Staff retention in a tight labor market

2000 ◽  
Vol 11 (6) ◽  
pp. 55-58
Author(s):  
Phillip M. Perry
Keyword(s):  
Labor Market ◽  
Staff Retention ◽  
Tight Labor Market

Winning the War for Talent: Modern Motivational Methods for Attracting and Retaining Employees

2017 ◽  
Vol 49 (4) ◽  
pp. 230-246 ◽  
Author(s):  
Anaïs Thibault Landry ◽  
Allan Schweyer ◽  
Ashley Whillans
Keyword(s):  
Labor Market ◽  
Organizational Commitment ◽  
Intrinsic Motivation ◽  
Current Literature ◽  
Psychological Needs ◽  
Design And Implementation ◽  
Relevant Evidence ◽  
Optimal Functioning ◽  
Tight Labor Market ◽  
War For Talent

Given the struggle that many organizations face hiring and retaining talent in today’s tight labor market, it is critical to understand how to effectively reward employees. To address this question, we review relevant evidence that explains the importance of workplace rewards and recognition. Based on a review and synthesis of the current literature, we make the case that organizations should move beyond salary and traditional cash rewards to place greater emphasis on nonpecuniary, tangible and intangible rewards and recognition initiatives. We further highlight the importance of aligning rewards with universal psychological needs. Finally, we discuss the need to conduct more research to understand when and for whom cash and noncash rewards increase intrinsic motivation, organizational commitment and optimal functioning in order to improve the design and implementation of existing reward programs.

SOCIO-ECONOMIC DEVELOPMENT OF TERRITORIES WITH A TIGHT LABOUR MARKET SITUATION IN THE REPUBLIC OF BELARUS (CASE STUDY OF MINSK REGION)

2021 ◽  
Vol 1 (64) ◽  
pp. 89-95
Author(s):  
Anastasiya G. Bobrova ◽  
Keyword(s):  
Labor Market ◽  
Socioeconomic Development ◽  
Supply And Demand ◽  
Labour Market Situation ◽  
Development Indicators ◽  
Socio Economic Development ◽  
Market Situation ◽  
The Republic ◽  
Tight Labor Market

The article presents an analysis of the development indicators of the districts with a tight labor market situation in the Republic of Belarus. It considers the vacancies and resumes in these districts placed in the All-Republican bank of vacancies, Praca. by and rabota.by portals. The main mismatches between supply and demand at the labor market as one of the obstacles to socioeconomic development in the regions have been revealed.

scholarly journals Mutual effect of labour market development and COVID-19 pandemic progression

2021 ◽  
Vol 83 (1) ◽  
pp. 421-428
Author(s):  
N. V. Shishkina ◽  
E. A. Mamistova ◽  
T. V. Sabetova
Keyword(s):  
Labor Market ◽  
Negative Impact ◽  
Mutual Effect ◽  
The State ◽  
Social Consequence ◽  
Staff Retention ◽  
Current Events ◽  
The Moment ◽  
High Level ◽  
The Impact

This paper tackles the economic impacts of COVID-19 pandemic on the labor markets and human capital. Specifically, it looks into the issues the pandemic brought upon the human resources and personnel during coronavirus lockdowns. The high level of globalization characteristic of the modern economy has only exacerbated the negative impact of the pandemic. At the moment, it remains impossible to assess the qualitative and quantitative parameters of the damage caused to the economies of countries and regions by this event. However, it is possible to identify the main directions of analysis of the consequences of the pandemic, including in terms of the impact on the state of the labor market, which was the main goal of this study. In particular, the authors highlight a number of consequences, the work on overcoming which is still to be done by the Russian socio-economic system. The most obvious of them is the growth of unemployment, the release of part of the employed and the reduction in the number of jobs, and this is observed extremely unevenly across the sectors of the economy. Nevertheless, the authors point out that the problem of staff release is aggravated by the size of the share of informal employment in the labor market, especially in the sectors of public catering, leisure and tourism that have been most affected by the pandemic. As the second important problem, the authors point to ineffective staff reduction, the dismissal of useful and valuable employees of some organizations while maintaining an unnecessarily bloated staff of others. It also mentions the reasons and forms of staff retention, some of which, being either forced or economically and technologically attractive, give rise to additional problems. The authors call an important social consequence of the pandemic a reduction in the number and level of personal contacts in society, in particular, in working groups. As a result, the author's vision of the long-term consequences of current events for the state of the labor market, employment of the population and the economy as a whole is proposed.)

scholarly journals Wage Growth Puzzle and Capacity Utilization

2019 ◽  
Vol 6 (2) ◽  
pp. 15
Author(s):  
Arto Kovanen
Keyword(s):  
Labor Market ◽  
Capacity Utilization ◽  
Wage Growth ◽  
The United States ◽  
Policy Formulation ◽  
Strategic Decision ◽  
Output Gap ◽  
Price Inflation ◽  
Recent Trends ◽  
Tight Labor Market

Wage growth and consumer price inflation in the United States remain weak, despite robust labor market and a healthy economy. This has been a conundrum for policymakers and economists alike, albeit it is not without parallels. In this paper, we analyze recent trends in the labor market. We point out that a number of indicators are providing mixed signals about the tight labor market, including wage growth that has remained muted, vacancy duration rates that have stayed remarkable stable in certain sectors, and the rate of capacity utilization, which is cyclically low and out of sync with other measures of resource utilization (e.g., output gap and unemployment rate). This leads us to conclude that there could be other forces that explain these phenomena. In this paper, we focus on capacity utilization and contend that low capacity utilization rates are the outcome of strategic decision-making by corporations, rather than inefficient demand, which permits firms to manage their resources more effectively. It seems to be particularly important when economic and policy uncertainties are elevated, such as in the post-financial crisis environment. More flexible use of capacity has implications not only for the labor market, but also for investments. Understanding capacity utilization would contribute to monetary policy formulation when the signal coming from the rate of capacity utilization is not consistent with those coming from the labor market and the output gap. This points to the need to continue monitor a broad range of indicators to avoid potential policy errors.

scholarly journals Republic of Estonia

2020 ◽  
Vol 20 (12) ◽  
Author(s):  
Keyword(s):  
Labor Market ◽  
Labor Supply ◽  
Euro Area ◽  
Structural Reforms ◽  
Medium Term ◽  
Demographic Challenges ◽  
Convergence Process ◽  
Near Term ◽  
Tight Labor Market ◽  
Skill Shortages

Th economy has performed well in recent years, supported by prudent management and effective structural reforms. Growth remains strong and unemployment is at a record low. Inflation is above the euro-area average, consistent with Estonia’s convergence process. Wages are rising, reflecting a tight labor market and skill shortages at the high end of the labor market. Absent reforms to boost productivity and manage demographic challenges, however, growth will slow notably. The authorities need to guard against potential overheating in the near term while taking advantage of sizable fiscal buffers in the medium term to support innovation and labor supply and reduce inequality.

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