General Discussion
In reply to the discussion: Krugman: When a business owner complains about being unable to find workers, ask how much he pays. [View all]laundry_queen
(8,646 posts)Higher up idiots who don't realize that there is a HUGE cost to replacing employees every few months. From what I've heard/learned it's about 8 months (on average) to recoup costs on a new employee. Plus, as you've said, the employee he's looking for is going to be the FACE of his business! And he is paying wages that where I am, won't get you a teenage housekeeper in a hotel. He might as well shoot himself in the foot. Moron.
I think many of these corporations have substandard in-house accounting departments that have no idea how to do a proper cost-benefit analysis including intangibles on employees. There are costs to not paying decent wages. There are costs to hiring foreign workers. There are costs to hiring and laying off people at will with each new business cycle. Because these accountants haven't figured out how to quantify these intangibles, they act as if they aren't even there. Shameful incompetence.