Tackling the ‘Turnover Tsunami’
August 6, 2021
According to the Bureau of Labor Statistics (BLS), there were roughly 9.2 million job openings as of the end of May 2021. This represents the highest overall number of openings since the BLS started keeping track in 2000. The Society for Human Resource Management (SHRM), among others, has referred to this mass exodus as the “turnover tsunami.”
For employees, the time has never been better to switch jobs, ask for a raise, or demand more flexible working conditions. Whether companies are asking current employees to take on more responsibilities or existing employees are feeling like they’re undercompensated relative to what they could be making at other companies, employee morale is a significant concern for many organizations.
In this article in HR Daily Advisor, NovoEd VP of Business development and Solutions Consulting Charlie Chung explains how this is a critical time for companies to respond to a need for stronger bonds between employees, with rebuilt onboarding programs that place an an emphasis on organizational and employee purpose.
Read the full article from HR Daily Advisor here.
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