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Key Takeaways
The current job market is challenging for applicants, with significant competition and a 30% increase in applicants per position. The advent of remote work has expanded the talent pool, but it can lead to overwhelming numbers of applications for employers. Approximately 70% of job applications are screened out by applicant tracking systems before they reach human recruiters. Company culture is critical in employee retention; organizations that quickly cut wages or lay off employees during the pandemic are now struggling to attract talent. Approximately 45% of workers cite base pay as the primary reason for leaving a job, followed closely by lack of career advancement opportunities (around 40%). Only 35% of U.S. workers are satisfied with their professional development and career advancement opportunities. About 85% of managers receive no formal training in people management, impacting their ability to support employee development. A...
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