We have all heard about, experienced, or participated in "The Great Resignation of 2021." The numbers are staggering. According to the recent Microsoft Work Trend Index 2021, 41% of the workforce is considering moving employers. In our recent Job Seekers Mindset report, 58% of survey respondents say they are highly likely or likely to work for a new employer within the next 6 months.
Turnover itself is not a new topic of discussion. For years, organizations have considered its impact. And, for some, they accept it as a reality of their business and only look to manage it. Others have instigated it with a forced reduction in the workforce (pre-covid) to control costs. Leading companies have developed and executed initiatives around recruiting, training, managerial development, employee surveys and recognition & engagement to reduce turnover. All organizations must embrace a new strategic direction as the impacted costs will be severe, especially since this is now employee driven.
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