Other parts of this series:
- Underinsured Gig Workers, AI and the Future of Work - Talent & Organization Weekly News Update
- Equal Pay Day 2018, The World’s Top Cities in Talent & Agility – Talent & Organization Weekly News Update
- Rewarding Millennial Employees, Closing the Digital Skills Gap in Banks – Talent & Organization Weekly News Update
- The Case for Spending More on Talent, Preparing the Workforce for the Future – Talent & Organization Weekly News Update
Here are the top news stories in talent & organization from this week.
Equal Pay Day 2018
Equal Pay Day symbolizes the date until which women must work full-time to earn the same amount that men earned the year before. This year, Equal Pay Day is April 10, meaning women would have had to work an extra 99 days to match what men earned by the end of 2017. In this Forbes blog post, Tanya Tarr looks into a new report by PayScale, a cloud compensation software company, for solutions to close the gender pay gap. “The persistence of the overall gender gap remains a concern and might be due to two structural factors: fewer women in leadership positions, and breaks in employment due to primary caretaking responsibilities,” she writes. The PayScale report found that women aren’t moving up the leadership ladder at the same rate that men do. Men are 70 percent more likely to be in C-suite roles in their mid-career and 142 percent more likely to be in leadership roles in the later part of their career. PayScale’s report also found that women are more likely to take longer breaks from the workforce to take care of children or other family members. The report suggests organizations should address gender issues directly; audit pay practices; examine the gender ratio of leadership positions; and be transparent about equal pay policies.
New report ranks top global cities in talent and agility
According to JLL’s City Momentum Index 2018: Agility, Talent and Technology report, San Francisco is the top global city for future proofing. “The future-proofing potential is potential founded in factors such as innovation capability, talent and world-class higher education; high levels of technology start-ups and scale-ups; patent applications; public infrastructure; and the quality of the environment,” writes Jody Bahranovic for IREI.com. The top 10 cities in descending order are: San Francisco, Silicon Valley, New York, London, Boston, Los Angeles, Paris, Amsterdam, Toronto and San Diego. “By investing in and leveraging their strengths in technology, physical and digital connectivity, quality of life and sustainability, they are positioned to maintain their performance into the future in this competitive landscape,” the report says of the top-ranked cities.
Careers, not jobs, attract best candidates
This WilsonHCG blog post outlines how organizations can find new ways to engage, attract and ultimately keep talent with a modern mindset. 1. Share purpose, show impact: Today’s professionals want to know how their role matters to the greater business and that the company’s values and purpose align with theirs. 2. Invite talent to learn and develop: Communicate why and how you invest in employees’ development throughout the whole interview process. 3. Harness employee engagement: Inform, inspire and involve employees, so they want to support and advance the company brand. “There is a direct correlation between strategic talent acquisition, employer branding investments and greater revenue,” the article notes. “Industry leaders are offering and adeptly marketing careers that matter; careers that are flexible, full of long-term growth and opportunity, and show talent their business impact.”
Why top employees quit
“The war for talent is a real one, and when a superstar leaves it can be very difficult to recover. Giving out free food and putting ping pong tables in an office are not enough to retain your best talent, much less any talent,” argues Betty Liu in this Inc. blog post. Among the top reasons for valued employees leaving are lack of challenges, lack of real engagement and surrounding high performers with low performers, according to Liu. “Some of the best talent simply want to do challenging, engaging work that expands their horizons. For those who do want to keep rising up the ladder, let them know what the next steps are,” she writes. When it comes to employee engagement, she recommends going beyond recognition: “Engagement means being truly invested in someone’s work and career, even if it means you’re giving them critical feedback.” Sometimes, Liu says, when employees leave it has nothing to do with the employer or the corporate culture. “It’s called the mid-life crisis and this happens almost to everyone. In that case, you buy those folks a bottle of champagne and wish for them a happy new life. You can only keep people for so long until you let them go.”
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