Talent Acquisition Newswatch - Issue 1.74
TOP STORY
Burnout and boreout are both recognized conditions in the workplace, with burnout being caused by overwork or stress leading to physical or mental collapse, while boreout stems from feeling unfulfilled due to a lack of challenging workload. Symptoms of burnout include tiredness, irritability, and decreased performance, while boreout can manifest as disinterest, worthlessness, and depression. Treating both conditions involves self-reflection, setting achievable goals, and disconnecting from work pressure, with boreout requiring new and stimulating challenges to restore enthusiasm. Employers are urged to be mindful of these conditions, especially with more employees working from home, and should promote mental health awareness, communication, and support in the workplace.
COMPENSATION & BENEFITS
Negotiating a higher title in a new job can increase your value in the long run, even if it doesn't result in immediate financial gain. This can enhance your resume and position you better for future opportunities. Requesting an earlier review period for a salary increase can be a strategic move if you don't reach your desired salary initially. Setting clear expectations and performance benchmarks is crucial during this negotiation. Asking for more flexibility in terms of office hours or remote work can be successful if you can demonstrate how it benefits the company as well. Highlighting increased productivity and engagement can strengthen your case for flexible work arrangements. Negotiating to receive your full bonus at a new job, without it being prorated, can help you maximize your earnings when transitioning between companies. If full bonus payment upfront is not possible, incorporating it into your compensation package can be a viable alternative.
Results from the 2024 Deloitte Health Care Consumer Survey show that half of women in the US skip or delay medical care due to barriers such as cost, long wait times, and transportation issues, with women being 35% more likely than men to forgo care. Women are most likely to skip care related to acute illness, preventive care, and women's health issues, especially due to cost concerns, revealing a significant gap between men and women in accessing healthcare services. The survey also highlights that women are less financially prepared for medical emergencies compared to men, with 44% of women feeling unprepared to cover a $500 medical expense, emphasizing the intersection of women's health and financial wellness. Experts emphasize the necessity of addressing the identified barriers to healthcare access for women to ensure they do not have to choose between their health and financial stability, with implications on overall well-being and potential impacts on employers.
Research reveals that due to the low statutory maternity pay in the UK, over 40% of mothers are compelled to return to work within 12 weeks after giving birth, causing financial strain on families. Campaigners are urging the government to increase statutory maternity pay and maternity allowance to align with the national living wage, as the current system leaves many mothers struggling with debt and impacts their mental health. Experts emphasize the importance of supporting new parents through improved maternity benefits, flexible work arrangements, and enhanced payments to ensure employee wellbeing, retention, and loyalty. Calls are made for a reform of the parental leave and pay system to provide greater fairness, flexibility, and choice for working parents, aiming to alleviate financial burdens and strengthen workplace retention.
DIVERSITY, EQUITY & INCLUSION
AI in hiring can disadvantage marginalized job seekers by embedding biases that limit job opportunities. It often misinterprets immigrant qualifications, suggests lower-wage jobs, and may discriminate against women or people with disabilities. AI systems can create an "invisible cage," controlling which jobs candidates see without transparency. Solutions include improved regulation, crowdsourced transparency platforms, and adding AI hiring practice ratings on platforms like Glassdoor and LinkedIn.
A report reveals that over half of Gen Z and millennials expect companies to take a stronger stance on social issues, with 58% of Gen Z and 49% of millennials feeling companies are not doing enough. The younger generations prioritize companies that address social justice, diversity, and sustainability, aligning their consumer choices with their personal values. Diversity and inclusion, along with employee well-being, are crucial factors for Gen Z and millennials when choosing where to work, emphasizing the importance of Equity, Diversity, and Inclusion (EDI) initiatives. Experts highlight the need for businesses to take real action beyond just social media posts, as young consumers and employees value purpose-driven companies focused on social impact and long-term success.
Diversity, equity, and inclusion (DEI) are crucial for employers, with many focusing on diversity hiring goals and detailed reporting to track progress. Training plays a key role in achieving DEI objectives, but it should also aim to improve the business acumen of candidates and employees, impacting talent acquisition, onboarding, and skills development. Supporting candidates through career-focused training, enhancing the onboarding process, and investing in upskilling employees can lead to a more inclusive and successful workforce. By prioritizing DEI practices, organizations can enhance retention, attract diverse talent, and boost business performance, as seen in examples like reshaping talent acquisition strategies to focus on diverse talent.
HR INSIGHTS
Chief Human Resource Officers (CHROs) are called to align human capital strategy with business strategy, emphasizing diversity and inclusion to drive growth and foster an engaging employee experience. Despite progress, there is room for HR to become a strategic partner, as much of HR's time is still spent on administrative tasks rather than strategic talent priorities. Key imperatives for HR leaders include developing HR business partner capabilities, adapting HR operations for hybrid working, enhancing Centre of Excellence (CoEs), and restructuring HR teams for agility and effectiveness. HR is expected to evolve its operating models to enhance employee engagement, deliver a seamless employee experience in a hybrid workforce, and strike a balance between driving business performance and focusing on the employee experience.
Despite efforts to tackle racism and discrimination in the workplace, recent reports show that prejudice and discrimination are still prevalent, with a third of young people from minority ethnic backgrounds experiencing racist remarks or behaviour at work. Issues of racism in organizations are often handled through traditional disciplinary processes, which can lead to further division and stress among employees, without offering a clear and objective decision-making method. Some organizations, like the BBC and Aviva, are adopting restorative solutions such as mediation and facilitated conversations to address racism and discrimination in a more transparent and accountable manner. To effectively combat racism and discrimination, businesses need to prioritize creating spaces for open and honest dialogue, providing feedback mechanisms for employees going through formal processes, and equipping managers with the skills to facilitate meaningful conversations within their teams.
