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Will the “Great Stay” turn into another “Great Resignation”?

Over half of the workforce in the US is actively looking for new jobs. Back in 2020, we saw massive layoffs amidst a global pandemic, which was followed by the “Great Resignation” where people resigned in droves as the economy bounced back and companies started hiring aggressively again.

While we’re probably not going to see quite such a dramatic shift following the layoffs of the last 18 months, many people are feeling stagnant, and I suspect companies are going to need to put more thought into their own retention strategies in the near future.

A few resources:

1. Erica Keswin’s book, Retention Revolution is a great read on shifting how we think about retention. Her book suggests reframing how we think about retention and supporting employee growth - even when that may sometimes lead them away from your company. She advocates for a relationship-first approach to management and leadership, for making the workplace more flexible to meet the needs of the modern workforce. She dives into a number of case studies (including sharing some examples from my own workplace which is how I was introduced to this book!)

2. The monthly BLS reports are always a treasure trove of insights into the state of the workforce, and this post from Professor Paul Hill pulls out an important data point - that median tenure for salaried workers has fallen to 3.9 years, coinciding with a loss in flexibility - lots of research out there that shows that hybrid/remote work increases employee retention. He cites Nick Bloom here who is a great follow for anything remote-work related!

3. Thought this was really interesting insight on C-suite tenure in tech from Matt Schulman, CEO at Pave, with surprisingly short tenures for GTM execs in particular. Things this left me wondering: what’s behind these shorter tenures - is this about unrealistic expectations that are virtually impossible for these folks to meet, or are these execs simply in high demand? How are companies approaching succession planning and developing a leadership bench? And how are these companies approaching employee retention through the layers when folks are seeing these shorter tenures at the most senior levels?

Awesome Talent Practices in the Wild!

This section will share innovative ideas and practices from individuals and companies. I’ll share some that I spy, but you are always welcome to brag about your work!!

This week, I wanted to share some resources to support communities impacted by Hurricane Helene.

Sarah Brock (who I know from our teaching days!) shared links to support impacted school districts.

You can support the United Way’s Hurricane Helene Disaster Relief and Recovery fund here.

World Central Kitchen is always one of my go-to’s for donations, and they are supporting with Hurricane Helene.

Mutual Aid Disaster Relief works to get money and resources directly into the hands of those affected.

Supporting our Community

Looking for a job? Hiring? Got a resource to share? Send them my way!

Zapier is a hiring a new Head of Total Rewards!

A former colleague, Jocelyne Wright-McLemore, is hiring a Total Rewards Analyst to join her team at Webflow!

Shannon Kenyon is hiring an L&D contractor!

The team at Charthop curates lists of HR/People Ops positions - check them out here!