The phrase “Turnover Tsunami” is becoming slightly overused, but it is accurate - and there is no doubt it is happening.

I was speaking with a CEO yesterday about why he is experiencing such high staff turnover rates, even at senior level– and by that I mean voluntary departures and resignations.

But why?

Turnover is costly

Recruiting, hiring, and training is expensive -  not to mention the time spent behind each phase of onboarding. More than that though, companies are potentially losing a valuable resource - someone with years of institutional knowledge.

What can you do?

Embrace the idea that business strategy and workforce planning will look different post-pandemic and to get started on identifying the talent, skills and roles that will be necessary to prosper once the health crisis passes.

Lorri Lowe, Partner

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