The quit rate of U.S. employees is at a record-breaking pace. In June 2021 alone, nearly 1 million workers left their jobs. This couldn’t come at a worse time with job openings reaching record highs and labor participation rates falling to WWII levels. Employee Turnover expert Dick Finnegan sums up this new work reality in two words: doom loop. The HR doom loop occurs when new employees don’t show up, ghost the employer, or quickly quit restarting the repeating churn of recruit, hire, quit, recruit, hire, quit. Finnegan has a solution that helps companies increase retention and cut turnover by 30 percent.
On this week’s Geeks Geezers Googlization. Finnegan reveals his “secret employee retention sauce” and shares the 5 questions he asks every employee. Finnegan is the author of SHRM’s best-selling book, “The Power of Stay Interviews” and will be a speaker at the 2021 SHRM Annual Conference.