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Hi Reader,

While my new book focuses heavily on tactical turnarounds, there’s another element no struggling (or thriving) business can afford to ignore: community. I’m talking about building genuine connections with mentors, peers, and even competitors. If your network is stagnant, your business could be too.

The Power of the Right Room

We’ve all heard, “It’s not what you know, it’s who you know.” But I’d tweak that to: It’s who you learn from, and who you share with. By seeking out mastermind groups, industry events, or local meetups, you expose yourself to new perspectives and potential collaborators. I’ve often found that a simple conversation sparks fresh ideas that help me refine my strategies—whether for my own ventures or for clients in need of a turnaround.

Finding a Mentor

Think of mentorship as a shortcut to deep, practical wisdom. This doesn’t mean you’re off the hook for doing the hard work; it means you can avoid pitfalls someone else already navigated. A good mentor challenges your assumptions, offers new angles for problem-solving, and might even introduce you to people who can further your goals.

• Where to Look: Alumni networks, LinkedIn industry groups, or even associations like SCORE.
• How to Start: Offer to buy them coffee or hop on a quick Zoom call. Be respectful of their time, but clear about what you hope to learn.

Peer-Level Support

Sometimes, you need more than expert advice—you need solidarity. Fellow small-business owners (even competitors) can be an incredible resource. Share best practices, talk about common headaches, and find synergy in unexpected places. You’ll be surprised how many folks are open to collaborative growth rather than seeing each other purely as rivals.

Action Step

• Identify One Event in the next 30 days where you can meet new connections.
• Reach Out to One Person you’d love to learn from. Express genuine curiosity about their journey.

FACTS & FIGURES

Job Satisfaction & Employee Retention Crisis

The Great Reshuffling Continues

Americans' job satisfaction has plummeted to a decade low, with nearly 7 in 10 US workers considering a career change in the past year. Searches for "how to write a resignation letter" have surged by an astonishing 2,250% in just the past month.

Industries with the Highest Turnover Rates

RankIndustryAverage Annual IncomeMedian Years with Current Employer% of Employees Leaving Within a Year1Hospitality & Food Services$36,0502.134.01%2Arts, Entertainment & Recreation$39,7292.726.29%3Wholesale & Retail Trade$65,7253.125.06%4Publishing & Media$71,6463.921.35%5Human Resources$66,2483.421.23%

Key Insight: The hospitality industry sees 1 in 3 employees leaving within a year - the highest turnover rate across all sectors.

Industries with the Best Retention

The legal services sector shows the strongest employee retention, with only 17.51% of staff changing jobs within a year, followed by property & real estate (17.98%) and public administration (18.04%).

What Keeps Employees Loyal? Industries with six-figure salaries maintain lower turnover rates:

• Public Administration: $134,920 (6.2 years median tenure)
• Banking & Finance: $126,712
• Utilities & Energy: $125,000
• Science, IT & Technology: $161,259

Job Hopping by Age Group

Changing Jobs Within 12 Months

16-19 years 70.3%

20-24 years 48.3%

25-34 years 28.1%

35-44 years 17.5%

45-54 years 12.6%

55-64 years 9.6%

Generational Divide: Younger workers prioritize flexibility and growth opportunities, while older employees value consistency and long-term commitment.

Smart Job-Hopping Strategies

DO:

• Have a clear goal for each career move
• Be transparent but tactful about your reasons for changing jobs

DON'T:

• Burn bridges or badmouth previous employers
• Become a "serial job hopper" without strategic purpose
• Misrepresent your work history

SMALL BUSINESS TAKEAWAY

As business owners, understanding these trends can help you:

1. Design compensation packages that incentivize longevity
2. Create advancement opportunities that satisfy younger workers' desire for growth
3. Build a company culture that addresses the core reasons employees leave
4. Implement mentorship programs that strengthen employee connections

Source: GIGAcalculator analysis of US Bureau of Labor Statistics data, in partnership with JobLeads

REFLECTION QUESTION

How does your business's retention rate compare to your industry average, and what one change could you implement this quarter to meaningfully improve employee loyalty?

Take a moment to assess your current turnover situation. Are you outperforming your industry peers, or do you have room for improvement? More importantly, what specific action could transform your workplace into one that talented people are reluctant to leave?

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Best,
Micah
​Fractional CEO | Business Coach | Host of The Common Cents Show​