Companies Should Rethink How They Retain Employees

Second, business growth is outpacing the availability of talent leading to a skyrocketing number of open jobs. For example, the 1.6m hospitality jobs open in January 2023 representsLast, for companies going through layoffs, you can’t ignore or condescend to the employees who remain. These employees are still delivering to your customers or clients, and they’re vocally sharing their employment experience on and offline.

For example, in one of our studies, over 85% of employees at the commercial real estate company CBRE reported that the organization's core values and culture are very important to them. Yet only 7% prioritized their relationship with the organization as the most important. Values matter, but leaders and co-workers matter more. This can directly impact retention efforts and investments.If Covid taught us anything, it’s that we can get bored easily.

On the other end of the spectrum, when the economy is impacted negatively, employees can feel scared, overworked, and under-appreciated as the company pushes to manage profits and growth during a challenging time. One way to manage this is by making it clear employees matter. Hospitality company Montage International anticipated this challenge and leveraged their employer brand, “All Because of You,” during and after the pandemic as a way to brand and market to both new and existing associates.

You’d think with all the layoffs occurring it would cause realization that companies can do more with less

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