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5.5 million Americans launched their own business in 2023 - a record year! I'm proud to be among that number, but it does have me wondering about current employers and how they are managing to retain their talent. It seems that the top performers are the ones stepping away from the traditional 9-5 and starting their businesses. And this shift is happening across all industries. What does this mean for employers? Top performers no longer depend on you as they did 5-10 years ago. The ability to work online from anywhere has never been easier or more accessible. The market is evolving rapidly, and your top performers have different expectations. They want: * Growth Opportunities: They want to see a clear path for advancement. * Side Hustles: They desire the flexibility to pursue additional ventures. * Drive and Ambition: They are motivated and constantly seeking new challenges. * Building on the Side: They want the freedom to develop their own projects alongside their job. * Flexibility and Trust: They seek jobs that offer flexibility and trust and transparency. Employers must change—period. If you haven't done so already, it's time to ask your best people what they want. Do it before it's too late.

You don’t last long in an industry if you’re only thinking about today and tomorrow. This mindset has helped us through the past 50 years and will propel us into the next 50. Undoubtedly we’ll face challenges - from emerging technology to evolving market conditions - but there’s one thing we know for certain: human interaction, personal connection, and relationship-building isn’t going anywhere for us. Read more about our 50 years of success: https://lnkd.in/gVmKx7En

Check out this new piece from McKinsey & Company, which focuses on the labor needs of the semiconductor industry in the United States, which is expected to create up to 160,000 jobs in the coming years. In spite of this predicted expansion, the field has actually experienced labor attrition in recent years, creating a massive labor shortage and talent gap. As a result, workforce development providers across multiple states now have a tremendous opportunity to train and connect jobseekers with well-paying technical and engineering jobs in this rapidly growing industry. Learn more below:

The largest employer in the world is not who you think is! 🌍 The US DoD employs more than 2.86M people. Walmart is close with 2.2M. 🏢👥 But they are NOT the largest employers. The largest employer in the world is — INEFFICIENCY. 🚫💼 Yea, that was a trick question. Inefficiency is why 90% of US workers have jobs. . . . The most common business inefficiencies: 1. Operational ⚙️ — when businesses do not manage their operations effectively i.e. inefficient production/recruitment/GTM processes, poor supply chain management, etc. — Wasted resources, extended timeframes, and increased costs. — For e.g., Toys "R" Us $6B ('17) 🧸📉 2. Financial 💸 — Poor capital management, suboptimal investment decisions, and ineffective financial controls. — High costs of transactions, poor cash flow management, and inadequate credit management. — For e.g., Enron $70B ('01), Lehman Brothers $60B ('08), SVB $44B ('23) 💹💥 3. Organizational 🏢 — Bloated organizational structure and management. — Excessive bureaucracy, lack of internal communication, and poor HR/Talent management → disengaged employees. — For e.g., Borders Group ('11) 📚 4. Technological 💻 — Underutilization or inappropriate selection of technology within a company. — Legacy tech that does not align with the company’s strategic goals. — For e.g., Kodak $30B ('12) 📷 5. Innovative 🌟 — When a company fails to innovate or adapt to market changes. — Slow response to consumer demands, market trends, or advancements in technology, leading to lost competitiveness. — For e.g., Blockbuster $5B ('10) 🎬📼 . . . What an incredible time to be a working professional with AI by our side to improve existing business inefficiencies! 🤖💡 What inefficiencies are you most excited about solving? 🔍 #BusinessEfficiency #OperationalExcellence #Innovation #AIinBusiness #FutureOfWork

Thought to ponder over the weekend, how are businesses continuing to project growth over the next five years? Growth will mean more positions open, with even lower ratios. If you can't afford the top tier of the workforce market, what will you need to do?

