“Gratitude unlocks the fullness of life. It turns what we have into enough, and more.” This quote by author Melody Beattie serves as a precious reminder of this month’s theme, giving thanks. Much can be unpacked in this quote as it relates to one’s personal endeavors, but it also has practical applications to the professional sphere, especially with regards to employee recognition.
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Job-hopping is the new normal in today’s workplace, and it’s not limited to recent graduates. People of all ages are leaving their jobs for greener pastures more frequently than they used to. The median tenure for workers over the age of 55 is just 2.53 years, and our research shows that one in four workers will leave their jobs this year. We’ve got a retention problem that spans generations, and it’s costing companies billions of dollars every year.
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Have you ever set up an interview with a promising candidate who never showed up? Has a potential new hire quit responding to your emails and phone calls? This behavior is known as ghosting and it’s happening more frequently as the job market strengthens.
In August, 3.6 million people voluntarily quit their jobs in search of better pay, better hours or a better cultural fit. In a market flush with opportunities, candidates have no trouble securing multiple job offers and an increasing number of them don’t bother to communicate when they choose not to accept a job. It’s a disturbing trend, but what can employers do about it?
The old notion that customers come first is being augmented by a new market reality. If you don’t treat employees like customers, they won’t put forth the extra effort required to keep your customers happy.
These days, the “employee experience” is generating a lot of buzz, but market leaders have always understood that creating better employee experiences is vital to success. In the current business environment, several factors have converged to make creating great employee experiences more important than ever:
