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In an advanced economy, it’s typically a company’s workforce that sets it apart from its competition, meaning companies need to work hard to ensure they recruit and retain the top talent in the market. And just as companies compete for market share when selling their products or services, they also compete with other employers for […]
In light of the COVID-19 pandemic’s impact on the global economy, the true U.S. unemployment rate sits at an incredible 26.1%. What had been an employee’s market at the start of 2020 now seemingly favors employers. Yet, hiring in the current economy hasn’t become easier: Top talent, reluctant to leave relatively secure positions, has become […]
No event has impacted the economy as abruptly and with such speed as the COVID-19 pandemic, an occurrence that altered the way we live and work virtually overnight. In the span of a mere 8 weeks, unemployment shot from under 4% to nearly 15%.
One of the few guarantees in business, as with life, is that there will always be roadblocks, obstacles, stumbles, and setbacks. Plans don’t always work out as expected, goals aren’t always reached, and the competition sometimes prevails.
The current period in our collective economic development is often called the “Information Age” or referred to as an “information economy.” The Cambridge Dictionary defines this concept as “an economy in which knowledge, information and services are more valuable than manufacturing.” Companies in this economy treat information as both an input and an output of their business processes.
Have you reevaluated your employee benefits package since social distancing was implemented? It’s likely that your pre-pandemic perks, plans, and promises won’t hold up after COVID-19 passes. You’ll need new, creative benefits to retain talented employees and snag new superstars.
Companies worldwide spend huge sums of money on training and developing employees. In the United States alone, companies spent over $83 billion on employee training in 2019.
There’s an interesting ebb and flow that takes place in training circles as organizations are affected by economic impacts that place them in either an employer- or employee-driven labor market.
Employee training should not be a static approach to development. The skills and knowledge that might have helped a company thrive 20 years ago may be completely obsolete today or in a few years. For this reason, training has to be malleable and driven by the dynamic nature of the company, the industry, the market, […]
Connecticut’s minimum wage will increase on October 1 as the state begins a series of hikes that will eventually make the state’s minimum $15 an hour.