The 2023 Work Institute's Retention Report highlights the challenges of retaining employees amidst rising turnover rates. It notes a record high of over fifty million voluntary departures in 2022, driven by shifting employee expectations beyond just pay to include career development, work/life balance, and supportive culture. Career opportunities remain the top reason for leaving, alongside factors like job stress and management behavior. The report also explores workplace diversity and the demand for flexible work arrangements. To combat turnover, employers are urged to gather feedback, analyze trends, and implement targeted retention strategies. Overall, it emphasizes the need for employers to understand and address employee needs to retain talent effectively in today's job market.

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