Pay Attention to Retention

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The Bureau of Labor Statistics (‘BLS’) has reported the ‘quits rate’ (defined as voluntary terminations as a percentage of the workforce) for the last 21 years. Today, people are quitting work like they have never quit before. Nearly four million Americans a month, for each of the last four months.

Source: BLS

 

Astonishingly, a recent survey found that 40% those recently leaving their jobs do so without having their next job lined up. BLS also reports that job openings rose to an unprecedented high, nearly 11 million, in July. The quits rate indicates significant dissatisfaction with the companies

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