Steven Jagger’s Post

Everyone knows the exec market is slow. But why? Let me explain. ✂ Cutbacks In a world where profits and growth are harder to come by business is reacting accordingly. CEOs are cutting back to improve the bottom line. Non-revenue generating roles are likely to be hit the hardest. Listed companies with the constant pressure to perform are more likely to be under pressure too. 🪑 The big stay Fewer people are looking. When senior professionals stay put, it limits opportunities for others to move into their roles. If their role isn’t at risk, senior professionals are unlikely to move until the market improves. 🏁 It's competitive There's never any shortage of people wanting to get paid well so it's no surprise the competition is fierce for well paid roles especially when there's less of them to go around. 🚧 Organisations are realigning their structures for efficiency Blame it on Mark Zuckerberg who famously quoted “you don’t want a structure that has managers managing managers, managing managers, managing managers, managing the people who are doing the work.”   🧨A changing C-suite Despite having high pay and low unemployment rates historically, the C-suite is not immune to the challenges ahead; as AI tools take over more tasks, traditional executive roles may evolve or diminish. Unlike previous technological revolutions that primarily impacted manual labour, AI now threatens knowledge workers potentially upending traditionally secure professions. The executive job market is a dynamic environment, closely linked to the economic cycle of the day and economic fluctuations. It’s worth remembering that the job search at the executive level is a marathon not a sprint. You just got to hang in there and wait for the cycle to move on. #samuelsdonegan #marketinsights #jobs #supplyanddemand

We're incredibly grateful to Mr. Alok Nidhi Gupta for sharing his invaluable insights at our recent webinar. His perspective on the shift from degree-based to skill-based hiring was truly eye-opening. Mr. Gupta highlighted how dramatically the hiring ecosystem has transformed over the past decade. Who could have predicted the immense impact of AI and generative technologies on our workforce? As he pointed out, we're witnessing a significant reallocation of labor between humans and machines, with millions of jobs being created and others phased out. One of the most striking points Mr. Gupta made was about the rise of the contingent and gig workforce. These flexible work arrangements are reshaping our understanding of employment, offering both challenges and opportunities for businesses and professionals alike. Perhaps most importantly, Mr. Gupta emphasized the growing disconnect between traditional education and job market demands. With only a small percentage of graduates possessing job-ready skills, and many working in fields unrelated to their degrees, it's clear that adaptability and continuous learning are more crucial than ever. As we navigate this rapidly changing landscape, Mr. Gupta's insights serve as a valuable guide. They remind us of the importance of fostering a culture of lifelong learning and skill development within our organizations. We extend our heartfelt thanks to Mr. Gupta for sharing his expertise and helping us better understand the future of work. His words inspire us to embrace change and prepare for a world where skills truly are the new currency. What are your thoughts on this shift towards skill-based hiring? How is your organization adapting to these changes? We'd love to hear your perspectives. #FutureOfWork #AIRecruitment #RecruitmentInnovation #HRTech #TalentAcquisition #HiringTrends #RecruitmentEvolution #IndustryInsights #HRInnovation #TalentStrategy #AIHiring #RecruitmentTech #FutureOfHR #HiringRevolution #RecruitmentTrends #HRTechnology #FutureWorkforce Chinmay Kumar Dash, Priya Chawla, Divya Varma, Aadya Sharma, Urvashi Johri, Soniya Jennifer, Niranjan Cavalien, Rakesh Panda

🎯🎯🎯28% of workers said they are "extremely Likely" to switch jobs this year...are you one of them? You'll need an experienced career coach who has a track record of success! Great Resignation' enters third year as workers embrace AI, upskilling, PwC says https://bit.ly/3zt4edK #careercounseling #jobchange #jobsearch #careercoaching #interviewingskills #networkingskills #careerchange #findtherightfit #jobhelp #careerhelp #jobsearchstrategies #careertransition #outplacement #Zoomeeting🎯🎯🎯

Interesting update.. What’s Really Going On in the Workplace? Let's Talk About It. We recently rolled out a survey, and the feedback we got is super interesting! Here’s what one of the respondents shared about the challenges their firm is facing, and I’m curious to see if this resonates with you: Hiring Struggles? High competition for talent – finding the right people is getting tougher by the day. Experienced Hires? Upskilling and reskilling are the big hurdles. Keeping experienced professionals ahead of the curve is a challenge. Employee Attrition? It’s rising, and one major reason is the lack of growth opportunities. Finance-Related Issues? Surprisingly, none mentioned here. Market Impact? The economic slowdown is making waves, and it’s on everyone’s mind. It got me thinking – are these challenges something you're seeing in your industry too? Or are there other hurdles that stand out for you? Would love to hear your thoughts! Let’s get the conversation going 👇 #HiringChallenges #EmployeeRetention #EconomicSlowdown #IndustryTalk #Insights Sripal Jain (CA, CPA ) Poonam Jain, CA Usha Shree M Narayana Chery Jagadish Payal Jain Pothani Manoj kumar Ruchita R. Akash Mukherjee Rahul Roy

Great insight from JC Curran on the current job market. The second to last point resonated particularly for me. As AI evolves, its impact on DTC and B2C creative and marketing will be profound, especially in shaping the customer journey and brand narrative. Automation through LLMs and predictive modeling will enable brands to create personalized experiences, guiding consumers through tailored journeys and deepening the brand narrative. If leveraged correctly, AI is poised to forge stronger connections between brands and consumers, driving both loyalty and growth.

