According to a recent report by Resume Now, 66% of workers are experiencing work-related regrets. In January, Resume Now surveyed 1,000 workers from the United States, the United Kingdom, France, and Germany.
The Most Prevalent Career Regrets
- Failing to request a pay increase (60%)
- Neglecting to prioritize work-life balance (59%)
- Remaining in a job for too long (58%)
- Not negotiating salary for a new position (58%)
According to Resume Now's report, many regrets arise from inaction rather than action. For instance, a greater proportion of individuals express regret over prolonging their tenure in a job (38%) than those regretting leaving a job.
READ ALSO : Job Hopping or Career Stability? Here are Some Expert Tips on How Often You Should Switch Jobs
Actions Vs. Inaction
You are likely familiar with that dreadful sensation when you have uttered or committed something you wish you could retract. This emotion, known as hot regret, initially stings, sometimes painfully, but fades rapidly. Despite feeling dreadful or embarrassed at the moment (like when I mistakenly hit reply all the other day), the discomfort is temporary- the regret ensues after taking action.
However, according to Rechel Botsman, a renowned trust expert, the most profound regrets, those negative emotions we carry with us for years or even a lifetime, often originate not from actions we took and later wished we had not but from opportunities we did not seize.
Career Advice From Experts
Equipping workers with the right resources can empower them to avoid some of these primary regrets.
For instance, while requesting a pay raise can be challenging, strategic approaches exist. Money expert Ramit Sethi advises initiating the groundwork several months before the official request. Begin by scheduling a meeting with your supervisor to discuss how your performance is being evaluated and what their expectations are for you. Collaboratively establish two to three actionable objectives to enhance your role. As you progress toward these goals, keep your supervisor informed, maintaining a record of your achievements, which can be invaluable when you eventually request a raise after accomplishing your objectives.
Remaining in a job for an extended period and failing to negotiate salary for a new position are additional costly errors. Data indicates that changing jobs is one of the most reliable methods of increasing earnings, although recent salary increases for new hires have leveled off in recent months.
It presents a built-in chance to establish a new and elevated salary for oneself. Despite this, many individuals fail to seize such opportunities. However, when they do, it often yields positive results. According to a 2022 Fidelity Investments study, 58% of U.S. workers accepted a new job without negotiating pay. Yet, among those who did negotiate, a significant 85% successfully countered and received a higher offer.
Career experts emphasize that numerous online resources are available to determine job salary ranges and where one falls. The key, they assert, is to conduct thorough research, exude confidence, and demonstrate one's suitability for the role through expertise and enthusiasm.
Mid-career individuals generally express the highest regret rates, with 70% of millennials and 69% of Gen Xers reporting such sentiments. However, they diminish later in life, with only 52% of Baby Boomers experiencing them. Similarly, additional research indicates that happiness tends to reach a low point in one's late 40s, largely due to career, family, and financial pressures. Nevertheless, happiness tends to rebound later in life as older individuals gain perspective and cultivate gratitude for their accomplishments.
