A Strategic Wage Increase in a Tight Labor Market

CEO Brian Moynihan explained the rationale behind this pay hike in an interview, tying it directly to the ongoing efforts to combat inflation and reduce employee turnover. “The payback is lower turnover,” Moynihan said, highlighting that the company’s investment in wages is yielding tangible results by keeping employees engaged and reducing hiring costs. “Our projections for the economy are for it to bump around at a 2% level, which would be consistent with this kind of wage growth for us as a company,” he added.

This latest $1 increase—from the previous $23 per hour—further solidifies Bank of America’s position as a wage leader among large U.S. banks, far exceeding the federal minimum wage of $7.25, which has remained stagnant since 2009. Moynihan emphasized that the bank’s commitment to raising wages isn’t just about keeping pace with inflation but is part of a broader philosophy aimed at improving the quality of life for employees. “It’s become a little bit of a philosophical point of view in the company,” he noted, adding that wage increases are about more than just economics—they’re about being a company that people want to work for.

Navigating Inflation and the Broader Economic Picture

Inflation has been a major concern for businesses and consumers alike, and Bank of America’s move to raise wages reflects the broader challenges of managing labor costs while maintaining profitability. Moynihan has expressed optimism about the state of the U.S. economy, asserting that “a higher nominal rate is a better place for the U.S. economy” as it normalizes after years of historically low interest rates. He believes that inflation, while challenging, is not derailing the bank’s core objectives, which include supporting employees through competitive wages and benefits.

In fact, Bank of America has consistently increased its minimum wage over the past few years, starting at $15 per hour in 2017, jumping to $20 by 2019, and now aiming for $25 by 2025. “We are proud to be leading the industry,” said Sheri Bronstein, Bank of America’s chief human resources officer. “Providing a competitive minimum wage is core to being a great place to work.”

Competition and Wage Wars in the Financial Sector

The move by Bank of America places pressure on its competitors in the financial services sector. Over the past few years, several other banks, including JPMorgan Chase and Wells Fargo, have also increased wages to attract and retain talent. However, Bank of America has consistently outpaced its rivals, taking bold steps toward addressing wage disparities. The company’s latest increase means that its employees will now earn significantly more than the national median for bank tellers, which was $18.10 per hour as of 2023, according to the U.S. Bureau of Labor Statistics.

This wage increase is also seen as a proactive measure in the face of potential labor shortages, particularly for entry-level and customer-facing positions that are “relatively unglamorous and non-remote-friendly,” according to a report by LinkedIn News. With banks like Bank of America continuing to invest in their workforce, it signals a broader trend across the industry to shore up talent as remote work remains an elusive option for many frontline roles in financial services.

The Long-Term Impact on Employee Retention

For Bank of America, raising wages is not only about addressing immediate economic pressures but also about positioning the company for long-term success. “When you have the best people, you can do your best work for our customers, our clients, and our communities,” Sheri Bronstein said, reflecting the bank’s broader strategy to reduce turnover and maintain a strong, motivated workforce.

In addition to competitive wages, Bank of America has been enhancing its employee benefits. The company now offers 16 weeks of paid parental leave, an industry-leading sabbatical program, and access to a Life Event Services Team, which provides personalized support for employees navigating significant life events. These efforts have not gone unnoticed, as the bank has earned recognition from Fortune as one of the “100 Best Companies to Work For” for six consecutive years and has been ranked by JUST Capital as a top company for workers.

Looking ahead, the bank’s wage strategy is likely to continue paying dividends, as higher wages help attract and retain talent in a tight labor market. As Bronstein put it, “We’re not just focused on attracting talent—we want to be an all-around great place to work.”

As Bank of America moves closer to its $25-an-hour wage target by 2025, it underscores a shift in corporate America, where companies are increasingly taking proactive steps to address wage stagnation and labor market challenges. By committing to higher wages and better benefits, Bank of America is not only securing its position as a leader in the financial services sector but also setting a standard for how large corporations can manage inflationary pressures while keeping employees at the forefront of their business strategy.

Throughout the pandemic and post-pandemic era, Apple has largely avoided the mass layoffs Microsoft, Alphabet, Meta, Amazon, and Intel have engaged in. The company’s conservative approach to hiring paid off, giving the impression it is far more responsible than its rivals, and allowing it to avoid the damage to its reputation that so many others experienced.

Despite avoiding mass layoffs, Apple has had small layoffs, framed primarily as the standard streamlining all companies occasionally do. For example, the company laid off a small number of retail employees in early 2023.

According to Bloomberg, Apple notified approximately 100 employees in the digital services group that they were being let go. The outlet reports that the employees “worked across several different teams in Senior Vice President Eddy Cue’s services group.”

Apple has traditionally had a far different approach to economic downturns than much of the tech industry. Steve Jobs famously described the company’s stance during a major recession.

“We’ve had one of these before, when the dot-com bubble burst,” Jobs said. “What I told our company was that we were just going to invest our way through the downturn, that we weren’t going to lay off people, that we’d taken a tremendous amount of effort to get them into Apple in the first place — the last thing we were going to do is lay them off. And we were going to keep funding. In fact we were going to up our R&D budget so that we would be ahead of our competitors when the downturn was over. And that’s exactly what we did. And it worked. And that’s exactly what we’ll do this time.”

Layoffs are something every company will engage in from time to time, but Apple has definitely been among the most conservative of any major tech company, something people will remember when choosing a company they want to work for.

The Ambitious Twenties: Chasing Titles and Recognition

At 28, Murphy’s career goals were laser-focused on achieving specific milestones that many professionals can relate to. He was determined to secure the title of VP of Marketing, believed in the importance of a side hustle, and was eager to establish himself as a thought leader in his field. “My only career goal was chasing down the job title I wanted,” Murphy recalls. This drive for recognition and status is a common theme among young professionals who often measure their success by the titles they hold and the visibility they achieve within their industry.

Murphy’s ambitions weren’t limited to titles alone. Like many in their twenties, he felt the pressure to diversify his income and interests through side hustles, a trend that has gained significant traction in recent years. “I thought I needed a side hustle (or two),” he admits, reflecting a broader societal shift towards the gig economy, where having multiple income streams is often seen as a necessity rather than a choice.

However, as Marc Sirkin, President of Third Door Media, points out, the relentless pursuit of titles and external validation can often lead to burnout and dissatisfaction. “It’s crazy how time and experience change perspective. I remember coming off stage after a speaking engagement feeling drained and frankly, not happy at all. I immediately deprioritized speaking at conferences as a thing that I needed in my life,” Sirkin shares. His experience echoes the sentiment that what we once considered essential to our success may not necessarily contribute to our long-term happiness.

