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  • 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
  • HOSPITALITY AND RETAIL WORKERS FEEL THEY ARE LAGGING BEHIND ON TECHNICAL SKILLS

    HOSPITALITY AND RETAIL WORKERS FEEL THEY ARE LAGGING BEHIND ON TECHNICAL SKILLS

    News by Editorial Team 14 Mar 2019

    Hospitality and retail workers are worried that they may be way behind the mark in their technical skills – at least half of them are as per new research from CGS that surveyed more than 600 workers in the industry. Training and development are ranking just after salary while these workers look for a new job. The research also found out that 27% of those who were surveyed said that they felt to be on their own when it came to training. The numbers spiked to 40% when it came to the telecom industry. Instructor-led training seems to be catching up as a favored method of learning with 37% of workers saying that they found it to be the most engaging.

     

    read more at HRDIVE
  • NO MORE SNACKS AND MORE LAYOFFS AS CHINA'S INTERNET COMPANIES FACE THE BIGGEST SLOWDOWN IN YEARS

    NO MORE SNACKS AND MORE LAYOFFS AS CHINA'S INTERNET COMPANIES FACE THE BIGGEST SLOWDOWN IN YEARS

    News by Editorial Team 14 Mar 2019

    Didi Chuxing, the Chinese ride-sharing giant who once drove Uber out of the country is laying off 2,000 employees, i.e. 15% of its workforce and letting go of the free snacks and complimentary yoga classes. It is not just this former national champion who is cutting cost to survive a declining growth, but names like NetEase, the gaming company and JD.com the e-commerce giant of China are also taking a similar road. Job vacancies in China’s, once formidable internet industries had declined by 20% in the last quarter of 2018 when compared from a year earlier. Experts believe that the road ahead is more perilous as the internet industry tries to cope with China’s sputtering economy.

     

     

    read more at Forbes
  • MCDONALD'S AIMS TO CURB GENDER BIAS IN JOB POSTS WITH AUGMENTED WRITING

    MCDONALD'S AIMS TO CURB GENDER BIAS IN JOB POSTS WITH AUGMENTED WRITING

    News by Editorial Team 13 Mar 2019

    McDonald’s is aiming to create feel-good moments for all and creating an all-inclusive and welcoming approach and is relying on Textio to make its recruitment process faster, better and bias-free. Textio is an augmented writing platform that uses a “massive data set of real-world hiring outcomes from hundreds of millions of job listing.” The interface then compares the language in similar documents to allow hiring managers to use the most appropriate words to draft a job description. In McDonald’s case, the brand intends to create a hiring language that puts the brand’s image as an equal-opportunity workplace by posting gender-neutral job posts.

     

    read more at HRDIVE
  • SINGAPORE CO-WORKING SPACE ASPIRES NEW HEIGHTS OF LUXURY

    SINGAPORE CO-WORKING SPACE ASPIRES NEW HEIGHTS OF LUXURY

    News by Editorial Team 13 Mar 2019

    The Great Room, Singapore’s co-working space is a notch above the average workspace in terms of luxury. With Marble floors, brushed gold finishing and coconut water in pantry fridge it is a far cry from those utilitarian co-working space. With its collaboration with the Raffles Hotel, this luxury will get a facelift. The 1500 square feet space in the Raffles Hotel will be first of its kind co-working space in a five-star hotel. The Great Room offers dedicated office space memberships that start from $1,840 per month that is 20% higher than its competitor We Work. Co-founder and Chief Executive Officer Janelle Ang say that the co-working space targets older entrepreneurs who after a successful career are starting with their own business venture.

     

    read more at Bloomberg
  • RITE AID CUTS 400 CORPORATE JOBS IN A REVAMP THAT ALSO SHAKES THE EXECUTIVE MANAGEMENT

    RITE AID CUTS 400 CORPORATE JOBS IN A REVAMP THAT ALSO SHAKES THE EXECUTIVE MANAGEMENT

    News by Editorial Team 13 Mar 2019

    Rite Aid Corp announced that it plans to cut 400 corporate positions that will affect 20% of the employees based at it is Camp Hill, Pennsylvania headquarters. The Tuesday announcement comes along with the planned exit of John Standley, Rite Aid CEO since 2010. The company that registered a loss in three out of four quarters of 2018 after selling 1,900 stores to Walgreens Boots Alliance Inc. in 2017 plans to go for a complete reshuffle and revamp to set an annual savings of $55 million out of which $42 million will be realized within the financial year of 2020. Rite Aid also announced the exit of Chief Financial Officer Darren Karst and Chief Operating Officer Kermit Crawford indicating virtual executive management step down to leave the company in the hands of Rite Aid veterans.

