As the Job Market Heats Up, Employers Need to Focus on Preventing Turnover

It seems that along with the warmer weather, the job market has come out of the deep freeze. Just this morning, the US Economy added 288,000 jobs and unemployment fell to a five year low at 6.3 percent. Also, the Life Sciences sector seemed to be heating up as well. According to CB Insights, healthcare IPOs boomed in Q1, and while VC backed deals fell from a 2013 high they still came in at a respectable $1.48B.

What does all this mean? In this environment, despite all the talk of increased M&A activity in the life sciences, employers need to focus on employee retention as candidates begin to explore other opportunities as the economy improves.  In this article, we provide some suggestions on how best to retain top staff. At the Life Science Division of The Richmond Group, let us help you continue to grow or top-grade your staff rather than focus on employee turnover.