The rosy economic picture in the U.S. is certainly good news, but it’s also created some problems in almost every industry. Consider this: Nearly seven in 10 U.S. employers reported talent shortages in 2019, the highest level ever. What’s more, the U.S. Department of Labor released data showing that there are 670,000 more job vacancies at present than there are unemployed potential workers—and that doesn’t even account for the fact that many of those workers lack the knowledge or skills necessary to be considered for those open positions.
For employers, the reality is that new workers will need significant amounts of training. As this article from CNBC.com shows, companies that need skilled workers must offer not only good pay and benefits but also plenty of education and internal networking opportunities to keep these employees on board for the long term. Of course, planners are central to that effort.
In fact, continuing education within organizations keeps employee turnover down. This article shows that a large percentage of employee turnover is preventable in ways that do not relate to pay. Again, the work of meeting planners can be a significant part of that solution—especially with younger workers, who have turned out to be more loyal than expected. The catch: They’re loyal only when their work conditions are right, including getting enough continuing education and mentoring from their employers.
