The Economic Perspective: “Keeping Employees”

This is Mary Walden with economist MW, welcoming you to the economic perspective.  Today’s program looks at keeping employees.  Mike, with today’s tight labor market, more businesses are putting a priority on keeping their valued workers.  How do they do this?

 

Mike:  Summary Answer

  • Obvious way is with better pay and benefits
  • Problem is, could reduce competitiveness of the business
  • So businesses are using other methods
  • Flexibility of hours
  • Attention to personal issues of employees, and making accommodations
  • Programs to reward work well-done
  • Offers of training so can advance
  • It’s a new labor market
  • I’m MW

 

Mary:  And I’m Mary Walden for the Economic Perspective, an NC State Extension program from the Department of Agricultural and Resource Economics.