Wall Street braces for election volatility with more staff | Fewer employees aspire to management roles | Founder on why younger leaders are redefining success
Wall Street is increasing staffing for possible volatile trading during election. (Spencer Platt/Getty Images)
Amid fears of election-related market volatility, Wall Street firms are increasing staff and enhancing systems to cope with heightened trading activity and possible volatility. Some organizations are adjusting staffing schedules and testing trade systems to maintain functionality during unpredictable market movements.
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Many workers are prioritizing work-life balance over traditional career advancement, with only 38% of US employees interested in becoming managers, according to a Visier survey. To progress without becoming a manager, experts recommend upskilling, seeking new projects, joining courses and working for companies with flat structures. "This could aid the retention of employees who may otherwise look for development opportunities elsewhere," writes Paul Holcroft, managing director at Croner.
Employers should offer their employees lifestyle spending accounts, which can be customized to meet needs such as gym memberships, child care, home office equipment and personal development, write Corporate Synergies' Pamela Smith and Harrison Newman. "The diversity of options makes LSAs particularly appealing in today's varied workforce," write Smith and Newman, who point out companies can set account budgets to fit their size and align programs with workplace culture and goals.
Northern Virginia Community College's Guaranteed Interview Program connects students with regional employers, offering them a chance to interview for positions aligned with their skills. Launched in 2020, the program targets high-demand sectors like health care and IT, providing students with career readiness resources.
Amid a contentious election period, organizations are urged to support employee well-being and navigate political divisions in the workplace, writes BRIDGE CEO Sheryl Daija. With over 60% of employees working alongside coworkers with different political views, companies should proactively establish inclusive policies. This includes fostering open communication, offering mental health support, and adjusting work schedules around election day. Such strategies aim to maintain a safe and cohesive working environment during these polarized times.
Good or bad, "rugged individualism" is roughly defined as self-reliance and independence from outside assistance, and the idea was part and parcel to a stump speech from which US president?
My friend Dallas was doing an oil change on my bike. It had been some time since I had seen him, so I hung out while he worked and we got caught up. I asked him about work and he mentioned he was considering pursuing his doctorate. It seems he was up for a promotion but had some reservations.
“It’s management,” he said, holding up a small part and inspecting it closely.
“What’s wrong with that?”
“People. I don’t need the headache or the pressure.”
I groped for words to encourage him to pursue the role. Dallas is a natural leader. He’s smart. He’s resilient. He has excellent decision-making instincts.He gets along well with others. He’s organized. He has a presence that commands respect. He’s perfect for the role.
We need the Dallases of the world in our leadership positions, but many of them are eschewing those roles, according to our Recruiting & Retention story today. For some, it’s a matter of wanting a better work-life balance. For others, like Dallas, it’s an antipathy to the stress that comes with dealing with people.
How can we change this situation? What are you doing to draw quality leaders into your organization? How are you nurturing management talent in-house? Let me know!
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We do not have to become heroes overnight. Just a step at a time, meeting each thing that comes up, seeing it is not as dreadful as it appeared, discovering we have the strength to stare it down.
Eleanor Roosevelt, political figure, diplomat, activist, first lady of the United States
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