According to the findings of a study published on 1 Oct. 2020 in the MIT Education and Finance Policy, it was found that for every hundred workers who were laid off during economic recessions, there has been an increase of three students and completions of ‘career-technical programs.’ The study stated that the rise in enrollment had accounted for half of the increase in labor force non-participation after widespread layoffs.
According to economists, about 13 million Americans were unemployed in September, which is about 7 million more workers than pre-pandemic levels. Initially the early part of the recession was marked by temporary layoffs or furlough, however, now the permanent job loss is rising. Economists also suggested that a growing share of workers have been unemployed for a longer period of time, which can have severe financial side-effects.
In a September study from the Berkeley Haas School of Business, it was revealed that the characteristics of narcissistic leaders can infiltrate the company culture. The study stated that due to their “diffuse but persuasive ‘dark side’ impact” on the cultures, which they unintentionally create. The study concluded that employers need to develop practices that will prevent the recruitment and promotion of narcissistic leaders.
The recent survey results published in 5th Oct, 2020 report by consulting firm West Monroe revealed that C-suite found COVID-driven workplace measures to be barriers to productivity. About 40% of the 150 leaders surveyed responded saying that social distancing was the greatest hindrance to productivity while the other 37% cited remote work as hindrance to the productivity.
In an internal announcement made by the parent firm IAG on Monday, it was stated that British Airways Chairman and CEO Alex Cruz will resign from his position as the airline’s chief executive. Aer Lingus Chairman and CEO Sean Doyle are expected to take the charge after a transition period. The statement quoted IAG Chief Executive Luis Gallego saying, “We’re navigating the worst crisis faced in our industry and I’m confident these internal promotions will ensure IAG is well placed to emerge in a strong position.” The COVID-19 outbreak led to an exceptional hit to air travel and brought the entire industry to standstill.
According to a recent report by IBM Institute for Business Value report dated 30th Sept, 2020, it was revealed that while executives recognize the pressures employees face as organizations move through digital transitions, most of the employers had overestimated their offerings in areas like training, support, and job expectations. The data collected from numerous surveys conducted by IBM found that the employees were divided on various issues including physical and emotional health among other.
According to an announcement made on 3rd Oct, 2020, it was revealed that Pennsylvania will increase its salary threshold in stages and will eventually hit $875 a week. The announcement also stated that the state will also change its duties tests for executives, administrative, and professional workers to more closely align with those found in the Fair Labor Standards Act (FLSA). The announcement was made by the Department of Labor and Industry. Changes in expanding eligibility for overtime pay to 143,000 people are expected.
In a recent announcement made by Microsoft, the tech giant told its employees that they will be able to work remotely less than 50% of the work week, whenever it will be safe to return to office. The announcement also stated that employees will also be able to work from home full time post their manager’s approval, in addition, they can also move to new geographical location for remote work again with their manager’s approval.
In a recent survey carried out by the firm Robert Half, it was revealed that virtual hiring strategies have gained widespread favor during the COVID-19 pandemic. According to the survey about 75% of the senior managers who were surveyed revealed that their companies conducted remote interviews and onboarding sessions during the pandemic. The survey also stated that more than 60% of these practices were implemented only since the pandemic had hit the world.
According to the recent survey carried out by the HR consulting firm Mercer, revealed that more than half of employers would not make cost-shifting changes like raising deductibles or copays to their healthcare benefit plans in 2021. The survey revealed that on average, respondents were expecting healthcare benefit cost increases of 4.4% in 2021, which will be slightly higher than estimates predicted in the last year’s survey.
In a recent development related to the jobless claims, the first-time claims for unemployment benefits that added up to 840,000 as compared to the last week, which was the higher than the 825,000 Wall Street estimate. The claims have remained over 800,000 every week since mid-March.
In a recent announcement made by the US passenger railroad Amtrak it was found that in the absence of a new government bailout it can be forced to cut additional train service and cut spending that can further lead to the loss of additional 2,400 jobs. In its announcement, Amtrak has revealed that it needs up to $4.9 billion in government funding for the current budget year, which is up from the typical $2 billion in annual support.
In a recent development, Adidas appointed Amanda Rajkumar, as its new head of human resources post the employee complaints over racism at the German sportswear company led to Karen Parkin’s departure in June. Parkin had stepped down as HR chief after some employees had called for an investigation over her handling of racism at the organization.
According to a law signed by Gov. Gavin Newsome, private California employers are required to file an EEO-1 report with the US Equal Employment Opportunity Commission should also submit a pay data report to the state’s Department of Fair Employment and Housing either on or before 31 March, 2021. The law mandated that every employer filing a report that should include the number of employees from the previous calendar year.
In a recent incident, members of the European Parliament have written to Jeff Bezos – Amazon boss – asking him if his organization is hiring intelligence agents to spy on politicians, trade unionists, and staff members. The letter has come after Amazon deleted two job postings for ‘intelligence analysts,’ ideally with French and Spanish skills. According to the job postings, the jobs involved monitor various threats perceived by Amazon.
According to the recent McKinsey & Co. global survey it was revealed that organizations like Cisco have been reimagining the future of work considering the move toward a more remote workforce during the coronavirus pandemic. The report predicts that by 2025 more employees will be working on a hybrid work schedule, in addition, AI and machine learning will transform hiring and innovation teams will be more global.
In a recent report shared by Bank of America dated 24 Sept, 2020, it was revealed that more than half about 62% of employers feel ‘extremely’ responsible for employees’ financial wellness, as compared to 13% in 2013. The report that was titled Workplace Benefits Report and was based on the survey of 996 employees and 808 employers. According to the report, the employers also feel responsible for employees’ retirement healthcare needs and costs.
Democrats and Republicans still not able to find a common ground on enhanced unemployment benefits – this is more than two months after the initial job benefits expired. House Democrats had passed about $2.2 trillion measure last week, which would have extended a $600 weekly unemployment supplement through January.
Capital Grille in Washington DC is facing lawsuit filed by a server who alleged racial discrimination. The lawsuit was filed with the US Equal Employment Opportunity Commission (EEOC) against Darden Restaurants. According to the charge the chain’s operator, indulged in racial discrimination by holding the non-white workers to a higher workplace standard as compared to their Caucasian counterparts and assigning them to section 8 of the restaurant.
In order to prevent furloughs and layoffs, Southwest Airlines on Monday announced that it has asked unions to agree to pay cuts through 2021, as the industry struggles to stem losses from the global pandemic in the absence of more federal aid. About 83% of roughly 61,000 Southwest employees is represented by unions. The airline also announced 10% cut for non-union staff until 1 Jan, 2022, hopefully when the normal services will be resumed.
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