Career

Linked – HR leaders report waning optimism around retention, engagement

ByMike McBride Reading Time: 2 minutes

HR is not feeling so great about employee retention and engagement. That makes sense. It’s becoming obvious that many employers have nothing to offer regarding long-term trust and career development. I’m surprised the numbers indicate so many think things will remain the same as opposed to getting worse, but maybe that’s a sign that they are seeing worse retention and engagement already.

The outlook on retention dropped, with 22% of CHROs expecting employee retention to decrease during the next six months, up from 18% during the third quarter. About half expect retention to remain steady.

Confidence regarding engagement has declined as well, with 31% of CHROs expecting engagement levels to decrease during the next six months, up from 25% during the third quarter. About a third believe engagement will remain the same.

The question is, why? We can point to the large number of layoffs in 2022-23, but the bigger picture may be something else. I thought Simon Sinek got to the crux of the issue in this video. He was making a point about the struggle we have with difficult conversations at work and how we’ve never taught managers how to have them, so younger workers aren’t seeing any examples of it, but he starts out talking about the one change in the business world that I see many people talking about over and over again. Our current version of capitalism exists to make money for shareholders, customers, the community, and employees are no longer the point.

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? original sound – TheBrandSpike | Business Vids

This topic also comes up in Ed Zitron’s newsletter this week about Mark Andreessen and what venture capitalists have done to the tech world. It’s not about creating a great product for customers, and it’s not about creating a sustainable, profitable company. It’s about jacking the stock price and getting out with your profits.

Is it any wonder employees don’t give AF? None of this benefits them beyond getting a paycheck, so you get what you pay for.

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