That’s two out of five employees in our global sample who said that they are thinking about leaving in the next three to six months. In this article, we take a closer look at five crucial employee personas that companies must understand to solve the attrition and attraction problem for the longer term.ĭespite significant changes in the economy since the onset of the Great Attrition (or what many call the Great Resignation), the share of workers planning to leave their jobs remains unchanged from 2021, at 40 percent. Rather, they can showcase different facets of their employee value proposition to a broader number of workers and get more creative in their offers to current and potential employees. This doesn’t mean that organizations have to change their mission, values, or purpose. Instead, employers can take a multipronged approach to reach different talent pools. These differences show that no single solution is going to attract enough people to fill all the job openings and retain a productive workforce. While most of these groups valued workplace flexibility highly, they differed in how they rated mental-health support, meaningful work, and career advancement. These groups of like-minded respondents became our “personas”-distinct pools of workers that employers can target in their search for talent. Then we looked at whether these workers also shared demographic similarities. To get at these priorities, we sorted respondents into smaller groups who shared the same set of primary needs that they want an employer to meet. It turns out that many workers want more than the usual compensation and job advancement carrots. We asked survey participants in various phases of job churn why they left or would consider leaving and what would make them want to stay or come back. Our analysis of workers in six countries focuses on which job attributes are motivating them, both positively and negatively. To better understand who might fill all the open jobs, we examined economic and labor statistics conducted a large global survey to learn more about what is driving people to stay, leave, or return and applied advanced analytics to define specific segments of the workforce, both active and latent (see sidebar, “About the research”). The survey data, collected from February 15 to April 2, 2022, included people of working age across 16 industries. To better understand what continues to spur voluntary attrition and other shifts in the labor market, we surveyed 13,382 employees in Australia (n = 593), Canada (n = 1,935), India (n = 766), Singapore (n = 652), the United Kingdom (n = 3,142), and the United States (n = 6,294). To close the gap, employers should try to win back nontraditional workers. Even when employers successfully woo these workers from rivals, they are just reshuffling talent and contributing to wage escalation while failing to solve the underlying structural imbalance. Those factors are important, particularly for a large reservoir of workers we call “traditionalists.” However, the COVID-19 pandemic has led more and more people to reevaluate what they want from a job-and from life-which is creating a large pool of active and potential workers who are shunning the traditionalist path.Īs a result, there is now a structural gap in the labor supply because there simply aren’t enough traditional employees to fill all the openings. Employers continue to rely on traditional levers to attract and retain people, including compensation, titles, and advancement opportunities. What we are seeing is a fundamental mismatch between companies’ demand for talent and the number of workers willing to supply it. At the current and projected pace of hiring, quitting, and job creation, openings likely won’t return to normal levels for some time. 2 US Bureau of Labor Statistics quits levels and rates data, December 2019 through May 2022. Even as employers scramble to fill these positions, the voluntary quit rate is 25 percent higher than prepandemic levels. Job openings, hires, and total separations by industry, seasonally adjusted,” Job Openings and Labor Turnover Survey, US Bureau of Labor Statistics, July 6, 2022. In the United States alone, there were 11.3 million open jobs at the end of May-up substantially from 9.3 million open jobs in April 2021. For certain categories of workers, the barriers to switching employers have dropped dramatically. The Great Attrition has become the Great Renegotiation.Ĭompetition for talent remains fierce. They are taking a time-out to tend to their personal lives or embarking on sabbaticals. People are switching jobs and industries, moving from traditional to nontraditional roles, retiring early, or starting their own businesses. It’s the quitting trend that just won’t quit.
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