By John Hackston | September 16, 2021
Is your organization suffering from the ‘turnover tsunami’? If not, think yourself lucky. In a normal pre-pandemic year, average turnover rates were typically under 20%, but in recent research from the Achievers Workforce Institute, over half of survey respondents said they would be looking for a new job in 2021. During the pandemic, many people put their careers on hold and had time to reflect on whether they found their work fulfilling, or if they would rather be doing something else. Now the economy is moving again, organizations are hiring, and employees are on the move. The new normal of remote working also means that it is easier and safer for individuals to look for new job opportunities and for organizations to attract and recruit talent more quickly and efficiently. Hiring senior roles without meeting them in person used to be unheard of, now it’s entirely normal. As a result, retaining talent has become a real issue for many organizations. Better Pay Isn’t Always Enough to Make Good Employees Stick Around How, then, to keep people? One solution would simply be to pay them more, but this doesn’t always work.
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