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.
Amazon’s HQ2 Pause Should Force Businesses to Rethink Workplace Flexibility Office Space Expansion
As Amazon decides to pause the construction of its HQ2 project amidst an uncertain economic climate, businesses are forced to grapple with the strategic viability of their workplace and work model. Major tech companies, faced with significant workforce reductions, are reevaluating the need for traditional office spaces and whether it’s a wise decision to consider […]
Metaverse Marketing: Influencer Avatars Open Up Retailers to a Target Generation of Consumers
The Metaverse has been growing since 2020 and is predicted to hit $800 billion by 2024. The Metaverse has always been extremely popular with the gaming industry, but there are more areas where the Metaverse has been proven to generate revenue for companies. Retailers are now expanding and using Metaverse marketing to reach younger generations […]
Sustainable Living: Exploring the Relationship Between Home Development and Trees
On this episode of Building Roots, two of Treenewal’s ISA Certified Arborists, James Allen and Cory Herpel, discussed the importance of taking a proactive approach to maintaining healthy trees in developing communities. They highlighted the need for involving an arborist early in the process, before any construction takes place, to minimize root damage and other […]