Latest news with #BusinessRoundtable
Mint
2 days ago
- Business
- Mint
JPMorgan Chase CEO Jamie Dimon bets on THESE skills to beat GenZ's entry-level job uncertainty
The GenZ job market is ever-changing, especially with the AI revolution but JPMorgan Chase CEO Jamie Dimon has some good news and advice for jobseekers. For freshers, the job market has been full of mixed signal. One moment, AI is being expected to wipe out most entry-level jobs, and the next moment leaders are seen complaining about talent shortage across industries. However, according to Jamie Dimon, the key to job security is not a mystery but only requires studying the right things. Speaking at Business Roundtable's CEO Workforce Forum earlier this month, JPMorgan Chase CEO Jamie Dimon revealed that there are still come areas where businesses are short on skills and require young people to fill that gap. Companies need young experts in fields like cyber, coding and programming, as well as financial and program management, the billionaire said. 'We are short on labour,' he agreed. However, Dimon added that 'We all have needs for cyber, we all have needs for coding, we all have needs for programming, we have needs for financial management and programme management, things like that.' The CEO's comments come at a time when Amazon admitted to soon cutting corporate ranks due to focussing more on AI and Anthropic CEO Dario Amodei warned that technology could eliminate half of the entry-level white collar jobs. Dimon also noted that many educational institutions are not providing enough of this specialised training so that the GenZ could become the next generation of coders or program managers. The 69-year-old billionaire had previously highlighted that classrooms should put more focus on their pupils getting jobs right after they graduate rather than in traditional education. 'If you look at kids they gotta be educated to get jobs,' he told Indianapolis-based WISH-TV last year. 'Too much focus in education has been on graduating college… It should be on jobs. I think the schools should be measured on, did the kids get out and get a good job,' Dimon added. However, the JPMorgan Chase CEO is not the only one who flagged this need for more focus on jobs. Microsoft's Satya Nadella, Airbnb's Brian Chesky, and Salesforce's Marc Benioff came together to write a letter, demanding access to computer science and AI education for all students.
Time of India
5 days ago
- Business
- Time of India
Jamie Dimon warns of a scary global labour crisis: JPMorgan CEO says 'world is short on skills, not people'
At a time when Gen Z is being warned of a so-called 'job-market bloodbath', JPMorgan Chase CEO Jamie Dimon has made one thing clear: there are still jobs—just not enough skilled people to fill them. 'There are some areas where businesses are short on skills and desperately need young people to plug that gap,' Dimon said during the Business Roundtable's CEO Workforce Forum. The real challenge, he stressed, isn't the number of graduates entering the market—but what they've actually learned. Jamie Dimon warns of a skill gap labour crisis Dimon didn't mince words. 'We are short on labour,' he said, 'but we all have needs for cyber, we all have needs for coding, we all have needs for programming, we have needs for financial management and program management, things like that.' Despite companies like Amazon cutting staff due to artificial intelligence, and warnings from tech leaders such as Anthropic CEO Dario Amodei that AI could replace half of all entry-level white-collar jobs, Dimon insists that students who gain skills in high-demand areas still have solid prospects. Live Events Education must focus on employment, not just degrees Dimon has long criticised the education system for falling short of job-market needs. 'Too much focus in education has been on graduating college… It should be on jobs,' he told WISH-TV. 'I think the schools should be measured on, did the kids get out and get a good job?' This isn't a lone voice. Over 250 CEOs—including Microsoft's Satya Nadella, Airbnb's Brian Chesky, and Salesforce's Marc Benioff—have signed an open letter to lawmakers, urging them to make computer science and AI education widely accessible in schools. Their reasoning is direct: 'A basic foundation in computer science and AI is crucial for helping every student thrive in a technology-driven world. Without it, they risk falling behind.' The widening skill gap and the urgency to close it Backing Dimon's argument is the World Economic Forum's Future of Jobs Report 2025, which found that 63% of employers identify skill gaps as a top barrier to business transformation. By 2027, nearly 60% of workers will require retraining, particularly in areas like artificial intelligence, analytics, creative thinking, and resilience. The WEF projects that by 2030, 39% of essential job skills will be outdated. More alarmingly, it estimates that 10 million jobs worldwide could remain unfilled due to a lack of qualified workers. This, Dimon argues, could slow growth not only in technology but also in healthcare, financial services, and advanced manufacturing. Bridging the gap starts in classrooms Dimon is urging employers not to sit back. 