In: Economics
Two years ago, unemployment in Canada was at a historic low of around 6%. Many employees were actively seeking new jobs, even though they were not unemployed, and would have been willing to leave their current employers if they were approached with the right opportunity. Employees had so many choices that they could easily find another job if the conditions at their current jobs were not what they desired. Considering the situation, HR managers were advising their organizations to make sure that they offered professional growth opportunities and emphasized social responsibility if they wanted to retain their workforce and keep them satisfied and committed. HR managers were also advising that this was especially important for millennials.
Today, unemployment is at a historic high of around 10% and there are more people seeking jobs than jobs available.
Apply the concepts of organizational commitment and turnover to explain whether the advice of HR managers about how to retain employees from 2 years ago would still apply today. In your answer, make sure that you talk about both commitment and the turnover model, including identifying and discussing all relevant aspects of commitment.