No matter where you get your news, it’s obvious that we’re in the throes of a leadership crisis -- or three or five. President Trump’s head-scratching “surrender summit” in Helsinki with Russian President Vladimir Putin sent shockwaves across the globe. Meanwhile, British Prime Minister Theresa May faced her biggest political setback as David Davis, the key Brexit negotiator, abruptly resigned because he could no longer, in good faith, go along with the exit strategy. And of course, Uber[...]
If we look back at the Bureau of Labor Statistics’ (BLS) jobs report for the summer, the figures tell a more nuanced tale than stasis or small improvements. The good news is that businesses hired 5.1 million professionals. The bad news is that all industries, in aggregate, witnessed labor turnover rates to the tune of 4.9 million workers. The 0.2 percent difference would indicate that just as many people left their positions as came aboard. Other sources, such as Compensation Force, depict employee attrition rates close to 17 percent, based on a survey of 28,000 companies. That’s the highest level of churn since 2008, the dawn of the recession. What happens when turnover spikes? Organizations scramble to backfill positions, oftentimes creating opportunities for contingent staffing providers. However, backfilling is usually a short-term fix for what can be a longer-term issue. Instead of backfilling, let’s see how progressive filling can innovate a fresh approach to a stale situation.