Posts Tagged ‘unemployment’

The Next Revolution in People Strategy May Not be so Much about People

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The problems of workers finding jobs will be exacerbated by the expansion of cognitive technologies  …thinking robots, if you will. Michael Graham looks at how the cozy synergy between increased automation and worker productivity (resulting in increased wages and job opportunities) seem to have derailed, leaving many workers un-and under-employed and the middle class at risk of obsolescence.


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“If something cannot go on forever, it will stop.” Herbert Stein

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Expert Perspective from Grahall’s OmniMeida Editorial Board

There are two paths to profitability:  growth and cost reduction.  In the financial services industry especially (all though not exclusively) where compensation cost might represent 50% or more of expenses, cost reduction in the manner of headcount reductions can be an effective  approach to corporate revitalization.  
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Seven Careers? We Agree: That’s just nonsense

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Expert Perspective by Grahall’s OmniMedia Editorial Board

In his September 4, 2010 article for Wall Street Journal (Seven Careers in a Lifetime? Think Twice, Researchers Say Carl Bialik sensibly questions: “Do Americans really go through careers like they do cars or refrigerators?”

Likely high school and college students asking the question “Fries with that?” do not consider that job, however well paying, to be a career,  And when these same individuals complete their education and go on to be an investment banker they wouldn’t think of the move from “burger flipper” to investment banker as a “career change” .  A job change, yes, a career change, NO.

Likewise the executive compensation consultant who has toiled for some years at Firm A and is recruited to Firm B to do similar work in a new environment (probably with more pay) would also not likely see that as a career change.  A job change, yes, a career change, NO.

So, is the question of career change even really relevant?  We think the confusion over the term “career change” vs. “job change” vs. “whatever ever else people are doing” may be nothing more than an issue of semantics. But the fact that Americans move around with some frequency is relevant to both employees and employers.   
 
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Filed under: Expert Perspective - Organization Development



Unemployment: Who or What is to Blame?

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Expert Perspective from Grahall’s OmniMedia Editorial Board

At the risk of going “off the ranch” and getting into topics that are fraught with politics, our Editorial Board reviewed and discussed Robert Barro’s August 30, 2010 article for the Wall Street Journal (The Folly of Subsidizing Unemployment).

Mr. Barro had much blame to pass around for the continuing high unemployment in the US, landing most squarely on “the expansion of unemployment-insurance eligibility to as much as 99 weeks from the standard 26 weeks.” 

This may be an argument that only history will be able to resolve.   But from a “compensation” perspective, unemployment checks are a form of incentive pay. 
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Our Notions on Investing – Getting a Little Banged Up?

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Expert Perspective by Grahall’s OmniMedia Editorial Board
 
Graham Browley writes in his August 21, 2010 article for the New York Times
(In Striking Shift, Small Investors Flee Stock Market) that  “The notion that stocks tend to be safe and profitable investments over time seems to have been dented in much the same way that a decline in home values and in job stability the last few years has altered Americans’ sense of financial security.” 

This recession has been unusually deep, with unemployment remaining stubbornly high as companies lay off workers and jobs move overseas to cheaper labor markets.  It’s not your “grandmother’s recession” (of the 1960s) or even your “mother’s recession” (of the 1980’s) for that matter.   In this one, the marked difference is that, from the late 1980s on, more and more Americans became investors in the stock market through their 401(k) plans. 
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Broader Measure of Unemployment Stands at 17.5%

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Published in The New York Times November 7, 2009by David Leonhardt
 
For all the pain caused by the Great Recession, the job market still was not in as bad shape as it had been during the depths of the early 1980s recession — until now.
With the release of the jobs report on Friday, the broadest measure of unemployment and underemployment tracked by the Labor Department has reached its highest level in decades. If statistics went back so far, the measure would almost certainly be at its highest level since the Great Depression.

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Labor Market Continues to Send Mixed Signals

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Published in SHRM October 22, 2009 by Steve Bates 
 
 HR professionals are gaining confidence in the U.S. job market. They hope to start hiring again. They just don’t know when.
One-third of HR professionals surveyed by the Society for Human Resource Management (SHRM) have some level of concern about the U.S. job market for the fourth quarter of 2009, with 35 percent saying that they are somewhat optimistic and 4 percent declaring themselves very optimistic about job growth in the nation for the last three months of the year. That’s a big change from the first quarter of 2009, when 73 percent of survey respondents expressed some level of pessimism.

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Wall Street 40% Bonus Rise Feeds Spending on $43 Steak, Co-ops

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Published in Bloomberg October 20, 2009  by Martin Z. Braun 

40 percent jump in Wall Street bonuses this year may bring relief to New York City and Albany as the state and its biggest metropolis struggle with a combined $14 billion in budget deficits this fiscal year and next.
New York investment houses will dole out $26 billion in bonus checks by the end of March, said Alan Johnson, president of compensation consultant Johnson Associates Inc. The money will probably boost sales of multimillion-dollar co-op apartments and generate extra income-tax revenue for state and city governments.

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Businesses Quick to Fire, Slower to Hire

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Published in The Wall Street Journal October 2, 2009 by Mark Gongloff

The labor market is expected to look marginally less terrible when the Bureau of Labor Statistics releases September employment data Friday. Economists think nonfarm payrolls shed 175,000 jobs last month, the lowest count since August 2008, though — with this week’s economic data — some worry the numbers could be worse. The economists think unemployment ticked up to 9.8% from 9.7%, the highest since 1983.

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Pace of Job Losses Sets Stage for Quick Labor-Market Rebound

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Published in The Wall Street Journal, August  10, 2009 by Justin Lahart

The rapid pace at which businesses shed jobs during the recession comes with a flip side: Workers will need to be hired back quickly as the economy improves.

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Filed under: Newsfeeds