01 Mar “Yanking job offers”
Remember last summer when a wave of rescinded job offers hit? I do.
“Some workers are accepting job offers, only to see them revoked before their start dates. What’s going on?” –https://www.bbc.com/worklife/article/20220729-why-companies-are-rescinding-job-offers published on August 4, 2022
Please, please be careful with clickbait and feel-good viral posts. Will they be of great help to you in a recession? I can’t give you advice, but speaking for myself and my family: hell no.
Wishing that companies had learned more lessons from The Great Resignation will not make it so. And that’s why I am telling you that IMO, Corpo America is gonna do what it is gonna do. If that includes things like:
-Hiring freezes, layoffs, and rescinded offers
-Demanding RTO / making it more difficult or costly to WFH
-Cutting their budgets
then that’s how it’s gonna be. 🤷🏻♀️
–https://causeyconsultingllc.com/2022/08/12/yes-agreed-but-theyre-gonna-do-what-theyre-gonna-do/ published August 12, 2022
As I went to take a look at the side panel for LinkedIn news, there was a post that came up that is very sad, although not shocking. I will omit the person’s name and location and all of that, but I do want to read the text of this post to you as a warning more than anything. If you still have your head buried in the sand, if you still think everything is sunshine and roses, 3.5% unemployment rate, labor shortage and all of that, it’s way past time to wake up in my opinion. So here’s what the post says: ‘I write this on what was supposed to be my first day of a new job I was very excited for however after working out my two week notice that my previous company the new company, I fully accepted an offer to pass background and filled out all required information I decided to rescind my offer the Friday before I started. I sit here now just in complete disbelief and without a job. I have a wonderful family and no way to support them at this time. I have never heard of a company doing something like this but this company did and it is the worst feeling in the world. I now ask for your help in my two as I begin my search for a new job.’ It is very sad and it is very depressing. But this is not an isolated incident. I understand what this person is saying that he had never heard of a company doing something like that. However, it’s been all over the news about rescinded offers, and I think we need to be careful about normalcy bias. I think we also need to be careful about, ‘Well that might happen to the guy down the street or that might happen to Sally Sue, that might happen to Billy Bob, but it would never happen to me.’ Well, it could. That’s the thing– it could it absolutely could. And I’m not saying that to fearmonger, I’m not saying that to victim blame. What I’m saying is: if you’re still putting your head in the sand thinking that everything is unicorns and lollipops and sugar gumdrops, what’s it going to take? Seriously, what is it going to take?
-“Saturday Broadcast 11,” published on August 13, 2022 https://www.buzzsprout.com/1125110/11102388
“As tech companies and other firms lay off workers by the thousands, some are also revoking job offers — sometimes just days before the start date and long after would-be employees relocated or restructured their lives. Rescinding of offers is not as widespread as layoffs, but the practice could grow if the economy heads into a recession.
‘If the economy is where people think it’s going to be and we’re in the middle of a meaningful recession, I would expect you’ll see an impact to graduating college students and business school graduates,’ said Dan Kaplan, senior client partner at Korn Ferry, a management consulting firm.” -LA Times, Ibid.
If? If the economy is in the middle of a recession? WAKE UP.
“After graduating in December from the University of Washington, Zhao packed up his life in Seattle, relocated and signed a lease for a new apartment. Five days before his start date, he got a call from his employer telling him his offer was rescinded because of reductions in company expenses.
‘I felt desperate at that moment,’ Zhao said. ‘I’ve prepared everything for the job. It’s the darkest day of my life so far.’
Although the trading company paid $10,000 of Zhao’s relocation costs, the high rent in Chicago forced him to leave the city, move back to Seattle and stay with a friend. He’s now facing a tough job market flooded with out-of-work engineers — after submitting more than 100 job applications, he got only a few responses.” -LA Times, Ibid.
Remember in A Christmas Carol when Scrooge talks about the poor relying on prisons and workhouses and how, if they don’t wish to go there, they should die and decrease the surplus population? As I’ve said many, many times: companies do not answer to us. They don’t. They answer to people like investors, board of directors, shareholders, etc., but not to John & Jane Q. Public. If you want to be further horrified on this topic, go read Glenn Greenwald’s book With Liberty and Justice For Some. The fat cats protect each other and don’t worry about the unwashed masses. So that’s one part of this– these companies do whatever it takes to stay profitable and don’t worry about the consequences to the “surplus population.” The other part is: no, we don’t have a 3.4% unemployment rate!
“He’s now facing a tough job market flooded with out-of-work engineers — after submitting more than 100 job applications, he got only a few responses.”
Uh yeah. That is the current reality. Not everyone can get a job in fast food or retail and be A-OK financially. You may apply for a job on LI or Indeed and within hours, see that hundreds of other people have, too. Oh but yeah, sure, that Great Resignation will last forever and 2 open jobs for every 1 unemployed person. 😒