Initial jobless claims dropped by 3K last week | Hiring emphasis on skills can help bridge racial job gap | The value of a team-based approach to coaching
Initial jobless claims dropped to a seasonally adjusted 192,000 last week, a decline of 3,000 from the prior period, according to the Labor Department. The four-week moving average posted a slight uptick to 191,250. Full Story: Reuters (2/23),MarketWatch (tiered subscription model) (2/23),The Wall Street Journal (2/23)
Recruiting & Retention
Hiring emphasis on skills can help bridge racial job gap Choosing an applicant by focusing first on their skills rather than college degrees or work experience is far more likely to predict success in the job, according to researchers Jon and Ronda Hunter. The strategy also can help close the workforce's racial gap, as more than 75% of Black Americans lack a college degree, write analysts from Bain & Co. Full Story: Bain & Co. (2/22)
401(k) accounts saw significant decline in 2022 Fidelity Investments reports that the average 401(k) account was down about 23% by the end of 2022 from a year ago, and Vanguard reports a 20% drop. The average contribution rate was measured at 13.7% in the fourth quarter, according to Fidelity. Full Story: Bloomberg (2/23),The Hill (2/23),CNBC (2/23)
The HR Leader
Is the tide shifting away from empathetic leadership? In the early days of the pandemic, employers understandably bent over backward to accommodate the needs of employees. However, the tables seem to be turning as more employers insist workers return to the office and layoffs have hit underrepresented groups disproportionately, especially in the tech sector. Full Story: TIME (tiered subscription model) (2/21)
Workplace Chatter
Study: Positive relationships make for a happy life A study spanning more than 80 years identifies the factor in life most associated with longevity and happiness: positive relationships. "Whether it's a thoughtful text, a DM via social media, an email, a phone call, or in-person contact, all moments of dedicated attention have meaning and value," writes author and licensed master social worker Dan Mager. Full Story: Psychology Today (2/18)
SmartBreak: Question of the Day
POLL QUESTION: Sharing a birthday today, who among the following was born in Wilmington, Del.? Check your answer here.
Unlimited time off as a benefit is quickly gaining steam, according to Sorbet, a company that converts unused vacation time into cash on prepaid cards. The number of organizations offering this benefit has spiked fourfold since the pandemic began. This was unheard of just a few years ago. But as Netflix and other organizations began offering it, companies began investigating it for their workforce. It’s a benefit here at Future PLC, the company that owns SmartBrief. Where are you in this equation? Are you offering or considering to offer unlimited time off to your employees? Let me know! And if you enjoy this brief, tell others so they can benefit also.
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