Credit: Studio Romantic/Adobe Stock
We're all experiencing it. Longer phone hold times with customer service support, less prompt service at restaurants, reduced flight options when booking a trip for Labor Day weekend, and longer wait times in doctors' offices. Some would consider COVID-19 to be a primary reason that businesses may be struggling. That may have been the case two years ago, but now there is a new obstacle that companies across the U.S. are dealing with. Employee retention rates are at an all-time low, and if things do not change, those rates will continue to decline. It's easy for business owners to blame COVID-19 for this issue, but the truth is that employee retention is down due to employers. Harvard Business Review states that, while the pandemic may have spurred the mass exit from the workforce, there were several underlying issues that played a role in this exodus.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
