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  • GOLDMAN SACHS DROPS THE TIE AND SUIT TO WEAR A MORE CASUAL OUTFIT

    GOLDMAN SACHS DROPS THE TIE AND SUIT TO WEAR A MORE CASUAL OUTFIT

    News by Editorial Team 06 Mar 2019

    Goldman Sachs Inc. will shed its business suits and formal shoes to wear more casual attire. The Wall Street firm on Tuesday declared a “firm-wide flexible dress code” in its internal memo stating the changing nature of the workplace and its tilt towards a more casual attire behind the move. The memo intended for the bank’s 36,000 employees was penned by Chief Executive Officer David Solomon, a former investment banker. As the tradition dictated till now, the Goldman Sachs was a strictly white-shoe investment bank that required business suit as a requirement. The move succeeds the 2017 decision to implement a more casual dress code for its technology and other digital business avenues.

     

    read more at Reuters
  • L&D INITIATIVES CAN ENABLE EMPLOYEES TO FIGHT PERSONAL AND PROFESSIONAL DATA THREATS

    L&D INITIATIVES CAN ENABLE EMPLOYEES TO FIGHT PERSONAL AND PROFESSIONAL DATA THREATS

    News by Editorial Team 06 Mar 2019

    In the absence of a comprehensive employment data privacy law, the threat looms large on corporate data. Human error and more precisely human negligence can be attributed to most of the data breaches. Supporting the statement is the Shred-it report that says more than half of the leaders believe that employee negligence leads to most of the breaches. Assimilation of official and company data in personal devices like smartphones leave data vulnerable to hackers. PII training and adhering to the three O’s - onboarding, ongoing and off-boarding in the learning and development initiatives can thwart the threats in the womb.

     

    read more at HRDIVE
  • APPOINTED A CDO? IT MAY NOT BE ENOUGH FOR A TRULY DIVERSE WORKPLACE

    APPOINTED A CDO? IT MAY NOT BE ENOUGH FOR A TRULY DIVERSE WORKPLACE

    News by Editorial Team 06 Mar 2019

    Appointing a Chief Diversity Officer may not be enough to catapult a company’s diversity initiatives and a recent survey by Russell Reynolds Associate, a management consulting firm supports the statement. The study found out that nearly half, i.e. 47% of the surveyed companies has a Chief Diversity Officer, but a good number of them, i.e. 63% were appointed or promoted to their roles within three years. A short time to expect significant changes especially when resources pooled in for diversity is scant. About 97 CDOs interviewed in the report said that the resources and support from their organizations did not meet expectations and also the CDO initiatives were ill-aligned with organizational goals.

     

    read more at HRDIVE
  • ANNUAL MEETING PREPARATIONS IN DISNEY, BOB IGER'S FUTURE PAY SLASHED BY MILLIONS

    ANNUAL MEETING PREPARATIONS IN DISNEY, BOB IGER'S FUTURE PAY SLASHED BY MILLIONS

    News by Editorial Team 05 Mar 2019

    Bob Iger, Chief Executive Officer, Walt Disney Co. will see his future potential earnings decrease ahead of Disney’s annual meeting and amidst criticism over excessive pay packages for its executive ranks. Walt Disney disclosed that Iger’s pay will be reduced by 28% bringing it to $35 million after the company completes a deal to acquire assets from 21st Century Fox. The change will leave $100 million equity awarded to Iger as a part of his 2017 contract extension with Walt Disney that makes him the CEO till 2021 as the company prepares with its succession planning. The major concern for Disney is to keep a balance between creating a sustainable pay package for Iger to keep him on-board and succession planning.

     

    read more at Bloomberg
  • WORKING MOMS OF AMAZON DEMAND BACK-UP DAYCARE FROM CEO JEFF BEZOS

    WORKING MOMS OF AMAZON DEMAND BACK-UP DAYCARE FROM CEO JEFF BEZOS

    News by Editorial Team 05 Mar 2019

    Working moms at Amazon going by the name of Momazonians reached out to Chief Executive Officer Jeff Bezos with a campaign to include a backup daycare service. Momazonians is an 1800 women group who are slated to meet the senior managers of Amazon in the coming weeks to discussion day care facilities that the company has shied away for so long in spite of many IT companies providing the same for years. The argument in favor of a backup daycare is not humanitarian, but organizational as it curbs down the instances of unplanned leaves, turnover, and attrition in caregivers and especially mothers.

