Millennials have 3 times the turnover rate of older generations. That presents a huge challenge, and cost, for companies trying to retain young talent. Fortunately, our research into the Best Workplaces for Millennials shows there's a solution - a high-trust culture. Millennials with a great place to work were 20 times more likely to plan to stay at their current job.
In a recent report by Universum, a tactical view of how organizations are attracting talent and combating problems is given with some fresh insight. The report: State of Employer Branding is part one a four-part 2020 Outlook series, based on responses from 2338 interviews conducted in the winter of 2014 in 18 different countries. Respondents represented a variety of industries and job functions with more than 50% working within HR, 16% being the CEO of their respective organization, and 23% working for organizations with more than 1000 employees in the country. Universum’s report starts by posing a necessarily blunt question to its readers, “How long have executives argued over the need to make talent attraction a corporate strategy rather than an HR strategy?” Point taken, talent acquisition remains an ongoing point of struggle for organizations, but is a critical strategy for organizations to remain competitive.