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  • BREXIT CONFUSION HITS UK COMPANIES' HIRING PLANS

    BREXIT CONFUSION HITS UK COMPANIES' HIRING PLANS

    News by Editorial Team 27 Mar 2019

    A survey by Recruitment and Employment Confederation found firms downbeat and wanting clarity regarding Brexit. REC has been conducting the survey since 2016 and the conundrum of Brexit – when or if it will happen, has led employers to curb down their hiring and investment plans. It has been three years since Brexit referendum came out, but the way ahead after it is obscure as it was in the beginning days. Employers are feeling the strain of Brexit, even when the labor market is strong. The employers as per the survey are planning to add permanent staff, while the ax looms large on the temporary staff. 

     

    read more at Reuters
  • RETIREMENT READINESS SHOULD TOP THE CHART OF PRIORITIES FOR TALENT PROFESSIONALS

    RETIREMENT READINESS SHOULD TOP THE CHART OF PRIORITIES FOR TALENT PROFESSIONALS

    News by Editorial Team 26 Mar 2019

    A survey by the National Institute on Retirement Security found out that nearly 60% of workers have zero retirement asset and the ones with a retirement account have only $40,000 saved. Companies need to be open about the retirement talk without implying an intention of replacing the employee at the onset of the discussion. The retirement talk as Erik Fromm, Financial Advisor at Janney Montgomery Scott said should start 5 to 15 years before the intended retirement to enable employees to build a sustainable retirement asset plan. From further said, “Early 50s is where we really start to engage with people” and set out a plan during the robust earning years of professionals when the thought of not having a full-time income source is a decade far, but yet obscure.

     

    read more at HRDIVE
  • AGEISM MAY BE DOING COMPANIES MORE DAMAGE THAN EXPECTED

    AGEISM MAY BE DOING COMPANIES MORE DAMAGE THAN EXPECTED

    News by Editorial Team 26 Mar 2019

    “Facial discrimination” is climbing up the stairs and maybe soon at par with racial discrimination when it comes to prevalent social ills. Even when Age Discrimination Employment Act of 1967 prohibits discrimination against people older than 40, a recent report by AARP indicated that about two-thirds of professionals between 45 to 74 years have faced ageism at some or the other juncture in their careers. When it comes to tech firms Silicon Valley’s top 150 names faced increased accusations of ageism that toppled over the instances of gender and racial bias. The solution does not lie in proactive law enforcement, which is present, but in building a company culture against ageism. It will, in turn, benefit their younger counterparts – the millennials, in getting a perennial wisdom inflow along with their skills.

     

    read more at Market Watch
  • DOL MEMO MAY COMPLICATE HIRING FOR EMPLOYERS WHO DEPLOY H-1B WORKERS

    DOL MEMO MAY COMPLICATE HIRING FOR EMPLOYERS WHO DEPLOY H-1B WORKERS

    News by Editorial Team 26 Mar 2019

    The latest Department of Labor Memo is slated to bring more complications for the employers who deploy H-1B visa employees. The new memo though not a regulation mandates employers to put a notice to employees about employing H-1B workers. The notice, electronically distributed or circulated internally otherwise should contain details like the location of the Labor Condition Application that employers must file for inspection by the Department of Labor and the wage details. The memo is targeted specifically to the Information Technology service industry and requires employers to put a notice to the collective bargaining representative or in the worksite in case of a not-unionized entity. Failure to comply can bar the company responsible for the slip from hiring foreign nationals (H-1B workers) for at least a year.

     

    read more at Forbes
  • PEPSI CO. APPOINTS A WOMAN AS ITS LATIN AMERICAN CEO

    PEPSI CO. APPOINTS A WOMAN AS ITS LATIN AMERICAN CEO

    News by Editorial Team 25 Mar 2019

    PepsiCo. CEO Ramon Laguarta sent an internal email on the occasion of International Women’s Day announcing Paula Santilli’s appointment as CEO LatAm. Santilli, who joined PepsiCo as a part of its Quaker Acquisition has been in in a number of leadership positions in the region since 1992. Santilli who is slated to succeed Laxmi Narashiman, who is moving to be the global chief commercial officer of PepsiCo was previously president of PepsiCo. Mexico Foods, one of her numerous leadership roles in the Latin American region. This is the second woman in the recent weeks whom PepsiCo named to the top in their endeavor to get more women leaders on board. Michelle Gass, CEO Kohl was named on the board two weeks prior to the announcement.

