The Shrinking US Workforce and Your Business

November 16, 2021 |

It depends who you ask,  but the numbers don’t lie: the US is in a major labor shortage. Various reasons– including COVID-19 fears, an increase in savings, childcare issues, fewer visas and the rise in gig jobs– are often mentioned. Whatever the reasons, the impact on businesses large and small is catastrophic. For employers who cannot order up robots, what can be done?

Stating the obvious, hang on to the workforce you do have: these are the people who have continued to work during the shortage. The focus on hiring should not take away the needs of your current workforce. Some of our clients are offering tuition reimbursement plans and student loan assistance. A few have implemented retention bonus contracts to hang on to key employees. We recommend you keep an ear on your workforce–always–to learn what is important to your employees. Knowing your company’s culture has never been more important than now.

We can help. We have fixed fee packages for tuition reimbursement. We have surveys and training to  create a healthy workplace culture. With thousands of clients nationwide, we interact with a wide variety of workplaces every day. We are always learning and thinking about ways to help your workplace. Contact us.

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