"If you take care of your employees, they will take care of your customers and your business will take care of itself,” is a quote famously attributed to JW Marriott, Jr.
In today’s economy, retaining top employees is more critical than ever. With the Covid-19 pandemic causing disruptions to businesses and the job market, it is essential to keep your most valuable talent.
What we are witnessing today is the effect of a recessionary economy in the U.S. and Europe, where hiring has dried out and layoffs are rampant, all due to the squeeze in market demand that was created during the Covid times. This jittery economy has shaken up the talent landscape, but there is a clear lesson inherent in this.
Since recessions and growths are cyclical, companies need to be vigilant and agile in learning from the events of 2021-22 and prepare for the imminent upturn in the market. When that happens, the battle for talent will happen again and companies will lose their top and critical resources if they are ill-prepared.
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