Workers are rebelling. Work is too hard and stressful, pay is inadequate, benefits miserly. Job hopping is easier.
The competition for workers is intensifying.
The demand for more is on the march … and many employers are responding with higher pay offers, hiring bonuses and creative benefits. Now they are trying to figure out how to pay for it all. How far can price increases go without dampening demand?
In any case it all seems to add up to higher inflation which was thought to be a spike; perhaps not.
Experts pontificate that higher pay and better benefits are great motivators for employees. They are happier, more productive, better team players, provide better customer service, etc., etc., etc.
Now if all that was true, you would think the smart people running businesses would have figured it out sooner? Why antagonize workers you need to be successful? Why wouldn’t any company want better workers?
Because it is not true. Yes, immediately following a raise, or a new benefit announcement people are jazzed, motivated, but it soon wears off and in a few months we’re at “what have you done for me lately?” The raise has faded into the ongoing paycheck and lifestyle has quickly absorbed the extra income. Better benefits are an entitlement.
As long as the economy is humming along thoughts turn to another employer who can provide even more.