The job market is wide open right now. Candidates can get a job just about anywhere. So, what is causing all of these available jobs? A lot of these openings are due to retention issues.
How do companies retain current workers?
Retention is challenging for many companies because losing current employees to the highly competitive talent market is easy.
The Why
First, HR leaders must figure out why employees leave the company. They can do this through exit interviews. Exit interviews are a valuable tool for providing insight into what you do well as an organization and what you need to improve on. Listening to this feedback will give HR professionals the knowledge they need to develop a retention strategy.
The When
Not only do HR leaders need to figure out the why behind employees leaving, but they also need to pay attention to when employees are leaving the organization. For example, if the employee resigns in the first few months of being hired, this could indicate that the onboarding process could be flawed. From there, HR managers could facilitate a more engaging and effective onboarding process.
However, it can be more challenging to address if the employee leaves at a later stage. Employees leave in the later stages because they feel like they've reached their potential limit at your company. In order to address that challenge, it requires HR professionals to rework internal mobility and career paths. This will promote more options for internal growth.
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