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Decision Toolbox CEO Kim Shepherd Weighs in on OC Unemployment Rate

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Decision Toolbox CEO Kim Shepherd recently spoke with the OC Register about Orange County’s shrinking unemployment rate, and what that means for employers.

According to the OC Register, the OC unemployment rate hit 5% in April, the lowest it’s been since May 2008. The state joblessness rate decreased to 7.8%  last month.  Unemployment nationwide fell to 6.3% in April.

There’s been a rapid shift in employees getting “untrenched,” according to Kim Shepherd. In layman’s terms, that means people who have jobs are feeling more confident about looking for alternatives.

“They were afraid and dug in, but that’s shifting rapidly,” Shepherd explained.

That isn’t great news for those who have been out of work for months or years, who will face more competition, she said.

What this means for employers is they can no longer count on an uncertain job market being their primarily retention tool.

In her book The Bite Me School of Management, Shepherd offers this advice:

To counteract temptation – and proactively address turnover – conduct staged, mock exit interviews with your key talent.  At Decision Toolbox we ask our employees to envision the scenario that would tempt them away from us, and then use their answers to address any unmet needs.  Most of the time the list isn’t expensive and in many cases it’s free.

For more on the shifting unemployment rate, check out the OC Register article.

For more tips on retaining talent and creating a corporate culture that attracts A players, download a free copy of Kim Shepherd’s white paper – it’s a quick read (only 8 pages) and full of entertaining and practical tips.

Connect with Kim on Twitter and LinkedIn.

To learn more about Decision Toolbox, please contact us – we’d love to hear from you!

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