University Of Phoenix Provost John Woods On The Labor Shortage & The 5 Things We Must Do To Attract & Retain Great Talent

An Interview with Phil La Duke

… We shouldn’t forget about compensation. A variety of factors have contributed to the Great Resignation and the labor shortage we’re seeing across industries, regions, and the country, but pay discrepancies and a lack of financial security continue to be major issues. In a world where 56 percent of employees are living paycheck to paycheck, as our Index found, improving financial security and ensuring equitable compensation is critical.

The pandemic has allowed people to reevaluate what they want from work. This “Great Reevaluation” has led to the “Great Resignation” which has left the US with a great big labor shortage and a supply chain crisis. What can we do to reverse this trend? What can be done to attract great talent to companies looking to hire? What must companies do to retain their great talent? If not just a paycheck, what else are employees looking for? In this…