The State of Talent Optimization
300+ executives reveal the cost of the “Big Quit” and the top drivers of employee retention.
Talent optimization helps businesses avoid the sting of resignation by putting people in roles where they soar.
In November 2021, The Predictive Index surveyed 326 executives about The Great Resignation. Not only did they share their thoughts on why their people are quitting, but also their own mounting frustrations with work.
As our report shows, companies that have the best odds of combatting churn recognize the value of their people and put them in environments where they thrive. They’re achieving success with talent optimization.
1 in 5 workers quit in the last 6 months.
The study began by asking executives the following question: “To your best knowledge, what percentage of your workforce quit in the past 6 months?” The average response across all industries was 20%.
75% of executives say The Great Resignation impacted their financial stability.
When asked whether The Great Resignation has impacted their balance sheet, 75% of business leaders agreed.
Companies with the right people in the right roles have 42% lower turnover.
A staggering 76% percent of executives indicated they don’t have the right people in place for their strategy. That stat alone may raise some eyebrows, but here’s the kicker:
Companies that do have the right people experience an average attrition rate of 13%, compared to 22% among their peers. (That’s a nine point improvement, amounting to a 42 percent change).
Remote-friendly companies are experiencing 33% lower turnover.
Our researchers also compared turnover rates based on company remote work policies. Executives at fully on-site organizations reported a turnover rate of 24%. Turnover rate drops to 16% at remote-friendly organizations—a 33% percent change.
As more companies explore a long-term hybrid work model, they’re looking to strike the right balance for the business and their people. While there’s no one “right answer,” you can get invaluable direction simply by understanding employee concerns and needs.
Learn what’s driving The Great Resignation—and how talent optimization can help you turn the tide.
Download our full 40+ page report, and get more than 25 key findings detailing:
- What’s driving employee attrition
- Executives’ top talent priorities in 2022
- How companies are reducing turnover
- And more