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Four Ways To Combat The Expected Turnover Tsunami

Forbes Human Resources Council

Chief Marketing and People Officer @ Centrilogic.

After more than a year and a half of extraordinary and often isolated working conditions, many employees are looking for a change. For many, that means heading out the door toward what they hope are greener pastures. So whether we’re ready to admit it or not, the tsunami of turnover is coming for us all.

For HR professionals, this is no time to sit back and see what happens. Rather than react to this impending deluge of departures, HR teams should use this time to build up their processes and resources so they can more effectively attack from higher ground. To meet these challenges head-on, it’s time for human resources teams to get proactive with programs and processes that boost retention.

Stay A Step Ahead  

First and foremost, make sure you’re remaining competitive in the market. Are your compensation model and benefits really competitive? Now is the time to take a closer look. Over the last year and a half you may have tightened margins to keep the lights on, but in such a competitive job market, now may be the time to give those changes another look. Having a strong compensation model your organization can live with today and in the future will be critical to keeping your most valued employees around for the long run.

Give Room To Grow

What’s the best way to get employees to reconsider leaving for the next big career opportunity? Make sure you’re providing a clear route to their next big career opportunity. According to recent data from Monster, more than half of employees surveyed are concerned about the future of their work due to a potential skills gap, and 45% would be more likely to stay in a job that provided skills training.

And providing career opportunities should go beyond skills training. Clearly map out career paths within your organization and share those with all employees. Also, empower them to chart their own course with cross-training opportunities to flex new muscles and learn skills beyond their corner of the organization. Training and professional growth programs not only help boost essential skills but also give employees the confidence that comes from your investment in their future with the company.

Watch Out For Burnout

While working from home allowed greater flexibility for some, it also blurred the lines between work and home for many. The result? Digital burnout is running rampant, especially among younger professionals. It’s a trend that has led more than half of 18- to 25-year-olds in the workforce to consider quitting their job.

Combatting this within an organization can be challenging, but it should start with culture. Building a community that prioritizes mental health and respects the boundaries between work and personal needs to start from the top down. By leading by example, the C-suite can empower their teams to follow suit and speak up if things fall out of balance.

Learn To Let Go (And Have Your Recruitment Plan Ready To Go)

Ultimately, some of the factors influencing this employee turnover trend are beyond your control. The pandemic swiftly and significantly changed priorities and plans globally. There’s only so much you can do to combat that. What you can do is be ready to move on to new hires. 

Now is the time to step up your recruitment plan — explore new avenues, look internally for promotion opportunities, and ensure your job postings shed as much light on the culture of your organization as they do on the benefits and compensation. Today’s job market is more competitive than ever. People aren’t just looking for a paycheck, they’re also looking for a community, so don’t hide yours under too many layers.

In Conclusion: Continue To Innovate

As we all ride out these times of turnover turbulence, continuing to look ahead will be essential. A strong retention program is the gift that keeps giving, regardless of turnover trends. Attracting and keeping top talent does not allow for sitting on our laurels. The next best benefits, employee resources, approaches to company culture and more must always be in our sights. That will help us weather this storm and all of those yet to come.


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