Aug 08, 2022
Lack of career progression is the number one reason people are leaving their jobs, according to a new McKinsey study.
McKinsey identified three sub-trends within this continued wave of the great resignation:
The study also found that 40% of respondents were considering leaving their jobs in the next 3-6 months.
So what?
Old models of recruitment, retention and incentivisation simply aren't working. Combined with the rising cost of living and sky rocketing inflation, employers are stuck in the middle. McKinsey's data shows massively high movement out of the not-for-profit sector sector in the last two years, with 72% of those who quit their jobs not returning to the sector.
How can you nurture and retain talent by giving people tracks for career progression and growth? And how can you build culture in hybrid working environments?