Good article. Interesting to see some of them who get it, and some who don't. The market will chose winners.
For all the mocking we do of millenials being entitled...of having "just-world" psychosis...of expecting the world to conform to their needs and expectations...I've recently decided that companies, at least many companies, are even worse. This could be a case of millennials moving into management level of companies. But mostly I think it's just that companies, in a corporate sense are (like the stereotypical millennial), just not very intelligent. Or to paraphrase MIB, "a person is smart, but people are stupid". Companies are quick to exploit leverage and pricing power when they have it, but very slow to adapt when they don't have it. It's as if they never learned about supply and demand. Where did these people learn to run companies? Do you even business?
I'm currently living a "different-industry" version of this article. My current company has created a reputation of being a terrible place to work--a real "the beatings will continue until morale improves" environment. Due to moderate unemployment in our industry in the past, plus lack of competition in our segment, they survived anyway despite very high turnover. 2017 was the worst with over 20% of the company leaving. And now that the market is picking up (MAGA!), they are finding that nobody wants to work for them, basically at any price. The headcount crisis is a direct threat to our ability to grab market share, but management do nothing to stop experienced staff from leaving. Try to
retain talent? Retain? Management will not stoop so low as to admit that retention is a goal; talent should be so lucky as to work for a great company like this one! Management are shocked, shocked! that interview candidates don't accept their offers. They are shocked, shocked! at the wages people are expecting. Why, those wages are HIGHER than what the company thinks it should have to pay! The injustice! The scoundrels! Some of them even try to negotiate! We just won't hire them!...yep. You won't either.
I see a similar thing with vendors that for many years enjoyed a totally dominant industry position, which has slipped away. It takes them a very long time to realize they have lost their position, and they keep trying to negotiate (and price) they way they did under the old days, not realizing the tables have turned and they now need to engage in salesmanship; a skill they utterly lack after years of atrophy. It's amusing and sad to see.
there's less of the screaming and shouting as [the new generation of] chefs just walk out now!