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A shortage of workers is driving up wages: are we entering a new economic era?


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4 minutes ago, PeanutButter said:

I shared an office with recruiters once. They're worse than estate agents. Absolute hounds of hell.

Yes, I've had the misfortune of having to deal with a couple.

I dont know why companies are willing to pay them so much for so little.

I've worked somewhere that had their own dedicated recruitment team, was more cost effective.

The UK seems to be full of people/professions living of the back of an ever decreasing productive population.

 

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1 minute ago, TheCountOfNowhere said:

Yes, I've had the misfortune of having to deal with a couple.

I dont know why companies are willing to pay them so much for so little.

I've worked somewhere that had their own dedicated recruitment team, was more cost effective.

The UK seems to be full of people/professions living of the back of an ever decreasing productive population.

I see them as part of the cycle of contracting out and then bringing in house ad infinitum. The reason for the 5k bounty is because they're recently stopped using recruiters and now have a huge backlog of jobs to fill - the in house recruitment team needed to be recruited as well lol. 

Do most working people in the UK perform useful functions? Perhaps so, but many do not. Me included!

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1 hour ago, TheCountOfNowhere said:

The UK seems to be full of people/professions living of the back of an ever decreasing productive population.

Being productive doesn't require very many people any more.

I'd be a bit less against the relentless push towards automation if it didn't result in more busywork, and looking forward, the consequences of that all collapsing, but instead meant everyone still had fulfillingly productive work but, say, three days a week without the impact of the sort of three day week we had in the 70s.

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1 hour ago, TheCountOfNowhere said:

Yes, I've had the misfortune of having to deal with a couple.

I dont know why companies are willing to pay them so much for so little.

I've worked somewhere that had their own dedicated recruitment team, was more cost effective.

The UK seems to be full of people/professions living of the back of an ever decreasing productive population.

 

Worked in Oil and Gas and the major multinational that I was in decided to bring in recruiters to mostly replace the inhouse team.

These recruiters had limited knowledge of drilling and the oil industry in general, bar what it would appear to be what they could read from Yahoo (this was a few years ago!).

So they do a review of the workforce and decided that employees with over 15 years experience were not helping the companies profitability as their loyalty apparently stifled innovation and also prevented bringing in young eager talent that could inspire the company with new ideas (plus other marketing bs which suitably impressed the Harvard MBA trained management). 

So incentives were given to those veteran employees and most of them left, enjoying the fact that they were being offered a good redundancy package at a time when there was a shortage of engineers so no problem at all in going to another company.

Roll on a couple of months and the company then re-discovers that O&G is a conservative industry and a lot of the equipment used is antique and proprietary (i.e. over 20 years old) as its proven and safe.  But that means you need employees that know how to operate and repair them.  Guess what, nobody left to do this as they mostly left so the recruiters then have to rehire back the engineers they got rid of as consultants working for 4 times the previous salary.  Combined with the fact the company lost many contracts as they could not guarantee personnel and equipment availability, it cost many millions of $ lost revenue.

The sad thing is that nothing changed, the oil boom at the time hid these massive mistakes as they could still reap a handsome profit using the engineers as consultants.  O&G is a incredibly inefficient industry.  As you can guess, this was in the USA but I suspect the same idiocy happens over here as well.

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3 minutes ago, Riedquat said:

Being productive doesn't require very many people any more.

I'd be a bit less against the relentless push towards automation if it didn't result in more busywork, and looking forward, the consequences of that all collapsing, but instead meant everyone still had fulfillingly productive work but, say, three days a week without the impact of the sort of three day week we had in the 70s.

 

You can't keep everyone in debt servitude if they have more than half their week free. 

 

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20 minutes ago, msi said:

 

You can't keep everyone in debt servitude if they have more than half their week free.

You can if you make sure they can't use that time to do other work for someone else. They might even be happier to accept it.

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