The Transformative Thirties: Redefining Success

By the time Murphy reached 33, his perspective had undergone a significant transformation. His career goals shifted from chasing titles to seeking autonomy and impact in his work. “My career goal is to never have someone give me a job title again,” he declares. This shift reflects a growing desire among professionals to define success on their own terms, rather than adhering to traditional corporate hierarchies.

Murphy also abandoned the notion of juggling multiple ventures, choosing instead to focus entirely on one business. “I’m 100% focused on one business,” he emphasizes, highlighting the importance of deep commitment to a singular vision. This approach not only allows for greater impact but also reduces the stress and distraction that can come with spreading oneself too thin.

Interestingly, Murphy’s views on leadership evolved as well. While he once sought to be liked by his direct reports, his focus shifted towards ensuring that his team could perform at their best under his management. “I want my team to do the best work of their career while I’m their manager,” he says. This shift from seeking approval to fostering excellence underscores a more mature understanding of leadership, one that prioritizes the growth and success of the team over personal popularity.

This change in perspective is not unique to Murphy. Sandra Rand, VP of Marketing at Ready Set, echoes a similar sentiment regarding the freedom that comes with moving away from the pressures of high-stakes environments. “Working for a non-VC non-PE backed org is FREEDOM,” she exclaims, capturing the relief and fulfillment that many find in less traditional career paths.

The Role of Time in Career Evolution

Time is a crucial factor in how our career goals evolve. The experiences we accumulate, the successes and failures we encounter, and the lessons we learn all contribute to a shifting understanding of what truly matters in our professional lives. “Isn’t it funny how fast the finish line can change?” remarks Courtney Steele, a PMP-certified project manager. Her comment encapsulates the fluid nature of career aspirations—what once seemed like the ultimate goal can quickly become just another milestone on a much larger journey.

Murphy’s reflection on his career journey highlights this dynamic process. At 28, he was eager to establish himself and achieve external markers of success. By 33, his focus had shifted inward, prioritizing personal fulfillment, meaningful work, and the success of those around him. This evolution is a reminder that our career goals are not static; they are shaped by our experiences and the changing contexts of our lives.

Embracing the Shift: Finding Meaning Beyond Titles

The shift from chasing titles and recognition to seeking meaningful work and impact is a natural progression for many professionals. As we gain more experience and confidence in our abilities, the external markers of success—titles, accolades, and visibility—often lose their allure. Instead, the focus shifts to the quality of our work, the relationships we build, and the difference we make in the lives of others.

“Shifting from titles to true business focus is huge. Prioritizing the team’s best work—awesome mindset,” observes Sundus Tariq, CMO and Data-Driven E-commerce Strategist. This perspective highlights the importance of aligning our career goals with our values and the impact we want to have, rather than simply pursuing status or recognition.

Career Goals as a Journey, Not a Destination

Ultimately, Murphy’s journey illustrates that career goals are not a fixed destination but a continuous journey shaped by time, experience, and changing perspectives. As we grow and evolve, so too do our aspirations. The titles and accolades that once seemed so important may give way to a deeper desire for autonomy, meaningful work, and the success of those we lead.

As professionals, it’s essential to remain open to this evolution, to recognize that what we value today may change tomorrow, and to embrace the journey rather than fixating on a specific outcome. In the words of Murphy, “I want my team to do the best work of their career while I’m their manager”—a goal that reflects not only his growth as a leader but also the understanding that true success lies in the impact we have on others and the legacy we leave behind.

What is Interview Warmup?

Interview Warmup is an online tool that leverages AI to help users prepare for job interviews by posing discipline-specific questions and analyzing the user’s spoken responses. Whether you’re gearing up for a role in UX, data analytics, cybersecurity, or another field, this tool is designed to make the daunting interview process more manageable. Hoyne explains, “It throws real questions based on your discipline… Then, the magic kicks in, evaluating your audio answers and sending back recommendations on things like framing your qualifications to supporting your impact.”

The tool allows users to practice answering five questions at a time, providing instant analysis and feedback. It’s not just about giving the right answer but about how you frame your experience and demonstrate your skills. As Hoyne puts it, “5 questions. Get some analysis. Build some confidence. Easy, right?” Indeed, the ease of use and immediate feedback make it an appealing option for anyone looking to enhance their interview performance.

How Does It Work?

The process is straightforward. After selecting your field of interest, such as IT support or project management, you’re presented with a set of five questions. These questions are carefully crafted by industry experts to reflect the kinds of challenges you might face in an actual interview. The AI listens as you respond to these questions, then transcribes your answers and analyzes them for key insights.

One of the standout features of Interview Warmup is its ability to highlight frequently used words and identify key talking points, such as your experience, skills, and goals. For instance, after practicing a few questions, you might notice that you’re repeatedly using certain terms. The tool will bring this to your attention, allowing you to diversify your language and avoid redundancy. It also breaks down your responses into categories, helping you see where you might need to add more detail or adjust your focus.

This AI-driven feedback is what sets Interview Warmup apart from traditional interview preparation methods. As Hoyne enthusiastically pointed out, the tool “evaluates your audio answers and sends back recommendations.” This feature can be especially beneficial for those who may not have access to a mentor or coach to provide such detailed, personalized advice.

The Benefits of Using AI in Interview Preparation

The advantages of using AI tools like Interview Warmup are numerous. For one, they offer a level of personalization that’s hard to match with generic interview prep books or videos. As Jessica Spindel Halverson, a Global People & Talent Acquisition Leader, insightfully remarked, “Brilliant on Google who is inevitably building candidate intelligence off the content from those practice sessions. The traffic driving to the site provides insight for candidate interest, building candidate pipeline by job profile.” This suggests that the tool not only helps candidates prepare but could also provide Google with valuable insights into emerging job market trends.

Moreover, the tool is available 24/7, making it an incredibly flexible option for job seekers who may be juggling other responsibilities. Whether you’re practicing late at night or early in the morning, Interview Warmup is there to provide instant feedback.

Limitations and Considerations

Despite its many strengths, Interview Warmup isn’t without its limitations. Some users, like Joel Jaranilla, a C-Level IT Executive, have noted that the tool may be more geared towards mid-level or technical roles rather than senior leadership positions. “It helps you get a feel for answering questions, but if you’re a senior leader like a COO, CMO, CFO, or VP of Sales, you might find it a bit basic. It doesn’t really dive into the strategic and leadership-focused questions you’re likely to face in high-level interviews,” Jaranilla observed.

Additionally, the tool’s AI-powered feedback, while insightful, is not infallible. As one user, Xiaozhen Z., a Software Engineer, shared, “I’ve encountered several bugs while using it, particularly with the voice recognition feature, which often misinterpreted my words.” While these technical issues might not detract from the overall usefulness of the tool, they do suggest that there’s room for improvement, especially in refining the AI’s ability to accurately transcribe and analyze spoken responses.

