The Great Pay Reset

In today's episode: There's unprecedented wage deflation across America; job-seekers are taking jobs for tens of thousands less than just a few months ago. Hiring managers are taking advantage of a tight job market to post jobs for lower wages. After COVID, companies overspent on labor; now, employees are getting fired as a cost-cutting measure. The market now likes seeing layoffs; they're considered a sign of profit-taking instead of weakness. This episode discusses a new piece in The Wall Street Journal: Bosses Want to Reset Worker Pay. They’re Quietly Finding Ways to Do It. - WSJ Culture Leaders Daily is a daily, five-minute podcast for CEOs where we dissect the week's biggest news, unpack hot-button workplace trends, and bring you exclusive interviews with leaders who leverage culture to drive real business results. John Frehse, Global Head of Labor Strategies at Ankura, joins Jessica every week to discuss the latest news in labor, employment, and workplace culture by asking each other the question: 'What Are You Paying Attention To Now?' John Frehse: LinkedIn: https://www.linkedin.com/in/johnfrehse/ Bio at Ankura: https://ankura.com/experts-and-advisors/john-frehse Jessica Kriegel: Website: https://www.jessicakriegel.com/ LinkedIn - https://www.linkedin.com/in/jessicakriegel Instagram: https://www.instagram.com/jess_kriegel/ Culture Partners: Website: https://culturepartners.com/ LinkedIn: https://www.linkedin.com/company/culturepartners/