10 Ways to Get Labor Leverage

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After three years of coping with a poor hand in a labor-squeezed economy that, after a decade of slowly deteriorating leverage, companies are seeing that this year’s recession has pushed the pendulum back in their direction. . But CEOs hoping for a quick rebalancing of the relationship between labor and management are likely to be disappointed, according to a special report for CEOs, “Leading the Labor Bubble,” which finds that newly empowered American workers are the new empowered. Americans will remain workers for some time, even if there is a slowdown in the US economy.

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But that doesn’t mean employers have no hands. Below are ideas for a CEO with an empowered workforce and a way to navigate a downturn in the economy together:

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For more transfer see. The great resignation is waning, but the changes are not over. Tom Barry, managing partner at GHJ in Los Angeles, says, “People who have changed jobs for financial reasons are starting to say, ‘Did I make the right choice for my life and is this job in line with my values?’ “People are evaluating their long-term commitments more critically.”

Score Productivity. Digitization means greater ability to track productivity; According to The New York Times, eight out of the 10 largest private American employers do so. They also include Amazon and others that are unionized or where unions are munching. At the same time, some activists are rebelling over Big Brother-style surveillance.

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Project concerns. “People want to feel that leadership can see them, understand them and is concerned about them and their pain,” says Jeff Jolton of Spencer Stuart. Failure on that front may prompt workers to seek a place where they will be recognized.

Show sympathy. “It creates the kind of workplace that employees can be loyal to today,” says employment attorney Claire Deason. “Assume no one will work for you just because they feel they owe something to you, and instead think, ‘Do I want to work for me?'”

Change labor tactfully. “Our customers are paying more attention to labor augmentation and replacement technology as they address challenges on the labor front,” says Matt Armanino, CEO of Armanino, an accounting firm based in San Ramon, Calif.

See new places. The Salt Lake City-based team partnered with Brigham Young University Pathway to contract college-educated students living in Argentina, Brazil and other countries. “They are the highest earners in their home countries, but these knowledge workers cost only one-third to one-third of their US counterparts,” says team CEO Corey Pinegar.

Use generosity. Medical-device maker Medtronic agreed to pay all undergraduate college tuition costs for employees in the US and Puerto Rico. More than 1,100 of its 44,000 employees expressed interest.

Consider spot bonuses. “We like to reward people in the moment,” says Antonella Pisani, CEO of iFull Media, a digital-marketing organization in Dallas. “I think it’s more meaningful. People feel like we really care about them as human beings and about their good work, about an annual cycle where it feels like you’re going through the motions. are.”

Go back to basics. Governance manager training, mentorship programs and positive feedback, which were mostly lost during the pandemic. “They go a long way toward building a new version of loyalty,” Deason says. “You want people to wake up in the morning and at least feel fine about going to work, and there’s no substitute for positive feedback.”

Give voice to workers. Create worker councils and put employees on board as well. “It’s a way for workers to ask questions about issues and raise concerns,” says MIT labor professor Tom Kochan. “If workers feel that employers are liable over time, this reduces the incentive to settle. But if workers feel they are not good enough, history shows they increase in stronger forms. and lead to unionization or some other mechanism.”

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