Job openings rise more than expected in Aug. | Research: 5 ways to approach, or avoid, layoffs | Return-to-office rate peaked in Sept., remains below pre-pandemic levels
The number of open jobs in August reached 9.61 million, compared to an upwardly revised estimate of 8.92 million in July, according to the latest data from the Bureau of Labor Statistics' Job Openings and Labor Turnover Survey report. Economists had been expecting an August total of 8.8 million openings, according to Refinitiv.
Layoffs hinder profits, innovation and productivity, so businesses should approach workforce adjustments with a long-term view, Harvard Business School's Sandra Sucher says. Fairness, legal requirements and other cost-cutting are three of five smart ways to handle workforce change, says Sucher, who has researched the hidden costs of layoffs.
How much employers pay can be key to competing for workers, but so can when employees are paid, writes Gene Marks, founder of the Marks Group. For example, the stir-fry restaurant chain Honeygrow uses a service called DailyPay to help employees access their money when they need it.
Manufacturing Week and Manufacturing Month are being celebrated across the US in the leadup to the Oct. 6 Manufacturing Day, an annual event providing manufacturers with opportunities to shine a light on the positive impact of manufacturing and industry opportunities. In southwest Ohio, eight local companies are hosting students throughout the month, providing a dozen tours to as many as 200 students, aiming to expose young people to manufacturing jobs and dispelling myths about manufacturing careers.
"Emotional intelligence affords leaders an invaluable edge in the AI era," as machines aren't good at empathy or making ethical decisions, writes author, speaker and "Claim Your Space" podcast host Eliza VanCort, who shares do's and don'ts for building a stronger EQ. For example, beginning feedback with "why" can be destructive, as can blowing people off or giving them a command, VanCort suggests.
I got this text from my friend Irma* Monday afternoon. She was in a panic. She had just started a new job and the payroll department made a mistake with her paycheck. It was going to be a couple weeks before she would see the money.
“I have to pay rent, buy food and get my car out of the shop,” she told me, clearly stressed. I hurt for her, but advised her to stay away from the online loan.
“Those places are sharks,” I said. “They’re not intended to let you out of that loan. Let’s talk about other options.”
Irma’s situation is not unique. She’s not an irresponsible person. She’s like many other Americans who have watched the cost of their gas, groceries, rent and other items increase in recent months. They’re finding themselves squeezed between paychecks and looking for ways to cope.
So I like that more employers are stepping into that gap by offering their workers on-demand access to their wages. These organizations are using services like Daily Pay to give employees their money as early as 24 hours after work is performed. For many families, this service is a lifesaver. For employers, it’s an attractive benefit for prospective job candidates.
What do you think? Is this something you would consider at your workplace? Let me know! And if you enjoy this brief, tell others so they can benefit also.
*Name changed to preserve subject's privacy.
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