Why the Productivity Surge Could Become a Problem

Not even two years ago, leaders were lamenting that their organizations—and their workforces—needed to become more efficient. Those bosses got their wish: The nation’s productivity has surged for three straight quarters. But is it sustainable? Plus, with a surge of interest from retirees seeking to return to work, our latest Briefings Podcast looks at the unique challenges anyone over age 50 faces when looking for a new job.

Productivity Rises and Rises. But for How Long?

When it comes to productivity trends, US businesses have been on a torrid pace.?Productivity increased 3.3%?in the fourth quarter of 2023, well above the 2% analysts expected. For the year, it grew 2.5%—again, ahead of predictions. News headlines alternately described the growth as “strong,” “rapid,” or, yes, “blistering.”

But keeping this up is no easy task for corporate leaders. Indeed, experts caution that over the last two years, firms have pulled every available lever to increase productivity, and that continuing the current pace of growth can only come at a cost—whether in terms of economics or head count.

Read the full article here.

A New Return-to-Office Trade-off

What’s more valuable to leaders—keeping as much top talent as possible, or having everyone working together in the same location? Increasingly, bosses might be faced with that choice.

In yet another new wrinkle to return-to-office mandates, a study indicates that high-performing employees are twice as likely as average employees to consider leaving an employer that imposes a strict RTO policy. Women and millennial-aged employees were also more likely to consider leaving, albeit to a lesser degree.

Read the full article here.

Briefings Podcast: Work in the Age of Ageism

Half of workers aged 50 to 59 will lose their job at some point. Are they—and other older workers—being pushed out? We talk to a job-seeking senior and a top career coach about how senior workers can better the odds.

Watch the podcast here.

Other Must-Reads from Korn Ferry

• ‘Unretiring’ to Work - A new study shows retirees returning to work is no longer just a trend but rather a permanent feature of the new world of work. How are leaders and other workers reacting?
• Your Next Career Pivot: Healthcare? - Health-related fields are adding one-quarter of all jobs in the US. Why is this former “tortoise” field so hot?
• Leadership U - Korn Ferry CEO Gary Burnison explains why leaders need to be able to toggle among multiple leadership styles.?

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