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  • HSBC to slash 35,000 jobs globally amidst profit plunge!

    HSBC to slash 35,000 jobs globally amidst profit plunge!

    News by Editorial Team 19 Feb 2020

    In a recent announcement made by the bank, it was revealed HSBC would slash about 35,000 jobs worldwide over a period of three years. According to the announcement, the job slash would be a part of a major shake-up as the bank issued a warning over the impact of the coronavirus outbreak in Asia. The announcement also threw light on the clear intentions of the bank stating HSBC said there would be ‘meaningful job cuts in the UK.’ The job cuts though would mainly affect the head office operations, the impact would be visible on global banks and market business.

     

    read more at The Guardian
  • Britain to attract high-skilled workers with points-based immigration!

    Britain to attract high-skilled workers with points-based immigration!

    News by Editorial Team 19 Feb 2020

    According to the statement by the UK government released on 18 February 2020, Britain would prioritize the access for a high-skilled workforce globally in its post-Brexit, points-based immigration system. The government revealed the plans to end the reliance on ‘cheap labor form Europe.’ The new system would assign points for specific skills, qualifications, salaries, and professions and only give visas to those who have enough points. The new system would come into force from next year 1 January 2021. In addition, the new system would treat the EU and non-EU citizens equally.

     

    read more at Reuters
  • Recruiters least bothered about misrepresentation on resume!

    Recruiters least bothered about misrepresentation on resume!

    News by Editorial Team 19 Feb 2020

    The recent survey by Checkster, dated 13 February 2020, about 78% of applicants have misrepresented themselves on their resume. The report also revealed about 66% of hiring managers were ‘willing to accept” it. The survey, to which about 400 applicants and 400 hiring managers contributed, also revealed about 60% of applicants claimed about their skills mastery. Some of the blatant claims include the number of experiences a candidate had, wrong reasons for leaving the previous job and inflated job titles.

     

    read more at HRDIVE
  • CEOs exits increased in January: Challenger

    CEOs exits increased in January: Challenger

    News by Editorial Team 18 Feb 2020

    In a recent report by Challenger, Gray & Christmas Inc., a disturbing trend came into light. The report revealed a sudden surge in CEO turnover last month. It revealed turnover jumped about 37% over the previous month and the estimated number of exits being 219. Challenger uses SEC filings, along with news reports, organization announcements to keep a track of changes at the US-based organizations that have been in the business for a minimum of two years and have 10 employees in their workforce.

     

    read more at HRDIVE
  • Recruiters, software engineers most likely to job-hop!

    Recruiters, software engineers most likely to job-hop!

    News by Editorial Team 18 Feb 2020

    According to the study by Workforce Logiq, it was found software engineers, marketers and recruiters are more likely to jump the ship as compared to other professionals. In another report published by 2020 Workforce Management Benchmark, dated 12 February 2020, professionals who topped the list of job-hopping professionals were recruiters themselves at about 115% higher than the national average, with software engineers at the second position at about 105% higher above the average. They are followed by marketing professionals at about 82% above the average. The report also featured industries with the highest and lowest volatile workforce.

     

    read more at HRDIVE
  • British Airways' senior staff step down!

    British Airways' senior staff step down!

    News by Editorial Team 17 Feb 2020

    In a recent announcement by British Airways, it was revealed the Chief Operating Officer Klaus Goersch and the Director of People Angela Williams were moving out of their respective roles in the organization. The announcement was made on 16 February 2020. It also revealed the names of the individuals who would replace the departing members. Former director of engineering Jason Mahoney would replace Goersch, who has decided to move back to North America, informed the organization. The company also shared that Stuart Kennedy would replace Williams who had plans to leave the organization.

