Up next in 10
Thousands of employees have been recently laid off by startups, mid-size companies and big techs. We have invited a career expert, Sweta Regmi, founder of @Teachndo to talk about mass layoffs, if AI such as ChatGPT, could take over your job, automation, chatbot revolution, which has allowed companies to replace customer service reps with bots, and uncover what skills would be beneficial for jobseekers.
00:00 - Introduction
00:28 - About Sweta Regmi, Founder of Teachndo.com
01:28 - If ChatGPT can take over your job
03:18 - Good and bad segments in hiring
05:25 - Skills that would be beneficial for jobseekers
10:34 - Layoffs in medium companies
11:58 - Layoffs and consumer behavior
#layoffs #employees #chatgpt
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0:00
Chat GPT that can write code, good code
0:03
Chat GPT that can pass graduation exams at most universities. You've got to understand how do you optimize your LinkedIn to end up in recruiting because recruiters are using AI too
0:15
Do you see any good segments where people are hiring? Companies really have to start thinking about it
0:27
My name is Sveta Regni. I am founder and CEO at Teach and Do and I'm a certified career strategist and resume strategist
0:37
I used to hire a lot of people, meaning I came from the hiring background, more than a decade of hiring background
0:43
And then I got laid off. So in one minute over the phone, then it was really hard for me to bounce back because, you know, when you're in the same environment for years, you don't know what's out there, what's trending outside
0:58
and it was extremely difficult. And when you go through so many roles and together
1:02
you feel like you can do it all. I don't know if you feel that too
1:06
Then I had that self-doubt moment, the clarity. I bounced back and then I quit within a year
1:13
And then I decided, you know what? I was doing this as a side hustle, not charging people
1:18
Then I said, you know what? I'm going to go and launch this fully out there
1:22
because there were some gaps in hiring system. Let me go ahead and fix it
1:26
And here I am today. It's absolutely wonderful to meet you, Sveta. A wave of layoffs just came about in technology companies. A week after that, the wonderful news of chat GPT came out. Chat GPT that can write code, good code. Chat GPT that can pass graduation exams at most universities. What's going on
1:52
So it's super helpful to understand the world of AI, whoever made it
1:58
It's a great tool. I have used it. I was fascinated by it
2:02
I was kind of like addicted, to be honest, just to find out what it could do, right
2:07
So for resume writing, a lot of people are saying, are the resume writers in the Adam's job
2:12
I don't normally write the resume. I teach how to write the resume. So when I started just giving them, feeding the information, it just gave me, it's like, it's not outstanding resume
2:24
You know, I would not hire someone if they gave me the resume like that. I think any AI, they need the clear directions
2:32
Whoever's feeding the information, they really have to be knowledgeable to get the output
2:37
That's my opinion, right? so if you don't know what you're doing chat gpt is going to just split out whatever they want to
2:44
based on their memories or whatever they're pulling the data from information from but you
2:48
got to be the smart one to navigate around that chat gpt or any ai tool to get the best result
2:54
in my theory i only got the result that i wanted when i knew what i wanted to feed in from the job
3:01
descriptions right as a hiring manager what would i look for i gave them the word okay plug this plug
3:07
this now give me this right like this right you still have to initiate that and if you're not
3:12
training the person whoever is typing that information the coding is going to be down the
3:17
drain so mass layoffs economy is slowing down technology is suffering what other segments do
3:27
you see suffering right now as far as employment is concerned besides technology do you see any
3:34
good segments where people are hiring. What can you tell us about that Absolutely So let go with the things that it moving away from the workforce Talking about the AI right Having been to Walmart lately like you know literally those industries all the customer service are gone You have a self machines that people are getting used to not seeing people anymore
4:02
So I feel like those things, customer service roles, more kind of like entry level roles are moving towards the AI
4:11
And that's sad because now where are they going to go and transfer those skills, right
4:18
So they have to pivot. So these are the people on the entry level are easily replaceable now from what I've seen
4:24
And then I think when it comes to what's coming up in the pipeline, meaning what would be the trending thing would be still the technology
4:33
We cannot live without it. We've lived in the world where look how far we've come. Right
4:38
From like the bigger phone to like smaller one. Now we're moving towards it's back and forth
4:43
So I think technology is not going to die. It's just a matter of upgrading your skills to the skills that you want to upgrade it into that market
4:52