     

    read more at Reuters
  • HOME DEPOT GROWING HIRING TECH IN ITS OWN BACKYARD TO HIRE 80K ASSOCIATES

    HOME DEPOT GROWING HIRING TECH IN ITS OWN BACKYARD TO HIRE 80K ASSOCIATES

    News by Editorial Team 12 Mar 2019

    Home Depot is all set to welcome its very own seasonal hiring version 2.0 with a new technology, grown in-house by its technicians. The home improvement giant intends to hire 80,000 associates during the spring season for its 2,000 stores and more than 100 distribution centers in the U.S. in both part-time and full-time jobs. The company believes that new technology will allow them to hire better and faster. This comes after last spring’s success of the tech christened Candidate Self Service that allowed supply chain applicants to schedule job interviews on their own. Home Depot claims that around 1 million candidates have used this technology since its launch. The aim of technology as per Tim Hourigan, Vice President HR is to allow candidates to control their own journey and “welcome new hires into our family faster than ever.”

     

    read more at HRDIVE
  • EX-KPMG EMPLOYEE AND EX-PCAOB EMPLOYEE CONVICTED OF EIRE FRAUD IN LEAK CASE

    EX-KPMG EMPLOYEE AND EX-PCAOB EMPLOYEE CONVICTED OF EIRE FRAUD IN LEAK CASE

    News by Editorial Team 12 Mar 2019

    A former employee at KPMG, David Middendorf and a former employee of Public Company Accounting Oversight Board (PCAOB), Jeffery Wada were found guilty of passing confidential information to the big four audit firm to pass inspection. PCAOB is a private body who inspects audits by firms like KPMG and it was between 2015-2017 that Wada, then working with the accounting industry oversight body passed on confidential information to Middendorf, the then HOD at KPMG. They were, however, acquitted on one count of conspiracy to defraud U.S. government. Nelson Boxer, a lawyer representing Middendorf said though they were happy about “one not guilty verdict” they were disappointed with the verdict that convicted both of wire fraud and conspiracy to commit wire fraud. The party intends to appeal against the verdict of a jury in federal court in Manhattan. Wada’s lawyer, Justin Weddle refused to comment.

     

    read more at Reuters
  • PARCEL CARRIERS SEE A PLUMMETED HIRING AFTER A HIGH AS 9,700 JOBS WERE SLASHED IN FEBRUARY

    PARCEL CARRIERS SEE A PLUMMETED HIRING AFTER A HIGH AS 9,700 JOBS WERE SLASHED IN FEBRUARY

    News by Editorial Team 12 Mar 2019

    Martina Gimbel, director of economic research at Indeed.com said regarding February 2019, “This was not a great month for couriers and messengers” and she is right as parcel delivery firms cut 97,000 jobs last month as hiring in the sector nose-dived. The slump is the lowest since January 2017 in a sector that has added over 53,100 jobs in the last year and includes names like United Parcel Service Inc. and FedEx. Corp. Warehouse and Trucking Companies, another significant peripheral of parcel-delivery apart from the giants Courier and messenger companies added 4,800 jobs from January to February. Ms. Gimbel also noted that the slump might not be a reason to fret in a volatile market in the wake of that payrolls have increased by 8% in a year in courier and messenger industry.

     

  • VODAFONE IN NEW ZEALAND OFFERS REDUNDANCY TO ABOUT 2000 EMPLOYEES BEFORE ITS IPO

    VODAFONE IN NEW ZEALAND OFFERS REDUNDANCY TO ABOUT 2000 EMPLOYEES BEFORE ITS IPO

    News by Editorial Team 11 Mar 2019

    Vodafone PLC’s New Zealand unit is planning to offer voluntary redundancy for its 2000 employees citing business review ahead of its stock market listing next year. The move impacted most of its 3000 employees strong unit barring the frontline call center and retail team members. Vodafone New Zealand’s CEO Jason Paris, who was recently appointed said that the company is trying to get in shape before its first IPO slated to be in 2020. The firm opened shop in 1998 in the country and currently has 2.4 million customers and 72 retail chops with 3000 employees, some of whom have already accepted the redundancy proposal as per the company spokesperson.

     

    read more at Reuters
  • BANKS EMULATE TECH WORKSPACES TO LURE YOUNG TALENT

    BANKS EMULATE TECH WORKSPACES TO LURE YOUNG TALENT

    News by Editorial Team 11 Mar 2019

    Nordea Bank’s Copenhagen headquarters replaced its gray-suits for mustard robe wearing tattooed model in an attempt to lure the twenty-somethings and thirty-somethings millennials in the workforce. The largest name in finance among the Nordic countries put the said step forward to woo young talent as banks get more online and face the talent battle against IT giants like Amazon and Google. The banking industry has evolved and as per Christian Ronn Osteraas, Danske Bank’s head of real estate, “Banks are more and more IT companies.” So, as these financial companies are competing for the same pool of talent should provide similar physical facilities and office ambiance. Nordea is pushing for a “start-up feeling” getting its inspiration from Silicon Valley and Disney to lure AI and IT talent in their system.

     

    read more at Reuters
  • WOMEN ARE MORE SELECTIVE WHEN IT COMES TO JOB APPLICATION

    WOMEN ARE MORE SELECTIVE WHEN IT COMES TO JOB APPLICATION

    News by Editorial Team 11 Mar 2019

    Women take their time and are more selective while applying to new jobs says a LinkedIn study. The study that is based on 610 million users across 200 countries also said that men are 68% more likely to ask for referral than men. Women are 14% less likely to apply for a job after viewing it and are 16% more likely to be hired than men for the job applied. This can be attributed to women applying for a job only when the qualifications are an exact match showcasing a risk-avoiding selection. For women, the job description and company is more favorable if it has the expected salary undisclosed as it guarantees a fair pay workplace for them.

