Employee retention is rising as employers grow increasingly reluctant to lay off workers in a strong labor market.
We seem, at long last, to have recovered from the 2008 economic crash that pushed unemployment rates above Great Depression-era levels.
The U.S. Labor Department recently reported that unemployment claims hit a 43-year low.
It’s a job seeker’s market, and companies have to adapt quickly to keep the talent they have, not to mention work harder to recruit new talent at a time when applicants are spoiled for choice.
It’s the main reason that the tenor of the employee engagement conversation has evolved from emphasizing retention to emphasizing company culture.