     

    read more at HRDIVE
  • EMPLOYERS NEED TO SHOW OLD HABITS THE DOOR TO REACH ORGANIZATIONAL EFFECTIVENESS

    EMPLOYERS NEED TO SHOW OLD HABITS THE DOOR TO REACH ORGANIZATIONAL EFFECTIVENESS

    News by Editorial Team 25 Mar 2019

    Old work habits, especially the toxic ones must go to improve the overall health of the workplace. A recent report by Myers-Briggs Company says that old habits entrenched in the workplace might be holding back the business. One of the major habits that need to see the door is the “always on” culture that as the study points out leads to disproportionate work-life balance, stress, poor performance, and ill-health among employees. Employers also need to let go of the narcissistic leaders and replace them with leaders who inspire and motivate. Employers need to upskill leaders in interpersonal skills and as a second step train leaders about effective leadership approaches. 

     

    read more at HRDIVE
  • HYBRID JOBS ARE HERE AND THEY INTEND TO STAY

    HYBRID JOBS ARE HERE AND THEY INTEND TO STAY

    News by Editorial Team 25 Mar 2019

    Hybrid Jobs are the latest to hit the town and they are here to stay as per a long-tailed study by Burning Glass Study. The people who manage multiple skills like, marketing with statistics or IT with creativity have a piece of two-pronged good news. The first is the unique combination makes them a rare occurrence and thereby eligible for premium pay package. The second advantage is that these unique skills make their job automation resistant. Case in point is the marketing managers with data analysis skills who earned 40% more than the ones who did not.  In another instance 2010 saw just 150 job postings for people who were experts in applying statistics to business problem concentrated in Wall Street. A contrasting scenario is that of 2017, with 1.7 million job postings for data science in every conceivable industry. Burning Glass first started tracking the hybrid jobs in 2015 and are now slated to grow by 21% in the coming decade as opposed to the overall job market expected to grow by 10% in the same time.

     

    read more at Fortune
  • RAKUTEN OF JAPAN RAISES THE BAR AGAIN!

    RAKUTEN OF JAPAN RAISES THE BAR AGAIN!

    News by Editorial Team 20 Mar 2019

    Japanese billionaire Hiroshi Mikitani of Rakuten, the country’s leading e-commerce portal, is taking collective organizational learning and development to a new dimension yet again. Mikitani recently announced that it would require all of its 17,000 employees to learn computer science beyond mere usage, followed by a mandatory knowledge of programming for all entry-level hires. Rakuten faces increasing competition from the likes of Amazon who are trying to gain a foothold in the lucrative world of Japanese e-commerce. Experts on the subject opined that this could be a step in the right direction for Rakuten, where employees could play a crucial role in understanding technology and effective decision making beyond mere technology buzzwords.

     

    read more at Bloomberg
  • FUTURE OF JOBS: NOT JUST TECH

    FUTURE OF JOBS: NOT JUST TECH

    News by Editorial Team 20 Mar 2019

    Global Body on Higher Education the Business Higher Education Forum, in collaboration with The Burning Glass, recently released its report based on the analysis of 150 million job postings and CVs across the US for more than a decade. According to the report, the entry-level and managerial jobs of the future will be heavily based on the 3 skill pillars of sound technical knowledge, strong human and interpersonal skills and deeply founded business acumen. It is important to note that the report transcends jobs in the technology industry and applies equally to all sectors. Employers have cited these as the top 3 requirements in their new job postings across the country.

     

    read more at HRDIVE
  • BE SOCIALLY CONSCIOUS – FOR YOUR NEXT JOB

    BE SOCIALLY CONSCIOUS – FOR YOUR NEXT JOB

    News by Editorial Team 20 Mar 2019

    HR experts have warned jobseekers of the severe impact that any kind of notoriety on social media can have on their career prospects since the advent of Facebook and LinkedIn. A new report by First Advantage has reinforced the importance of the advice. The employer survey points out that 60% of employers presently screen a prospective employee’s social media profile comprehensively for any incidences of drug use, violence or any kind of unlawful activity. The report also notes that this practice has surged by more than half within the past two years. As screening and background checks become increasingly more comprehensive, talent managers are looking to reduce their hiring turnaround times and are increasingly turning to third-party agencies to handle these checks.

     

    read more at HRDIVE
  • GS RAMPS UP WORKFORCE DIVERSITY INITIATIVES – THIS TIME WITH TARGETS

    GS RAMPS UP WORKFORCE DIVERSITY INITIATIVES – THIS TIME WITH TARGETS

    News by Editorial Team 19 Mar 2019

    One of the largest investment banking conglomerates in the world is throwing the gauntlet on workforce diversity issues, an example that is expected to be widely replicated in the very constrictive world of corporate finance. Goldman Sachs recently announced its target of entry-level hires comprising exclusively staff of black and Hispanic origin at 11% and 14% for the current year, respectively. This initiative is also expected to be stretched worldwide, as the investment banking giant also announced 9% of its entry-level workforce to be black, in the UK. In a recent memo, the company announced it was “nearly there” in reaching its diversity hiring targets that were announced a year ago.

