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Quitting right after promotion? Here’s what you should know
- According to a report by ADP, 29% of employees quit within the first month of getting a promotion, possibly due to inadequate preparation or compensation.
- High-performance candidates at the leadership level are unlikely to quit soon after a promotion, as they become more invested in the company's success.
- Factors such as managers, workplace environment, growth opportunities, compensation, and location influence employees' decisions to quit after a promotion.
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Billionaire Mark Cuban used this sales pitch for his 1st tech startup in 1989
- In 1989, Mark Cuban successfully pitched MicroSolutions to a law firm, Jenkens & Gilchrist, with a focus on electronic information publishing for streamlining workflow.
- Cuban's pitch highlighted the software's benefits, such as detailed trial strategy reports and competitive advantages for attorneys.
- His sales approach emphasized helping people rather than convincing them, a lesson learned from his early experience in sales.
- Cuban's sales skills played a vital role in his entrepreneurial journey, leading to the sale of MicroSolutions for $6 million and later achieving billionaire status with Broadcast.com's sale to Yahoo for $5.7 billion, with a current net worth of $5.2 billion according to Forbes.
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5 smart questions to ask in a job interview in 2023
- Ask about the typical day in the role to understand the job's expectations and decide if it's the right fit for you.
- Inquire about how you can make a positive impact in the first three months to show your eagerness and commitment to the organization.
- Seek information on training and career progression opportunities to demonstrate your long-term commitment and assess your growth potential within the company.
- Ask about the company's future plans and direction over the next five years to gauge job security and learn about any major upcoming projects.
- Explore the working culture and environment of the organization to determine if you'll fit in, consider work-life balance, and assess employee happiness and benefits.
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Big layoffs in IT industry: 23 techies being sacked every hour for past 2 years
- IT industry has seen continuous layoffs for two years, averaging 23 tech job losses per hour.
- Microsoft-owned LinkedIn recently announced job cuts affecting 668 positions, aiming to streamline operations amid slow revenue growth.
- In India in particular, Byju's, one of the prominent edtech startups, recently laid off 4,000-5,000 employees as part of business restructuring exercises.
- According to data from layoff.fyi, over 2,120 tech companies worldwide have laid off nearly 405,000 employees. In 2023, the trend continued, with 240,193 tech workers losing their jobs as of October 13. On average, that's about 555 employees losing their jobs every day over the past two years, or 23 workers every hour.
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What is the Netflix Keeper Test and how does it impact talent management?
- The Keeper Test is a controversial talent management technique used by companies, notably popularized by Netflix. It involves asking the question: "Which employees would you fight to keep if they were leaving for a competitor?".
- Advantages of the Keeper Test include retaining top performers, improving performance, cost savings, and crisis decision-making, but it has significant disadvantages, including a fear-driven culture and unconscious bias.
- An alternative approach focuses on upskilling, an inclusive culture, effective performance communication, respectful layoffs, and improved hiring techniques.
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The 3 skills you need to have to grow your career in the age of AI, according to Databricks VP
- Embrace Change: Be ready to step out of your comfort zone and adapt to evolving job requirements.
- Value Human Interaction: Develop strong in-person communication skills and build your personal brand to stand out in a world where AI enhances productivity.
- Stay Humble and Keep Learning: Constantly re-tool and expand your knowledge to remain relevant as career prospects evolve. Past success doesn't guarantee future success.
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India among world’s worst countries to work remotely: Global Remote Work Index
- India is ranked 64th out of 108 countries for remote work, falling 15 places due to weak digital infrastructure and social safety.
- The GRWI assessed countries based on cyber safety, economic safety, infrastructure, and social safety.
- India's digital infrastructure (77) and social safety (74) are major weaknesses, with underdeveloped e-infrastructure and expensive, low-quality internet.
- India is cost-effective with low living costs, but its healthcare system is poorly rated (93).
- The top 10 remote work-friendly countries are Denmark, Netherlands, Germany, Spain, Sweden, Portugal, Estonia, Lithuania, Ireland, and Slovakia.
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What Really Happens When You Threaten to Leave Your Job?
- Threatening to quit over another job offer can backfire, especially if it catches your manager by surprise.
