Talent Acquisition Newswatch - Issue 1.38
TOP STORY
The recent announcements by Jürgen Klopp and Jacinda Ardern about their struggles with burnout highlight that anyone can experience burnout, regardless of their success or position. This should encourage more open conversations about burnout in the workplace. Organizations can take steps to mitigate burnout by assessing stress levels, offering support, and creating a culture that promotes work-life balance and mental health. This includes providing resources such as counselling and workshops, encouraging the use of annual leave, and implementing flexible work arrangements. Leaders have a significant role to play in creating a healthy work environment. They should prioritize their own mental health and set an example for sustainable working practices, as leaders on the edge of burnout are more likely to make mistakes and have poor judgement. Addressing burnout as an organizational issue and implementing strategies to prevent and manage it can lead to better employee well-being, increased productivity, and reduced risk for the organization.
COMPENSATION & BENEFITS
Pay and benefits for America's workers grew at the slowest pace in two and a half years in the final quarter of 2021, with compensation rising 0.9% compared to the previous quarter's 1.1% increase. This slowdown in wage growth could contribute to the cooling of inflation and may lead the Federal Reserve to consider cutting its interest rates later this year. The Federal Reserve is expected to keep its key short-term rate unchanged after its latest policy meeting but may signal that a rate cut is coming in the future. The pace of worker compensation plays a significant role in businesses' labour costs and can impact inflation and the timing of adjustments to the Federal Reserve's benchmark rate.
Chipotle is trying to attract Gen Z workers by offering mental health support services as a perk for employment. The mental health support service includes six free sessions with a mental health professional, although this may not be enough considering that mental health treatment is often a long-term process. In addition to mental health support, Chipotle is also offering financial perks such as a supplemental 4% of an employee's salary through 401(k) contributions for students who make student loan payments. The company is also providing access to a credit card and online personal finance company, aiming to attract those interested in building a credit score.
DIVERSITY, EQUITY & INCLUSION
Over 50% of Asian employees feel that their performance reviews have been negatively affected by their manager's personal biases. Asian employees face the 'bamboo ceiling,' where they are less likely to be promoted to management positions compared to other groups. To mitigate bias, organizations should have more frequent conversations, use tech tools to analyze performance review data, provide diversity training to managers, and create equitable advancement opportunities
Diversity, Equity, and Inclusion (DEI) leaders are experiencing negative impacts on their well-being.. The demanding nature of DEI work and the emotional toll it takes on individuals, is leading to burnout. To counter this, organizational support must be in place to help DEI leaders overcome burnout, such as providing resources, mentorship, and creating a culture of support and empathy. By prioritizing the well-being of DEI leaders, organizations can ensure their effectiveness in driving positive change and creating more inclusive workplaces.
HR INSIGHTS
A human-centric model that focuses on flexibility, collaboration, and empathy-based leadership is found to drive the best performance in a hybrid workplace. Companies are implementing different approaches to hybrid work, with some mandating certain days in the office each week and others allowing employees to choose when to come in. Employee engagement and relationship-building are key challenges in hybrid work, with companies implementing strategies like team days, voluntary coffee meetups, and annual events to foster connection. Performance management is shifting from focusing on hours worked to focusing on output, with companies reevaluating evaluation and compensation processes.
HR leaders are facing unprecedented uncertainty, including a potential recession, employee activism, and labour market dynamics. Navigating these challenges requires HR leaders to develop new skills and strategic savvy. HR leaders need to be the consigliere to the CEO and leadership team, providing honest and critical feedback. Embracing uncertainty and finding comfort with the unknown is crucial for HR leaders. Other strategies include scenario planning, differentiating between complex and complicated challenges, appreciating imperfection, avoiding oversimplification, prioritizing trust-building, enlisting others, and taking a step back to gain a broader perspective.
Amazon has been fined €32 million by the French data protection authority for excessively monitoring its employees at a French warehouse. The company used a system that tracked work performance and breaks through scanners given to employees. The monitoring was deemed illegal as it measured interruptions of activity too precisely, forcing employees to justify each break or interruption. Experts warn that excessive monitoring can lead to mistrust, decreased productivity, and legal and data protection issues.
The current economic pressures and uncertainty have led to many firms announcing large-scale redundancies in both the private and public sectors. The process of carrying out redundancies can have an emotional toll on HR professionals, as they often have to deliver bad news to friends and colleagues. Redundancies are described as a 'grieving process' for those who have been with an organization for a long time. Clear communication and honesty from HR about the reasons behind redundancies are important for rebuilding company culture and morale.
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LEADERSHIP & TALENT MANAGEMENT
Reverse mentoring can be effectively used to adapt to social media, technology, customer demographics, and modern ways of working. However, there are challenges in implementing reverse mentoring, particularly in convincing senior leaders that they can benefit from learning from someone they may view as less experienced. Senior leaders can gain skills, knowledge, and expertise from reverse mentoring. Additionally, providing support to the mentor may be necessary.
