Mercer recently published their 2022 Global Talent Trends Study. Key insights from Mercer’s study center around the relationship between employers and their workforce. Now that the Great Resignation has become top-of-mind for many hiring managers, there is a real opportunity to study how successful management teams have increased employee retention in a time of such high turnover.
According to Kate Bravery, Mercer’s Global Leader of Advisory, Solutions & Insights, “Organizations now have a moment of profound opportunity to pick up the tools of empathy honed during the pandemic – balanced with economics – and carve a new way of partnering that is more relatable, and ultimately more sustainable.”
Key insights from Mercer’s study:
- 70% of HR professionals expect higher rates of turnover this year.
- More than half of employees want to work remotely or hybrid; however, 72% of executives worry about the impact of remote work on company culture.
- 81% of professionals fear burnout this year, with the top reason being a lack of recognition and appreciation.
- There are discrepancies between the 91% of employees reporting they have learned new skills and the 98% of companies reporting skill gaps.
At first glance, the above statistics and key insights from Mercer’s study offer a chance for opportunities to strengthen the relationship between companies and their professionals, especially pertaining to where, when, how, and why they work.
On the bright side, however, Mercer also indicated the areas that successful organizations are excelling in when it comes to employee retention:
- Adaptable management should be able to acknowledge changing values of customers, employees, and investors.
- Employees want to work with companies that have similar personal values.
- Employees want to feel like more than a workforce; they want to feel like partners to their company.
- Improving engagement through health and wellness campaigns that foster employee well-being.
Nowadays, corporate brand and reputation have moved up to the #2 reason individuals decide to join a company, a steep jump from its previous ranking as the #9 reason.
How will you implement these strategies to improve employee retention in your business? Let us know! And you can also view all of APC’s thought-leadership pieces, which cover a range of informational articles for both employers and professionals on topics like resume help, a study on the Great Resignation, top tech hiring trends this year, and more!
Kristen Burgess is the Marketing Specialist at Alliance of Professionals & Consultants, Inc. She has five years’ experience in curating content for digital platforms, social media contributions, and supporting marketing campaigns and strategies. Before joining the APC wolfpack, she worked in digital marketing for software as a service, giving her keen insight into the types of professionals APC hires today. In addition, she likes to stay up-to-date on the most relevant trends within the technology industry through thought-provoking podcasts and newsletters while paying attention to industry leaders’ trends. In her spare time, she serves on the Management Team and helps craft communications for the Junior League of Durham and Orange Counties.
