From ChatGPT to post-pandemic turnover, your weekly insights from across the executive talent acquisition, retention, and optimization industry:

• Will AI/ChatGPT influence your hiring techniques? Check out what happened when ChatGPT structured interview questions for a CEO to ask when hiring a new Head of Talent: 
  • Article on Inc: https://www.inc.com/suzanne-lucas/when-a-chatgpt-bot-interviews-a-chatgpt-bot.html.
  • [Hint: look at the quality and detail and nature of the answers that ChatGPT gave when asked to RESPOND to these questions….)

• February U.S. Unemployment Rate as of Friday March 10, 2023
  • moved up .2% to 3.6% from 3.4%. However, this represents a very small delta, as this number has been relatively similar since January 2022.
    Notes: for those with a college degree, it is usually HALF of the gross number (so ~1.7% unemployment in February for college grads). https://www.bls.gov/news.release/pdf/empsit.pdf
  • Solid analysis in the LinkedIn Weekly Wrap Up on “hiring is hot” but wage increases are not… https://www.linkedin.com/news/story/hiring-hot-wages-cool-in-february-5572516/ 
• Culture fit and impact on new hire turnover post-pandemic.
  • According to Harvard Business Review & Gartner, turnover is forecast to be 50-75% higher than companies experienced prior, and it will likely take 18% longer to replace empty positions. https://hbr.org/2022/07/its-time-to-reimagine-employee-retention. The impact of culture fit on turnover and how to interview for culture fit, https://www.businessnewsdaily.com/6866-hiring-for-company-culture.html. Study on culture misfit and employee departure
  • LinkedIn wrote and build a Tableau model of what is called the “Survival Curve” on how to measure a company’s likelihood of future attrition. For more on the how-to, see https://www.linkedin.com/pulse/survival-curves-tableau-hr-data-chris-short/