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It’s playing out everywhere these days: a team starts looking at its HR OKRs and realizes retention-focused KPIs are on a slow trek south. And so the scramble to get numbers up before end-of-year (EOY) begins.
This may come as a surprise, but current employees aren’t so sure you care.
At least that’s what high rates of employee turnover in industries including...
Approximately 47 million Americans quit their jobs in 2021 (a phenomenon called the Great Resignation) in hopes of looking for better opportunities and benefits. In the last couple of years, the number of vacant positions in the United States has grown, creating a scenario where companies need to focus on employee retention.
The Great Resignation has created a labor market where employers need to compete for the best talent. The increase in competition means companies need to pay attention to recruitment and retention efforts when conducting strategic planning.
The Great Resignation is affecting companies throughout the country. It’s become tough to find and keep talented employees working at your company. While it is easy to blame the economy or the fallout from people working during Covid-19, studies show another element that is at work: toxic workplace culture.
It’s no secret that workers are quitting rapidly, with some leaving the workforce entirely. According to a report by the U.S. Bureau of Labor Statistics, more than 4 million workers voluntarily quit their jobs every month from November 2021 to March 2022. It’s “The Great Resignation,” and it’s making it hard to be an employer.
The Great Resignation is the reality of today’s marketplace. An average of nearly 4 million workers quit their job per month in 2021, holding the highest average on record. Job candidates now expect more from their employers. Workers will leave employment and turn down job offers that don’t fully reflect their lifestyle and values.
Would you like to close job openings 15 percent faster? Could you hire with more confidence if your churn rate was 21 percent lower?
Increase employee retention by offering better benefits