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Shifting the Great Resignation Into the Great Retention

Published Fri Dec 02 2022

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We’re deeply entrenched in what many workforce experts call the Great Resignation. Employee turnover is reaching record-breaking levels, and employees continue to demand more from their employers. This isn’t just a feeling, either. A new report from the Bureau of Labor Statistics reveals that 38.6 million resignations have occurred from January to September 2022, and these departures have remained consistent from month to month. To stem this tide and shift away from resignation to retention, employers need to understand why their people are leaving in the first place. Luckily, there’s information available to shine a light on these departures, and ultimately, there are five reasons: ineffective management, unsatisfactory pay, poor work-life balance, lack of recognition, and lack of advancement opportunities. If employers want to retain talent, they must take these concerns seriously. They need to create more positive work environments that focus on the personal and professional growth of employees. They need to re-evaluate their compensation packages and consider the value proposition for their employees. Shrugging their shoulders and claiming that “no one wants to work anymore” isn’t enough if they hope to change the Great Resignation into the Great Retention.

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