Inflation has hit us all these last few months—there’s no denying it.
From an increase in gas prices to groceries and goods and services, the inflationary pressures that workers and businesses are feeling are extremely real.
If we are to be successful in the coming months and years, we must face inflation head on and adjust our business models and finances so we can stay afloat for the future.
- The Skillwork Forum’s latest episode brings you a conversation about inflation that every business leader needs to have.
Let’s get this conversation out in the open and work to keep our skilled workers on the job and America moving in the right direction.
Main Takeaways:
- Inflation is affecting wages and skilled workers’ buying power
- Business leaders need to prepare for how inflation will impact their bottom line
- Don’t allow inflation take your attention from the labor gap with the Baby Boomer Exodus
- Be careful how you leverage inflation as to not overwork your skilled workers
Timecodes:
- 00:00-06:17 | Inflation is here and business leaders must prepare themselves for the future
- 06:17-14:02 | Learn how inflation will affect your business and workers
- 14:02-17:45 | Your business profitability is at stake if you don’t leverage inflation today
- 17:45-26:47 | Economic chaos may come but God is in control and in Him we trust
Quotes:
- “We’ve got a situation where you see inflation creep up, wages creep up, and it ultimately affects the cost of food and gas for your workers.” – Brett Elliott, CEO at Skillwork
- “The Baby Boomer exodus mixed with the thinning labor pool is now heightened with inflationary pressures.” – Brett Elliott, CEO at Skillwork
- “Resist the temptation to lower wages to try and control your costs because it will negatively impact your workforce.” – Tim Raglin, COO at Skillwork
- “The economy matters. Uncertainty drives pessimism and pessimism affects people’s attitudes on the job.” – Tim Raglin, COO at Skillwork
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