talent challenges

Addressing Talent Challenges Through a Comprehensive Approach

Transform to Retain: Addressing today’s talent challenges through a comprehensive approach to career planning, performance management, compensation, and skill development

Over the last year, the Great Resignation has left companies reeling from talent challenges, with 4.3 million employees leaving their jobs in January of 2022. The talent market has become wildly competitive, so how do organizations of today attract, engage, and retain valuable employees? 

Employers are all too familiar with the costs of replacing an employee. Along with the cost of recruiting and training new employees, high workforce turnover also harms workforce morale, and the customer experience. On the other hand, more and more employers are realizing that an engaged, satisfied workforce presents a significant competitive advantage. Engaged and committed employers are not only less likely to leave, but they also perform better, are more satisfied in their roles, and are more productive.

The organizations currently succeeding in this area have a key common trait: an integrated, transparent approach to career planning, performance management, compensation, and skill development.  

Why are employees leaving? 

A new Pew Research Center survey identified the top reasons why Americans quit their jobs last year: 

  1. Low pay (63%)
  2. No opportunities for advancement (63%)
  3. Feeling disrespected at work (57%)

It’s interesting to note that a lack of opportunities for advancement is weighted equally with low pay. Although remuneration is important, it’s only one aspect of the employee experience. Those who quit their jobs in 2021 and are now employed elsewhere have seen some improvement in their current work situation compared with their previous jobs: 

  • Earning more money (56%)
  • More opportunities for advancement (53%)
  • An easier time balancing work and family responsibilities (53%)
  • More flexibility with regards to work hours (50%)

What these numbers show us is that employees are not assets or resources—they are human beings. They want more than a high salary. They want a company culture that supports them, and a career with purpose and prospects. That’s why the ideal employee experience focuses on the whole individual: mental and physical health, along with aspirations for professional growth and development. 

A recent Gallup study found that more than half of workers in the U.S want to upgrade their skills, and 65% of workers refer to employer-provided upskilling when evaluating a potential new job. At all levels of the organization, training and employee engagement go hand in hand, and engagement is closely linked to retention. 

Business transformation initiatives simply can’t afford to fail 

In today’s competitive talent landscape, business transformation needs to take a people-centered approach to create sustainable change, which requires buy-in from employees at all levels. Some are even referring to this time in our history as the People Revolution. Business leaders need to adopt changes that avoid employee burnout, improve employee engagement, and minimize turnover. Failure to do so could be disastrous in organizations dealing with a toxic work culture.

It’s no small task for leaders to engage their teams and gain employee buy-in to the transformation effort. Further, organizations undergoing a transformation will frequently introduce new leader attributes or behaviors, some of which require significant adjustments to past behaviors. Leaders require a clear understanding of the things they’re accountable for, as well as the skills they need to develop in themselves and their teams. Training can offer strong support and help leaders feel confident in this process, and also help to cultivate a learning culture where employees at all levels have a growth-oriented mindset.

Create growth opportunities at all levels of the organization

As studies (and our own experience) suggest, most employees want to grow and evolve along their career paths, opening opportunities to both earn more and expand their skill sets. Blueline’s training and communication tools can facilitate your organization’s transformation to an integrated, transparent approach to career planning, performance management, compensation, and skill development. We can help your organization to become a preferred employer by investing in your people, making growth part of the culture, and enhancing employee engagement. 

Contact us to schedule a consultation to learn more about our learning solutions, and ways to overcome talent challanges.

Recent Posts on the Blueline Blog

· Areas of Expertise

5 strategies to upskill your workforce in 2022

Driven by technological advances, business model changes from the pandemic, and new attitudes towards work, many organizations now need to identify and train for skill gaps within their current workforces. To address this need, companies are pursuing ambitious talent agendas that involve reskilling and upskilling existing talent to support the future organization. What exactly is upskilling and why is it important in 2022?

bluelinesims

Empathy, employee engagement, employee retention, ExperienceBUILDER, hybrid learning, Leadership Development, Onboarding, upskill

· Align

Redefining career development in 2022

We’ve seen this uncertainty play out through the Great Resignation, leaving employers wondering how to deal with employee dissatisfaction and hold on to their workforces. What we know now is that promotions and positions aren’t the entirety of career development. Instead, it’s time for a mindset shift in how we evaluate career development and the impact it can have on employee satisfaction.

bluelinesims

Career Development, HR, Leadership, Leadership Development, simulation

· Innovation

Is the metaverse the next dimension of L&D?

The new world of work is here, and organizations are exploring how to engage a new workforce and improve employee experiences. As many businesses start implementing social and learning interactions in virtual environments, mentions of the metaverse are entering the conversation. Is the metaverse the next dimension for L&D? Although it could hold great potential, the answer is that we don’t quite know enough yet.

bluelinesims

Capabilities, metaverse, Training, virtual reality

· Simulations

The problem with PowerPoint-based training 

The new world of work necessitates remote learning. But with minimal facilitator training and the limitations of synchronous virtual course design resources and tools, training can feel impersonal and learners isolated. As a result, its effectiveness is greatly diminished. With virtual and hybrid work, it’s time for trainers to provide immersive development experiences.

bluelinesims

blueline simulations, hybrid learning, hybrid training, hybrid work, Mobile Accessible eLearning

· Innovation in Learning

Can VR develop soft skills in a meaningful way?

Developing soft skills has become more important than ever in a hybrid environment. According to Harvard Business Review, 59% of hiring managers and 89% of executives surveyed reported having difficulty recruiting candidates with the requisite soft skills. One of the ways businesses are helping their people develop these vital skills is by using VR.

bluelinesims

Capabilities, hybrid learning, hybrid work, Mobile Accessible eLearning, soft skills, virtual reality, VR

Tel. 813.269.7467 Ext. 212 | 218 E. Bearss Ave. | Suite 419 | Tampa, FL 33613
All rights reserved. Explore Blueline Simulations | Privacy Policy