✍🏼The Weekly Status
Hey there 👋🏼
In today’s email:
The Weekly Status: A simple but effective framework to communicate your weekly status.
55970: The sad numbers of 2023.
Cool stuff on the web: The best stuff on the web.
Post of the week: 5-star on social media.
THE WEEKLY STATUS
Some companies have a habit of sharing a weekly status with senior leadership to get everyone acquainted with the major work blocks of the previous week.
Here are some tips for you to improve your reporting habits:
Tailor to the audience
Think about who's going to read this report.
What level of knowledge do they have about your work?
How about what type of language are they accustomed to?
Adapt the text in the vocabulary and style you're writing to the audience that will read it.
Your impact will be more significant.
Celebrate your victories
You don't need to list every single completed task, but make sure you reinforce and celebrate your team's victories!
Be proud of the work you and your team have just achieved.
Embrace transparency
Things sometimes go differently than planned. Be the first one to stand up and talk about the incidents that happened in the previous week, independent if they had a minor or major impact on your platform.
Being open about what happens promotes a culture of accountability and trust.
Before you know it, everyone will be doing the same!
Include relevant documentation
The 15/30 seconds available to present a particular status are not enough to explain everything.
Ensure you leave relevant documentation for people who want to follow up and learn more.
Make this a practice, and you'll spend less time explaining the same things repeatedly.
Keep it concise.
No one wants to read endless paragraphs about an incident, the causes, the effects, everything that everyone said and what minute.
If you're going to share your status, be straight to the point and concise and don't waste anyone's time, including yours.
Point out the essential topics, and enrich the report with "want to know more?" links that allow the interested reader to jump into the issue.
55970
In just 21 days, 55970 more people were informed that they would be let go.
These sad but impressive numbers add to the 158951 people laid off in 2022.
The latest information is that the people who let go are no longer new hires or underperformers. We’re talking about extremely valuable and tenured members affected by the layoffs.
If you look at the chart below, you can see how the tech industry was initially affected by COVID-19. Companies like Booking.com, which rely on people travelling, were significantly affected by the pandemic and travel restrictions imposed in several countries. Back in 2020, Booking.com laid off 25% of its workforce. To this day, Booking.com represents the seventh largest layoff, with over 4000 people affected.
You can also clearly see that once businesses impacted by COVID-19 adjusted to the new reality, no actual layoffs were seen. Actually, the market was booming, and these companies scaled up significantly with the newly found revenue. If you pay attention to the layoff announcement messages for companies like Shopify or Google, the trend is the same. They all thought the new market reality and demand generated during 20/21 would become the norm.
As soon as people returned to their everyday lives, the market returned to a similar reality to the one we had in pre-pandemic times. Tech companies that grew significantly weren’t seeing the revenue they were expecting, which was essential to support the newly hired workforce.
These companies, especially the publicly traded ones, were forced to do one thing: layoffs. So here are the top 10 numbers in layoffs so far. And these are scary numbers:
2023 continues the trend from 2022, with 4 from the top 10 being announced in the first 20 days - Google, Microsoft, Amazon and Salesforce.
If your company is hiring, remember that an incredible talent pool is looking for a new challenge.
If you want to dive deeper into these numbers, be sure to check out Layoffs.fyi
COOL STUFF ON THE WEB
🧵 7 Leadership Principles I want to embody in 2023 | Dickie Bush
🎧 👇🏼 Controlling your Dopamine for Motivation, Focus & Satisfaction 👇🏼
Can’t even begin to explain how good this episode is! It should be a mandatory listen for anyone interested in improving and feeling more motivated 💪🏼
POST OF THE WEEK
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Have an incredible week! 💪🏼
Parada 👊🏼 A Leader's Mindset