Because a business's most valuable asset is its workforce, employee retention is likely one of its top priorities. In the current job market, though, retention is becoming increasingly difficult. Although many organizations take proactive steps to keep their employees happy after they've been onboarded, the best method for achieving high employee retention begins before the first interview-and it's built around company values. By using five key strategies to bring its core values to life, an organization can attract the applicants who are the best fit for the company’s culture and keep its current employees happy, too.
The latest generation of employees to mystify well-meaning managers, Generation Z (born between 1997 and 2012) is steadily increasing its influence in the workplace as more and more young people join the labor force. These outspoken newcomers are at the forefront of rising activism in the workplace: they want it all-and they’re willing to take action if they feel that their needs aren’t met. Starting with the Great Resignation and continuing today, business leaders have been struggling to hang onto their Gen Z employees who are ready and willing to look elsewhere for better pay, more opportunities to develop their skills, and less toxicity in the workplace.
The latest buzzword in the business world is "quiet quitting"—which, contrary to what its name seems to imply, isn't actually about leaving a job. An outgrowth of the Great Resignation, quiet quitting is a trend (one that’s getting a lot of attention on social media) in which working professionals dramatically reduce their workplace engagement rather than leaves their jobs outright.
When it comes to pay transparency, there's a disconnect between vision and reality. Although one recent study found that two-thirds of organizations surveyed "view pay transparency as increasingly important," only a little over 23 percent of workers surveyed answered yes to the question "Do you feel your employer is transparent about how people are paid in your organization and that it is okay to ask questions about salary?"
Whether a candidate applies for a role because they are actively drawn to a particular organization, because they stumble upon an open positive via a general search on Indeed, or because a sourcer found and wooed them, the job posting is almost always a checkpoint in the hiring process. Although companies have been trying to improve their job ads for decades, the need for improvement has taken on new urgency in the last year given the scramble for talent, particularly for candidates with skills in scarce supply.