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Showing posts from January, 2023

The hottest IT skills for 2023 – even in a recession

“It was the best of times, it was the worst of times,” wrote Charles Dickens in his 1859 novel “A Tale of Two Cities.” If he’d been writing today, that statement could very much apply to today’s IT personnel and hiring landscape.  For many of the hundreds of thousands who’ve been laid off by tech companies recently, this might well be considered the worst of times — especially with a recession looming. Yet there are plenty among them, and others in the workforce, who could consider this the best of times. Why? Because they possess the most in-demand skillsets and certifications. Despite the layoffs, cutbacks, tightening pursestrings, and general doom and gloom presented in the media, these IT professionals can look forward to higher pay, plenty of offers, perpetual headhunting inquiries and even the occasional bidding war for their talents. Below are some of the hottest skills and certifications in IT, in no particular order.  Filling the IT skills gap Firs...

Tough Times Can Make Tough People, but What About Companies?

A hot topic during the pandemic, there is now a large body of resources and literature on resilience. However, most discussions on resilience focus on individuals. While building individual resilience is essential, resilient individuals don’t necessarily guarantee a resilient team or organization. How can we do it better? What is Resilience? The word is derived from the Latin resiliere, resilience means to “bounce back.” According to the APA, resilience is “the process and outcome of successfully adapting to difficult or challenging life experiences, especially through mental, emotional, and behavioral flexibility and adjustment to external and internal demands.” Among the many tools used to measure resilience is the Connor Davidson Resilience Scale, a 10- to 25-item scale that measures, among other things, the ability to adapt to change, cope with stress, stay focused, not get discouraged, and manage unpleasant feelings, such as anger, pain, and sadness. On the ground, howeve...

What Is a Recession and How Do You Prepare for One?

The news is abuzz with rumors of the next recession coming in 2023 or 2024. But for most Americans, all of that triggers a sudden panic and a desperate need to look at one's bank account. What is a recession, what does it mean, and how can you prepare yourself and your family's finances for one? This article will answer each of these questions and more. By the end, you'll know what to expect and how to prepare for a recession. What is a recession? According to economists working for the National Bureau of Economic Research, a recession is a prolonged period of economic downturn or declining economic activity. It affects a nation's or the world's entire economy and lasts for a few months or more. In some ways, the best way to understand the recession is to compare it to "regular" or positive economic activity and GDP. GDP (gross domestic product) is essentially the combined value of the goods and services made by an economy, like the American ...

Is Your Company Preparing For Layoffs? Here Are 4 Subtle Warning Signs

Is Your Company Preparing For Layoffs? With the recent spate of company layoffs, job cuts loom large in employees' consciousness these days. There's even been talk that the quiet quitting phenomenon has abated as employees fear for their jobs. How can you tell if your organization is prepping for layoffs? There are obvious signs, like a memo from the CEO announcing a push for efficiency. Or the hiring of a consulting firm known to specialize in process improvement, efficiency, or cost savings. Or the departure of some of the firm's top-level executives. There are also more subtle signs that a company is readying itself for layoffs. Here are four that are easy to spot (once you know what to look for). #1: Hints In Earnings Reports And Other Communications Companies are notoriously bad at communicating openly with employees, especially about the challenges the company is facing. In Leadership IQ's study, The Risks Of Ignoring Employee Feedback, we discover...

What Makes a Successful Digital Transformation?

As concepts like cloud technology, real-time analytics, and the internet of things (IoT) continue to transform the business landscape, companies with high levels of digital maturity stand the best chance of succeeding. For businesses that rely on manual methods, this means that embracing digital solutions is no longer a choice — it's a necessity. However, with 70% of digital transformations failing to meet their objectives, digitizing your business is no easy feat. If you're serious about driving real results, this guide covers five best practices for launching a successful digital transformation — from prioritizing strong leadership to reimagining your company's culture.  Tech.co's Guide to Successful Digital Transformation: What Is Digital Transformation? Digital transformation is the process of integrating digital technologies into all areas of a business, to create fundamental and sustainable change. While the end goals of digital transformations vary ...

How To Create A Money-Making Mindset

To be successful as a business owner, having a money-making mindset is essential. A money-making mindset means setting your sights high and being willing to do whatever it takes to make your business thrive. With the right attitude, you can achieve great things and make a real difference in your bottom line. How To Create A Money-Making Mindset Anyone who has ever started their own business knows that it is not an easy feat. Many challenges come with being your own boss, from finding clients to managing finances. A positive money mindset is one of the essential things for any business owner. This means having a healthy relationship with money and believing that you are deserving of success. When you have a positive money mindset, you will be more likely to take risks and invest in your business. You will also be less likely to give up when things get tough. Having a positive money mindset is essential for any business owner who wants to be successful. In 2022, women held 32 p...

These 9 States Have No Income Tax — But Are They Better or Worse For Your Finances? Here's Everything You Need to Know.

Income tax can take a big bite out of your wallet and your business's bottom line. But not every state in the union charges income tax. Some states, like Texas, have become well-known as business havens for budget-minded entrepreneurs partly because they don't charge income tax. For comparison, here are the nine states with the highest income tax rates: California - 13.30% Hawaii - 11.00% New York - 10.90% New Jersey - 10.75% Oregon - 9.90% Minnesota - 9.85% Vermont - 8.75% Iowa - 8.53% Wisconsin - 7.65% This article will look at nine states with no income tax and explore everything taxpayers need to know about these tax-reduced territories. What is income tax? Income tax is a crucial source of revenue for state and federal governments worldwide. There are several types of income tax that you might have to pay depending on where you live. An individual income tax is levied on individuals' wages, salaries or other income. States usually impose these....

How to Lead With Resilience, Empathy and Vision Despite an Uncertain Future

Opinions expressed by Entrepreneur contributors are their own. People are struggling right now. With inflation rates hitting a 40-year high, nearly half of Americans are finding it hard to make ends meet. Many are still adjusting after Covid-19 up-ended life as we knew it, and the world seems to become more embroiled in social and geopolitical unrest every day. We live in uncertain times with an even more uncertain future, and employees and leaders alike may feel their legs wobble underneath the weight of it all. Times of change and uncertainty fundamentally blur our vision of the future, and it can be hard to see even a few feet in front of us. In such times, it is on leaders to rise above the challenges of our current context, cut through the cacophony of the outside world and inspire their teams to work toward the mission at hand. Avoid leadership traps Leadership on a good day, during a good year, is challenging enough. The context we are living in right now makes it ...

Three Ways Business Clients Can Maximize Profits in the New Year

The new year is a great time to help your business clients reflect on the past 12 months and strategize new ways to improve their bottom lines. This means giving them a deep analysis of their finances over the past fiscal year to help them understand the causes of any financial shortcomings and notable sales trends. More important, it is paramount that you help them pinpoint new ways to boost overall profits. If you can help your business clients discover new tactics to maximize their profits, you’ll set them up for greater success and growth. In my experience as the CEO and founder of CMA Exam Academy (a Certified Management Accountant exam review program), I have discovered some useful ways companies can ramp up their profits. Help Them Locate Waste in Each Business Process As they go through their day-to-day, your clients may not even know that costly waste is happening all over their enterprise. From too much manpower in a delivery fleet to wasted raw materials in a product...