Share to Twitter Share to Linkedin Two and a half years after the start of the "world’s largest work-from-home experiment" we’re still debating where people should work. Most employers have settled on a hybrid model that offers flexibility. However, some companies are still pushing for a complete return to the office and, in extreme cases, are going as far as to suggest that people who want to continue working from home should take a lower salary for the privilege. But in a talent-short market where demand for flexible working is high, does this approach make sense? Does it ever? The Hybrid Penalty The concept of location-based pay isn’t new. Workers in urban centers such as New York and London have long received a higher salary to reflect the higher cost of living. However, is it right that employees should earn less if, rather than commuting to the office five days a week, they spend a few days working from home or another remote location? Some … [Read more...] about Employers, Insisting Your People Return To The Office Full Time Comes At A Cost
- A + A TOKYO/SYDNEY/LONDON (Oct 3): Governments and companies around the world are facing unprecedented costs to refinance bonds, a burden that’s set to deepen fissures in debt markets and expose more vulnerabilities among weaker borrowers. A corporate treasurer or finance minister looking to issue new notes now would likely have to pay interest that’s about 156 basis points higher on average than the coupons on existing securities, after that gap surged to a record in recent days. That all adds up to about US$1.01 trillion in additional costs if all those securities were refinanced, according to calculations using a Bloomberg index tracking some US$65 trillion of government and corporate debt across currencies. That broad benchmark of global debt lost 6.8% last quarter, its second-worst drop after a record slide in the previous three months, data stretching back to 1999 show. Monday brought little relief, with spreads on Asian high-grade dollar bonds little … [Read more...] about A US$1 tril burden looms for world borrowers refinancing debt
- A + A NEW DELHI (Oct 3): India's unemployment rate dropped to the lowest in more than four years in September, buoyed by a strong rise in new jobs, according to a private research firm. The jobless rate sharply fell to 6.43%, data from the Centre for Monitoring Indian Economy Pvt showed. The reading is the lowest since August 2018 and compares with a one-year high of 8.3% in August. The decline comes as nearly 10 million jobs got added during the month, defying the trend in August when workers who entered the job market could not find work. In rural areas, the unemployment rate declined to 5.8% from 7.7% in August, while in urban areas it stood at 7.7%, lower than 9.6% in the previous month. The latest data comes against the backdrop of India's festive season which typically boosts economic activity and aids jobs growth. A strong demand in the service sector along with steady monsoon rains also likely boosted employment opportunities. But risks loom large … [Read more...] about India jobless rate drops to four-year low before festival season
Reopening more productive sectors would keep the Philippine economy afloat despite external risks, such that the Asian Development Bank (ADB) hiked its 2022 gross domestic product (GDP) growth forecast for its host-country to 6.5 percent. However, the Manila-based multilateral lender expects high consumer prices to linger until next year and pose downside risk to growth. The ADB’s Asian Development Outlook (ADO) Supplement report for July 2022 released on Thursday showed a higher GDP growth projection for the Philippines than 6 percent previously. The updated forecast was at the lower end of the Marcos administration’s downscaled 6.5-7.5 percent growth goal for this year. Across the Asia-Pacific, this year’s ADB growth expectations for the Philippines was among the optimistic, just behind India’s 7.2 percent and matching Vietnam’s. “The growth forecast for the Philippines is raised for 2022 on a stronger-than-expected first-quarter performance, underpinned by rebounds in … [Read more...] about ADB sees high inflation lingering until 2023
Share to Twitter Share to Linkedin Ryan Lucia, Founder of Such n Such Media & Aaron Overhead Doors. Ryan is an entrepreneur, speaker, podcast host, and consultant. To attract top talent, business leaders consistently tout their company culture as amazing, forward-thinking and welcoming to all people. And yet, according to a 2022 survey , toxic company culture is the number one reason for the many employees who quit their jobs in 2021 and 2022. Are business leaders so disconnected from the daily operations of their company, or do they genuinely feel their company culture is good even when it’s not? My Experience With Poor Company Culture Before starting my own business, I worked for a company that was eventually acquired. After the acquisition, the new leadership called a companywide meeting and explained that they wanted to prioritize mutual respect and build more meaningful relationships among employees and between employees and … [Read more...] about Every Company Has A Culture; Is Yours Good Or Bad?