The threat of job loss in the corporate world is a multifaceted issue driven by technological advancements, economic changes, and organizational restructuring. Automation and artificial intelligence (AI) are among the most significant contributors to job displacement. According to a report by McKinsey Global Institute, up to 800 million jobs could be lost to automation by 2030. This trend is evident in industries such as manufacturing, where companies like General Motors and Ford have implemented robotics, leading to significant reductions in their human workforce. Economic downturns and market volatility further exacerbate job insecurity. The 2008 financial crisis is a prime example, leading to massive layoffs across various sectors. In the United States alone, approximately 8.7 million jobs were lost, and companies like Lehman Brothers collapsed entirely. More recently, the COVID-19 pandemic resulted in widespread job losses globally, with millions of workers furloughed or laid off as businesses struggled to survive lockdowns and reduced consumer demand. Corporate restructuring, including mergers and acquisitions, also poses a threat to job stability. When Amazon acquired Whole Foods in 2017, it led to significant changes in the workforce, including layoffs and changes in job roles as the company sought to integrate operations and cut costs. Similarly, the merger between AT&T and Time Warner in 2018 resulted in job cuts as the combined entity streamlined its operations. The gig economy, characterized by temporary and freelance work, adds another layer of insecurity. While it offers flexibility, it often lacks the stability and benefits of traditional employment. Companies like Uber and Lyft have revolutionized transportation but have also faced criticism for their treatment of workers, who often deal with inconsistent income and lack of job security. In response to these threats, employees must adapt by continuously updating their skills and embracing lifelong learning. The World Economic Forum estimates that by 2025, 50% of all employees will need reskilling. Real-life examples include IBM's initiative to train its workforce in new technologies and cloud computing, ensuring employees stay relevant in a rapidly changing industry. Additionally, programs like Google's Career Certificates aim to provide workers with skills in high-demand areas such as data analytics and project management. While job threats in the corporate world are significant, they also present opportunities for growth and innovation. By staying agile and prepared, individuals can navigate these challenges and secure their place in an evolving job market.

In a time of war - how do you win the best talents? 💼🔥💪   There are still only a few positive stories to be found when scrolling through our newsfeeds. We are reminded daily of the turbulent and uncertain macroeconomic conditions - war, inflation, and high interest rates - all of which hinder the growth we need.   At the same time, the job market is characterized by a significant talent shortage. According to a survey by Bain & Company, a whopping 58% of business leaders see this shortage as the biggest barrier to growth.   Here at Marcher Markholt, we are convinced that one of the key solutions to the talent war in companies lies in what's known as a 'blended workforce'. By combining permanent staff, interim hires, and freelancers, companies can gain a competitive advantage - a strategy endorsed by reputable institutions such as Harvard Business School and Boston Consulting Group.   That's why we've developed a Playbook for 2024, demonstrating how business leaders can proactively build a blended workforce to tackle both the talent war and economic turbulence. I'd like to share seven significant benefits of cultivating a flexible workforce:   1) Accelerated speed to market 2) Increased creativity and innovation 3) Improved alignment of skills and tasks, resulting in increased productivity 4) Inspiration for new work methodologies 5) Flexible scaling to accommodate fluctuating workloads 6) Leveraging expertise to address temporary challenges 7) Access to a more diverse talent pool   📘 Delve into our Playbook to learn more about how to create a blended workforce!   #TalentWar #BlendedWorkforce #BusinessGrowth

"Do more with less." Ever heard that one? This is by far the most common phrase I am hearing in meetings recently. And for good reason. The economy is flat (at best). Interest rates are high and investors are cautious. The uncertainty around what is going on in the world is real. As a result, companies are hiring less and leaning on their existing staff to do more. I get it...but consider this for a moment. We have heard the phrase "do more with less" before. We heard it in 2008 (Global Financial Crisis) We heard it in 2014 (European Debt Crisis) We heard it in 2021 (Pandemic) And you know what happened after each one of these instances? Employee turnover went up. Burnout figures went up. Number of unfilled vacancies went up. What is however surprising is how few (read almost none) managers and companies actually consider this correlation and prepare their business for what is to (inevitably) come. If you are pushing your company to do "more with less" now it is ok, it is a matter of survival. But unless this is a short sprint (and your people are onboard with it), you really need to consider the consequences of this for the future. If you think you will need to find replacement hires in 6-12 months, it is really time to start thinking about this now. What are the problems your business will be facing then? What skills gaps will you need to fill? What experience are you missing that will set your team up for success? These are just some of the questions you need to be asking yourself now while you still have time to plan (instead of fire fighting). #leadership #business #people

Does your organization practice skills-based hiring? I read a great Fortune article on this topic over the weekend, featuring Brooke Weddle, an expert in organizational agility. Skills-based hiring prioritizes candidates' abilities, experiences, and potential for growth over traditional qualifications like education and credentials. When it comes to hiring, “leading with skills, or the potential for skills, has been endorsed by leaders at IBM, Microsoft and Google, just to name a few,” Brooke says. All sounds good, but one of the major hurdles is being able to assess, or verify, a candidate’s relevant skill proficiency. Doing so effectively means that: A) Company leaders are able to articulate what “proficient” looks like in context of the role. B) Hiring managers are able to measure how effectively a candidate can demonstrate that skill in context. Focusing on practical competencies and using tools like #SmartAssessments, this approach can help companies build an adaptable workforce that’s better equipped to meet evolving business needs. Learn more about smart assessments over on Zal.ai's page!

On #skills based #hiring, #assessments, and the #tools and #technoloties to help you #upskill your learning, development, and people strategies. #SkillsBasedDesign #LearningAndDevelopment #PeopleStrategy #HumanCapital #Meadurement #GrowthPlan