Latest economy and HR news

Latest economy and HR news

178-year-old holiday firm Thomas cook has collapsed

One of the world´s best-known hol­i­day brands “Thomas Cook” has col­lapsed after last-minute nego­ti­a­tions to save the firm failed. “The company’s large debts and High Street-focused busi­ness made it a poor can­di­date for sur­vival”, as BBC reports. The hol­i­day com­pa­ny spent all Sun­day in talks with lenders to save the com­pa­ny, but they were not suc­cess­ful. Thomas Cook give sev­er­al rea­sons for its fail­ure such as the polit­i­cal unrest in hol­i­day des­ti­na­tions (Turkey), last summer’s pro­longed heat­wave and cus­tomers delay­ing book­ing hol­i­days because of Brex­it. About 150,000 Britons and 350,000 to 450,000 cus­tomers abroad are affect­ed by Thomas Cook´s col­lapse. Also 22,000 jobs are at risk world­wide.

Germany´s $ 59 billion climate change package is being criticized

Ger­many reveals a $ 59 bil­lion cli­mate change pack­age ahead of the cli­mate sum­mit in New York this week. The pack­age aims to show “a com­mit­ment to green­er poli­cies while also offer­ing a boost to a flag­ging Ger­man econ­o­my”. Includ­ing extra spend­ing and tax sub­si­dies totalling 54 bil­lion dol­lars between 2020 and 2023 the cli­mate pack­age isn’t enough, accord­ing to CNBC. The Ger­man gov­ern­ment “is already being crit­i­cized for not being ambi­tious enough”. Although 54 bil­lion dol­lars seems to be a big amount, divid­ed up over the next years it is a very small pack­age. On the short term the cli­mate pack­age won’t change too much since it takes time until the pack­age will have an impact due to lengthy plan­ning pro­ce­dures and severe lack of skilled work­ers. On the long-term there could be a help­ful impact.

LinkedIn´s new assessment tool

Since the job mar­ket has evolved over the past years, also the skills required of seek­ers have changed. Accord­ing to the senior direc­tor of prod­uct man­age­ment at LinkedIn Learn­ing “there is an evolv­ing labor mar­ket and much more sophis­ti­ca­tion in how recruiters and hir­ing man­agers look for skills“. As the Forbes Mag­a­zine reports, LinkedIn is now try­ing to help mak­ing recruit­ing eas­i­er. There will be a “Skills Assess­ment” tool on the plat­form, which gives users the oppor­tu­ni­ty to test their knowl­edge. If you pass the test, you have the oppor­tu­ni­ty “to dis­play a badge that reads “passed” next to the skill on their pro­file pages, a val­i­da­tion of sorts that LinkedIn hopes will encour­age skills devel­op­ment among its users and help bet­ter match poten­tial employ­ees with the right employ­ers”. Although the hard skills that mem­bers can put to the test trough LinkedIn´s new tool are very rel­e­vant, the soft skills should be equal­ly as impor­tant.

Strategies to support young women as their career starts

Although girls out­per­form boys aca­d­e­m­i­cal­ly, this is not reflect­ed in the work­place. The Forbes Mag­a­zine names three key areas in which orga­ni­za­tions can sup­port young women as they begin their careers. There­by orga­ni­za­tions should encour­age growth mind-set, show­cas­ing achieve­ments and encour­ag­ing them to express them­selves. By embrac­ing a growth mind­set indi­vid­u­als learn to not only focus on the end results but also to see all sit­u­a­tions as learn­ing oppor­tu­ni­ties and exper­i­ment­ing with dif­fer­ent strate­gies. It is also from impor­tance “to encour­age young women to be proud of their achieve­ments and show­case them is cru­cial “. One way to facil­i­tate this is by cre­at­ing a men­tor­ing pro­gram, where some­one oth­er than their man­ag­er men­tors women. Last but not least it is impor­tant for women to express them­selves and be self-con­fi­dent. Man­agers should encour­age them to speak up in meet­ings and to be assertive with col­leagues. A com­bi­na­tion of growth min­d­est, men­tor­ing pro­grammes and encour­age­ment of con­fi­dence will help orga­ni­za­tions to work with their young female employ­ees and to ensure that they are not hold­ing them­selves back.

 

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Your Glasford Inter­na­tion­al Deutsch­land Research and Ana­lyt­ics Team