Companies Are Bleeding Leadership Talent As Turnover Rate Increases
[Portions of the following blog originally appeared as a post on Forbes.com that Edward Segal wrote as a Leadership Strategy contributor. His other posts on Forbes.com can be read at https://www.forbes.com/sites/edwardsegal/2021/08/24/meet-americas-best-employers-by-state-2021/?sh=58b5067f4974]
Companies are bleeding leadership talent, according to the results of a new study. HR respondents in a DDI survey conducted in September 2021 reported the turnover rate of corporate leaders had increased to an average of 18%, up from 14% in the midst of the Covid pandemic.
“That puts HR in a predicament,” according to DDI, a leadership consulting firm. “Just how badly do they need to retain existing leadership talent? Or can they depend on hiring from the exodus of leaders from other companies?”
DDI’s HR Leadership Insights Report is part of the Global Leadership Forecast series. The study examined how the changing landscape of the past year is shaping critical HR leadership challenges for 2022 and beyond. It included data from more than 15,000 leaders and 2,100 human resource professionals that was collected in 2020, and a survey of a subset of HR respondents conducted in September 2021.