In response to the rising unemployment rate among the US citizens, the CHROs at Accenture, Lincoln Financial Group, ServiceNow and Verizon designed a free platform that would connect furloughed or laid-off employees with employers who are hiring these individuals. According to the announcement made by Accenture, dated 14 April 2020, the initiative – titled People + Work Connect – was designed to address the rising demand of unemployed professionals owing to the coronavirus pandemic.
According to a report by Gartner Inc published on 14 April 2020, it is revealed telework would become a workplace standard for numerous companies due to the COVID-19 pandemic. The report also stated that remote teams would become more commonplace post the pandemic passes. The report also shared that about 50% of the organization represented in the survey of HR leaders revealed that about 81% or more of their employees are working from home.
In an internal announcement made by Citigroup, it was revealed the company would continue with its summer analyst internship program despite the impact of coronavirus. In a letter sent to the interns, the bank said that it would delay the start dates to 6 July 2020, however, the interns would still receive their 10 weeks’ pay during the delay. It was also noted that the bank considered the option of virtual delivery. The letter also stated those interning for programs based in New York, London, Hong Kong, Singapore, and Tokyo would receive a full-time offer from the bank upon the successful graduation.
According to the survey report by PwC, chief financial officers in the wake of coronavirus pandemic, have increasingly been expecting layoffs. The initial report that had come out at the end of March featuring a survey of CFOs in the US and Mexico revealed that about only 16% of CFOs expected layoffs. But with the recent report released on 13 April 2020, there has been a significant increase in the percentage (about 26%) of CFOs who anticipated layoffs in the US and Canada.
In a recent announcement made by Facebook CEO Mark Zuckerberg stated that the company is canceling all its planned physical events until June 2021. Zuckerberg said all the events with 50 or more attendees will be canceled till next year June. He also said that the company would require a majority of employees to work from home till the end of May 2020. The announcement came two days after California Governor Gavin Newsom revealed a six-point outline of what the state would consider before it slowly re-opens businesses, schools, and other day-to-day activities.
United Airline Holdings Inc on Wednesday announced that it has slashed its flight schedule by almost 90% for the month of May. The announcement also stated that similar cuts will be done for the month of June as well as owing to coronavirus pandemic. The airline also added that with travel demand going all-time low with no signs of improvement, there can be a likelihood of job cuts as well.
The recent announcement made by the organization Best Buy revealed that it will furlough about 51,000 hourly store employees in the US. The announcement that was made on Wednesday also stated the drop in sales of about 5% in the first two months of the current quarter, as the electronics retailer has shut its stores due to the global pandemic. Some corporate employees are also expected to participate in voluntary reduced workweeks and furloughs.
In a recent internal memo released by Google on Wednesday, the chief executive officer Sundar Pichai addressing the staff members revealed that Google will slow down its hiring process in 2020. The memo also revealed the further plans of maintaining the momentum in small measures in a strategic area and onboarding the many people who have been hired but have not started.
In an internal memo shared by Standard Chartered Bank, the chief executive officer Bill Winters had sent a message to all the staff members strictly ordering them to stay away from Zoom and Google hangouts amid cybersecurity concerns during coronavirus outbreak. The memo stated that neither of the services was highly encrypted to maintain the security levels required by the global bank.
An online career community for women – Fairygodboss – announced two new features in April to fight the job search difficulties. The community stated that the new features will aid their audience who may be experiencing difficulties in looking for a job amid the global pandemic. According to the announcement, the ability to complete ‘one-click’ applications with 12 companies actively looking to increase female representation in their organization. The company also launched a free platform for women professionals to let recruiters know about their availability.
In a recent development on onboarding experience, experts suggested that the program should cover at least the first 90 days of employment. However, the internships usually don’t last that long. So HR professionals world over have crafted three steps to optimize the onboarding experience of interns.
According to the data shared by PayScale with HR revealed an increase in the total compensation for HR managers has risen to about 12% since 2011. More than 50,000 HR professionals contributed to the survey. The survey report also revealed that HR skills with the highest positive influence on salary growth included operations management, curriculum planning, change management, and strategic project management among others. The report also revealed that any skill that points to a strategic perspective would ensure a good salary package and career growth.
In a recent development, the online retailing giant – Amazon announced that it will create about 75,000 extra jobs for the employees who were furloughed in the US and Canada in response to the coronavirus pandemic. The announcement also stated that the online retailing giant has hit its previous hiring targets and now will need another recruiting drive.
The fast-food giant McDonald’s Corp is again in the news for all the wrong reasons, it seems. The fast-food giant was hit with a class-action lawsuit that accused it of subjecting its women employees in its corporate-owned fast-food restaurants in Florida to widespread sexual harassment. According to the lawsuit filed in federal court in Chicago on Friday the company fostered a climate of severe or pervasive sexual harassment and a hostile work environment.
The latest thing to get affected by coronavirus is the background checks for the new hires and it also includes whether a candidate has a criminal record or not. Owing to the COVID-19 pandemic, the courts across the country have restricted access in order to curb the coronavirus spread. This has result in delayed background checks, which has slowed down the hiring process.
According to a survey by marketing firm Hinge, it was revealed majority – about53% of professional service firm employees are dissatisfied with their employers’ responses to the coronavirus pandemic. The report also stated poor communication and lack of planning were the prominent comments from employees who had negatively rated employers’ responses. The survey also revealed some disturbing facts as well as some positive views of employer responses that were cited as decisive, proactive measures like remote-work capability as being effective.
According to the latest news on coronavirus, National Labor Union leaders have sent a letter to Amazon founder and CEO Jeff Bezos on 1 April 2020, demanding safety improvement for the US warehouse workers amid the coronavirus pandemic. The group comprised of the AFL-CIO; the Retail, Wholesale and Department Store Union, and the American Federation of State, County, and Municipal Employees.
The recent development in the COVD-19 pandemic, Mexican cement maker Cemex announced on Wednesday that it has asked its employees to voluntarily ‘defer 10% payment’ of their salaries for the coming three months. The move was initiated as a part of raft measures to battle the impact of coronavirus, which included scrapping 2020 dividends. The statement released also stated that the senior management team was asked to forego about 15% of their salaries for the period starting 1 May 2020.
Amidst all the depressing news floating around, BlackRock, the world’s largest asset manager announced that it will not layoff its employees during the year due to coronavirus outbreak. The announcement was made by the company’s CEO Larry Fink. The statement also stated that the organization will also pay full-time wages to its support staff like cafeteria, and maintenance workers, even if they can’t come to work.
The professional networking site recently announced that it will allow free job postings for eligible organizations over the period from 1 April to 30 June 2020. The site also announced that all the jobs posted in this category will receive an extra promotion to highly relevant candidates in your particular area. The company will promote critical front-line healthcare roles and will list those openings on a central site for COVID-19 relief work opportunities.
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