Share to Twitter Share to Linkedin Kevin Markarian is the cofounder of Roopler , an AI-driven lead generation platform built for the real estate industry. Over the past two years, finding outstanding talent has been challenging, especially for startups competing against established companies able to offer large signing bonuses and highly competitive salaries. As of this spring, the job market started to shift, with many companies—including some of the largest players—letting go of hundreds of employees. In real estate, both Compass and Redfin have let go 8% to 10% of their workforces. However, some of the largest cuts have impacted companies that seemed unstoppable just a year ago, including the fitness company Peloton, which has let go more than 20% of its workforce since the beginning of the year. So, how can startups and smaller businesses attract and retain the great talent that is suddenly back on the job market? 1. Let go of … [Read more...] about How And Why To Recruit Recently Laid-Off Talent
Share to Twitter Share to Linkedin 16% of survey respondents had quit jobs due to stress. (Photo: Getty) Getty A people-management-tip a day, every weekday in 2019. One of the more subtle but less desirable qualities of a manager is the tendency to cause stress. Sure, all managers are capable to some extent of inducing stress; work is inherently stressful. But there are huge variances; some managers are chill and generally easy to work for, and some are stress magnets. The good news is if you're fortunate enough to have a low-stress manager, it can make a real positive difference in your daily experience of work. The bad news is from a macro-level the workplace stress needle is moving in the wrong direction. A recent survey from Korn Ferry , " Workplace Stress Continues to Mount ," examined this trend. Following are some key stats from it. The biggest source of stress What's the biggest source of stress at work? No surprise: … [Read more...] about Workplace Trend: Stress Is On The Rise
Share to Twitter Share to Linkedin Andy Techmanski (center) briefs a Whitefish crew on the ground in Puerto Rico. Courtesy Whitefish Though Puerto Rico canceled his controversial contract last weekend, Whitefish Energy CEO Andy Techmanski is still working to restore the island’s power — and his reputation. Just days after Hurricane Maria devastated Puerto Rico, Andy Techmanski, the CEO of Whitefish Energy, arrived and offered his assistance to the Puerto Rico Electric Power Authority (PREPA) to help repair the island’s devasted power grid. He first connected with PREPA after Hurricane Irma’s glancing blow a few weeks prior had knocked out power to parts of the island. Then Maria completed the devastation. Techmanski was ready to get to work. After two decades building power transmission systems across the U.S., U.K., Middle East and western Canada with the likes of Quanta Field Services, Techmanski launched Whitefish three years ago … [Read more...] about Is That $300 Million Puerto Rico Power Contract ‘Whitefishgate’ Or Just a Red Herring?
Share to Twitter Share to Linkedin Job seekers in California will no longer have to take a shot in the dark when asked about their salary expectations. Effective January 1, 2023, employers with fifteen or more employees will soon be required to post the minimum and maximum salary range for any job within the state. The state’s pay transparency law aims to help alleviate sex-based wage disparities by establishing a level field for pay practices. Since 2018 all employers in California have been required to disclose a position’s pay scale to applicants for employment upon request. While that requirement will remain in place, California’s State Bill 1162 amends Labor Code Section 432.3 and requires that employers with fifteen or more employees also include a pay scale in all job postings, including those posted on third-party platforms. A pay scale is a salary or hourly wage range that the employer reasonably expects to pay for the position. California … [Read more...] about Job Seekers In California Afforded Pay Transparency Under New Law
Share to Twitter Share to Linkedin This November, voters in five states—Arkansas, Maryland, Missouri, North Dakota and South Dakota—will decide on whether they want to legalize adult-use marijuana. Currently, 19 states, comprising 44 percent of the U.S. population, have legal adult-use marijuana markets. If voters in Arkansas, Maryland, Missouri, North Dakota and South Dakota approve adult-use, about half of the U.S. population will reside in a jurisdiction where the possession and use of cannabis are legal for adults. Because recent polling shows that most of these measures enjoy majority support from the public, experts are predicting a successful outcome at the ballot box for all aforementioned states, regardless of their being "red" or "blue." That does not mean that opponents might not employ "anti-democratic gamemanship to prevent voters from weighing in on the issue," said Paul Armentano, deputy director of NORML , in a statement . NORML is … [Read more...] about Voters In Five States To Decide On Legalizing Weed This November