Talent Acquisition Newswatch - Issue 1.58
TOP STORY
'Power Moves' are important in order to shape a fulfilling career on one's own terms. These strategic actions are designed to foster both personal and professional development. Key highlights include the necessity of prioritizing mental, emotional, and physical health as a fundamental Power Move. Moreover, managing inner criticism and negative self-talk to prevent self-sabotage. Other important aspects include emphasizing the value of understanding one's wants, needs, and strengths. Engaging in a listening tour to gather insights and dispelling the myth of a 'Dream Job' are recommended for redefining success. Other essential Power Moves include setting goals with values-based intentions, committing to continuous learning, gaining influence through advocacy and expertise, and embracing progress over perfection by celebrating small wins and reflecting on career growth.
COMPENSATION & BENEFITS
A report by Koru Kids revealed that many parents in the UK are facing challenges in balancing work and childcare due to a lack of wraparound care for their children, hindering their career growth and potential. The study showed that a significant portion of parents, especially those with children with special educational needs, feel they could work more hours if they had access to more after-school care. Difficulties in accessing wraparound care have led to parents working from home while caring for their children, using holiday days or taking unpaid leave to cover childcare needs, impacting their career advancement and pay. Experts emphasize the importance of flexible working arrangements and a complete overhaul of the childcare funding system to better support working parents and ensure equal opportunities for career progression.
A survey by the Society for Human Resource Management (SHRM) revealed that 88% of respondents consider health benefits very important, with 82% offering preferred provider organization plans and 63% offering high-deductible health plans. Employers are increasingly addressing menopausal health concerns, with 17% providing support such as counselling and education, although only 2% offer specific leave for menopause. The survey also highlighted the importance of flexible work arrangements, with 70% of respondents considering it very or extremely important, despite a slight decline in the percentage of employers offering subsidies for at-home work equipment. SHRM emphasized the need for employers to meet the diverse needs of their workforce by providing health care benefits, flexible work options, and considering emerging benefits related to menopause.
DIVERSITY, EQUITY & INCLUSION
Diverse representation within managerial ranks is lacking despite companies claiming to support diversity, highlighting disparities in current practices. Diversity training, although widely used, is not effective in promoting diverse representation in managerial roles. Formal mentoring programs and targeted recruitment are identified as effective methods for increasing diversity in management but are not utilized enough in organizations. The relationship between the frequency of management practices and their effectiveness in achieving diverse representation is shown to be negative and strong, emphasizing the need for organizations to shift towards more impactful practices.
New research by academics from LSE and the University of Essex in the UK reveals that hiring bias against older workers is resistant to subtle nudging, emphasizing the need for more direct efforts to address systemic discrimination. The study conducted across five experiments with UK participants showed that younger candidates were twice as likely to be hired as older candidates with the same experience, but bias against older workers was eliminated when companies explicitly valued older workers and diversity. Efforts to increase age diversity through explicit diversity statements were successful in increasing the value of older candidates, highlighting the importance of direct communication in combating bias. The findings indicate the necessity for companies to adopt diverse approaches in their recruitment processes to achieve greater age diversity and emphasize the importance of being explicit about diversity goals to combat bias against older job candidates.
More than 40 million adults worldwide, including 3% of U.S. adults, have bipolar disorder, with many not achieving their full potential at work despite displaying higher levels of creativity, empathy, and resilience. Organizations can support employees with bipolar disorder by modifying job features, training managers to provide appropriate support, and fostering a culture of performance and compassion. Addressing suboptimal aspects of job design, managerial practice, and organizational culture can amplify the effectiveness of bipolar employees in the workplace. By implementing these three measures, organizations can help bring out the best in employees with bipolar disorder and create a more inclusive and supportive work environment.
HR INSIGHTS
Only 36% of HR professionals in the UK feel adequately equipped to balance their organization's people function needs, compared to 47% globally, according to a survey by Culture Amp. HR practitioners in the UK are also struggling to maintain work-life balance, with only 41% able to effectively switch off from work, whereas the global figure is 48%. HR professionals are facing immense pressure, managing various critical functions alongside employee well-being, absorbing burnout effects from staff, and dealing with challenges like talent retention, hybrid working, and a fast-changing economy. Despite feeling ill-equipped, a high percentage of UK HR practitioners feel supported by their colleagues, believe they are making a positive impact, and have shown increased resilience levels, indicating positive steps taken by organizations to support HR professionals.
