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The Great Attrition or the Great Attraction: What will it be for you?

To gain a competitive edge in attracting and retaining talent, organizations need to truly understand what’s important to their employees today.

The COVID-19 pandemic has irrevocably changed what employees expect from work. Employers are struggling to understand why workers are resigning at an unprecedented pace and why many more are considering quitting soon, even without a job lined up. During a McKinsey Live webinar, experts Bonnie Dowling and Bill Schaninger discussed McKinsey’s recent research, which confirms that the Great Attrition is very real—and, unless leaders listen to their people and focus on what’s most important to them, could get much worse before it gets better.

Most of all, employees want their managers and organization to value them as whole people, not just workers. A strong company culture, a sense of community, caring coworkers, development opportunities, and clear career paths are also more important to the workforce than many employers realize. It’s time for organizations to go beyond a task orientation and focus on employee care, align benefits with current employee priorities, and help managers develop skills to lead and inspire. Investment in the human aspects of work is essential for employers who want to attract and retain the best talent.

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For more on this topic, please read the McKinsey Quarterly article “‘Great Attrition’ or ‘Great Attraction’? The choice is yours” and listen or subscribe to the podcast series McKinsey Talks Talent. To regularly see more on this and other related topics, follow McKinsey People & Organizational Performance on LinkedIn.

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