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?
Today’s workers have more transparency and choice of jobs than any generation before, which means retention is a critical component for employers across the globe. A variety of mechanisms have been deployed to keep people engaged at work, but research shows that one of the most valuable options of all is career management.
Succession planning and career pathing are often thought as two separate processes that serve different purposes. However, when aligned, both employees and the company can benefit from the goals of each. View this infographic to learn How Succession Planning and Career Pathing Work Together.
There’s no substitute to taking the time and care to develop individuals on their path to career success. By taking a few career pathing steps, you can strengthen employee engagement and your organization’s overall outlook.