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have  profited  from  the  unusual  tight labour market and growing
       circumstances of 2020 paid out  earnings, which were abruptly
       above goal levels despite the battered  followed by instructions to stay
       overall economy, says Gregg Passin,  at  home  and  significant  job  losses
       senior partner, Executive Solutions,  that completely changed the labour
       at Mercer. Other businesses must  market.
       choose whether  to lower incentive   According to Mercer’s analysis,
       plan  awards  to  represent  the  new   company executives anticipate a
       economic reality because their     rise in remuneration of between 2.6
       recovery will take years.          percent and 3 percent in 2021. But
        In a post-COVID-19 economy,  just like in 2020, different industries
       businesses are attempting to handle  will be impacted differently. While
       a new type of workplace. Innovative  other industries were severely
       workforce   models   are   being   impacted by the economic slump,
       discussed and gradually adopted,  online    retailers  saw   record-
       from asset-light businesses to the  breaking revenues as, for example,
       human cloud and digital nomads to  homebound      people     avoided
       global employees.                  shopping and  chose delivery.  The
        Global employees now collaborate   U.S. economy shed a net of 9.6
       across cultures, countries, and    million jobs between September
       languages in a world that is getting   2019 and September 2020. (not
       smaller as a result of technological   including  agricultural  jobs).
       advancements. The human cloud      According to the Bureau of Labour
       was made possible by online        Statistics,  a   disproportionate
       marketplaces that let businesses hire   8.6 million of those were service
       people for particular jobs without   occupations, with 3.6 million of
       putting any restrictions on either   those in leisure and hospitality
       the hiring party or the employee.   (BLS).
       These digital methods are how       According to the BLS’s Current
       digital nomads support themselves,  Employment     Statistics,  some
       working  from  coffee  shops  and  employees in struggling companies
       coworking spaces all over the globe.  experienced less growth in their
        Conclusion                        hourly pay than the national
                                          averages. The average hourly
        In 2020, employee compensation    income in the leisure and hospitality
       experienced a roller-coaster of    sector increased by barely 15 cents
       changes due  to the coronavirus    to $14.78 between September 2019
       pandemic. The year started with a

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