For this week's discussion, I wanted to demonstrate an external problem impacting many different industries over just picking one company. Coming out of Covid-19, we have seen unprecedented staff turnover across many fields and industries. According to data from the U.S. Bureau of Labor Statistics, for the first quarters of 2022, we saw significant turnover in sectors such as leisure& hospitality, transportation, business services, education, health services, and manufacturing/construction. People are more aligned with their values than ever before. The pandemic and complete isolation brought are values and want to the forefront of our behavior and motivation. This has caused many people to look for new careers in areas that better interest them and their vision/values.

One strategy that I recommend for companies to address the external problem of increased turnover is implementing an open learning environment. This means creating opportunities for others to express their skill sets and bring improvements to the organization. According to our weekly resource in Eliminate strategic overload (Oberholzer-Gee, 2021), one approach to ensuring significant impact through initiatives was "Creates value for employees by making work more appealing." This approach focuses on bringing staff value through means that best fit their needs. Not all staff is motivated by monetary gains, but through improving skills and work processes for the better.

Reference:

U.S. Bureau of Labor Statistics. (2022, June 1). Table 4. quits levels and rates by industry and region, seasonally adjusted - 2022 M04 results. U.S. Bureau of Labor Statistics. Retrieved June 15, 2022, from https://www.bls.gov/news.release/jolts.t04.htm#jolts_table4.f.p

Oberholzer-Gee, F. (2021). Eliminate strategic overload. Harvard Business Review, 99(3), 88-97. http://hbr.org

Respond to your colleagues' posts in one or more of the following ways:

• Offer an insight you gained from the external problem of the company your colleague identified. Have you ever experienced a similar problem in the workplace?
• Ask a question about or provide an additional perspective regarding the strategy your colleague would recommend to the company to address the external problem.