Finding the right fit for a job opening is time-consuming and expensive. Companies invest a lot of money and effort into soliciting and interviewing applicants and onboarding new hires, but despite all this money and effort, there’s no guarantee a new employee will work out. This means it’s in an employer’s best interest to do what it can to retain its existing talent.
However, this strategy is becoming increasingly challenging because of both the tight labor market, in which workers have relatively high leverage compared with employers, and the generational shift in attitudes around loyalty to employers.
