UK-based innovation consultancy's research suggests that the so-called "labour shortage" is, in fact, a lack of healthy workplaces (& employers are to blame!).
LONDON, UNITED KINGDOM, November 10, 2021 /EINPresswire.com/ — Press value:
• A 300%+ search volume increase in the last month, for the term "why is there a labour shortage?".
• A significant challenge for businesses right now has been retaining and attracting new talent. Much of the current news narrative focuses on the pandemic, low employee wages and unmotivated employees as the root of the problem. Our research suggests the contrary.
In light of the company's research, The Tnk's Managing Director Seb Lipka said, "We do not have a worker shortage. There is a lack of healthy workplaces. Business leaders need to put their hands up and admit their years of poor people management – this is to blame for the mass worker exodus of 2021."
The COVID-19 pandemic did not cause the labour shortage but was the catalyst for it. In contrast to corporate framings of the issue, The Tnk's research proposes that the great resignation of 2021 was bound to happen. The mass resignation of employees has been brewing for decades, and finally, fed-up employees have the leverage and impetus to say enough is enough.
The real problem stems from years of poor employee experience – not the pandemic: the exhausted excuse used by businesses with inadequate people management.
Over the past year, job openings have increased 62%.
Genuine fears of COVID and lack of affordable childcare may play some role. But are not likely to be a significant factor for the current crisis, with most adults now vaccinated and low hospitalisation rates.
A strong misconception among employers today is that pay is one of the top factors driving the employee shortage. Increasing hourly wages is a start and should help those grappling with affordable childcare, but it is not the solution. Even after increasing hourly wages by 9% to $15.87 and with job openings surging, there are still millions of Americans out of work.
There is not a worker shortage. There is a lack of healthy workplaces. A healthy workplace is one where workers and managers cooperate to constantly improve the health, safety and wellbeing of all employees.
So what is the future of work? The employers that will thrive leading into the post-pandemic world will be those with a people-first focus. By doing so, employers and employees will both benefit from collectively creating a meaningful work culture.
The research also suggests that three-in-four employees stated that they would consider a company's culture before applying for a job. Over half of all employees rank a healthy workplace culture more important than their salary.
Moving forward, employers should focus on incentivised training for current employees through upskilling initiatives, making the workplace safer, improving working conditions, and implementing extracurricular activities. For attracting talent, a focus on new hire benefits such as remote work, signing bonuses and demonstrating a culture of inclusiveness.
Long-lasting employee initiatives will be challenging for some leaders, but many employees won't return to work anytime soon until their cultures change.
The Tnk is an innovation consultancy built to save legacy businesses by implementing new and radical management styles.
Their approach is one of outsiders, where the teams consist of creatives, inventors and entrepreneurs-not just business people. They have helped numerous businesses depart their archaic ways throughout this pandemic, adapt to the new normal, and prepare for future disruption.
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Source: EIN Presswire