In today’s shifting environment -- a year and a half into the global pandemic with near constant uncertainty for business leaders and employees alike – CIOs and other C-suite leaders are navigating a complex workforce landscape. Work and personal lives are intertwined, personal priorities and views on work have changed, and the hybrid model of work is yet another transition for everyone.
Record numbers of workers are leaving their current jobs in 2021. Is it a temporary shift or something bigger? This is what 270 CIOs are saying about the “Great Resignation” and how it is impacting their outlook for 2022 and beyond.
The Impact of Attrition
When asked if they are experiencing greater than normal attrition at their organization this year, 87% said yes or about the same as in years past.
For the 13% of executives who said that they are not experiencing higher rates of attrition, here were some of their responses as to why:
Company culture, communication and transparency.”
Business is good, and we are allowing flexible work environments.”
Overall work situation, benefits/compensation levels, and close working relationship between management and employees.”
Maniacal focus on the things contributing to resignations: remote work, employee engagement and experience, and burnout.”
Why Employees Are Leaving
When asked what they think is causing employee turnover, 66% of CIOs believe it is the fallout from the pandemic.
Relative Importance of Retention
When asked how much of a priority employee attrition is for CIOs right now, 73% responded that it’s a 4 or 5 on a scale of 1 to 5, with 5 being their top priority.
Employee Retention Tactics
75% of CIO respondents said that they are offering more flexibility to try to engage and retain employees right now with improving company culture (64%) and reviewing compensation (64%) tied for second.
Recruiting New Employees
The top response was the same when asked about specific ways they are trying to attract new employees with offering remote/flexible working arrangements as the most common strategy (73%), followed by promoting culture and engagement (69%) and offering competitive compensation (56%).
A Trend or an Ongoing Challenge?
The highest number of CIOs indicate that they think the “Great Resignation” will last for the next 6 to 12 months (34%), followed by 12 months or more (29%). Only a small percentage (5%) believe that it’s a near-term phenomenon, lasting 0-6 months from now.
Planning for 2022
How are CIOs managing and planning for 2022 in this current environment? Here is a sample of what they are saying:
Active, continuous recruiting.”
Expanding allocations for potential turnover.”
Increase in People spend: training, sign-on bonuses, development support.”
Location diversification: Adding another low- to medium-cost location to offset risk.”
Looking to update job descriptions, increase compensation, and provide flexible work arrangements.”
Developing a hybrid work model. Creating better ways of prioritising. Acknowledging issues of workload.”
If you are an IT leader trying to navigate employee engagement and retention, explore an opportunity to collaborate with your peers or join a community at Evanta.com.
Based on 270 CIO responses to Evanta’s Community Pulse Survey, October 2021.
by CIOs, for CIOs
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