[5 Steps] Stopping turnover in its tracks
What you'll learn:
Actions to reduce turnover based on five recent workplace trends that are causing employee attrition.
Aligning business and talent
The Great Resignation isn’t merely a moment in time; it’s a movement that’s hitting all corners of the workplace. And leaders are being reminded of this daily—75% of companies say The Great Resignation has impacted the bottom line, per The 2022 State of Talent Optimization Report.
Yet, there’s a lifeline today’s companies are using to navigate The Great Resignation and future-proof themselves. Those that practice talent optimization are nearly twice more likely to avoid this period of mass turnover than their peers.
What does it mean to be a talent optimized company? It means having a talent strategy, a business strategy, and making sure those strategies are aligned.
Most organizations have some form of business strategy. Leaders will often approach this strategy from a financial or operational lens, only to miss a crucial part of the equation: the people who see strategy through. Using talent optimization, you will learn to communicate your business strategy in people terms, informing everything from hiring to team design.
By taking a people-first approach to your business strategy, you can ensure the people you hire and lead are aligned and working toward a common goal. Every person understands the value they bring to their role, and feels a sense of purpose related to the company’s mission and vision. It’s easy to understand why talent optimized companies do better with retention, as those who are committed to their organization are much more likely to stay.
This fits with another theme we saw in the 2022 State of Talent Optimization report: Executives’ No. 1 talent priority is helping employees find purpose. Work isn’t just something you do to make ends meet. People want more from their jobs, and companies that fail to read the writing on the wall may end up losing some of their most valuable employees.