Some businesses may have to classify certain workers as employees instead of independent contractors under new rules being issued by the Department of Labor, and that could result in providing them benefits, writes Gene Marks, a CPA and owner of The Marks Group. To check whether a business' classification is on the right track, consider whether independent contractors are self-directed, do work that is outside the usual performed by employees, and typically work for another business or in their trade. Full Story: The Philadelphia Inquirer (tiered subscription model) (7/18)
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Recruiting & Retention
Employees wary as bosses eye roles for the metaverse As employers warm to the idea of a hybrid workplace, possible uses of the metaverse are coming to the forefront, but Harold Li of ExpressVPN points out there are challenges. "Employees are concerned about what this means for their privacy, primarily the surveillance of their real-time location, screen monitoring and even eye tracking," Li said. Full Story: Employee Benefit News (free registration) (7/14)
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Are millennials missing savings opportunities? Fifty-eight percent of eligible employees are taking part in 401(k) plans, but most contributed less than $5,000 in 2021, according to Bank of America research. Millennials are less likely than their older counterparts to take part in these plans and tend to contribute less when they do participate. Full Story: PlanSponsor (7/18)
Path to Workforce
Cybersecurity firms, universities focus on tech talent To address a skills shortage, cybersecurity companies around the globe will partner with four universities to create a platform that will include practical training on technology. The Cyber Talent Hub, to be launched at year's end, will allow companies to train students on specific technologies that they will see during their tech careers. Full Story: The Wall Street Journal (7/19)
The HR Leader
Survey: HR pros' overriding concern is culture Building and maintaining a company culture is the largest concern of HR professionals, with almost 60% of respondents citing it as a problem in the 2022 Identity of HR survey. The survey also found that empathy from managers is important because workers "don't leave companies -- they leave managers," says Lynne Oldham, chief people officer at Stash. Full Story: HR Dive (7/18)
About the Editor
Kanoe Namahoe
Change is afoot in the modern workplace, as we see in our two leading stories today. New policy from the Labor Department may affect how businesses classify independent contractors and some companies are looking to metaverse technologies to help them better engage with their teams. What does all this mean? It means that work as we know it is evolving -- for better or for worse remains to be seen. Freelance workers and independent contractors may see their status change, making them eligible for employment benefits and protection under the Fair Labor Standards Act. But how will this affect their autonomy? Will employers -- who would have to spend more on benefits, salaries and overtime -- hire fewer workers? And metaverse technologies -- biometrics, facial recognition, time tracking and real-time monitoring of location and screen use. It’s so Orwellian. What impact will this have on worker trust? How will employers explain and sell this idea to their teams? What say you? How are you feeling about these potential changes? Does it feel like progress or Big Brother? Let me know! And if you enjoy this brief, tell others so they can benefit also.
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