In an involuntary termination, an employer fires the employee or removes the employee from his or her job. An involuntary termination is usually the result of an employer's dissatisfaction with an employee or an economic downturn.
While a higher minimum wage induces some automation, as well as increased worker productivity and higher prices, it simultaneously increases worker purchasing power. In the end, the costs of the minimum wage will be borne by turnover reductions, productivity increases and modest price increases.
Fueled by changing global demographics, Big Data, analytics, cloud computing, machine learning and artificial intelligence, the automation of knowledge work has the potential to drastically change business by creating a new class of âdigital labor.â And itâs not just clerical services.