![]() ![]() Thomas said: “Labour force participation remains below its pre-pandemic norm, and with the ageing population, that looks unlikely to significantly turn around anytime soon. Ultimately, she added, the labour market seems set to remain relatively tight in the next few years. Industries that have thrived during the era of low interest rates, like finance and tech, are an example.” “Of course, some sectors are much more vulnerable to reduced headcount than others. Speaking to HR magazine, she said: “Businesses are much more likely to cut back on hiring rather than reduce headcount through redundancies, and there’s still a lot of room for job vacancies to fall. For example, even though 60 of small business in Australia close within 3 years. However Lauren Thomas, economist for employer review site Glassdoor, said the talent market remains so tight that hiring freezes are much more likely than more redundancies. Optimism inspires people working for you and creates a positive environment. the study and application of positively oriented human resource strengths and psychological capacities that can be measured, developed, and effectively managed for performance improvement in today’s workplace. So far in 2023, the UK has experienced large-scale redundancies across the tech sector and 14,874 jobs have been cut from retail since the start of the year. But optimism, as Chang and other cultural psychologists note, is a state of mind, a reaction to the social stimuli of the worldand recent polls suggest that Americans’ optimism is fading. Positive organizational behavior (POB) is. There may therefore be some elements of over-optimism within leaders given we do have a looming downturn.” When leaders' perception of their business' resilience was compared to the index, Ruparel said: “On the whole, leaders were pretty good at assessing the state of their business, but there are some that overestimate their resilience. We found the majority of businesses have a medium level of resilience, meaning they were relatively well placed to deal with recent economic shocks and a potential slowdown later this year.” He said: “We constructed an index so we could assess UK businesses' resilience. Raoul Ruparel, director for Growth at BCG, told HR magazine that leaders’ optimism was justified. Over three quarters (77%) of senior leaders expected their headcount to stay stable or increase in the next year, compared with 20% who expected to cut payroll. We see this mainly in the media and popular literature, but also in various academic fields. Keep the end goal in mind, and dont dwell on past issues. To develop your optimism, you can consider challenges as opportunities to grow instead of problems that could stop you. Pandemic forces half a million more people out of workforce In the debate on climate change commentators often express pessimistic or optimistic views. Optimism supports creativity, so it helps business leaders find new ideas for their products or services and increases their chances of success. McKinsey calls for better socioeconomic representation to boost economy Hiring freezes on horizon as UK economy set to shrink in 2023 These small habits could help you take back 145 stress-free days each year, not to mention fuel your happiness and work success as well.Three quarters (75%) of UK business leaders said they expect a recession in 2023, yet six in 10 (61%) expected economic growth to be better in 2025.Ī further 63% thought their business would grow over the next three years, according to the State of UK Business 2023 report by Boston Consulting Group (BCG). Social connection is the greatest predictor of happiness, and it is strongly correlated with optimism. The engagement of most people derives much more from their immediate team and direct relationships than from wider corporate objectives. Send a two-minute email each day to someone new and different, praising or thanking them. This two-minute daily practice rewired elderly pessimists to become more optimistic after just two weeks. The good news is that optimism is just like a muscle, and you can build it. They also make more money and are more likely to be promoted. It is the courage to explore opportunities, where others are blocked by risk. ![]() Optimists reported that they stressed about finances 145 fewer days each year as compared to pessimists. Realistic optimism is the ability to balance out negative and positive things in situations, circumstances and people. ![]() Nearly two thirds of optimists have started an emergency fund, while less than half of pessimists have. ![]() But if you choose an optimistic business leader, you should probably pair them with. For example, 90% of optimists have put money aside for a major purchase, compared to 70% of pessimists. Entrepreneurs, for example, are much more likely to be optimists. You dont prospect for new business because youre pessimist about winning it. A recent research study found that when it comes to money, optimists are more likely to make smart moves and reap the benefits. ![]()
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