Talent mobility was identified as a key emerging trend in Deloitte’s 2019 Human Capital Trends Survey and has already been embraced by best-in-class, high performance organizations who understand the value of developing a culture focused on their people. For companies new to talent mobility, it is rapidly becoming a priority for 2019 and beyond. But what is it and why is it so critical to your organization’s future success?
As an employer, do you really know what motivates your employees? What would help you to improve your staff retention levels and enable everyone in your organization to maximize their potential?
Millennials have grown up in a fast moving, ‘on-demand’ culture. Their expectations are high and they are impatient for success and accelerated career advancement. Moving up in their career is at the top of their agenda and it must be on yours too as their employer if you are to prevent them from moving on.
In 2018, workers left their jobs at the highest rate since 2001, a trend that is continuing in 2019. The latest figures from the Bureau of Labor Statistics show that quit rates are fairly consistent at 2.3% (or 3.5 million employees) each month. At the same time, new jobs are being added to the economy every month – 263,000 were recorded in April, exceeding all forecasts and making staff retention the focus for 2019. But as employers scramble to recruit new talent or simply hold on to the people they have, they are missing one vital piece of the jigsaw.
Employees don’t quit organizations, they quit managers. It’s a frequently made claim but one that today’s organizations cannot afford to ignore. Repeated studies show that poor management performance is a major reason people leave their jobs. In fact, employees who rate their line manager’s performance as poor are four times more likely to be job hunting – and 40% are likely to have interviewed for a new job in the last month.
Implementing successful talent retention strategies is a problem that most organizations are all too familiar with, but your leadership has a significant role to play.
A number of behavioral symptoms present themselves when your employees feel there is no career progression or long-term career path open to them. A fall in productivity is one of the most obvious but others include inattention to detail, and printing of past performance reviews to use as reference for their next job.
As the skills shortage continues, employers are looking for new and innovative ways to encourage higher engagement and motivation among their staff.
Most HR professionals are all too aware that their employees become disengaged and unhappy if they feel they are performing repetitive and monotonous tasks each day. Low engagement levels impact employee productivity and your organization’s attrition levels may rise as a result.
Adapting to the evolving demands of technology is a priority for many organizations in 2019 but the tech skills shortage is making it harder for companies to achieve this goal. Technological disruption is driving this talent crisis, forcing employers to re-evaluate their talent management strategies.
A new approach to talent acquisition and retention strategies is a must for insurance companies to address the talent crisis. Read this blog to learn more.
Every January sees a rise in the number of people looking for a new job and this year is expected to continue that trend. 2018 saw American employees leaving their jobs in record numbers and employers struggling to attract and retain talent. Is 2019 the year to introduce career pathing to your business to prevent a talent exodus?