4.6, 4.5, 4.3, 4.2, 4.1. These may look like judges’ scores in an athletic competition, but these figures actually represent a sampling of recent US unemployment percentages, which have been steadily declining for some time. The most recent unemployment rate of 4.1% is the lowest in 17 years. While this is encouraging for job seekers, it is worrisome for employers seeking to attract and retain strong sales talent to hit their revenue targets.
Headlines like these…
“Employer’s Hustle to Retain Job-Hopping Workers”
“Companies Seeing a Significant Increase in Employee Turnover Rates”
“US Workforce Expected to Experience Massive Shift” (thousands of baby boomers retiring daily)
… are forcing employers to re-think their attraction and retention strategies.
For those wanting to attract employees with bachelor’s degrees or Millennials, the situation is even worse, with unemployment for college grads only at 2.0% as of October 2017, and Millennials (and now Generation Z) coming into the labor market with very different expectations regarding their jobs and careers than previous generations.