Ceos of America's biggest companies are worried: "Never seen anything like this"
At a time when most Americans, especially the younger generation, are rethinking their work-life relationship, executives at major U.S. companies are worried about the growing popularity of "lie-flat employment."
Lying Flat is the opposite of Involution, which appears in different forms.
One is to lie down completely, dubbed "The Great Resignation." According to media reports, more than 24 million workers have quit their jobs in the United States since April.
On the other hand, there's the popular "quite quitting employment," showing the spirit of workers who help so many things with so much money.
Benjamin Granger, chief workplace psychologist at research firm Qualtrics, was quoted as saying that executives at large U.S. companies in the financial, technology and healthcare sectors were worried and saying "I've never seen this before" as the so-called "flattening tide" flooded the Internet and became widely discussed.
Executives at these large companies are seeking the help of consultants and psychologists, such as through staffing firms, law firms and even artificial intelligence startups, to prevent and combat the phenomenon.
Worryingly for executives, Labour Department data showed that productivity was falling as workers tended to lie down, falling 4.6 per cent in the second quarter from a year earlier and 7.4 per cent in the first quarter, the biggest decline since 1947. Over the past year, labor productivity has fallen 0.4 percent year-on-year, compared with an average growth rate of 1.3 percent before the pandemic.
Why is "Lying Flat Tide" Sweeping Across America?
Some analysts blame the coronavirus pandemic, stagnant incomes and the high cost of living. They argue that persistently high inflation and a declining U.S. economy have caused the cost of living to rise faster than wages, leaving workers increasingly flat.
At the same time, the way Americans view work is gradually changing. Granger said that Americans began to work for "self-actualization" rather than "paychecks."
According to a new Gallup survey, about 50 percent of the 15,000 full - and part-time workers in the United States are in "limbo employment," according to a Wall Street Journal article.
According to the survey, the percentage of employees who are actively engaged at work and opposed to lie-in has held steady at 32 percent, while those who are not at work and are very engaged at work have risen to 18 percent from 17 percent at the beginning of the year.
The survey also found that "Gen Z" (those born between 1995 and 2009) and younger "millennials" under the age of 35 have experienced significant declines in workplace participation.
As for the solution, Gallup says that to increase employee motivation and engagement at work, managers need to have in-depth conversations lasting 15 to 30 minutes with each team member at least once a week.
In addition, Wells Fargo economist Sarah House notes:
Labor is the biggest expense for many businesses, and if labor costs continue to soar even as productivity declines, companies will be forced to lay off workers to protect profits.
At the same time, to increase productivity, more and more enterprises are turning to automation. According to the American Association of Automation, robot orders in the United States surged 40 percent in the first quarter of this year compared with the same period in 2021, and surged 22 percent for all of last year.
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Responsible Editor: Liu Xuanyi