UBS leaders, Piero Novelli, and Rob Karofsky are planning to reshuffle leadership of its investment bank in the wake of volatile results last year, Bloomberg reported. The final decision is yet to be taken. UBS is trying to boost collaboration between dealmakers and its wealth management unit. A few deals including the spinoff of contact lens maker from Novartis AG boosted returns.
A 2,300-words Google’s employee memo alleging retaliation from her manager has gone viral. In the memo, the employee accused her manager of continued retaliation against her, despite assurance from an HR. Reportedly, the employee complained about her manager’s discrimination against pregnant women. In the past few months, Google has come under fire for discrimination from its employees.
A Survey from Willis Towers Watson found that 32 percent of firms are considering to introduce student debt repayment benefit. Another survey from SHRM says in 2019, 8 percent of the U.S. employers offered a similar benefit. Student loans reached $1.6 trillion in the first quarter in 2019. Of which, more than a quarter is held by people younger than 30 years of age.
On Wednesday, in the wake of deadly shootings at two Walmart stores, nearly 40 Walmart employees walked out to protest the company’s gun policies. The protesters demand that the company stops selling guns and discontinue donations to politicians who receive funding from the National Rifle Association. Walmart sells guns at half of its stores.
33 percent of managers don’t follow up on performance checks, a survey from Appraised says. Other than making performance evaluations futile, this devalues workers’ time, the survey report further added. Appraised founder Roly Walter said, “Just taking five or ten minutes to prepare for check-in and the same amount of time afterward to note and share the action points, makes these regular meetings far more valuable, measurable and productive for all concerned”.
Ed Razek, Chief Marketing Officer of Victoria’s Secret resigned, reportedly after the company hired its first transsexual model. Last year, Razek had expressed his unwillingness to hire transsexual models because victoria’s secret show was a fantasy show. The company’s decision to hire the 22-year-old Brazilian transsexual model, Valentina Sampaio, has been criticized. The news of Razek’s resignation came from Leslie Wexner.
Communities of practice (CoPs) can allow organizations to increase the skill sets of whole employee groups remotely or in person. This can help continuously improve employees’ skills. Joe Miller, VP of learning design and strategy, says, “we don’t learn in a silo, a lot of engagement and bouncing ideas off each other is how learning happens in the workplace”.
On Tuesday, HSBC Global Asset Management announced that Nicolas Moreau will be its new chief executive. Moreau will join the company in September. The new incumbent is a former head of AXA France and Deutsche Bank’s DWS unit. Moreau will replace Sri Chandrasekharan, who will move into another senior role within HSBC. Earlier, John Flint was ousted as CEO after just 18 months.
Rosette Pambakian has sued Gregory Blatt, CEO Tinder, for sexually assaulting her. The ex-marketing vice-president of Tinder, Rosette Pambakian, claims she was fired from her job after complaining about the assault. Pambakian claims, the CEO, made a lewd overture to her at a company party and later groped and kissed her without consent. An investigation had concluded the behavior as consensual cuddling.
A recent survey from Monster says that the majority of candidates were unable to negotiate their salary. Among more than 2000 surveyed respondents, 67 percent said they were unable to negotiate for their salary and vacation time. Further, only in 41.5 percent of cases, the companies disclosed their pay packages. 15.3 percent of respondents received salary offer less than requested.
A new poll conducted by Pew Research Center revealed two-third Americans favor raising the federal minimum wage to $15 an hour. 41 percent of Americans strongly support this measure. Further, the poll revealed that most women, men, black, Hispanic and white people support raising the federal minimum wage. Eighty-six percent of Democrats and democratic-leaning independents support the cause.
Certain words in job ads and during hiring can deter qualified candidates, LinkedIn advised in its latest Language Matters report. Using the word “aggressive “in a job ad to describe a candidate discourages 44 percent of women and 33 percent of men from applying. Further, using the word “demanding” to describe a work environment discourages one in four women.
Home Improvement company, Lowe’s, will lay off thousands of assembly workers, The Wall Street Journal reported. The company plans to outsource assembly and maintenance work to third-party. This will allow the company’s store associates to spend more time on the sales floor serving customers. Workers have been notified of their elimination and will be able to reapply for openings, WSJ reports.
Violence in the U.S. fast-food places seems to have gone up. These fast-food places include full-service, sitdown, limited-service restaurants, delis, and pizza parlors. 14, 23, and 15 homicides in 2014, 2016 and 2017 were reported respectively at limited-service restaurants, while full-service restaurants witnessed 16 and 21 deaths in 2014 and 2017, the Bureau of Labor Statistics reports.
Washington State Supreme Court has ruled it illegal to refuse to hire obese applicants if otherwise, they are qualified for the job they have applied for. Weight is not listed as a protected category under Title VII of the federal Civil Rights Act and federal courts do not consider obesity a disability under the Americans with Disabilities Act (ADA). Few states, however, have taken the lead and are protecting employees against discrimination in employment.
To boost its employee appeal, International Business Machines has fired around 100,000 employees in the last few years. Several lawsuits have followed the technology giant’s decision. Its employee count has fallen by 19% since 2013 and at the end of 2018, the company employed 350,600 global workers.
A new PayScale report has indicated that sponsorships can help close the wage gap for black and Hispanic women. The report highlighted the discrimination in sponsorships and said white males inadvertently sponsor white males and, males with sponsorship from other males receive higher pay from their employers.
A cohort of 35 HR leaders from more than 20 countries completed their Fellow of Talent Management program at The Wharton School last week. Widely recognized as perhaps the most elite program in Talent Management today for senior Talent professionals and CHROs, the program is co-curated by Wharton and Talent Management Institute (TMI), the renowned Talent Management standards and credentialing body. The Fellow of Talent Management program packs in multiple stages of learning, including Wharton Online as well as residential masterclasses at The Wharton School. The alumni of the past batches on the program are HR and Talent heads from global organizations like Shell, US Bank, Gartner, PepsiCo, Google, Barclays, Accenture, Prudential Financial, The Coca Cola Company, T-Mobile, Reynolds American, Inc. and more – some of them are nominees and winners of global awards in HR.
The program that just concluded in the Steinberg Center at The Wharton School featured globally renowned business, management, and HR experts including Prof. Peter Cappelli, Prof. Harbir Singh, and Prof. Jonathan Doh. Especially invited external experts included distinguished teachers and researchers like Prof Dishan Kamdar, Vice-Chancellor, Flame University, from India; Michael Arena, Vice President – Talent and Development at Amazon Web Services and Brad Thomas, Founder and President of The HR Impact Group.
The next cohorts of the Fellow Program in Talent Management at Wharton are lined up for August 2019 and November 2019, attracting participants from 26 countries.
Grounding of the Boeing 737 Max has driven Ryanair to plan as many as 900 job cuts. Ryanair’s Michael O’Leary said in a video that the airline has an excess of 500 pilots and 400 cabin crew. The airline has also trimmed its hiring plans for future and O’Leary has revealed that they would need 600 fewer people next summer.
Burger King’s workers in Barcelona get a respite from the chain’s discriminatory policies after a recent ruling from the Catalan authorities. The fast-food giant had prohibited beards, mustaches and stubble earlier. “As a result of the inspection, it has been established that certain company practices laid out in the internal rules infringe the constitutional rights of workers, namely, the right to one’s own image and the right to equal treatment and against sexual discrimination as set out, respectively, in articles 18.1 and 14 of the Spanish constitution” the ruling said.
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