2021 saw 34.4 million people quit their jobs, with more than 24 million doing so since April. Potentially more troubling is that according to a recent survey, those positions remained vacant longer than prior to COVID-19. It is imperative that employers determine the root cause for people leaving their firms and try to reverse the trend by remedying real and perceived issues. Compensation and pay are part of the answer, but there is more to it than that – you should be looking at pay as a strategic employee benefit that is being distributed as part of a plan to improve the employee experience and achieve fairness and pay equity.
