.jpg "TRADITIONAL PERFORMANCE MANAGEMENT IS LOSING SHEEN")
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.
.jpg "WORKERS MAY TURN JULY 4 INTO A LONG WEEKEND")
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.
Garett Camp, the co-founder of Uber, has bought a Beverly Hills mansion worth USD 72.5m in Los Angeles. This purchase has garnered attention to the wealth gap that exists in the city and has upset Uber drivers. Drivers are fighting for worker compensation, unemployment insurance, minimum wages, and other rights. “It’s an abomination. Income inequality has gone rampant.”, a driver said.
A study of Begom says UK workers are better aware of gender pay disparity than the US workers. More workers in the UK are aware of the pay discrimination. The survey, conducted among 1,600 employees, aimed to uncover differences between U.S. and U.K. employee perceptions. Around one-third of employers have committed to solving pay gap figures, while 13 percent of U.S employers said to do so, the study found.
Data collected between 1997 and 2016 shows a drop in sexual harassment complaints. However, a study published in the journal Gender, Work, and Organization reveals that African-American women have experienced an increased risk of sexual harassment. The study indicated that higher unemployment rate was followed by increased harassment cases.
On Sunday, millions of people came together on the streets of New York to wave rainbow flags and celebrate LGBTQ equality. According to the Reuters report, this was the largest gay pride celebration in history which commemorated the 50th anniversary of the Stonewall uprising. Around 150,000 marchers and 4 million spectators were present at the celebration. Top tech companies also joined the event.
MIT Sloan Management and Glassdoor have introduced a tool to compare and rank company culture. The tool is dubbed as ‘Culture 500’. The tool uses artificial intelligence to derive insights from Glassdoor’s data to rank companies on nine dimensions, which include collaboration, integrity, agility, diversity, customer orientation, execution, innovation, performance, and respect. The tool is created by Donal Sull.
Apps and tools meant to increase productivity have become distractions, a new survey conducted by GoTo found. Employees are toggling between work and personal topics on work apps, the survey further said. Around 54 percent of employees, among 2000 surveyed, use at least five different programs at work. Loud conversations and phone calls cause workers to make mistakes, the report said.
On Thursday, Jony Ive, who is responsible for the design of all Apple devices, announced his departure from Apple. His made the disclosure in an interview with the Financial Times. Jony plans to launch a new company called LoveFrom and will remain involved with Apple in a company-client relationship, the Guardian reported. Recently, Apple became the world’s first trillion-dollar company.
A survey from the International Foundation of Employee Benefits Plans found that 92 percent of U.S. employers offer educational benefits in one form or the other. Tuition assistance/reimbursement is the most common means, with around 63 percent of employers doing so. Majority of employers reimburse between $5,000-$5,999 at the end of the study. High cost and complex implementation of the arrangement stop remaining employers from offering educational benefit, the report said.
20 percent of employers have boosted healthcare-related and wellness benefits this year, an employee benefits survey found. Rising healthcare cost is the major motivation behind this. Workers also view healthcare benefits as most important, the survey reported. Among other benefits, the number of employers that offer student loan repayment assistance benefits has doubled.
Employees of Huawei technologies Co have worked on at least 10 research projects with Chinese armed force personnel over the past decade, Bloomberg reported on Thursday. The company, however, denied having any knowledge of this partnership. Huawei workers were involved with the Chinese army in various projects including artificial intelligence, radio communication, etc. The company is under scrutiny over spying allegations.
Lisa Bridges, a former executive of WeWork has sued the company for sexual harassment, gender discrimination, equal pay violations, retaliation, aiding and abetting discrimination. Lisa during her work found that the company had significant equal pay problem. Allegedly, the company retaliated against her too. Earlier, another former vice president had filed a complaint against the company for age discrimination.
A McKinsey & Company survey, conducted among 500 U.K. managers, found company leaders to be confident in their talent management practices. However, employees in non-managerial roles think CEOs and managers are the reason for unsuccessful talent management. Companies were evaluated on 21 talent practices and only a quarter of them showed satisfactory practices.
Employees of Wayfair, online home goods company, will stage a walkout on Wednesday to protest against the company’s involvement in furnishing border camps, the Guardian reported. The employees demand that the company stop its partnership to provide beds for detained immigrants. Around 547 employees have signed a letter saying the company’s involvement does not represent an ethical business partnership, the Guardian report said.
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