The Affordability Crisis, AI, And How Corporate Pay Practices Must Adapt
Over the last few years we’ve experienced a global affordability and income inequality problem and there are a myriad of policy issues at play. Yet at the same time something else is going on: wages and employee earnings have fallen way behind growth in GDP, profits, and productivity. What gives?
In this podcast, and the related article, I discuss how pay practices are changing and how we, as leaders or HR professionals, have a lot of agency to help address this situation. Without wading into politics, we have clear research on the way that pay operates as an “investment” not an expense, and how high performing companies actually reward their workers in exceptional ways.
It’s a complex topic and one that’s about to become more “systemic” and real-time with AI, so consider this some background to give you food for thought as more and more employees demand raises and accommodations for the high cost of living.
Additional Background
Why Has Cost of Living Become The #1 Issue In The US? It’s More Complex Than Inflation
Benchmark Your Pay Practices With Galileo: The AI Superagent for HR