Worker Shortage: Where Did 5 Million Workers Go?

2. Immigration Has Plummeted

3. Service Sector Wages Are Rising

  • Increased labor costs can be offset by the reduction in turnover and talent acquisition costs
  • Workers are more loyal, more engaged, and provide better customer service
  • Communities rally behind local businesses that do right by their employees
  • Workers who make a living wage with a single full-time job are likely to quit working multiple jobs to make ends meet

4. Direct and Indirect Impacts of Covid-19

Final Thoughts

  • Investing in knowledge transfer solutions or creating part-time roles for retirees
  • Creating more remote positions or partnering with global staffing firms to re-engage foreign workers
  • Automating customer journeys or finding innovative efficiencies to mitigate against the stiff competition for service sector workers
  • Revamping hiring processes and re-training hiring managers to guard against ableism in employee selection, evaluation, and promotions
  • Investing in our existing employees to reduce turnover before it happens

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