McKinsey&Company
Attract five types of workers
.
| • |
Second thoughts. In the US, roughly 20 million workers quit their jobs sometime between January and May 2022. Now, some of them are having second thoughts. About one in four workers are questioning their decision to quit, according to a survey of more than 15,000 people. Of those who started a new job after leaving their old one, 42% report that the new position isn’t what they were expecting. However, workers in some fields (such as healthcare) expressed much less regret. [Bloomberg] |
|
|
| • |
Counteroffer with caution. To keep star employees from leaving, it’s tempting for employers to dangle the prospect of better pay and promotions. Offering a generous raise makes sense when considering how much it costs to replace workers. But unless properly handled, making a counteroffer could backfire. A big pay bump might leave workers fuming about having been previously taken for granted. It may also make other workers think that they’ve paid a “loyalty tax” for being committed to the company. [FT] |
|
|
| • |
New trends. Competition for talent is still fierce. But new trends are making it even harder to woo workers, find McKinsey senior partners Aaron De Smet, Bill Schaninger, and colleagues. Many workers are not just leaving their old jobs behind; they’re also leaving their industries. Of the employees who quit in the past two years, just 35% took a job in the same field, while 65% either found a new line of work or left the workforce, reveals a new McKinsey survey. Employers are competing within their industry and across industries, too.
|
|
|
| • |
Five types of workers. Even though the employment picture is changing, companies keep using the same methods to attract and retain people—including pay and titles. These are important, particularly to traditional workers, but there aren’t enough “traditionalists” to fill all of the open jobs. Companies also need to
win back nontraditional workers. For instance, “idealists” tend to care much more about flexibility, career development, and meaningful work than they do about salary. See five types of workers and strategies to reach them.
|
|
|
| — Edited by Belinda Yu |
|
This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy.
|
|
You received this email because you subscribed to the On Point newsletter.
|
|
|
|
Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
|
|
|
|
