The labor market has been turned upside down due to Covid and Boomer demographics. Consequently, managers are dealing with a labor market where “suppliers” have more leverage than “buyers” for the first time in memory. This shows up in prospective employees “ghosting” employers on interview and increasingly on the first day of work if hired. Even then, once hired many employees are often lured away by higher compensation, work from home policies and other benefits.
Whatever happened to loyalty?
Folks at the Wharton Business School who have been studying the issue have some thoughts that may help you cope with the reality of a situation around employee loyalty that may never again be what it was. This executive summary, “Is Workplace Loyalty Gone for Good?”, deserves 7 minutes of any C-Level executive’s time.
