The number of job openings reached a record high of 11.5 million in March, according to the Labor Department, up from 11.3 million in February and beating the previous record of 11.4 million set in December. The number of workers leaving their jobs reached a monthly high of 4.5 million in March.
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Companies can retain their lowest-paid workers by providing clear opportunities for advancement, training, mentorship and educational support, a Harvard Business School study finds. "Investing in upskilling incumbent workers who already possess knowledge, credibility and a history of service would seem to offer a far better return on investment than making frequent, speculative bets on an influx of candidates based on their job applications," write researchers Joseph Fuller and Manjari Raman.
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A family friendly workplace culture is becoming more important to employees, but regulations governing paid family leave have resulted in a good deal of complexity and confusion for some employers. Frank Alvarez and Michelle LaFond of employee leave management platform Cocoon discuss how paid leave rules are evolving and how employers can keep up with them.
Creator platforms such as YouTube, Snapchat and TikTok present a road map for corporate training providers to also become platforms, writes Josh Bersin. "If you sell an open learning platform, maybe you should add more features for authors so your customers can build their own academies for their clients," Bersin writes.
Employee well-being is driving employee experience above salary for worker priorities, according to recent Benefex data. Employers can communicate with workers, give employees a clear purpose, recognize and motivate, use emotional connections and foster a respectful and inclusive culture to improve employee experiences.
It was May 2009. The CEO at the company where I worked had just sent an email to all employees stating that as a result of the recession and its impact on our business, the company would be instituting payroll cuts across the organization. Anyone earning $45,000 or more would take a 20% cut, effective as of June 1. Those below this threshold would see a smaller reduction.
Everyone understood the economy was bad. We understood that the payroll cuts were designed to avoid personnel cuts. We didn’t like it, but it made sense.
But what aggravated many of us was the flimsy talk about “working together through a challenge will make us stronger as an organization” and that we may see half of the reduction restored after six months, depending on market conditions. No one believed it. We all knew that the cuts were permanent.
That payroll move – however necessary at the time – was the beginning of the end for that company. The company still exists, but the leadership that was in place at that time was removed just a few years later. But it was too little too late. The morale that nosedived after the cuts never recovered.
I thought of that when I read today’s HR Leader story. Leaders who ask their work teams to be “resilient” when their pay is cut or who think a Ping Pong table will make people want to be in the office, need a serious wake-up call and mindset change, according to Serenity in Leadership CEO Thom Dennis. He’s 100% right. It’s a new day and employees want better work experiences and authentic leaders who will treat them well.
Thoughts? Let me know! And if you enjoy this brief, tell others so they can benefit also.
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