How To Hire For Growth In Challenging Times

Employers are wondering if they should force employees back into the office.  Some demanding 100% in office, to some offering 100% remote work.  What’s the right answer?

This podcast answers that question by using the 4 Trends we discussed in “Thrive to the Future.”  Mobility, Gig work, Asynchronous work and Artificial Intelligence.  Those 4 major trends are just as powerful in 2023 as they were in 2020.  And they will drive successful employers.  People are now aware they can be as productive, or even more productive, when they are mobile and working asynchronously.  This portends a remote workforce, or a hybrid model.  Forcing people back into an office every day often hurts productivity more than it helps, and will not be acceptable to the vast majority of workers.

Additionally, this podcast overviews how now is the time to often rethink what work you hire to complete, and what work you can gig out.  The labor participation rate fell during the recession, and is not going back up.  Demographics will be a huge problem for at least 2 decades, and many people learned they can be productive and personally happier working for themselves.  Or with a partner.  Independent from a traditional employer.  Never has there been a better time to think about what intellectual capital you really need in your company, and what work you can gig out because it is not critical to learning for growth.  And it is now crucial leaders analyze what work we can replace with AI tools rather than using a person.  

The podcast concludes with a quick review of hiring practices at the FAANG+ companies, including layoffs, and earnings.  Meta, Apple, Amazon, Netflix, Google and Microsoft have been cutting headcount, but in all of them hiring accelerated at an unsustainable rate.  The real key to understanding the future of these companies is not looking at earnings, but by analyzing revenues – and that lens shows all of these of them are doing OK – except one.  Listen to hear which one is at greatest risk.

Thinking points:

• Have you figured out how to maximize productivity with remote workers?
• Have you analyzed the best use of gig workers to manage costs and improve productivity?
• Are experimenting with new business models that let you maximize flexibility to hire the best workers and keep them happy?
• Are your hiring plans positioning you for maximum growth?