NOTEBOOK – ONE GOOD READ: Strategy of paying OT is only contributing to the labor shortage
MICHAEL CRUMB Sep 20, 2021 | 4:06 pm
1 min read time127 wordsBusiness Record Insider, HR & Education, The Insider Notebook
We continue to read about the labor shortage facing employers as the economy continues its climb out of the pandemic, but that recovery is becoming more challenging as companies try to figure out how to get the job done without enough workers. In this article, the Wall Street Journal explores how some companies are resorting to overtime to keep their operations running, but how that may actually be exacerbating the labor shortage and leading to a wave of resignations nationwide. “People won’t put up with it indefinitely,” said Nicholas Bloom, an economist at Stanford University who is studying COVID-19’s effects on the U.S. economy. The unintended consequences of overtime are one of many factors making it difficult to match employers with potential employees as the economy reopens.