Private-payroll expansion hits lowest point in recovery | Klarna posts list of recently dismissed employees | 4 ways to fine-tune your firm's hiring process
The US added 128,000 jobs to private payrolls in May, according to ADP, marking the lowest monthly gain of the pandemic recovery and falling short of forecasts. Small-business payrolls declined by 91,000, while large and midsize firms added more than 200,000 workers.
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Buy now, pay later firm Klarna has received criticism for its decision to post the names of hundreds of recently dismissed workers on LinkedIn. Klarna says the dismissal decision was made reluctantly as part of a cost-cutting effort and that the individuals on the list signed up for it voluntarily, though a debate continues over whether the post is highly insensitive or helpful in steering recruiters toward the former employees.
Older workers nearing retirement face certain challenges in this work environment, according to papers delivered during a symposium hosted by the Pension Research Council. Among the findings: Retirement rates are above pre-pandemic levels, and older workers might face age discrimination, a risk that is magnified during recessionary periods.
Companies can keep employees on the job by recognizing and appreciating the unique talents they possess, says Roger Martin, an author and former dean of the Rotman School of Management at the University of Toronto. "The real secret to talent is to treat them as an individual, to make sure that they're not blocked in their own individual path forward, and to make sure they're appreciated and patted on the back for their individual ability to contribute," Martin says.
Anticipating upcoming experiences such as vacations or parties can bring a sense of joy similar to actually experiencing the event, say researchers. The key, according to Christian Waugh, a psychology professor at Wake Forest University, is to avoid anticipatory anxiety by framing "anxious things as exciting" to get the feeling of immediate happiness.
I had a conversation with my Uncle Sonny a few months ago about getting an MBA. The idea had been on my mind for some time. Uncle Sonny has an MBA and was formerly on the faculty at a business school in Washington state. He was the perfect person to help me figure out how to do this.
“No, sweetheart, not right now,” he said. I was startled. I expected kudos and encouragement, as is his character. This counsel surprised me.
Business school is all about models, he explained. “Everything you learn is based on models that have been around for decades,” he said.
But COVID-19 upended all of that, he said. Companies and business leaders were suddenly confronted with issues they hadn’t anticipated and weren’t prepared to address. “The models didn’t work the way they were supposed to,” he said.
He advised me to wait. Business schools will be examining the models and revamping them based on lessons learned from the pandemic. “Let them figure some of this out first and then apply,” he said.
Roger Martin talks about the need for companies to rethink traditional management models in today’s HR Leader story. Organizations should not assume that future trends will follow historical patterns. This seems prudent advice for employers and HR managers. The HR world is evolving rapidly and many of the talent practices we have relied on are crumbling under the weight of change.
How will you adjust your policies and protocols to suit future needs? Let me know! And if you enjoy this brief, tell others so they can benefit also.
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