There is a shift in power from Employers to Employees
In early 2020, employees were sent home by employers. What followed will set the tone for the next decade - if not longer. Essential workers were important until they weren't any longer, office workers, who had increased productivity at home, were asked to return to the office, and medical personnel working long hours, with virtually no time off, have about had their fill of upset and angry patients.
You don't need your office staff to return five days a week.
For years there have been more jobs than candidates and wages stood still for most. Employers had their pick of candidates and employees were made to feel "blessed" and "lucky" to land a job. Now that this is shifting to be in the employees favor, business are struggling to keep up.
Businesses have to adapt or lose out on potential star candidates.
When candidates were plentiful, and hundreds of applications were received for each job listing, a business could pick a handful of great applications and interview a few lucky people, then choose an amazing candidate. Now, candidates are harder to come buy and businesses have limited choice.
Keeping the employees already on-staff is extremely important to keeping costs down but businesses also have to keep in mind that if they fail to adapt to changing the changing environment, they will eventually lose those employees for other, more appealing opportunities.
Staying Competitive
Businesses will have to research their competition and raise salaries to match and provide increased benefits. Employees will go where they are most comfortable, better paid, and treated well. If a business treats their employees without respect, without understanding the role the employee plays in the business, the community, and the industry - that business will struggle.