Did You Have This Entire Week Off, Too?

When did Thanksgiving become a weeklong holiday?in the US? As employees seek a better work/life balance, many are taking all or most of this week off—as are their managers. That leaves?only about 15 days?between now and the end of 2024 for organizations to hit their year-end goals. Korn Ferry’s experts offer advice on how firms can deal with this crunch without burning out employees. Plus,?how to ask for a raise before the year winds down.??

1) Now It's Thanksgiving 'Week'

On the calendar, Thanksgiving was just one day. So were the Fourth of July and New Year’s Day. But don’t tell that to a lot of workers—and their managers.??

In a trend that just keeps growing, many workers, along with their managers, are stretching one-day holidays into a full week off. It’s a move that experts say may make it hard for firms to make year-end deadlines. But others point out the additional time away can be beneficial for both employees’ mental health and the retention of talent. ?

Read the full article here.

2) End-of-Year Raises: 5 Ways to Ask Now

Last year, two-thirds of workers in one survey intended to ask for a pay increase. This year, employees are feeling even more financially squeezed, with 76% saying that the cost of living is outpacing their wage growth.

But the big mistake, experts say, is stalling and not asking until the start of the New Year. Leaders, it turns out, typically determine salary increases and pay bonuses between January and April—and setting yourself up for a healthy boost requires months of preparation. Experts say it’s time to plant the seed now. Leaders need to be reminded about your impact long before the pay-review cycle begins, so they have plenty of time to make your case to their own boss.

Here are the stages to manage. ?

Read the full article here.

3) Manufacturing’s Hiring Funk

Just how rough has it been in America’s manufacturing sector? For seven straight months (and 23 of the past 24), manufacturers, as a group, have been taking fewer orders, drawing down existing inventories, paring back their workforces, and otherwise shrinking their business. In October, 20% of firms reported having lower head counts than they had in September, while nearly 30% reported fewer new orders.?

Even as the artificial-intelligence and consumer-products sectors make business headlines, core industries—including automobile manufacturers, textile mills, appliance makers, plastics producers, and fabricated-metal producers—have quietly been in a funk for years. And it’s taking a toll on the job market: Companies are leaving a huge number of roles open while they wait hopefully for business to pick up.

Read the full article here.

Other Must-Reads from Korn Ferry

• Where Did Promotions Go? - Promotion rates are down 23% in two years, to roughly one employee in 10. How can firms motivate the disappointed?
• 5 Ways to De-stress at Work - Many feel overwhelmed at work, but this series of steps can help.
• When Thankful Meets Thoughtful - Leadership, says Korn Ferry CEO Gary Burnison, means both inspiring others to believe and enabling that belief to become reality.

Check out?Briefings, our bimonthly national magazine, for in-depth and unusual looks at critical leadership issues.