Economics
High Quits Rates, Poaching: U.S. Firms Are Plagued by Turnover
- Retention is growing problem across country, Fed report shows
- ‘It really is a war for talent,’ says a grocery supplier CEO
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U.S. employers aren’t just having a hard time attracting workers, they’re increasingly struggling to hold onto them.
MGM Resorts International will hire 500 to 800 people during a week, only to lose 300 to 400 others, its chief executive officer recently said. In restaurants, there’s a new buzz word for employees who leave after a few days to go work elsewhere: “ghosting coasting.” And at the warehouses of grocery supplier SpartanNash Co., turnover has nearly tripled from historical rates to 70%.