According to Microsoft, 41% of the workforce is planning on changing jobs within the next year. Harvard Business Review has the following statistics from 2021:
“According to the U.S. Bureau of Labor Statistics, 4 million Americans quit their jobs in July 2021. Resignations peaked in April and have remained abnormally high for the last several months, with a record-breaking 10.9 million open jobs at the end of July.”
How much does that cost?
The Society for Human Resource Management estimates that it costs between 6-9 months of salary to replace an employee. However, for technical positions; it can be between 100-150% and for C-Suite positions up to 213%.
Can your business afford those costs? Can you truly afford to spend that much of your payroll on replacing people? Can you keep servicing your customers while losing that many people? Can you afford to lose your top people to your competitors?
If you want to capitalize on the Great Resignation by turning it into the Great Retention and, going further, the Great Attraction, check out this week’s Leadership Launchpad Project. Susan Hobson & I talk about the opportunity that lies in the Great Resignation, the benefits of building trust and why you need Leadership 2.0 right now. Find it on Apple, Spotify, Stitcher, Google Podcasts and more!
For leadership programs and services that will help you learn how to build trust, psychological safety & high-performance mindsets with your team, check out Elite High Performance or book a call with me to chat about what we have to offer.