In today’s job market, retention is no longer the huge challenge it once was — nor is it a great leadership feat. With layoffs and reduced opportunities making headlines daily, fewer people are opting to leave the “security” of their current employment. In fact, I’m hearing from leaders and employees alike that an increasing number are responding to uncertain conditions by clinging tightly to what they have (even if they’re not particularly satisfied or engaged) — a phenomenon called “job-hugging."
Some leaders may be tempted to view this as a victory for management — a return to greater power over the labor force. And yet, they forget that the pendulum routinely swings back and forth, and it’s likely just a matter of time before employees again have an advantage in the employment marketplace.
That’s why highly effective leaders are viewing today’s employment environment as an inflection point. While they may no longer need to resort to extraordinary measures to retain staff, they recognize that the current climate presents an opportunity to evolve their leadership. They see a workforce that’s frightened, insecure and burnt out — and appreciate how deeply destructive this is, from both a human and organizational perspective. And in response, they’re turning to a regenerative approach to leading — one that helps people and businesses not just survive but thrive despite the challenges.
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