HR Study Reveals Critical Gap Between Retention Priorities and Execution
TL;DR
Leaders can gain an advantage by leveraging AI to identify skill gaps and recommend personalized learning paths for employee retention.
The study from HR Research Institute reveals the critical disconnect between retention priorities and execution, and the factors undermining retention efforts in organizations.
Improving career paths, management training, and technology, as well as enhancing the employee experience, will make the world a better place by boosting long-term retention and improving work culture.
AI's potential in improving retention rates and the need for stronger leadership development are interesting and promising insights from the study.
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The HR Research Institute's new study reveals a critical disconnect between retention priorities and execution, with 56% of top leadership identifying employee retention as a top-three priority but only 23% of organizations rating their retention strategies as advanced. This significant gap between intention and action underscores systemic challenges in workforce management that could impact organizational stability and competitiveness.
According to the findings, lack of well-defined career paths (60%), work overload (56%), and lack of skilled managers (51%) are the primary factors undermining retention efforts. A substantial portion of turnover is driven by HR-related issues, including inadequate manager training (64%) and poor employee experience (50%), pointing to the need for stronger leadership development and more employee-centered work cultures.
The study identifies artificial intelligence as a promising solution for improving retention rates, with AI's ability to quickly identify skill gaps and recommend personalized learning paths showing particular potential. Forty-nine percent of organizations see value in using AI for identifying skills gaps and recommending targeted training, while 40% recognize its potential for personalizing and enhancing learning and development programs.
Debbie McGrath, Chief Instigator and CEO of HR.com, stated that these findings serve as a wake-up call for leaders, emphasizing that companies must focus on developing career paths, improving management training and technology, and enhancing employee experience as competition for top talent intensifies. The full research report, available at https://hr.com/hrresearchinstitute, provides detailed insights into retention challenges and recommendations for business leaders seeking to improve outcomes.
The recording of the research webcast presentation on reducing turnover costs is available for on-demand viewing, offering additional insights for organizations looking to address retention challenges. The study's comprehensive approach to analyzing retention issues provides valuable data for HR professionals and organizational leaders navigating the increasingly competitive talent landscape.
Curated from Newsworthy.ai