A report by AimHi Earth revealed that 77% of employees are dissatisfied with their employers' inaction on climate change. The study also found that 93% of workers lack confidence in applying their company's sustainability strategy to their daily jobs. Experts emphasize the importance of embedding sustainability into every role within organizations and the need for clear communication to engage employees in the transition to a net-zero future. Recommendations include developing measurable sustainability indicators, educating employees on their role, and involving them in the company's sustainability strategy to increase awareness and commitment.
Employee mental health in the workplace encompasses emotional and mental well-being, with common issues like stress, burnout, anxiety, depression, and loneliness affecting many workers. Factors contributing to poor mental health include work-life imbalance, lack of connection, toxic workplace culture, and limited inclusivity and equity in mental health programs. Mental health impacts work performance through talent retention, productivity, engagement, and absenteeism, emphasizing the need for organizations to prioritize mental well-being. Effective strategies to improve mental health at work include leveraging data through employee surveys, cultivating empathy and connection, investing in holistic employee care, and promoting accessibility to mental health benefits.
LEADERSHIP & TALENT MANAGEMENT
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According to a study by the Society for Human Resource Management (SHRM), employees with highly effective managers feel more valued at their organization compared to those without such managers. Effective people managers have a positive impact on their teams, with 87% of them stating that supervisors reporting to them are among the best in the organization. Research shows that having a highly effective manager leads to increased employee morale, commitment, and retention. To address challenges faced by people managers, organizations should invest in tailored training programs, upskilling opportunities, and resources to support their growth and effectiveness.
Bombas, an apparel manufacturer, stands out as an example of an organization with a simple yet impactful business model focused on giving back to the community, contrasting with Boeing, whose cost-driven decisions have led to ethical issues and jeopardized safety. The stark contrasts emphasize the importance of ethical leadership in organizations, denoting the qualities that make an ethical leader and providing steps to identify and hire ethical leaders. By focusing on integrity, critical reasoning, moral mindset, and past behaviour during the hiring process, organizations can increase the likelihood of having ethical leaders who contribute to a positive work culture and overall success. Maintaining an ethical organization requires continuous effort and effective leadership, highlighting the benefits of ethical behaviour in attracting employees, customers, and investors.
Performance reviews are crucial for new managers and can greatly impact individual and team morale, as well as organizational effectiveness. Understanding the purpose of performance reviews is essential, as they evaluate past performance and pave the way for future progress and development. Thorough preparation, setting the right tone, encouraging two-way communication, and focusing on constructive feedback are key aspects of conducting effective performance reviews. Managers should also take a forward-looking approach by setting clear goals and providing ongoing support to employees post-review. Documenting the review accurately is important for accountability and tracking progress over time. Additionally, being aware of common pitfalls like recency bias, vague feedback, ignoring achievements, and avoiding tough discussions can enhance the effectiveness of performance evaluations. By following the outlined strategies and tips, new managers can master the skill of conducting performance reviews, assessing past performance, and inspiring future growth and engagement among employees.
RECRUITING & RETENTION
Recruitment and retention difficulties have somewhat decreased in 2024 compared to the peak of the great resignation in 2022, with HR leaders reporting a drop from 83% to 55% for recruitment issues, and from 66% to 41% for retention challenges. Survey results suggest that work arrangements play a significant role in retention challenges, with organizations allowing employees to choose where they work experiencing fewer retention issues compared to those with mandatory on-site work. Hybrid work arrangements have been beneficial for HR leaders in attracting and retaining talent, improving job satisfaction, and work-life balance, while on-site mandates may lead to higher retention difficulties and voluntary turnover. Employees are increasingly valuing pay, job security, health benefits, flexible work arrangements, career development opportunities, and upskilling/reskilling options when deciding to stay with a company, emphasizing the importance of listening to employees and potential hires for improving organizational success.
