BEST Human Capital & Advisory Group’s Post

2020 witnessed a significant power shift between employees and employers. Now, with the Great Resignation behind us, companies are encountering a new challenge: retaining employees. The U.S. quit rate has held steady at 2.2% for the past seven months, signaling a lull in employee turnover. This presents a valuable opportunity for employers to focus on succession planning and improving their value proposition. As we navigate this evolving landscape, many organizations may feel uncertain about talent retention strategies. I am pleased to offer my expertise as a resource for proactive, strategic, and long-term discussions. Learn more: [Link to the full article here] #EmployeeRetention #SuccessionPlanning #TalentManagement

Why are both employers and employees holding their breath in the current labour market? A great article from Bernard Coleman on "The Great Wait" that I highly recommend reading. . They shouldn’t be. On the contrary, both should keep investing: Employees – stay curious and continue developing your skills. Employers – keep investing in your people. #careercoaching,#LeadershipDevelopment,#TalentManagement

🚨Attention hospitality HR and Operations leaders!🚨 Are you tired of constantly dealing with high employee turnover rates? Are you worried about the financial impact and burden it places on your remaining employees? You're not alone. According to a recent report, 33% of U.S. hiring managers believe employee turnover will increase in the next few years. But fear not, there is a solution. Employee retention has become a top priority for companies, even surpassing revenue or sales growth. And the key to increasing retention? Succession planning. Stay ahead of the staffing curve and have a bench of successful leaders ready to step up. Succession planning is crucial for the growth, success, and morale of your current employees. In the dynamic landscape of the hospitality industry, where guest satisfaction and operational efficiency are paramount, succession planning is even more critical. By identifying and nurturing potential leaders, businesses can maintain a competitive edge and fortify themselves against unforeseen challenges. But don't just take my word for it. Industry leaders have seen the benefits of succession planning firsthand, with testimonials highlighting how it has facilitated uninterrupted excellence in service and management continuity. Plus, industry statistics show a direct correlation between robust succession planning practices and organizational longevity and profitability. Let's work together to create a stronger, more resilient industry. 💪🏼 #hospitalityindustry #successionplanning #employeeretention

Like the economy, the job market experienced volatility over the last few years. Quitting rates have dropped significantly since The Great Resignation. So how can employers use this time to their advantage and make sure employees are engaged and connected? Seismic Chief People Officer Linda Ho offers advice to business leaders: "Create an environment that is setting employees up to weather any cycle by taking the time to prioritize engagement and supporting their careers. Because employers that put in the work now and differentiate themselves early can and will shelter themselves from the impact of the next era, whatever that may be." Read more in Employee Benefit News:

A growing number of workers worldwide are considering changing employers within the next year due to rising workloads and the rapid pace of technological change, surpassing the levels seen during the "Great Resignation" of 2022, a report by PwC said. #GenAI #HR #FutureOfWork

Like the economy, the job market experienced volatility over the last few years. Quitting rates have dropped significantly since The Great Resignation. So how can employers use this time to their advantage and make sure employees are engaged and connected? Seismic Chief People Officer Linda Ho offers advice to business leaders: "Create an environment that is setting employees up to weather any cycle by taking the time to prioritize engagement and supporting their careers. Because employers that put in the work now and differentiate themselves early can and will shelter themselves from the impact of the next era, whatever that may be." Read more in Employee Benefit News:

Like the economy, the job market experienced volatility over the last few years. Quitting rates have dropped significantly since The Great Resignation. So how can employers use this time to their advantage and make sure employees are engaged and connected? Seismic Chief People Officer Linda Ho offers advice to business leaders: "Create an environment that is setting employees up to weather any cycle by taking the time to prioritize engagement and supporting their careers. Because employers that put in the work now and differentiate themselves early can and will shelter themselves from the impact of the next era, whatever that may be." Read more in Employee Benefit News:

More than half of workers in the UK point to the fear of the unknown (59%) as holding them back in their careers. Employees expect employers to guide them through uncertainties with upskilling and future readiness. Despite the end of the "Great Resignation," high employee expectations persist. For more insight as to how employers can provide stability, engage their passive talent pool and improve retention read the article here 👉 https://lnkd.in/e9NaS9xG #WorkplaceTransformation #AssessingCulture #LHHLeadershipDevelopment

Did you know- turnover cost their companies an average of $36,295 annually in lost productivity and rehiring costs- ? It's time to revisit your Human Capital Management plan and retain your employees!

Thirty-three percent of U.S. hiring managers believe employee turnover will increase at their company in 2024, leaving a financial impact and burdening remaining employees, according to a Feb. 28 report from Express Employment Professionals and The Harris Poll. Among those who anticipate higher turnover, hiring managers pointed to top reasons such as better pay or benefits elsewhere (38%), increased workplace demands (35%), employees resigning (33%), employee feelings of being overworked (31%) and a competitive job market (26%). #hr #workforce #turnover #attrition #totalrewards #compensation