The Great Resignation in 2022 led to a surge in employee turnover, with 20% of employees considering leaving their roles, and 25% among those aged 18-24. Retention now hinges on factors like purpose, progression, and alignment with values rather than just salary. Businesses can combat turnover by implementing three key actions for improvement. Regular insights should be gathered from employees through various touchpoints to understand their experiences and needs. Frequent feedback mechanisms, like pulse surveys, can provide transparency and a sense of being heard.
Employee turnover surged to unprecedented levels during the Great Resignation, with younger employees showing a higher propensity to consider leaving their roles. Retention is increasingly focused on purpose, progression, and aligned values, rather than solely on salary.
To enhance employee retention, leaders should gather insights through frequent surveys and feedback mechanisms during onboarding, performance conversations, and exit interviews, rather than relying on annual surveys.
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