     

    read more at HRDIVE
  • UNILEVER USA AND IBM AMONG THE TOP NAMES WHO PROMOTE WOMEN EXECUTIVES

    UNILEVER USA AND IBM AMONG THE TOP NAMES WHO PROMOTE WOMEN EXECUTIVES

    News by Editorial Team 08 Mar 2019

    Unilever USA, Marriott International, Johnson & Johnson, Procter & Gamble, IBM, JLL, Eli Lily & Company, and Loreal USA are among the top 10 in National Association of Female Executives 2019 Top 70 Companies for Executive Women. This year’s list had top names in pharmaceutical and hospitality topping the charts to become employers who, “prepare, promote and push women to executive levels.” Female CEOs at these companies increased by 5% bringing the number to 19% that outpaces the S&P 500. The number of board of directors increased to 32% this year from 30% in 2018. The results are promising and welcome news for a March 8, but there is a lot to achieve going forth.

     

    read more at HRDIVE
  • PAYROLL GAINS COOL, BUT WAGES RISE AFTER A ROBUST HIRING TREND LAST MONTH

    PAYROLL GAINS COOL, BUT WAGES RISE AFTER A ROBUST HIRING TREND LAST MONTH

    News by Editorial Team 08 Mar 2019

    The job engine in America might be showing signs of a cool-down, but wages are supposed to carry on their upward journey, courtesy a tight job market. The unemployment rate fell a tenth of a point to 3.9% since last month and the nonfarm payrolls continued to grow by almost 180,000 despite the fact that it slumped from last month’s 304,000. The rate of unemployment is the lowest since 1969 and the hourly wages jumped 0.3% from the last month to get a 3.3% annual gain. A robust hiring trend will likely ease off the tension that a decade old expansion was bringing in to the corporate psyche.

     

    read more at Bloomberg
  • U.S. DEPARTMENT OF LABOR ANNOUNCES A PLAN TO EXTEND OVERTIME PAY EXPANSION

    U.S. DEPARTMENT OF LABOR ANNOUNCES A PLAN TO EXTEND OVERTIME PAY EXPANSION

    News by Editorial Team 08 Mar 2019

    The verdict is out on overtime pay extension and the U.S. Department of Labor announced on Thursday its intention to extend overtime benefits to a million more worker. The number is way below than the proposed threshold of $4700 in 2016 that would have impacted 4 million workers. The current overtime threshold is below $23,660, an amount that was set in 2004. The new threshold of $35,308 comes with a promise of review every three years by the current government and after a federal judge in Texas struck out 2016, Obama government’s proposed figure saying that it would bring many management workers in the overtime pay regulation and they, as a rule, are exempted from it.

     

    read more at Reuters
  • HIRING FLEXIBILITY AND SOFT SKILLS TO RULE THE 2019 RECRUITMENT SCENE

    HIRING FLEXIBILITY AND SOFT SKILLS TO RULE THE 2019 RECRUITMENT SCENE

    News by Editorial Team 07 Mar 2019

    Flexibility in hiring is a must-have component in the recruitment recipe for 2019 says a new CareerBuilder study based on The Harris Poll surveys. Forty percent of the employers in the study wanted to fill vacancies with a full-time employee and forty-seven percent of them are looking to hire part-time employees. Though the numbers have come down from last year’s respective percentages of 44 and 51, the hiring game will see a strong run in 2019 with talent crunch still sitting as the main theme as 50% of HR managers with open positions say that they cannot find candidates who suit the job role to perfection. The study also found that soft skills will be the focus of employers while 32% of current workers are looking to change in 2019 citing poor pay and bad company culture as major reasons.

     

    read more at HRDIVE
  • COLLEGE DEGREE NOT MANDATORY AS CEOS TELL TRUMP THAT THEY ARE HIRING MORE AMERICANS WITHOUT IT

    COLLEGE DEGREE NOT MANDATORY AS CEOS TELL TRUMP THAT THEY ARE HIRING MORE AMERICANS WITHOUT IT

    News by Editorial Team 07 Mar 2019

    Chief Executive Officers who gathered at a White House Forum remarked that they were not necessarily and always looking at four-year graduation while hiring Americans in the wake of scarce applicants for an open position. The forum had leaders of major firms like Apple Inc, Lockheed Martin Corp, IBM Corp, Home Depot Inc and Siemens USA joining the 25-member board co-chaired by President Trump’s adviser and daughter Ivanka Trump and Commerce Secretary Wilbur Ross. Tim Cook, CEO Apple noted that last year the company hired nearly 50% of non-college degree holders. Lockheed Martin CEO Marillyn Hewson was also of a similar opinion as she said that out of 14,000 people the company hired half of them did not possess a college degree and 6,500 of them were in manufacturing. 

     

    read more at Reuters

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