Noble Advisors
  • Linkedin
  • Twitter
  • Home
  • About
    • Mind of Darwin: Academic Foundation
    • Mind of Darwn: Early Business Experience
    • Mind of Darwin: Mid Career
    • Mind of Darwin: Later Years
    • Heart of Darwin
  • Publications
    • Books
    • Articles
    • Notes on Noble Business
  • Speaking
    • Recent Keynotes
    • Audiences and Sponsoring Organizations
    • Participant Feedback
  • Executive Programs
    • Concepts Developed
    • Themes of My Work
  • Executive Counsel
  • Blog
  • Contact
info@NobleAdvisors.com

Economics 201: Just when we think we understand and can predict economics, reality intrudes

May 4, 2016 - Business Economics, Societal Evolution
0

Part 1: Part-time employment

Happy Employee

You’ve heard that since ObamaCare was instituted, full time employment is down and part-time employment is up as employers scramble to adjust to the new economics: that full-time employment (defined by the government as working 30 hours or more per week) costs employers more as they have to cover the insurance costs of those full-time employers, so they are trying to made due with part-time employees. It also “allows firms to act nimbly” (according to the article cited below.) Makes economic sense, right?

Well, it turns out not to be the slam-dunk most of us thought. In an article titled “Full-Time Hires Buck Trend at some Chains” in the April 27th issue of the Wall Street Journal, the author, Rachel Feintzeg, reports that

“At a time when many chains are shifting workers to part-time, the Altoona-PA based Sheetz Inc. convenience store is making a big bet on full-time hires… Leaders at the convenience store-and-gas station say having full-time workers behind the register results in

  • Better customer service,
  • Lower turnover, and
  • A more engaged workforce

“Sheetz and others, such as beauty retailer Bluemercury Inc., acknowledge that full timers might cost more at first, but say they are more reliable – 27% of full-time hourly workers leave their jobs a year, versus some 69% of part-timers. Lower turnover saves on training and hiring costs.”

But wait, it gets even better. “…some report that their customers spend more when full-timers take orders and ring up purchases!” “At Buffalo Wings & Rings, a restaurant with 50 locations in the U.S., full-timers ring up 6% higher sales and have far lower rates of absenteeism than part-timers do.”

I must admit: this was all a surprise to me. But when I read the WSJ article, I thought to myself: well, sure, this makes sense!

So, if you think you understand economics, make sure you check the research data to see if it bears out your expectations.

What has the experience been for your company? Going with more full-time employees or hiring more part-time employees?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Categories

  • About
  • Breakthrough
  • Business Economics
  • Business Strategy
  • Executive Counsel
  • Executive Counsel 2
  • Executive Education
  • Executive Management
  • Heart of Darwin
  • Leaders
  • Leadership
  • Mind of Darwin
  • Noble Enterprise
  • Notes on Noble Business
  • Personal Growth
  • Private-Family
  • Profitability
  • Programs
  • Publications
  • Research
  • Societal Evolution
  • Speaking
  • The Common Good
  • Trends
  • Welcome

Blog Archive

  • July 2020
  • April 2020
  • February 2020
  • January 2020
  • November 2019
  • October 2019
  • August 2019
  • February 2019
  • December 2018
  • September 2018
  • May 2018
  • April 2018
  • February 2018
  • July 2016
  • May 2016
  • October 2015
  • September 2015
  • July 2015
  • May 2015
  • January 2015
  • October 2014
  • March 2014
  • February 2014
  • December 2013
  • November 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • October 2012
  • September 2012
  • August 2012
  • April 2012
  • March 2012
  • January 2012
  • December 2011
  • October 2011
  • August 2011
  • April 2011
  • December 2010
  • November 2010
  • September 2010
  • August 2010
  • July 2010
  • June 2010
  • March 2010
  • January 2010
  • August 2009
  • July 2009
  • June 2009
  • May 2009
  • April 2009
  • March 2009
  • January 2009
  • December 2008
  • November 2008
  • October 2008
  • September 2008
  • August 2008
  • June 2008
  • May 2008
  • April 2008
Copyright 2018 Noble Advisors
  • Home
  • About
  • Publications
  • Speaking
  • Executive Programs
  • Executive Counsel
  • Blog
  • Contact