Reading
this article, I couldn't help but wonder about a lot of things that have gone wrong and is going wrong in companies. Some of these companies are know that employees leaving are a problem and are making efforts to fix it while other who know, ,amy have chosen to ignore it.
Below are some important points highlighted in the article.
According to the report, more than 6.5 million people (20% of the U.K. workforce) are expected to quit their job in the next 12 months, according to estimates from the Charted Institute of Personnel and Development (CIPD), which published the data in June after surveying more than 6,000 workers. That’s up from 2021, when 16% of the U.K. workforce said they plan to quit within a year, according to the CIPD. Meanwhile, in March Microsoft’s global Work Trend Index found that 52% of Gen Zers and Millennials — the two generations that represent the vast majority of the workforce — were likely to consider changing jobs within the following year.
Data do not lie. If these companies do not want to keep losing this battle they have to start caring about their employees. They have to treat their employees great. In this day and age companies need to start to try to be human and actually care about what their employees care about or at least putting it on the same pedestal with the degree at which the company cares about making profit. We need new generational leaders who are high on emotional intelligence.
What do you think? Are companies losing the battle for long term employee retention?
Unfavorable work environment is the main reason people leave a work place. Most people feel is the pay but its not. Yea, the salary structure might be an issue too but there are many more reasons. At the moment, employers are losing the battle because they have been unable to identify what the problem is. Maybe they are too arrogant to notice. There are many opportunities out there these days especially for tech savvy folks so people don't want to work in a place where their mental head is not taken into consideration or a place where they're not valued. In some firms it may be lack of promotion. People stay in a firm for a long period of time without receiving promotion or an increased salary
I applied for a marketing position with a bank about two years ago. I got a call from them for an interview. At the interview I was given a very ridiculous target to achieve in a month. Even the best marketers would find it outrageous but that's not the worst part. The worst part is I had a probation period of 3 months and if after 3 months I'm not able to meet the target I was to leave. Mind you, I'll be paid based on commission. Their strategy works, I guess but not on me.
They take people that are desperate for a job, give them targets that they can't deliver and let them go after 3 months after gathering so much customers as possible for the firm.