The Bigger Picture: Google’s Role in Job Preparation

Google’s Interview Warmup is part of a broader trend where AI is increasingly being used to support job seekers. The tool is aligned with Google’s mission to provide accessible and effective resources for people looking to advance their careers. Jesse Haines, Director of Grow with Google, highlighted the importance of such tools in today’s job market, noting, “Interviewing in a new field can be hard, especially if you don’t have access to friends, family, or mentors in the field who can help you practice and prepare.”

By offering tools like Interview Warmup, Google is not just helping individuals; it’s also playing a role in addressing larger economic challenges by making it easier for people to prepare for and land jobs in fast-growing fields. “We’re excited about tools like Interview Warmup because they show how new technologies have the potential to help more people practice the skills they need to grow their careers,” Haines added.

Final Thoughts

In a world where securing a job often feels like an uphill battle, tools like Google’s Interview Warmup can make a significant difference. By providing tailored, AI-driven feedback, it helps candidates build confidence, improve their responses, and ultimately perform better in interviews. While it may not be perfect, and there are certainly areas where it could be improved, Interview Warmup represents a step forward in how we prepare for the job market.

As Neil Hoyne put it, “Build some confidence. Easy, right?” With Interview Warmup, Google is making it easier for job seekers to do just that—one AI-analyzed answer at a time. Whether you’re a seasoned professional looking to brush up on your interview skills or a newcomer entering a new field, this tool could be the key to unlocking your next career opportunity.

The Evolution of HR: From Administration to Strategic Leadership

The transformation of HR from a primarily administrative role to a strategic function has been driven by the increasing importance of employee satisfaction in achieving business outcomes. Julie Develin, HCM Strategic Consultant at UKG, notes, “HR was once a primarily administrative function, but that is no longer the case. This shift has been driven by the growing recognition of the importance of employee satisfaction, development, and engagement in getting to the right business outcomes.”

Today, HR professionals are seen as the heroes of the workplace, responsible for creating an environment where employees feel valued, engaged, and motivated. As Develin puts it, “You can’t spell ‘Hero’ without HR.” This recognition is more than just a clever slogan; it reflects the critical role that HR plays in shaping the future of work.

The Importance of a People-Focused Strategy

A people-focused strategy is essential for any organization that wants to thrive in today’s competitive business landscape. Employee satisfaction is not just about making employees happy; it’s about creating a work environment where employees feel valued, supported, and motivated to perform at their best.

“Companies have recognized that without people engaged both mentally and physically, productivity will suffer—leading to poor business outcomes,” says Develin. This holistic approach to employee wellbeing goes beyond traditional perks like fitness memberships and on-site health screenings. Forward-thinking HR departments are now incorporating programs that address financial health, emotional well-being, and social connectivity, ensuring that employees are supported in all aspects of their lives.

Development, Training, and Upskilling: Investing in Your Employees

Investing in employee development and training is another area where HR is making significant strides. In a rapidly changing business environment, continuous learning and skills development are crucial for both employees and employers.

“HR departments are seeing value in continuous learning and skills development of employees in a business environment with rapidly shifting needs and compliance demands,” Develin explains. Many companies are now offering structured development programs, leadership training, and career pathing to help employees advance their careers within the organization. This not only enhances employee satisfaction but also leads to greater loyalty and retention.

Adapting to New Ways of Working: HR at the Helm

The COVID-19 pandemic forced businesses to rethink how they operate, with HR playing a crucial role in facilitating this transition. As remote, hybrid, and flexible work models became the norm, HR departments had to quickly adapt policies, technology, and practices to support these new ways of working.

“HR professionals had to reimagine how businesses could keep continuity and how employees could remain productive during historic disruptions,” Develin recalls. This involved close collaboration with IT departments to ensure employees had access to the necessary tools and technology to succeed in a remote work environment. Moreover, HR has been instrumental in helping maintain a strong company culture, even when teams are physically dispersed.

Recognition and Rewards: The Key to Employee Engagement

In remote and hybrid work environments, finding ways to reward and recognize employees for their contributions is more important than ever. Recognition is a key driver of employee engagement and retention, and HR departments are implementing innovative programs to ensure employees feel valued.

“HR has seized the opportunity to increase awareness that different employees are motivated by different things,” says Develin. Personalized recognition, where rewards are tailored to individual preferences, has become a staple in modern workplaces. This approach makes recognition more meaningful and impactful, leading to higher levels of employee satisfaction.

The Bottom Line: HR’s Role in Business Success

HR’s evolving role in driving employee satisfaction is not just about improving the employee experience; it’s about enhancing business outcomes. Research consistently shows that satisfied employees are more productive, engaged, and loyal, leading to better financial performance for the organization.

“By focusing on employee wellbeing, development and training, adapting to remote work, leveraging technology, and implementing effective recognition programs, HR departments are driving positive change within organizations,” Develin emphasizes. These efforts not only enhance employee satisfaction and engagement but also contribute to the overall success and competitiveness of the business.

The Future of HR and Employee Satisfaction

As HR continues to evolve, its role in shaping the future of work will become even more critical. The strategies that HR departments implement today will have a lasting impact on employee satisfaction, business performance, and organizational culture.

HR professionals are indeed the heroes of the modern workplace, and their efforts to improve employee satisfaction are driving significant positive outcomes for businesses worldwide. As Develin aptly puts it, “HR hero? Yes, you are!” The future of work is bright, and HR is leading the way.

For businesses looking to enhance employee satisfaction, the message is clear: invest in your people, and they will invest in your success. Whether through innovative recognition programs, continuous development opportunities, or a strong focus on well-being, the steps you take today will shape the future of your organization.

The FTC’s Ambitious Proposal

The FTC, in a 3-2 vote, had approved the rule in May, positioning it as a necessary measure to prevent what it described as an “unfair restraint on competition.” The agency argued that noncompete agreements, which are commonly used in various industries, suppress wages, stifle innovation, and limit workers’ mobility. According to the FTC, about 30 million American workers, or 20% of the workforce, are bound by these agreements, which prevent them from joining rival companies or starting competing businesses.

FTC Chair Lina Khan, a vocal critic of big business practices, particularly in the technology sector, had championed the rule as a crucial step in restoring balance in the labor market. “These agreements have created a labor market where workers are trapped, unable to pursue better opportunities, and forced to accept lower wages,” Khan said in a statement earlier this year when the rule was introduced.

Judge Brown’s Ruling

Judge Brown’s ruling, however, rebuked the FTC’s approach, stating that the agency had overstepped its authority granted under federal antitrust laws. “The Commission’s lack of evidence as to why they chose to impose such a sweeping prohibition … instead of targeting specific, harmful non-competes, renders the Rule arbitrary and capricious,” Brown wrote. The judge, an appointee of former President Donald Trump, further noted that the FTC did not provide sufficient justification for why a broad ban was necessary, rather than more targeted interventions.

Judge Ada Brown blocks the FTC’s noncompete ban.

