#AskPeshev 170: Are you SKILLing it?

#AskPeshev 170: Are you SKILLing it?

December 08, 2022

I love learning. I do—profoundly.Much of what I know now and where I am can be attributed to my never-ending quest for acquiring new knowledge and skills.Skills.What skills have you learned lately? If you can’t think in a snap for an answer, it’s high time you make a way in your schedule for upskilling and even re-skilling. I recently published a blog post on the 8 Crucial Business Skills to Weather the Recession Storm. Check it out in case you missed it 🚀 This week’s newsletter is a roundup of the latest articles around the web that underline the need for skills training, one way or another. Enjoy reading!Love growing with you,Mario My Take LinkedIn: December 22 Business TipsMy monthly business tips deck is out! Here's what I'm tackling in December. With the recession crushing the tech market, there are actionable steps I'm applying across the board to ensure we make the most out of 2023. What's on your list for the end of the year?Read more…

 Business Strategy 

  • DOW: 33,596 (-1.03%)

  • NASDAQ: 11,014 (-2.00%)

  • S&P: 3,941 (-1.44%)

*Economy numbers as of December 6th*

Today, most companies realize the importance of employee learning in improving engagement and having a competitive edge. However, achieving the intended outcomes requires more than a learning program. Leaders must identify key trends and concepts to address critical challenges through their learning strategy. Udemy Business recently conducted a study to identify these trends. Check out the key insights.Read more… Management 

  • Labor productivity Q3 2022: +0.8%

  • Unit Labor Costs Q3 2022: +2.4%

*Statistic taken from US Bureau of Labor Statistics “Productivity and Costs Q3 2022” *

MIT Sloan Management Review: People Leaders Need Data-Driven Technology TooOur behavior at work is changing. While this has been a constant for as long as people have been working, the pace of change has accelerated tremendously over the past few years. The pandemic permanently shifted traditional expectations of the workplace and prompted workers to begin rethinking the notion of job security and how work meaningfully fits into their lives. The resulting shifts in employee sentiment have left employers to navigate new expectations of flexibility, career choices and job roles, and purpose.Read more… Recruitment 

  • Payroll Employment: +263 000 

  • Unemployment in November: unchanged 3.7%

* Annual Statistic taken from the US Bureau of Labor Statistics “Employment Situation Summary” *Forbes: Why Your Company May Need A ‘No Haggle’ RuleIn November 2022, New York City became the latest government entity to attempt to overcome wage discrimination by instituting a wage transparency law. But as I’ve previously reported in Forbes (see articles here and here), this law may not solve the intended problem or cause and brings with it a new buffet of complicated and delicate issues, ranging from accounting for time off to negotiation skills.Read more…

 Breaking News 🚨

  • Trump lawyers hire outside team to search four properties for classified info

  • Ukrainian President Volodymyr Zelensky named TIME Person of the Year

  • China scraps some of its most controversial Covid rules, in significant step toward reopening

 Marketing 

  • US Inflation 2023 prediction: 3.4% (-2.8%)

*Information is taken from Statista US Inflation Prediction*

As you know, marketing in our currently powerful digitally-driven world offers a lot of opportunity and frustration. From a performance standpoint, marketers are expected to live up to KPIs more than ever before. To power the brands that employ us, we must be more strategic and adaptable to data-driven insights than we used to be. You can increase performance at your brand with the data to back it up by leveraging video during all stages of the funnel.

 Sales 

  • Job Openings October 2022: 10.3 Million (-6.3%)

  • Job Hires October: 6 Million (-3.9%)

  • Separations, Quits, Layoffs: 5.7 Million (unchanged)

* Information taken from the US Bureau of Labor Statistics “Job Openings and Labor Turnover Summary” *

We live in a time where ideas can become businesses at an unprecedented rate. It has never been faster to have an idea, file for a name, quickly get a logo and business address and move on with that idea. This ease of entry, plus the aftermath of the Great Resignation, "Quiet Quitting" and turbulent market disruptions led our economy to a proliferation of new businesses and startups, many of which are small and agile enough to succeed where larger companies would fail.

 Featured Story of the Week 

Acquiring the right business skills, although extremely crucial, is a small percentage of what an entrepreneur (or a business owner) has to deal with on a daily basis. Let’s say that you are a plumber. You’ve learned the craft and want to work independently. Great! You have the skills and are ready to start installing and maintaining plumbing systems…until you realize that there is no one you can work with at first. You need to find customers, price your services, and learn how to explain plumbing problems in a way that would resonate with your clients.