Inflation, rather than a hot job market, drove widespread job hopping in 2022, according to a working paper by experts from Columbia University, the Federal Reserve Bank of Atlanta, the University of Chicago and the University of Texas at Austin. The paper notes that rising prices forced workers to switch jobs and renegotiate wages, creating conditions that resembled a tight labor market, but real wages were 4.4% below expected levels, and growth in average hourly earnings was down for 25 consecutive months. Full Story: CNN (12/23)
Recruiting & Retention
HR to focus on AI, skills-based hiring in 2025 HR leaders are expected to focus on integrating AI and skills-based hiring into their processes next year, according to Korn Ferry research, although many talent professionals say AI falls short in identifying talent gaps. Other key trends include enhancing learning and development, maintaining flexibility in work arrangements and linking company culture more closely with employee experience to better delivers on promises made during recruiting. Full Story: HR Executive (12/23)
US life expectancy has risen to 78.4 years, nearing the pre-pandemic level of 78.8 years, as deaths from COVID-19 and drug overdoses decline, according to the CDC. Mortality rates decreased for all 10 leading causes of death, with significant drops in COVID-19, drug overdose and heart disease. Full Story: CNN (12/19)
Proposals to end federal income tax on tips gained traction as a campaign issue, but economists express skepticism about the idea, highlighting potential unintended consequences. They warn that the change could lead to disparities between tipped and nontipped workers and that it might encourage employers to shift more roles to tip-based compensation. Full Story: USA Today (12/23)
Leaders can escape career doldrums by building relationships, finding purpose and being authentic with employees, writes LaRae Quy, a former FBI undercover and counterintelligence agent. "Leaders can significantly improve their lives by focusing on self-awareness, developing meaningful relationships and committing to a life of value and purpose," Quy writes. Full Story: SmartBrief/Leadership (12/18)
Melissa Turner (pictured with a favorite colleague)
Hi, SmartBrief on Workforce readers!
When Kanoe Namahoe reached out to say she needed today off, I checked my calendar and was thrilled to see the timing was perfect. I've been itching to cover this newsletter - for lots of reasons, not least of which is the fact that I always benefit from reading and applying the content in my own work.
But I've also wanted to step in because I've got something I want to ask you … and Kanoe tells me this audience generously shares ideas and inspiration.
I'm leading a working group on cross-team collaboration to better support my colleagues here at SmartBrief, Future B2B and Future PLC. Workforce leaders probably know better than most how collaboration across functions and teams can make or break efforts to achieve business goals. I've been reading and learning as much as I can, but there's nothing better than real-life lessons.
So, my questions: What makes collaboration work in your organization? What barriers do you run into, and how have you overcome them? Are there models you like, books you recommend or assessments you find helpful? Please drop me an email. I'd love to hear anything that comes to mind.
And in the spirit of collaboration, I'll be sure to raise my hand to cover for Kanoe again soon, so I can share what I've learned from all of you!
SmartBreak: Question of the Day
It might be hard to believe -- especially when buying groceries -- that the metric system is the preferred system of weights and measures in the US. Who signed the Metric Conversion Act?
