🎉 Quiet quitting is getting LOUD 🚨

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Good Morning Party People! 🎉

As Waka Flocka Flame once said…”it’s a party it’s a party it’s a party”

Poll time!!

How would you characterize your job title?

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Here’s what we got today:

🚨 Quiet quitting

⛔ Amazon's new voluntary resignation policy

📊 HR efficiency benchmarks  

📝 Bold list of demands

And, of course, MEMES!

MOTD (Meme of The Day)

Meme creds: Greg Roche

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Quiet Quitting? More Like Loud Quitting

Almost 6 out of 10 workers are quiet quitting. According to Gallup, this is costing the economy $8.8 trillion dollars.

What’s causing this?

Employee stress is at an all-time high. 51% of employees are on the prowl for new jobs. It’s easy to blame remote work, but that doesn’t seem to be the case.

“How people feel about their job has a lot more to do with their relationship with their team and manager than being remote or being on-site”

What is quiet quitting?

“Quiet quitting refers to doing the minimum requirements of one’s job and putting in no more time, effort, or enthusiasm than absolutely necessary” (Investopedia).

So how is this fixed? Here’s what employees had to say:

  • 41% want improvements to engagement and culture

  • 28% want better pay

  • 16% want better wellbeing

Additionally, employees stated that they would like more recognition, learning opportunities, and clearer goals.

Leaked Amazon Message

Sorry, Jeff. We know you’re enjoying life on the yacht, but this pic was too good to not use.

A leaked message from Amazon indicates that the company is axing remote work. The Seattle-based company is now forcing employees to “return-to-hub”, meaning that workers must head to their team’s office. These offices are located in Seattle, New York, Houston, and Austin.

But here’s the problem…

Amazon previously stated that it didn’t plan on making workers return to the office.

“The new policy comes as a shock to some employees, especially those who were hired for virtual jobs or who moved to remote locations during the pandemic”

If Amazon workers refuse to cooperate, it’ll be considered a “voluntary resignation”.

The full story can be accessed here.

Party Snacks (Weekly Resources)

FREE Salesforce AI Course - 40% of workers feel that they don’t know how to use generative AI effectively. Check out this free course by Salesforce to learn the basics.

Layoffs.FYI - 221,655 tech employees have been laid off in 2023. This resource keeps you up-to-date with tech layoffs.

HR Efficiency Benchmarking

Is your organization being run efficiently?

Here are some quick facts:

  • The average HR functional spend as a percentage of revenue is 0.74%

  • HR accounts for 1.52% of organizational operating expenses on average

  • HR functions spend $2,524 per employee annually on average

In 2022, many organizations look to cut costs. Now, the data indicates that budgets are increasing.

“…budgets are shifting: 47% of HR leaders plan to increase their 2023 budgets, with recruiting and HR technology as the top two areas where HR leaders are planning to increase investments“

HR spending varies drastically by industry. Use these data points to gauge if your organization might be overspending on HR.

Gen Z Intern Wants WHAT?!

Quite the list of demands from someone so early in their career. We all would like to work 5 hours a week for a fast-growing startup while making good money.

Work-life balance is important. But this fella is asking for life with a sprinkle of work. More power to him if he can get it!

Party Favors (extra reading)

  • Talent Edge Weekly

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  • Transacted

    Join 25,000+ HR, IB, PE, HF & VC pros staying on top of the latest deals and trends with Wall Street's most interesting newsletter (for free).

  • Employee Retention Risk Template

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