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We're in a pandemic economy. It's an economic upheaval. Many existing employees provide negative value until businesses adjust. If they want to survive, adjust
by wegs 6y ago
We're in a pandemic economy. It's an economic upheaval. Many existing employees provide negative value until businesses adjust.
If they want to survive, adjust they must.
Whichever model we take (lockdown, soft lockdown, no lockdown, or something else entirely), our goal should be to structure economic supports to allow for that restructuring as quick, painless, and job-loss-free as possible. If we don't do that, things will play out exactly as you describe, with a painful adjustment period. If we do that, they can play out better.
But play out they will. Businesses can't force people to stay. If the cost for me to pick an in-person job over an at-home one is $10,000, I'll quit my remote one as soon as I get a job offer $10,000 above my current salary. Businesses can't force me to stay. And vice-versa the other way. That's a free market. And the increased unemployment benefits right now provide some buffer to make those changes.