- Frequent complaining may lead your manager to welcome your departure as an end to ongoing dissatisfaction.
- If your actions suggest you've already decided to leave, your threat may not be taken seriously or seen as a last-ditch effort.
- Instead of threats, consider open negotiation, clearly defining your value, and having professional discussions with your manager to address job concerns.
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Musk an 'Engineer,' Bill Gates a 'Leader': New research reveals founder personality traits
- The study identified six distinct founder personality types, including "leader," "accomplisher," "operator," "developer," "fighter," and "engineer."
- Bill Gates is cited as an example of a "leader" personality type, known for his openness to adventure. Melanie Perkins, co-founder of Canva, exemplifies this type with her determination and adventurous spirit.
- Jeff Bezos is classified as an "accomplisher" due to his meticulous planning and long-term vision, which contributed to Amazon's success. Elon Musk is characterized as an "engineer" with limitless imagination and profound intellect.
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Half a Million Employees Will Be Forced Back to the Office by January
- Approximately 500,000 employees will be required to return to the office by January, with variations in requirements among different industries. This decision comes after a previous return of one million employees to in-person work, signaling a potential reversal of the trend of reduced office space.
- Office-using industries have increased their workforce but reduced office space, but this trend might pause as remote hiring decreases.
- Office landlords, facing maturing loans and increasing vacancies due to expiring leases, are encouraging a return to the office.
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Soon, you may convert your work experience into a degree
- The National Credit Framework (NCrF) in India is considering a proposal that allows individuals to convert work-acquired skills into credits toward undergraduate or postgraduate degrees.
- Recognition of Prior Learning (RPL) is a key element of this proposal, where skills gained outside traditional academia can be recognized as credits, potentially eliminating the need for attending certain classes.
- Institutes willing to offer RPL credits must seek approvals, consult with professional bodies, and determine the percentage of credits in alignment with the curricular structure set by the UGC or the university.
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Frustrated employee lashes out at senior after being asked to work over the weekend
- A junior employee confronts a senior during a virtual Zoom meeting after being asked to work over the weekend to complete a report.
- The senior employee asserts the necessity of completing the report, while the frustrated junior, Nikhil, accuses the senior of frequently assigning weekend work, deeming it unfair.
- A heated exchange ensues, with the senior emphasizing respect in communication, and Nikhil responding that the senior should also speak respectfully.
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Employers confident AI to fuel job growth; how will hiring take shape in India?
- Indian employers are upbeat about AI, with over 85% expecting it to create new jobs in 1-5 years. Jobseekers also show optimism, with 63% believing AI will enhance productivity and skills.
- Jobseekers express concerns about reskilling needs (43%), potential job losses (29%), ethical issues (20%), well-being (17%), and bias (15%) due to AI.
- HR professionals (90%) and jobseekers (78%) believe AI will improve the hiring process. However, 50% of jobseekers worry about AI replacing human judgment in hiring decisions.
- India leads in AI adoption, with 98% of HR professionals and 91% of job seekers using AI tools.
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Top habits of successful people who never work hard
- Prioritize Smartly: Focus on essential tasks that align with your goals to achieve more with less effort.
- Delegate and Trust Others: Master the art of delegation to empower your team and optimize productivity.
- Take Time to Recharge: Schedule regular breaks and downtime to maintain productivity and well-being.
- Cultivate Gratitude: Practice gratitude daily to maintain a positive outlook and appreciate what you have.
- Maintain a Healthy Work-Life Balance: Prioritize work-life balance for improved productivity and overall success.
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Death of the resume? Companies shift focus to innovative hiring approaches
- Resumes are losing relevance in hiring as companies turn to alternative methods like social media and personal networks to find ideal candidates.
- Technology and standardized resume templates have contributed to a decline in trust, with 85% of people reportedly lying on their resumes.
- Job descriptions emphasize behavioral traits (92%), but only 38% of resumes mention them, causing a mismatch in candidate evaluation.
- Assessment-based hiring is preferred to reduce biases, with 44% of traditional resume-based hiring processes showing biases. Recruiters now prioritize skills and independent evaluation scores over traditional factors like job stability and keyword matching.
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