The Great Resignation. Mass Exodus. The Big Quit. With an average of 4 million workers quitting their jobs each month, 2022 started with employee attrition continuing to dominate headlines and put work as we know it under the microscope.
Moreover, The 2022 State of Talent Optimization Report — published this week by The Predictive Index — found that nearly one in four executives feel ill-prepared to lead through The Great Resignation, and 75 percent say it impacted their financial stability.
“It’s unclear how long The Great Resignation will last,” said CEO of The Predictive Index, Mike Zani. “But companies that know business success isn’t up to chance, are combating attrition by putting people in roles and environments where they thrive. In fact, companies that practice talent optimization were nearly twice more likely to avoid the brunt of The Great Resignation than their peers.”
The goal of the The State of Talent Optimization study was to understand how executives are battling The Great Resignation and learn how they are future-proofing their organizations.
Key Findings from the Report:
- The No. 1 reason employees and executives quit is inflexibility.
- The No. 1 reason executives stay is job fit.
- Executives’ No. 1 talent priority is helping employees find purpose.
- The No. 1 driver of retention is benefits.
- One in five workers quit in the last six months.
In addition to uncovering the “why” behind The Great Resignation, the 2022 State of Talent Optimization Report revealed five ways to combat attrition:
- Companies with the right people in the right roles have 42 percent lower turnover.
- Remote-friendly companies are experiencing 33 percent lower turnover.
- Companies that prioritize health care benefits experience 27 percent lower turnover.
- Inclusive companies are experiencing 19 percent lower turnover.
- Companies practicing talent optimization are nearly twice as likely to avoid the brunt of The Great Resignation.
A full copy of the 2022 State of Talent Optimization Report is available at: https://www.predictiveindex.com/learn/talent-optimization/resources/surveys-reports/the-state-of-talent-optimization/.