Workforce in Focus
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- “Unhappy Workers Cost U.S. Firms $1.9 Trillion” (Yahoo News): Gallup research finds that disgruntled workers are less productive, costing U.S. firms $1.9 trillion last year. The news story goes on to suggest, “The stakes are high for companies because an engaged workforce increases productivity and that helps boost sales and profit. Connecting better with staff also ups worker retention.”
- See also these MI studies: “The Manufacturing Experience: The Role of Culture and Employee Engagement in Workforce Attraction and Retention” with Colonial Life (Sept. 2023) and “Manufacturers are Looking to Improve the Frontline Employee Experience. Here’s How.” with PwC (Nov. 2023).
- “Job Quitting Fell 12% Last Year—and That’s Bad News for the Economy” (Wall Street Journal): Fewer resignations reflect less confidence in the labor market amid news of layoffs and expected slower growth. The story notes that employees are either more content in their current roles, or less confident in their ability to find a new position.
- See above: The number of manufacturing quits decreased to 203,000 in December, the slowest pace since July 2020. This is a sign that churn, which has been a major issue for manufacturers amid a tight labor market, has eased significantly. In fact, the average number of quits per month in the 2017–2019 period was also 203,000, suggesting that churn has returned to a pre-pandemic pace in the sector.
