Insight scoop

26% of your people are thinking of quitting their job in 2023

Words from Irene

There’s usually one in every startup crowd. That person who stands out by not being satisfied with doing the bare minimum. Leaders who make bold moves early, even during downturns. Sure, we’re all experiencing supply chain issues, volatile stock markets, strategic layoffs, and hiring slowdowns. But did you know that right now 26% of your current employees are open for a new job? Ouch! So how will you deal with attracting and retaining talent in these unpredictable times?

The safe answer: act lean and adaptive

It’s worth taking a step back. The downturn will have different outcomes across sectors in terms of duration and intensity. But, acquiring new talent is costly. Some say it’s even 6 times the cost of keeping talent you already have. Whatever you believe about the cost of churn, you don’t want to lose those who you need most, especially now. So think beyond meetings and have open, transparent conversations with your top-performers. Build a brand they are proud to be part of. Can you slow down new hires? Yes, but it’s good to keep your skin in the game to replace critical roles and be ready when the time comes to start scaling again.

1. Improve your employer story and core message
2. Prioritize career site improvements
3. Build your recruitment dashboards
4. Create engaging content
5. Experiment with new tactics
6. Run small low budget campaigns

The brave answer: make strong moves early

A leadership role can be over-consuming, lonely, and stressful. Ask a random scaling veteran or CEO what the key to their success is and you’ll most likely get an answer that echoes Steve Jobs's quest to always hire the right people for the right job. In almost every organization, success depends on a small core of people who deliver outsize value. Sure, you can lean back like your competitors but this could also be your moment to do something great. This might be that once in a decade moment to add extraordinary talent to your team. Talent you’ve always dreamed of.

1. Reinvent recruitment: make talent as important as strategy and finance
2. Reframe what winning means and identify positions that add value
3. Use your team to methodically identify your top- and under performers
4. Act with confidence and quickly let go of lesser performers
5. Hyper-target your dream candidates
6. Increase your visibility as an employer

Ready to talk about how your employer brand can work for your business? Even during downturns? Let’s talk.

Yes, let's talk

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