Highest Quit Rate since 2008
According to the Bureau of Labor Statistics (BLS), 2.8 million people quit their jobs in March 2015, up slightly from 2.7 million in February and the most in seven years. BLS reported that the unemployment rate fell to 5.4% in April, down from 5.5% in March, which is the lowest since May 2008. With the Great Recession a thing of the past, employers are bracing for higher Voluntary Turnover rates as employees take a critical look at the job options. Employee benefit and salary requirements are expect to be on the rise, making small business recruitment and retention a serious challenge in the very near future.