Job offers

Canceling job offers should encourage people to seek managers with a high level of emotional intelligence

Coinbase, the major cryptocurrency platform, has instituted a pause in hiring. These actions are in line with many other tech companies, as more than 17,000 American tech workers were laid off recently.

The downsizing and hiring freeze are attributed to a confluence of events, including runaway inflation, supply chain disruptions, rising costs across the board, and the continuing war in Western Europe. the East that could trap the United States with greater involvement. When it comes to the tech sector, overly optimistic valuations of startups, with no earnings to justify market caps, and stock prices of big tech companies have crashed.

The cryptocurrency exchange, along with Redfin, Twitter and other tech companies, have deviated from the methodology of other companies that are carrying out job cuts and hiring freezes. They went so far as to rescind job offers to candidates who were ready, enthusiastic and ready to start working. Coinbase announced on its corporate blog, “In response to current market conditions and continued business prioritization efforts, we will be extending our hiring pause for new and replacement positions for the foreseeable future and canceling a number of accepted offers”.

Cancel job offers

The cancellation of an offer is a rare event. In 25 years of recruiting, I’ve only seen this happen a few times. All of these cases were due to applicants providing misleading or blatantly false information about their background. This left companies with little or no other choice, as job seekers lied on their resumes and in statements made to interviewers.

Most job offer agreements are entered into with the understanding that it is “at will” and that either party could decide to change their mind. The company might fire someone and the worker might decide to leave for a better deal. There’s something different, however, when the rug is pulled under the recipient of a signed offer letter before they even start work.

This raises questions about a company’s ethics. This calls into question whether they have empathy for the people they employ. The situation places the person in a precarious position, as they no longer have a job and are now in a difficult labor market. A lesson learned is that job seekers must now look for companies whose managers possess emotional intelligence.

Why emotional intelligence is an important quality in a manager

Emotional intelligence (EI) is the ability to treat individuals with respect, empathy and compassion. People with EI interact empathically. They are acutely aware of the feelings of the people they are dealing with.

Managers with a high level of EI are curious, ask questions of their team, listen actively and really want to hear their comments and constructive criticism. Armed with this knowledge, the supervisor can make the requested changes, thus improving the work life of his team. EI leaders remain calm under pressure, provide psychological safety for their employees, control their emotions, and implement thoughtful decisions, all while being aware of their impact on the team.

In light of the job cancellation debacle, this should be an eye opener for job seekers. Job seekers need to have their antennae out to detect whether interviewers are self-aware, empathetic, and polite. The glaring red flags of a management team lacking employment insurance are demonstrated early in the interview process. Warning signs include the company forcing you to accept interview times that don’t suit your schedule, canceling meetings at the last minute, interviewers showing up late, unprepared and having no read your resume, neglect to share comments and ghost yourself.

What job seekers should do now

You cannot take for granted that the company and its management team will be empathetic to your needs. When you’re interviewing, you need to ask the tough questions to get a sense of how leaders react to tough times.

You should ask yourself, “What if there is a change in the economy and the financial situation of the company? Would one of the first things be to downsize or will we be protected? » Ask about the background of the company. “How have you handled layoffs during the pandemic? Have you provided severance packages and help finding new jobs to people who have been laid off or left to their own devices? »

The pandemic has caused people to change the way they view work. Workers want to be treated with respect and dignity. There must be a balance between life and work. Employees want the freedom to have choices, such as flexibility, distance, hybrid, office, digital nomad, and the ability to relocate to other cities while maintaining the same compensation.

How to spot managers with a high EI

Leaders with IE have strong skills in self-awareness, self-management, social awareness, and relationship management. These special breeds of bosses tend to make better decisions, maintain their composure under pressure, skillfully resolve conflict, respond positively to constructive feedback, work well with others, and demonstrate leadership abilities.

Management needs to learn and understand what will make workers happy and productive, then initiate the appropriate actions. If they have young children, care for sick parents, have a disability, or have other individualized needs, leadership must provide individualized attention to their wants and needs. Companies need to be vigilant to ensure that their employees don’t silently suffer from mental health issues and burnout. There should be programs in place to prevent these challenges and provide policies in case they suffer.

In today’s war for talent and the era of the great resignation, managers need high EI to attract, recruit and retain talent. Empathetic leaders ensure that workers can bring their true selves to the office and are empowered once they are there.

They provide options on how their employees can work. These are the managers who will not shout or embarrass their employees in front of their peers. You will not receive emails, texts or calls on nights and weekends. They don’t cope with fear and intimidation. EI leaders share their mission, ensuring that everyone knows their role and the importance of their contributions.

There will be celebrations of victories and the amplification of the efforts of the workers who surpass themselves. They will help their team reach their full potential. This can be done through promotions, lateral moves within the organization, or even encouraging a star to pursue an opportunity outside of the company, as it will benefit the person.

Whether you’re looking for a new job or deciding to stay with your current company, a key ingredient is having an EI manager on your side.