Page 21 - BusinessWest January 10, 2022

OUTLOOK 2022/THE REGION >>
It’s too early to tell, but at present, there are few signs of real progress, said Senecal, who related a recent experience at the bank that speaks volumes about how deep and widespread the problem is.
“We had an open, entry-level position a few months ago that 16 people applied for; 16 people set up an interview, and 16 people didn’t show up the interview,” he recalled. “No phone call, no nothing.”
As alarming as that is, what’s perhaps more disconcerting is a lack of solid answers for what is behind this and similar episodes being record- ed at businesses across the region.
“I don’t know what that says,” Senecal said, with a note of exasperation in his voice. “This was a few months ago, after the unemployment benefits ran out. I don’t understand that phe- nomenon and why it’s happening now.”
Sullivan concurred, and said that what the past few months have clearly shown is that the problem is much deeper than unemployment
benefits and also rests with issues such as child- care, elder care, and the retirement of many in the Baby Boom generation.
“Every business has the help-wanted sign out, and you’ve seen things like sign-on bonuses and higher wages, which I think is a healthy thing
for the economy,” he told BusinessWest. “Our employers have had to get a little more creative with incentives to keep the employees they have, and they’ve had to do things to bring new workers in. It’s not a regional problem, but a national one,
and it’s one we’re going to have to come to grips with in 2022.”
Meanwhile, there are other challenges the region must contend with in the weeks, months, and quarters to come.
“
get a little more creative with incentives to keep the employees they have, and they’ve had to do things to bring new workers in. It’s not a regional problem, but a national one, and it’s one we’re going to have to come to grips with in 2022.
“Supply chain and inflation are the two biggest economic dampers, both nationally and region- ally,” Senecal said. “Core inflation is up 6%, gas is up 33%, cars are up 12% ... when you talk infla- tion, it’s not the 6%, it’s the things outside the core
Region
Continued on page 50
Our employers have had to
Tom Senecal says COVID is going to be the impactful event of early 2022, and might continue to alter the way business is done.
many types of businesses from realizing their full potential as the economy roared back to life in last spring and summer as COVID restrictions were lifted.
Thus, perhaps the biggest question hanging over 2022, beyond COVID, of course, is whether there will be any improvement on the labor front.
”
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JANUARY 10, 2022 21
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