This blog post is part of a series on the Great Attrition, exploring the immediate actions leaders can take to retain and attract talent at a time when employees are leaving their jobs in droves. The authors would like to thank Marino Mugayar-Baldocchi for his meaningful contributions to this post. As organizations adapt to the changing talent landscape, leaders must recognize the common drivers of the Great Attrition but tailor their response to the specific needs of employees in their industry and organization. For example, a pharmaceutical company is emphasizing remote work as “a right” not a perk and allows teams to determine when to collaborate in person, focusing on the quality-not quantity-of interactions.Įmployees are leaving for a wide variety of personal and professional reasons. As the workforce returns to the office, leaders must empathize with their people and avoid handing down unbending mandates. This might involve elements of in-person connection while still providing flexibility, as nearly three-quarters of employees want to work from home two or more days per week. Leverage a flexible working model emphasizing connection.Drawing that connection pays off-companies that connect their strategy to the work of their employees have achieved a 63 percent increase in total return to shareholders. For example, as part of its annual goal-setting process, a bank emphasized how each employee contributes to the organization’s strategy and purpose statement through manager and employee discussions. One way to do this is to show employees how their work fits into the larger strategy of the organization. Employees want to experience more purpose and meaning at work. Connect their work to the organization’s purpose.For example, a healthcare company is defining their leadership development strategy to develop the next generation of leaders, grounded in a leadership competency model. Inspirational leaders that empower and support their people not only help employees perform better, but also become part of the employee value proposition that helps attract and retain talent. Upskilling managers may be especially critical. This strategy allows you to manage talent gaps that may be driving unmanageable workloads. Invest in their development through upskilling programs that help employees perform at a higher level in their existing roles. Empower and upskill your people, especially managers.We recommend these three actions to turn attrition into attraction: As education institutions re-enter in-person classrooms, administrators will be well served to foster educator connectivity and relationship building to strengthen colleague bonds.Īs employers take on the Great Attrition, they will need to address the unique circumstances facing their industry. Employees in education reported leaving due to negative interactions with their colleagues and the people they serve, such as students or parents. Those working in education plan to leave because they do not feel supported by their colleagues. Employees in these industries reported that they are leaving because their work is not meaningful, interesting, and challenging, and they do not have opportunities to learn new things at work. This emerged as especially important among white collar workers people in trade, transportation, and utilities and individuals in goods-producing industries such as construction and manufacturing. In the case of the healthcare and social assistance sector, essential workers have been on the frontlines throughout the pandemic, further exacerbating workload challenges. Given the massive labor shortage, particularly in these industries, remaining employees have had to compensate for this talent gap. Employees in leisure and hospitality as well as healthcare and social assistance plan to leave because their workload is unmanageable, leading to poor health and well-being. However, in certain industries, the following specific drivers are pushing people to leave: Our research shows that employees across industries are leaving because they do not feel valued and have poor work-life balance. Forty percent of employees report that they are likely to leave their job within the next 3-6 months. November 8, 2021Organizations are reporting unprecedented levels of turnover.
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