The End of the Year Job Market? It’s a Pretty Odd Way to Close the Door on 2023

Editor’s Note: This is the final Workplace Week That Was for 2023. We’ll return next year.

HERE’S A FINAL THOUGHT on the year-end job market — it’s an odd and frustrating time to try to find a new job.

One of the indicators of just how odd an employment market we have is a story in Fortune magazine with a headline that simply said — Bosses are using tougher performance reviews to cut workforce without layoffs because employees aren’t quitting.

Here’s how Fortune described it:

“Talent is one of the largest expenses on a company’s balance sheet, but employers are not ignorant of the consequences of widespread layoffs, such as knowledge loss, heightened anxiety for remaining employees, and even the immediate financial cost of letting people go.

As they look to trim financial fat, however, some employers are looking to performance reviews to separate high performers from low performers and identify where to invest time, money, and resources.”

Struggling to find new talent

Hmmm … getting tougher on performance reviews as a tool to reduce the workforce? That’s an odd way to reduce the staff at a time when many companies say they’re shorthanded and others are trying to get their employees to return to the office either full-time or in a hybrid fashion.

Meanwhile a recent ManpowerGroup Employment Outlook Survey found that employers anticipate measured hiring in the first quarter of 2024, while persistent talent shortages continue to impede hiring efforts.

According to HuntScanlon Media:

” ‘The latest survey reveals that while employer hiring confidence has moderated slightly amid global economic concerns, labor markets remain tight and demand for skilled talent is still strong across multiple sectors,’ said Jonas Prising, chairman and CEO of ManpowerGroup.

“As companies continue to transform their business models, many are holding onto the talent they have, and struggling to find the new talent they need. This data suggests organizations are committed to offering flexible work options, recognizing that this can give them a competitive edge for attracting and retaining workers. As AI adoption gains traction, employers are turning to upskilling their workforce to maximize potential productivity gains.”

After reading that, you may feel that perhaps the job market isn’t all that bad. I thought so too … until I read another article from BBC Worklife bluntly titled The ‘vibecession’ driving holiday mass layoffs. It focused on all the layoffs and cutbacks going on during this difficult and challenging time of year.

Here’s the gist of the BBC story:

“With the holidays in full swing, the months of November and December feel like a particularly cruel time to let people go. Why does it happen?

This year, at least, rocky economic headwinds may play a role, says Nicholas Bloom, an economics professor at Stanford University. He believes most companies that conducted these end-of-year mass layoffs did so under the assumption that an economic downturn is imminent. He calls this response a ‘vibecession,’ where perceptions drive action – even if the data doesn’t tell a story to back up the widespread skepticism.”

A psychic’s take on work in 2024

AT THIS POINT, you may feel a little punch drunk at the state of the hiring market — is is good, bad, or something else? — and at that point, I turned to Employee Benefit News and their story titled, We asked a psychic what to expect from work in 2024. 

EBN talked to Amanda Rieger, who they described as “a psychic medium, wellness coach and the founder of Soul Pathology.”

Rieger spends a lot of time describing how she works “with individuals and workplaces to help employees tap into their ‘higher selves.’ Often, the work she does uncovers a new way of looking at what it takes for them to be successful and well in their lives.”

Although Rieger spends a LOT of time on the need for wellness and the balance between work and the rest of life, she also says this:

“ ‘Most employers really are concerned with cost, the bottom line and productivity. But something in the system must be shifted, because you can start to see an uprising happening from the workforce,’ ” Rieger says. ‘The old answers and the old solutions are starting to become outdated.’

While Rieger doesn’t expect a change to happen overnight, she’s optimistic that employers will continue to embrace more holistic approaches to health and well-being. The results will benefit what employers really care about: Their organization’s longevity and the bottom line.”

One more take on the state of work, from BBC Worklife: The permanently imperfect reality of hybrid work.

Other trends and insights … 

One more thing … 7 insightful tips that all new leaders should try to follow

I’VE LED AND MANAGED PEOPLE for a long time, and most of my leadership skills came from simply getting thrown into the managerial pool and doing what was needed to survive.

It’s not the best of way to become a leader, but in the long run, it seemed to work for me.

However, I saw this article recently and unlike so many others, it actually seemed to have some good advice for leaders and managers to help them do a better job.

It comes from Robert Whipple, CEO of Leadergrow Incorporated and his website, The Trust Ambassador. The article that caught my eye was titled Leader First Impressions, and it started off like this:

“For a leader, the first impressions are most critical. Let’s say you were just transferred to a new unit. What happens in the first few hours will determine your success for the next several months. First impressions stay with people until supplanted by ideas from events that play out over time. …

It is crucial to get off on the right foot with people. … Unfortunately, many leaders come into a new assignment with the wrong attitude. The impressions they make mean a rocky start. Here are seven things that can help you get off on the right foot in any new position.”

7 smart tips for new managers

Here is a list of those seven things leaders and managers can do to inspire confidence in those they are trying to lead. Just the list of them jumped out at me as something pretty worthwhile:

1. Learn about the culture.
2. Establish rapport one-on-one.
3. Build trust as early as possible.
4. Avoid pushing ideas from your former job.
5. Observe the informal organization and cliques.
6. Practice management by wandering around extensively until you are a known quantity.
7. Check your body language.

THOSE ARE ALL GOOD IDEAS for new managers, and you should read the full article to get the full take, but I’ve read far too many things like this that didn’t have a fraction of the smart managerial advice that Leader First Impressions did.

And as the article adds, “It is the first blink of an impression that makes the most difference to your future.” That is and important insight, because as you might have heard people say more than once, “you only get once chance to make a first impression.”

So on that note — Merry Christmas. Happy Hanukkah, Seasons Greetings, Happy Holidays, and a joyous and Happy New Year. See you in 2024!