Most reporting on the causes of The Great Resignation miss the mark because the bigger story is about demographics. Two numbers we track month-to-month, how many workers are voluntarily quitting and how many jobs are open, is the hard data that tells us about the actual number of available workers.
A recent SHRM report tells us about the rising level of worker mistrust that is leading to less-than-honest responses on engagement surveys. So why are Stay Interviews more trusted? Because Stay Interviews are delivered by humans…and those humans are trained to listen, probe, note, and are held accountable for results.
Stay Interviews are the rock for employee retention and provides the fuel for building trust. But Stay Interviews need data-driven components to measure success and see real turnover results.
Last Sunday after the Super Bowl, NBC New York 4 News aired a segment on Quest Diagnostics’ use of Stay Interviews to cut turnover, so far by 42%. We are thrilled to be the conduit for Quest’s success and if you watch the 3-minute video, you will quickly identify my favorite part.
We are now firmly in the midst of “The Great Resignation”, and the number of monthly quits have consistently exceeded their all-time highs. This gloomy picture would be incomplete, though, without looking beyond today, wondering how long the workforce clouds will stay dark. There are at least 10 reasons that forecast "The Great Resignation" as the new normal.
The first week of January our C-Suite Analytics team reviews how much we helped our clients the previous year. We are tough on ourselves; did we miss an idea along the way? But we also identify our successes with specific obstacles and the solutions that did work to overcome them.
Each of you knows that nothing happens in organizations without accountability…nothing…yet my guess is fewer than 5% of global companies, large and small, actually hold someone accountable for turnover. This is why we always begin with converting turnover to dollars. It’s the turnover accountability wake-up call.
With much data circulating about “The Great Resignation”, you may think it’s hard to separate which information really matters. Recently, our Bureau of Labor Statistics, or BLS, reported quits rate by state and the complete report reveals two Americas...and this data matters.
As I've shared in two recent articles, most employees won’t care about your referral program if you don’t pay out a significant chunk the day the referred employee starts – and Forbes agrees.
The science shows that helping managers solve turnover is equally as important as recruiting new hires, and at a time when the number of open positions AND the number of employees quitting across our country has never been higher.