Promote Your Employees Now to Retain Them During a Competitive Job Market

For a moment, let’s flash back to 2020: a year when disruptions triggered by the Covid-19 pandemic forced many firms to freeze hiring or lay off workers, creating a labor market in which those looking for work far outstripped open positions. One year later, as the pandemic eased and the economy reopened, firms found themselves in the opposite situation, struggling to fill an excess of open roles. This economic shift helped catapult the Great Resignation, a period lasting from 2021 to 2023 when well over 100 million U.S. workers, finding the market in their favor, quit their jobs, often in pursuit of higher salaries or better benefits.