The Great Resignation has had some companies scrambling for workers by improving benefits and dangling enticing incentives to return. However, weakened unions and poor working conditions in some industries suggest that bosses still hold the power, The New York Times reported Nov. 3.
More than 4 million workers quit their jobs in August, making it an all time high for staff turnover. In an attempt to bring employees back to work, more employers are offering better benefits, with the number of employers offering retirement plans up 30 percent on ZipRecruiter. Some economists have termed this period the "workers economy" given that there are now 50 percent more jobs available than there were pre-pandemic, according to the Times.
However, workers still recognize that employers have the most leverage, as they are in possession of the jobs. There have been several high-profile cases at companies like Apple and Google in which employees claim they were terminated for organizing too loudly and being vocal with their activism. Under 11 percent of U.S. workers are represented by unions.
"There's a lot of momentum right now, but there are some very serious obstacles toward workers actually acquiring sustained levels of power," Heidi Shierholz, PhD, president of the Economic Policy Institute, told the Times. "Employers are trying on for size this idea that the pandemic has been hard on everyone. But we absolutely know that employers hold the cards."
Workers have made some improvements recently, with remote and flexible work becoming a much more common option. Time will tell where the cards will fall as employers become more desperate for staff to plug shortages.