Tsunami Turnover Represents Silent Epidemic

Give People A Reason To Stay

This article by Dina Readinger was featured in SBJ at this link.

The U.S. Labor Department told us that 2.9% of the population – or 4.3 million people – voluntarily quit their jobs in August 2021. Voluntary turnover will continue to be the highest cost and challenge employers face with projected expenses in the billions of dollars. 

According to WorkHuman Workplace, employers should expect 20% of their employees to leave in 2022. The expected costs could go as high as 200% for a rehire, while currently, 2 out of every 5 employees have one foot out the door, lowering engagement and company performance.

Why are statistics continuing to worsen?

The No. 1 issue? Employees don't feel valued for their ideas and opinions, and they need more recognition for their work. Here’s the bottom line: The old, antiquated rules for management will create a mass exodus. CEO and managers must think differently to lead differently, or the employees will leave you.

You see, employees want to feel they can trust their employer, and they’re looking for alignment between actions and words. Employees are searching for company leaders that won't micromanage but inspire them for the needed change.