IRIS' HR boss on the 'Great Reassessment' and the 'big fix' solution to it
With new research showing that two in five employees are actively seeking new roles, IRIS’ HR boss has shared her top tips on how to change your talent acquisition and career progression model to cut down on attrition.
If you’re a business leader or HR professional, you’ve probably heard phrases such as ‘the Great Resignation’, the ‘Big Quit’ and ‘the Great Reassessment’ ad nauseam. But as the evidence of our eyes as well as the data shows, we are still in the middle of what changes Covid-19 wrought – mainly, giving everyone the chance to reevaluate and make some changes to what they prioritised, including work-life balance.
It's a true, yet peaceful ‘worker’s revolution’ and it means that companies without the kind of equitable ethics that make for a good work-life balance are out of luck – and out of money – when it comes to talent retention and acquisition. In fact, data from a Brook Corporate Developments survey of 750 UK-based workers across a variety of industries showed that 40% (two in five) of employees are actively seeking new roles.
And of that 40%, says research from the University of Essex, the majority are staying within not only their industry, but also within the remit of the job title and role from which they moved. So, what can we extrapolate from that data? This humble journalist, who spends every day analysing such data and seeking expert opinion on the topic, suggests that the extrapolation is simple: when it comes to how they treat their employees, organisations simply must up their game.
Stephanie Coward, Managing Director of Human Capital Management at IRIS Software Group, agreed.
“We are still officially in the The Great Reassessment era, where employees are reevaluating their personal needs, career progression and where they want to be in the future,” she told HR Grapevine in an exclusive interview.
“For HR leaders who want to remain in the talent game, it has never been more important to prioritise their employees’ growth if they’re to restore trust, and to nurture and retain existing talent.”
IRIS, which is one of the main go-to software firms in the UK and Ireland for payroll, has also rolled out some new and interesting HR- and education-focussed platforms and SaaS products.
Coward has been with the company since May – a big move, considering she was with her previous company, Capita, for 17 years.
When people are happy and comfortable at work, they tend to produce better work
myGrapevine+ is packed with exclusive content for a growing community of forward-thinking HR and business leaders. These how-tos, deep dives and video interviews aren’t available anywhere else and you can set up your account in a few minutes.