Workers and Employers Wield Different Tools to Win the Labor Shortage

 

Even though recent reports from the Bureau of Labor Statistics point to rising rates in workers going back to their jobs, influenced in part by the end of COVID unemployment benefits, payroll tallies still don’t come close to before March 2020 and prior; 5.3 million short, to be precise. This general strike, in everything but name, has changed the dynamic between employees and employers. Companies respond to a labor shortage with strategies for incentivizing new workers and filling the gaps with cutting edge technology, while workers look at job market lacking quality wages and benefits and demand change through withheld labor.

Part of how companies are responding is by weighing whether these positions need to be filled at all, turning to AI and machine learning as a potential solution to reduce the scope of required labor. This strategy may work in some industries, but in Big Tech for example, where positions are increasingly demanding high levels of problem-solving, AI may only go so far to alleviate the situation.

And once again, the world asks: is this a sign that positions will be permanently eliminated from the economy? And if so, what are the long-term ramifications? Will this change how workers wield their power in the workplace, especially in unionizing efforts? To get more insights, we spoke with Scott Hirsch, CTO of Talent MarketPlace, an algorithmically-enhanced recruitment platform for employers and workers. Here’s where he saw AI, labor shortages, and Big Tech intersecting.

Follow us on social media for the latest updates in B2B!

Image

Latest

AI in content marketing
Generative AI in Content Marketing: Why Creativity & Authenticity Will Make it Work
July 11, 2024

Will 2024 be known as the year AI made waves in content marketing? It sure seems so, with recent AI-driven ads from Toys R Us and Under Armour generating significant buzz online. Not just this: Despite having no official ties to the brand, a mock Volvo ad created entirely by AI has also gone…

Read More
Hiring Made Human: Hiring When You’re a Start-Up
July 11, 2024

The challenges of hiring for a startup have become more pronounced these days than ever. With technological advancements and evolving market demands, startups must be agile and strategic in their hiring practices to ensure success. According to some studies, nearly 90 percent of startups fail, with a significant factor being the inability to attract…

Read More
Focus on the Customer
Fifth Inning – Focus on the Customer
July 11, 2024

In a compelling narrative by Jesse Cole, the Savannah Bananas, a baseball team known for its unconventional approach, has declared advertising dead. Cole emphatically asserts that while advertising may attract customers, it is the fan experience that fosters lasting loyalty. In a bold move, the Savannah Bananas have eliminated all forms of advertising at…

Read More
Dr. Mark Manera talks Trucking Industry
The Trucking Industry Needs a Fitness Overhaul to Jumpstart a Trucking Health Revolution
July 11, 2024

With the trucking industry seeing many changes that prioritize efficiency and productivity, the health of truck drivers has increasingly peaked as a critical concern. With life expectancies for truck drivers averaging 16 years less than the general population, there is an urgent need to address health issues within the industry. Recent initiatives, like the…

Read More