If you've never upgraded it 10 years back, it's not going to be the same
4:56
You've got to adapt to the market. And AI is huge. It's a billion-dollar industry
5:01
People are funding left and right. And if you want to go back to the tech industry
5:07
gone are those days where you've never upgraded it. You've got to understand the different market
5:12
And that's where I think people are going to be ahead of the game
5:15
only if they try to understand the AI tech that's coming up in the pipeline
5:24
Yes, I agree. Where shall people start training for what kind of profession
5:30
So you've mentioned learning AI in order to use the technology. You're not suggesting them to start building AI
5:38
Not everyone is capable of doing that, but at least understanding how AI works
5:45
that's one area where else can people go and what other for example factories are factories coming
5:53
back to the united states from china what do you see i don't know um is it because us as um i come
6:00
from canada and then we we love to outsource because obviously the taxes are high here
6:05
and outsourcing has been really good for the companies but are they coming back are they
6:11
willing to pay that even the minimum wage, right? But then it's half of it wherever they're paying
6:17
out there. So I think the companies really have to start thinking about it. And as an individual
6:23
let's go back to the job seekers. As career professionals, I feel that you got to be visible
6:30
you got to build a brand. And how you do that is knowing what's out there on social media
6:35
right? So for example, if you're not on, let's say LinkedIn, why are you not? Because a lot of
6:40
recruiters are looking for people like you, you've got to understand how do you optimize your LinkedIn
6:45
to end up in recruiting because recruiters are using AI too, right? So you've got to understand
6:49
the backend system before you start pointing the fingers. Hey, it's not working for me. There's a
6:53
hiring biases. What are you going to do differently from 10 years? Because it's not going to be
6:58
knocking on someone's door and then dropping their resume, right? So you've got to understand that
7:03
And then I think where I see, I don't know if you've seen the trend is social media marketing is huge
7:11
Like if I have to hire someone, I could literally hire more than 10 people just for social media, right
7:16
Getting the leads separate people the expert business development someone else posting things on Facebook and LinkedIn So you cannot be subject matter expert in all social media They like TikTok media expert there Facebook media expert there how do you build a
7:34
brand on LinkedIn? So there are things that you can hone in only if you want to, right? So these
7:39
things are not going to go away. It's going to be another platform probably coming up, competition
7:44
is going to be coming up, right? These are the thing you can leverage because you can learn for
7:49
yourself as well. How do you brand yourself as a job seeker? Plus, you would learn the different
7:54
marketing tactics that it's not going to be working anymore from 10 years before, right
8:00
So I don't see any flyers at home. I don't even look at it. It's all online. So you got to make
8:05
sure what's trending online. Absolutely. Online is the thing. So we have a layoff crisis right now
8:12
How long do you think it's going to last? I wish I know. I'm not an economist or something like
8:17
that. But I think the layoff, I truly believe that happened because the top organizations who
8:25
were making billions of dollars started to being greedy, right? It's, oh, we're moving from
8:31
different platform to online. People are just buying. We cannot keep up with it, which is great
8:36
But it was at the cost of people who actually had a hope and dream. And they wanted to work with
8:44
these biggest employer because there was a high paycheck and whatever it is, good benefit
8:50
And then they left everything just to be with them. They trusted them as a family. And this is
8:56
no longer the environment where people are going to be trusting employers as, hey, we're a family
9:00
right? So I think this is why people need to review these top employers because they do have
9:06
a skeleton, right? They can pick you from here one minute and drop you the next day in one minute as
9:12
lot, right? So you got to be always looking out for yourself. Being loyal is fine, but don't be
9:18
that loyal that you become someone that you don't know who you are after titles. Just make sure you
9:27
go and continue to upgrade your skills and then ready to go out there. Make sure you have everything
9:32
ready to go if the layoff comes in for you. And look at those water cooler talk, listen to it
9:40
and try to find out that if the layoffs are happening, what are you gonna do about it
9:46
Don't wait for them to give you that severance unless you want to. So I think the layoffs are happening
9:51
because of the fact that companies are getting away with it. CEO can just literally say, I messed up
9:58
but then you know what? He's not the one who's taking pay cut, right? I messed up
10:03
It's fully, I'm accountable for it. But then what are you gonna do about it, right
