What if I told you that your voluntary turnover was going to increase by 4% to 5% in the coming year. Are you ready for that kind of turnover? What is causing that kind of increase? How many open positions do you have today? Today we explore the culture of quitting.
Today in health, it preparing for a culture of quitting. My name is bill Russell. I'm a former CIO for a 16 hospital system and creator of this week health, a set of channels dedicated to keeping health it staff, current and engaged. We want to thank our show sponsors who are investing in developing the next generation of health.
Gordian dynamics, Quill health towel, site nuance, Canon medical, and current health. Check them out at this week. health.com/today. All right today found an interesting article and this one really struck me. It's one of those things that I keep reading about the changes in the workforce and the changes in how we manage that work.
And this article comes to us from Beckers Beckers, picked it up from a Gartner news release and it is companies should brace for a culture of quitting. Let me give you some of the excerpts organizations should prepare themselves for a continuation of quit. As a new culture of quitting becomes the norm.
As the annual quit rate stands to job nearly 20% from into a pre pandemic levels. According to Gardner the pre pandemic average for quits stood at 31.9 million, but the figure could rise to 37.4 million this year. I said executive consultancy Gartner and an April 28th news release as individual organizations with a turnover rate of 20% before the pandemic could face a turnover rate as high as 24% in 2022 and the years to come Pierce Hudson.
Senior director in the Gardner HR practice said in the news release, for example, a workforce of 25,000 employees would need to prepare for an additional 1000 voluntary departures. The reason for the likely increase in quits is new flexibility and work arrangements and employees higher expectations.
According to Gardner, a misalignment between leaders and workers is also contributing to the attrition. Organizations must look forward, not backward and design a post pandemic employee experience that meets employees changing expectations and leverages the advantages of hybrid work said, Mr. Hudson. All right.
So that's the story for today, as you know, I like to end these stories with us. So what, why does this matter and how am I thinking about this? And what's its impact to you. Clearly, the workforce has changed. The expectations of that workforce has changed. I talked to a recruiter recently at an event and I was saying, Hey, how how's it going?
How, how, how are you seeing. The positions get filled and what's going on. And one of the things the recruiter wanted to make me aware of is the fact that one of the biggest things that's changing is the expectations of the people who are looking for the jobs they are literally coming in and making demands.
They're saying, Hey, if you're going to put me up for that position, I want it to pay X amount and I want it to be fully remote, or I want it to be. X Y or Z. So expectations have changed and that's true across the board. If you have any employees, any direct reports, their expectations are changing. They're changing as a result of just conversations.
They're having with their peers at conferences, , on phone calls with vendors, they're hearing how other organizations are operating and their. Making a determination of is that the type of environment I want. The other thing to keep in mind is we have an extremely low unemployment rate. And that means that people are in high demand to puts the employees in the driver's seat so they can demand different work environments.
They can demand, , different compensation levels. And we're seeing that play out right now. We have wage inflation going on amongst other things, but with that being said,
when I think about this, I have identified in myself a problem that if I were still managing and large workforce today, I would have to adjust my thinking. My thinking used to be one in which I'd like to see people I'd like to interact with people. I like to talk to them on an ongoing basis. It's not that that's bad.
It's just that that's not the norm anymore.
We have to look at different work environments and determine what it's going to look like moving forward. This is what he means when he says stop looking backward and start looking forward. What does the new environment look like? I was talking to him employee recent. And they have a fully remote work environment.
And one of the things they do, because most of these people I've never met each other is they have a standing. Zoom or lunch, whatever tool they happened to use from 12 o'clock to one let's just say, and everybody's invited to come to that lunch, have lunch on the zoom call, meet some of your peers have conversations.
It's the equivalent of going out to lunch with people. It's that kind of creativity that's going to be. As we move forward to bring people together, to create culture,
To identify ways to build a cohesive team. And in doing that, create an environment where people like to be a part of it. People appreciate the work environment. They like the benefits that come along with it, but you're also getting the highest productivity out of the team that you possibly can.
, my silhouette for this, for me personally, would be, I would have to rethink my approach to managing people. I would have to rethink my approach to building culture, my approach to managing projects, , as. Everything has changed as a result of the pandemic
and everything has changed as a result of the current labor market. So we must change along with it. And that is really all I have for today. If you know someone that might benefit from our channel, please forward them. They can subscribe on our website this week, health.com or wherever you listen to podcasts, apple, Google, overcast, Spotify, Stitcher, you get the picture.
We are everywhere. We want to thank our channel sponsors who are investing in our mission to develop the next generation of health leaders, Gordian dynamics, Quill health Taos site nuance, Canon medical, and 📍 current health. Check them out at this week. health.com/today. Thanks for listening. That's all for now.