ColumnistsAug 16, 2022
The PR Adviser: Describe Your Customer ColumnistsAug 18, 2022
Squirrel Spotting: The Travails of Attracting and Retaining Talent
The job market is tight, making it paramount for employers to have the type of culture employees really crave, Peter Smith writes.
Peter Smith is an industry consultant, speaker, sales trainer, and author. He can be reached via email at TheRetailSmiths@gmail.com.
According to the U.S. Bureau of Labor Statistics, the unemployment rate now stands at 3.5 percent, matching the lowest rate in 50 years.
Retail, in fact, has recovered so well that there are now 208,000 more people employed in the sector than in February 2020, the month before the onset of the pandemic in the United States.
As impressive as those numbers are, however, they signal potentially significant problems for employers in both attracting new talent and, more importantly, retaining their top people.
We are now firmly ensconced in a “buyer’s market” in which employees hold most of the cards. Rarely have they had such leverage when it comes to deciding to stay with their current employers or seek greener pastures elsewhere.
According to Zippia, 65 percent of Americans are actively searching for a new job right now.
In the 2001-2007 version of The Best of Gallup Management Journal, Brian Brim wrote, “Though companies may recognize how crucial it is to engage their workers and may even acknowledge that it must be an ongoing process, the essential principles of employee engagement have not become ingrained.”
If 65 percent of employees are actively searching for new jobs, it is hard to imagine that circumstances have changed much in the 10-plus years since Brim’s article.
Retail, in fact, has recovered so well that there are now 208,000 more people employed in the sector than in February 2020, the month before the onset of the pandemic in the United States.
As impressive as those numbers are, however, they signal potentially significant problems for employers in both attracting new talent and, more importantly, retaining their top people.
We are now firmly ensconced in a “buyer’s market” in which employees hold most of the cards. Rarely have they had such leverage when it comes to deciding to stay with their current employers or seek greener pastures elsewhere.
According to Zippia, 65 percent of Americans are actively searching for a new job right now.
In the 2001-2007 version of The Best of Gallup Management Journal, Brian Brim wrote, “Though companies may recognize how crucial it is to engage their workers and may even acknowledge that it must be an ongoing process, the essential principles of employee engagement have not become ingrained.”
If 65 percent of employees are actively searching for new jobs, it is hard to imagine that circumstances have changed much in the 10-plus years since Brim’s article.
“Stop bullshitting people about how great your culture is. If it were true, you wouldn’t be losing people.”
So, what can be done? How can employers mitigate against the possibility of losing their top people and also become more attractive to quality professionals looking for a change?
For starters, stop bullshitting people about how great your culture is. If it were true, you wouldn’t be losing people, and you’d be decidedly more attractive to candidates already in the market for a new job.
You can determine what’s important in your company; the way you treat your people, the compensation structures (for good or bad), whether you invest in your people or not, the things you celebrate, and the things you tolerate.
Despite that, to a great extent your culture is not what you say it is but, rather, what your people experience on a daily basis.
You may believe your culture reflects your values and aspirations, but it may read entirely differently to your current team and to potential new hires.
I visited with a company recently and witnessed a culture that was as close to soul-sapping as I could have imagined. Despite there being lots of people in the space, there was no energy at all in the building.
The employees didn’t look like they were having much fun, and I saw precious little evidence of people joyfully engaging with each other.
As I walked around, I noticed that the desks and cubicles were devoid of the personalization so typical of these types of offices, with scant evidence of family, hobbies, or other interests.
There also was no music playing; the overall effect was of a dour, uninspiring, and impersonal space.
I suspect the leadership of that company would be shocked at my observations, preferring to believe, as many do, that they have a vibrant company culture.
What I saw and felt however, was very different, and that is what I took away with me.
At the most basic level, people want to feel safe and connected at work.
They want a company and mission worth believing in, and they want to know their voices will be heard, and their opinions matter.
They want a culture that prizes innovation and recognizes and welcomes mistakes as a necessary consequence of that open mindset.
Roger Martin, former dean of the Rotman School of Management at the University of Toronto, wrote in the Harvard Business Review (March-April 2022), “Do you have to listen to everything top talent has to say? Of course not. But recognize that talented people don’t take kindly to being dismissed out of hand. And they always have options, options that may be highly damaging to you.”
They want the opportunity to make money in a company that does not impose a ceiling on the earnings of its top people, but what they really want is a career path, an opportunity to do great and meaningful work.
They want to be surrounded by other top talent, and they want a company that invests in them, and which gives them an opportunity for professional development.
They want a company where loyalty is a two-way street (that does not mean the absence of turnover, but a clear sense of what matters most in hiring and exiting employees) and one where all employees are treated with respect, including people who are leaving, or have left, the company.
They want a company where wins, big and small, are celebrated, and where disappointments are acknowledged and owned, without stigmatization or over-dramatization. Good teams don’t suck because a company has a bad month.
As Jim Collins wrote in “Good To Great,” “What do the right people want more than almost anything else? They want to be part of a winning team. They want to contribute to producing visible, tangible results. They want to feel the excitement of being involved in something that just flat-out works.”
If you are one of the many companies still offering an hourly wage and one week’s vacation as an incentive to retain and attract top talent, you’ve got a tough road ahead.
Editors' Picks
Sponsored by
More on Columnists
The Latest
Events & AwardsOct 30, 2026
Illuminating Carved Paraiba Pendant, Suite of Moonstones Wow at Spectrum AwardsSpectrum’s “Best of Show” honors went to a 101-carat Paraiba carved to look like Medusa that has a magnet-activated LED light.