According to Grok she said it violated the APA and the FTC overstepped it’s authority pic.twitter.com/PTvh7iI0Mj

— (@503i7) August 20, 2024

Reactions from the Business Community

The ruling was met with approval from various business groups, including the U.S. Chamber of Commerce, which had filed a lawsuit challenging the FTC’s rule. The Chamber argued that noncompete agreements are vital tools for businesses to protect trade secrets, confidential information, and their investments in employee training. “This ruling is a clear indication that federal agencies cannot arbitrarily rewrite the rules without clear authorization from Congress,” said Suzanne Clark, President and CEO of the U.S. Chamber of Commerce.

The Business Roundtable, another powerful lobbying group, also praised the decision. “Noncompete agreements are essential for companies to safeguard their intellectual property and maintain a competitive edge. The FTC’s proposed rule would have caused significant disruption across many industries,” the group stated.

A Divided Legal Landscape

The ruling in Texas is not the only legal challenge to the FTC’s proposed ban. Last week, a federal judge in Florida issued a similar ruling, blocking the ban from being applied to a real estate developer. However, a judge in Philadelphia had previously upheld the FTC’s rule, indicating a deep division within the judiciary over the agency’s powers.

Legal experts suggest that the issue is likely to escalate to the appellate courts, and possibly the Supreme Court, given its significance and the conflicting opinions in lower courts. “This is a pivotal moment for labor law in America. The outcome of these cases could redefine the balance of power between employers and employees,” said Michael Harper, a professor of labor law at Boston University.

Implications for Workers and Employers

For now, businesses that rely on noncompete agreements can continue to enforce them without fear of immediate federal intervention. However, the broader debate over the fairness and legality of these agreements is far from over. Worker advocacy groups argue that noncompetes unfairly restrict employees’ freedom to move between jobs and negotiate better wages.

Jessica Loomis, an attorney representing employees in noncompete disputes, expressed disappointment with the ruling. “This decision is a setback for workers’ rights. Noncompete agreements are often used to exploit workers, especially in low-wage industries where employees have little bargaining power,” she said.

The Path Forward for the FTC

The FTC has indicated that it may appeal Judge Brown’s ruling. “We are seriously considering a potential appeal, and today’s decision does not prevent the FTC from addressing noncompetes through case-by-case enforcement actions,” said FTC spokesperson Victoria Graham. The agency’s next steps will be closely watched, as they will determine the future regulatory landscape for noncompete agreements.

In the meantime, the ruling underscores the challenges faced by the Biden administration in its broader efforts to increase regulatory oversight of business practices. The administration has pursued an aggressive agenda aimed at curbing corporate power, particularly in the technology and healthcare sectors. However, this ruling, along with other recent legal setbacks, highlights the complexities of implementing sweeping regulatory changes in the face of strong opposition from business interests and the judiciary.

As the legal battle over noncompete agreements continues, both employers and workers will need to stay vigilant. The final outcome could have far-reaching implications for labor markets, corporate strategies, and the future of work in the United States.

Judge’s Ruling Sparks Intense Debate Online

The decision by U.S. District Judge Ada Brown to block the Federal Trade Commission’s (FTC) ban on noncompete agreements has set off a firestorm of reactions on X (formerly Twitter). The ruling, which bars the FTC from enforcing its proposed near-total prohibition of noncompete clauses, has been a polarizing topic, with opinions varying widely across the platform.

On one side, proponents of the ruling argue that it defends the rights of businesses and maintains a necessary balance in the employer-employee relationship. Donald Henderson (@Love_Freedom69) expressed strong support, tweeting, “No, you are doing the right thing. Too many people have been canceled and silenced, and if someone didn’t stand up, we were headed towards a really dark place on Earth.” His sentiment was echoed by @Justa18874, who added, “IDK. I don’t think so. Probably close to spot on, and the only reason I say probably is my bias. If you were born here, you’d have just as good if not better than either R or L.”

However, the ruling also faced significant backlash from those who believe it undermines workers’ rights and hinders fair competition in the job market. Critics argue that noncompete agreements often trap employees in unfavorable positions and limit their ability to advance their careers. @JustinShultz19 emphasized this point, stating, “We all have to be, I think you are the right amount of defiant. It is up to all of us to stand by our convictions and stand up for what we believe in and if necessary fight to defend it.” Others, like @JINVISIBLEWOMAN, noted that Musk’s actions represent a broader sentiment of resistance against perceived injustices, tweeting, “You’re speaking for many people right now who have been silenced for years. It makes my heart happy and I speak for most of us, WE ARE GRATEFUL!!”

The debate on X highlights the deep divide in public opinion regarding the role of noncompete agreements in the modern workforce. While some see the judge’s ruling as a necessary check on government overreach and a protection of business interests, others view it as a step backward for employee rights and market fairness. As the case progresses, and with the possibility of an appeal, this conversation is expected to continue, reflecting broader concerns about labor rights, corporate power, and the regulatory role of government in the U.S. economy.

The Importance of Hiring the Right Talent

Hiring the right people is not just about filling roles; it’s about building a team that can execute your vision, adapt to challenges, and innovate in ways that give your company a competitive edge. As Jim Collins, author of Good to Great, famously stated, “The old adage ‘People are your most important asset’ is wrong. The right people are.”

But what makes someone the “right” person? It’s a combination of skills, cultural fit, motivation, and the potential for growth. Let’s break down how you can find these winners and ensure they contribute to your company’s explosive success.

1. Defining What Success Looks Like

Before you can hire the right people, you need to have a clear understanding of what success looks like in your company. This involves defining the key competencies, skills, and behaviors that align with your business goals and culture.

Creating a Success Profile

Start by creating a “success profile” for each role. This profile should go beyond the basic job description and include the following elements:

• Key competencies: What specific skills and knowledge are required to excel in this role?
• Behavioral traits: What personal characteristics and behaviors will contribute to success in your company’s culture?
• Performance indicators: What are the measurable outcomes that define success in this role?

“Defining a success profile is crucial because it ensures you are hiring for the right attributes, not just for a resume,” says Lou Adler, a leading expert in performance-based hiring. “It helps you focus on what really matters for long-term success.”

2. Crafting a Strategic Hiring Process

Once you know what success looks like, the next step is to design a hiring process that identifies candidates who fit the profile. This process should be strategic, data-driven, and designed to minimize bias and maximize the likelihood of hiring top performers.

Behavioral Interviewing

Behavioral interviewing is one of the most effective ways to assess whether a candidate possesses the skills and traits you are looking for. This technique involves asking candidates to provide specific examples of how they have demonstrated key competencies in the past.

“Behavioral interviewing is based on the premise that past behavior is the best predictor of future performance,” says Suzanne Lucas, a former HR executive and writer known as the Evil HR Lady. “It allows you to dig deeper into how candidates have handled real-world situations.”

