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.
New study finds gig workers are underinsured
According to a new study, gig-economy workers tend to be underinsured, underestimate their risks and are uneducated about how insurance applies to the work they do, Insurance Business Magazine reports. “With nearly 40 percent of the U.S. labor market now comprised of gig workers, the insurance industry is already very behind in satisfying the needs of this market,” says Christina Goldschmidt, Cake & Arrow’s VP of customer experience and design. “Our hope is that our case study and the prototype we designed will accelerate some of the thinking and innovation that is long overdue in the industry.” Gig-economy workers would be receptive to insurers selling plans via digital apps, the study found. The apps used by gig workers would collect personal information such as work hours, hourly rates, etc., which would be beneficial to insurers creating custom quotes.
Work-life balance improves for Singapore’s financial services
The balance between the professional and personal lives of Singapore’s financial services employees is improving, according to a new study by Robert Half. Staffing Industry Analysts outlined the main findings of the study: 68 percent of financial services CFOs in Singapore say the work-life balance of their employees has improved, compared to three years ago, while 29 percent say it has remained the same and only 3 percent say it has deteriorated. Financial services employers in Singapore are actively encouraging a healthy balance (97 percent) with initiatives such as flexible work hours, additional leave, on-site amenities for childcare and exercise. “Organizations who prioritize and actively promote work-life balance initiatives have a competitive edge in the war for talent as they frame themselves as an employer of choice,” says Matthieu Imbert-Bouchard, managing director of Robert Half. “Flexible working arrangements and working from home are great ways for companies to allow their staff to work productively around family and personal commitments.”
Fortune names “Best Companies in Finance and Insurance” in the U.S.
Speaking of work-life balance in the financial services industry, the editors of Fortune magazine compiled their annual list of companies that “keep their employees happy with perks, benefits, caring managers, unplugged time and more.” Here is the top 10 in finance and insurance, in descending order: Edward Jones, Veterans United Home Loans, Pinnacle Financial Partners, PrimeLending, Capital One, Progressive, Credit Acceptance, Navy Federal Credit Union, USAA and Quicken Loans. Employees of Edward Jones pointed to the company’s onboarding process, as well as the culture of sharing success stories, among the reasons for its being a great place to work. View the full list, complete with employee feedback, here.
AI and the Future of Work
In this Forbes BrandVoice blog, Rob Preston shares the top insights from Oracle HCM Dallas on the power and potential of artificial intelligence in HR. 1. The huge value of AI: AI applications can help recruiters identify and rank candidates that are most likely to fit in, stay and perform at the company by analyzing data shared by each applicant. 2. Don’t let AI get lost in in translation: Preston mentions how Accenture automated 17,000 jobs in the last three years without any layoffs. He quotes keynote speaker Jacob Morgan: “The organizations that are going to win are the organizations that are going to use AI to explore new opportunities, to augment humans, to help humans, not replace them.” 3. Old impressions die hard: Getting past the fear of AI is crucial to maximizing the performance of the younger generation. 4. Catch the wave before it wipes you out: AI, machine learning and other technologies are coming fast and companies need to catch up fast or die, Preston writes.
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