Is long-term employee retention a losing battle?

Is the concept of a job for life dead?

The mass reassessment of careers people have undergone over the past few years – described by many as the Great Resignation, by others as the Great Reshufffle – is showing no signs of calming down. In fact, in the U.K., the trend seems to be accelerating.

More than 6.5 million people (20% of the U.K. workforce) are expected to quit their job in the next 12 months, according to estimates from the Charted Institute of Personnel and Development (CIPD), which published the data in June after surveying more than 6,000 workers. That’s up from 2021, when 16% of the U.K. workforce said they plan to quit within a year, according to the CIPD. Meanwhile, in March Microsoft’s global Work Trend Index found that 52% of Gen Zers and Millennials — the two generations that represent the vast majority of the workforce — were likely to consider changing jobs within the following year.

Tania Garrett, chief people officer at Unit4, a global cloud software provider for services companies, argued that it is time for organizations to get real — they are no longer recruiting people for the long term. Instead, they should embrace this reality, and stop creating rewards that encourage more extended service from employees. 

This article was first published on DigiDay’s future-of-work platform, WorkLife, in October 2022 – to read the complete piece, please click HERE.

EY and others are offering employees MBAs and masters degrees – but is it a good investment?

When global accountancy firm EY discovered, through an internal survey, that almost three-quarters (74%) of its 312,000 staff in over 150 countries wanted to “participate in activities that help communities and the environment,” action was swiftly taken.

In late February, a unique course was launched: the EY Masters in Sustainability, in association with Hult International Business School in the U.K. The best part? It is free for all EY employees, regardless of rank, tenure or location.

The online-only learning program, which students can work through at their own pace, is designed to expand sustainability and climate literacy among EY workers. The hope is that these newly acquired skills will accelerate innovative sustainability services for clients.

EY’s budget for staff training is likely to be significantly larger than most other organizations. But as the Great Resignation trend drags on, more companies realize that investing in employee education – even if it’s not directly related to work – is good value. It can boost morale, generate fresh thinking, accelerate innovation, and – possibly most importantly right now – help attract and retain the best people.

This article was first published on DigiDay’s future-of-work platform, WorkLife, in July 2022 – to read the complete piece, please click HERE.

WTF is an employee engagement platform?

Every successful company has realized that its people are its greatest asset for decades – if not centuries. Now, more than ever before in the history of work, employers have to understand in great detail what their employees want and need because of the seismic shifts happening. 

With most organizations figuring out flexible and hybrid working models, their employees are the most critical stakeholders. For this reason, to gauge their sentiments, companies are turning to employee experience (EX) platforms.

What exactly are EX platforms, and when did they become a thing?

This article was first published on DigiDay’s future-of-work platform, WorkLife, in May 2022 – to continue reading please click HERE.