For example, if you’re hiring for a leadership role, you might ask, “Can you tell me about a time when you had to lead a team through a challenging project? What was the outcome, and how did you achieve it?”

Structured Assessments

In addition to interviews, structured assessments can help you objectively evaluate candidates’ abilities. These might include skills tests, personality assessments, or problem-solving exercises tailored to the role.

“Assessments provide an additional layer of data that can help you make more informed hiring decisions,” says Laszlo Bock, former SVP of People Operations at Google and author of Work Rules!. “They also help reduce the influence of unconscious bias, ensuring that you’re focusing on the candidate’s potential to succeed.”

Panel Interviews and Peer Evaluations

Involving multiple stakeholders in the hiring process can provide a more well-rounded view of a candidate’s fit. Panel interviews and peer evaluations allow different team members to assess the candidate from various perspectives, ensuring that the hire will be a good fit across the board.

“Peer evaluations are especially useful because they can reveal how well a candidate will work within the team dynamic,” says Patty McCord, former Chief Talent Officer at Netflix. “It’s not just about whether they can do the job—it’s about how they do it.”

3. Focusing on Cultural Fit and Values Alignment

While skills and experience are important, cultural fit is often the deciding factor in whether a new hire will thrive in your organization. Employees who align with your company’s values and culture are more likely to be engaged, motivated, and committed to the company’s success.

Defining Your Company Culture

Before you can assess cultural fit, you need to clearly define your company culture. What are your core values? How do you expect employees to behave? What kind of environment do you want to create?

“Culture is the bedrock of any successful organization,” says Tony Hsieh, the late CEO of Zappos. “Hiring for cultural fit ensures that everyone is aligned with the company’s mission and values, which leads to a more cohesive and productive team.”

Assessing for Cultural Fit

During the interview process, ask questions that help you gauge how well a candidate aligns with your culture. For example, if teamwork is a core value, you might ask, “Can you describe a time when you worked closely with a team to achieve a goal? What role did you play, and how did you contribute to the team’s success?”

It’s also important to involve multiple team members in the assessment of cultural fit. This ensures that the candidate is evaluated from different perspectives, reducing the risk of a bad hire.

Balancing Fit with Diversity

While cultural fit is important, it’s equally important to ensure that you’re not hiring a homogenous team. Diversity of thought, experience, and background can drive innovation and prevent groupthink. Aim to hire individuals who share your company’s values but bring unique perspectives to the table.

“Creativity thrives on diversity,” says Scott Page, a professor at the University of Michigan and author of The Diversity Bonus. “A diverse team is better equipped to solve complex problems and generate innovative ideas.”

4. Attracting Top Talent with a Strong Employer Brand

To hire winners, you need to attract them in the first place. Building a strong employer brand—one that resonates with top talent and sets you apart from competitors—is crucial.

Showcasing Your Company Culture

Your employer brand should reflect your company culture and values. Use your website, social media, and other channels to showcase what makes your company unique. Highlight employee testimonials, company events, and other aspects of your culture that will appeal to the type of candidates you want to attract.

“Your employer brand is your reputation in the job market,” says Richard Mosley, co-author of Employer Brand Management. “It’s what candidates think of when they hear your company’s name. Make sure it’s a brand that attracts top talent.”

Offering Competitive Compensation and Benefits

To attract the best candidates, you need to offer competitive compensation and benefits. This doesn’t just mean offering a high salary; it also means providing benefits that align with candidates’ needs and values, such as flexible working arrangements, professional development opportunities, and wellness programs.

“Compensation is more than just a paycheck,” says Josh Bersin, a global industry analyst and founder of Bersin by Deloitte. “It’s about the total value proposition you offer to employees. Make sure it’s competitive and aligned with what top talent is looking for.”

Building a Talent Pipeline

Don’t wait until you have an open position to start recruiting. Building a talent pipeline—an ongoing pool of qualified candidates—ensures that you always have access to top talent when you need it.

“Building a talent pipeline is about being proactive,” says John Sullivan, a professor of management and a thought leader in HR. “It’s about identifying and engaging with potential candidates before you even have an opening. This way, when a position does become available, you have a pool of qualified candidates ready to go.”

5. Onboarding and Retaining Your Winners

Hiring the right people is only half the battle; you also need to ensure that they are properly onboarded and retained. A strong onboarding process sets the stage for long-term success, while retention strategies keep your top performers engaged and motivated.

Creating a Comprehensive Onboarding Program

Onboarding is your opportunity to set new hires up for success. A comprehensive onboarding program should go beyond the basics of paperwork and introductions. It should include:

• A clear outline of job expectations and goals
• Training and development opportunities
• Mentorship and support from peers and managers
• Integration into the company culture

“Onboarding is your first chance to make a great impression and set the tone for the employee’s experience,” says Ben Peterson, co-founder of BambooHR. “A well-structured onboarding program can significantly increase employee engagement and retention.”

Providing Ongoing Development and Growth Opportunities

To retain top talent, you need to provide ongoing opportunities for growth and development. This could include professional development programs, leadership training, or opportunities for career advancement within the company.

“People stay where they feel they can grow,” says Beverly Kaye, author of Love ’Em or Lose ’Em: Getting Good People to Stay. “If you invest in your employees’ development, they are more likely to stay and contribute to the company’s long-term success.”

Recognizing and Rewarding Performance

Finally, recognize and reward your top performers. This could be through formal recognition programs, bonuses, or simply acknowledging their contributions in team meetings.

“Recognition is a powerful motivator,” says Daniel Pink, author of Drive: The Surprising Truth About What Motivates Us. “When employees feel valued and appreciated, they are more likely to be engaged, motivated, and committed to the company’s success.”

Final Thoughts: Building a Team of Winners

Hiring winners is not just about finding talented individuals; it’s about building a team that is aligned with your company’s mission, values, and long-term vision. A team of winners is one that not only possesses the skills and expertise to excel in their roles but also shares a commitment to the collective goals of the organization.

Creating this kind of team requires a strategic approach to hiring, onboarding, and ongoing development. It involves fostering a culture where collaboration, diversity, and inclusion are prioritized, where individuals are empowered to take ownership of their work, and where successes are recognized and celebrated.

When you invest in building a team of winners, you’re not just setting your company up for success in the short term—you’re laying the foundation for sustained growth and innovation. In today’s competitive business landscape, the strength of your team is one of the most critical factors in determining your company’s success. By building a team of aligned, motivated, and high-performing individuals, you can drive your company toward achieving its most ambitious goals and truly exploding in growth and impact.

Sonos has been struggling with a botched app update, one that left users with less features, poorer performance, and more bugs than the original. The issues were severe enough that Sonos CEO Patrick Spence penned a blog post apologizing for the issues and promising a fix.

