As high unemployment persists and the global economic recovery remains halted and uneven, the “resume tsunami” appears to have been reduced to a “resume riptide.” According to Deloitte’s new global talent survey, Talent 2020, four out of five (80 percent) employees plan to stay with their organizations over the next year, a significant increase from 2011 when nearly 65 percent were planning to leave.
My advice to those of you reading this post is to not get complacent.
Out of a false sense of security, companies may neglect their talent and retention strategies as more employees appear to be staying put. However, the Deloitte report warns that organizations’ top performers are also those with the most employment opportunities. Here’s what you can do to prevent top talent from fleeing out the door:
- Focus on retaining employees with the critical skills required to advance your business in today’s turbulent marketplace, as they pose the biggest flight risk.
- Engage those employees with meaningful work or risk losing them to someone who will.
- Identify the keepers who are most at risk and focus your efforts to keep these people engaged.
- Leadership matters when it comes to retention. More than six in ten employees (62 percent) who plan to stay with their current employers report high levels of trust in corporate leadership.
Employee retention is not a human resource function. It’s the responsibility of the CEO and his or her team. What will you do differently today to keep your employees from bolting out the door tomorrow?