18Dec

What is the Big Stay? 

The Big Stay defines 2023 as we have seen a shift from job hopping and demands for more settle. LinkedIn states, “Simply put, it means employees have slowed down on job-hopping and are sticking around.” This comes after the layoffs that mounted in the tech sector in the fall of 2022.  

LinkedIn also mentioned, “Job-hopping became a less lucrative pursuit. According to research from ADP, pay increases for job switchers peaked in June of 2022 at 16.4%, but then dipped to 13.2% this year, the lowest pace of growth since November 2021. So, employees are now doing the workplace equivalent of crawling into their jammies, curling up on the couch, and staying put. LinkedIn data shows that the rate of people staying in roles for less than a year has sharply declined, down nearly 30% compared with last year.” 

Why is the Big Stay potentially a good thing? 

According to LinkedIn, “…it’s also a boon for companies as retention goes from a pain point to a point of pride. The Big Stay also provides companies with incentives to upskill their employees — which benefits both employees and companies. A Financial Services Skills Commission found that it’s 2.5x more expensive to hire a new employee than to reskill a current one.”  

How can Clients Leverage the Evolving Job Market? 

As we witness the shift from the Big Quit to the Big Stay, it is important to know how you can leverage the shift and boost engagement. Let’s explore how clients can make the most out of this season.  

LinkedIn notes, “Improve your company’s learning and development opportunities, make sure there’s a clear link between performance and recognition, and focus on enhancing your culture and employee experience.” 

Improve your company’s learning and development opportunities. 

Companies should highlight their interest in their employees’ growth by offering different programs and benefits like, “…online and in-person courses, mentoring, internships or apprenticeships, and tuition reimbursement.”  

By doing this, employers will increase employee loyalty, and help keep them engaged. Moreover, “…investing in your team members won’t just benefit them — it can also set your organization up for long-term success by addressing skills gaps. According to LinkedIn data, skill sets for jobs have changed by around 25% since 2015; that number is expected to grow to at least 65% by 2030.” 

Make sure there’s a clear link between performance and recognition. 

Recognizing employees for their performance has always boosted engagement. Employees enjoy being able to track their performance and see where they are as opposed to goals set. “In fact, 42% of employees say the ability to monitor and manage their own performance keeps them engaged at work. Workers also report that the ability to tie their goals to the company’s goals helps boost their motivation.” 

Focus on enhancing your culture and employee experience. 

Organizations should continue to work on enhancing their initiative to improve their employee value and strengthen their culture. This will continue to make the organization a better place to work.  

For instance, provide more opportunities for employees to connect and collaborate with each other.  

Ultimately, organizations should continue to implement initiatives that promote employee satisfaction and being mindful the quiet quitting is still a widespread issue.  

Jan 18, 2024

Why Companies are Already Recruiting Interns for 2025

As we kick off the year 2024, companies are already gearing up for the recruitment of interns in 2025. Many accounting and finance companies have opened 2025 internship applications due to the extreme competitiveness over the past few years.

According to The Wall Street Journal, “Companies in finance and accounting are now recruiting for interns nearly 18 months before college students would be expected to start. The investment bank Guggenheim Securities and the Royal Bank of Canada, in addition to accounting stalwarts Grant Thornton and PricewaterhouseCoopers among others, started advertising for 2025 summer internships this fall. Many summer 2024 internship slots are already filled, several companies say.”

Securing Top-Tier Talent

This proactive approach and urgency in recruiting interns months in advance is not just about competitiveness or filling positions, it’s a strategic move to secure top-tier talent and ensure a seamless integration into company culture. The Wall Street Journal  also mentioned, “The advanced timeline means that college students who may have taken just one business class are trying to prove their mettle in competitive application processes that can launch careers after graduation…Many applicants for 2025 are sophomores striving for a coveted internship after their junior year. The stints often lead to a full-time job offer before their senior year, career coaches say.” This forward-thinking approach enables organizations to align the skills and aspirations of future interns with their business objectives, creating a foundation for mutual growth.

The Wall Street Journal also highlighted one student’s experience as he said, “To find out I had to apply so early was really, really crazy for me,” said Brayden Dam, a sophomore studying accounting at the University of Florida. Dam, 19 years old, learned of the early timeline from a college adviser when he was a freshman. This fall, Dam applied to a few 2025 internships with accounting firms in Tampa, Fla. He was told that those offices were full and that he should try Orlando or Miami. “I thought I was getting in early,” he said. “But apparently I was even later than some people that had already filled up the slots.”

Compensating for the Dwindling Number of Accounting Majors

In recent years, there has been a noticeable decline in the number of students pursuing an accounting major. This is another reason for the early deadlines.  According to The Wall Street Journal, “PwC and other companies say that the early deadlines help them scoop up talent that could go to competitors. PwC posted its summer 2025 internships for areas including tax and consulting in September, the earliest the firm has ever advertised internship positions, said Rod Adams, who leads hiring for the U.S. and Mexico. One key reason: PwC is trying to compete for top talent amid a dwindling number of accounting majors.”

How to Help Ukraine

Over the last several weeks, the leadership team at Green Key Resources has been watching the horrifying events unfold in Ukraine and discussing how we as a community can help. This has been a topic of great concern for many within Green Key Resources, with our clients, our candidates, and the world at large. 

With that in mind, we’ve gathered some information about organizations that are directly helping the people of Ukraine during this ongoing crisis.  

Thank you to our compassionate community for sharing their time and resources to aid the millions of Ukrainians suffering because of Russia’s war on Ukraine. 

5 Organizations Helping Ukraine Now: 

  • World Central Kitchen 

www.wck.org  

Green Key has made a corporate contribution to this organization. WCK is providing meals to families impacted by the conflict across Ukraine, Poland, Romania, Moldova, and Hungary. 

  • International Rescue Committee 

www.rescue.org 

This organization is one many at Green Key Resources have close to their hearts. Over 3.5 million refugees have been forced to flee Ukraine. The IRC is sending vital supplies to displaced children and families. 

  • Razom for Ukraine 

www.razomforukraine.com  

Razom has set up an emergency response to help and support the people of Ukraine by providing critical medical supplies and amplifying the voices of Ukrainians.  

  • Global Giving 

www.globalgiving.org  

Global Giving has started a Ukraine Crisis Relief Fund that provides water, food, shelter, as well as health and psychosocial care to Ukrainian refugees.  

  • Doctors Without Borders 

www.doctorswithoutborders.org 

Doctors Without Borders provides medical care during humanitarian crises and has workers in Ukraine and its neighboring countries to provide medical care and resources during the ongoing conflict.