Talent Acquisition Newswatch - Issue 1.20
TOP STORY
A survey by Resource Solutions found that two fifths (39%) of over 55s would turn down a pay rise at an unethical or non-sustainable company, and one in four (27%) would leave their job if they felt their employer was ‘greenwashing’ their environmental efforts. This counters the assumption that older workers aren't concerned about the environment. Other research found that more than seven in 10 50-69 year olds are worried about climate change, and 35% of all UK workers would consider 'climate quitting' for an ESG-friendly employer. Gen Z employees are the most environmentally conscious, with 54% saying they would leave their current position if their employer was found to be guilty of greenwashing. Companies should weave their ESG mission into job descriptions and provide access to dashboards to show progress against targets to attract and retain talent of all ages.
COMPENSATION & BENEFITS
Financial well-being and mental health are interconnected, with employees who feel secure about their finances reporting higher levels of happiness and engagement. Financial stress has negative impacts on sleep quality, self-esteem, physical health, and relationships, which in turn affect work performance and productivity. Companies are realising the importance of employees' financial well-being, with a majority feeling responsible for it and recognizing the benefits of offering financial wellness tools. To address financial stress, organisations should focus on financial literacy initiatives, access to professional financial services, leveraging digital tools, and making financial health the default
Shekhinah Bass is the head of talent strategy for Goldman Sachs’ human capital management division and the mother of five children. She has been in human capital management for almost two decades with the company. Goldman Sachs offers 20 weeks of paid parental leave, 20 days of family care leave, fertility care, infertility case management, adoption support, and breast milk shipping while on business trips. Bass discusses the importance of employer support for working parents and how it has allowed her to succeed and build her family. She also discussed the benefits that Goldman Sachs has offered her, such as lactation rooms, LifeCare, and the support of her colleagues.
A new global study predicts that by 2031, older and experienced workers will make up more than a quarter of the workforce. Employers should provide health benefits that cater to the changing needs of older workers, such as hearing loss support and menopause benefits. Flexible work schedules and inclusive policies can allow older workers to spend time with their grandchildren and take care of aging parents.
DEI
Two former IBM HR professionals have filed a lawsuit alleging age discrimination after they were part of a plan to lay off more than 50% of IBM's HR employees. The plaintiffs claim they were replaced by younger workers and AI tools, and that IBM staff frequently used discriminatory language when discussing layoffs. This case is part of a series of age discrimination claims against IBM stretching several years, and last year the EEOC concluded that the company's layoffs between 2013 and 2018 had an adverse impact on older workers. IBM CEO Arvind Krishna has announced plans to pause hiring for roles that can be replaced by AI.
A survey by Perspectus found that 50% of women aged 45+ do not have a menopause policy in the workplace, while only 10% have a definitive policy. Menopause can cause major, moderate, and slight difficulties at work, but only 37% of managers have been offered training around menopause. There is a need for more support in the workplace for menopausal women, as 75% report considering quitting their job or reducing their hours due to a lack of menopause support. Employers should consider introducing flexible work arrangements, support groups, and employee assistance programs to create a supportive and inclusive environment.
A study conducted by ResumeBuilder found that only 32% of women have negotiated their pay in the past two years, compared to 49% of men. Factors such as fear of losing the offer, intimidation, and the offer being more than they previously made are what is stopping them from negotiating. Women in higher positions are more likely to not negotiate their salary due to the fact that there are limited higher-level positions and men still occupy the majority of them. Both men and women agree that the primary reason to negotiate pay is because their current pay does not match the value they bring to the company. Julia Toothacre from ResumeBuilder encourages women to recognise their worth, identify their accomplishments and skills, and to ask for help from friends, mentors, or coaches.
HR INSIGHTS
The HR profession has undergone an evolution from a clerical role to one that is strategic and design-oriented. Along the way, there have been a number of challenges and changes, such as the war for talent, the digital revolution, and the pandemic. Systemic HR is a new approach that requires HR teams to possess a new set of capabilities. It also calls for HR teams to act as consultants and advisors. Companies that embrace Systemic HR are more likely to be best-places to work, industry leaders, and revenue growth and profit leaders.
