Quantcast
Subscribe!

 

Enter your email address:

Delivered by FeedBurner

 

E-mail Steve
This form does not yet contain any fields.
    Listen to internet radio with Steve Boese on Blog Talk Radio

    free counters

    Twitter Feed

    Entries in chart (82)

    Monday
    Oct152018

    CHART OF THE DAY: How much are you using your smart speaker?

    Have you finally jumped in to the 'smart speaker' game? Whether it's an Amazon Echo device, something from Google, or one of the emerging third party manufacturers who are shipping devices that run voice operating systems from Amazon or Google, there seems to be no doubt that this technology is still growing, and maybe faster than you think.

    Some data from the recent Adobe 'State of Voice Assistants' research suggests that after the holiday shopping season concludes, almost 50% of US households will own a smart speaker of some kind. According to the Adobe data, about a third of US households already own a smart speaker, with another 16% reporting the intention to acquire one this holiday season. And here's another chart from the Adobe research, one that shows that the vast majority of smart speaker owners are increasing their use of the technology. Have a look, then some pithy, insightful, and still FREE comments from me.

     

     

    Three takes on the data:

    1. Really significant numbers of both current smart speaker owners, (76%) and non-owners (38%), report increased usage of the technology in the past year. The number to me that is really shocking is that 38% of non-owners are using these technologies more. I confess to not really knowing where or how these folks are using these tools more, but the fact that almost 40% of them are, leads me to believe that a decent number of them will become owners very soon. Said differently, over three quarters or current owners are using their devices more, as are a really healthy percentage of non-owners. You'd love to report at the end of the year that 76% of your employees engaged with any of your workplace technologies more this year.  

     

    2. One reason for the growth in usage? The sheer number of use cases keeps increasing. While the Adobe data also reports the most common uses of smart speakers are for streaming music, getting news and weather updates, and setting alarms and timers, a growing ecosystem of applications and skills are making these devices more useful, fun, and engaging. A full 32% of respondents reported using calendar and scheduling capabilities on their smart speakers for example. And 13% have used them to help with managing finances. Bottom line, the sky seems to be the limit for more and more innovative applications and users seem eager to expand their use of these tools.

    3. If you are in an HR or HR tech role, and have not started to think about how to incorporate these technologies into your delivery of HR information and services, in 2019 you really should plan some time to do so. Your employees are more and more likely to be using these tools and are becoming more comfortable with engaging with them. And pretty soon (if it has not happened yet), these speakers will be in offices, meeting rooms, common areas, cars, and possibly everywhere else. They offer a way for you to engage your employees with access to information, help, support, and more advanced activities in an interface format that everyone already understands - 'Alexa, set up a meeting in Friday with the Marketing Team'. What could be simpler?

    Finally, since I think you know by now I am all in on smart speaker, I wanted to remind readers that we have a special version of the HR Happy Hour Podcast on Alexa for Amazon Echo devices. If you are an Echo user, just add the 'HR Happy Hour'Skill to your device's Daily Flash Briefing to get a short HR Happy Hour Podcast a few times a week.

    Have a great day!

    Tuesday
    Aug142018

    CHART OF THE DAY: ETFs, Active Managers, and Human Specialization

    Today's Chart of the Day comes to us from the world of Finance and our pals at Bloomberg and shows just how once type of job, the "active", (and human) mutual fund manager is being disrupted by another kind of manager - a 'passive' one, modeled against the market more broadly, and dominated by algorithms and sophisticated computers.

    Long story short - investors have been migrating their money away from the active, people-driven funds and strategies and towards the passive, ETF-type funds. Here's the chart from Bloomberg, then some comments below from your favorite active blog manager (me).

    Some really interesting things to note from this chart. And recall, just like when we blog about basketball here, this blog about finance and investing isn't really just about finance and investing.

    1. Highlighted on the chart is the worst of the financial crisis, September 2008. This appears to be the inflection point where investors bailed on active investment management in favor of passive investing. In other words, when times were tough, investors didn't seek 'expert' human management for their diminishing funds. In fact, they sought out the opposite.

    2. As the chart above demonstrates, the current active management model for investments simply can't compete any longer with the cheaper passive/ETF model in either total asset gathering (trying to simply grow the way to prosperity), or in terms of returns. Whatever the current strategy is for the active managers, it is definitely not working and has not been for a decade.

    3. So what can these highly-paid, expensive, and under threat active fund managers do to at least try and maintain some relevance and hold on to their country club memberships and beach houses? Bloomberg suggests one approach - hyper specialization.

    From the piece:

    What does the future of active management look like? We believe it should only seek a portion of an investor's assets. To do this, they will have to create highly idiosyncratic and concentrated portfolios. They will have to find the one thing they do well and do it in a concentrated, risk-seeking way, whether it be health-care, emerging markets, macro themes, algorithms, technology or trading. The manager will need to be known as the "go to" person in that space to emerge as the next star, allocating capital as efficiently as possible.

