A study released by MIT Sloan Management Review and Boston Consulting Group’s BCG GAMMA and BCG Henderson Institute says companies that report value gain from adopting artificial intelligence recognize that investment in talent is required. The demand for talent in AI skills has risen steadily in the past few years. Between January and September 2018, job openings increased by 63%, according to CompTIA.
Chief Executive Officer Andy Cecere, U.S Bancorp, in a memo said, the company had “made the difficult decision to eliminate their jobs because customer behaviors have changed”, Bloomberg reported. The job cuts will amount to less than 2% of the company’s workforce. The job cuts, however, won’t lead the bank’s 3,700 branches to close.
Chipotle Mexican Grill employees can now pursue business and tech degrees for free, under the company’s education benefit program. Debt-free degree benefits will give workers a chance to gain the skills and knowledge needed for next-gen jobs, the company said. Chipotle pays 100% of the tuition for 75 types of business and tech degrees.
Wells Fargo discriminated against more than 2,300 candidates for online customer service representatives and phone bankers positions in three U.S. cities, Bloomberg reports. The U.S Department of Labor found the bank discriminated against them and the company now must pay about $600, 000 in back wages, benefits and interest to individuals. The bank agrees to revise its selection process and train hiring managers.
Robin Daniels, Chief Marketing Officer, WeWork is leaving this week, Bloomberg reports. Daniels is the fifth executive to step down in the last few weeks. Adman Neuman and wife Rebekkah Neuman, CEO and Chief Brand Officer respectively, stepped down after the company failed at IPO last month. The company will soon run out of money, as early as next month, reports suggest.
Dennis Muilenburg, Chief Executive Officer of Boeing, announced he was fully supportive of the board’s decision to split his chairman and CEO roles. The move comes after Boeing, the world’s large plane maker, was criticized for the development of the 737 MAX. The company wants to focus on strengthening Boeing’s governance and safety management processes, Reuters suggests.
Los Angeles courts force nearly 1,00,000 people to do weeks and months of community service, new research from the University of California says. Court-mandated community service accounts for nearly 8m hours of unpaid work over a year, which is equivalent to 4,900 paid jobs. These workers face sexual harassment, abuse, injuries or other forms of mistreatment, but have few options, the research said.
A new report from iHire says job hopping is no longer seen as a red flag in recruiting. The survey conducted by iHire among more than 1000 job seekers found they had voluntarily left their jobs in the last five years. 75 percent of respondents said they planned to not stay for more than 5 years and 31 percent planned to stay for less than one year.
WeWork may layoff 2,000 workers this week, the Guardian said. Reportedly, new projects are put on hold and workers are preparing for the freeze. WeWork was forced to pull out its IPO. “The atmosphere is toxic. A lot of people worked so hard for this company. We thought we were in on something really big”, a worker said.
A new poll from Kimble Applications says employees want more responsibilities at work. However, managers seem to hold them back. 83 percent of employees polled in the survey said they want their managers to seek their opinion more often. Workers want to contribute, make an impact and have their voices heard”, Kimble Applications said in a statement.
Microsoft’s Chief People Officer, Kathleen Hogan, says “we’re always trying to close the gap between our aspired culture and the daily experience of our employees. You can’t freeze culture in a declaration.” The reaction of leaders in tough moments shapes the culture of learning and failure.
Female workers at a Bangladeshi factory from which Lululemon sources clothing claim they are beaten, the Guardian reported. Lululemon said it has a strict code of practice and doesn’t tolerate any violence of this sort. Interestingly, the brand had launched a partnership with the United Nations to reduce stress levels and promote the mental health of aid workers, the Guardian says.
90 percent of workers are bullied at work, a new poll from Monster says. About 51 percent of respondents are bullied by superiors. Nearly 40 percent are bullied by fellow coworkers, and about 4 percent are bullied by clients, customers, and people other than coworkers, the report found out. Bosses who bully damage the mental well-being of their coworkers, the report said.
HR professionals with continuous performance management (CPM) programs are more satisfied with their performance management process, new research from Betterworks says. The research was conducted among 500 professionals in the U.S. and 250 in the UK. Two-third of respondents reported an increase in productivity and motivation among employees, and 85 percent of respondents said CPM boosted employee performance.
A Pew Research Center survey says half of working parents (50%) feel that parenting makes work difficult for them. The same number of parents said they couldn’t give their 100% on the job. A little more than half of the mothers (54 %) said parenting made it hard for them to advance in their careers, HR Dive reports.
Mental Health Condition is a common reason for workplace discrimination, Kantar’s Inclusion Index analysis says. The analysis was conducted on the responses collected from 18,000 workers in 14 countries. Over one-third of employees with a mental disorder reported experiencing discrimination based on their condition. The survey discovered 38 percent of employees experience mental health issues.
Ahead of takeover by Boeing Co, Embraer, Brazilian planemaker, will furlough 15,000 workers in January, the company said. The deal between two companies is yet to be approved by the regulatory authorities. The company says salaries will be paid on its regular routine during furlough between Jan. 6 and Jan. 20. The deal is unlikely to be approved before 2020, Reuters suggests.
The US today has more jobs than job seekers. Employers are struggling to connect with the talent they need and job seekers are struggling to find opportunities that rightly fit their skills. HR Dive reports, job descriptions provided by employers are not uniform, so search results are hit or miss for job seekers searching for jobs. The result is – qualified applicants are weeded out.
Ireland’s central bank says no-deal Brexit would cost Ireland more than 73,000 jobs. Ireland’s unemployment rate will rise to 5.8 percent in 2020 and 6.9 percent in 2021 if the U.K tumbles out of the European Union without agreement. The economy will be affected through shocks to exchange rate, consumption, and investment if the two countries don’t reach an agreement, the bank further said.
Starbucks has expanded its family Expansion Reimbursement program by including fertility benefits. The new benefits will be effective from Oct.1. In addition to adoption expenses, the program now includes surrogacy and intrauterine insemination reimbursement if they are not covered by insurance. The new employee benefit covers up to USD10,000 per qualifying event and up to a lifetime maximum of USD30,000.
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