Chip Cutter

speaker

1,085 appearances 18 recordings 1 series first heard Aug 2019 last heard Sep 2024

Chip Cutter’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Employers Trying New Ways To Push Workers Back To The Office · 27 Apr 2023 podcast

What's changed?

Well, I think what's changed is that the labor market has changed.

A year ago, you weren't seeing lots of companies lay off workers or announce hiring freezes.

Right now, though, it feels like you can't go a single week without seeing another prominent employer saying that they're going to trim some of their staff or pay

pull back a bit on hiring.

And it's just been notable.

You used to hear executives on earnings calls just say how difficult it was to hire, how they were really struggling with retention.

And now they're talking all about efficiency and productivity and sort of trims that they might be making to save money.

And so workers have experienced this.

They realize they don't have as much power as they did earlier in the pandemic.

So I think some employees may not feel like they can push back as much on bosses when they do step up in office requirements.

But that's not to say all companies have given up on this.

A lot of companies have realized that flexibility is here to stay.

A number of CEOs have said that they do feel like just three days a week, two at home is fine.

But I think a number of bosses just trying to realize what works best for the cultures of these companies.

Are they noticing, for example, that early employees aren't adjusting to the culture, aren't sort of succeeding in ways that maybe more experienced employees are?

And so this is why some are changing policies.

But it's, I think, a different labor market right now.

And that's what's allowing some companies to make these changes.

Chip, is this a state of things to come?

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