Rebuilding the Service Profit Chain
Across the globe, hundreds of millions of people are required to join the service industry workforce—from health care to hotels and restaurants— amidst what labor economists are calling “the Great Resignation.” Inflation, high interest rates, and economic and geopolitical turbulence not seen for decades are creating new cost pressures and uncertainties, making it more challenging for the service industry to forecast its operating requirements. Meanwhile, remote workers and distributed teams armed with powerful collaboration tools are bucking the notion that career ascension requires working for a single employer or that only secure innovation blossoms in the office. These long-term ...
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