This Week's Herman Trend Alert

Nail-Painting Robot Coming
to a Salon Near You

 

  The Herman Trend Alert

April 7, 1999

Major Wage Inflation Won't Happen

269 days until January 1, 1999

With the widespread labor shortage, there has been a lot of talk about an inflationary push on wages. Based on the familiar supply-and-demand curves, too few workers to fill all the vacant positions should cause a competitive increase in wages.

The increases have been seen, but they're moderate. Employers, highly sensitive to profit pressures, are using alternative methods to attract and hold the people they need. In the financial area, signing bonuses, retention bonuses, and performance bonuses are becoming more popular. Stock options are used increasingly—they're "sexy" and they emphasize all-important shareholder value.

Incentives of all sorts are finding their way through the employee ranks. They're not limited to salespeople anymore. Everyone whose job can be measured—individually or as a group—can be incentivized. Profit-sharing plans, stronger insurance programs, 401(k) plans, and similar rewards are being used to sweeten the pot. Managers are even being given incentives for their employee retention levels.

Employers are developing alternative "compensation" methods. They're recognizing that today's employees are looking for more than just money. Family centeredness, educational opportunities, meaningful work, flexible hours, increased responsibilities, childcare, time off, and other values are getting more attention.

Many employers can't pass through the cost increases of increased wages. Today's environment is too competitive. Instead, employers must find ways to become more efficient and cost-effective. They must train their managers and supervisors to be more people-conscious to build their levels of employee retention to reach workforce stability.

Bottom line, astute employers will seek ways to generate solid profits using fewer people with greater longevity. Those people will be well-compensated, but their packages will include much more than money. The drive will be to keep costs under tight control.


© Copyright 1998- by The Herman Group, Inc. -- reproduction for publication is encouraged, with the following attribution: From "The Herman Trend Alert," by Joyce Gioia, Strategic Business Futurist. 1.336.210.3548 or https://hermangroup.com. To sign up, visit https://HermanTrendAlert.com. The Herman Trend Alert is a trademark of The Herman Group, Inc."

HEAR JOYCE SPEAK TOMORROW AT 11:30 AM EDT
Tomorrow morning, Joyce will be a Fireside Chat Speakers at the Brightside Business Women Empowerment Virtual Conference where she will talk about how business women can use the insights from her new, groundbreaking book, EXPERIENCE RULES, to be successful. Register for FREE at https://brightsideglobaltrade.org/women.

GET COACHING FOR YOUR PEOPLE FOR LESS THAN $1/DAY!
Gain access to dozens of coaches for the same low price. Find out more by visiting https://ingomu.com/joyceg

JOYCE IS ON THE RADIO EVERYDAY NOW
To listen to Joyce's TV shows on the radio, simply visit RadioFutures.com. Joyce's show is streaming every day at 3:00PM Pacific Time.

To read this Herman Trend Alert on the web: https://hermangroup.com/alert/archive_3-29-2023.html.


Herman Trend Alerts are produced by the Herman Group, strategic business futurists, Certified Management Consultants, authors, and professional speakers.

New subscribers are always welcome. There is no charge for this public service. The Herman Trend Alert is read by over 30,000 people in 90 countries, including other websites and printed periodicals. Click here to sign up for the Herman Trend Alert.

Do you enjoy receiving this weekly e-mail update? Contact us about our co-branded Herman Trend Alert service.


Subscribe or Unsubscribe to weekly Herman Trend Alert
View this week's Herman Trend Alert
Archived Weekly Herman Trend Alerts

                                                                                                                                                                                                                                                                                                                                                                         


[ Home · About · Products · Resources · Media ]

 

7112 Viridian Lane
Austin, TX 78739
Voice: 336-210-3548
Toll Free in US & Canada: 800-227-3566
E-mail: info@hermangroup.com


  © The Herman Group. All rights reserved.

Web site design by WebEditor Design Services, Inc.