Happy And Succeeding In The Future Of Work
Our Weekly Roundup
How The Wave Of Layoffs Shifts Power Dynamics
In a memo to employees on Friday, Alphabet, Google’s parent company, announced its plans to lay off around 12,000 people. The decision will decrease the workforce by about 6%. The downsizing is the largest in the search engine’s history. The reduction in staff will impact a cross-section of divisions and locations. Recruiters and staff working in units not aligned with the firm’s core businesses will be affected.
Despite Economic Headwinds, Workers Are More Confident, Searching For New Roles And Asking For Raises And Promotions
American working professionals are coping with anxiety related to a weekly pattern of top-tier companies announcing layoffs, enduring the impact of record levels of inflation, high interest rates and being concerned about the effects of a possible recession.
Why Hiring Freezes And Attrition Are More Favorable Than Layoffs
Compared to downsizing, a hiring freeze feels like the lesser of two evils. Putting a pause on hiring and nudging attrition without backfilling the roles are lesser-known business strategies to cut costs in an uncertain environment.
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.
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.
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.
Why Managers Must Actively Listen To Their Workers
The World Economic Forum has announced what it thinks is the most needed skill in today’s “ambivalent, cynical and disempowered” workforce—generous listening. In a published article, the WEF wrote, “If there is one crucial thing that the ‘Great Resignation’ or the even more recent ‘Quiet Quitting’ trend has taught us, it is that we, as leaders, have failed to listen generously to our employees.” The organization recommends that leaders “listen generously,” be fully present, and not interrupt and set aside any prejudices and biases to ensure that employees are engaged, dedicated and committed, leading to meaningful interactions.
How To Answer Tricky Interview Questions
The recent monthly jobs reports show that the labor market remains robust. The headlines, however, showcase a steady stream of layoff announcements from prominent companies, including Goldman Sachs, Amazon, Salesforce, Meta and Microsoft. Record levels of inflation, high interest rates and escalating costs prompt people to start considering finding a new job that pays more than they’re currently earning to keep up with the soaring living costs.
When Hunting For A New Job, Focus On What You Can Control
It’s the new year and you’re thinking about switching jobs. Once the holiday season comes to a close and it’s back to business as usual, you recall everything that’s been annoying you—a narcissistic boss, sniping co-workers, lousy pay, no upward mobility and a lack of purpose and meaning. Once you’ve concluded that nothing will change, it’s time to start searching. At the same time, you owe it to yourself to at least give it one more try. Arrange a meeting with your manager to discuss their plans for your future.
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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.