- Briefcase Coach's Career Briefs: Job Search Newsletter
- Briefcase Coach's Career Briefs: Job Search Smarter
Briefcase Coach's Career Briefs: Job Search Smarter
Cost of a bad hire, job postings time to fill data, new salary transparency laws, and more...
My high school graduating class recently celebrated a milestone year. Even though I couldn’t attend the reunion, I have been reconnecting with old friends over the past few months. It’s been surprisingly cathartic for me. As someone who grew up in a small town, I have a lot of shared history with my high school classmates– many of whom knew me in kindergarten. These friends know my parents, can tell you embarrassing stories, and really understand the full extent of my upbringing.
I don’t think about my high school classmates on a daily basis. It’s been years since many of us have talked on the phone. But they are important to me. I’ve been reading the book, “The Life Council” by Laura Tremaine, on evaluating your friendship circle. She perfectly summarizes the value of the “old friend” as “someone who knew you before you became the you that you are now…. a good old friend is like your favorite mixed tape. They are the song that played in your most formative moments. And no one else knows the words.”
In this post-pandemic world that we are in, I have been reevaluating and reprioritizing relationships. After spending almost a year “locked down,” I realized I need people, connection, and knownness in almost the same way that I need air and water.
Having friends is scientifically proven to improve your health too. A review of 38 studies found that adult friendships, especially high-quality ones that provide social support and companionship, significantly predict well-being and can protect against mental health issues such as depression and anxiety—and those benefits persist across the life span (Pezirkianidis, C., et al., Frontiers in Psychology, Vol. 14, 2023; Blieszner, R., et al., Innovation in Aging, Vol. 3, No. 1, 2019)
I know that you work hard. I know that you have a lot on your plate. A lot of people depend on you. I still want to encourage you to pick up the phone this week and call an old friend just to “check-in.” It could change the trajectory of your day (research article).
Rooting for you,
How much does it cost to make a bad hire?
Statistics show that 50% of hires are “bad hires.” Each bad hire comes with a price tag for the company, but how hefty is that price tag? Informed Decisions is an HR-Tech company that helps organizations make data-driven and equitable hiring decisions. They have a calculator tool that returns the cost to a company for a bad hire as well as tools to help avoid hiring the wrong person.
New data shows time to fill varies across industries
A new U.S. analysis by LinkedIn data scientists looked at the time to hire across industries. Hannah Morgan’s recent LinkedIn post curated thoughtful conversations about this newly released data. Hannah shared an article from LinkedIn’s George Anders that is full of insightful information and worth the read. While there are many factors to consider, the data shows that consulting and finance jobs take the most time to fill, while marketing jobs tend to fill the fastest. Also important to note: time to fill and time to hire are two different metrics to consider.
Source: LinkedIn Economic Data
Is years of experience an indicator of job performance?
According to a recent study, narrowing job applicants by years of experience is likely to backfire. The report shows that years of experience could be one of the worst predictors of job performance and may weed out the best applicants if used. Even many entry-level positions posted on LinkedIn job boards require 3-5 years of experience. While skills can be taught, motivation and desire to learn cannot. Write your job descriptions to entice those with enthusiasm for your mission to apply, not those who have “been there, done that.”
A recruiter on what makes a great resume
Pay range transparency laws are benefitting over a quarter of the US workforce
The eight new state pay range transparency laws cover nearly 44.8 million people, or 26.6% of the U.S. labor force. Pay range transparency helps narrow gender wage gaps by providing information to job applicants and/or employees. Eight states have passed pay range transparency laws, and an additional 16 states and D.C. have considered pay range transparency laws in the 2023 state legislative session.
Fast Company’s top 100 workplaces for innovators
In our last issue of the Briefs, we shared a quote from Theodore Levitt on innovation and our thoughts on an innovative leader. An innovative leader is someone who fosters an environment of creativity, experimentation, and growth, inspiring their team to think outside the box and find new and better ways to achieve goals and solve problems. Are you an innovator looking for a workplace change? The summer issue of Fast Company in included a list of their top places to work for innovators. Fast Company and Accenture collaborate on this list of companies that “understand breakthroughs can occur on the loading dock, not just in a corner office”.
Is the “American dream” changing with younger employees?
A trend that started prior to the pandemic, post-pandemic has only gotten worse. Young workers are increasingly proud of exploiting the mentality that less is more at work. More employees than ever before are seeking happiness over wealth, especially wealth for their employers. Is the hustle culture nearing its end?
Is there a benefit to one's career for attending an Ivy League school?
A recent study from Opportunity Insights, a group of Harvard-based economists, found that, in comparison to good state schools, an Ivy League degree doesn't increase future earnings significantly. In the wake of affirmative action, the study looked at students who were waitlisted at an ivy league school and attended state schools. While some companies were biased toward hiring those with an ivy league degree, earning potential from graduates from a state school was comparable.
Is the bias in generative AI worse than human bias?
According to Bloomberg, by 2025, big companies will be using generative AI tools to create an estimated 30% of marketing content, and by 2030, AI could be creating blockbuster films using text-to-video prompts. Stable Diffusion generates images using artificial intelligence in response to written prompts. Bloomberg dug deeper into the images created on the platform and found that there is a strong bias, often stronger than even today’s human bias. As AI becomes more advanced and prevalent, it is even more important to be mindful of biases, or it could create unwelcome consequences for society.
Remember: Every organization has a different definition of flexible. If you are interviewing for a “flexible” position, get in writing from the hiring manager what that means.
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