     

    read more at Reuters
  • Managers not equipped to deal with pay communication: Study

    Managers not equipped to deal with pay communication: Study

    News by Editorial Team 17 Feb 2020

    According to a study by WorldatWork and Mercer while the organizations (about 67%) believe pay transparency plays a crucial role in retention, and only about 4% of organizations realize its extreme importance.  The report also featured only 14% of enterprises that have dealt with pay transparency at a moderate level. The report emphasized how only about 35% of companies have minimal transparency including just one percent of them had extreme transparency. In addition, the report also threw light on another disturbing trend about organizations surveyed. About 60% of them reported their managers were not equipped to deal with pay communication.

     

    read more at HRDIVE
  •  Indeed launches recruitment events!

    Indeed launches recruitment events!

    News by Editorial Team 17 Feb 2020

    Indeed, the job search portal recently announced its new offer ‘hiring events,’ – a solution, which the organization said would use automation to hasten the recruitment process and reduce the per hire cost. According to the announcement, ‘hiring events,’ would allow for pre-screening of candidates and RSVP management including various other functions. The program allows employers to create an event page with their job listings and the positions they would want to fill. The program also makes room for attendees to be interviewed or receive a job offer there and then.

     

    read more at HRDIVE
  • No Arbitration required for future sexual harassment cases: Wells Fargo

    No Arbitration required for future sexual harassment cases: Wells Fargo

    News by Editorial Team 14 Feb 2020

    As per the recent announcement by Wells Fargo on 12 February 2020, the bank with an immediate effect has put an end to mandatory arbitration for employees in connection with any future sexual harassment claims. The decision was made after the bank’s discussion with their stakeholders including Clean Yield Asset Management. In a separate statement, David Galloreese, Wells Fargo senior executive VP and head of HR, said, “This is the appropriate change to make at this time for our employees."

     

    read more at HRDIVE
  • Job switch rises since Great Recession

    Job switch rises since Great Recession

    News by Editorial Team 14 Feb 2020

    In a recent report released by Indeed Hiring Lab, dated 11 February 2020 revealed there has been a significant increase (about 4.1%) in the rate at which employees switch their jobs since the Great Recession. The report revealed before the Great Recession, the workers switched their jobs at about 2.3% and attributed it to the stronger economy. Interestingly, job-hopping is more common in industries like accommodation and food services, administrative and support services.

     

    read more at HRDIVE
  • Racial income disparities in Washington DC workers prevalent

    Racial income disparities in Washington DC workers prevalent

    News by Editorial Team 14 Feb 2020

    According to a report by Jobs and Training report from D.C. Fiscal Policy Institute, dated 28 January 2020, Black workers in Washington DC don’t have access to high-paying jobs. This has created significant racial income disparities. The report also featured a collection of research studies, which revealed the unemployment levels in the Black community have failed to recover since the Great Recession.

     

    read more at HRDIVE
  • US college faculties feel respected at work: Study!

    US college faculties feel respected at work: Study!

    News by Editorial Team 13 Feb 2020

    According to a recent survey conducted by Gallup and Inside Higher Ed, dated 10 February 2020, about 38% of college faculty members felt they were respected at work. The survey conducted on about 1,900 tenured, non-tenured, tenure track faculty members stated full-time and tenured professors would be less likely to feel respected. The report also threw light on the fact respect is directly related to discrimination and harassment cases within the campus. The survey report also identified bullying, one of the most aggressive forms of disrespect, is widespread at various workplaces including education institutions.

     

    read more at Fortune
  • Automation can't replace human touch in jobs!

    Automation can't replace human touch in jobs!

    News by Editorial Team 13 Feb 2020

    The recent survey by Ponemon Institute dated 11 February 2020, revealed about 51% of IT professionals believe automation would take over their jobs, especially the ones in the IT security jobs. But the survey also shared the insights of about 54% of professionals who felt automation would not be able to replace ‘human intuition and hands-on experience.’ The survey also shared some interesting results like about 40% of professionals believed automation lowers human errors significantly and three in four professionals felt automation was not capable of taking-up certain tasks.

