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.”
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.
Design and execution of performance management haven’t changed much, Mercer reported in a global study conducted in June. Companies realize this, however slowly. Multiple studies say the traditional annual review model of performance management is slowly losing its foothold. Mercer isn’t the first company to conclude that annual performance management fails to raise workers’ productivity.
Deutsche Bank AG is planning to cut jobs in the U.S., Bloomberg reported. The company plans to inform its American workers on Monday once its restructuring is adopted over the weekend. According to the Bloomberg report, the bank may cut up to 20,000 jobs. There is no clear demarcation on the businesses which will be affected due to job cuts.
Over half of professionals plan to take at least one day off this week, a survey conducted by Captivate Office Pulse reported. The survey was conducted among 430 white collar professionals. Most professionals will take an off on Friday, July 5. Those who plan to show up at work will be either be hungover or extra tired, the survey found.
American adults seem to have lost faith in college education. The latest statistic, gathered from a survey conducted by Gallup and North-eastern University says about 22 percent of Americans feel that colleges are adequately preparing their graduates for future jobs involving technology. On-the-job training followed by in-person programs from colleges are preferred mode of education, the survey reported.
New data from Serenity at Summit says drug, religion, politics, and sex are discomforting topics for workers. 43 percent of workers are uncomfortable talking about recreational marijuana at work. Women are less likely than men to talk about their drug use with their coworkers. Marijuana followed by painkillers and amphetamines are commonly discussed drugs, the data concluded.
On Wednesday, Amazon announced that it will add over 2000 permanent jobs in Amazon’s UK head office. These jobs will include entry-level positions, engineers, software developers, data scientist, and cloud and machine learning experts. Earlier, in 2018, Amazon had added 2,500 jobs in Britain. The company also plans to create 1800 jobs in France.
A new Gartner survey says that CEOs should treat company culture as a business imperative. The survey found about 31 percent of CEOs believe that their organization has the kind of culture it needs. On average, companies are spending USD 2000 annually per employee on culture initiatives. The survey suggests CEOs to partner with CHROs to build a culture that meets business objective.
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