Expledge.com Employment Agency’s Post

White-Collar Workers Are Holding Onto Their Jobs While Fearing The Worst By Jack Kelly There is a looming sense of job insecurity that is preventing workers from job hopping. Amid last year’s widespread layoffs, 6.1 million fewer Americans—a 12% decrease—quit their jobs than in 2022, according to the United States Bureau of Labor Statistics. In December, the U.S. quit rate plummeted to the lowest monthly level in three years, signaling a departure from the Great Resignation trend that took hold after the pandemic. Amid economic uncertainty and the potential for automation to take away jobs, white-collar workers are worried about holding onto their jobs. In a 2023 job market survey by Professional Résumé Writers, nearly half of workers self-reported that they were concerned about losing their employment, with executives exhibiting the most worry (66%). Throughout mid-2022 to 2023, major companies announced robust workforce reductions, eliminating thousands of roles all at once. The labor force is now experiencing a shift from large-scale layoffs to more gradual, staggered job cuts. Just two months into 2024, more than 33,000 workers have been let go in the tech sector alone, according to Layoffs.fyi. https://lnkd.in/gbdsjzZb

Navigating the Changing White-Collar Job Market. The landscape of white-collar jobs is shifting, and it’s essential to stay informed. Here’s what you need to know: Changing Hiring Dynamics: We’ve come a long way from the hot hiring market of a couple of years ago. Back in August 2022, new hires were enjoying average raises of about 8.4%. However, recent trends show that only 58% of job changers are now getting more pay, down from 70% last year. Negotiating leverage has decreased, and counteroffers are rarer. Employer’s Advantage: Hiring managers have their pick of well-qualified candidates. Companies are being more selective, impacting pay negotiations. Expect raises to slow down in 2025, with median raises projected at 3.9%, down from 4.1% this year and 4.5% in 2024. Adapt and Thrive: As a job seeker, adaptability is key. Consider expanding your search beyond traditional roles, explore remote work options, and focus on upskilling. Craft your LinkedIn profile to highlight your skills and willingness to learn. Remember, agility is your secret weapon in this evolving job market! #JobMarket #WhiteCollarJobs #CareerAdvice

Layoff anxiety has workers willing to take pay cuts to keep their jobs From quiet quitting to disquiet: Layoff anxiety has some workers ready to do more for less. With news of layoffs proliferating, a new survey finds that one in five workers would take a pay cut to keep their job. #jobs #careers #employees

An executive said, "We don't have the budget for the pay raise she's requesting." Human Resources Manager: "In that case, we should determine how best to accommodate it." CEO: "Wait, what? Why?" HR Manager: "We cannot afford to raise her pay, so she will look elsewhere for another role that pays her market rate if we don't. Therefore, it's important to remember that we are unable to cover the costs associated with finding, interviewing, hiring, compensating, and training new employees." Let's get straight to the point, leaders: The cost of retaining employees is lower than that of replacing them. You shouldn't be surprised if employees leave if you aren't paying them market rates or more. #hr #compensationandbenefits #layoffsupport #layoffs

While the push towards AI and latest technologies which lessens human efforts is good, but the organisations also needs to understand that your employees are also your consumers in one way or another. Lets say an IT firm decides to layoff 2000 people, those 2000 people who were laid off will now have to manage their finances and will spend less. This will in turn lower the demand of some products, causing lower sells and revenue for organisations associated with those products. Now those organisations will try to reduce their IT budgets leading to drop in revenue for IT firms. Its a continuous cycle. The same goes for hikes in salary, when there is no hikes, or hikes which are less than the inflation of that year, employees are forced to spend less which is also a cause for economic slowdown. The entire economy is dependent on consumption of goods and services.

