SAN JOSE, Calif., April 3, 2018 /PRNewswire/ -- RiseSmart, the leading provider of contemporary career transition services, has identified an employee relationship economy that's emerging in response to the evolving concepts of how work is done, by whom, for how long and who's in charge. RiseSmart's white paper, "The Employee Relationship Economy: Boomeranging and Frequent New Beginnings Propel a Shift in Human Capital Management," explores the forces behind changing employer-employee relationships. It identifies the impact on human capital management and provides actionable strategies for HR professionals who want to ensure they continue to attract and retain top-quality employees in the new era.
More than 63 million people changed or separated from their jobs in 2017, the highest annual turnover since 2001, according to the Bureau of Labor Statistics. In this new age where boomeranging and "new beginnings" are becoming commonplace, the Employee Relationship Economy white paper encourages organizations to reframe the employer-employee relationship to one that transcends the norms and boundaries of finite employment and focuses on long-term relationships based on trust and transparency.
"We see an employee relationship economy on the rise due to changes driven by technology, an evolving workforce, and globalization. These are all fueling a paradigm shift in how talent is moving into, within, and out of an organization," said Dan Davenport, president and general manager, RiseSmart. "As a result, business outcomes are increasingly dependent on a company's ability to achieve high levels of employee engagement, loyalty and trust."
One of the recommendations in the white paper is for HR professionals to think about workforce restructuring in a new way. Rather than treating workforce reductions as the end of an employee-employer relationship, the publication counsels HR to treat layoffs as a transition to a new phase for both parties, one in which a former employee could become a future contractor, customer, vendor's employee or even returning employee. To view the white paper in full, view The Employee Relationship Economy white paper here.
The report cites the continuing necessity for layoffs, despite strong overall economic performance, confirming that even in a strong economy, RIFs remain necessary. The statistics and trends cited in the report support RiseSmart's claim that change is the new reality, and reveal opportunities for HR leaders to help their organizations become an "employer of choice."
For more information about RiseSmart, visit www.risesmart.com.
RiseSmart, a Randstad company, is the leading provider of contemporary career transition services for organizations in more than 40 industries and 80 countries. The first outplacement and redeployment provider to recognize, and respond to, the Employee Relationship Economy, RiseSmart's "beginning to beginning" approach combines dedicated career coaching and personal branding with patented technology and tools to support transitioning employees. RiseSmart partners with HR teams and provides onsite support, specialized training and secure reporting in a results-oriented approach. Founded in 2007, RiseSmart delivers landing rates exceeding 80 percent and time-to-placement 60 percent faster than national averages. The company has earned awards and recognition from more than a dozen organizations, including Bersin by Deloitte, Gartner Inc., the Brandon Hall Group and Fortune magazine. For more information, visit http://www.risesmart.com/.