Two things come to mind immediately. One is that I don't put much stock in polls like the one in this article. Those poll participants may say they're considering changing jobs or considering doing anything, but that doesn't mean they're going to.
The second thing is that the millenials (and maybe the Gen Z'ers, I'm not exactly sure where the cutoff is) are bringing a lot of bullshit into the world in the name of changing everything for the sake of just changing everything. Ten years ago there were only two genders, and that was an indisputable fact. Even if you're a transsexual, you're still only going to identify as male or female. But I guess I missed the article in Nature that a bunch of new human genders have been discovered recently. It's fucking disgusting
But that's a rant about what I'm most annoyed about. As far as the question of whether employment, long-term or not, is fading fast is an absurd one. What happens if all these young people stop working? Somebody is going to have to trade their labor for money to support them. My guess is that they're going to have to grow up very fast once they figure out that this attitude toward the job market is untenable.
Topic: Is long-term employee retention a losing battle? - page 8. (Read 1220 times)
many companies that from the past until now still have not changed the rules and employees who are not paid attention to.
The trend of mass labor resignations occurred in several countries. In fact, a survey released by a professional company, Robert Walters, noted that 77% of professional workers in Indonesia are considering self-employment or resigning.
those who haven't quit, haven't found a new place to work.
so you can be sure the company will continue to decline if the quality and treatment of employees has not been changed.
The trend of mass labor resignations occurred in several countries. In fact, a survey released by a professional company, Robert Walters, noted that 77% of professional workers in Indonesia are considering self-employment or resigning.
those who haven't quit, haven't found a new place to work.
so you can be sure the company will continue to decline if the quality and treatment of employees has not been changed.
I think the stage is being set for people to become more motivated to learn about economics, business and finance.
Failing to comprehend basic fundamentals of business makes workers powerless in this world. To earn their fair share and maintain a stable working environment, workers must understand what is happening in order to make the right choices and support the right things. Unfortunately, in many cases workers do not recognize the trends and precedents in play. Which leads to them supporting the wrong people and things.
As recession sets in and standards of living decline. It could provide people with incentive to acquire knowledge. Prior to 2020 there was no need for people to care about business or finance. There was no motivation to learn.
Now that people are being directly affected by it, their attitude and mentality could shift. They could suddenly start to care about and appreciate many of the things they took for granted.
I think we're already observing this to a degree. People used to be completely apathetic and lackidaisical on the topic of politics. Suddenly everyone cares about politics, as it is directly impacting their lives. The same precedent could apply to business and finance.
Failing to comprehend basic fundamentals of business makes workers powerless in this world. To earn their fair share and maintain a stable working environment, workers must understand what is happening in order to make the right choices and support the right things. Unfortunately, in many cases workers do not recognize the trends and precedents in play. Which leads to them supporting the wrong people and things.
As recession sets in and standards of living decline. It could provide people with incentive to acquire knowledge. Prior to 2020 there was no need for people to care about business or finance. There was no motivation to learn.
Now that people are being directly affected by it, their attitude and mentality could shift. They could suddenly start to care about and appreciate many of the things they took for granted.
I think we're already observing this to a degree. People used to be completely apathetic and lackidaisical on the topic of politics. Suddenly everyone cares about politics, as it is directly impacting their lives. The same precedent could apply to business and finance.
By caring, they're going to have to start paying employees more. I haven't dug down into the reasoning of employees leaving, but I can only assume it's compensation related. Wages aren't keeping up with inflation in most countries so it would make sense why people would leave their job for more lucrative opportunities. Companies will either churn through employees or be forced to pay a wage that's competitive.
That's a good point. Inflation being one metric, the fuel costs associated with commute (along with rising fuel costs) probably play a huge role too. Many companies are asking workers to return back to the office, I didn't consider that.
I've known companies lose good employees because they won't offer decent pay rises, some office and hybrid jobs don't offer higher pay either to cover the travel expenses - so why wouldn't you work from home if you could? (a 40 minute journey is over £150 in fuel a month - assuming 40 mpg).
That's a good point. Inflation being one metric, the fuel costs associated with commute (along with rising fuel costs) probably play a huge role too. Many companies are asking workers to return back to the office, I didn't consider that.
What do you think? Are companies losing the battle for long term employee retention?
Some companies do well in terms of taking care of their employees but some other companies really need to just improve, create a good working environment for the employees and provide incentives to keep them encouraged. The general mindset some people have while working for a company where they don't treat their employees well is to just gather enough money to go set up a business for themselves. Even with the current economy some people have calculated that setting up a business will be more beneficial seeing that these companies they've been working for a long time have refused reviewing their salary even with the rising cost of living, that is bad. 
I think they're losing the battle because they don't understand what they're actually doing. I've seen a lot of arrogant employers on social media that say it might not be worth hiring people who change jobs a lot (the example given being 8 in 5 years, which might be excessive or not depending on the industry - someone working for startups might expect to go through 10-80 in that same time, someone working for a fairly good employer and receiving constant and consistent pay rises and promotions will probably only change jobs once in that time: if at all). If you don't expect to pay your employees well and are in a market sector in high demand (more jobs than qualified people), expect them to leave.
I've known companies lose good employees because they won't offer decent pay rises, some office and hybrid jobs don't offer higher pay either to cover the travel expenses - so why wouldn't you work from home if you could? (a 40 minute journey is over £150 in fuel a month - assuming 40 mpg).
A lot of companies retain employees by adding personal touches and ensuring people are well compensated and know they're needed in companies. I know people who have worked for a company for 10-40 years though and I couldn't imagine doing that, it might also look bad too if you're not switching employers (you only know how to do one job then).
I've known companies lose good employees because they won't offer decent pay rises, some office and hybrid jobs don't offer higher pay either to cover the travel expenses - so why wouldn't you work from home if you could? (a 40 minute journey is over £150 in fuel a month - assuming 40 mpg).
A lot of companies retain employees by adding personal touches and ensuring people are well compensated and know they're needed in companies. I know people who have worked for a company for 10-40 years though and I couldn't imagine doing that, it might also look bad too if you're not switching employers (you only know how to do one job then).
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?
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?
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