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Article – McKinsey Quarterly
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People are feeling tired and purposeless and are leaving their jobs—many without another in hand.
Movin’ out
Employees left the workforce in record numbers last year, and many are staying away. Companies need to rethink how to win them back.
Winning back your workers
In this edition:
A quick briefing in five—
or a fifty-minute deeper dive
Culture clash
They should start by examining their workplace culture: a toxic work environment ranks much higher than compensation as a predictor of attrition.
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‘Great Attrition’ or ‘Great Attraction’? The choice is yours
Bothered and bewildered
Companies are straining under this exodus, but many don’t understand why their employees are leaving—or how to keep them.
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Changing course
Employers have an opportunity to seize this moment, rethink their relationship with their employees, and win back their workers.
‘Great Attrition’ or ‘Great Attraction’? The choice is yours
Dive deeper
Toxic culture is driving the Great Resignation
MIT Sloan Management Review
Article – McKinsey Quarterly
Toxic culture is driving the Great Resignation
MIT Sloan Management Review
Dive deeper
A military veteran knows why your employees are leaving
Article – McKinsey Quarterly
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Go get ’em
To do so, companies can focus on three key areas.
‘Great Attrition’ or ‘Great Attraction’? The choice is yours
Article – McKinsey Quarterly
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Gone for now, or gone for good? How to play the new talent game and win back workers
Article – McKinsey Quarterly
Dive deeper
A military veteran knows why your employees are leaving
Article – McKinsey Quarterly
Gone for now, or gone for good? How to play the new talent game and win back workers
Article – McKinsey Quarterly
Note: McKinsey Global Survey, Aug 2021
4
Almost
certainly
5
Very
likely
Likely
9
Somewhat likely
22
of employees stated that they are at least somewhat likely to leave their current job in the next 3–6 months
40%
Likelihood that employees will leave their current job in next 3–6 months, % of respondents
+1
+2
–1
0
–2
Employees
Employers
–2
–1
0
+1
+2
Somewhat to most important
Somewhat
to most
important
Poor health
Poached by another
company
Development
opportunities
Ability to work remotely
Looking for
a better job
Inadequate
compensation
Valued by manager
Sense of
belonging
Valued by organization
Potential for
advancement
Flexible work schedule
Having caring
and trusting
teammates
More important to employees than employers
More important to employers than employees
Factors that are important to employees versus what employers think is important, standardized scores
10.4×
Toxic corporate culture
2.9×
Failure to recognize employee performance
1.8×
Poor response to COVID-19
3.5×
Job insecurity and reorganization
3.2×
High levels of innovation
Importance of leading factors for attrition relative to compensation
Adria Horn, lieutenant colonel, US Army Reserve; executive vice president of workforce, Tilson Technology Management
—
People need to feel valued and supported, even when they’re not entirely sure why they’re feeling so fragile.”
“
Pay to play
Play to win
Stack the deck
Stack the deck
Seek talent among nontraditional employees and those not in the workforce at all.
Stack the deck
Play to win
Listen to your workers—anticipate and address concerns, foster psychological safety, and create a supportive culture.
Play to win
Pay to play
Restructure compensation packages and consider benefits that help create better work–life balance.
Pay to play
