As Q1 closes out, the Labor Market is showing signs of cooling, with hiring slowing and the smallest monthly employment increase in more than two years. Worker availability improved slightly; however, the market is still tight and finding workers with desired skills and experience remains challenging. Average hourly earnings moderate to 4.2% in March from 4.6% in February without an uptick in the unemployment rate, reflecting a strong but cooling market.
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To find out where the labor market was heading this year, Engage2Excel’s president of recruitment solutions decided to ask ChatGPT what Artificial Intelligence (AI) thinks and here’s what it provided, which Darren thought was the understatement of the year:
Early attrition has become a problem that many organizations struggle to address. Record low unemployment, changes in work attitudes and expectations, and the high cost of replacing people who quit have made retention strategy a high priority for HR leaders. Our latest eBook, Improving Retention Rates for New Hires, offers research on early attrition trends, causes and impacts—along with eight steps your organization can take to build an early retention program.
In the post-pandemic work environment, manager disengagement has become a growing problem that impacts companies of every size in every industry. It can harm employee engagement, voluntary turnover, team cohesion and performance. In our latest eBook, What Can You Do About Managers Disengagement, Dr. Jack Wiley, Engage2Excel’s chief scientific officer, presents original research and guidance on how organizations can better understand, address and overcome manager disengagement.
