Peoplelink Group’s Post

About 27 percent of U.S. workers quit their jobs in 2023, costing employers nearly a trillion dollars to replace them, according to a common turnover calculation. The top three reasons for leaving a job are lack of career opportunities or development, health and family issues, and a work/life imbalance. We can resolve these issues. #worklifebalance, #employeeturnover, #careerdevelopment, #employeehealth

Key Findings: In short, the labor market is shrinking. Individual employees are gaining more freedom in their career choices. High performing employees are looking at careers not lateral transfers.     Workplace Litigation on the Rise: Labor-related class-action lawsuits against employers jumped from 25.6% in 2021 to 43.4% in 2023, according to 2024 Carlton Fields Class Action Survey  Workplace lawsuits increased 50% from 2022 to 2023, according to the Equal Employment Opportunity Commission Shrinking Talent Pools:  U.S. population growth has fallen short of the 2.1 replacement rate, with the birth rate around 1.6, according to the National Institute of Health  10,000 baby boomers are retiring each day, according to Forbes  7 million working-age men remain out of the workforce, according to CBS News Unreliable Gen Z Workers 68% of employers say Gen Z employees are the least reliable, according to the Freedom Economy Index  64% of employers report Gen Z workers are most likely to cause division and toxicity in the workplace, according to the Freedom Economy Index Solutions: According to Money.com, employees who are dedicated, responsible and committed to doing quality work are more likely to produce better results and achieve higher levels of success.  Employers need to focus their hiring strategies on finding the right “values” and cultivating workplace culture anchored by a mission-driven meritocracy that values work, rewards productivity and achievement, and promotes a shared sense of purpose.

The U.S. Chamber of Commerce published some unfortunate findings in their "Understanding America’s Labor Shortage" report published last month. It states that women are participating in the labor force at the lowest rates since entering the labor force in meaningful numbers in the 1970s. Additionally, the women’s labor force participation rate has not fully recovered to its pre-pandemic rate or to when it was at an all-time high of 60.2% in early 2001. The report states a large part of this is due to the lack of childcare.    We hear too often the impact that the ongoing worker shortage is having on organizations across industries.    #digitaltransformation holds significant promise in addressing the longstanding struggles organizations face in hiring, particularly women and parents, by leveraging technology and digitization to support flexible and remote work arrangements.    #remotework #hiring https://lnkd.in/gev8B-X5

This is a difficult problem, in part because it is a taboo topic, in part because it's complex and can't be reduced to something simple. If the taboo could be dispelled and the issues could be looked at more objectively (meaning moving beyond the issue of ageism/bias to the facts of the case), then the problem could be analyzed and more realistic conclusions can be drawn (helping to further dispel bias). These conclusions may not be to the liking of many aged workers, who believe that solving the ageism/bias problem is the solution that will take care of everything. The real problem (the difficult one) is defining, in a granular way, the realistic role(s) and potential contributions of older workers in the labor economy given what they bring to the table vs. what is needed. That is, in effect, creating a functioning, efficient labor market that reconciles demand for workers and the supply of aged workers, if that's possible. I think finding out only happens when employers try to examine the problem. If employers are not willing to do so, most likely they calculate that the value is just not there. So while aged workers may want to solve the problem and get more work opportunities, it may be that employers just don't see a positive ROI in even trying to define it.

In this edition of the EWD Pulse, we are looking into the IRe-Valuing Labor: Reforms for Workers. Click the link below to read the full article! https://lnkd.in/edXGuP3c Corporations aren’t the only entities that are questioning how ‘work’ should be valued in the post-COVID environment. Workers are also revising their relative merit within their employers’ organizations and realizing that they want and need more than just a paycheck from their jobs. Over 48 million Americans left their jobs in 2021, and over 50 million did the same thing in 2022, a development now known as the Great Resignation. Gartner labels the phenomenon driving the exiting workers the ‘Great Reflection,’ as they seek more meaning in how they spend their time; old-style occupational valuation makes them wonder if the ‘nine-to-five’ obligation is still worth their effort. Companies looking to retain their experienced workforce and slow the talent and human resource drain are now also seeking ways to respond to the increasing demand that ‘working’ should also afford ‘meaning.’ . . #workforcedevelopment #socioeconomic #economicmobility #studentsuccess #communitycollege

📉 The Impending Labor Shortage 📉 As businesses prepare for the future, an emerging labor shortage is on the horizon. With baby boomers retiring and fewer people entering the workforce, employers need to think about how they will fill the soon to be open roles. This is a critical moment to invest in technology, diversify talent pools, and focus on training programs to close the gap. 🔧👩💼 How is your organization preparing for these workforce changes? 🤔 #TalentAcquisition #LaborShortage #FutureOfWork #HR #Recruitment #TalentStrategy

🤼 Tackling the U.S. Labor Shortage: Key Insights and Solutions from the latest U.S. Chamber of Commerce report. As any hiring manager knows - the labor shortage remains a critical issue in the U.S., with 1.7 million fewer workers compared to pre-pandemic levels and 8.1 million job openings. The decline in labor force participation, has been influenced by early retirements, reduced immigration, childcare challenges, new business starts, increased savings, and the Great Reshuffle. To address these challenges, a great employee experience is essential for attracting and retaining top talent. 👉 How is your organization handling the labor shortage? Read the full article here: https://lnkd.in/gEG8Jsk2 Technology plays a pivotal role, and workplace experience tools like Rendezvous Workspace can streamline your hybrid or in-office experience. Learn more at myrendezvous.net #EmployeeExperience #WorkplaceTechnology #HybridWork

The labor market is evolving, and businesses must adapt to attract and retain top talent. As employers, it's crucial to understand the current trends shaping the workforce. The U.S. Chamber of Commerce is leading the way, offering solutions to help businesses remain competitive. From expanding childcare access to offering innovative benefits and reskilling opportunities, we're committed to supporting the workforce of tomorrow. 👉? Are you ready to be part of the change? Discover more about the America Works Initiative and join us in driving forward-thinking solutions to today's labor market challenges. #businessowners #businessowners #familybusiness https://lnkd.in/geKMGEmh

great piece on the labor force...things are improving for the better and companies need to keep up! #labormarket #employment #employeeactivation #dynamicorganizations

There are so many reasons why hiring 'older' workers can benefit your business, and this article https://lnkd.in/eVigSJZ6 highlights some of them: - Increased diversity - Earned experience - Developed skill sets - In-house mentoring - Higher retention rates The article also poses the question 'How to recruit older workers'? And this is where O50C can help your business - as we specialise in Age Diversity recruitment. Please reach out to me if you would like to know more. #agediversity, #diversityintheworkforce, #over50s