The final quarter of the year is here and we’re taking a look at some of the most talked about trends and insights from today’s ever-evolving workplace. And, because it’s October, we’re highlighting some of the spookier themes haunting today’s workforce.
From quiet quitting to overly compensated new hires, here’s what to expect this fall.
Leaders are scared of quiet quitting
Sure, it’s a spooky time of year. And if there’s one thing employers fear most about the workforce, it’s disengagement. Leaders are worried about quiet quitters. According to Chief Workplace Psychologist Ben Granger at survey firm Qualtrics, executives at well-known companies in finance, tech, and health care are very concerned about team members failing to show up. And the numbers speak for themselves. An August poll from the Society for Human Resource Management found that more than half of HR professionals across industries were concerned about quiet quitting. Gallup estimates that 50 percent of the U.S. workforce can be considered quiet quitters.
Our take? Communicate. Leaders should encourage more 1:1 check-ins with direct reports where applicable and keep the lines of communication open. Quiet quitting works both ways.
The price of overpaying for new hires
It’s a challenging time for hiring. With inflation, recession fears, and a reshuffling of the workforce, employers are struggling to attract and retain their top performers. But experts say that overpaying for new hires may backfire. “Employees today are very open about discussing their salaries, so any hopes of keeping your new offer confidential from your current staff are unrealistic,” Anjela Mangrum, President of Mangrum Career Solutions, told women’s private network group Chief. “When your existing workforce comes to know about newbies making almost as much as them after their years-long tenure at your firm, they’ll start reassessing the value of their seniority and skills.”
Our take? Keep company-wide salaries in line with up-to-date fair market compensation data.
Quick quitting is in
Move over quiet quitters. Those who are more serious about leaving their jobs altogether are becoming the newest workforce trend. And those looking to quit are doing so quicker than ever. According to LinkedIn’s Workforce Report, people are staying in their roles for shorter periods of time. ‘Quick quitting,’ as the professional networking platform calls it, has increased most in the arts and recreation industry, followed by tech and media, and administrative and support services.
Our take? Invest in employee engagement resources. Take a survey to get a temperature check of the organization and discover ways to improve employee retention.