TrendsOct 30, 2026
Edina Kiss’ Pendants Say ‘Eye’m Watching You’Our Halloween Pieces of the Week are four “Eye” pendants, each set with colorful gemstones.
MajorsOct 30, 2026
The RealReal Hires Former eBay Exec as New Chief Merchandising OfficerAlexis Hoopes expanded eBay’s “Authenticity Guarantee” program during her tenure.
Brought to you by
A Diamond Is Forever Launches 2026 Holiday Campaign Championing Natural DiamondsA Diamond Is Forever's holiday campaign reimagines natural diamond icons for a new generation celebrating individuality.
WatchesOct 29, 2026
Bucherer Opens Rolex Boutique in Washington StateThe Rolex-owned retailer’s new 4,700-square-foot store’s façade honors the Pacific Northwest’s evergreen forests.
Weekly QuizOct 29, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TrendsOct 29, 2026
Amanda's Style File: All Treats, No Tricks Get into the Halloween spirit with this roundup of 13 spooky jewels.
MajorsOct 29, 2026
Gesswein Hires Longtime Bench Jeweler, Educator Ann CahoonCahoon was appointed strategic account and educational program manager at Gesswein, which recently joined Continental Buying Group.
Brought to you by
Open an Account, Get $50 Off Your First Order. No Code Needed.Built on Relationships. Refined by Craft.
MajorsOct 29, 2026
Amanda Seyfried Stars In Tiffany & Co.’s Holiday CampaignTiffany & Co.’s latest ambassador makes her debut in its “Love Is a Gift” holiday campaign.
EditorsOct 28, 2026
These Wicked Jewels Will Cast a Spell on YouFor her annual Halloween story, Senior Editor Lenore Fedow highlights bewitching jewels fit for a witch that go from day to unholy night.
CrimeOct 28, 2026
Man In Florida Who Swallowed Tiffany & Co. Earrings ConvictedJaythan Gilder was found guilty of robbery and grand theft after stealing and then ingesting nearly $800,000 worth of Tiffany & Co. jewelry.
SurveysOct 28, 2026
Consumer Confidence Up in October as Gas Prices EaseConsumer confidence remains on the long-term downward trend that’s persisted over the past few years, said a Conference Board economist.
MajorsOct 28, 2026
Stuller’s Holiday Campaign Lets the ‘Magic of the Moment’ ShineThe holiday campaign includes key jewelry trends, a curated holiday gift guide, and resources to help jewelers prepare for holiday shoppers.
SourcingOct 27, 2026
De Beers Celebrates the Holidays With New ‘Desert Diamonds’ CampaignThe “Icons” holiday campaign spotlights four classic diamond jewelry styles reimagined in “Desert Diamond” tones.
IndependentsOct 27, 2026
Solomon Brothers Acquires Mervis Diamond ImportersSolomon Brothers, which has three stores in the Metro Atlanta area, said it may continue to acquire other independent jewelers.
IndependentsOct 27, 2026
Gabriel & Co. Supports Charity Partner DKMS With Gala, New JewelsThe fine jewelry brand raised $2.3 million at its annual gala that supports the nonprofit’s fight against blood cancer and blood disorders.
Events & AwardsOct 27, 2026
JFC Announces 2027 ‘Facets’ HonoreesThe annual fundraising event is slated for June 6, 2027, at The Venetian Resort in Las Vegas.
CollectionsOct 26, 2026
Bliss Lau’s ‘Vantage’ Point Is the Hawaiian HorizonIn her “Vantage” collection, Lau explores heritage, identity, and inner strength through designs featuring blue-green Guatemalan jade.
MajorsOct 26, 2026
Tiffany & Co. Takes Consumers Behind the ScenesThe jeweler gave the public backstage tours of its flagship store and its design and innovation workshop as part of LVMH’s open house.
Events & AwardsOct 26, 2026
Support JFC’s ‘Monster Mash Challenge,’ If You DareVote for which jewelry professional should dress up as a monster to support Jewelers for Children’s annual Halloween fundraiser.
MajorsOct 23, 2026
PGI USA Set to Close at Year’s EndThe closure is part of a global restructuring that also includes PGI winding down its operations in Japan, South Korea, and Hong Kong.
SourcingOct 23, 2026
Rachel Chalchinsky’s ‘Survivor Tribute’ RingThe ring, our Piece of the Week, was designed by eight-year breast cancer survivor Rachel Chalchinsky of Color Source Gems.
TechnologyOct 23, 2026
JA Unveils New Website, LogoThe website offers enhanced member benefit access, industry directories, educational resources, a job board, and access to the MJSA Journal.
FinancialsOct 23, 2026
Kering’s Jewelry Sales Up Double Digits in Q3Boucheron and Pomellato had a strong third quarter, with Kering looking at jewelry as an increasingly important part of its portfolio.
CrimeOct 22, 2026
Jeweler Shot and Killed in His Suburban Cincinnati Store Tara Sinchuri was the owner of Everest Jewels in Fairfield, Ohio, and a father of three. He was found dead in his store on Tuesday.
MajorsOct 22, 2026
Neiman Marcus Has Gifts for the Jewelry Lover Who Has EverythingBespoke experiences from Buccellati and Verdura are on the retailer’s 2026 “Fantasy Gifts” list.
Events & AwardsOct 22, 2026
JIS Fall 2026 Reports Record-Breaking Attendance The number of participants at the fall show was up 12 percent.
