The Great Resignation, The Big Quit, Quiet Quitting, The Great Reshuffle –No matter what you call it, businesses around the world have been dramatically impacted by the exodus of talent from their organizations. The number of job openings are 50% higher than pre-pandemic levels as employers scramble to keep existing talent while attracting new employees into the fold. As with all crises, the current employment landscape presents a tremendous opportunity for organizations willing to reevaluate how they attract, manage and retain employees.
Unfortunately, many metric driven executives only look at one side of the problem. Objective metrics are critical to success. However, executives need to remember that people are emotional beings. When evaluating their work, people filter their thoughts through their emotions. Because of this it is imperative for employers to look at both the art and the science when evaluating their people processes. While there are many factors involved, we’ll look at a few of the quantitative and qualitative factors that come into play when creating a comprehensive People Strategy.
The above list is meant to showhow quantitative and qualitative factors can be used together in creating a comprehensive People Strategy.What’s interesting is that creating a workplace thatemployeesvalue also createsa workplace that attracts quality new talent. The same way an amazing customer experience helps attract new customers, implementing a solid retention strategy will serve as the foundation for a killer recruiting strategy.
In this business environment it is critical for executives to be committed to better understanding their workforce. There are more opportunities than ever for your employees to quit and find the same work at better pay. Creating a People Strategy using both quantitative and qualitative tactics will help you reduce retention rates and lead to a more engaged, motivated workforce.