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According to the latest Gallup State of the Workplace report, employees are seeking new jobs at the?highest level?since 2015. This trend has been coined “The Great Detachment.”
A key reason for this is increasing employee dissatisfaction with management. For instance, Gallup’s research shows that those who work in companies with?bad management practices?are nearly 60% more likely to be stressed, and stress is the second most-cited factor influencing employees’ decisions to quit.
People’s values have also changed post-COVID-19. Employees prioritize well-being. They expect their contribution to be recognized, and if they aren’t valued or supported, they aren’t prepared to tolerate it.
The rise of Gen Z in the workplace also needs to be considered. They now make up 27% of the workforce across the 38 high-income countries that make up the OECD. This generation wants to be coached, not directed, and if they don’t feel that they’re progressing or that their employer wants to cultivate them, they’ll simply leave.
Yet, management practice has remained unchanged, with managers still using outdated and clunky methods unsuited to today’s workplace. Managers are ill-equipped to give feedback and handle challenging conversations in this rapidly changing work environment and consequently default to directing employees rather than enabling them.
Companies need to upskill their middle managers urgently to keep employees engaged and stop hemorrhaging talent. After all, talent is critical for success—companies in the top quartile of employee engagement achieve?23% higher profitability?than those in the bottom quartile.
If you’re losing your top talent to your competitors and suspect poor management may be a cause, here are three things to do: (more…)