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It’s almost summer and the Pandemic is starting to ebb, so everyone’s talking about Hybrid Work. But as I think about the Fall and year ahead, I think there’s a bigger storm coming – a storm caused by the recovery. It’s not a bad storm, but it’s a storm – and the rate of change is going to be violent. In this podcast, I discuss these changes and let me also discuss them below.
The Economy.
There’s no question that the economy is exploding with growth and we are all going to experience the stress. Yes we’ll see lots of demand for our products and services, but it’s going to get very hard to hire and the pace of activity will be intense. As I discuss in the podcast, high growth periods are also very difficult. You’re going to find supply chain issues with everything – and the supply chain of people will be the toughest.
Right now, for example, there are almost 14 million jobs open in the US (35% YTY growth) and every state shows an increase in employment. It’s time to rethink recruitment in a big way, and get ready for one of the most difficult hiring markets we’ve seen in decades.
Please join our new research on Excellence in Talent Acquisition and we’ll share the secrets with you.
The Markets.
The stock market has been on a tear, and so have crypto-currencies, EFTs, houses, and almost every other asset. This is what happens near the peak of an economic cycle, and as I describe in the podcast, it’s partly caused by a long period of low-interest rates but also a lot of “gamification” of the markets. We will see much more disruption ahead, so those of you working in financial services or other asset-based companies are going to be involved. The shift from “fiat currencies” to crypto and other assets is real, and the impact of this change has yet to be understood.
Here is the S&P 500 since the 2018 crash.