     

    read more at Reuters
  • WARNER BROS CHAIRMAN-CEO QUITS TO SAVE FACE AFTER ALLEGED AFFAIR

    WARNER BROS CHAIRMAN-CEO QUITS TO SAVE FACE AFTER ALLEGED AFFAIR

    News by Editorial Team 19 Mar 2019

    It’s the story Hollywood flicks are made of, and one that was ironically first reported by Hollywood Reporter. Warner Bros Chairman and CEO, Kevin Tsujihara, recently announced his resignation from the top job after reports of his alleged affair with Charlotte Kirk, whom he had promised career opportunities, namely, roles in the studio’s movies in exchange for sexual favors. Tsujihara, who has held the job at the media giant since 2013, sent out a memo announcing his resignation, stating that he would not let unnecessary media hype turn the limelight away from the stellar achievements that the company had had under his leadership. The company is investigating his behavior with full cooperation from his end, it was reported.

     

    read more at The Guardian
  • DISABILITY AND ABSENCE TOP LIST OF EMPLOYER HURDLES, REPORT STATES

    DISABILITY AND ABSENCE TOP LIST OF EMPLOYER HURDLES, REPORT STATES

    News by Editorial Team 19 Mar 2019

    Employee disability management and absenteeism management were the two biggest hurdles organizations were currently facing, in a survey reported by The Standard recently. From among 501 organizations surveyed, more than half earned low C, D or F grading in their disability readiness and absenteeism management. This is further reflected in the fact that among the organizations surveyed, only 25% of the HR personnel conceded that they had disability friendly facilities and had absenteeism well under control. This, even as more and more companies are choosing to outsource their FMLA management to third parties. HR personnel attributed the problems largely to the “constantly changing disability laws and guidelines”.

     

    read more at HRDIVE
  • COMPANIES CHOOSING AI AS COLLABORATOR AS TALENT SHORTAGE LOOMS LARGE

    COMPANIES CHOOSING AI AS COLLABORATOR AS TALENT SHORTAGE LOOMS LARGE

    News by Editorial Team 18 Mar 2019

    The estimated global talent shortage will be 85.2 million people by 2030 and that will result in $8.4 trillion worth of unrealized annual revenue as per a 2018 study by Korn Ferry, an executive search brand. Microsoft owned LinkedIn just like many others in the economy are looking at AI to get a solution to this dilemma. The social network targeted towards professionals has an AI-based strategic business platform that uses 610 million users’ data to judge talent competition in a particular area. Companies like EY, Citizens Bank NA and IBM are looking at AI as one of the biggest recruitment tools as a Gartner study indicates increasing use of AI in talent acquisition with 23% of responding companies in U.S. and Canada saying that the use of AI in their company is for recruitment.

     

  • FOUND THE RIGHT TALENT YET? THE HUNT FOR TALENT IS AMONG THE BIGGEST CEO PAIN POINTS OF 2019

    FOUND THE RIGHT TALENT YET? THE HUNT FOR TALENT IS AMONG THE BIGGEST CEO PAIN POINTS OF 2019

    News by Editorial Team 18 Mar 2019

    CEOs are troubled and “people problem” is the most significant part of their sleepless nights. A recent report by Predictive Index surveyed 156 head of companies to create, what they call Annual CEO Benchmarking Report 2019. Strategy development and talent development as per the report came up as the top ranking challenges of this year. Nearly 70% of the leaders opined that they need help in talent-related strategies like pre-hire selection, worker performance, and leader development. A good two-thirds of them opined that nearly half of their costs came from employee-related expenses. Finding the right talent, aligning employees with talent strategy, maintaining a positive work environment while getting the maximum performance by workers was in the top of their talent optimization challenges.

     

    read more at HRDIVE
  • AN INVESTOR BACKED PG&E IS ALL BUT SET TO START FRESH

    AN INVESTOR BACKED PG&E IS ALL BUT SET TO START FRESH

    News by Editorial Team 18 Mar 2019

    PG&E Corp, the power utility that filed for bankruptcy protection this January, anticipating overwhelming liabilities after many wildfires, especially the massive 2018 Camp Fire that blazed 85 lives is all set to revamp with a new executive board. The triad of activist investor firms – Knighthead Capital Management LLC, Abrams Capital Management LP, and Redwood Capital Management LLC are backing the utility’s move to appoint a fresh board. P&GE is on the heels of selecting a brand new CEO alongside offering 10 new independent board candidates, the names of whom are expected to be revealed the next week. Bill Johnson, CEO of Tennessee Valley Authority who is all set to retire from his current post this April is the frontrunner for the office of CEO at PG&E.

