Learning. Empathy. Advancement. Purpose (LEAP). The key to retaining employees, especially in times of low unemployment, lies in building a company culture based on these four words. Low unemployment means that employees are in the driver's seat, choosing the jobs they want and jumping ship for better opportunities when they come along. Job openings are plentiful and employees have a lot of choice in front of them.
It's a great situation for employees, but what does it mean for businesses? Retaining your top talent has become more difficult and more important than ever. Filling a vacant role by an employee who jumps ship can cost up to 150x that employee' annual salary to find, onboard, and get new talent up to speed.
To hold onto your employees, your business needs to LEAP. Take a look at our infographic to get a breakdown on how to get started.
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AI as universal as electricity
Marc Ramos, Chief Learning Officer at Cornerstone, believes AI will become as universal and ubiquitous as electricity. We’re right at the beginning, and there is a lot of hype, fear and anxiety, so governments and other entities are putting controls in place. But there are also tremendous values with AI, not least from a talent, HR and learning perspective. Here are some areas where Marc already sees advancements in AI.
Time to make wise choices on technology
There is a lot of new and fascinating technology coming out on the market. For many organisations in manufacturing, health sciences and retail, it’s time to make some wise and interesting choices. When it comes to talent, learning and HR, you need to consider if these latest and greatest technologies will enable you to:
ESG: Simply the right thing to do
Global companies are very keen to get as high ESG ratings as possible (Environmental, Social and Corporate Governance) because it affects shareholder value. But Marc Ramos, Chief Learning Officer at Cornerstone, points out that ESG is really significant for HR and learning, not necessarily from a metrics and compliance perspective, but from a cultural one. He says ESG is important because it simply is the right thing to do. It shows that the organisation is honest about and believes in taking care of employees, the earth and the future. This is attractive to external talent and helps to retain staff, regardless of which sector, market or size of business you’re in.