We know that too many of you have experienced significant problems with our new app which rolled out on May 7, and I want to begin by personally apologizing for disappointing you. There isn’t an employee at Sonos who isn’t pained by having let you down, and I assure you that fixing the app for all of our customers and partners has been and continues to be our number one priority.

We developed the new app to create a better experience, with the ability to drive more innovation in the future, and with the knowledge that it would get better over time. However, since launch we have found a number of issues. Fixing these issues has delayed our prior plan to quickly incorporate missing features and functionality.

According to The Verge, 100 employees were laid off Wednesday morning, with some of them only realizing they were impacted once their access to the internal network was cut off.

It appears Sonos may have underestimated just how much the botched app rollout impacted the company. In the scramble to fix the issues, The Verge says the company has postponed at least two hardware rollouts that were slated for later this year.

Sonos’ issues are a stark reminder of the importance of good software development, and how a single bad update can have devastating consequences for a company’s bottom line.

According to Reuters, the networking is trying to aggressively diversify into other fields, including AI and cybersecurity. As part of that transition, the company is eliminating roles that do not align with its focus.

Cisco has gone through multiple rounds of layoffs in the last couple of years. The company laid off more than 4,000 employees in late 2022, let an undisclosed number go in mid-2023, and laid off another 4,000 in early 2024.

The outlet says the layoffs could be officially announced as early as Wednesday when the company announces its fourth-quarter results.

Dell has already begin notifying employees that they are being laid off. The company told The Register the layoffs are part of its strategy to become a leaner company.

“Through a reorganization of our go-to-market teams and an ongoing series of actions, we are becoming a leaner company. We are combining teams and prioritizing where we invest across the company. We continually evolve our business, so we’re set up to deliver the best innovation, value and service to our customers and partners,” Dell told the outlet via email.

Interestingly, at least one employee said the layoffs were a long time coming, with the company plagued by redundancy:

Dell has known for over five years that they’ve had a redundancy problem with sales personnel. When I was there something like 20 reps were paid on a single deal. Many of which had nothing to do with that deal, so all of us knew something like this happened sooner or later. It’s just a shame they did it all at once, so now the open job market is flooded with people with similar resumes, making it more difficult for folks to stay in tech.

Still another employee said Dell was focusing on getting rid of older employees with stock options and other long-term incentives (LTI):

Look out if you are a AE4 or higher. The plan is to keep hiring children and get the experienced (read: higher paid) people out.

Gotta’ love the NGSA’s that were assistant managers at Bed Bath and Beyond a year ago and now selling enterprise solutions. Good luck kiddos.

Multiple employees confirmed the loss of their LTI, such as this post:

I received LTI almost every year for past 8 years… getting laid off with 3 years of LTI is a kick in the pants. They essentially paid for many layoffs using employees own LTI. What a sham.

Financial firms have increasingly been warning the rush to AI could be the next tech bubble. Goldman Sachs has warned the technology is “never going to be cost-efficient.” Similarly, Elliot Management says AI has “few real uses.”

Intel just announced that it is cutting some 15,000 jobs. With Dell cutting a similar number, the bubble could be on the verge of bursting.

Bloomberg reported Wednesday that Intel was preparing to announce layoffs that would impact thousands of employees. In a memo to employees Thursday, Gelsinger confirmed the jobs cuts, saying the company is trying to cut $10 billion in costs in 2025.

We plan to deliver $10 billion in cost savings in 2025, and this includes reducing our head count by roughly 15,000 roles, or 15% of our workforce. The majority of these actions will be completed by the end of this year.

See Also: Intel’s Turnaround, and Pat Gelsinger’s Legacy, Is In Jeopardy

Gelsinger acknowledged that the news was difficult, both to deliver and to hear.

This is painful news for me to share. I know it will be even more difficult for you to read. This is an incredibly hard day for Intel as we are making some of the most consequential changes in our company’s history. When we meet in a few hours, I’ll talk about why we’re doing this and what you can expect in the coming weeks. In advance of that, I wanted to preview some of what’s on my mind.

Gelsinger went on to say the layoffs were necessary because the company’s revenues have been disappointing and its investments in new technology, like AI, has not yet paid off.

Simply put, we must align our cost structure with our new operating model and fundamentally change the way we operate. Our revenues have not grown as expected – and we’ve yet to fully benefit from powerful trends, like AI. Our costs are too high, our margins are too low. We need bolder actions to address both – particularly given our financial results and outlook for the second half of 2024, which is tougher than previously expected.

For example, our annual revenue in 2020 was about $24 billion higher than it was last year, yet our current workforce is actually 10% larger now than it was then. There are a lot of reasons for this, but it’s not a sustainable path forward.

Beyond our costs, we need to change the way we operate – something many of you shared as part of our Employee Experience Survey. There’s too much complexity, so we need to both automate and simplify processes. It takes too long for decisions to be made, so we need to eliminate bureaucracy. And there’s too much inefficiency in the system, so we need to expedite workflows.

Read More: Intel’s Foundry Business Continues to Bleed Money

Gelsinger did say the company is focused on eliminating the jobs in the right way, where possible giving eligible employees the option to retire, while setting up a voluntary departure process.

Next week, we’ll announce a companywide enhanced retirement offering for eligible employees and broadly offer an application program for voluntary departures. I believe that how we implement these changes is just as important as the changes themselves, and we will adhere to Intel values throughout this process.

Disappointing Quarterly Results

The announcement comes on the heals of another disappointing quarter for Intel. The company’s revenue was down 1% from the year-ago quarter, a loss per share of $0.38, and plans to suspend dividends in Q4 2024.

“Our Q2 financial performance was disappointing, even as we hit key product and process technology milestones. Second-half trends are more challenging than we previously expected, and we are leveraging our new operating model to take decisive actions that will improve operating and capital efficiencies while accelerating our IDM 2.0 transformation,” said Gelsinger. “These actions, combined with the launch of Intel 18A next year to regain process technology leadership, will strengthen our position in the market, improve our profitability and create shareholder value.”

“Second-quarter results were impacted by gross margin headwinds from the accelerated ramp of our AI PC product, higher than typical charges related to non-core businesses and the impact from unused capacity,” said David Zinsner, Intel CFO. “By implementing our spending reductions, we are taking proactive steps to improve our profits and strengthen our balance sheet. We expect these actions to meaningfully improve liquidity and reduce our debt balance while enabling us to make the right investments to drive long-term value for shareholders.”

Gelsinger has staked his reputation on turning Intel around and returning the chip company to its former glory. Those plans have taken one hit after another, with the announced job cuts merely the latest challenge.

Intel is trying to turn around its fortunes under CEO Pat Gelsinger. Unfortunately, the company has hit multiple speed bumps along the way, including multiple rounds of layoffs. Intel had at least two rounds of layoffs in 2023, impacting its Cloud, GPU, and data center divisions.

