It has been dubbed the ‘Great Resignation’. The number of people quitting their jobs in many major economies is at a level not seen in over a decade. There are many reasons people are leaving their jobs in the world’s biggest economies. Chief among them is the impact of the pandemic, burnout and the realisation that perhaps there is more to this short life than a job. So, what are the best ways to retain talented staff? Download this free eBook to start exploring.
The key points covered in this guide include:
- If you have the right employees, it’s worth tailoring your strategy and getting down to the nitty-gritty of how they feel and why they really want to leave.
- Make no mistake. The pandemic affected working parents the most, particularly mothers with young children.
- The mental health consequences of working from home and juggling childcare have been severe.
- At a time when people are under enormous strain, the added stress of having to deal with bad management and micromanagement is very bad for company culture.
- Most companies don’t provide adequate training for people promoted to management roles. Unless managers are trained and provided with support, they are likely to fail.
- Turnover numbers that are concentrated in one or two departments usually indicate a management problem.
- Pay rates simply haven’t kept pace with inflation or living expenses in the past few years.
- Flexible work environments will be the future of work in terms of place, time, job description, and career paths.
- Employees should have a variety of ways to provide feedback to leadership and be provided with opportunities to improve their overall well-being.
- Having a psychologically safe work environment will encourage employees to stay longer.
- It is critical to establish an environment in which people believe they are valued enough – as individuals – to be given the time and space to flourish.
- Employees should feel comfortable treating every challenge as an opportunity for practice and growth.
- Put in place a culture of coaching and learning in your organisation.
“Organisations must make talent strategy a key priority and take steps now to educate, train, and upskill their existing workforces,” says Yannick Binvel, president of Korn Ferry’s Global Industrial Markets practice.