of laboratory market has found a new normal – again. After the dramatic swings of the Covid-19 pandemic, as well as a flurry of words, the market has settled into a pattern we have never seen before. If it lasts, businesses will have to think about human resources in a whole new way.

First, we had the Great Resignation, then the Quiet Stand, which was quickly followed by the Quiet Hiring. And now we are in an unprecedented situation some economists are calling “The Great Attitude”. It's an unusual moment in time given how workers are keeping their jobs and companies are keeping their workers.

In February, new hires reached only 3.7% of the existing payroll and give up reached only 2.2%. The last time the sum of these two percentages was this small was in December 2017, when Unemployment rate was 4.1%. To see this small jolt in the labor market with an even lower unemployment rate — just 3.9% — is unprecedented in the data we have, which goes back to 2001. Typically, dybek falls when the unemployment rate increases. But for now, we're still near historic lows for the unemployment rate.

One reason for this lack of i doubt it is uncertainty that still plagues the economy. The path of interest rates, the upcoming election, the wars in Gaza and Ukraine and the possibility of corrections in asset markets are all on the minds of managers, workers and investors. Businesses are also concerned that if they let workers go in such a tight labor market, they will have a hard time hiring when they need workers again. Meanwhile, even expert opinions about the future of the economy don't carry much weight, since so many forecasters were wrong about a recession coming last year.

So what's a business leader to do? The best approach is to take the job market at face value and adjust the strategy accordingly. This means thinking of new hires and existing workers as partners for the long term. Here are some ways to do it.

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1. Plan recruiting efforts to account for the lowest attrition

Workers are keeping their jobs longer. In the latest figures from the Bureau of Labor Statistics, the average working hours of American workers had reached the end to 4.1 years after a long decline. With fewer people walking out the door, you don't need as many walking in. You may spend more time searching for candidates for a particular position, but that doesn't mean you can be more selective – there are still tough competition for the best jobs.

2. Invest more in training

The longer workers stay with you, the more benefits you get when they acquire knowledge and skills. To reap these benefits over a longer period of time, you need to get started investing in training as soon as possible.

You can also be smart about the types of training you offer; increasing workers' ability to use equipment, software and processes that are unique to your business increases their value to you, but doesn't necessarily make them more likely to switch jobs. But if you're having trouble attracting workers, you may want to offer training in skills that are in high demand in the job market. Then you can figure out how to make them stick – which can help you figure out why you had trouble attracting them in the first place.

3. Shift the mix of benefits

Training is not the only way to invest in workers. Helping them build their human capital through education subsidies also makes them more valuable. Again, you can be smart about the types of education you support, such as part-time MBAs for potential managers or skill-specific degree programs for individual contributors.

Investing in workers also means keeping them healthy and happy. Comprehensive medical benefits including exercise programs, mental health services and wellness care can make a big differenceas it can free healthy snacks AND paid leave. Businesses that provide support for growing families, such as paid parental leave, are too more likely to retain workers for longer.

4. Structure retention incentives differently

Retaining workers was such a challenge in recent years that some businesses offered retention bonuses afterward. only three months. With workers less likely to leave, these incentives may be pushed back. Ladder incentives can also encourage workers to stay longer. For example, if an employee's bonus for two years' stay was 50% more than the bonus for one year's stay, then the worker may be more likely to stay rather than start at the bottom in another business.

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5. Explore long-term options in all areas

Workers increasingly think of their job offer as a portfolio of different types of work and flexible work, and business leaders can do the same – especially in this job market. Just as there are ways to benefit from long-term relationships with permanent employees, there are also great benefits from commitment and consistency among temporary and flexible workers. Reducing turnover and deepening experience in these groups can increase productivity. Our surveys of workers on the Instawork platform suggest this more than half can be engaged stay in the same business for at least three months working full time.

Matching these workers with businesses looking for long-term staff – in all its forms – is a critical task in today's job market. It is also one that will have benefits in the future, as workers deepen their skills and receive more stable incomes through more committed relationships with businesses.