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Turning the Tide on Employee Turnover

A Report by CYS Global Remit Human Resource Management Team 



In recent years, the workforce has witnessed significant shifts, with each year earning its own moniker.  2021 was dubbed the year of the Great Resignation, followed by 2022's Great Reshuffle, and 2023's Great Reset.  However, the catchphrase for 2024 remains 

undetermined, heavily influenced by the still-unclear economic landscape shaping prevailing workforce trends.  


A survey by iCIMS reveals a notable trend: workers are increasingly prioritizing work-life balance, leading to potential discrepancies in expected pay raises and promotions.  Rather than seeking opportunities elsewhere, candidates are encouraged to explore avenues for growth within their current workplaces.  This emphasizes the potential for employers to bolster internal mobility by investing more in development opportunities.  Internal mobility encompasses various avenues such as promotions, demotions, mentorships, cross-team projects, and job swaps, facilitating career growth within the organization.  


At CYS Global Remit, we align with this philosophy by offering our staff opportunities to explore new career paths and development avenues within our organization.  Encouraging internal mobility not only saves time and resources typically spent on external hires but also improves retention rates and fosters greater diversity and innovation within our company.  Our CYS Human Resources Management Team plays a pivotal role in facilitating internal mobility by understanding employee competencies, aligning them with business needs, and establishing robust processes to connect employees with internal prospects.  


Embracing internal mobility enhances workplace confidence, assuring employees of continued opportunities for growth despite recent layoffs in the job market.  Now more than ever, HR and business leaders must remain attuned to market data and workforce trends, adapting strategies accordingly for sustained success.  



 

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