    Again, the specific example/industry/job role doesn't matter here. What matters is the method and approach for people to remain valuable and competitive in a situation where machines and algorithms have plenty of advantages. The advice is not to try and out-compete the robots where you simply can't defeat them, but rather to seek out those areas, pockets, and opportunities where you can leverage uniquely human skills and experience to stay one step ahead of the machines.

    Super interesing article and one that I think no matter what industry or job you are in, has something we can learn from as well.

    Have a great day!

    Wednesday
    Jun062018

    CHART OF THE DAY: Job Openings Continue to Increase to New Record Highs

    I know I've covered this territory a hundred times, it seems like every month lately, but I feel compelled once again to share the headline number from the monthly Bureau of Labor Statistics  JOLTS (Job Openings and Labor Turnover Survey) Report released earlier today.

    Here's the headline (and an accompanying chart from our pals at the St. Louis FED) - Total Job Openings have climbed to 6.7 Million - reaching another new record high in the history of the data series.

    The steady increase in record high job openings has been one of the truly amazing developments in the aftermath of the financial crisis and recession, which saw openings bottom out at about 2.2M in July 2009.

    The questions are now twofold I think. One, just how high is the ceiling for US job openings to climb towards? I mean these records continue to be set even while trade wars are constantly in the news and many financial and labor markets observers have no idea what strange 'news' emanating from Washington might do to the market and the economy?

    And two, when and by how much do we begin to see a much more pronounced increase in wage growth, as companies are finally forced to increase wages in order to try and fill these millions of openings? The sluggish nature of wage growth in the face of seemingly and endless supply of open jobs has been one of the must puzzling aspects of the labor market in the last several years. Something has to give soon, right?

    It's a good time to be looking for work, I would say.

    Have a great day!

    Tuesday
    May082018

    CHART OF THE DAY: Your semi-regular labor market update

    Two quick charts on my favorite CHART OF THE DAY topic - the trends in macro labor force dynamics in the United States.

    First, the big headline from a few days ago, the official unemployment rate in the US dipped below 4% for the first time since late 2000, ( was the ) hitting 3.9% as of the end of April 2018.

    For a look at this headline trend, see the below chart from our pals at FRED:

    And while this dip below 4% for the first time in almost 20 years was what most reports about the state of the labor market honed in on, (and probably rightly so), the 'truth' of the health of the labor market usually resided in other metrics. Like, for example, one of my favorites - the length of time it takes organizations to fill an average open position.

    Here's the latest on that - from the DHI-DFH "Mean Vacancy Duration" data (the latest I could find on this is from the end of February 2018).

    While you can see some upticks and downticks in the average time to fill, the trend since the end of the recession in 2009 is clearly up and to the right - meaning it continues to take longer and longer for most companies to fill open jobs. Officially, the mean vacancy duration for February 2018 is at 28.9 working days - essentially over a month to fill any open job.

    If you did into the details of the report, (and I did, since I am a weenie), one number really stood out. It now takes over 21 working days to fill roles in the hospitality and retail sector - think hotels, restaurants, fast-food, retail stores. That number is up dramatically from its 'bottom' of about 14 days just a few years ago. You would think that these roles should be the easiest to fill, and maybe they still are, but even today's easy roles to fill are taking longer and longer to actually be filled.

    There is more to this story, and I need to take some time to look at what is happening with wage data, labor force participation, and the openings and quits rates, but these two charts and their data are both pretty revealing.

    It's probably a good time to be a job seeker, all things being equal.

    And it is also a good time to be a recruiter - a good one anyway, because your value to organizations keeps growing.

    That's it from me - have a great day!

    Friday
    Apr202018

    CHART OF THE DAY: Mount Stupid

    Really quick shot for the end of a busy week, where despite it being nearly May, it is still snowing as I write this.

    Today's CHART OF THE DAY does not cover one of the normal themes I usually like to hit with these posts - employment, the labor force, the aging population, how terrible the Knicks have been, etc.

    No, today's chart, courtesy of SMBC Comics, is meant to elicit a chuckle and perhaps make you think, even just a little, before you feel the urge to chime in on a topic, issue, person, or event that you really don't have all that much information about.

    Here's the chart, the one last comment from me after that:

    Knowing just about nothing about a subject generally doesn't get you into trouble. Neither does being incredibly well-versed. In the former case, we usually have enough sense to keep out of the conversation and debate. And in the latter case, even if we run into a disagreement, we can usually have facts, data, or even just plain old experience to back up our opinions.

    But when we know just about enough to simultaneously not seem like a complete fool but not enough to avoid becoming that fool?

    That my friends is 'Mount Stupid.'

    And you don't ever want to be up there. Besides being unpleasant, it's way, way too crowded.

    Have a great weekend!