Musk could lay off at least 25% of Twitter's staff | Job listings point to potential cooling in labor market | Strategies for retaining talent amid shifting economic conditions
After firing top Twitter executives in an initial company takeover last week and installing at least two members of his inner circle in leadership roles, Elon Musk is now reportedly seeking to put roughly one-quarter of the remaining staff out of work. Cuts are likely to be heaviest in marketing- and product-focused sectors, sources said, with employees in revenue-producing jobs likely to be spared.
At Accelerate, you'll hear from top experts and Lever customers on how to prepare for the next year's challenges in talent acquisition and retention--plus strategies, tactics, and inspiration to achieve your top hiring goals in 2023. Register Now.
The labor market could be cooling, with job postings down from last year in areas such as software development and human resources, according to the job site Indeed. Despite the decline this year, overall job listings on Indeed are still significantly higher than before the pandemic.
Elevate your skills with SHRM Education Stay current on the latest trends and get the tools you need to profoundly change your workplace with SHRM educational programs. Register today.
Employers can create a better development pathway for high-potential talent by providing practical experience opportunities, which can include the use of simulation technology, writes Brandon Hall Group's Claude Werder. Other tips include creating a culture that prioritizes mentoring and coaching, diversifying the talent pipeline and adopting multiperson feedback.
A recent KFF Employer Health Benefits Survey found that annual employer-sponsored health insurance premiums for families averaged $22,463 this year, compared with $22,221 in 2021, and the change in premiums this year was actually less than the 8% rise in inflation and the 6.7% increase in employee wages during the same period. Average family premiums have gone up 43% in the past 10 years, which surpasses the 25% growth in inflation and 38% growth in wages seen over that period, and family and individual premiums are expected to rise more sharply in 2023.
When actor Michael Keaton auditions for a role, he says he acts like he already has the part, a lesson aspiring leaders can follow by stepping out of their comfort zone and finding "adjacent possible" ways to lead from wherever they are, writes Larry Robertson. The phrase, coined by chaos theorist Stu Kaufman, means "that what's actually possible isn't some theoretical thing far away and out of our immediate reach, but something that begins adjacent to where you are right now," Robertson writes.
I have 11 standing meetings on my calendar. Two are monthly and the rest are a mix of weekly and bi-weekly. I calculated the time I spend in these meetings.
840 minutes, or 14 hours, per month.
And these are the standing meetings. That’s not including other meetings that pop up in my calendar weekly. That final number is probably closer to 20 hours per month.
Rebecca Hinds and Robert I. Sutton talk about how to fix meeting overload in today’s Leadership & Development story. The point I thought was interesting was about redesign. Eliminating unnecessary meetings is helpful, but the real time savings comes from rethinking the design and flow of those meetings. Do you need to have updates every week from every person on a given team? Or can some of that be communicated in a briefing doc or Slack channel? Does everyone on the team need to be in on every meeting, or can you cut back and let folks stay focused on their work? Can you take notes on a shared doc and then share that with everyone after the call? We want to save time but not compromise on sharing information.
What say you? What meeting hacks can you share? Let me know! And if you enjoy this brief, tell others so they can benefit also.
Sharing SmartBrief on Workforce with your network keeps the quality of content high and these newsletters free.
