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.