Using Financial Wellness Offerings To Ramp Up Employee Retention

Forbes, June 30, 2022, By Dinesh Sheth

As the job market continues to provide better pay and challenging options to employees, there is evidence that the resignation trend could continue. At the end of February 2022, there were 4.35 million job quits, or 2.9 percent of employment. According to numbers from the Bureau of Labor Statistics, "Quits increased in retail trade (+74,000); durable goods manufacturing (+22,000); and state and local government education (+14,000). Quit rates decreased in finance and insurance (-30,000)." This shows that while employment has increased, there is a considerable net change in employment in certain industries, particularly in retail and manufacturing.