AI is changing the workforce, but will it replace enough jobs to solve the worker shortage? The latest labor market trends and job automation predictions means businesses must focus on employee retention now to stay competitive today and into the future.
The U.S. is facing a looming labor shortage as college closures rise, birth rates decline, and workforce demand outpaces educational attainment. Leaders must prioritize talent retention or risk being caught in a hiring crisis that could cripple their businesses.
Really bad according to a new study. A change in employment creates 50% of the stress of a divorce and 50% more than quitting smoking. So let’s ask ourselves what could be SO bad that they are willing to go through half of the same stress level as if they were getting divorced? They can’t all be leaving for just for pay or better opportunities.
Fortune published an interesting article recently about how HR’s role has stepped up due to people-centric issues like COVID-19, the subsequent labor upheaval, and remote work. Their point is that HR now finally has that coveted “seat at the table” that top HR execs have longed for during the past decade or two. The question is what big challenges HR tackles using that seat.
Monday, Amazon CEO Andy Jassy sent a memo to employees outlining several cultural and operational changes including mandating a full return to the office at the start of 2025. For many future years we will read reports and say, “The pandemic caused that” and at top of the list is the work-from-home (WFH) phenomena that today has led to an increased level of tension between employees who have embraced it and employers, like Amazon, who are over it.
While exit surveys bring a concept that at first glance should be helpful to our overall retention quest, the combination of poor survey design, minimal truth-telling, and the absence of constructive follow-up all dilute their value. You should be asking “Why do you stay?” versus “Why are you leaving?” to get better employee retention data for your company.
Each week I present here the absolute best information and solutions to implement Stay Interviews and cut employee turnover. But today, I want to invite you to spend a few days in Florida learning it all such that you could return home to MAKE IT HAPPEN…to not only reduce turnover but also slash open jobs, make real employee engagement happen, and improve productivity across your company.
Most employees can immediately tell you why they might leave, but few have actually catalogued in their minds why they stay. Stay Interviews Question 3 is important as it causes employees to self-search. And once they announce to you why they stay they also announce it to themselves…and they tend to never forget it.
Recent surveys say these are the at-work values young workers hold most dear: Mobility, entrepreneurial freedom, and flexibility. Lock these key employee retention words into your brain, make them pop up on your computer screen first thing each morning because 53% of your Gen Z and millennials will consider leaving this year.
Young workers are much more willing to abandon relationships that feel insecure or unsafe, both at home and in their places of work…and are much more willing to welcome relationships where they feel safe to be their authentic selves.