Theyre leaving. Theyre heading out the doors in record numbers.
In September alone, 4.4 million workers handed in resignations. Analysts believe millions more are planning, plotting and virtually lining up behind them.
Employers are hitting a crossroads. They often do in many industries, but this time its as much across the board as ever for this generation. The shift in power is going toward workers, and this without benefit of a union.
If employers are not smart enough to invest in their No. 1 asset people then they shall get what they deserve.
In the case of many, thats no business at all.
Competition is up for the best workers. Weve all seen the signs everywhere for one, that a company is hiring; and for two, that a company is hiring and offering a signing bonus.
Bladen County commissioners many times have advocated for their workers. They tried diligently in the summer of 2020 to find a balance between rewarding them and keeping a close eye on what might happen with finances because of the pandemic. It was the early months of coronavirus, and nobody knew.
Now there is a sample size.
Those workers got 5 percent raises this time around. In addition to that, nice incentive programs like achievable bonuses and longevity pay have stayed in place. The result is 405 checks for more than $67,000 in bonus money, and 191 checks for more than $211,000 in longevity.
Think about it: A rural county, which is among the poorest as Tier 1, had a 15.9 percent drop in population to 29,606 over its 874 square miles, and still struggles to have adequate high-speed internet coverage for its school children.
Yet, it invested. To the tune of more than a quarter-million dollars.
Take Bladen Community College. Yet another example of an entity, in this case educational, that has limited funds coming in and a lot of answering to do when it decides to spend a nickel. Every nickel, in fact.
The college did have some discretion with money in a fund, and opted to reward its workers. Yes, most of those working on the campus in Dublin were going to get a 2.5 percent raise from the state retroactive to July 1, and theyre due for another 2.5 percent come July 1 next summer. Plus bonuses from the state, pending which side of $75,000 annual salary they are on.
The college had $61,937. It spent $61,898.75. Thats called doing all you can for your workers, right on down to the last 39 bucks.
Employers, in many cases, are between a rock and a hard place. Theyll tell you about the significant increases in fixed costs, the rising inflation they face, and the troubles in the supply chain.
Workers can tell you about that, too. About making choices this fall and winter on heat, medicine and food when all of those things go up but their paycheck does not.
It leads to other choices.
Those 4.4 million workers turning in September notices were real. Trust us, the smart among the surviving employers have taken note and are investing wisely.
For the businesses, its life or death.
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Editorial: Life or death, and the wise are investing in employees - Elizabethtown Bladen Journal
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