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Obstacles to Remove From Your 2023 Job Search

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Obstacles to Remove From Your 2023 Job Search

We’re in the third year of what many call “unprecedented times,” which feels accurate when not compared to what earlier generations experienced during the Great Depression and World War II.

Today headlines of labour shortages and layoffs coexist. While companies strive to keep costs under control, consumers and employees demand increased corporate investment in ESG (Environmental, Social, and Corporate Governance), including DEI (Diversity, Equity, and Inclusion).

I ask myself:

  • Will economic pressures drive companies to pause their ESG and DEI commitments?
  • Will companies cut back on employee experiences?
  • As employee demands increase, thus increasing their liability to their employer’s profit margin, will companies be more inclined to use AI, robotics, outsourcing, and contractors?

 

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2023 will be a year employers and job seekers will be navigating many obstacles.

Inevitably, job searching is heartbreaking and frustrating. Therefore, job seekers will benefit from mitigating “obstacles,” real and perceived, so they are in a better headspace while searching for employment.

For a successful job search in 2023, remove these obstacles.

  • Accept the fact that companies are wishy-washy. 

Employers can’t predict the near-term economic future. Many economists foresee a brutal 2023 recession. Therefore, businesses are facing the challenge of hiring applicants who can assist them in staying afloat in a recession. Understandably employers are skittish when hiring, hence a lengthy hiring process or putting off hiring.

Continuously pursue multiple companies during your job search—create a pipeline of potential employers. Placing all your eggs (READ: hopes) in one basket (employer, industry) isn’t a wise job search strategy.

 

  • Embrace the fact today’s job market is as competitive as ever. 

Don’t be fooled by the media’s claim that it’s a job seeker’s market. Every job opening is fiercely competitive, especially those highly sought-after.

Getting a job in today’s job market isn’t a cakewalk. On the contrary, believing it’ll “be easy” creates frustration and heartbreak, obstacles that are difficult to overcome. Believing it’ll “be easy” is also why many job seekers don’t give 100% to their job search or take networking seriously.

 

  • Not following up.

Following up consistently and persistently is key to networking, researching companies, and interviewing, which ultimately leads to job search success.

A peek behind the curtain:  Many hiring managers purposefully don’t follow up with candidates. This is because they believe that candidates who follow up are the ones genuinely interested in the position. The logic behind this can’t be argued.

When you don’t hear back, follow up! Show you’re serious about the position and joining the company.

 

  • Having a sense of entitlement.

Among job seekers, I see an entitlement epidemic. Hence, they’re increasingly victims of their unrealistic expectations and demands of employers.

A sense of entitlement is a massive turn-off with employers, putting you at a disadvantage. You’re not owed a job or to make a living. Get rid of any sense of entitlement you may have and accept responsibility for the consequences of your actions and life choices. (You’ll make better choices.)

 

  • You’re a ghost online.

Having no online presence severely restricts your visibility to recruiters and employers. 

A LinkedIn profile with a professional photo is much more visible and likely to be found than one that’s incomplete. To get employers to find you think “digital assets” instead of “digital footprint.” Having a blog, a website or writing LinkedIn articles showcasing you as an SME (Subject Matter Expert) in your field are excellent ways to get employers’ attention.

Your digital presence should demonstrate your value, not just that you exist.

 

  • You don’t think in terms of “innovation.”

Candidates with more than textbook solutions are whom employers gravitate towards. Employers are looking for creative, out-of-the-box ideas and solutions, especially if the idea/solution will give them a competitive edge. Whether you work in retail or engineering, employers are hungry for ideas that’ll generate revenue, save time and money, and enhance profitability.

The next time you’re interviewing, offer an innovative solution to a pressing problem the employer has or a solution to one of the problems the position you’re interviewing for exists to solve. Try to entice your interviewer to say, “That’s a great idea. Thanks for bringing it up.”

 

  • Your salary discussions are all about “the money.”

The current advice from so-called career and job search experts is “grabbing the bag” and “getting what you’re worth.” When layoffs happen, which they will throughout 2023, who will be laid off first? The employees who negotiated “what they’re worth” or the employees being paid market value?

You should, of course, negotiate a fair compensation package (e.g., base salary, benefits, paid time off, commission/bonus structure) in line with your current local job market. Being inflexible regarding your starting salary prolongs your job search. Also, should you find an employer that’s “stuck” and therefore agrees to your salary demand, you’re now an expensive employee. You don’t want to be the employee that has management always wondering, “Is Bob worth what we’re paying him?”  

I hope 2023 is the year you find the right opportunity for you. If I can assist you in any way whatsoever, don’t hesitate to reach out. Best of luck in your job search.

______________________________________________________________

 

Nick Kossovan, a well-seasoned veteran of the corporate landscape, offers advice on searching for a job. You can send Nick your questions at artoffindingwork@gmail.com.

 

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Tesla Promises Cheap EVs by 2025 | OilPrice.com – OilPrice.com

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Tesla Promises Cheap EVs by 2025 | OilPrice.com



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Charles Kennedy

Charles Kennedy

Charles is a writer for Oilprice.com

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Tesla has promised to start selling cheaper models next year, days after a Reuters report revealed that the company had shelved its plans for an all-new Tesla that would cost only $25,000.

The news that Tesla was scrapping the Model 2 came amid a drop in sales and profits, and a decision to slash a tenth of the company’s global workforce. Reuters also noted increased competition from Chinese EV makers.

Tesla’s deliveries slumped in the first quarter for the first annual drop since the start of the pandemic in 2020, missing analyst forecasts by a mile in a sign that even price cuts haven’t been able to stave off an increasingly heated competition on the EV market.