Recent research has revealed that HR leaders are spending 4 to 9 hours every week manually entering data due to the lack of communication between their multiple employment systems. This fragmented approach leads to incorrect or outdated information in employee data at least once a week, with 50% of HR executives admitting to using text messages to rectify the issue.
A survey of 1,000 UK employees, has revealed five key findings on employee performance expectations. Among these findings were that UK employees don't know what their employers want, younger employees are struggling to understand what they should be doing at work, and it gets harder to maintain clarity in larger businesses. Additionally, the research suggests four ways leaders can set expectations more effectively, such as empowering and training managers, encouraging regular performance conversations, providing measurable metrics and goals, and adapting as they scale.
领英推荐
LEADERSHIP & TALENT MANAGEMENT
A recent survey shows that despite a high level of confidence, most leaders experience leadership doubt, which is triggered by a heavy workload, team performance issues, and industry disruption. The survey also found that many leaders don't associate with the term "imposter syndrome" and don't tend to discuss it due to fear of looking weak. This could be linked to a lack of leadership training during the pandemic. To help leaders overcome their doubt, training should focus on essential skills and practical application.
Promoting a superstar to the next level can pose challenges for managers who fear losing their talent or creating gaps in their current team. Convincing a superstar to embrace a new challenge can be tough, especially if they're comfortable or the role stretches their comfort zone. To facilitate their transition into leadership, managers should concentrate on nurturing their growth, offering guidance in management fundamentals, outlining new responsibilities, imparting people management skills, and consistently assessing their performance.
RECRUITING & RETENTION
Are you looking to save time and expand your talent pool when sourcing candidates on LinkedIn Recruiter? Then tap into the Recommended Matches feature! This tool uses AI to help you find the best candidates based on real-time hiring activity and is up to 35% more likely to result in successful InMails. Recommended Matches is a great way to make your recruitment process more efficient while still finding the best talent.
Mott MacDonald has launched an Armed Forces Pathway to provide free careers advice to ex-military personnel and their families. The programme includes assistance with CV and interview preparation. Mott MacDonald is also a signatory of the Armed Forces Covenant Gold Award, which recognises employers who demonstrate their forces-friendly credentials. The company believes that ex-military personnel bring a complementarity to their ability in solving complex client problems, and contribute to an even greater depth and professionalism when working with customers.
TALENT TRENDS
Despite inflation cooling from four-decade highs, 67% of employees surveyed say the cost of living is still outpacing their salary and wages. This has left many feeling financially stressed, with just 42% of employees saying they feel financially well, and 64% saying they are stressed. Women, in particular, are feeling the financial pressure, with 23% saying financial stress is keeping them up at night. Employers are now recognising that having workers who are financially stressed out isn't good for business and are arming workers with financial resources such as budgeting tools and advice from professionals.
A new report has found that a higher percentage of high school graduates than in prior years are turning away from pursuing a four-year college degree. The survey, conducted nationally with 500 2023 high school graduates, showed that 55% of respondents planned to opt out of a four-year degree, compared to over 48% for the years 2019-22. The report also highlights that students need more individualized guidance and exposure to diverse pathways to better understand their natural aptitudes for career choices. Recommendations to help guide student choices after graduation include using assessments that measure aptitude and interest, making collaborative planning available, and introducing and counseling students about accepted industry certifications and how to obtain them.
A recent survey found that 50 percent of job candidates accepted and then backed out of a job offer between May 2022 and May 2023. HR consultancy Gartner conducted the survey of nearly 3,500 respondents. Candidates are feeling less loyal to employers due to the increased competition for talent and the explosion of remote opportunities, and they are expecting more flexibility, better work/life balance, and higher compensation. Employers must work harder to build a lasting connection with new hires, and should have candidates meet or speak with hiring managers early in the process and continue to engage them after they have accepted an offer.
QUOTE OF THE WEEK
"DEI is? value system rather than a business case. It's about addressing policies and practices that perpetuate the impact of social categorization, power imbalance, and inequitable distribution of opportunities and resources on marginalized people. DEI should be transformational not transactional." - Arthur Chan, VP Diversity, Equity & Inclusion ? Advisor ? Behavioural Scientist
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