2023 Baltimore Business Review

The COVID-19 pandemic has created an unprecedented challenge for managers across industries and organiza – tions to motivate and retain their workforce in the current work climate of “Quiet Quitting”, defined as doing the bare minimum, rather than leaving the organization, and the “Great Resignation”, defined as leaving the organization entirely and voluntarily. According to the Bureau of Labor Statistics, in 2021, there were more than forty-seven million U.S. workers separated from their jobs, of which almost 24 million voluntarily quit their jobs, an all-time high quit rate. According to the latest Job Openings and Labor Turnover survey summary, the above statistics have not changed much for the past nine months of 2022, which signifies a persistent trend of voluntary turnover. Across industries, both small and big businesses have faced staffing shortages as they reportedly have left vacant positions unfilled (Fuller & Kerr, 2022, the National Federa – tion of Independent Business Jobs report). It is therefore important for organizations to not only recruit and hire talented employees to fill those vacancies, but also retain those employees.