According to Bloomberg, sources have confirmed that the company is preparing for another round of layoffs, one that may be substantially larger than some of the the previous ones. The company is reportedly hoping the layoffs will help it continue to fund its turnaround and offset its market share losses.

The outlet’s sources asked not to be identified, but did confirm the layoffs could be announced as early as this week.

According to GameSpot, the indie game maker said the layoffs were part of “restructurin[ing] our operations.” The company said its operations would not be impacted.

Humble Games employed three dozen people. Reports began circulating in late July that the company had let the entire team go when Senior QA engineer Emilee Kieffer posted about it on X:

As GameSpot points out, Humble Games had already went through two previous rounds of layoffs. A third round, let alone one that involves the entire staff, does not look good—regardless of how the company spins it.

According to AP News, Apple reached a deal with the union after employees voted to strike in May after talks with the company failed to accomplish “satisfactory outcomes.” Under the terms of the three-year deal, Apple will increase employee pay by an average of 10%, as well as provide additional benefits.

“By reaching a tentative agreement with Apple, we are giving our members a voice in their futures and a strong first step toward further gains,” said the union’s negotiating committee in a statement to AP News. “Together, we can build on this success in store after store.”

A Broad Hiring Push

The job postings, which have gradually appeared on Tesla’s careers webpage over the past few weeks, span various roles. Positions in AI and robotics are particularly prominent, matching Musk’s stated ambitions for Tesla’s future direction. “In terms of what parts of the company are hiring, it’s pretty broad,” Craig Trudell, Bloomberg’s Global Autos Editor, told Bloomberg Intelligence. “Service is a big aspect, especially as the summer season is busy for Tesla with more people driving for vacations and needing service.”

Tesla’s renewed hiring efforts surprise many, given the extensive layoffs earlier this year. In April, Tesla laid off around 14% of its workforce, equivalent to roughly 19,600 employees. These layoffs responded to a 20% sequential drop in quarterly car deliveries. Despite the significant reduction in staff, the current hiring spree indicates a strategic pivot aimed at bolstering key areas within the company, particularly in AI, robotics, and customer service.

Both @Tesla and @xAI are looking to hire networking engineers & technicians https://t.co/LxpQOpGgz7

— Elon Musk (@elonmusk) July 16, 2024

The Service Sector

Service roles are critical as Tesla aims to support its growing customer base. Despite previous layoffs, the demand for service remains high. Mat Fisher, a former leader of Tesla’s sales and service teams, expressed surprise at the initial layoffs. “I was surprised to see so many service employees laid off before the summer, which is a busy car-buying season,” Fisher told Bloomberg. The need for service technicians is especially pressing during peak travel times when more Tesla vehicles are on the road and require maintenance.

Tesla’s focus on service roles highlights the company’s commitment to ensuring a positive customer experience. By rehiring and expanding its service workforce, Tesla aims to address potential service bottlenecks and maintain high levels of customer satisfaction. This move is also strategic, as it helps mitigate the impact of the earlier layoffs and ensures that Tesla can adequately support its expanding fleet of vehicles.

AI and Robotics

Tesla’s investment in AI and robotics is substantial. At least 64 job postings are related to these fields, including positions focused on Tesla’s Optimus robots and Dojo supercomputer. Musk has described the potential value of Optimus robots as transformative, projecting that they could add $20 trillion to Tesla’s market capitalization. The robots are expected to go on sale by the end of 2025, priced between $20,000 and $30,000 each.

The emphasis on AI and robotics aligns with Musk’s vision of transforming Tesla from a car manufacturer into a broader technology company. By investing heavily in these areas, Tesla aims to develop cutting-edge technologies to drive future growth. This strategic focus positions Tesla at the forefront of technological innovation and opens up new revenue streams and business opportunities.

The Autopilot Ambition

Self-driving technology remains a cornerstone of Musk’s vision for Tesla. The company’s careers page lists at least 25 positions related to Autopilot or full self-driving (FSD) technology development. Musk envisions a future where Tesla operates a fleet of autonomous “robotaxis,” which could generate significant revenue. However, the unveiling of this technology was delayed until October. “I requested an important design change to the front, and the extra time allows us to show off a few other things,” Musk stated.

The delay in the robotaxi unveiling underscores the complexity and ambition of Tesla’s autonomous driving projects. Musk remains confident in Tesla’s ability to achieve full self-driving autonomy despite the setbacks. By continuing to invest in and refine its self-driving technology, Tesla aims to create a robust and scalable autonomous driving platform that can revolutionize the transportation industry.

The Layoffs and Their Aftermath

In April, Tesla laid off around 14% of its workforce, equivalent to roughly 19,600 employees. This move came in response to a significant drop in car deliveries, as the company faced challenges in maintaining its growth trajectory. The layoffs affected various divisions, including significant cuts in showroom sales staff. Musk justified the layoffs by citing duplication of roles and job functions.

“With [Tesla’s] rapid growth, there has been duplication of roles and job functions in certain areas,” Musk wrote to employees. However, some laid-off employees, particularly in the Supercharger organization, have been rehired to support Tesla’s expanding charging station network. This rehiring effort reflects Tesla’s need to balance cost-cutting measures with the operational demands of a growing company.

Industry Dynamics and Musk’s Political Engagement

Tesla’s hiring push contrasts sharply with the recent pullbacks by other major automakers like General Motors (GM) and Ford. Both companies have scaled back their electric vehicle (EV) production targets, reflecting uncertainties in the EV market. “We’ve seen a dramatic pullback from GM and Ford,” Trudell noted. “It’s interesting to see how Tesla is positioning itself differently.”

Musk’s political affiliations also play a role in Tesla’s strategy. Recently, Musk has shown support for Donald Trump’s potential re-election campaign, contributing to speculation about the future of EV tax credits and subsidies under a Trump administration. “The Musk-Trump relationship is intriguing,” Trudell said. “Musk has claimed that doing away with subsidies would only help Tesla, although it’s unclear how he squares that circle.”

The Future of Tesla

Despite the challenges, Tesla remains focused on its long-term goals. The company’s investment in AI, robotics, and energy storage underscores its ambition to transform from an electric vehicle manufacturer to a broader technology and sustainable energy company. “In recent months, Musk has taken to calling Tesla an ‘AI/robotics and sustainable energy company,’ not just an electric vehicle maker,” Trudell pointed out.

Tesla’s energy business is also gaining traction. The company reported its highest quarterly deployment of energy storage products in the second quarter, with 9.4 gigawatt hours deployed. Morgan Stanley analyst Adam Jonas highlighted the potential of Tesla Energy, valuing it at $36 per share. “We believe investors will begin to pay more attention to Tesla Energy as the business is uniquely positioned to benefit from investment in the US electric grid accelerated by the AI boom,” Jonas wrote.

