| Hi there, it's Tae from the Bloomberg Opinion team. American executives' latest headache is labor shortages. As the economy shudders back to life post-pandemic, companies are struggling to hire qualified workers. Many people are either hesitant to return to offices, don't have the right training, are already getting unemployment checks—or some combination of all three. The competition to hire workers is intensifying across industries from restaurants and retailers to financial services. Chipotle Mexican Grill Inc. and McDonald's Corp. said this month they plan to raise their average hourly earnings by at least 10%. Bank of America Corp. announced coming wage hikes through 2025. And tech companies are following suit. Already this year, Amazon.com Inc. has made two major pay announcements, offering signing bonuses of up to $1,000. Similarly, Uber Technologies Inc. and Lyft Inc. are spending millions on incentives to attract new drivers. Large internet and software companies—including Facebook Inc., Alphabet Inc.'s Google and Microsoft Corp.—may come out relatively unscathed. Much of the wage inflation this year has been focused on labor-intensive, entry level workers, not the software engineers relied on by these companies. According to jobs marketplace Hired, the average salary for software engineering roles increased by 5% in San Francisco area and 3% in New York in 2020. So far this year, there hasn't been any significant changes on the job market in those geographies. Amazon's situation is a bit more complicated. As the second-largest employer in the U.S. with 1.3 million workers, it does have a large hourly workforce. If wage inflation accelerates, Amazon's profitability will be crimped. For example, the company has said its latest pay hike cost more than $1 billion, on top of the $2.5 billion in incremental bonuses it gave to workers last year. But it's gig-economy companies that could take the biggest hit from the worker shortage. I'm skeptical about the ride-hailing companies' prediction that drivers will quickly return after getting vaccinated and unemployment benefits expire later this year. The level of competition for hourly workers is unprecedented since Uber, Lyft and DoorDash began operations roughly a decade ago. Plus, retailers like Amazon and Costco Wholesale Corp. are boosting wages. Those workplaces also have health care and retirement plans, benefits that the gig economy doesn't offer. In fact, it looks like most gig workers want a different type of job altogether. According to a recent survey of 25,000 Americans by McKinsey, more than 60% of gig economy staffers said they would prefer permanent employment. The respondents also said not having health insurance was the No. 1 barrier to their well-being. Following a major health crisis, it shouldn't be a surprise that workers' expectations for employers have risen considerably. While the larger technology companies have the resources and business models to deal with the new requirements, the ride-hailing and food-delivery companies aren't as lucky. Workers, meanwhile, may finally have more bargaining power. —Tae Kim | 
↠〖*HDvideo~〗 2020 Skyggen i mit øje PelÃcula Completa En LÃnea released 2020. story: Skyggen i mit øje PelÃcula Completa En LÃnea. ↞◬∺Skyg...
Post a Comment