



Recruiting News Network
Recruiting
News
OperationsThe Recruiting Worx PodcastMoney + InvestmentsCareer AdviceWorld
Tech
DEI
People
People on the Move
The Leaders
The Makers
People
People on the Move
The Leaders
The Makers
Brand +
Marketing
Events
Labor +
Economics
SUBSCRIBE





Worklife

Employees are staying put — but how long will that last?

HR Dive

May 28, 2024

Worklife

Employees are staying put — but how long will that last?

HR Dive

May 28, 2024

Photo by Berkeley Communications on Unsplash

Dive Brief:

  • In what’s being dubbed “the big stay,” employees are staying put for now, a seeming reversal of the great reshuffling (the recent talent migration trend also known as the great resignation), according to a May 16 report from LinkedIn.
  • The big stay — the current sustained period of low attrition — has been marked by a significant drop in attrition rates over the past year, a 26% decrease year over year since April 2023, LinkedIn data shows. Although experienced by most industries, the decline has been more pronounced in certain sectors, including hospitals and healthcare (down 31%); retail, accommodation and food services (down 30%); and consumer services and manufacturing (down 27%), according to the report.
  • This could simply be a return to business as usual, with quit rates in the U.S. back at levels seen in the late 2010s, Greg Lewis, LinkedIn’s senior content marketing manager, writes, citing Kory Kantenga, LinkedIn’s head of economics for the Americas. However, “it’s still unclear whether attrition will continue to fall to truly historic lows, plateau around the prepandemic baseline, or reverse course and rise as quickly as it fell,” Lewis wrote.

Dive Insight:

Employers should put this current trend to good use, experts say. The slowdown in attrition offers them a great opportunity to strengthen their retention practices, and that may be critical, Lewis emphasized — especially since attrition could bounce back “very quickly.”

Lewis pointed to Microsoft’s latest Work Trends Index, done in collaboration with LinkedIn, which found that 46% of professionals globally said they’re considering quitting in the year ahead, up from 40% who said the same thing during the great reshuffle.

“It’s during these moments of reacceleration that those who are prepared win market share,” added LinkedIn Chief Operating Officer Daniel Shapero. “By taking some simple steps now, you can put yourself in a stronger position to retain and attract the right people for the next inevitable reshuffling of talent.”

Melissa Jezior, president and CEO of Eagle Hill Consulting, gave similar advice in a statement accompanying an April report from her firm. The report showed that employee confidence in their organization’s leadership, culture, compensation and job market opportunities rebounded during the first quarter of 2024.

Productivity can improve when fewer employees resign, Jezior said. But this doesn’t mean employers should retreat from monitoring employee engagement initiatives because economic conditions can change quickly, she added.

The slowdown in attrition also allows employers to take a more strategic approach to hiring, a Robert Half exec stated in February with the release of a report on the slowdown.

Surveyed employees told the talent solutions and business consulting firm they were staying with their employer for several reasons, including that their current job offered a level of flexibility they weren’t willing to leave. They also said they felt fulfilled in their current role and well-compensated for their work.

‍

Read full article here

Employers can put themselves in a stronger position to retain people when the next “inevitable” talent reshuffling occurs.

What we're reading

‘We’re all fighting the giant’: Gig workers around the world are finally organizing

by
Peter Guest
-
rest of world

Gig workers are connecting across borders to challenge platforms’ power and policies

Got Zoom fatigue? Out-of-sync brainwaves could be another reason videoconferencing is such a drag

by
Dr. Julie Boland
-
The Conversation

I was curious about why conversation felt more laborious and awkward over Zoom and other video-conferencing software.

How to Purchase an Applicant Tracking System

by
Dave Zielinski
-
SHRM

Experts say the first step in seeking a new ATS should be to evaluate your existing recruiting processes.

View All Articles

Events
No items found.
View All Events
Related Articles

Here’s what your future workforce will really look like

May 14, 2025

UNLEASH America 2025: HR leaders say ‘the very nature of work is changing before our eyes’

May 13, 2025

© 2024 recruiting news network.
all rights reserved.



Categories
Technology
Money
People
TA Ops
Events
Editorial
World
Career Advice
Resources
Diversity & Inclusion
TA Tech Marketplace
Information
AboutContactMedia KitPrivacy Policy
Subscribe to newsletter
