Employee retention vs. full employment — who wins?

One of the most significant challenges leaders face today, heck, one of the most significant challenges leaders have been faced with over the last 10 years of economic expansion, is retaining their employees in a full employment market.

A full employment market can be defined in so many ways but the definition that resonates with me the greatest is an employment market reaches full employment when virtually all who are able and willing to work are employed. So how can business leaders retain employees — with an eye toward achieving business objectives and goals?