     

    read more at Bloomberg
  • GIG ECONOMY MIGHT BE SHRINKING, SAYS A NEW STUDY COLLABORATING BLS' LAST YEAR CLAIM

    GIG ECONOMY MIGHT BE SHRINKING, SAYS A NEW STUDY COLLABORATING BLS' LAST YEAR CLAIM

    News by Editorial Team 05 Mar 2019

    Gig economy might be shrinking as the latest report by the Center for Economy and Policy Research backs the earlier findings by the U.S. Bureau of Statistics that came a year back. The new data collaborates the fact that contingent workers are opting for standard jobs more in 2017 than in 2005. As per EPI, the number of workers in the gig economy has decreased from 10.9% in 2005 to 10.1% in 2017 in a steady trend. The recent data, as many fear might derail the efforts towards refreshing labor laws in the wake of the gig economy and for contingent workers.

     

    read more at HRDIVE
  • LEADERS PREDICT DISRUPTION IS COMING AND MOST OF THEM AREN'T READY FOR IT

    LEADERS PREDICT DISRUPTION IS COMING AND MOST OF THEM AREN'T READY FOR IT

    News by Editorial Team 04 Mar 2019

    Organizational disruptions will almost be the norm in the coming three years as per 65% of U.S. executives in Mercer’s 2019 Global Talent Trends Study. The number saw a rise from 2018’s 35% indicating that executives around the U.S. expect “significant disruptions” a part of the corporate curriculum. However, just 37% of the 7,300 HR leaders believe that their company is future ready for these disruptions indicating human capital risks will be set in priority. The study noted that companies are deploying technology to overcome disruptions and building a brand that resonates with candidates and employees alike. The anticipation has replaced preparation for the future of work, but chances of change burnout remain in the backdrop.

     

    read more at HRDIVE
  • DOL PROPOSES THE NEW FLSA OVERTIME THRESHOLD TO BE $35K

    DOL PROPOSES THE NEW FLSA OVERTIME THRESHOLD TO BE $35K

    News by Editorial Team 04 Mar 2019

    The U.S. Department of Labor will propose a salary threshold of $35,000, a raise from the previous $23,660 for overtime pay requirements. The rule pertains to the Fair Labor Standards Act that sets a threshold below which, workers are entitled to time and a half overtime pay for hours worked beyond 40 hours a week. The rise in the threshold will be lower than the proposed $47,476 threshold by the Obama administration. The change pending since 2016, will see the day of light by March 2019, wherein a formal Notice of Proposed Rulemaking is expected to appear. The new threshold will leave half of the workers who were supposed to be benefited from the threshold set by the Obama administration.

     

    read more at HRDIVE
  • WEWORK PLANS TO GO ON A HIRING BINGE, SLASHES 300 JOBS

    WEWORK PLANS TO GO ON A HIRING BINGE, SLASHES 300 JOBS

    News by Editorial Team 04 Mar 2019

    WeWork bid about 300 of its employees in what it claims to be a performance-based culling before the upcoming hiring spree. The New York-based company that was founded in 2010 has at present 10,000 staff and is planning to add 6000 more and the current slash comprises 3% of its staff. The company’s fortune dipped in 2016 when it fired 7% of its staff and curbed some of the financial forecasts for the year. The co-working giant found an ally and dedicated investor in SoftBank, a Japanese conglomerate in 2017 and has since then raised $10 billion in investment.

     

    read more at Bloomberg
  • ROBOTS REACH A NEW RECORD HIGH IN 2018 IN U.S. INDUSTRIES

    ROBOTS REACH A NEW RECORD HIGH IN 2018 IN U.S. INDUSTRIES

    News by Editorial Team 01 Mar 2019

    U.S. companies are getting more robot friendly than they were last year thanks for cheaper machines and parts. The use of robots comes in a tight job market with stricter immigration laws that see the use of robots as one of the ways for industries to stay competitive and have a grip on labor cost. Shipments with robots and related parts hit 28,478 that is 16 percent more than its 2017 count and this time the user goes beyond the traditional automobile industry. Shipments have increased overall for food and consumer goods, semiconductor and electronic plants except for the automobile sector as the manufacturers are gearing up for a cutback.