LEADERSHIP & TALENT MANAGEMENT
A report from the Association for Talent Development reveals that over 90% of organizations use learning assessments to measure the effectiveness of their training programs. Assessments include various methods such as knowledge assessments, performance of skills, and analysis of work results to gauge participants' knowledge, skills, and achievement of training objectives. While 74% of talent development professionals believe performance assessments effectively measure learning outcomes, only 58% find test assessments to be effective, with common methods being single-select, multiple-choice, or true/false questions. Learning assessments are crucial for foundational skills and compliance training, with organizations allowing employees who fail assessments to retake the training or assessment to improve learning outcomes.
Jamie Harrison, VP of human resources at Taco Bell, is focused on perfecting the team member experience for over 260,000 employees, drawing on her three-decade career that started as a frontline worker. Taco Bell emphasizes nurturing talent through initiatives like the internal incubator program, encouraging employees at all levels to contribute creatively to solve business challenges. The Bell Bravo peer-to-peer recognition program enhances the customer experience by empowering team members and fostering a sense of connection and value within the workforce. Taco Bell's commitment to employee development is demonstrated through programs like the Live Más Scholarship and the relaunch of 'The Leap,' aiming to retain employees and provide leadership development opportunities.
RECRUITING & RETENTION
The workforce is experiencing a shift as baby boomers, the largest generation in U.S. history, retire, while the number of new workers entering the workforce remains stagnant, creating an unbalanced worker replacement rate. Factors like declining birth rates, longer life expectancy, and financial concerns are leading many baby boomers to delay retirement, making them valuable assets for employers. Contrary to stereotypes, baby boomers are adapting to digital technologies, and employers are encouraged to establish knowledge transfer processes to retain their expertise. Employers are advised to implement mentorship programs, provide historical knowledge training, and offer flexible work arrangements to leverage the skills and experience of baby boomers, especially with 11,000 baby boomers reaching retirement age daily.
A study by job platform Indeed reveals that nearly 3% of advertised roles in the UK do not require English proficiency, showing a growing trend among employers to attract foreign workers, especially in lower-paid sectors like cleaning, driving, and beauty. Compared to other European nations, the UK lags behind in offering job flexibility without the need for the national language, with countries like the Netherlands, Spain, Italy, and France leading in this aspect. Experts suggest that while flexible language requirements can help in attracting lower-skilled workers, visa sponsorships play a crucial role in recruiting foreign talent for higher-paid roles, despite being underutilized in job postings. Advancements in AI and language flexibility are seen as potential solutions to the skills gap, with tools like Google Translate enabling real-time translation and offering opportunities for businesses to access essential skills through migrant workers.
LABOUR MARKET INSIGHTS
A study revealed that 49% of graduates would not consider jobs requiring them to be in the office five days a week, with 83% citing commuting time and costs as a top concern. Flexible working is increasingly becoming an expectation rather than a perk for new graduates, with hybrid working seen as a standard norm following the pandemic. Employers are advised to take these preferences seriously to attract top talent, as 74% of graduates prioritize competitive salary but 62% consider hybrid working the most important factor. While in-person office time is valued for effective teamwork, graduates appreciate the trust and flexibility provided by hybrid working, which allows for better focus and work-life balance.
A new study revealed that over 40% of HR specialists now consider finding candidates with the right skills as one of their major challenges. The UK is struggling to attract skilled foreign workers, while also facing issues with apprenticeship reforms and persistent skills shortages. Recruitment processes have become prolonged, leading to delays in filling permanent roles and causing companies to miss out on top talent. Flexible work arrangements, salary mismatches, and the need for a strong employer brand are highlighted as crucial factors influencing recruitment efforts.
The U.S. is expected to face a labour shortage of 6 million workers by 2032, according to a study by Lightcast. This shortfall is attributed to several factors, including retirements, a mismatch between worker skills and available jobs, and declining workforce participation, particularly among men. The study highlights that the projected shortage will emerge despite population growth, posing a significant challenge for the labour market in the coming decade.
A new study reveals that 26% of UK workers attribute their job dissatisfaction to a lack of career progression, significantly higher than the global average of 18%, indicating a notable skills gap confidence challenge within the UK labour market. Initiatives like Skills England and apprenticeship system reforms aim to address the skills shortage issue in the UK, although employers still face recruitment challenges due to underinvestment in career and skills development programs over the years. Younger workers, especially women and professionals aged 25 to 34, are particularly concerned about career advancement, with AI integration in the workplace adding to anxieties about job security and future roles. UK workers are increasingly valuing interpersonal skills over management skills, emphasizing the need for long-term investment in skills development to remain competitive, retain employees, and drive organizational success.
🔔Career Reflection - How to Break the Habit of Micromanaging
Micromanaging can be a difficult habit to break, but with the right strategies, you can shift from hovering to empowering your team. Here are key steps to help combat micromanaging tendencies:
Instead of constantly checking in on projects, schedule regular updates. This allows you to stay informed without hovering over your team.
Remember, you hired your team for their skills and knowledge. Give them the autonomy to use their expertise and solve problems.
Define what you need from your team, provide the necessary support and resources, and then step back. Trust them to deliver.
Delegating tasks, even if it feels uncomfortable at first, can lead to greater success. By empowering your team to take on responsibilities, you reduce your need to control every detail.
By embracing delegation and trusting your team, you'll not only reduce stress but also foster an environment where your team thrives.
QUOTE OF THE WEEK
"Burnout occurs when you care about something and yet feel unable to make a meaningful impact."– Adam Grant, psychologist and author.