Changing relationships between workers and employers in the U.S. and a sharp increase in voluntary employee turnover have resulted in a tight labor market. In some sectors it has been particularly difficult to attract and retain workers with specialized skills. Demographic shifts in the workplace accelerated during the first years of the pandemic, with younger people now making up a far more substantial portion of the U.S. workforce. Reimagining the workforce culture and employee experience remains a challenge for management teams in some sectors. Sectoral characteristics influence how and the extent to which workforce issues could affect company performance.
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