{"id":274285,"date":"2022-10-24T16:40:33","date_gmt":"2022-10-24T20:40:33","guid":{"rendered":"https:\/\/chiefexecutive.net\/?p=274285"},"modified":"2022-11-02T20:49:11","modified_gmt":"2022-11-03T00:49:11","slug":"10-ways-to-get-some-labor-leverage","status":"publish","type":"post","link":"https:\/\/chiefexecutive.net\/10-ways-to-get-some-labor-leverage\/","title":{"rendered":"10 Ways To Get Labor Leverage"},"content":{"rendered":"<p>After three years of coping with a poor hand in a labor-squeezed economy, which followed a decade of gradually deteriorating leverage, companies are seeing that this year\u2019s slowdown may have nudged the pendulum back in their direction. But CEOs expecting a quick rebalancing of the relationship between labor and management are likely to be disappointed, according to a special report for <em>Chief Executive<\/em>, <a href=\"https:\/\/chiefexecutive.net\/leading-through-the-labor-bubble\/\">&#8220;Leading the Labor Bubble,&#8221;<\/a> which finds that the newly empowered American employee likely will remain the newly empowered American employee for some time, even if there is a slowdown in the U.S. economy.<\/p>\n<p>But that doesn&#8217;t mean employers have no hand at all. Below are ideas for CEOs to navigate an empowered workforce and a simultaneous slowdown in the economy:<\/p>\n<p><strong>Watch for more shifting.<\/strong> The Great Resignation is waning, but the changes aren\u2019t over. \u201cPeople who switched jobs for monetary reasons are starting to say, \u2018Did I make the right choice for my life, and is this job aligned with my values?\u2019\u201d says Tom Barry, managing partner of GHJ in Los Angeles. \u201cPeople are making more critical assessments of their long-term commitments.\u201d<\/p>\n<p><strong>Score productivity.<\/strong> Digitization has meant greater ability to track productivity; eight of the 10 largest private U.S. employers do so, according to The New York Times. They even include Amazon and others that are unionized or where unions are nibbling. At the same time, some workers are revolting at Big Brother\u2013style monitoring.<\/p>\n<p><strong>Project concern.<\/strong> \u201cThere\u2019s a desire for people to feel like leadership can see them, understand them and are concerned about them and their pains,\u201d says Jeff Jolton of Kincentric. Failing on that front may prompt workers to seek a place where they will be recognized.<\/p>\n<p><strong>Display empathy.<\/strong> \u201cThat creates the kind of workplace that employees can be loyal to today,\u201d says employment attorney Claire Deason. \u201cAssume no one is going to work for you just because they have to or because they feel like they owe you something, and instead think, \u2018Would I want to work for me?\u2019\u201d<\/p>\n<p><strong>Replace labor smartly.<\/strong> \u201cOur clients are looking more at labor augmentation and replacement technology as they grapple with challenges on the labor front,\u201d says Matt Armanino, CEO of Armanino, an accounting firm based in San Ramon, California.<\/p>\n<p><strong>Look in new places.<\/strong> Salt Lake City\u2013based Teem partners with Brigham Young University Pathways to contract college-educated students who live in Argentina, Brazil and other countries. They\u2019re top earners in their home countries, but these knowledge workers cost employers only one-third to one-half of their American counterparts \u201cwhile bringing diversity of thought,\u201d says Teem CEO Cory Pinegar.<\/p>\n<p><strong>Use generosity.<\/strong> Medical-equipment maker Medtronic just agreed to pay all undergraduate college tuition costs for employees in the U.S. and Puerto Rico. More than 1,100 of its 44,000 staffers expressed interest.<\/p>\n<p><strong>Consider spot bonuses.<\/strong> \u201cWe prefer to reward people in the moment,\u201d says Antonella Pisani, CEO of Eyeful Media, a digital-marketing outfit in Dallas. \u201cI think it\u2019s more meaningful. People feel we actually care about them as a human and about their good work, versus an annual cycle where it feels like you\u2019re going through the motions.\u201d<\/p>\n<p><strong>Go back to the basics.<\/strong> Reignite manager training, mentorship programs and positive feedback, which were mostly lost during the pandemic. \u201cThey go a long way toward building a new version of loyalty,\u201d Deason says. \u201cYou want folks to wake up in the morning and at least feel okay about going to work, and there\u2019s no substitute for positive feedback.\u201d<\/p>\n<p><strong>Give voice to workers.<\/strong> Create worker councils and even put employees on boards. \u201cThat\u2019s a way to have workers ask questions about issues and raise concerns,\u201d says MIT labor professor Tom Kochan. \u201cIf workers feel employers are responsive over time, that reduces the incentive to organize. But if workers don\u2019t feel they\u2019re adequate, history shows they increase in stronger forms and lead to unionization or some other mechanism.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After three years of coping with a poor hand in a labor-squeezed economy, which followed a decade of gradually deteriorating leverage, companies are seeing that this year\u2019s slowdown may have nudged the pendulum back in their direction. But CEOs expecting a quick rebalancing of the relationship between labor and management are likely to be disappointed, [&hellip;]<\/p>\n","protected":false},"author":51,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_oasis_is_in_workflow":0,"_oasis_original":0,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[2199,879,2130],"tags":[],"class_list":["post-274285","post","type-post","status-publish","format-standard","hentry","category-compensation","category-strategy-2","category-talentmanagement"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>10 Ways To Get Labor Leverage<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/chiefexecutive.net\/10-ways-to-get-some-labor-leverage\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"10 Ways To Get Labor Leverage\" \/>\n<meta property=\"og:description\" content=\"After three years of coping with a poor hand in a labor-squeezed economy, which followed a decade of gradually deteriorating leverage, companies are seeing that this year\u2019s slowdown may have nudged the pendulum back in their direction. 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