     

    read more at Reuters
  • DIANRONG, A BIG NAME IN CHINESE ONLINE LENDING PLANS TO SHRINK, THE MOVE WILL COST 2000 JOBS

    DIANRONG, A BIG NAME IN CHINESE ONLINE LENDING PLANS TO SHRINK, THE MOVE WILL COST 2000 JOBS

    News by Editorial Team 01 Mar 2019

    The Chinese peer-to-peer lender, Dianrong is the latest in the league of companies who are cutting cost to comply with authorities’ efforts to shrink the industry by cutting down 2000 jobs. The company backed by Tiger Global Management and Standard Chartered Plc. Is closing 60 of its 90 brick and mortar stores that were set up for borrower’s identity verification in addition to letting people go. The shrinking of operations indicates that even the biggest names in China’s online industry could not escape the government crackdown on financial risk. The peer-to-peer sector that was once the biggest in the shadow banking industry has shrunk to $114 billion and will downsize more as a ripple effect of financial woes that affected thousands of individuals as many platforms failed.

     

    read more at Bloomberg
  • H-2B VISA TO OPT FOR RANDOM SELECTION FOR APPLICATION PROCESSING

    H-2B VISA TO OPT FOR RANDOM SELECTION FOR APPLICATION PROCESSING

    News by Editorial Team 01 Mar 2019

    The U.S. Department of Labor (DOL) is all but done with its first come first serve for processing applications and will opt for a “randomly established” order of managing and selecting applications for processing. The decision follows a January fiasco where the processing system crashed after, as DOL states a high volume of H-2B petitions were filled in the span of a single day. Employers who intend to hire temporary non-immigrant foreign nationals by Oct 1 will need to send an application to Office of Foreign Labor Certification (OFLC) regarding temporary labor certification within a three-day window that starts from July 3.

     

    read more at HRDIVE
  • AGE DISCRIMINATION REARS ITS UGLY HEAD IN IKEA AS THE COMPANY FACES 5TH LAWSUIT IN A YEAR

    AGE DISCRIMINATION REARS ITS UGLY HEAD IN IKEA AS THE COMPANY FACES 5TH LAWSUIT IN A YEAR

    News by Editorial Team 28 Feb 2019

    IKEA is under the age discrimination radar yet again with a fifth lawsuit coming on its way in a span of a year. IKEA employee Brandon Paine filed a class action lawsuit stating that the retail giant is practicing “corporate culture of age bias” and is constantly in violation of the Age Discrimination in Employment Act or ADEA. The 48-year-old IKEA employee, Paine alleged that he was denied promotion for the post he held on an interim basis earlier and four younger employees in their late 20’s were given the dole. Paine was demoted and was denied promotions despite good reports and the lawsuit alleges age discrimination as the reason behind it.

     

    read more at HRDIVE
  • NIKE FORMER WOMEN EMPLOYEES HAVE THEIR FIRST WIN AS THEY CLEAR A CRUCIAL LAWSUIT HURDLE

    NIKE FORMER WOMEN EMPLOYEES HAVE THEIR FIRST WIN AS THEY CLEAR A CRUCIAL LAWSUIT HURDLE

    News by Editorial Team 28 Feb 2019

    Four former women employees of Nike Inc. have won the crucial hurdle of attaining a class-action status for their lawsuit against the company alleging systematic pay discrimination. The sports apparel giant, on the other hand, lost its first attempt to scale back a class action lawsuit on account of prematurely blocking and deciding employee’s eligibility to file a lawsuit as per a federal magistrate. Nike, as the former employees allege rely on salary history for the initial pay, marginalize performance to stunt career growth and ignore the complaints of sexual harassment. Nike is trying to better its image when it comes to paying parity and increased the salary of 7,400 workers worldwide after a pay structure and parity review.

     

    read more at Bloomberg
  • TEACHERS HIT THE STRIKE ROAD AGAIN AS LOW WAGES AND POOR WORK CONDITION PREVAILS

    TEACHERS HIT THE STRIKE ROAD AGAIN AS LOW WAGES AND POOR WORK CONDITION PREVAILS

    News by Editorial Team 28 Feb 2019

    Teacher strike is back again with its version 2.0 and oversized classroom, low pay, old textbooks, lack of support staff, underfunding and a high teacher turnover rates are some of the major areas of discontent among the teaching fraternity. 2018 saw a surge in US labor movement and following a similar route 2019 has so far seen strikes in Los Angeles, Oakland, Denver, Virginia, and West Virginia. The results of this strike have swung in favor of teachers in terms of better work conditions and pay. The union-led strike comes despite the 2018 Supreme Court ruling in the Janus case that stated that non-union members in the public sector are not obliged to pay union fees. However, it seems like the teachers’ union has dodged the bullet in this case and are conduction successful strikes.

