Reversing the Great Resignation

In 2021, American workers said “I quit” to their bosses a record 40 million times. The phenomenon has been dubbed The Great Resignation. And it isn’t just confined to the US. According to a recent Microsoft survey, 41% of people around the world are considering leaving their employer this year, with reasons ranging from a sense of isolation to digital burnout and lack of career development.

Fatal attrition

Organizations that are used to losing a small number of employees each year are now seeing turnover rates of 20% or even higher. Few expect the situation to improve any time soon. Surveyed at the end of 2021, 74% of professionals said they believed employee turnover would only increase in the coming year.

A global job architecture built on talent data

Many companies are now using a professional HR tech platform to support their talent mobility, talent acquisition and talent management activities. In so doing, they are aiming to better understand and close talent gaps with greater speed and accuracy than ever before.

A major problem with many platforms, though, is that while they provide an opportunity for an individual employee to have better career opportunity visibility, they fall flat in providing relevant job and career information because the underlying job and career architecture of the organization is ill-defined.

Korn Ferry’s Intelligence Cloud solves this problem because it’s based on a unique database of Success Profiles™ that allows organizations to organize and normalize roles and skills and, ultimately, provide their employees with better, more targeted career opportunities.

Read more about the Great Resignation in our paper.