Talent War Part 2: Five Tips To Retain Great Employees
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Workers are quitting their jobs in droves across America.

In April alone, a record four-million people resigned. The average time younger workers are expected to stay in their current job is just over two years. And a McKinsey study showed only 7 percent of companies believe they can keep highly talented people.

While there are many reasons for the resignations, which we illustrated in the part 1 of our series on filling the skilled labor gap, in this article, we provide five tips to help you keep and develop your talent.

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Talent War Part 1: The Skilled Labour Gap
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More than nine million jobs are open and waiting to be filled in the United States right now. Even more eye opening is that the number of job postings has skyrocketed over 40% since February, according to government statistics.

Why are companies finding it so challenging to fill roles with talented people? Simply put, we are experiencing a skilled labour gap.

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Why It All Comes Back To Company Culture
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Recruiters are working over-time to meet the demands of companies that cut back during the global outbreak, and which now are overly reliant on too few steady performers who have been pushed very hard for too long.

As the global economy ramps up, professionals across a wide swath of industry spaces and management job functions are finding once again that they have good options to consider a career move, and more of them are again exploring what’s possible with other employers.

Yet companies planning on the same approach to employee retention may find themselves on the wrong side of the talent market pendulum shift.

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IMD World Talent Ranking 2020
imd.org

The IMD World Talent Ranking captures the capacity of an economy to develop as well as attract talent to strengthen its competitiveness. Countries are scored across three factors of Investment & Development, Readiness and Appeal.

"The latest ranking suggests that most economies that perform well focus their talent development efforts in every stage of the educational process. From primary education to tertiary, to apprenticeships and continuous work training, enhancing the skills and competencies of the work force is important. The top performing economies are open to both people and ideas. Finally, in the difficult times of social distancing and working from home, keeping the employees motivated contributes to the talent competitiveness of an economy."

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