The global labor market recently witnessed an upheaval, especially evident in the U.S., where between 2021 and 2022, 97.8 million workers opted for new professional avenues, birthing the term "The Great Resignation." While this monumental shift reflects the changing expectations of American workers, one must wonder, is Aruba experiencing a similar trend?
Understanding The Great Resignation:
Contrary to the name, the vast majority of those who left their jobs didn't abandon the workforce. Instead, they transitioned from frontline, minimum-wage roles to more lucrative positions. Parallelly, many baby boomers, especially those in senior roles, began their journey into retirement around 2020. This vacuum paved the way for the younger generation to step into leadership roles, a trend projected to intensify up to 2030.
The Impact on Aruba:
Such large-scale transitions have direct implications on labor availability. While the global stage sees an acute shortage in front-line roles, the question arises – is Aruba's restaurant sector feeling the pinch? Restaurants worldwide are facing immense pressure to remain fully staffed. As a workaround, many establishments are increasingly turning to technological solutions.
Unattended Tech: A Boon or Bane?
Globally, restaurants are employing unattended technologies, like self-service kiosks, which have found favor with 65% of customers. These machines, while efficient, pose a risk to the unique personal touch that only human interactions can offer, thereby potentially affecting brand loyalty.
Loyalty remains paramount in the F&B sector. Almost 91% of global consumers value personalization, and traditionally, loyalty programs have been the vehicle for this in physical establishments. However, with the increased reliance on machines and diminished human touchpoints, ensuring customers actively participate in loyalty programs becomes challenging.
A Page from Amazon's Book:
What sets giants like Amazon apart is their unfettered access to consistent, first-party data on their customers, enabling unparalleled personalization. The challenge for brick-and-mortar establishments, like those in Aruba, is achieving this data consistency.
However, with innovations like PayiQ's Payments Intelligence®, it's now feasible. This system turns every payment card into a loyalty card, accumulating data in the background, offering establishments a consistent customer insight stream across channels.
While the globe grapples with labor shortages and shifts towards unattended technologies, it's essential for establishments, including those in Aruba, to remain attuned to these changes. Adapting swiftly, and leveraging technology while maintaining the irreplaceable human touch, is the way forward.