     

    read more at The Guardian
  • JOB APPLICANTS FURIOUS OVER IBM'S RACIALLY INSENSITIVE APPLICATION FORM

    JOB APPLICANTS FURIOUS OVER IBM'S RACIALLY INSENSITIVE APPLICATION FORM

    News by Editorial Team 27 Feb 2019

    Alex Gao, a computer science student in New York University was disturbed and offended to see archaic and insensitive labels in IBM online application form. Gao, who took to Twitter to post a photo of the application that had a drop-down list for candidates to select their ethnicity said he was forced to choose among ethnic categories that included terms like “yellow” and “mulatto”. International Business Machines Corp has since then removed the controversial question from the application and its spokesman Ed Barbini apologized stating the company’s recruiting websites solicited the information regarding the ethnicity “temporarily and inappropriately.” 

     

    read more at Bloomberg
  • DELOITTE JOINS HANDS WITH ELLA PROJECT TO CREATE STEM CAREER AND SKILL AWARENESS IN GIRLS

    DELOITTE JOINS HANDS WITH ELLA PROJECT TO CREATE STEM CAREER AND SKILL AWARENESS IN GIRLS

    News by Editorial Team 27 Feb 2019

    Deloitte is all animated about inspiring gender diversity and breaking stereotypes and for the task has collaborated with Ella Project to develop a new graphic novel, featuring Ella the Engineer as the protagonist. Nishita Henry, CIO Deloitte says the collaboration will produce one graphic novel and four comic books with the aim to put Ella as a role model for girls who are keen to take up STEM as their field of study. The storyline will highlight Ella solving problems through her problem solving, collaboration and technology while taking help from Deloitte leaders. The aim is to incorporate real-life female role models in STEM in the edutainment venture.

     

    read more at HRDIVE
  • WEAK COMPANY CULTURE AND BOREDOM CORRODES EMPLOYEE LOYALTY

    WEAK COMPANY CULTURE AND BOREDOM CORRODES EMPLOYEE LOYALTY

    News by Editorial Team 27 Feb 2019

    Employee loyalty is at its lowest and the blame is on poor company culture. The 2019 Employee Engagement Report: The End of Employee Loyalty, a TINYpulse report found that about 43% of employees will leave their current organization for a salary hike as low as 10%, the survey, when done in 2015 revealed just 23% feeling the same. The factors like poor company culture, manager-employee relationship dynamics, engaging work, and the first impressions play a crucial part in deciding an employee’s propensity to leave. The survey also found that employees when given engaging or appropriately challenging work were keener to stay than the ones who considered their work boring. 

     

    read more at HRDIVE
  • AMAZON.COM NAMES INDRA NOOYI, FORMER PEPSI CO. CEO AS ONE OF THE BOARD MEMBERS

    AMAZON.COM NAMES INDRA NOOYI, FORMER PEPSI CO. CEO AS ONE OF THE BOARD MEMBERS

    News by Editorial Team 26 Feb 2019

    Indra Nooyi, former President and CEO of Pepsi Co. is the newest name in the Amazon.com Inc. board. The e-commerce giant named Nooyi, who stepped down as Pepsi Co. CEO last October to its board, making her the second woman to be appointed by Amazon in the span of a month. Nooyi’s appointment makes the 11-member board include five women, welcome news given the company recently faced criticism over male dominance in its board. Rosalind G. Brewer, a former Walmart Inc. executive was another name who was included earlier this month to the Amazon board. Indra Nooyi, joined the world’s second largest beverage company in 1994 to rise up to CEO, a position she would stay in for the next seventeen years.

     

    read more at Bloomberg
  • SUPREME COURT REMANDS 9TH U.S. CIRCUIT COURT RULING ON SALARY HISTORY

    SUPREME COURT REMANDS 9TH U.S. CIRCUIT COURT RULING ON SALARY HISTORY

    News by Editorial Team 26 Feb 2019

    The United States of America Supreme Court recently remanded and vacated a 9th U.S. Circuit Court of Appeals ruling that said that salary history cannot be the single determining factor of gender pay parity. The Circuit Court erred in the voting as they counted Judge Stephen Reinhardt’s vote, who dies eleven days before the ruling. The counter-argument to this point was the circuit court had presented a footnote that said that Judge Reinhardt had fully participated in the hearings and had expressed his opinion amounting to the final vote that happened before his death. The Supreme Court chose to differ on the grounds of “federal judges are appointed for life, not for eternity.”

     

    read more at HRDIVE

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