HR Strategy Spring Cleaning: Retention
There was an article included in the February 26 edition of the New York Times with the headline “What Layoffs? Many Employers are Eager to Hang On to Workers.” You’ve seen the companies and the numbers….Alphabet, Meta, Microsoft, Sales Force, Twitter and more that may not be household names.
In total 964 tech companies have laid off approximately 150,000 employees, and there seems to be more reported daily. However, for most other industries, retention continues to be an important HR Strategy to retain talent to deliver services and programs. This is not a time to relax and think retention issues are behind you now.
The number of job openings in the United States fell by 410,000 to 10.824 million in January 2023 from an upwardly revised 11.234 million in December, compared to market expectations of a 10.5 million decrease. Organizations need to fill those jobs and they are coming after YOUR talent.
What is your retention strategy? There are more choices now than there has ever been and people are taking advantage of the available choices. They are taking stock of their life and choices of the past and choosing what is best for them. You have a choice, as well. You can make it easier or harder for them to leave. What is your choice?