Virtual reality (VR) content and training is becoming a popular and effective method for teaching employees new skills and reducing costs associated with real-world training. VR training provides more interactivity and immersion than traditional 2D video trainings, making it a valuable tool for companies. While VR training may not be economically feasible for all use cases, advancements in technology and more accessible solutions are making it easier for employers to implement. The shift towards 3D and spatial computing is also contributing to the mainstream adoption of VR training, as it offers a closer approximation of in-person collaboration.
Tailoring training programs to each employee's needs leads to smoother operations across small businesses. Conducting surveys to evaluate employees' competencies and identify knowledge or skill gaps is crucial. Using a mix of training methods, such as in-person and online sessions, appeals to employees' unique learning styles. Implementing a mentorship program allows employees to learn from each other and fill knowledge gaps.
RECRUITING & RETENTION
Pay transparency is becoming increasingly common, with 62% of employers now including salary ranges in job ads, driven by new laws and a desire for transparency beyond what is legally required. Including salary ranges on job postings helps ensure legal compliance, attract talent, boost recruiter productivity, improve pay equity, and increase employee retention. However, some potential drawbacks include challenges for distributed teams with wide wage ranges, candidate expectations for the high end of the range, repelling exceptional candidates with low ranges, conflicts with current employees, and competitors using compensation intel to lure employees away. Best practices for disclosing pay in job posts include complying with local regulations, having a clear compensation strategy, training managers, sharing a target hiring range, including total compensation and employee benefits, aligning employee compensation with posted ranges, and communicating about the compensation strategy with candidates and employees.
OneTen, a nonprofit organization formed by big companies to lift 1 million Black workers into good-paying jobs, has had to modify its messaging and approach in response to changing social climate and legal challenges. The organization now emphasizes diversity, equity, and inclusion (DEI) methods in business that benefit 'Black talent and others'. OneTen has helped its members rewrite job descriptions, design apprenticeship programs, and establish a network for HR and hiring managers to share challenges and solutions. While progress has been made, OneTen is still far behind its initial goal, having elevated 108,000 Black workers without four-year college degrees into family-sustaining jobs.
LABOUR MARKET INSIGHTS
The top drivers for employee happiness are physical and emotional health and well-being, engaging in activities that spark joy, financial freedom, helping others in need, and career satisfaction and fulfillment. A comprehensive benefits strategy is needed to improve overall employee health and well-being. Providing employees with skills and tools to improve their quality of life and health can cultivate happiness, boost performance, and enhance job satisfaction and retention. Employers should implement a systemic rewards approach in their pay and benefits strategies to promote employee happiness.
Health issues, including musculoskeletal disorders, stress, anxiety, and poor mental health, are major causes of absenteeism among construction workers. The physically demanding and time-critical nature of construction work contributes to higher absence rates in the sector. Absenteeism in construction can lead to decreased efficiency, irregularities, delays, and potentially dangerous work. To tackle the issue, employers should have clear absence management policies, support employees with health issues, address underlying causes of absenteeism, and create a supportive and understanding work environment.
A survey of middle market businesses in the US found that 97% of senior execs anticipate a lack of available qualified workers to be problematic in 2024, with 66% expecting difficulty in staffing open positions. To address these challenges, businesses are planning to invest in digital transformation and automation to increase employee efficiency and productivity, as well as offering increased compensation and benefits to attract and retain talent. The shrinking labour force in 2024 will be a key challenge for businesses, leading them to invest in new technologies, upskilling, and reskilling. Job seekers are becoming more discerning about where they apply, prioritizing workplaces that reflect their values and offer flexibility.
A survey conducted by BetterUp reveals that returning to the office full-time or in a hybrid model is causing major disruptions to employees' routines, work, and overall life experience, leading to higher burnout, stress, turnover intentions, and lower trust, engagement, and productivity. The survey also highlights the challenges faced by employees with a return-to-office (RTO) transition, including the loss of flexibility, particularly in managing personal tasks, and the negative impact of the commute on well-being and daily mood. Poorly communicated and implemented RTO mandates contribute to employee resentment towards employers, resulting in less investment in relationships and decreased authenticity in the workplace. Furthermore, the financial burden of returning to the office, including transportation costs and additional child and pet care expenses, is equivalent to the average two-person household's monthly grocery bill in the U.S
QUOTE OF THE WEEK
"The way your employees feel is the way your customers will feel." – Sybil F. Stershic
Employee engagement specialist helping HR & Businesses achieve exceptional team productivity and become employer of choice
9 个月Zabe Khan it seems like burnout has never been so present as it is now. Is that because it's talked about more and therefore more people recognise it? Or perhaps it's a true trend related to our culture and current environment? What do you think?