Right now, there’s a lot of media buzz about the so-called Great Resignation. It’s true that more employees than ever are considering jumping ship in the wake of the pandemic, and quit rates are higher than ever. But staff retention has always been one of the biggest issues in HR, especially when dealing with your most talented stars. To hang onto these valuable team members, you have to understand the many reasons that employees leave an organization.
Shortly after President Biden assumed office, he announced that “closing the gender pay gap is more than just an economic imperative — it’s a moral imperative as well.” The Biden administration approached this priority by backing the Paycheck Fairness Act, a bill that would create new regulations in support of pay equity.
As the world starts to think about life after the pandemic, leaders now face a new crisis, known as The Great Resignation. Quit rates are surging in most industries as people walk away from their old routines to seek out new opportunities and a better work-life balance. If you’re worried that your best talent might be about to join this mass walk-out, then it’s time to deploy an underused staff retention technique: the stay interview.
Executive recruitment can be a monumental responsibility. If you’re involved in the selection process, you know that you’re not just hiring an employee. You’re bringing in a fresh face who will immediately influence your company’s strategy, goals, and culture. It’s not something you can rush. That said, you might run into problems if you’re not quick enough to fill a vacant position in the C-suite.
Over the past 18 months, the companies I work with have done a remarkably impressive job of adjusting to the so-called New Normal of remote work, hybrid teams, and Zoom meetings. But there’s one issue that seems to come up time and time again. Whenever I discuss recruitment, the first thing they say is often, “I can’t wait to go back to in-person interviews.”
A recent study by the software company Sage found that 81% of executives said that HR-related tech played a vital role in their Covid response. Meanwhile, 83% of HR leaders said that technology helped them become more responsive and flexible during a time of changing needs.