TS #46 – The Dire Need for Human Capital

With the growing demand for products and the economy as a whole growing exponentially these days post the pandemic slump, the need for human capital is also on the rise. Companies are courting employees by either incentivizing, keeping the bar low for selection or any other means.

Last week, Amazon made a consideration for marijuana smokers. “The company said it is changing its drug testing policy and will no longer screen some workers for cannabis” according to cnbc. It has also backed the Federal Bill to legalize marijuana.

Employers like Hospitality Ventures, which runs businesses like Hilton and Marriott hotels, have also dropped marijuana testing to attract staff amidst this human-capital-crunch.

Ride hailing companies like Uber had earlier announced a “stimulus” for drivers, basically a bonus, to get drivers to hit the road and run cabs. A total of $250 million was earmarked for this purpose.

The proportion of US workers who tested positive for marijuana in urine climbed higher in 2020 according to Quest Diagnostics Inc., one of the largest drug-testing laboratories in the U.S.

About 2.7% of the approximately seven million drug tests Quest conducted on behalf of employers came back positive for marijuana—up from 2.5% in 2019 and 2% in 2016.

WSJ

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Shreesha S
Shreesha writes about Business, Finance and Tech for The Snippets Journal. He is also the Founder and Head of Content Development.
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