Tim Sackett, CEO of hrutech.com, provided insights on building effective hiring processes, especially for high-volume hires, by addressing organizational pain points and design failures. Common design failures in hiring processes include not prioritizing candidates, lack of measurability, over-customization, and allowing workarounds. Sackett emphasized the need to rethink time-to-hire as a health metric rather than a success metric and highlighted the importance of metrics such as recruiting capacity, quality of applicants, source of hire, and cost of hire. By viewing the hiring process as a machine that needs fixing, organizations can make strategic improvements to achieve success in talent acquisition.
LABOUR MARKET INSIGHTS
77% of employees consider notifications from workplace digital tools distracting, with 31% being distracted every 15 minutes, resulting in around 160 distractions per week. 66% of respondents are turning off email or messaging notifications to focus on work, while 59% feel that digital tools contribute to stress at work. The constant barrage of notifications affects productivity and work quality, potentially leading to burnout. Managers are particularly impacted, with 59% reporting distractions every 30 minutes or less. Employees value the connectivity digital tools offer but desire more control over notifications. Suggestions to combat digital noise include setting 'do not disturb' periods and promoting a workplace culture that supports personal boundaries.
North American tech workplaces are still adjusting to modern work patterns and flexible schedules, as revealed by a report from Hassell and Density analyzing workspace utilization. The analysis showed that up to $40 million in rent costs were wasted annually due to underused space, with average peak utilization not exceeding 34% in the studied workplaces. The shift to hybrid and remote work during the pandemic has left many tech offices underutilized, highlighting the need for adaptable workplace designs and utilization optimization strategies. Recommendations include creating versatile work environments that cater to the evolving needs of hybrid work models, reducing costs and environmental impact through space maximization, and enhancing collaboration and adaptability in the workplace.
Skilled and trained workers are finding it increasingly difficult to secure employment, even in a robust job market, leading to a growing frenzy to find work and causing burnout among job seekers. A combination of factors such as talent hoarding, altered hiring practices, and anticipation of AI impact has created a surplus of 'unemployables' in various industries, with long-tenured workers being caught off guard by the changing job landscape. Job applicants are advised to focus on keywords for AI filters, enhance their AI expertise, and avoid common pitfalls like using the 'open to work' banner on LinkedIn in order to increase their employability and adapt to the evolving job market. The prolonged spells of unemployment and the changing dynamics of the labour market are posing significant challenges for individuals seeking employment, necessitating a shift in approach and skill development to stay competitive in the current job market.
Job seekers in the U.S. are prioritizing pay, job security, and engagement amidst longer job hunts, with pay being the top motivator in the job search followed by employment security, opportunities to learn new skills, and potential for career advancement. The importance of pay as a motivator has increased, with 41% of job seekers stating it as the most important factor in accepting a new job, up from 37% in the previous year. Job security has also seen a rise in priority, increasing to nearly 20% in spring 2024 from 14% in spring 2023. Reports suggest that fostering a supportive and collaborative work environment can aid in boosting employee retention and overall job satisfaction, with trends showing employees are staying at their current jobs for reasons like pay, job security, health benefits, and flexible work arrangements.
85% of office workers believe that AI will enhance their roles rather than replace them, with 96% thinking AI can improve their professional skills. The top anticipated benefits of AI include saving time on information retrieval, more time for thoughtful work, and larger projects. 61% of office workers are unconcerned about AI taking over human jobs, while businesses and employees are increasingly adopting AI to boost productivity and skills. Younger workers, particularly those aged 18 to 25, view AI as a valuable educational resource, with top desired skills being analytical, financial management, and coding.
A new study reveals that the majority of global tech professionals, with 55% open to relocating for the right opportunity, are willing to explore new locations for career advancement. Tenth Revolution Group President highlighted the benefits of relocation in expanding job prospects and addressing talent scarcity challenges in the competitive market. Factors such as job security concerns, political events, and the rise of digital nomadism have contributed to an increasing trend of tech workers considering international job opportunities. While American tech workers may face salary differences when working abroad, lifestyle improvements, lower living costs, and favourable tax schemes are seen as attractive incentives for those considering relocation.
QUOTE OF THE WEEK
“Set hiring goals according to your stage and strategy, and the addressable talent market.†– Cynthia Owyoung, Founder & CEO at Breaking Glass Forums