In commenting about the COVID 19 return of workers- Joseph Briggs, an economist at Goldman Sachs (GS), noted in a report to clients in December 2020 that “Young workers’ participation in the labor force has nearly fully recovered – likely reflecting both lower health risks from the virus and a decline in college enrollment – while the participation of older workers and women has recovered more slowly,” He estimates that there were some 830,000 “excess retirees” in October 2020, which represents about a quarter of the difference between the pre-pandemic workforce and the current workforce.
Did you know that having a great Brand image helps in reducing hiring recruitment costs? There is no doubt that it is a highly competitive talent market. Local companies must always work to improve their “Employer Brand” Businesses with excellent employer brands receive 50% more qualified applicants. A local
company’s reputation and popularity as an employer of choice mainly comprises that employer brand. Another key element in the strength of the employer brand is the company Employee Value Proposition or EVP! In the Chippewa Valley some of the top EVPs are 1. inspiring purpose, 2. respect for people, and 3. Team-oriented work.