10:08
So next time when people want to work with these top employer, they're going to think twice
10:12
Do I really want to work with these companies who are laying me off over email after working there for 10 and 20 years
10:19
Right. So people have seen the back side of employer. And I truly believe that employer branding starts on how do you exit the staff
10:29
And that's your branding. So I don't think a lot of people would want to go back to the same employer
10:33
Are you saying there is only layoffs in large companies? you don't see a lot of layoffs in medium-sized companies
10:40
That's a really good question. You know what? I have no doubt there are a lot of small companies
10:45
small businesses, they are laying off people as well. But look what's happening
10:50
A lot of these top companies are in media because it's a mass layoff
10:54
There's a legality and compliance issue. They have to announce a notice. When they are laying off certain group of people
11:01
certain quotas, they have to follow that compliance guideline. So that's why we're seeing it more
11:07
But I think bigger company can get away with it because they have huge chunk of severance and people are like hey we give you this Look at what happening with the people who are on H visa in the U right
11:18
People from Canada are impacted too because they have the TN visa going in states and settling
11:23
Now they have to move back to Canada. But what about those immigrants who came in, gave up everything back home
11:29
Now they are going to be starting from scratch. They have only 60 days to move out or turn that into the status that they never wanted to be
11:37
They have to go back and be a student in F1 status, right? So this impacts so much, especially with the people of color, you know, the immigrants who moved to the different country in the hope of something
11:50
Now they have to go back and there's no coming back because immigration process is really tedious as well
11:57
How do you think layoffs impacting consumer behavior, right? Those people that are being laid off, do they think they're going to go consume more, consume less? Would you start buying new computer equipment after you've been laid off
12:13
No, but here's the thing, right? I was laid off. And you know, I had a work computer, I had a work BlackBerry. So I had no choice to go and buy it. So I think it all depends on where they are at their career as well. So the necessity thing you have to buy no matter what I want you to buy because that's how you're gonna go and get the job out there that you want, right
12:36
There are things that you must buy after layoff, but obviously when it comes to spending, the first thing they're going to look at is the bigger chunk, right
12:44
If you have a mortgage, are you going to go and call the bank and see if you can skip the payment, you can defer the payment
12:50
So if you have two cars, maybe freeze one car for insurance purpose, whatever it is, right
12:54
There are things that you could do personally to save it, but not that much because this is where the rainy day saving comes in
13:01
So you have to probably have more than three months of savings. But the job market, depending on the targeted role, isn't how old are you
13:09
Where are you? And it does matter with the POC as well, people of color as well
13:14
It's hard. There's a biases and discrimination as well. So you're not looking at three months to bounce back, right
13:20
You are probably looking at more than that. So and taking bridge jobs, survival job at the same time is not a problem
13:28
But don't get stuck with it. You got bills to pay. So I remember my husband got laid off from top 50 in US and States
13:36
And luckily we had a PR in Canada. That's where we moved in one single car, finance car, right
13:41
So it impacts the life and we had to think about it. Okay, how do we go about save it
13:46
And then we both worked in factory in the same factory. He was IT graduate in US, right
13:51
So we got to do what we got to do as a family. And I think one of the things like that happens in life as a family
13:59
This is where the family comes in together, right? So in one hand, we call employer a family
14:05
but they lay you off in one minute. This is your real family when that happens
14:09
Guess who's going to be around? Your family is going to be the first biggest support for you
14:13
Shveda, thank you very much. Is there anything else you would like to say to our consumers before we part
14:19
You know what? Thank you for having me today. And I know the market condition is not looking that great
14:25
but you know what? at the end of the day, life happens to all of us. This is not the first time that has happened to all
14:31
of us. And you've got to go and see what's best for you. If you want to pivot, probably this is
14:36
the time for you to pivot maybe and look into the career change or maybe start your own business if
14:41
you've got something because we all have some strength within ourselves and see. And sometimes
14:46
there's probably blessing in disguise happening and we don't even know and that's what happened to me
#Jobs & Education
#Jobs
#Career Resources & Planning
#Resumes & Portfolios
#Computer Education