Modern organizations have moved beyond talent retention strategies. Instead, they are ensuring their workforce is resilient by investing in long-term, trust-enhancing benefits.
A newly released Global Talent Trends study by Mercer outlines strategies to create a more sustainable Employee Experience:
- 55% of respondents are enhancing Employee Experiences
- 50% are investing more in benefits to improve well-being
- 49% are improving workforce planning
Kate Bravery, Senior Partner Mercer, summarized their report,
“Organizations are taking the opportunity to reset their People strategy to intentionally build more sustainable, more inspiring, less exhausting work models.”
McKinsey’s 2024 Future of Wellness research reported 58% of US respondents prioritizing wellness over a year ago. Consumer expectations influence what is expected at work. McKinsey’s research also found employee disengagement and attrition—more common among workers with lower well-being—could cost a median-size S&P company between $228 million and $355 million a year in lost productivity.
A 20-year, west coast based retrospective study on Sabbaticals debunked the myth of employees leaving upon return from an extended leave. Only 13% of participants expressed a desire to leave in future years.
Instead, they returned revitalized and committed from a twelve week, organization sponsored Sabbatical. They paused on purpose and leveraged their extended time away, Three high value outcomes can be noted:
- Leaders leveled up. They enhanced strategic skill sets, practiced high-trust behaviors, and returned with vitality.
- Teams leveled up. Trust and on the job development fueled succession plans.
- Organizations leveled up. Stakeholders observed new team capabilities and creative workflows.
As the Durfee Foundation report noted leader John Maceri, “…returned from Sabbatical energized to tackle “big, audacious goals.” He says that without the Sabbatical he would not have had the opportunity to “really step back and think deeply about what’s next for me and the organization.” He returned from Sabbatical wondering, “who are we as an organization?” and engaged the staff and board in talking about and conceptualizing the next 10 years.”
Creating conditions in your organization for talent to stay can be easier with a trusted partner.
Consider The Shift Matters as an extension of your Talent Management Team. We leverage best practices to ready talent for what is coming. www.theshiftmatters.com
