Human Capital Briefs

Three new reports suggest that labor shortages are becoming more extreme, having material implications for labor market recovery and short-term inflation prospects.

Commentary on today’s U.S. Bureau of Labor Statistics Employment Situation Report by Frank Steemers, Senior Economist, The Conference Board

More than a year into the pandemic, hope is finally on the horizon, with nearly half of the United States population having received at least one vaccine dose. And while this has prompted conversations about the “new normal,” many workers remain skeptical and worried.

Despite still-elevated unemployment rates, and 8.2 million persons waiting to be added to payrolls, labor shortages are back. As large segments of the economy continue to open at the same time, and labor supply is constrained, these shortages are likely to remain for the better part of 2021.

The number of jobs in in-person services is still well below prepandemic levels, but the recovery is underway

At the outset of the pandemic, employees were the top priority of boards, second only to continued liquidity. That focus intensified during the social unrest following the death of George Floyd. Now, the SEC’s new disclosure rules on human capital management (HCM) could further reinforce the focus on workers — at least temporarily.

One of the biggest criticisms of Agile methodology is that it is very difficult to transfer from a project team environment to teams engaged in “business as usual” (BAU). In the latter, there is no definable end to the process. Instead of experimenting and making continuous improvements, in pursuit of frequently changing priorities, stable team environments seek to optimise and achieve consistency in workflow and other processes against long-term, relatively stable goals and priorities.