Good morning,
The number of people quitting their jobs has surged to record highs. According to data released from the Labor Department on Tuesday, over 4 million people, or roughly 2.9 percent of the population in the U.S. quit their jobs in August. The hardest hit industries include hospitality and retail, where employees are leaving because of long hours and a lack of flexible work options. The Labor Department data shows that about 892,000 workers in restaurants, bars, and hotels quit in August, as well as 721,000 workers in retail. There’s also a monetary component to this so-called “Great Resignation.” Employees are less willing to endure inconvenient hours for less than optimal compensation than before the pandemic.
This means that if you want to keep your best employees around, expect to shell out in terms of pay and benefits or workers may start to look elsewhere. However, if extra cash isn’t an option, you do have other ways you can encourage employees to stay. Read more Inc. coverage on the Great Resignation and how to keep your employees from jumping ship: |
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