Governments have also stepped in to help address the labor shortage. In January, the US government announced it would allow 18-, 19- and 20-year-old truck drivers to cross the state border. Meanwhile, California Gov. Gavin Newsom signs Executive Order N-3-22 that will help ensure that schools have enough teachers for individual learning as they battle the COVID-19 pandemic.
In December, President Joe Biden allowed an additional 20,000 seasonal, guest-worker visas for the winter, according to the Department of Homeland Security (DHS). Earlier, the Biden administration vowed to fill 600,000 vacant cybersecurity positions to intensify security of digital infrastructure in the public and private sectors.
To combat the nationwide workforce shortage and compete for talent, employers are increasingly having to increase their compensation and benefits packages beyond traditional healthcare, dental, vision and 401(k) offers.
For example, Goldman Sachs, JPMorgan and Citi paid nearly $11 billion in combined additional compensation last year to retain employees, the Wall Street Journal reported. Meanwhile, Amazon, Ollie’s Bargain Outlet, Sheetz and other brands offer signing bonuses to recruits. Little Caesars took it a step further by offering a pair of club, suite or lower bowl tickets to any sporting or entertainment event at Little Caesars Arena or Comerica Park in the Detroit area.