Who Has More Leverage in The Marketplace: Employer or Employee? with Peter Cappelli

Renowned academic and author, professor, and director of the Center for Human Resources at the Wharton School of the University of Pennsylvania, Peter Cappelli, is here to share his expertise in human resources practices, employment policy, and talent management. Peter will discuss the post-COVID Return to work, return to the office, hybrid, remote narrative dynamic occurring and how it has changed over the past three or four years. We will also hear about globalization's effect on unskilled workers and why providing educational opportunities is essential for children to take advantage of technological advances.  Tune in to gain an understanding of these important topics! [00:00 - 09:02] Employers and Employees in the Post-COVID WorkplaceEmployees were grateful to work from home, while employers were grateful that their companies could stay afloatEmployers need to demonstrate why it's vital for employees to come back to the officeEmployers still have more power than employees, but an employment relationship should not be based on power [09:03 - 18:43] Exploring the Impact of Managerial Training on Employee Retention58% of employees said they would quit to take a job next door for the same rate of payFear is a short-term motivator but not a long-term relationship builderThe single biggest factor that holds people to organizations is social ties [18:44 - 30:56] The Impact of A.I. on the U.S. Labor ForceHiring is a hugely expensive thing, with estimates of administrative costs being 4,000 and external hires costing 20-30% more than internal employeesThe issue is not demographics but productivity growth - the U.S. economy is 4x bigger than in WWII despite the population only doublingData science has the potential to increase productivity but requires a lot of data and time to build models [30:57 - 38:18] The Impact of Automation on the EconomyChatGPT can take over categories of white-collar tasks, like writing simple responses and gathering informationThe gap between high-income earners and everyone else will likely increase due to a lack of opportunity for those without access to technology [38:19 - 39:27] Closing Segment Connect with Peter! LinkedIn: https://www.linkedin.com/in/peter-cappelli-14936a3  Connect with me on LinkedIn! LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in, and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.