Description
While most companies have a healthy top-of-the-line post-pandemic, their growth is severely limited by the ability to retain talent. And, without the ability to grow the workforce, added pressures are placed on existing employees, exacerbating mental health challenges and the retention problem.
Employee Turnover is an expensive problem. It limits growth opportunities, causes stress, morale problems, customer dissatisfaction, lawsuits, and brand damage.
Compensation challenges, the demand for job flexibility, an unwillingness to “come to work”, cost of living, and other factors are driving the turnover.
In order to fight against this challenge, employers need to better understand the costs and opportunities related to turnover, have and share their compensation philosophy, consider new ways to engage employees, and more.