Thrive HR 2023 Year-End News Update

Dear clients and friends,

As we approach the summer, we're excited to provide our second-half update. Once again, the world has undergone significant changes. We've transitioned from the post-pandemic era of over-hiring, silent resignations, and fully remote work to encounter new challenges. Currently, we're witnessing consistent layoffs occurring weekly across most industries. Additionally, there's a rise in TikTok firing videos, frustration over resumes failing to navigate ATS systems, a stagnant job market, an ongoing mental health crisis in workplaces, and a trend of shrinking pay in certain sectors. Furthermore, some companies have opted to eliminate the CHRO position along with a significant portion of their staff.

All of these issues have brought immense changes to the world of Human Resources, all of which we've adeptly managed for our clients. Fractional Human Resources is gaining momentum as more companies realize the benefits of having qualified HR support without committing to a full-time team. We are seeing more and more companies accepting (begrudgingly) that AI is here to stay, while there is still more hype than reality around AI. The next six months are going to see a quantum leap in companies using AI to decrease spending in all aspects of HR and to increase efficiency.

The future of Talent Acquisition will be heavily influenced by AI's impact. The methods employed during the Great Resignation and post-pandemic era will undergo substantial transformation moving forward.

Lastly, our focus is shifting towards skills-based hiring and understanding the skill sets existing within our companies, as well as those needed. We will aim to strategically deploy these skills to prioritize vital internal tasks.

We wish you a wonderful summer full of all the great things you love!

Happiness and Sunshine,

Jason Walker and Rey Ramirez
Cofounders
Thrive HR Consulting

For more information on this topic, contact Thrive HR at (408) 799-1425  or www.thrivehrconsulting.com