All you need to know about what you need to know!
February 17, 2023
1. Look Mom, No Hands. “Think about the rollercoaster of pain the American worker has ridden these past few years. We’ve had lockdowns followed by remote work, mandatory vaccines, a forced return-to-office march, with masks required, record inflation, wages that aren’t keeping up, and now a growing wave of controversial DEI policies dividing the workplace. It’s no wonder the discontent meter is redlining. These past few years have produced a very transitory workforce grappling for any bits of real meaning in their careers.” -- Andrew Crapuchettes, CEO of RedBalloon
2. Half Beat Higher. Half of the people who switched jobs in 2022 received pay raises that beat out the rises in inflation. With inflation continuing to rise, it is putting more pressure on businesses to raises real wages. Read more here.
3. Great Regrets 80% of job switchers during the Great Resignation now have regrets about their decision. And one third of the US workforce is considering a job change in 2023. Read more here.
4. Updating Downsizing – DEI roles are more highly impacted. According to Revelio Labs, diversity roles have a churn rate of 33%, compared to non-diversity related roles at 21%. Read more.
5. Not Even Remotely Close. Remote work costs NYC over $12 billion annually. The fall out of this may see an increased demand for “micro-offices.” RedBalloon CEO offers analysis about this new trend to Stuart Varney. Watch here.
6. Catchy Quotes:
"There’s a huge amount of discontent out there. The Great Resignation followed by the Great Regret could now rekindle another wave of resignations. All while inflation continues to eat away at real wages and companies struggle to create meaningful and fulfilling workplace culture that provides long-term value to their employees.” -- Andrew Crapuchettes, CEO of RedBalloon
“DEI is a multi-billion-dollar industry. But, with the choppy economic outlook, some companies are starting to pull-the-plug on DEI programs.” -- Andrew Crapuchettes, CEO of RedBalloon
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RedBalloon CEO Andrew Crapuchettes has founded several successful tech-focused companies and is widely considered a global pioneer in the development and use of labor market data analytics. He served as the founding CEO of Emsi (now Lightcast) - which brought market-changing innovations to how higher education, corporations, and governments approach the labor market. Crapuchettes is also a frequent presenter at technology and business conferences, and frequent guest on business and technology news and influencer podcasts. In 2021, Andrew founded RedBalloon, which has quickly become America’s largest job-board-connector of employers and job seekers who prioritize workplace culture.
Media Contact: Isaac Lopez
(208) 997 8013, isaac@redballoon.work
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