In an unusual moment, workers are holding onto their jobs and companies are keeping their workers, resulting in historically low turnover rates even with a low unemployment rate.
The lack of churn in the labor market is attributed to various uncertainties impacting the economy, such as interest rates, elections, conflicts, and market corrections, leading to businesses holding onto their workforce.
Despite economic uncertainty, the best strategy for business leaders is to adapt to the current labor market situation by viewing new hires and existing workers as partners.
Amid unpredictability, business leaders need to recalibrate their HR strategies and embrace the new normal in the labor market by acknowledging the stability and making suitable adjustments.
[
add
]
[
|
|
...
]