Are HR Salaries Dipping Due to Layoffs and Transparency Trends? Answers: https://lnkd.in/gJT_-tEN #HRSalaries #JobMarketTrends #PayTransparency Hey everyone! 👋 I’ve been noticing something interesting lately regarding HR salaries on LinkedIn, and I’d love your input. Have you seen those advertised pay ranges for HR roles? 🤔 I’m talking about VPs listed anywhere from $80k to $120k, CHROs around $120k, and Directors ranging from $100k to $120k. It makes me wonder if companies are really taking advantage of the many talented professionals out there, especially with so many people affected by layoffs. Here are a few thoughts that crossed my mind: Supply and Demand: With an influx of laid-off professionals looking for jobs, companies might be leveraging this situation to offer lower salary ranges. They might feel they can afford to pay less given the competition for positions. Pay Transparency: It seems there's a growing trend towards transparency in pay. While this can empower job seekers, it might also inadvertently push salaries down, as companies align their offerings with what others are advertising. Return to Pre-COVID Pay Ranges: Are we seeing a ...

Are HR Salaries Dipping Due to Layoffs and Transparency Trends? Answers: https://lnkd.in/gwwkYdiq #HRSalaries #JobMarketTrends #PayTransparency Hey everyone! 👋 I’ve been noticing something interesting lately regarding HR salaries on LinkedIn, and I’d love your input. Have you seen those advertised pay ranges for HR roles? 🤔 I’m talking about VPs listed anywhere from $80k to $120k, CHROs around $120k, and Directors ranging from $100k to $120k. It makes me wonder if companies are really taking advantage of the many talented professionals out there, especially with so many people affected by layoffs. Here are a few thoughts that crossed my mind: Supply and Demand: With an influx of laid-off professionals looking for jobs, companies might be leveraging this situation to offer lower salary ranges. They might feel they can afford to pay less given the competition for positions. Pay Transparency: It seems there's a growing trend towards transparency in pay. While this can empower job seekers, it might also inadvertently push salaries down, as companies align their offerings with what others are advertising. Return to Pre-COVID Pay Ranges: Are we seeing a ...

I think the fear is real because the trends are real. Automation, while increasing efficiency and saving money, has the negative output of associate hours. While this can lead to an increase in profitability and overall working capital, history has shown this “extra” capital is largely hoarded or re-invested into similar cost saving technologies. While this reassignment of mundane tasks to ai or automation at first is as a companion to lower hierarchal associates; it may very well end up, bugs and all other tech issues included, being cheaper than an associate, their benefits, and facilities costs. As this technology flourishes and its use integrated into the workflow, I can see two questions being asked. The first is what happens when the hours saved and the hours billable start to conflict? If you’re saving so much money, why is this so expensive? The second is how long before the total disappearance of the storefront? The amount of client facing associates in every industry seems to be in decline as self service and automation take out low barrier jobs. As the technology climbs how high does this “low” barrier climb? How long before that barrier is just below what would be considered an expert opinion? I can’t predict the future, but I’m sure those that can with confidence are liars…

Are HR Salaries Dipping Due to Layoffs and Transparency Trends? Answers: https://lnkd.in/gqi4hXjn #HRSalaries #JobMarketTrends #PayTransparency Hey everyone! 👋 I’ve been noticing something interesting lately regarding HR salaries on LinkedIn, and I’d love your input. Have you seen those advertised pay ranges for HR roles? 🤔 I’m talking about VPs listed anywhere from $80k to $120k, CHROs around $120k, and Directors ranging from $100k to $120k. It makes me wonder if companies are really taking advantage of the many talented professionals out there, especially with so many people affected by layoffs. Here are a few thoughts that crossed my mind: Supply and Demand: With an influx of laid-off professionals looking for jobs, companies might be leveraging this situation to offer lower salary ranges. They might feel they can afford to pay less given the competition for positions. Pay Transparency: It seems there's a growing trend towards transparency in pay. While this can empower job seekers, it might also inadvertently push salaries down, as companies align their offerings with what others are advertising. Return to Pre-COVID Pay Ranges: Are we seeing a ...

Some great information here.