Job openings soared to 11 million in October, according to the Labor Department. This falls just below a reported all-time high, while the number of people leaving jobs declined to 4.16 million. Full Story: The Hill (12/8),CNBC (12/9)
Recruiting & Retention
Q3 labor costs rose faster than previously thought Labor costs increased at a 9.6% annualized rate in the third quarter, according to the Labor Department, an upward revision of the 8.3% previously estimated. With hourly compensation rising at a rate of 3.9%, the figures indicate inflation could remain elevated. Full Story: Reuters (12/7)
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Benefits & Compensation
Survey: Gen Z workers look to retire early A Goldman Sachs Asset Management survey suggests that one-quarter of members of Generation Z are looking to retire before age 55 --- an expectation that might not match with reality. Just 8% of people retire before turning 55, and the most common time to leave the workforce is between the ages of 60 and 64, data shows. Full Story: Bloomberg (12/8),401(k) Specialist (12/8)
Technology
Will you be a VR avatar in the metaverse office? Maybe Online worlds in which employees present as avatars could be the way some employers improve hybrid and remote work. Microsoft and Meta are exploring VR concepts, while startups such as Gather and Teamflow are also entering this market. Full Story: Protocol (12/7)
The HR Leader
Better.com CEO offers a lesson in how not to lead Vishal Garg, CEO of Better.com, recently fired 900 people in a three-minute video call, accusing many of only pretending to work, and his apology was not issued publicly or to those former employees, but was an internal email that leaked anonymously. "Once again he has made the issue, the emotional turmoil, the hardship, all about himself," Reuben Salsa writes. Full Story: Medium (tiered subscription model) (12/8),TechCrunch (tiered subscription model) (12/7)
About the Editor
Kanoe Namahoe
The metaverse office? Are we really there already? Today’s Technology story about the next phase of virtual office will get you thinking. Could this really work? Could we collaborate better at a virtual conference table with avatar representations of our colleagues than we do live and in person? What impact could this have on people’s interpersonal skills and mental health? And what about surveillance? This story set off a firestorm of questions in my head. I get why it’s attractive to some companies. Nonetheless, I hope mine doesn’t move in this direction -- at least not fully. I still enjoy interacting with real humans. I still like the watercooler conversations, impromptu coffee runs and lunchtime collaboration sessions around a real conference table. But if we do, my avatar will be a size 4 and have purple hair. And I’ll repel to my desk from the vaulted ceilings over the editors’ department. (Hey, go big or go home, right?) What do you think? Will the metaverse office be your reality? Let me know! And if you enjoy this brief, tell others so they can benefit also.
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