After seven months of exceptionally high quit rates, the total number of resignations in the U.S. has surpassed 38 million, and all signs suggest that the crisis in turnover will continue into 2022. According to Gloat’s Great Resignation Research Report, many workers are already considering leaving their current employer.
Gloat’s research indicates that leaders will need to do more than tweak their retention strategies and upgrade perks and benefits to keep employees onboard. For example, 48.1% of employees are either currently looking for a new job or will begin searching in the next 90 days. Among other things, better pay and more growth opportunities are needed to encourage employees to change their plans.
The report said “an entirely new approach to talent management” should be adopted, one that gives workers more control of their own careers. Nearly two-thirds of employees, 63.4%, want to be considered for new opportunities within their company, while 54.4% don’t believe their employer takes their future interests into enough account.
The Grass is Greener…
Even though many want to be considered for new jobs at their current employer, an even greater percentage, 65.8%, believe better career opportunities exist outside of their company.
One bit of good news for employers: Those that invest in the right solutions have a better shot at keeping their A players on-board. For one thing, workers buy into the strength of talent marketplaces. Fully 69.6% believe marketplaces can help them by increasing the visibility of talent and growth opportunities.
But also a bit of bad news: 43.3% of the workers surveyed say they’re burned out, and the top reasons behind burnout are a lack of opportunity and a lack of purpose.
Talent marketplaces can also mitigate bias, enabling managers to make hiring and staffing decisions based on skills and experience. That’s a good thing considering the fact that internal mobility still isn’t a level playing field. For example, only 36.2% of women say their organization makes internal growth easily accessible.
By Mark Feffer
Mark Feffer is executive editor of RecruitingDaily and the HCM Technology Report. He’s written for TechTarget, HR Magazine, SHRM, Dice Insights, TLNT.com and TalentCulture, as well as Dow Jones, Bloomberg and Staffing Industry Analysts. He likes schnauzers, sailing and Kentucky-distilled beverages.
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