Employee attrition: how to combat in times of inflation?

Aneta Samkoff

The difficult times are not over yet, at least for businesses. First, companies that survived the Covid-19 pandemic, lost revenue. Then the wave of massive quits informally labeled the Great Resignation has left many grappling with employee attrition. As firms struggle to find new employees for unfilled positions while keeping the remaining employees satisfied, rising inflation is now another element they need to deal with. And that’s especially difficult since the other problems did not go away.

Employee attrition rates continue as HR leaders' #1 nightmare

In fact, for the past 12 months, job openings in the US have held record highs of more than 11 million each month. Quits continue at 4 million per month, and the number of Americans looking for a job stays low, causing a huge gap between the supply and demand of the labor force.