As we approach the end of Q3, it's evident that there's a shift in the job market. The initial half was solid.  However, as Q3 closes, organizations are more cautious, with increased focus on budgets (this happens every year), of course, this year we've also seen increased redundancies. This can lead to employers pausing on talent strategy, no longer building relationships with Recruiters and ultimately, failing to prepare for the market to turn again. Think back to the "Great Resignation" - many businesses found themselves unprepared and panicked. Resulting in increased spends, and in some cases reduced standards. Will this happen again? Likely. This year will be my 10th year in Recruitment, I'm noticing market cycles are more rapid each year. You may think that your current employees are secure, that because redundancies are happening, and the market is quieter they won’t be looking to make a move. The reality may surprise you.           Every day, I interview people who’s employers see them as fundamental to business operations. These people are in fact biding their time and will move when the right role is presented. Consider this scenario: a team of 6 is reduced to 2 due to restructuring. Would the remaining 2 members feel optimistic and engaged? Unlikely. Plus, the same amount of work needs to be done. So, the last 2 standing become overburdened, under resourced, and more transactional than strategic. They feel restricted, stagnant, and even like their careers are regressing. Fast forward to Q1 next year, new budgets will be released, and like every year, things will start with a bang. These 2 people will have been patient, and even though they’re business critical, and they have so much IP, before you know it, they will be gone. So, you need to be ready, continue to partner with Recruiters, we have so much intel to share! Keep your finger on the pulse, know the market, and don’t fall behind. #AsliRecruits #MarketIntel #Brisbane #Recruitment

It's great to hear about the increased demand for top-level professionals in the consulting market and the shift in hiring sentiment that James O'Dowd reports. Apparently, the demand for talent has rebounded more quickly than many anticipated. But remember: A consultancy with a poor value proposition leads directly to a weak employer value proposition. When a firm's market differentiation and unique expertise aren’t clearly communicated, it might struggle to attract high-caliber talent. Top professionals seek out organisations recognised for their leading thinking and (proven) specialised capabilities. Without a compelling value proposition that sets the consultancy apart, it fails to build an appealing employer brand, ultimately limiting its ability to attract and retain the best talent—the core of any successful professional services firm. Thanks, James, for sharing the news. #consulting #consultants #consultancy #managementconsulting

“This strategy opens up the recruitment pool, allowing employers to recruit for soft skills and "train up" for desired competencies. Relying more on key competencies needed for each job makes it easier to align new hires to the right internal and external training programs and the certifications needed for your workforce. This is a way to build a robust talent pipeline that also improves the diversity of candidates available to you. Furthermore, it has the potential to make a significant social impact, opening career pathways to workers who do not have college degrees but have terrific potential.” Thanks, Craig Sprinkle and Fast Company Executive Board for your insights. #DegreeInflation #FutureOfWork #DiversityAndInclusion #DEI #SocialFactor

The myth of the big tech magnet We've all heard the allure of the tech giants - the promise of working at the forefront of innovation with some of the brightest minds in the industry. However, a growing trend has emerged: these major companies increasingly rely on their brand prestige to attract talent without offering competitive compensation packages. Talented professionals aren't just seeking brand names; they value competitive salaries that reflect their expertise and contributions. When these companies prioritize their reputation over fair compensation, they lose out on the top-tier talent that drives true innovation. It's time for a shift. Companies, no matter how big, need to recognize that fair pay is non-negotiable for attracting and retaining the best minds. Talented individuals deserve to be rewarded adequately for their skills and hard work, not just enticed by a brand name. Let's advocate for a tech industry where talent is valued, respected, and fairly compensated. #techindustry #talentacquisition #faircompensation #innovation

With companies like Apple, Google, JP Morgan, Amazon, and Microsoft ranking as the world’s top five most attractive employers amongst the emerging talent pool of Business students last year, it makes me wonder what they are doing differently to everyone else? We all have to tackle similar challenges - from diversifying our pipeline strategies, addressing inclusion and diversity, and adapting to innovation and new technologies to name just a few. And this is something we have been reflecting on here at Tomorrow Advertising with the start of the new year. But today, I’m curious, what were your biggest challenges in 2023 and what do you need to do differently to become the most attractive employer in 2024?   #EmployerBranding #Recruitment #Marketing