I spotted an article titled, “Why More Employers Are Recruiting Teachers”. This connected with me regarding how companies must re-think job requirements so they can open recruitment up to more applicants who have less on-paper qualifications.
A new report indicates that the inflation impacting all consumers, all businesses, and threatening politicians’ careers across the U.S. and the can’t-be-avoided domestic news topic of “The Great Resignation” are directly connected.
The common belief is that the employees quitting during “The Great Resignation” are young and don’t make much money, so replacing their meager incomes is easily done with an Uber application. While true, two new reports throw a heavy wrench into the assumption the majority of quits are entry-level workers.
Never in our history has HR had more opportunity to contribute to productivity. If your CEO is joining others saying attracting and retaining talent is a top challenge for 2022, every potential solution, conventional or not, must be on your list.
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.
If you keep low performers will you lose top performers, and ultimately be left with a workforce comprised of these workers and others who just don’t care?
Companies’ most frequent response to “The Great Resignation” is to raise pay. In fact, average increases rose from 2.6% to 3% during 2021 and are scheduled to raise to 4% during 2022. Let’s consult other data though, to better understand why all of this cash is having so little impact on the number of employees who are quitting their jobs.
MIT researchers shared a new study that presents a different perspective regarding why employees are quitting their jobs in droves, and the number one reason is “toxic corporate culture”. “Toxic corporate culture” is comprised of three distinct categories and the MIT research tells us “toxic corporate culture” is…wait for it…10 times more important than compensation in predicting turnover.
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.