If there’s one thing that we can learn from Winter Storm Jonas, it’s that even a well-forecasted storm can wreak havoc if you are not prepared. This reminded me of another storm that is expected to hit corporate America this year, which I have appropriately named the “Attrition Blizzard of 2016.”
According to a recent study from CareerBuilder.com, 21 percent of employees have resolved to leave their current employers in 2016. That is in addition to the roughly 10,000 baby boomers that will retire each day during the coming year. Oh, and if you haven’t heard – the war for talent is still on.
When the Attrition Blizzard hits – and it will – you can expect:
- To be buried in extra work due to employee shortages
- Missed deadlines and deliverables, which could mean fines for some industries
- Loss of revenue and unhappy clients
- Employee morale turning icy cold, which creates more attrition
Ensuring that it does not leave your company or team figuratively snowed in will require advanced planning and preparation. Below are three ways your team can prepare for an attrition blizzard:
1. Have a succession plan in place.
By establishing a succession plan to advance your top-performing employees, organizations will be better able to weather unexpected losses. Developing and investing in high-potential employees will also serve to boost morale.
2. Focus on retention.
One way to prevent the attrition blizzard from occurring altogether is to focus on retaining your most valuable employees. If this is not a topic at your leadership meetings already, it should be added to the top of the list.
3. Use a specialized recruiter.
Even when you can control the staffing climate, job openings will happen due to promotions creating vacancies and new roles needing to be filled. Cultivating a relationship with a specialized recruiting firm is the best way to prepare to fill these positions when the need arises.
Don’t get buried in the extra work, missed deadlines and loss of revenue that comes with high employee turnover.
Whether you are searching for high-level executives, temporarily filling vacant positions or building out marketing communications departments, Cody Consulting can provide Executive Search services for your health plans’ staffing needs. Contact us today and work with the best in the business.