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Turnaround Professionals in a Changing Labor Market

Pressures Continue to Grow in the Ag, Logistics Industries

Labor resilience in the teeth of monetary policy and COVID-19's effects on white-collar work are driving systemic changes in society. Low unemployment, a declining domestic birth rate, and contention on immigration at any level of employment are driving macro trends.

As guest editor for this month’s Journal of Corporate Renewal, I reached out to a handful of experts to explore pressing topics related to the labor market. I’m thankful for the authors who have contributed to this issue, giving all of us a chance to better understand a key issue that is sure to present itself in corporate restructurings.

Leading off, Robert C. Folland and David J. Pryzbylski of Barnes & Thornburg lay out the ever-changing, pro-union landscape and how it will impact insolvency matters, including new rules in 2023 that make union organization easier to occur.

Nick Kalm, the CEO of Reputation Partners LLC, takes a view of the end-to-end issues of managing a union incursion and how you can take proactive and reactive steps to see that the situation does not become an overwhelming challenge for a turnaround practitioner or CRO.

Phil Wilson, the president of the Labor Relations Institute (LRI), offers a comprehensive answer to the question, “What do we do now that the strike is over?” He offers concrete steps to reestablish trust, lower the overall temperature, and encourage buy-in from employees after a labor dispute.

Danine Clay, chief of staff for the LRI, lays out the implications of a recent decision by the National Labor Relations Board. Cemex Construction Materials Pacific LLC alters employers’ requirements in bargaining with unions without a representation election. This article gives those of us in the turnaround and restructuring industry a better grasp of how these issues could impact companies in distress.

Gerry McLaughlin, CEO and executive director of his eponymous consulting firm, takes us on an informative tour through the complicated rules around union organizing. This is a must-read for anyone who contemplates acting in an interim management or CRO role. With three decades of experience negotiating more than 500 labor contracts, McLaughlin examined the counter intuitive issues that run amuck in union organization.

In this day and age, where employment can extend “just in case,” Scott Baker talks about how a CEO can become overwhelmed by the need to make changes in the executive suite. The founder and CEO of Stage 3 Leadership, he offers up some powerful nuggets that can be a guidepost to take action promptly.

Spyridon Patton, Ph.D., discusses the economics of labor in this brave new world where labor has the upper hand for the first time in the modern economy. As an esteemed economic academic at institutions including Penn State University, Villanova University, and St. Leo University, he has an in-depth knowledge of labor markets with experience in retail management and small business operations.

Ken Yager

Ken Yager

Newpoint Advisors

Ken Yager is the founder and president of Newpoint Advisors. With 25 years of executive leadership experience in stakeholder communication, he has worked with clients in a variety of industries in over
150 engagements, regularly taking on responsibility for profit and loss and risk management for cash-constrained companies in growth, leveraged-buyout, and turnaround situations. Yager has also worked on implementing hundreds of initiatives involving operations and project management, team building, marketing, and sales.

Labor Markets
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