9.17.2023 I The Changing World of Work

Your Money Radio

Introducing Jeanelle Mathsen

• Jeanelle is Vice President, Human Resources responsible for the HR function at Wealth Enhancement Group.
• She has more than 20 years of experience working in HR at startups and both small and large financial services firms.
• At WEG, Jeanelle and her team focus on HR business planning, employee engagement, talent management, and compensation and benefits.
• Before joining WEG she worked at LifeUSA/Allianz and AEI Capital Corporation, a privately held real estate investment company.
• Jeanelle has a bachelor’s degree from North Dakota and is a certified paralegal.
• When not working, she enjoys spending time with her husband, two daughters, and large extended family.

The search for new employment opportunities

• Gen Z and younger millennials are job-hopping to increase their salary and skills earlier in their careers
• Job-hopping is not just post-pandemic behavior driven by Gen Zers during COVID-19 lockdowns.

Evolving relationship between workers and employers

• Some say one reason for the spike in job-hopping is the erosion of the social contract between companies and employees. Repeated, recession-related layoffs have in some cases led to “right-sizing” in anticipation of an economic downturn (visible in the tech sector in 2022 and 2023).
• Employers are less concerned about having access to talent. Today, it’s about motivating and keeping workers happy (employee well-being and professional development are top-of-mind for employees and hiring managers).
• What’s motivating the search among US workers for new employment opportunities? (Robert Half data)

Impacts on workers and companies

• Workers’ financial and well-being concerns are shifting, according to recent Mercer research.
• The rise in awareness of work-life boundaries: The #1 action that employees are looking for is a “reduced workload.”

How should individuals and companies plan for the changing world of work?

• Are workers who seek greater work-life balance as productive and more likely to be considered for promotion? Will they meet their goals for retiring on their terms?
• Building a resilient financial plan will help give you better control over your future and confidence in your career decisions.
• Pay attention to things outside of work that make you happy.