This labor situation has two sides, on the one hand, technology giants making massive layoffs and on the other, companies struggling to retain their talent.
As well as The Home Depot surprised with investment to increase salaries, companies like Kering have made decisions such as creating vacancies to take care of the reputation of their campaigns.
Studies like Statista’s Global Consumer Survey show just how important employment is to consumers.
The Home Depot He announced that he will increase the salary of his employees with a fund of one billion dollars, about which the CEO of the company assured, that it is about attracting and retaining talent. In Mexico, it is expected that this Thursday new investment by the store in the country will be announced, without knowing until now which areas this capital investment will impact.
Inside of the “Statista’s Global Consumer Survey”a study which was conducted exclusively for subscribers of the platform, it realizes what worries consumers in the world in the midst of inflation that is experienced and after the cost of living, which is the main concern for 44 percent, the social security, as well as the economic situation are the second and third concern. Unemployment worries 33 percent and this insight helps us understand what is relevant in marketing, when it comes to the opportunity to take this matter and apply it to the human resources segment.
Increases at The Home Depot
The Home Depot will increase the salaries of its employees and has prepared a bag of 18 billion pesos (billion dollars) to carry out its plan in the face of the lack of talent that has been registered in the region, where restaurants and stores compete for employees, due to phenomena such as the social aid that the citizens of that country receive.
Regarding the measure that he announced The Home Depotthe brand recognizes that the increase will be valid for its stores in the United States and Canada and although the increase that will be seen in the checks of its employees has not been revealed, it is expected to start at $15 per hour.
The measure contrasts with what employees of the brand earn in Mexico, since information from Glassdoor shows that an associate on the sales floor has an average income of 80,788 pesos per year, that is, close to 7,000 pesos per month.
The labor phenomenon registered in the United States is important, because on the one hand we see that companies like Goldman Sachsone of the banking giants in that country, together with technological giants such as Google and Amazonhave carried out massive layoffs of more than three thousand, twelve thousand and 18 thousand employees, respectively, as was collected in a People Matters study.
On the other hand, we see how the restaurant and service industries are struggling to find talent to fill the vacancies they have, and the case of The Home Depot, increasing the salary of its employees, is an example of the policies they are implementing.
“This investment will help us attract and retain the best talent,” explained the CEO of The Home Depot, Ted Decker to your employees in an email.
as the decision of The Home Depot In order to increase the salary of their employees, there are companies that have stood out because they have made important adjustments in their labor policies, as happened in apparel, where we recently learned that Kering, the company that owns brands such as Gucci, announced the creation of a vacancy identified as “Brand Safety Boss”with which he announced new protocols to take care of what he communicates.
The adjustments in the labor market, the same laying off, increasing salaries in certain segments and creating special vacancies for being recently created help us understand the potential of talent management in the labor market.
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