Business News & Trends – July 2021

Updated: Jul 19, 2021



Hey There, Insiders!


July is on tap. As a nation Americans were finally able to celebrate together! Hope your 4th was great! I don’t know about your neighborhood, but we had lots of fireworks in my California Westcoast neighborhood. Even though they’ve been banned due to the drought. There was absolutely no need to pay for a firework show!


This month, we’ve got inspiration to get your energy going, a breakdown of our Career Coaching Services, and timely articles to keep you in the know.



Career & Coaching Services:


Are you lost in a job search? Don’t keep going in circles. We can help you. Get the help you need!


Book a free 20-minute Discovery call with Sindy.


Services include:

  • Resume Review - A targeted resume is the first step in a strategic job search.

  • Mock Interviewing - Get an advantage over the competition. Practice with a Pro!

  • Job Search Strategy – We can help you target your job search!

  • Career Coaching


  • Career Exploration – Let’s discuss where you want to go with your career.

  • Job Search Strategy – We can help you target your job search

  • Career Growth Strategy & Goals - We’ll work with you to plan your career growth

  • Public Speaking – Practice and hone your presentation and public speaking skills

Visit the Career Services page at: www.insiderscareerclub.com Sign up today!


Inspiration for you:


“Every accomplishment starts with the decision to try.” John F. Kennedy


“Success is liking yourself, liking what you do, and liking how you do it.” Maya Angelou


“Have the courage to follow your heart and your intuition. They somehow know where you want to go.” Steve Jobs


“Successful people are not gifted; they just work hard, and then succeed on purpose.” G.K. Nelson


Upcoming Podcasts


Insider’s Career Club Podcasts go LIVE on 7/7/21 and 7/21/21

Be sure to join us! Here’s what’s on tap:


Episode #13, Does Your Manager Fit You? Hosted by Sindy Thomas! Love your job, but less than fond of your manager? Is having a good relationship with your manager seem impossible? Stay tuned. Discover the manager style that’s right for you.


https://www.buzzsprout.com/1448059/8752609


Or listen at: www.insiderscareerclub.com.


Episode #14, Recruiters – Marek Brezula, Head of QA/QC, hosted by Sindy Thomas. Ever wonder how a drug gets approved?  We did and Marek Brezula is an expert in how this happens. He’ll share his career journey thus far. Medicines go through a lot before you can take them.  Get first-hand insight of what it takes to get FDA approval from a quality professional.  Join Us!


https://www.buzzsprout.com/1448059/8323293


Or listen at: www.insiderscareerclub.com.


Business news


Talent Wars


You won’t hear loud booms or gunshots over head but there is a war for talent going on and some companies are taking body hits. As the economy reopens things are heating up. In the US there are 8.1 million open jobs according to Reuters combined with and a dire lack of available talent. Some legislators are arguing the unemployed are incentivized by bigger unemployment benefits are to blame for this. Don’t believe this concept. This seems unlikely most of those unemployed cannot live on their benefit check alone.


The talent disparity is due to multiple factors: nervous workers who won’t return to work until the pandemic is over; or the over 3 million women who stopped working because of childcare issues, overwhelming home schooling demands, eldercare issues or any combination of these things; some workers won’t go back to jobs who are not allowing offsite work; some workers shifted into new industries and are not going back to their old jobs. In addition, the pandemic pushed many senior workers into retirement. We should also note the pent-up demand of workers who planned to change jobs but found themselves landlocked in jobs since start of the pandemic last year. Employers have much to deal and manage these changes. In answer to their needs some have raised hourly wages to be more competitive. Others are adding to their existing benefit packages and/or adding flex work and or a remote work component, others are widening their recruiting sources by looking to hire for skills and experience instead of only hiring those with college degrees. The hiring boom expected earlier in this year will likely come later as things continue to open and consumers venture out into the world to eat, shop and travel. If you are looking to make a career move or just need to find gainful employment now’s the time.


Good News


Consumer Spending Is Up


Bloomberg reports – “The good news for U.S. banks is that consumers are beginning to spend more with their credit cards, spurred by a mix of government pandemic aid, pent up demand and a rebound in employment and incomes.”


Mass Exodus of Workers on the Horizon?


In another Bloomberg article by K. Caprino Anthony Klotz, an Associate Management Professional from Texas A&M University, is predicting the US will see a “great Resignation” soon. He predicts the mass movement will come from workers who hung onto their jobs during the pandemic and are now readying themselves to quit. He also believes workers are now accustomed to being able to work remotely which offered flexibility. He also says workers are not ready to return to the old traditional way of working 5 days onsite. But are now looking at new options for working such as freelancing which will give them some freedom over how they work. Freelance workers are predicted to rise to 50% of workers by 2027.


Trends


Desk Sharing


The office as we know it has changed from what we knew pre-pandemic to post-pandemic to installing air sanitizers, Purell stations and spreading Clorox wipes throughout the workplace. The WSJ reported earlier in the month a trend of desk sharing rising in the workplace. With the rise of hybrid work becoming part of our new work “norm”. Employers needed new ways to optimize their office space. Companies have shifting office space because of a rise in flexible work arrangements. Flex work becoming a workplace staple, employers are now utilizing the concept of desk sharing. Some employees will no longer have a permanent desk but will use shared office spaces called everything from hotel stations to hot desks. Workers should expect to get used to desk sharing as the new normal.


Hybrid Work to Stay -Research and Trends


LinkedIn has the data to prove it as shared in an article on June 29, 2021 by G. Lewis and K. Reid

  • 87% of employees want to remain remote most of the time

  • 31% want to be fully or primarily remote

  • 56% roughly want to spend 50% remote and 50% in-person

  • 13% want to work fully or primarily in-person

Remote job postings have continued to rise 13.7%


LinkedIn reports 7 Most Important Factors for Candidates Considering a New Job

  1. Good work-life balance

  2. Excellent compensation and benefits

  3. Inspiring colleagues and culture

  4. Challenging work

  5. Open and effective management

  6. Job security

  7. Flexible work arrangements

Chip Shortages – Computers and Cars


As the world is becoming more digital there’s a world-wide shortage of chips. During the pandemic chip makers tried to keep up with demand for more computers because of the shift in work and in homeschooling. Intel’s CEO, Patrick Gelsinger was reported on CBS news on June 17, 2021 that it will take 2-3 years for chip makers to catch up from the chip shortage.


New Car Prices Rising?


Where you planning a purchasing a new car or did your old one conk out?


The auto industry too is hurting because of low chip inventory. Again, the finger points back to the worldwide chip shortage. Though we don’t think about it, multiple chips are used in the making of a single car. Chips are used for some of the most basic things---things we don’t think about like automatic windows or engines.


New car inventory storages have driven up the price for a new car as much as 26% in May. The automobile industry is seeking a ripple effect as car hunters are purchasing used cars when they cannot find what they want from new car dealers. Used cars have risen by as much as 30% in May for some models.


Shrinkflation


Whether you have noticed it or not you are a victim of “Shrinkflation.” If you have noticed a difference in the packaged goods you are picking up at the supermarket you are right! Manufacturers of cereal, candy, chips, aerosols, cleaning products and other packaged goods are doing a number on consumers. Instead of raising prices they have made their product packaging smaller which gives them an increase to profits but gives you less for the same money.


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