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EEN Session: Increasing Compensation Costs and the Great Resignation
December 1, 2021 at 8:00 am - 9:45 am PST
Increasing Compensation Costs and the Great Resignation
Session Leader: Alec Levenson
Wednesday December 1
4:00pm – 5:45pm GMT / 11:00am – 12:45pm ET / 8:00am – 9:45am PT
The business news headlines in 2021 have been dominated by the continued impacts of Covid-19 on supply chains and back-to-work plans. Two emerging labor market trends pose particular challenges for long range business and workforce planning: rapidly increasing compensation costs, and record-high quit rates.
This session will review these recent developments in the market for talent from both a historical and current-day perspective:
- Are we returning to a period of sustained wage inflation, or is this a more temporary adjustment in labor costs? How should we be optimizing our recruiting and staffing models for now and longer term?
- Why are people quitting? Do we know? And does it matter, in terms of how we should be responding?
- If wages are going to keep rising, does that tip the scales in favor of more and faster automation of tasks and jobs? Where does this kind of strategy make sense?
Alec R. Levenson, Ph.D.
CEO Senior Research Scientist