Page 16 - BusinessWest July 25, 2022
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                  feels from her co-workers and bosses. “We’re continuing to see a lot of voice and a say in how things go, mak-
“She and her son got COVID early on in the pandemic, and she had to quarantine in a hotel because her mother and grandmother were living with her at the time,” he noted. “We had staff members bringing food to her, checking in, picking up medica- tions for her every day. She said that was a difference maker for her because the amount of care meant something. She felt like her son’s health mattered to us, and she said, ‘I’ve never felt that from other jobs.’”
Good management is another key, said those we spoke with, adding that this equates to giving employees a
people quitting their jobs and starting new ones. My sense is that, as the economy weakens and job growth slows down, that phenomena will also
slow down because employees now think, ‘I can quit this job and go to six different places.’
But if there are only two job openings opposed to the six,
”
ing sure they’re appropriately compen- sated, and making sure their benefits programs are up to date with what cur- rent job seekers are looking for.
Beyond these steps, many busi- nesses and industry groups are becom- ing far more proactive when it comes to creating larger pools of qualified workers. This includes work to part- ner with vocational schools and other institutions to create pipelines of talent — and keep a steady flow of potential employees in that pipeline.
“Employers really have to find a way of capturing and attracting the kind
of skilled workers they really need,” Geehern said. “For example, you will find manufacturing and engineering companies will establish a setup with Springfield Technical Community Col- lege, Holyoke Community College,
or UMass Amherst. Some of these
are training partnerships, some are research partnerships, but it allows them to establish some sort of con- nection with the institutions that are training the people that are going to be tomorrow’s workers.”
Hire Power
Moving forward, the overarching question concerns just how long this will remain an employees’ market. Much depends, economists say, on whether there is a recession and, if there is one, what impact it will have on the jobs market.
The monthly Business Confidence Index (BCI), initiated by AIM’s Board of Economic Advisors, noted that 76% of CEOs globally tell the Conference Board that they expect a recession by the end of 2023 or believe it’s already here. The economy appears to be growing, but employers face growing struggles with soaring fuel prices, sup- ply-chain disruptions, and financial- market volatility.
The BCI is based on a survey of AIM member companies across Massachu- setts, asking questions about current and prospective business conditions in the state and nation, as well as about respondents’ own operations. The index is based on a 100-point scale.
A reading above 50 indicates that the state’s employer community is pre- dominantly optimistic, while a reading below 50 points translates to a negative assessment of business conditions.
According to the BCI, business con- fidence fell 3.9 points to 50.8 in June. The index sits 12.6 points lower than
a year ago and marginally higher than the 50 mark that separates an optimis- tic from a pessimistic view. The Current Index, which assesses overall business conditions at the time of the survey, declined 3.3 points to 53.4. The Future Index, measuring projections for the economy six months from now, lost 4.6 points to 48.1.
The Wall Street Journal surveyed
Hiring
Continued on page 18
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