Attracting employees isn’t easy in the current environment, but the companies who can do it well may have a leg up on the competition. In this episode of “The 5,” Motley Fool contributors Travis Hoium, Jason Hall, and Demitri Kalogeropoulos discuss why Coinbase (NASDAQ:COIN) and Costco (NASDAQ:COST) are a cut above the rest in building the culture it takes to succeed in competitive markets.
This segment was recorded on Oct. 14, 2021.
Jason Hall: I want to hit another topic here. We’ve also talked a ton about unemployment claims, the jobs markets, the great resignation, I think it’s been called. There’s all of these things that are going on with the jobs market, it’s been bananas. We go back. I’m going to show a chart here because I think this is just one of those bonkers charts that’s really fun that highlights. I’m guessing, guys, that you could probably look at that chart and you could probably tell when the coronavirus lockdowns happen.
Demitri Kalogeropoulos: Maybe if you squint.
Jason Hall: If you squint, if you [laughs] imagine. I hate to make light of this. Because five million Americans lost their jobs in a week, so it’s not a laughing matter, but it’s so bizarre that it happened. At any rate, you see unemployment claims have fallen, and we have finally fallen below the 300,000 mark, which is great. It is a definite step forward to be back in some like within shouting distance of a normal unemployment rate. We do know too, there’s at least a million more jobs than there are people that are unemployed. There is work to be found.
Yesterday, Brian and the crew talked about hundreds of thousands of people that have quit their jobs recently, leaving industries, leaving jobs they don’t want to work and to try to move into the kinds of work that people are looking to do, whether it’s gig work or whatever it may be. I think it’s a really, really compelling time to be looking for a job if you have the right skills. I think that’s the case. What I thought would be fun if we could talk about today, and Travis, I’m going to ask you to go first here too, and your pictures blew my mind, but then I thought about it a little bit, I’m like, “Yeah, that makes sense.” Here’s the question. What’s a company you think treats its workers really, really well, that will also prove very good to investors? Travis.
Travis Hoium: My pick is a little bit maybe of a …….