The retention of talent is likely to remain a significant risk factor for businesses in 2022 as the ‘great resignation’ trend shows no signs of slowing, says professional services firm PwC.
The pandemic has prompted many workers to reflect more on the ‘why’ of their jobs, with unsatisfactory answers contributing to the growing resignation trend, the firm said.
“In simple terms, in some instances a failure to create employee buy-in and alignment to a company’s strategy and/or purpose and underlying values, and a reduction or absence of incentives vesting, particularly at a C-suite level, has made the barriers to leaving a company much lower.Traditional incentives not working
The problem with this approach is that employers are attempting to ‘buy’ loyalty rather than growing it by identifying and resolving the retention risk in the first place. It is also not uncommon for sign-on bonuses at a new company to match or even exceed retention incentives at the current place of work, it said.
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