A sequential choice perspective of postdecision regret and counterfactual thinking in voluntary turnover decisions

We develop a theoretical framework for voluntary turnover decisions that captures employees’ multiple turnover decisions. Our framework addresses both leaving and staying decisions in the voluntary turnover process in a continuous, sequential fashion, and we describe how past turnover decisions can leave “residuals” on future turnover decisions, thus influencing those latter decisions. In particular, we explain that employees make voluntary turnover decisions to achieve well-being, but may experience postdecision regret in the process if they negatively appraise their initial turnover decision. We therefore establish postdecision regret as an important antecedent in future turnover decisions and explain how employees try to manage it through counterfactual thinking and self-regulatory motivations.