n one of my companies in the field of tourism we have direct contact with many CEOs of hotels in the country. One day we received a message that in one of the hotels belonging to a large chain we work with the CEO ended his job and a young CEO came instead. I asked which hotel she came from I was told that she ran a spa at another chain of the chain and they decided to promote her to hotel management. It turned out that one of the chain’s considerations was to reduce the CEO’s salary by 40% in order to save costs. But they did not take into account that the level of satisfaction of hotel guests in all aspects began to plunge, and after a year in the CEO’s tenure, when faced with a sharp drop in profits, they realized that the cheap cost them dearly and that wrong decision making caused heavy damage to the hotel.
Another example is people who have worked and specialized in a particular field that is not needed today, such as diamond polishers, engravers or a lab technician for repairing electrical products. When they step out of the work circle and look for a new job, they discover that no one needs to work with these skills and they are unable to find a new job in the field in which they have been engaged for many years.
Such a person, who has worked in his field for 20-15 years and is unable to return to the labor force, has a home, family and long-term financial obligations, and unemployment for him means a period of anguish that affects him personally, as well as his family and all those around him.