Employers can address the economic inequality of their workforce by accommodating and encouraging a more remote workforce. “Job growth in places like the U.S is often driven by a small number of cities, creating big incentives for workers to move there. That, in turn, ratchets up the cost of living, exacerbating inequality in those hot spots” says Kevin Sneader, McKinsey managing partner.
Whirlpool Cooperation remains positive about the self-growth and its workers, amid huge digital skill gaps. The company with its unique ‘zero-based policy’ has found the perfect balance of tech and process to keep its workforce steps ahead of digitization. The Whirlpool Corporation fosters people-centric culture, says Deboleena Bose, vice president of human resources. The company is evolving with industrial technology changes.
American graduates accumulate around $35,359 in student debt says Experian. The increasing costs of student loans create high emotional and financial stress that negatively impacts employees' professional and personal life. About 80% of workers are stressed about finances and 78% live paycheck to paycheck, Forbes reports. To curb this and improve employee financial flexibility and wellness, Ceridian announced Dayforce Wallet.
A rule that allows healthcare workers to receive funds to refuse to perform healthcare services including abortion, sterilization and assisted suicide is overturned by a federal judge. Paul A. Engelmayer, the Judge, concludes HHS lacked rulemaking authority. The rule was set to take effect on Nov.22. The rule’s promulgation was “arbitrary and capricious”, the court said.
43% of new mothers drop out of the workforce after having a baby, says Kate Ryder, CEO of Maven Clinic. Lack of support and easy access to health services and inflexible corporate cultures, are a few reasons for fewer number of new mothers returning back to work, Fortune reports. The number of employers offering paid parental leaves has risen from 25% to 45 % from 2015 till now.
A press release by Payscale says it is critical that HR is able to accurately price workers’ skills. This demands HRs to take an individual’s skills and geography into account when setting pay. An understanding of the value of skills can help others too. Managers can be more transparent about professional growth and opportunities when talking with employees. Payscale offers a tool to price skills, the press release said.
Enterprises worldwide are supporting gender transparency. Salesforce, for instance, releases gender data. A U.K law mandates firms to disclose men’s and women’s pay. Recently, Microsoft added a new management dimension to its diversity report. Oracle, reportedly, is resisting shareholders’ pressure to disclose gender pay data. Allegedly, the company has been underpaying women and people of color. Pax World Funds require Oracle to furnish gender pay data.
Huawei announced bonuses for its employees that totaled more than $285 million as a thank you for their efforts. The Chinese tech giant with the help of its workers was able to cope up with the US sanctions that threatened its smartphone and other businesses. The company also announced an additional one month’s salary for its workers.
Microsoft revealed its Gender Diversity Gap Report for 2019 at a granular level segregating its racial and diversity data by levels of management and individual contributors. The company revealed that women make up for about 27.6% of the workforce, with about 19.3% holding the executive positions.
According to a survey of 400 business owners, more than half of them revealed that they struggle to discuss the 401(k) plan with their employees. About 68% of the owners realized that it is their responsibility to encourage employees’ participation in the plan.
Workers at McDonald’s in Michigan have sued the fast-food chain for allowing sexual harassment to flourish at its restaurants nationwide. Workers accused the chain of lacking policies to address sexual harassment, failing to train managers to prevent harassment and retaliating against workers who complain. Last week, CEO Steve Easterbrook was asked to leave due to his consensual relationship with an employee.
Employers are prioritizing soft skills in hiring and training. They are increasingly focused on improving abilities such as leadership and behavioral skills. These skills include curiosity, responsibility and positive thinking, says Keca Ward, senior director of talent experience at Phenom People. These skills are important as technical skills are becoming outdated faster than employees can upskill themselves.
Occupational Safety and Health Administration (OSHA) had to send inspectors 90 times at Tesla’s Giga Factory in Nevada. While other factories in the same area had to call the inspector only once. USA Today reports workers were routinely injured, at least three times a month. In some cases – including amputations, injuries are not even reported by the company.
After fighting the bureaucratic rule to wear heels to the office, Japanese female workers are fighting the right to wear eyeglasses to work. Some employers demand women workers to mandatorily wear contact lenses at work and not eyeglasses, as glasses don’t appeal to customers. Earlier, Yumi Ishikawa started the #KuToo hashtag to protest the heels rule.
Middle managers seem to pay no importance to diversity and inclusion. However, CEOs are motivated to do so. Reportedly, middle managers shrug off implicit bias training, diverse hiring guidelines, and inclusive management practices. Employers are convincing middle managers to pay heed to diversity and inclusion. If middle managers build teams that look identical to themselves, they will slow their careers.
Do happy employees lead to a successful business or is it the other way round? Employee engagement and financial performance have been linked. However, there’s a difference between correlation and causation. Therefore, this becomes a proverbial chicken and egg problem. If engagement is a consequence of business success, it would have implications for companies’ employee engagement. So should companies focus on improving financials?
A new survey by cloud-based software provider Maven Link says work-life balance defines successful culture for cross-generation employees. Work-life balance was followed by team building activities, continuous and collaborative environment. For workers between 35 and 40 of age, continuous learning is important, while for 18-to-24-year old workers team-building matters.
Around 81 percent of workers are worried about being replaced by artificial intelligence, Blumberg Capital’s research found out. Most workers fear their job will be taken away by algorithms and robots. Due to this fear, people aren’t learning much. Workers need to stay focused and learn new tech skills, fortune reports. PwC spent over USD 3 billion to train its 2,76,000 employees.
Not executing benefits enrollment properly may cause trouble for employers. Judith Well, an employee benefits employer with Mc Dermott Will & Emery in Chicago, suggests employees should take a printout of the enrollment confirmation page after filling details. Further, employees should check their first paystub. Pay attention to rewards and wellness programs so as to avoid mistakes, Wendell suggests.
Gap Inc.’s CEO Art Peck will leave the company amid company-wide restructuring. The apparel retailer slashed its full-year earning, plummeting its shares to 7%. Peck was instrumental in developing the company’s “omnichannel strategy channel” strategy. The company is facing competition from fast-fashion rivals like Zara and H&M. Gap reported a 4% drop in its third-quarter sales and a decline across all its brands.
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