Businesses that prioritise margins, focus on their most valuable customers, control costs and pay their best employees will cope with a tight labour market.
Keep a tight focus on costs to maintain margins.Focus on retaining, training your best existing staff.
“We’re no longer in a situation where companies can say, ‘Let’s try to take as much market share as we can, and we’ll just employ the additional people we need to meet that demand,’” Professor Orsmond said of the“The economics of full employment means that companies do not have that option any more. At least it would be an expensive strategy to do so because the only way of getting more labour would be to start paying very high wages to attract staff from other companies.
– was a clear indication that demand for goods and services had outstripped supply across the economy. “In a resource-constrained world, we want to focus our resources on those clients where we can drive value and build long-term sustainable relationships.
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