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May 21, 2024

As I prepare to work with clients and make decisions about what to share, I am often reflecting on relevant data.  I mean really, if you aren’t considering the data - are you really a leader?  I digress…

There is so much information swirling around about the workforce but unfortunately, we tend to focus on the specific information for our organization or our specific industry.  The numbers we think about is often turnover rate, number of vacancies and how many are on a leave of absence – but there is so much more to consider.  Over the last few years, the job market has seen some significant shifts. 

Leaders need to see this information as a sign of the environment that we are in and not just a problem for other companies.  Our current workforce (and particularly younger employees) is susceptible to “group think” so understanding the current landscape is important.  Here are 3 data points that you need to pay attention to:

  1. The Better Workplaces on a Budget Study published by the Society for Human Resource Management Research Institute says the top 5 reasons that employees are leaving their jobs is: Inadequate total compensation; Lack of career development and advancement; Lack of workplace flexibility; Unsustainable work expectations and Uncaring and uninspiring leaders.
  2. As it relates to job-related factors, the top reasons employees listed for leaving their jobs included: workload/stress; characteristics/type of work; availability of resources; training; and empowerment in their job (Work Institute Retention Report, 2022). 
  1. According to Gallup’s State of the Global Workplace 2023 Report, 23% of US employees are engaged; 59% are not engaged; and 18% are actively disengaged. 

When I pull these data points together I see that organizations need to attend to a few things:

  • The opportunities that are available to employees
  • The development that is provided to employees
  • The flexibility and options available to employees
  • The expectations that are placed on employees
  • The support that leaders are providing
  • The support that is provided to leaders
  • The overall effectiveness of leaders

The most important thing on this list is the overall effectiveness of leaders.  Without effective leaders, all other things on this list are temporary at best.  So, my question to you is – HOW EFFECTIVE IS YOUR LEADERSHIP TEAM AND WHAT PLANS ARE IN PLACE TO INCREASE THE EFFECTIVENESS OF THE LEADERSHIP TEAM?

There are many things that leaders are responsible for, and I have a tool to help you determine effectiveness on a list of core leadership competencies.  Access the Leadership Impact Competency Assessment here.

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