Happy And Succeeding In The Future Of Work
Monster Survey: 96% Of Workers Are On The Job Hunt
Monster, one of the early online job boards, reported that 96% of workers are hunting for a new job this year, according to its December survey on job search plans and the 2023 United States job market outlook. The respondents say that they are seeking higher compensation. About 40% of job seekers said they need a higher income due to inflation and the accompanying rise in costs. Sixty-six percent of the 930 poll respondents believe that it will be challenging to find a new job, and more than 10% report that they may have to take a pay cut due to the current economy.
White-Collar Office Workers Are Having A Hard Time
A steady flow of layoff announcements targeting professionals working in tech, Wall Street, media and other sectors could signal the beginning of a white-collar recession. The downturn in the economy is changing the worker-employer dynamic. Companies, after contending with the Great Resignation and consequent labor shortage, are now gaining the upper hand.
Consider Downshifting Your Career Instead Of Quiet Quitting
A time will come in your career when you need to downshift or make a change. Downshifting—similar to when you drive a car and intentionally shift gears to a lower speed and intensity—applies to your career too. It’s when you acknowledge that you need to cut down on the work hours and reduce the amount of pressure you’re dealing with. If you don’t take paid time off, disconnect and go on a long vacation or switch to another type of role, you feel you’ll end up burned out.
Remote Worker Ordered To Repay Employer For “Time Theft”
A Canadian accountant has been ordered to repay her employer for “time theft” after the company’s tracking software determined that she was performing personal tasks while she claimed to be working. The court ruling marks one of the first instances in which such technology has been used to order a worker to repay an employer for slacking off on the job.
FTC Plan to Ban Noncompete Clauses Shifts Companies’ Focus
Businesses and lawyers are beginning to assess what the Federal Trade Commission’s proposed ban of noncompete clauses in employment contracts could mean for worker mobility, wages and the way future compensation agreements are structured. While a full or partial ban could expand the pool of potential hires, it also would weaken a tool that employers have come to rely on to retain talent and protect trade secrets and other proprietary information, lawyers say. More companies likely would turn to a patchwork of alternative mechanisms to keep people from leaving and taking valuable information with them, including nondisclosure agreements and employment contracts that reward longevity, they say.
Recession Likely This Year, Economists Predict In Survey – WSJ Report
Higher interest rates will push the US economy into a recession this year, according to a survey of business and academic economists. The Wall Street Journal reports in a poll that on average, economists put the probability of a recession in the next 12 months at 61%. That’s down slightly from 63% in October’s WSJ survey. But both figures are historically high outside actual recessions.
The Crypto Culling: Thousands Of Employees Are Getting The Ax As Companies Face Plunging Valuations, Scandals And Legal Turmoil
In the early days of January, several major companies in the cryptocurrency industry, such as Genesis, Coinbase, Blockchain.com, and Crypto.com, announced plans to significantly reduce their workforces. For a few of these companies, such as Crypto.com and Genesis, this marks the second round of layoffs within a short period, following previous headcount cuts during the summer due to a decline in cryptocurrency prices.
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Media Inquiry
Jack Kelly is available to discuss a broad range of topics, including, but not limited to: the job market, the state of recruiting, trending news stories and career advice. He has appeared on CNBC, MSNBC, NBC, FOX, CBS, BBC and NPR. Jack has been quoted in the the Wall Street Journal, Washington Post, Economist, INC., New York Post and more.
About Jack Kelly
Jack Kelly is the CEO, founder, and executive recruiter at one of the oldest and largest global search firms in his area of expertise. He has personally placed thousands of professionals with top-tier companies over the last 20-plus years. Jack is passionate about advocating for job seekers. In doing so, he founded a start-up company, WeCruitr, at the beginning of the Covid-19 pandemic. The mission of WeCruitr is to help people in need and make the job search more humane and enjoyable. As a proponent of career growth, Jack shares his insider interviewing tips and career advancement secrets as a Senior Contributor for Forbes. He also covers timely topics related to corporations, high-profile people, Wall Street, politics and other important matters. The pieces offer insight into the news and how it may impact your career. Jack is the author of Happy and Succeeding in Your Job Search, as well as the host of Happy And Succeeding In The Future Of Work and cohost of the Blind Ambition podcast.