Jun 11 (edited) in ✨ Insights
Why Workers Are Quitting
In 2023, 27% of U.S. workers quit their jobs, costing employers nearly a trillion dollars. Labor market experts predict a Great Resignation 2.0 in the near future, which will likely increase turnover rates even further. Major reasons for this include a lack of career development, work/life imbalance, and health or family issues.
Causes of High Turnover.
The primary drivers of high turnover are a lack of career opportunities, insufficient work/life balance, and unmet employee needs. The rise in employee expectations for personalized engagement and flexibility has also contributed to this trend. Experts emphasize that employees leave when critical needs aren't met and trust is broken.
Improving Retention.
To combat high turnover, companies need to offer clear career development paths, enhance flexibility in work arrangements, and personalize employee engagement strategies. Providing opportunities for both professional growth and personal interests can significantly improve retention rates. Organizations should support managers in understanding and addressing individual employee needs, fostering a culture of empathy, and aligning personal goals with company objectives.
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Why Workers Are Quitting
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