For the last few weeks, we've focused on the hiring market and shared information showing a slowdown, at least in some sectors. You can read the letters on our blog page.
This week, the Wall Street Journal confirms the gradual cooling with the March jobs report data. The supply of people looking for work is improving. Many of our clients have slowed hiring due to supply chain issues and delays in projects and expansions. Very few have been conducting layoffs. Retirements have been slower, probably due to lower 401k values.
The lull is temporary. Demographics are destiny.
Some managers are dissatisfied with new workers from GenZ. The complaints are similar to what we heard when the Millennials, X'rs, and Boomers were new to the workforce. There is no evidence this generation has less aptitude than prior generations. Our challenge is the market itself. There are fewer people in GenZ.
You will need skilled workers to replace retirees. That will require hiring earlier to allow time for the training process. You might gain a little confidence in this generation from a recent article, "Your GenZ Co-worker is Hustling More Than You Think."
Hiring early is the best approach right now. Look for less experienced candidates with good character and the right aptitudes. They will gain experience in time for the next upturn.
Use the best tools to thrive. You can discover who has the aptitude and attitude for a specific job and maintain a strong culture by keeping everyone connected. We can help you develop the skills, leaders, and teams you need to succeed.
Our assessments and surveys are world-class and statistically sound. Contact us, share your concerns, and see how we can help you. No charge, no obligation.