Consider the following:
- Unemployment in the United States is at an 18-year low while the employee turnover rate has reached 60%.
- 75% of millennials think job-hopping is good for their careers.
These days, customers are not as loyal and are constantly on the lookout for high quality, punctual, low cost products and services.
An inability to deploy the best assets—especially employees—to meet customer expectations can negatively affect a company’s earnings and ability to remain competitive.
High employee turnover and job vacancies are recipes for failure.
With a multi-generational workforce and an emphasis on attracting, retaining, and motivating the best employees—a total compensation approach to today’s workforce is crucial for ongoing success. A one-size-fits-all approach will no longer suffice.