     

    read more at Reuters
  • TIGHT U.S. JOB MARKET DRIVES SHAKE SHACK INC. TO TRY OUT A FOUR-DAY WORK WEEK

    TIGHT U.S. JOB MARKET DRIVES SHAKE SHACK INC. TO TRY OUT A FOUR-DAY WORK WEEK

    News by Editorial Team 15 Mar 2019

    Shake Shack Inc., the place of a gourmet burger and “concrete” milkshakes are the latest to take an innovative voyage amidst a tight job market and is experimenting on a four day work week. Average hourly earnings at limited-service restaurants saw a spike of 4.5% in the New Year through January, outpacing the growth of all other industries. Shake Shack’s experiment, if successful will be a novelty in the restaurant. The restaurant chain is currently trying the four-day work schedule in some of its Las Vegas units. At the same conference where Shake Shack Inc. made the four-working-day-experiment announcement, Steve Joyce, CEO of Dine Brands Global Inc. remarked that “Labor costs are a flashpoint. The labor market is going to be tough this year. It will probably be tough next year.”

     

    read more at Bloomberg
  • CHECKLIST FOR HR BEFORE THE NEW OVERTIME THRESHOLD SWINGS TO ACTION

    CHECKLIST FOR HR BEFORE THE NEW OVERTIME THRESHOLD SWINGS TO ACTION

    News by Editorial Team 15 Mar 2019

    The update is almost complete on the 15-year-old U.S. Department of Labor minimum salary threshold for overtime as it is pending to get published on Federal Register after which it will be subject to a 60-day public comment period. Employers can meanwhile set the stage to tackle if not welcome the revised threshold of $35,308 a year or about $679 per week, which is lesser than the proposed $47, 476 of Obama Administration. The three major pointers in employers’ checklist will be - auditing wage standards with both the Fair Labor Standards Act and its duties test, calculating the cost of raise versus the cost of overtime and employee morale and submitting yours say in public comment section. 

     

    read more at HRDIVE
  • FACEBOOK CHIEF PRODUCT OFFICER TO EXIT AFTER A DECADE-LONG ASSOCIATION

    FACEBOOK CHIEF PRODUCT OFFICER TO EXIT AFTER A DECADE-LONG ASSOCIATION

    News by Editorial Team 15 Mar 2019

    Chris Cox, Chief Product Officer Facebook, most prolific of product leaders in the company after Mark Zuckerberg, CEO is all set to leave after a decade long association. Cox’s announcement makes him the first among the highest ranks of the social-media giant to leave after last year’s crisis. His moving out is attributed to the big shift in the company’s focus from public sharing to close integration of apps and use more encryption to cull the privacy concerns. Cox was a significant influence not just in transforming Facebook into a personalized information platform, but also designing the company culture. The shares fell by almost 2% in extended trading after his announcement. The company opines that the next era of product development is here and it will be starkly different from the previous era and the integration of apps will be led by Javier Olivan who earlier worked for Cox and is the one behind the growth across the company’s apps.

     

    read more at Bloomberg
  • VOLKSWAGEN'S CORE BRAND VW PLANS TO CUT 7,000 JOBS TO FOCUS ON TECHNOLOGY

    VOLKSWAGEN'S CORE BRAND VW PLANS TO CUT 7,000 JOBS TO FOCUS ON TECHNOLOGY

    News by Editorial Team 14 Mar 2019

    Riding the industry-wide wave technologically driven cars that includes electronic and self-driven variants Volkswagen AG’s namesake brand announced that it will slash up to 7,000 administrative jobs over the next five years. The cut comes on top of the “Pact for the Future”, a 2016 plan in which VW was set to cut 23,000 jobs that are about 19% of VW workforce via early retirement and natural fluctuation. VW is the core brand of Volkswagen AG and its targeted operating profit fell from 4.2% to 3.8%, partly due to its investment in technology. The company plans to raise this margin by 6% by 2020 and prepare for the challenges ahead of them after 2020. The company just like many in the industry is struggling to transition from horsepower to digital-power as Silicon-Valley giants like Google, Amazon and Tesla and ride-hailing Uber bring forth technical disruptions.

     

    read more at MarketWatch

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