Alternative solutions to finding and keeping people
I have a friend who owns a business who has the same complaint as everyone else. He cannot find and keep people. His business involves providing a multitude of services to his clients. A major part of his problem is no one person can possibly know how to provide all of the services.
Your greatest source of untapped productivity
According to research from Dr. Joe Rubino, it is estimated that 85 percent of Americans suffer from low self-esteem. People who struggle with feelings of a lack of self-worth can successfully learn self-confidence.(1)
Why the cost of your employee turnover will continue to rise
“Workers in private industry see fastest pay increases in 20 years”(1).
“Pay in the leisure and hospitality sector grew by 23.7% annually in the six months from January to July 2021”(2).
How to fix both your labor shortage and employee turnover
As the above US Chamber of Commerce chart demonstrates there are a large number of open positions across industries. At the same time, the industry unemployment rates are at 2-3% except for Hospitality which is at 5%.(1) The Workforce Participation Rate peaked in 2000 at 67.3%. In November 2022 it had fallen to 62.1%.
Why you are not getting the candidates you need
As you can imagine I have been very busy with the issues of employee turnover, chronically open positions and skills gap over the last few months. Everyone wants to talk about it, assess their issues and work on fixing it. During this time, it has been proven again the very first root cause which needs a solution is recruiting sources.