The recent spate of layoffs may be confusing organizations about the importance of talent retention, inadvertently signaling that people’s fear of losing their jobs is somehow a retention strategy. Unemployment is still at one of the lowest points in recent history, and employee expectations of work aren’t softening either. In times of economic uncertainty, talent retention shouldn’t move to the luxury category of organizational priorities. This is the time to ensure employees feel confident in your organization’s future and ability to weather the uncertainty. Otherwise, when things turn around, you can be sure your best talent will quit and leave, and your mediocre talent will quit and stay.
How Midsize Companies Can Use Uncertainty to Their Advantage
Protect your culture — and your talent.
May 08, 2023
Summary.
Volatile times can batter midsize companies in ways larger companies can more readily withstand. But there are ways those smaller companies can leverage their size to take advantage of tough times. Those that do are far more likely to come out on the other side of uncertainty not only stronger, but ready to grow when the headwinds become tailwinds. If you’re helping guide a midsize company through turbulence and change and worry that your key talent or your culture may be at risk, here are some ways you can leverage your size — and the uncertainty — to navigate both.
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Change may be the only constant in today's organizations. Here's how to lead through it.
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New!
HBR Learning
Change Management Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Change Management. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Change may be the only constant in today's organizations. Here's how to lead through it.