Workers are in the driver's seat in the labor market, and that doesn't look likely to change anytime soon. It's also starting to alter the competitive landscape across the business world.
Workers are in the driver's seat in the labor market, and that doesn't look likely to change anytime soon. It's also starting to alter the competitive landscape across the business world.The terms of competition are shifting, especially in labor-intensive industries. Companies that have some distinct advantage in their ability to attract the best workers are likely to fare better.It's not enough to have a great product.
UPS, with a unionized workforce and higher pay, has reaped an advantage from loyal, long-term employees on its payroll. "I think companies are realizing that now, and the question is how they get there, from where they are," he says. Bigger companies are definitely at an advantage because they have the budget capacity to absorb higher salaries and wages.
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