Workplace trends
42.3% of young Indian graduates are unemployed
More than 40% of Indian graduates under the age of 25 are currently unemployed, according to the State of Working India 2023 report. Some experts attribute this gap to the fact that graduates have higher aspirations, so if the economy is not generating the jobs and wages they’re looking for, they may choose to be unemployed while they wait. Others believe it could be because those getting graduate-level education come from higher-income households, which means they may have less pressure to immediately support themselves financially and can spend more time searching for a job that’s the right fit. Regardless, as the age of the graduates increases, the rate of unemployment falls significantly – down to 1.6% for those aged 40 and above. The author of the report, Amit Basole, concludes that graduates do eventually find jobs but that they may not match their skills and aspirations.
Stores hiring plans for the holidays are the lowest since 2008
America’s retailers are expected to add just 410,000 seasonal positions for this year’s holiday shopping season, according to Challenger, Gray & Christmas, marking the industry’s lowest seasonal hiring in more than a decade. Despite the fact that U.S. consumers have continued to spend amid high inflation and recession murmurings, several major retailers have warned that this trend may be ending according to their most recent earnings reports. Big box retailers like Target and Home Depot have said that customers have all but given up on discretionary purchases and shifted the bulk of their purchases to essentials and groceries. Data shows that Americans are still spending this holiday season, it’s just more on things like international travel, dining out, and other leisure activities.
The AI corner
Meta announces new series of specialized AI chatbots
As Meta seeks to drive greater engagement on its platforms, the tech giant is launching artificial intelligence-driven persona chatbots across Instagram, Facebook and WhatsApp and giving developers the power to create their own versions of AI assistants. At the company’s latest AR/AI conference, Connect, Meta unveiled an AI tool that will be capable of searching for answers to users’ questions through a partnership with Microsoft’s Bing. Users of Meta’s platforms will also be able to interact with 28 chatbots that are trained to be experts on specific topics from food and travel to DIY and Dungeons and Dragons. Pairing bots with celebrity personalities like Snoop Dogg and Tom Brady, these bots are not just meant to answer questions, but also to be a form of entertainment.
Humans vs. AI: The Hollywood writers’ strike is over
The Writers Guild of America’s five month strike, one of the longest labor strikes in Hollywood history, has come to an end. After ongoing concern among writers that studios would use artificial intelligence as a means to pay union workers less, the approved agreement states that AI cannot be used to write or rewrite scripts, or to create source material for scripts, ensuring that writers will be credited for their work, regardless of whether or not AI provides any assistance. Additionally, while the new contract allows writers to use AI tools if they want to, and if the companies agree, it states that writers cannot be forced to use it, and companies have to disclose whenever they give writers material that has been generated by AI. This agreement sets a precedent for other unions to follow as a way to protect the rights of creative workers and prevent them from being replaced by AI.
Supporting your team when an employee leaves
By monday.com
According to a recent report by the U.S. Bureau of Labor Statistics, the median time employees stay at a given company is 4.1 years – and that number is even shorter within a specific team because of internal mobility and promotions.
So between regular employee turnover and internal shifts, coupled with the Great Resignation and cross-industry layoffs, many team leaders today have had to say goodbye to beloved employees. As a manager, sometimes you’re the one deciding to part ways, and other times it comes from the individual employee who’s ready for a change. Regardless, this experience can be really challenging, especially for the team members who remain. When not handled the right way, these departures can cause other workers to feel insecure about their role, lower morale, and generate resentment and distrust toward the organization. In fact, per recent Visier research, a direct colleague of someone who was let go was 7.7% more likely to leave as well.
So, as a manager, what can you do to support your remaining team members after one of their colleagues leaves?
Be transparent
When employees feel like you’re hiding information about why this change has happened, it leads to fear about their own job security and a sense of distrust, so do your best to address potential questions from the get-go. While it’s important to convey positivity and optimism, be careful not to try and paint an overly-rosy picture if it’s not really the reality. Your team will appreciate candor and honesty over fake positivity – not to mention, they will likely be able to see through inauthenticity. So, help them adjust their own expectations for how the team will operate moving forward and understand how to navigate the change.
Leave room for questions, and if you don’t feel prepared to answer something in that specific moment, feel free to let them know that you’ll follow up when you’re more equipped to respond. Additionally, if you cannot share certain information about an employee’s departure due to confidentiality concerns, be honest about this with your team members, and emphasize that you’re committed to providing as much clarity and support to them as you can.
Discuss the workload
When someone leaves a team under any circumstances, the remaining team members are often expected to pick up the slack, which can be especially stressful for those who already feel like their plates are full. That’s why, as a manager, this moment is an important opportunity to reflect on your team’s workload and priorities. Take a pause to understand how much capacity each team member has – if there’s little capacity to go around, evaluate the responsibilities of the person who has left and of those who remain to determine what should be prioritized and what can we put aside. Not every project actually needs to be picked up, so choose carefully and try to distribute the relevant projects according to capacity and skillset.
All the while, communicate with the team that this is your approach and that you’re doing everything you can to ensure they don’t get swamped with tedious work.If you’re planning to hire a replacement down the line, be open with your team members about timelines and which projects will be handed over to that later joiner.
Check in
Soon after announcing an employee’s departure, schedule dedicated time with each of your remaining team members to check in. Everyone has their own way of processing these kinds of changes, so it’s important to create space to address each person’s needs. Ask your team members how they are feeling and if they have any concerns or questions. Before jumping into solutions, validate what they share with you and acknowledge that you understand how difficult these transitions can be. Ask them what they need from you as their leader, and reassure them that you’re their advocate and here to support them throughout this process. Then, talk through potential solutions to each concern and outline any steps you can each take to ensure they feel prepared to move forward.
Follow up
A few weeks after a team member leaves, reach out to each of your team members to see how they are doing. By now, the surprise and anxiety has hopefully worn off and people have likely started to adjust to the new dynamic and workloads. That said, this is a crucial time to check in, determine if the concerns your team members had previously voiced have been resolved, and identify if any new issues have arisen that need to be addressed. By showing your team members that you are really here and thinking about them in this transition, you can drive more positive morale and send the right message to your remaining team members.
Water cooler chatter
Scientists are trying to use genetically modified mosquitoes to end malaria. Working on a remote island called Príncipe, which is part of a volcanic archipelago 200 miles off the West African mainland, scientists have released a small colony of genetically modified mosquitoes to mate with wild ones in an effort to make every member of the species that transmits malaria there effectively immune to the parasite.
A 366-foot tall immersive space called the Sphere built by the Venetian Resort in Las Vegas hosted U2 for its opening concert. The perfectly round building can hold 20,000 people in a room entirely wrapped by ultra-high quality LED screens. With top-of-the-line audio systems, every seat feels like the front row, which is a key reason why the venue is expected to become one of the top entertainment spaces in the country.
Question of the week
Last week’s answer: 23%
This week’s question: Which country has the shortest work-week of 29 hours per week?
Just for laughs
