The unemployment rate stands at a 16-year low, but turnover for jobs has been higher than ever. Marcus Buckingham is the co-head of ADP Research Institute and provides insight on how companies need to improve to foster happiness and retain talent.
Buckingham stresses the importance of encouraging employees individuality. Rather than asking workers to fit into the mold, employers should find, highlight, and encourage the strengths of each person.
Producing and fostering strong managers is also key. One of the top reasons why people leave jobs is because of a negative relationship with their manager. Having strong leaders who know how to communicate with their staff and encourage them is great to keep talent from walking out the doors.
And when it comes to benefits, the more the better. Employers often stay if the benefits are strong.
With the Fed likely set to leave rates unchanged, lower and middle income Americans will continue dealing with higher credit card interest and expenses.
Markets soared in May after Nvidia’s Q1 success, but concerns over slowing consumer spending, especially among middle—and lower-income groups, loom large.
