Across industries, employees are setting their sights on new job prospects and options.
Employers are looking ahead to the future, but so are many employees. According to Eagle Hill Consulting’s The Employee Turnover Tsunami Is Coming report, many workers are making postpandemic plans that soon could result in significant turnover. The report cites that one-quarter of employees from various industries plan to leave their organizations once the pandemic subsides. Researchers say burnout, necessity, choice, and pent-up demand are contributing factors.
Data from On the Verge of a Physician Turnover Epidemic, a study that Jackson Physician Search commissioned, shows a similar trend in the healthcare industry. Researchers surveyed 400 physicians and discovered that the COVID-19 pandemic has altered employment plans for more than half. Many physicians are contemplating taking early retirement, finding a new employer, or leaving the practice of medicine.
The Eagle Hill study outlines several steps talent development professionals and their organizations—regardless of industry—can take immediately to keep employees from leaving. The report notes that "These approaches also provide a realistic pulse on the potential turnover issues in an organization before they occur."
Engage high performers. Target top performers with exclusive learning programs, stretch assignments, and programs that support their growth—not only because these individuals are valuable to the business but because, as the Eagle Hill study notes, they are prime candidates for burnout.
Revamp learning. Revise learning curriculum based on any shifts in the company’s strategic direction. "New strategic objectives will dictate the talent, skills, and roles that a company needs to deliver the products, services, and customer experiences that will make its post-pandemic future," the report states.
Identify employees’ needs. Support employees as their needs evolve. The report notes, "By conducting employee surveys, encouraging ‘open door’ exchanges, and providing career counseling and mentorship opportunities, companies can create a supportive environment."