'What you're truly lacking are the necessary skills,' he said, calling on companies to partner directly with schools and universities. It's about rethinking what education should deliver—and how quickly. He added, 'We must dismantle the barriers between education and employment. It's crucial to establish a system that supports lifelong learning, adaptation, and career growth—not just initial job placement.' The idea is simple: students should graduate ready for the demands of real-world jobs—not just holding a certificate. A payoff for skills: The data speaks Dimon's push is not without evidence. A University of Maryland study found that students who take a high school computer science class earn, on average, 8% more in their first job. While AI tools like ChatGPT have made it easier to generate code or content, Dimon believes that basic tech skills still matter—and will continue to matter. 'If you look at kids,' he said, 'they gotta be educated to get jobs.' It's not just what you know, it's who you are But technical expertise isn't the only thing on Dimon's radar. Gen Z workers, he noted, must also develop professionalism, communication, and reliability. These are often the deciding factors in hiring—and keeping—a job. At JPMorgan, character still counts. 'It almost doesn't matter to tell you the truth because you're looking for smart, ethical, decent people,' Dimon told The Wall Street Journal. His view is shared across corporate America. The message is blunt: a degree alone won't cut it—but the right mix of skills and values will. For Gen Z, the job market may seem full of contradictions. Automation is replacing roles, yet employers are scrambling to hire. Dimon believes the disconnect can be resolved with action—not alarm. Students who choose to study cybersecurity, coding, project management, or financial literacy can still build lasting careers. But the time to act, he warns, is now. Because by 2030, if the skills gap remains, millions of vacancies will stay open—and young professionals may find themselves shut out, not because of who they are, but because of what they weren't taught.
Arab News
6 days ago
- Business
- Arab News
Corporates have changed their tune on ‘stakeholder capitalism'
In 2019, the Business Roundtable, an association of the most powerful CEOs in the US, won widespread praise by announcing its commitment to 'stakeholder capitalism,' which delivers value not only to shareholders, but also to other affected actors, such as employees and communities. Now, however, the Business Roundtable has changed its tune: its April report, 'The Need for Bold Proxy Process Reforms,' reads almost like a manifesto against stakeholder capitalism. The reason for this volte-face is obvious. The Roundtable's 2019 'commitment' was a clear attempt to get on the right side of popular sentiment: Engagement with social and environmental issues was up, and so were demands that powerful institutions get on board. But the political mood has changed. At a time when Americans are preoccupied with intensifying pressures on their own pocketbooks, the new second administration is actively rejecting environmental and social issues. For many CEOs, this looks like a golden opportunity. So, the Business Roundtable is calling on the US Congress to 'enact legislation precluding the inclusion of shareholder proposals relating to environmental, social and political issues in a company's proxy statement.' With this, CEOs want to scrap one of the few formal mechanisms through which a diverse range of stakeholders can influence corporate behavior on issues such as climate risk, inequality, worker safety, and political transparency. There is plenty of precedent for this. While the Business Roundtable's CEOs like to pay lip service to voluntary corporate-responsibility initiatives, they have strenuously objected to public policies that would require them to follow through. The fact is that delivering real value to workers and the environment would cost money, which would reduce shareholder dividends and executive pay — the real priorities of the Business Roundtable's members. In fact, the compensation of CEOs who signed the stakeholder-capitalism 'commitment' has continued to reflect their success in delivering shareholder value. The only way to rein in corporate power is to confront it head-on. Christopher Marquis As many critics warned from the start, the Business Roundtable never meant what it said in 2019. Whatever its claims about environmental or social responsibility, it has always been motivated by three interconnected objectives: avoiding accountability, maximizing short-term profits, and enriching executives. To be sure, even from a commercial perspective, this approach is fundamentally flawed. A growing body of research shows that failure to account for social and environmental imperatives poses clear, material risks to firm operations and performance — not at some point in the distant future, but now. But there is no reason to expect the Business Roundtable's CEOs, or corporations more broadly, to change voluntarily. On the contrary, their April statement lays bare the transactional, opportunistic, and utterly dishonest nature of their moral posturing, which in reality, serves just one purpose: to get consumers and regulators off their backs. This should serve as a wake-up call to lawmakers, who have long cozied up to billionaires and large corporations, placing their hopes, against all evidence, in self-regulation. The only way to rein in corporate power is to confront it head-on. That means mandating corporate commitments to structural change, imposing tougher punishments for corporate abuses, cracking down on dark money, strengthening antitrust enforcement, and expanding regulatory oversight, including of corporate influence over climate, labor, and economic policy. • Christopher Marquis is Professor of Management at the University of Cambridge and the author of "The Profiteers: How Business Privatizes Profits and Socializes Costs" (PublicAffairs, 2024). ©Project Syndicate.