     

    read more at HRDIVE
  • Home Depot kick starts its annual search of seasonal workers!

    Home Depot kick starts its annual search of seasonal workers!

    News by Editorial Team 13 Feb 2020

    As the things get heated up at the home improvement stores, Home Depot kick starts its annual search for seasonal workers to meet the rush of customers. The retail store has started its search for 80,000 full and part-time seasonal workers. Most of the part-time positions would be for the workers in the retail store’s garden area, as that’s where the sales heat up during the spring season. The organization pointed out while the positions are seasonal, these are the surest way for getting absorbed in Home Depot permanently.

     

    read more at HRDIVE
  • Google's HR Head to step down amidst cultural unrest!

    Google's HR Head to step down amidst cultural unrest!

    News by Editorial Team 12 Feb 2020

    Eileen Naughton, the head of Google HR department to step down from her role at the tech titan as the tensions between the employees and managers continue to heat up. Google, once renowned for its corporate culture has been struggling with the cultural crises. Naughton revealed she is leaving for personal reasons, however, Google maintained Naughton would be with the organization in a still-undecided new role.

     

    read more at Forbes
  • Workforce authenticity increases employees' productivity!

    Workforce authenticity increases employees' productivity!

    News by Editorial Team 12 Feb 2020

    In a recent study shared by the University of Arkansas, dated 3 February 2020, it was revealed employees tend to be more productive at work when they could be their authentic selves at the workplace. The study interviewed about 2,500 working adults and revealed some interesting facts like the workers use two types of emotion regulation – surface acting and deep acting. The report also pointed out while authenticity was a great way to build trust between co-workers, it does come with limitations and the line between what is accepted and unaccepted is blurred.

     

    read more at HRDIVE
  • US employers struggle amidst limited or no digital skilled workers!

    US employers struggle amidst limited or no digital skilled workers!

    News by Editorial Team 12 Feb 2020

    According to Amanda Bergson-Shilcock, a senior fellow at the National Skills Coalition (NSC), there are millions of US workers who have limited or no digital skills required in tech-driven organizations. She pointed out the technology-related skills gap exists right from the entry-level workers to even the managers. She also pointed out two industries that were most tech-driven and where the employees lacked key digital skills.

     

    read more at HRDIVE
  • UniCredit cuts 6000 jobs in Italy amidst union talks!

    UniCredit cuts 6000 jobs in Italy amidst union talks!

    News by Editorial Team 11 Feb 2020

    As UniCredit, Italy’s biggest bank initiates its negotiation process with unions on 10 February 2020, regarding layoffs and branch closures, it confirmed its plans to slash 6000 jobs in the country over a period of four years.  According to the news report by Reuters, the bank had revealed that there would be 5,500 jobs slashed in Italy under the new plan and about 450 branch closures in the coming years.

     

    read more at Reuters
  • Employers realize the benefits of caregiving packages

    Employers realize the benefits of caregiving packages

    News by Editorial Team 11 Feb 2020

    In a recent report released by the 2020 Large Employers' Leave Strategy and Transformation Survey, it was reported that large employers were planning to expand their paid leave benefits. The report also shared the results of 2019 wherein about 30% of the 113 employers surveyed had added new programs for paid leaves. The report also shared about 24% of employers had increased the length of leaves for their employees including 12% had expanded eligibility for leave benefits. 

     

    read more at HRDIVE
  • Boost employee retention with culture of confidence!

    Boost employee retention with culture of confidence!

    News by Editorial Team 11 Feb 2020

    According to a survey by Indeed, dated 23 January 2020, revealed creating a culture of confidence in an organization could boost employee retention and productivity. The report stated about 98% of employees believed they performed well when they felt confident. In addition, 96% of employees surveyed also revealed that they would like to stay back in an organization if they felt confident. The report concluded with a message from the Indeed writer and researcher stating employers should nurture the culture of confidence.

     

    read more at HRDIVE

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