In the past, professionals used to seek out companies that could offer employment for the whole of their career—the so-called “job for life”. Those days are long gone, and the average American will now have 12 jobs in their lifetime.
According to the CDC, American businesses lose around 200 million workdays every year due to employee mental health. The estimated cost of this problem is anywhere up to $44 billion, making it a huge issue for every employer.
When you turn on the TV or check social media these days, it seems filled with nothing but bad news. Sometimes I can feel these current events linger in the back of my mind while I'm trying to work, and it will shift my mood for the day. And I thought, if that is happening to me and I'm not directly impacted, it's likely happening to other team members and perhaps on even more varying levels.
Staff turnover is a cause for concern at any time. But, in 2021, concern turned to widespread panic as quit rates soared across the country. This phenomenon reached such proportions that it earned a nickname: The Great Resignation.
Last year saw one of the most unexpected Total Rewards trends in recent memory. Remote working, which employers had hastily adopted during the pandemic, suddenly became a must-have benefit for employees.
If you’re an HR leader, you’ve had to contend with a lot of uncertainty in the past two years. There’s been a pandemic, a shift to remote working, civil and cultural unrest, not to mention the staff turnover event known as The Great Resignation.