The country experienced a robust hiring gain in November, creating a half-century unemployment low of 3.5%. About 266,000 jobs were created last month, the most since January, and companies are getting creative with incentives to increase retention.
Beth Thress, vice president of human resources at Maple Knoll Communities, which owns two senior-living centers, had a hard time keeping employees once retailers increased their pay. She went to the board and secured a pay increase — $15 an hour, up from $12-$13 — along with providing more flexible schedules and an emergency fund to help employees with temporary problems such as housing or car maintenance.
These efforts reduced turnover from about 40% in 2017 to just 8% so far this year. To read more, click here.