Effects of coronavirus spread through global economy | Cultural fit is more important than skill set | Study: Time constraints may hinder transformation efforts
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The impact of the new coronavirus comes as China's economy slows and trading partners shift suppliers to avoid Chinese tariffs and other trade restrictions. The outbreak is undermining hopes for a rebound in US-Chinese trade and increasing the odds of a global economic downturn this year.
Founders might feel pressure to hire people with the right skill sets even if they're not a good cultural fit, but "those gambles seldom pay off," writes Amy Zimmerman, an executive at Kabbage. "Pay careful attention to your hiring and firing, and you can accelerate both your team's success and your company's bottom line," she writes.
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Staying employable in today's fast-shifting market means being proactive and learning continually, writes Dave Denaro, vice president at Keystone Associates. Denaro details three ways workers can sharpen their skill sets and guard their careers.
Research suggests that a Medicare for All model, which would reduce employer health care costs, would also lead to higher wages, but it might not be a dollar-for-dollar match and would depend on the labor market. Wages are just one part of the discussion in Medicare for All, which could affect how much people pay in taxes and health costs.
Leaders can help struggling employees they can't fire by getting them a coach or other support, being clear about expectations and considering a sabbatical, writes David C. Baker. These steps are most important when the problem employee is you, Baker writes.