It isn’t exactly a tight job market, not yet, but employers are already having to adjust. Walmart announced it is raising its pay for its lowest-paid workers by about $2 an hour over the next year. It is also trying to make work schedules more predictable and posting them farther in advance so that workers can have an easier time planning their lives. Both moves echo adjustments already made last year by other retailers.
It is a different adjustment for employers of information technology workers. Companies are increasing pay, and much of that increase is going into retention incentives.
The press releases may talk about lofty goals such as creating a better experience for workers, but the real objective is to reduce turnover. Workers in 2015 have more options than they have had since 1998, and companies worry that if they don’t give workers a reason to stay, they may find themselves without enough workers to operate effectively.