How to Retain Talent during The Great Resignation

Retain Top Performers | The Great Resignation Resource Center

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Explore CBIZ’s latest insights on retaining your most valuable resource — your top employees. Click through the resources below for proven, effective retention strategies.

Articles

Adding to an already complex work landscape, the looming economic downturn comes amid an unprecedented labor shortage and a global pandemic. This combination paints a complicated and anxiety-inducing time for HR leaders everywhere. The real challenge for HR leaders, however, is to reimagine talent management while balancing rising employee expectations and business needs during market turmoil — not an easy task. Use this time to reimagine your organization leveraging the following expertise.

There's no question that women in leadership have a positive impact on the workplace; benefits include improved productivity, enhanced collaboration and decreased employee burnout. While we’ve made substantial strides toward creating more gender-inclusive work environments, many organizations still don’t view gender diversity as a priority because they don’t see how it could benefit their bottom line.

In November of 2022, U.S.-based employers reported 76,835 layoffs — 129% above the 19,052 reported cuts announced in the same month of the prior year. Significant amounts of displaced employees coupled with a lowered economic output is a significant indicator of one big thing — a recession. The pressure this creates for organizations to weather whatever the economic downturn throws their way is tremendous, making the fact that only 29% of companies have a formal exit management plan in place alarming.

Effective succession planning does more than anticipate the next steps for filling an open position. It also creates internal development strategies that prepare employees to step into the role. Along with seamless transitions, succession planning cultivates a culture of career progression, which can significantly impact employee retention. 

Still, only one in five companies has a formal succession plan in place. For many, it comes down to not knowing where to start. Take these five steps to jumpstart succession planning within your organization.

Can you believe it? In what feels like the blink of an eye, 2022 has phased out and a new year of opportunities, decisions and uncharted territories is here. January is often acknowledged as a blank slate—a fresh beginning for people to rectify unhealthy routines and begin new, advantageous ones.

Below, we highlight some of the top ways business leaderscan make the most of this fresh start and implement tactics that are conducive tosuccess in 2023.

Live and On-Demand Webinars

Webinar
In this webinar, you’ll hear from our employee benefits and life insurance solutions experts on creative ways employers can put more money back in their pockets while attracting and retaining high-level talent.
Webinar
If you’re seeking innovative ways to reduce turnover, increase health plan participation and put more money back in your employees’ pockets, this is a webinar you won’t want to miss.
Webinar
During this webinar, you’ll hear from our CBIZ experts on the power of employee-paid benefits amid the impending recession.