As Tesla navigates a complex market landscape, its hiring spree reflects a strategic pivot designed to bolster its technological capabilities and service infrastructure. With Musk’s visionary leadership and a renewed focus on innovation, Tesla aims to solidify its position as a leader in the evolving tech and energy sectors. The company’s ability to adapt and innovate will be critical in achieving its ambitious goals and maintaining its competitive edge in the market.

The US Department of Commerce issued a ban on the sale of Kaspersky’s products in June. There had been growing concern over the company’s close ties to the Kremlin. Some reports have accused the company of actively working with the Russian FSB. Others claim the FSB has hacked the company’s products for its own purposes.

At the time of the ban, lawmakers said the company posed an unacceptable risk.

“The case against Kaspersky Lab is overwhelming,” said Senator Jeanne Shaheen. “The strong ties between Kaspersky Lab and the Kremlin are alarming and well-documented.”

According to Zero Day, Kaspersky has confirmed that it is shutting down its US business as a result of the ban, and has already informed employees they are being laid off.

“The company has carefully examined and evaluated the impact of the U.S. legal requirements and made this sad and difficult decision as business opportunities in the country are no longer viable,” the company said in a statement. Kaspersky said the decision “affects less than 50 employees in the U.S.”

Employees confirmed to the outlet that they were receiving severance pay, although they did not specify how much they were receiving.

The Kaspersky outcome illustrates the growing nationalization of software, especially in the cybersecurity industry. As geopolitical tensions mount, software companies are increasingly finding themselves caught in the middle, with lawmakers on either side retaliating.

According to BBC News, the National Samsung Electronics Union (NSEU) has called on its 30,000 members to strike indefinitely as the union tries to negotiate for better pay and benefits. The union said 6,500 workers have already participated in the strike, with the union calling on the remaining workers to join.

The strike comes at an inconvenient time for Samsung, with the company unveiling a slew of products at its Unpacked event. With thousands of its workers already on strike and tens of thousands possibly joining, there are concerns a prolonged strike could impact the company’s ability to meet demand for its new products.

The BBC reports that NSEU is already taking credit for hurting Samsung’s production. Samsung, however, disputes the claim.

“Samsung Electronics will ensure no disruptions occur in the production lines. The company remains committed to engaging in good faith negotiations with the union,” the firm told BBC News.

According to The Information, CNN CEO Mark Thompson announced the layoffs, saying it would roughly impact 100 employees. The layoffs are the result of the company’s declining TV business. CNN hopes to continue its pivot towards subscriptions and streaming video.

The outlet says the 100 employees represent approximately 3% of the company’s overall headcount.

Intuit CEO Sasan Goodarzi announced the news in a blog post, highlighting the role AI is playing in revolutionizing the company’s offerings.

Intuit is at a critical moment in our history. For over 40 years, we’ve had a successful track record of self-disruption and reinvention, transforming through multiple technological shifts. We were early to bet on and invest in AI, building one of the largest AI-driven expert platforms to fuel the success of consumers, small and mid-market businesses, and important partners like accountants, financial institutions, and marketing agencies who rely on us daily to prosper. With the introduction of GenAI, we are now delivering even more compelling customer experiences, increasing monetization potential, and driving efficiencies in how the work gets done within Intuit. But it’s just the beginning of the AI revolution.

Goodarzi then drew a direct correlation between AI’s growing role and the decision to let 1,800 employees go.

Intuit is in a position of strength; we have the strategy and momentum that we need to succeed. To fulfill our mission to power the prosperity of our customers around the world and strengthen our leadership position, we must accelerate our innovation and investments in the areas that are most important to our future success. With this context, I am sharing some very difficult decisions my leadership team and I have made to ensure we are able to increase investment in these key growth areas. Today we will be communicating to approximately 1,800 employees, which is 10% of our workforce, that they will be leaving Intuit. These are extremely painful decisions for me and my team because we deeply understand the impact these decisions have on our friends and colleagues who will be leaving. We are very grateful for the great work they have done and the amazing contributions they have made while at Intuit.

Interestingly, the company will hire approximately 1,800 new employees, although they will be in engineering, product, and customer facing roles.

We do not do layoffs to cut costs, and that remains true in this case. The changes we are making today enable us to allocate additional investments to our most critical areas to support our customers and drive growth as detailed below. This includes reinvesting in the necessary skills and capabilities to support these areas, and, as such, we will hire approximately 1,800 new people primarily in engineering, product, and customer facing roles such as sales, customer success, and marketing. In context of the actions we are taking today, we expect our overall headcount to grow in FY25 and beyond.

Given that Intuit’s overall headcount is remaining roughly the same, the 1,800 departing employees are clearly holding roles that the company no longer needs filled. The company says 1,050 employees are leaving as a result of not meeting the company’s expectations. Intuit is also reducing the number of executives by 10%. The company is consolidating 80 technology roles in locations where it is continuing to invest and grow. Finally, Intuit is axing more than 300 jobs to streamline work and resources spent.

Goodarzi ended by acknowledging how difficult the decision was, while striking an optimistic tone for the future.

Today is an incredibly difficult day and our hearts go out to all of you who are leaving Intuit. We sincerely thank you for all you have done for the company. We know you will continue to make a significant impact and achieve great success in your next chapter.

With the strength of our people, culture, and mission, we are positioned to take advantage of this AI revolution and revolutionize our customers’ experiences to deliver undisputed benefits in ways that we could never imagine. Today is “Day 1”. Together, we will focus on the future and all the possibilities to power prosperity around the world.

Amazon has stirred controversy among its employees with its insistence they return to the office. To make matters worse, executives have failed to point to verifiable data on the benefits of an RTO, instead saying the decision was a “judgment call” or “serendipity.”.

In response to the company’s ongoing RTO efforts, as well as layoffs, employees at the company’s headquarters planned a walkout for May 31. The National Labor Relations Board (NLRB) has now accused the company of retaliating against those employees. The NLRB says Amazon “interrogated its employees regarding their protected, concerted activity.”

Read More: Amazon Exec Angers Staff By Admitting He Had ‘No Data’ to Support RTO Mandates

The NLRB says one of the employees that organized the walkout was placed on PIVOT, the company’s performance improvement plan, before being offered a severance package.

THe NLRB concluded that Amazon “as been interfering with, restraining, and coercing employees in the exercise of the rights guaranteed in § 8(a)(1) of the [National Labor Relations] Act.”

Amazon has a long history of anti-union and anti-organizing activities. A judge ruled in May that CEO Andy Jassy went too far when he made anti-union comments in interviews. Similarly, in late 2022, another judge ordered the company to stop its anti-union activities. The company has gone so far as to hire Pinkerton detectives to dissuade unionization efforts and disturbed investors with its activities enough for them to call on the company to stop pressuring workers.

The NLRB’s latest ruling merely adds to Amazon’s growing labor issues.