The Josh Bersin Company

Celebrating Labor Day! Lots To Be Happy About, Lots To Consider. E181

Aug 30, 2024

Explore the evolving significance of Labor Day and its connection to today's workforce. Discover how automation is reshaping labor roles and the rising demand for skilled workers. Learn about the revival of unions advocating for fair pay and the importance of workers' rights. The podcast dives into the impact of income inequality and stresses the essential role of HR in supporting employees. It's a timely reflection on recognizing every individual's value in the workforce and the investments needed to enhance their contributions.

19:43

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Quick takeaways

Automation and technological advancements are reshaping the labor landscape, necessitating a shift in workforce strategies to enhance employee value and engagement.

The resurgence of unionization underscores the vital role of employee advocacy in promoting fair wages and improving working conditions in an increasingly unequal economy.

Deep dives

The Importance of Labor in Economic Growth

Labor plays a crucial role in the economic growth and productivity of nations, as evidenced by the recent 3% GDP growth in the United States. Factors such as automation and technological advancements have significantly contributed to rising revenue per worker across various countries, enhancing the overall value generated from labor. Despite inflation concerns, wages are generally increasing, driven by a growing demand for skilled labor amid a global skills shortage. This highlights the ongoing transformation of the labor landscape, where the need for effective labor management becomes increasingly vital.

Intro

4min

Navigating the Changing Labor Market Landscape

5min

The Evolving Perspective on Labor and Compensation

7min

Embracing Labor: Recognizing Value in Every Employee

3min

In this podcast I discuss the ever-changing role of Labor in our economy, our companies, and our own personal lives. The word “labor” is really an old-fashioned idea, but we still have the US holiday, so I wanted to unpack what it now means.

As you’ll learn Labor Day is a time to think about hiring, pay, development, and diversity as well as productivity, labor unions, the impact of tips and income inequality, and the enormous role of HR as an ombudsman between “labor” and “management.” And yes, AI is going to force us to think deeper about what “people” do in our companies.

Remember that we’re all “labor” and every employee is a human being. So while US Labor Day was originally a way to celebrate unions and organized labor, let’s also think broader about all the value-based investments we make in every person in our companies.

Keywords:

Labor Day, labor movement, workers, economy, automation, technology, labor shortage, skills shortage, investment in employees, unions, fair pay, benefits, working conditions, income inequality, HR professionals, Boeing, Starbucks, employee activation

Chapters:

00:00 The Importance of Workers in the Economy 02:11 Automation and the Changing Labor Force 04:07 Investing in Employees to Attract and Retain Talent 14:37 The Role of Unions in Advocating for Fairness 17:48 Addressing Income Inequality 20:08 The Role of HR in Supporting Employees

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