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Why young men are suffering “boreout” at work

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Recent trends in the workplace have introduced a new phenomenon called “boreout,” alongside “quiet quitters” and “loud laborers.”

Boreout describes a situation where employees feel bored, unengaged, and unfulfilled in their jobs, resulting in detrimental effects on both workers and corporate America as a whole.

Peggy Klaus, a communications and leadership expert at Klaus and Associates in Santa Fe, New Mexico, defines boreout as chronic boredom, leading to employee stress, reduced creativity and productivity, increased physical and mental health issues, high staff turnover, and early retirements. It’s a contagious “virus” that can quickly permeate an entire workplace, negatively affecting productivity and a company’s bottom line.

Male employees

This trend is particularly affecting male employees in the 18 to 35 age group, who feel less emotionally connected and loyal to their companies due to an array of job opportunities in today’s market. Gallup estimates that low engagement is costing the global economy nearly $9 trillion.

To combat boreout, managers should prioritize open and transparent communication with employees. By addressing concerns, offering additional responsibilities, creating new reporting structures, and setting new career development goals, managers can re-energize employees and boost their job satisfaction.

For employees experiencing boreout, making an inventory of enjoyable aspects of their jobs, requesting additional assignments and training, setting new challenges, and reconnecting with colleagues can help. Seeking advice from mentors or the human resources department is crucial if boreout starts affecting physical or mental health.

Ultimately, regular check-ins, effective communication, and a supportive atmosphere can help companies keep employees engaged and prevent the spread of boreout in the workplace.

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ASEAN emerging as new global economic power?

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As global supply chains adapt to the pandemic and heightened US-China tensions, attention shifts to ASEAN’s emerging economies.

Could Vietnam and Indonesia lead ASEAN into becoming a third economic powerhouse alongside China and India? Professor Tim Harcourt of UTS and The Airport Economist on Ticker weighs in.

While debates on ‘deglobalisation’ persist, the question arises: is production truly shifting or merely realigning? Geopolitical uncertainties prompt businesses to diversify their supply chains away from China, a move influenced by both politics and economics. Taiwan, Vietnam, and Indonesia emerge as preferred destinations due to their strategic advantages and growing economies.

Australia’s recent Australian ASEAN Summit highlights the potential gains from closer ASEAN ties, given its vast population of over 640 million. What collaborative opportunities lie ahead?

Professor Harcourt’s upcoming Airport Economist ASEAN series on Ticker promises deeper insights into ASEAN’s economic landscape, revealing its potential as a significant global player.

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Investors assess geopolitical risks amidst tensions

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Amidst a backdrop of geopolitical easing, investors are reassessing their risk strategies to navigate a more tranquil global landscape.

This shift coincides with markets recalibrating expectations around potential rate cuts, resulting in a downturn in stocks.

In the tech sector, all eyes are on US earnings reports this week, particularly those of industry giants whose performance often sets the tone for market sentiment.

Additionally, anticipation mounts ahead of the release of Australian CPI data, scheduled for Wednesday, which promises insights into economic health and potential monetary policy implications.

These developments underscore the need for investors to remain vigilant and adaptable in response to evolving geopolitical and economic dynamics.

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Building the financial foundations for every decade

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Navigating financial milestones: strategies for success in your 20s, 30s, and beyond

Your 20s mark the beginning of your financial journey, and building sustainable cash flow habits is paramount. Start by tackling high-interest debts like credit cards and Afterpay systematically. Allocate at least 10% of your income to savings and automate it into high-interest investments. Be intentional with your budget, understanding how each expense serves you.

As you transition into your 30s, family and homeownership become significant commitments. Approach these decisions thoughtfully, considering affordability and lifestyle implications. Develop a strategy to pay off your home loan swiftly, regularly reviewing your interest rate and payment options.

In your 40s, focus shifts to superannuation, maximising concessional contributions for tax efficiency. Ensure your investments are managed by reputable professionals with the right asset allocation. Invest in properties with strong cash flow and growth potential to secure your financial future.

Each stage of life presents unique financial opportunities and challenges.

By following these guidelines, you can lay a solid foundation for wealth creation and security throughout your lifetime.

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