Recent studies, like one done by Korn Ferry, found that over 90% of retailers are having trouble filling empty positions. That said, I’ve seen evidence that this problem is extending to many industries. With more places opening up since the global shut down brought on by COVID-19, many jobs have been made available and those seeking employment have more options than ever before.
Many business leaders have found through research that, while money matters, it doesn’t paint the full picture of why employees will choose on job over another. With so many options available, is it possible that variables like power distance, benefits, and how higher-ups treat subordinates make the biggest difference in keeping employees satisfied? What are you doing to cut down turnover rates and keep employees happy? And furthermore, what are the steps we can take to enhance productivity, innovation, and other growth metrics at the same time?