I am an Xer who manages a small but crucial team at my workplace (in an EU country). I had a lady resign last week, and I have another who may be about to resign or I may have to let go due to low engagement. They are both Gen Z. Today it hit me: the five years I’ve been managing this department, the only people I’ve lost have been from Gen Z. Clearly I do not know how to manage Gen Z so that they are happy working here. What can I do? I want them to be as happy as my Millennial team members. One detail that might matter is that my team is spread over three European cities.
Happy to provide any clarification if anyone wants it.
Edit. Thanks for all the answers even if a few of them are difficult to hear (and a few were oddly angry?) This has been very helpful for me, much more so than it probably would have been at the Old Place.
Also the second lady I mentioned who might quit or I might have to let go? She quit the day after I posted this giving a week’s notice yesterday. My team is fully supportive, but it’s going to be a rough couple of months.
If they have to pay more for these job hoppers, how is it more expensive?
Are they also ignoring the costs that go into training, knowledge drain, downtime due to those issues, etc? One seasoned employee, who is actually good, can have more value than an entire team of people with high turnover, at a fraction of the cost.
usually the savings are in benefits, and the expectations of raises. You’re also assuming they’re hiring from similarly qualified and experienced. They’re not. they’re hiring inexperienced people with lower qualifications… and frequently, the new people will be low balled as well.
And I’m not arguing that experience is valuable, but the large companies don’t see it that way. large corporations are quite literally only concerned about short term profits- the get rich quick schemes. they’re not not concerned at all about producing quality products over the long term, or developing healthy work environment sore anything else. strictly what yields the highest profits in that moment.
I always find it odd that the most successful investor of all time is a buy and hold value investor, yet the whole market is obsessed with short term bull shit. I guess buy and hold is too boring for these people to justify these big companies, news stations, and newspapers.
I wonder if the government can do anything there. Surely it is better for a country to have strong and stable business to prop it up, and provide good jobs to people that allow them to feed the economy.
Mostly it comes down to companies being owned by institutions like black rock or vanguard, who don’t really care about anything other than what makes money- and are perfectly okay jumping ship when it doesn’t.
This means that they’re controlled by shareholders that only care about steadily increasing profits over a very short period (quarterly).
Also just to point out that buffet doesn’t just dump everything into the s&p like he advised every one else to do. He utilizes a broad mix of strategies- including things like swing trading across opportunities his horde of fintel peeps find for him.
I hate those hedge funds that buy up companies. It should be illegal. It never goes well.
He tells normal people to invest in the S&P, because normal people just want a decent return over the long term. They aren’t going to sit at home reading financial reports like he does.
And let’s be honest. He’s getting completely different financial reports than we do. It’s an information game, and he pays to have the best information before anyone else. Buffet ain’t using yahoo finance.
He didn’t start out as anyone special in that regard.
If you’re claiming he gets early access now, that would be illegal. Insider trading and all that. With his success and all this time, it seems that would have come out by now.
Do…. You know what a Bloomberg terminal is? Professional traders/investors pay shit loads of subscription fees to get that early access.
HFT hedge funds are literally paying millions to be inches closer to the exchange servers than their competitors because they flip trades so fast that an inch of fiber is the difference between winning and loosing.
You market makers that are literally paying your brokers for them to give them your trades for fulfillment. They rely on up-to-the-nanosecond market data to arbitrage on your trades- if you’re slightly off in that order’s pricing they’ll front run the trade, give you the stock at your bid or ask and shave off that hundredths of a cent. Citadel the MM is paying billions for PFOF, and they’re not doing it to do you a favor.
Speaking of Citadel Securities…there’s actually two entities called Citadel- Citadel Securities is a hedge fund that made 16 billion when most everyone else was loosing money. The other is, of course the hedge fund. Both owned by Kenneth Griffin, who definitely isn’t where he is because of his oh-so-me able face.
Does anyone actually think they’re not vertically integrated? Of course the MM is sharing data with the hedgie.
All the while… the SEC is wanking off. Literally.
Sorry, but the only way they can say the us stocm market system is “fair” is that if you had millions you two could fuck around and…. Pay a fine that’s cents on the dollar for finding out.
I’m aware of Bloomberg terminals. That isn’t insider trading. If you think $2,000/month is worth it to you, have at it. From their website, the only thing I see them say is that Bloomberg news is posted first on Bloomberg terminals. That’s like the NY Times saying their news is first posted on nytimes.com. Of course. And when I’m talking long term value investing over decades, that isn’t a news driven activity. If you invest at 10am or 3pm, it’s not going to really matter in 30 years.
HFT is one of the things I was talking about when I said the “the whole market is obsessed with short term bull shit”.
The brokers using middle men to turn a profit on 0 commission trades by selling order flow is why I avoided all those apps like Robinhood and WeBull… more bull shit.
Of course the market maker is making money while everyone else is losing. They aren’t making a profit off the stock movement, they’re making their pennies off the spread, and doing it at scale. As long as the volume is high they’re going to make money. Long term value investing means they make less money, because people aren’t buying and selling multiple times per day, or millions of times per day if some HFT BS is going on.
You don’t have sit at the top of the pyramid to win in the market. The average Joe has more access to the markets than at any time before in human history. You have it much easier than Buffett did starting out. Who gives a shit if some hedge fund in NYC is making a bunch of money, what does that have to do with your trades? Fuck all. Invest consistently over time and think long-term. It’s the amateurs who are trying to buy and sell all the time to time the market who end up getting screwed. That has nothing to to with the hedge funds, that’s all personal choices.
Warren Buffett will buy and sell quickly if his investment meets or exceeds his targets. Berkshire Hathaway has a stock portfolio in the hundreds of billions of dollars.
What he won’t do is act without a plan. He has a unique ability to see long term advantages, that’s why he holds over the long term. Short term opportunity exists too, but many people who look for it are impatient.