Mint
6 days ago
- Business
- Mint
Bottleneck is skills: JPMorgan CEO Jamie Dimon says employers need youngsters with expertise in THESE fields
JPMorgan Chase Chief Executive Officer Jamie Dimon recently said there are some areas where businesses are short on skills and need young people to plug that gap, reported Fortune. 'We are short on labour,' Dimon said, adding: 'We all have needs for cyber, we all have needs for coding, we all have needs for programming, we have needs for financial management and program management, things like that.' The 69-year-old billionaire made the comments at Business Roundtable's CEO Workforce Forum last week. Dimon further said that several schools are falling short in providing the specialised training to students to become the next generation of coders or program managers. Last year, the JPMorgan Chase CEO had told Indianapolis-based WISH-TV: 'If you look at kids, they gotta be educated to get jobs.' 'Too much focus in education has been on graduating college… It should be on jobs. I think the schools should be measured on, did the kids get out and get a good job?' As big companies such as Amazon had said they will soon lay off employees from their corporate ranks, thanks to artificial intelligence (AI), studying those subjects could give the next generation of workers an edge. Dimon, also a board member of the New York Jobs CEO Council, argued that the bottleneck is skills, not head count, and urged schools to embed industry credentials in their curriculum so graduates can 'get out and get a good job.' Meanwhile, Anthropic CEO Dario Amodei warned, according to a Fortune report, that the technology could eliminate half of all entry-level, white-collar jobs. Job-search platform Indeed's CEO Chris Hyams had recently warned that "for about two-thirds of all jobs, 50 per cent or more of those skills are things that today's generative AI can do reasonably well, or very well." Demis Hassabis, CEO of Google's DeepMind, said while AI is displacing certain jobs, it will also create new ones, reported Benzinga.
Yahoo
7 days ago
- Business
- Yahoo
Gen Z is facing a job market bloodbath—but JPMorgan CEO Jamie Dimon says employers are still chasing students who studied these fields
Despite worries about an entry-level job bloodbath, billionaire JPMorgan Chase CEO Jamie Dimon says businesses are still clamoring for young talent with skills in cybersecurity, coding, and project management. For Gen Z, the job market is full of mixed signals. One moment, they're hearing entry-level jobs are a dying breed. The next, CEOs are complaining about a talent shortage. But according to JPMorgan Chase CEO Jamie Dimon, the path to job security isn't a mystery—it just requires studying the right things. That's because there are some areas where businesses are short on skills and desperately need young people to plug that gap, Dimon revealed at Business Roundtable's CEO Workforce Forum last week. Businesses have a need for experts in areas like cyber, coding, and programming along with financial and project management, the 69-year-old billionaire said. 'We are short on labor,' he agreed, but, he added: 'We all have needs for cyber, we all have needs for coding, we all have needs for programming, we have needs for financial management and program management, things like that.' Studying those subjects could give the next generation of workers an edge, amid companies like Amazon admitting they will soon cut their corporate ranks thanks to AI and Anthropic CEO Dario Amodei warning that the technology could wipe out half of all entry-level, white collar jobs But Dimon said that many schools are falling short in providing this specialized training to become the next generation of coders or program managers. It's why he has previously stressed that schools should be measured on whether their pupils actually land work after leaving. 'If you look at kids they gotta be educated to get jobs,' Dimon told Indianapolis-based WISH-TV last year. 'Too much focus in education has been on graduating college… It should be on jobs. I think the schools should be measured on, did the kids get out and get a good job?' Fortune reached out to Dimon for comment. It may come as a surprise that Dimon is still bullish on the need for students to learn how to code. After all, ChatGPT and other generative AI technologies have made it easier than ever to build a website or develop new software with just 'vibes.' However, Dimon is not alone in his belief that having foundational tech knowledge is still a lucrative career path. In fact, over 250 chief executives—the likes of Microsoft's Satya Nadella, Airbnb's Brian Chesky, and Salesforce's Marc Benioff—came together early this year to sign a letter demanding all students have access to computer science and AI education. 'A basic foundation in computer science and AI is crucial for helping every student thrive in a technology-driven world. Without it, they risk falling behind,' wrote the letter sent to lawmakers. The push came on the heels of research from the University of Maryland that found that high school students who take a computer science class will have 8% greater earnings on average by the time they've secured their first job. Gen Z hasn't always entered the workforce on the best of terms—with some new-to-the-workforce struggling with professionalism, organization, and communication. It perhaps explains why Dimon has emphasized that new hires need more than just technical expertise in finance or coding if they want to land a job in today's market (and keep it). In fact, when hiring at his $750 billion-plus firm, Dimon insists that a college major doesn't matter as much as a job candidate's character. 'It almost doesn't matter to tell you the truth because you're looking for smart, ethical, decent people,' Dimon told the Wall Street Journal. This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
