SUCCESS

Job Ghosting: Why Employers Ghost Candidates During The Interview Process

Ghosting has unfortunately become commonplace in the hiring process, and one of the biggest pain points for job seekers in today’s labor market. Job ghosting refers to the practice of suddenly ceasing all communication with a candidate, in hopes that the applicant will get the hint that they are no longer being considered for the position, as opposed to the human resources professional or hiring manager simply telling them they’re out of the running.

An applicant will submit their résumé to an employer, be called for an interview and go through the process of meeting with about three to six or more people over the course of a number of months. The candidate is excited about the opportunity, but their enthusiasm wanes when there’s a deafening silence from the hiring team’s side. They fail to return your calls, texts, emails and LinkedIn messages. The sudden halt in communication is meant to connote that you did not get the job.

This cold avoidance of sharing feedback is disorienting and discouraging for candidates. They feel taken advantage of, as they put in a lot of time and effort interviewing, and held certain expectations for the outcome as they moved further into the process. What’s worse, without any constructive criticism, the job hunter doesn’t know what they did wrong and is unaware of how to improve their interviewing skills for the next opportunity.

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Latest Developments In The Job Market, Tech And The U.S. Economy

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The Job Market 

Great Wealth Transfer: How The $90 Trillion Windfall For Millennials Could Change The Job Market And Economy

The transfer of wealth from one generation to the next is a complex, multi-layered, emotional event. Parents who worked hard over the course of many decades will one day face their mortality and need to determine what they’ll do with their money.

Since you can’t take it with you when you’re dead and buried, the Baby Boomer generation is in the time of their lives when they must start preparing for how much money they need to survive and thrive in the sunset years of their lives and how much they will leave to their children.

According to a recent report by global real estate consultancy Knight Frank, $90 trillion in assets will be transferred between generations in the United States over the next 20 years. This shift will make Millennials—and to a lesser extent, Generation-Z —the wealthiest generation in American history.

It's Employee Appreciation Day, But Do Workers Feel Appreciated?

Employee Appreciation Day, the first Friday in March each year, gives companies an opportunity to thank and recognize the people who keep the business running, and running successfully.  

But that appreciation shouldn't be limited to one day--and, for the most part, company leaders are getting that: A substantial 62% of employees in a recent survey say they feel appreciated, according to the learning management platform TalentLMS. Fifty-six percent say their company celebrates work anniversaries and milestones, and 52% say that employee appreciation is personalized.  

Still, with 23% of employees feeling underappreciated, it's clear that company leaders have more room to improve.  

41% Of Workers Want Less AI In The HR Process

A new study from Paychex, Inc. reveals the benefits and challenges of artificial intelligence (AI) in the human resources (HR) industry, and how opinions on its use and effectiveness differ between HR professionals and employees. The first in a new series of 2024 Pulse of HR Reports entitled “Balancing Tech and Touch in Human Resources,” found that 41% of employees surveyed prefer less AI involvement in their company’s HR processes, while more than half are content with the current (39%) or an increased (20%) level of AI. Of the HR professionals who responded to the survey, 85% say AI provides useful data and analytics, and 79% believe it’s helping to reduce bias.

Over Half Of Managers Say Employees Avoiding RTO Is A ‘Major Red Flag’

A new survey from employee background screener Checkr of U.S.-based workers reveals that 56% of managers say it’s a “major red flag” when employees don’t want to come into the office.

Tech

Elon Musk Sues OpenAI And CEO Sam Altman, Claiming Betrayal Of Its Goal To Benefit Humanity

Elon Musk is suing OpenAI and its CEO Sam Altman over what he says is a betrayal of the ChatGPT maker’s founding aims of benefiting humanity rather than pursuing profits.

In a lawsuit filed at San Francisco Superior Court, billionaire Musk said that when he bankrolled OpenAI’s creation, he secured an agreement with Altman and Greg Brockman, the president, to keep the AI company as a nonprofit that would develop technology for the benefit of the public.

Under its founding agreement, OpenAI would also make its code open to the public instead of walling it off for any private company’s gains, the lawsuit says.

However, by embracing a close relationship with Microsoft, OpenAI and its top executives have set that pact “aflame” and are “perverting” the company’s mission, Musk alleges in the lawsuit.

Economy

What Recession? Professional Forecasters Raise Expectations For U.S. Economy In 2024

This year looks to be a much better one for the U.S. economy than business economists were forecasting just a few months ago, according to a survey released Monday.

The economy looks set to grow 2.2% this year after adjusting for inflation, according to the National Association for Business Economics. That’s up from the 1.3% that economists from universities, businesses and investment firms predicted in the association’s prior survey, which was conducted in November.

It’s the latest signal of strength for an economy that’s blasted through predictions of a recession. High interest rates meant to get inflation under control were supposed to drag down the economy, the thinking went. High rates put the brakes on the economy, such as by making mortgages and credit card bills more expensive, in hopes of starving inflation of its fuel.

But even with rates very high, the job market and U.S. household spending have remained remarkably resilient. That in turn has raised expectations going forward.

Economists also more than doubled their estimates for the number of jobs gained across the economy this year, though it would still likely be down from the previous one.

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How To Get A Job In Tough Times: All The Advice You Need To Succeed From A Top Executive Recruiter

There’s an old saying, “Tough times make tough people.” In this book, Jack Kelly will help guide you every step of the way in your job search to ensure that you stay strong, resilient and positive, and get that great, new job.