New legislation in South Korea will incarcerate employers if they dismiss harassed employees, the Guardian reported. South Korean employers have been known to turn a blind eye to abusive perpetrators. Around two-thirds of South Korean workers have experienced harassment at work, according to a government report. The new legislation will imprison company owners to three years if found to demote or dismiss harassed workers.
Company culture and mission are more important to millennial workers than money, a new Glassdoor study found. 77 percent of people consider company culture and 56 percent give more importance to company culture than salary, the Glassdoor study, conducted among 5,000 adults, reported. Company’s mission is also an important job satisfaction factor; salary is a small part of it.
Amazon will invest USD700 million to train its employees for future jobs, the company announced on July 11. The company will train its workers for both technical and non-technical jobs. The training program will include workers from corporate offices, fulfillment centers, retail stores, tech hubs, and a transportation network. Recent reports have predicted loss of jobs due to increased automation.
A new study conducted by Gartner says three-quarters of hiring managers are indecisive. This leads to lower-quality hires and longer time-to-fill rates. The study further found that decisive hiring managers hire 10 percent higher-quality candidates and 11 percent fewer lower-quality candidates than non-decisive managers. The time-to-fill rate is reduced by 17 percent if the hiring manager is decisive.
On Friday, President Donald Trump told the press that U.S. labor secretary has resigned. Patrick Pizzella will be acting secretary. Acosta was involved in a controversy over the handling of a case that involved Jeffrey Epstein during Acosta’s time as a federal prosecutor. Epstein was brought to court again after it was found that the plea between victims and him, violated the victim’s right.
Recent layoffs across banks in Hong Kong, has bankers struggling to find jobs, Bloomberg reported. Deutsche Bank AG’s and Nomura Holdings Inc.’s laying off, cost-cutting and increasing demand for Mandarin speakers have decreased opportunities for expats bankers in Hong Kong. Expensive rent and high cost of living in Hong Kong are forcing expat bankers to opt for lower-paying jobs or demotion.
Walmart updated the look of its iconic employee vests, the HR Dive reported. Now, the retail company allows its workers to wear more casual clothes, including jeans, to work. The company decided to make this change to make its workers feel more comfortable. Target and Goldman Sachs also relaxed their dress codes this year.
A new KPMG report says around 47 percent of HR leaders believe AI will create more jobs than it will replace. The report further added “successfully integrating human labor with AI”, will be a key challenge for employers. 42 percent of CEOs plan to upskill the majority of their employees in AI in the next three years, the report said.
On July 5, four women employees of The Walt Disney Co. joined a class-action lawsuit alleging gender pay gap at the company, a press release from the law firm Andrus Anderson LLP said. The suit alleges the company paid women less than men in similar roles. Lawyers from the law firm said women had “glowing performance reviews”.
Increase in benefits plans decrease turnover among employers, reports Paycor. The data gathered by Paycor shows that the average turnover rate for employers with no benefits is 157%, while employers offering at least six benefit plans have a 138% decrease in turnover. Workers value money above all and benefits come after compensation for employees, Paycor further concludes.
Concept of retirement has become fuzzier, HR Dive reports. The decline of traditional pension plans, the upswing of defined contribution plans, increase in life expectancy, retirement plans define a certain retirement age. Most employees are not financially prepared to live on a retirement income. 52 percent of U.S. employees plan to postpone their retirement due to finances, Metlife reports in its annual study.
Bombardier Inc. is laying off half of its 1100 workers at its Thunder Bay, railway car plant, Bloomberg reported. The company announced on Tuesday that it will be winding down manufacturing of its Toronto Transit Commission Streetcars and Metrolinx GO transit rail cars by the end of this year.
On Wednesday, Gavin Newsom, Governor of California, passed a law banning policies that discriminate against natural hair. The law is called CROWN Act and follows the legislation passed by New York City which sets guidelines against workplace discrimination based on employees’ hairstyles. The Act expands to anti-discrimination law to include protections for all-natural hairstyles including twists and braids.
Currently, in the US workforce, the number of college-educated women is more than college-educated men, a Pew Research says. It is the first time in the history of the U.S. workforce. At present, the US workforce has 29.5 million women and 29.3 million men with a bachelor’s degree. The increasing number of women in the workforce will reduce the gender pay gap, reports Forbes.
The U.S. Bureau of Statistics reported 224,000 job gains in June. This number is greater than May’s and April’s which were 72000 and 216000 respectively. Job growth across various industries is notable. This year the average employment growth dropped to 172,000 a month, which made industry experts predict economic slowdown. However, the latest figures from BLS say otherwise.
Amazon workers have planned to stage a strike at a fulfillment center in Minnesota, Bloomberg reported. The strike is planned for July 15 and would last for six hours. The workers demand the company to provide them permanent jobs and reduced productivity quotas at fulfillment centers. Workers also want to know the operations behind the company’s e-commerce business.
Deutsche Banks is revamping its investment banking wing. This overhaul will cost the bank 7.4 billion euros and 18,000 jobs. The bank will also do away with its global equities business, reform its investment banking and will trim its fixed-income operations. It might reduce its headcount to 74,000 by 2022.
Amazon is planning to expand its workforce in the U.K. 2,000 jobs will be created in “head office, R&D, Amazon Web Services, and Operations.” The U.K Chancellor Philip Hammond said, “This government is supporting the business to create the high-skilled, high-paid jobs of the future, and these roles will benefit people across the U.K.” However, in reality, the roles may be low-skilled and low-paid.
Studies have suggested that Facebook users feel depressed after incessant scrolling through their newsfeed. Facebook and other social media sites are being criticized for contributing to addiction, low self-esteem, and loneliness. Facebook team has a major challenge ahead “how to positively impact users’ lives.”
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The world’s biggest pride celebration held on June 30 in New York featured 72 corporate sponsors. TD Bank, Airbnb and other 38 community and non-profit partners came together to support it. World’s top corporates are now coming forward to support LGBTQ customers. Some companies have included LGBTQ+ Business Climate Index to rate quality of LGBTQ+ legal protection, political attitudes, healthcare access, and family support.
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