Last year, I wrote a blog post on how the great resignation has affected markets and increased time millionaires. Global labour shortages have left companies struggling to find and keep staff. It is safe to say that we are in an employee-driven market – and they hold all the bargaining power.
But what are companies worldwide doing to fill labour gaps? A Financial Times article shows that some common responses include raising wages and increased investment in technology that allows staff to spend more time on fulfilling work. Here is what the Financial Times article goes on to say about the UK specifically:
With the cost of living rising in the UK, a rise in wages does not seem like a bad idea. Employers are now finding a new generation of workers – Millennials and Gen Z – who care about what their employers can do for them rather than vice versa.
To run a successful business, you need the right people. What is your company doing to hire and retain staff? We would love to hear your thoughts. The Great Resignation is affecting every market and country.
“I think for a number of our hourly production workers, despite our best efforts, a job is just a job to them,” says Chris Gaddis, who leads human resources at JBS USA.