Here are the top news stories in talent & organization from this week.
Employee retention as a science
“Thanks to the deep insights now available to the supervisors and HR managers in a timely fashion, employee retention is no longer a matter of chance but can become a science supported by algorithms of possibilities”, writes Uma Ganesh in this Financial Express article. As organizations struggle to find the right people and retain them, AI and cognitive computing have the potential to guide managers to understand employee motivation and their aspirations better than ever before, according to the article. “AI could help unravel the informal networks and connectedness employees have within the organization, highlight the potential risks, identify those who may be dissatisfied with work or with people they work with and their strong preferences and reservations with some of the policies of the organization—all of which could determine the probability of employees staying on or otherwise,” Ganesh writes.
Inspire millennials with sustainability efforts
In this Forbes BrandVoice blog post, Chuck Leddy argues that organizations focusing on sustainability have a better chance of attracting and retaining younger employees. He outlines four steps to inspire and engage them: 1. Make your business operations sustainable with programs that reduce waste and save resources. 2. Start spreading the news by sharing stories on social media and through traditional media outlets. 3. Offer a sense of mission and meaning by articulating your company’s positive impact on the community and the world. 4. Promote volunteering with nonprofits and offer personalized volunteer time-off days for charities of their choice. “When you show your employees and customers that you care about sustainability, they’re likely to reciprocate by giving you their loyalty,” Leddy writes. “While caring about people and planet might seem like something that lies outside your core business, it may actually be the quickest way to build a community of employees and customers who care about sustaining you as a business.”
Business schools look to attract more women to finance
According to the Financial Times, despite years of efforts from leaders in financial services, the industry is still having a hard time shedding its “pale, male and stale,” reputation. The article notes women account for less than a quarter of the senior staff at 25 of the world’s largest banks and hold only a fifth of executive committee roles at 50 U.S. financial services companies. “Many of the world’s most influential business schools, have also recognized that gender imbalance among students may have contributed to the problem,” the FT reports. “But they also realize they can play a role addressing it.” While the number of scholarships aimed at female MBA participants has increased over the last decade, progress on recruiting has been slow. The Robert H Smith School of Business in Maryland has set a gender-parity target for 2020 and has increased its female-candidate population from 36 percent in 2015 to 39.5 percent this year. London’s Imperial College Business School has gender equality as one of its 10 strategic priorities, and has seen the number of female MBAs rise to 44 percent in four years.
Three HR tech trends to watch
This TalentCulture blog acknowledges the recent proliferation of HR tech tools in the marketplace and flags three hot trends worthy of following: 1. Better people analytics to target HR communications more effectively, as well as to identify high-potential employees and what they want from employers. 2. Employee self-service (EES) tools that enable employees to complete basic HR tasks on their own from their mobile devices. 3. Social collaboration tools such as chat rooms, instant messaging and video communication to streamline onboarding and give employees a sense of community. “Growth-minded companies are empowering their people with new tools to solicit and provide real-time feedback, build success recognition into the fabric of the culture and ensure that both managers and employees have the resources they need to innovate, grow and perform at their best,” Rajeev Behera, founder of Reflektive told TalentCulture.
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