Profits dropped by 50%, disappointing investors and leading to a slump in the company’s share prices, which made any good news urgently needed. Tesla delivered: it said it would bring forward the date for the release of new, lower-cost models. These would be produced on its existing platform and rolled out in the second half of 2025, per the BBC.

Reuters cited the company as warning that this change of plans could “result in achieving less cost reduction than previously expected,” however. This suggests the price tag of the new models is unlikely to be as small as the $25,000 promised for the Model 2.

The decision is based on a substantially reduced risk appetite in Tesla’s management, likely affected by the recent financial results and the intensifying competition with Chinese EV makers. Shelving the Model 2 and opting instead for cars to be produced on existing manufacturing lines is the safer move in these “uncertain times”, per the company.

Tesla is also cutting prices, as many other EV makers are doing amid a palpable decline in sales in key markets such as Europe, where the phaseout of subsidies has hit demand for EVs seriously. The cut is of about $2,000 on all models that Tesla currently sells.

By Charles Kennedy for Oilprice.com

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Why the Bank of Canada decided to hold interest rates in April – Financial Post

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Divisions within the Bank of Canada over the timing of a much-anticipated cut to its key overnight interest rate stem from concerns of some members of the central bank’s governing council that progress on taming inflation could stall in the face of stronger domestic demand — or even pick up again in the event of “new surprises.”

“Some members emphasized that, with the economy performing well, the risk had diminished that restrictive monetary policy would slow the economy more than necessary to return inflation to target,” according to a summary of deliberations for the April 10 rate decision that were published Wednesday. “They felt more reassurance was needed to reduce the risk that the downward progress on core inflation would stall, and to avoid jeopardizing the progress made thus far.”

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Others argued that there were additional risks from keeping monetary policy too tight in light of progress already made to tame inflation, which had come down “significantly” across most goods and services.

Some pointed out that the distribution of inflation rates across components of the consumer price index had approached normal, despite outsized price increases and decreases in certain components.

“Coupled with indicators that the economy was in excess supply and with a base case projection showing the output gap starting to close only next year, they felt there was a risk of keeping monetary policy more restrictive than needed.”

In the end, though, the central bankers agreed to hold the rate at five per cent because inflation remained too high and there were still upside risks to the outlook, albeit “less acute” than in the past couple of years.

Despite the “diversity of views” about when conditions will warrant cutting the interest rate, central bank officials agreed that monetary policy easing would probably be gradual, given risks to the outlook and the slow path for returning inflation to target, according to the summary of deliberations.

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They considered a number of potential risks to the outlook for economic growth and inflation, including housing and immigration, according to summary of deliberations.

The central bankers discussed the risk that housing market activity could accelerate and further boost shelter prices and acknowledged that easing monetary policy could increase the likelihood of this risk materializing. They concluded that their focus on measures such as CPI-trim, which strips out extreme movements in price changes, allowed them to effectively look through mortgage interest costs while capturing other shelter prices such as rent that are more reflective of supply and demand in housing.

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They also agreed to keep a close eye on immigration in the coming quarters due to uncertainty around recent announcements by the federal government.

“The projection incorporated continued strong population growth in the first half of 2024 followed by much softer growth, in line with the federal government’s target for reducing the share of non-permanent residents,” the summary said. “But details of how these plans will be implemented had not been announced. Governing council recognized that there was some uncertainty about future population growth and agreed it would be important to update the population forecast each quarter.”

• Email: bshecter@nationalpost.com

Bookmark our website and support our journalism: Don’t miss the business news you need to know — add financialpost.com to your bookmarks and sign up for our newsletters here.

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Meta shares sink after it reveals spending plans – BBC.com

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Woman looks at phone in front of Facebook image - stock shot.

Shares in US tech giant Meta have sunk in US after-hours trading despite better-than-expected earnings.

The Facebook and Instagram owner said expenses would be higher this year as it spends heavily on artificial intelligence (AI).

Its shares fell more than 15% after it said it expected to spend billions of dollars more than it had previously predicted in 2024.

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Meta has been updating its ad-buying products with AI tools to boost earnings growth.

It has also been introducing more AI features on its social media platforms such as chat assistants.

The firm said it now expected to spend between $35bn and $40bn, (£28bn-32bn) in 2024, up from an earlier prediction of $30-$37bn.

Its shares fell despite it beating expectations on its earnings.

First quarter revenue rose 27% to $36.46bn, while analysts had expected earnings of $36.16bn.

Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown, said its spending plans were “aggressive”.

She said Meta’s “substantial investment” in AI has helped it get people to spend time on its platforms, so advertisers are willing to spend more money “in a time when digital advertising uncertainty remains rife”.

More than 50 countries are due to have elections this year, she said, “which hugely increases uncertainty” and can spook advertisers.

She added that Meta’s “fortunes are probably also being bolstered by TikTok’s uncertain future in the US”.

Meta’s rival has said it will fight an “unconstitutional” law that could result in TikTok being sold or banned in the US.

President Biden has signed into law a bill which gives the social media platform’s Chinese owner, ByteDance, nine months to sell off the app or it will be blocked in the US.

Ms Lund-Yates said that “looking further ahead, the biggest risk [for Meta] remains regulatory”.

Last year, Meta was fined €1.2bn (£1bn) by Ireland’s data authorities for mishandling people’s data when transferring it between Europe and the US.

And in February of this year, Meta chief executive Mark Zuckerberg faced blistering criticism from US lawmakers and was pushed to apologise to families of victims of child sexual exploitation.

Ms Lund-Yates added that the firm has “more than enough resources to throw at legal challenges, but that doesn’t rule out the risks of ups and downs in market sentiment”.

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