Economics Affecting the World of Work with Economist Diane Swonk
Release Date: 05/20/2022
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info_outlineEmployees leave their bosses, not the company.
The biggest reason best workers leave organizations is poor leadership despite high wages and generous bonuses.
It is not always about what leaders can provide their people but how leaders can value them as people, not as fungible commodities.
In this episode of the Fifth Dimensional Leadership podcast, I interview Diane Swonk, the Chief Economist at Grant Thornton. Diane is one of the most respected macroeconomists who maintains a unique perspective on Main Street's inner workings as well as those of Wall Street. She is an expert on labor market economics, monetary policy, and structural changes that are distinct from economic cycles.
Diane has won many awards for excellence in forecasting and leadership in economics and the business community. She is deeply involved in nonprofit organizations focused on expanding access to education and increasing the quality and diversity of our country's leadership. She earned her BA and MA degrees in Economics from the University of Michigan and received an MBA in Finance from the University of Chicago.
In our conversation, Diane talks about the economic challenges affecting the labor force and the world of work.
- How to deal with the “War for Talent.”
- Why diversity is essential in the workforce to ensure organizational productivity.
- Operating successfully in the world with Dyslexia.
- Why empathetic leaders are better at retaining talent
- How immigration is impacting workforce growth
- The silver lining from the COVID pandemic
- The impact of the war in Ukraine and Long COVID on global economics
Quotes
“As an employer, you need to think about casting the net much wider in terms of the talent pool and unleash the talent that’s out there.” - Diane Swonk
“Lean into the knowledge that we do have challenges, but we also have solutions that we can think of holistically that may accelerate the change we are waiting for in terms of leadership.” - Diane Swonk
“Leadership is about putting the puzzle pieces together to see not just the pieces, but the bigger picture.” - Diane Swonk
“The biggest thing you need to think about as a leader is how you can get people to get air under their wings and soar.” - Diane Swonk
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