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On April 23, 2020, US weekly jobless claims hit 4.4 million, the highest since 2009. Not only has involuntary job loss effected millions worldwide, it is also top of mind for those still working.
So what do these numbers mean to individuals still employed, and how will it affect worker confidence in the near and distant future? The Worker Confidence Index report, sponsored by Yoh, for First Quarter 2020 touches on this subject and more.
In the US, the impact of COVID-19 was not predominant until early March, so this content shows the shift in confidence from both before and amidst the height of the pandemic.
While marijuana is illegal under federal law, many states have followed cultural shifts and recent legislation by legalizing it for medicinal use, recreational use, or both. This has left employer drug tests harder to administer than before in these states. Yet even in some states where it is legal, the law can compel certain types of employers to take action to ensure their workplaces are drug-free.
With employer drug tests have become even harder to administer than in the past, due to virtually full employment. A total of 33 states now have comprehensive medical marijuana programs. 11 states plus the District of Columbia, have legalized the stuff for recreational usage. Employers have every reason to expect more marijuana legislation to pass in the near future.
How can workforces be managed with the rising use of legalized marijuana? Learn more by downloading the whitepaper here.
The rate of new technologies being developed and companies providing them continues to grow dramatically. In order to track the innovation being introduced, Alexander Mann Solutions, a global provider of talent acquisition and management services, has partnered with HRO Today Magazine to produce quarterly reports that summarize activity in HR technology advancements and funding initiatives.
In the fourth quarter of 2019, we saw an increase in the number of announcements and funding for advancing technologies to support human resources. In total, there were 91 major announcements, up from 56 announced in the fourth quarter of 2018.
Further, this report contains an enlightening Q&A discussion with Jane Clark, Head of Emerging Talent Consulting. Alexander Mann Solutions. Topics covered include questions about the biggest challenges in TA, how technology addresses those challenges and what digital options there are to keep the graduate cycle moving as organizations face the impact of COVID-19.
With Barry Morris, CEO, CapRelo
HRO Today: In recent blog posts you’ve discussed the importance of Employee Experience (EX). Why now?
Morris: With the battle over talent being more critical, EX is a crucial driver of HR value. Onboarding new employees is expensive while keeping existing employees is more cost effective. I have found that many global mobility groups see EX as a critical indicator of the ability to attract and retain top talent.
With Alex Alaminos, CEO, Madison
Recognition programs have become a gateway to employee productivity, loyalty, engagement and retention. In fact, according to Deloitte, organizations with employee recognition programs have 31 percent less voluntary turnover. As HR considers a first- or second-generation rewards programs, a main consideration for executives should be the financial structure. Here Alex Alaminos, CEO of Madison, explains the key differences between billing on issuance and billing on redemption and the considerations for approach depending on organizational goals.
Tech-enabled, e-interviewing and candidate-care ‘bot creates seamless, effective experience for hiring managers and candidates alike.
With Jeanne MacDonald, President, Global RPO Solutions, Korn Ferry
High-volume recruiting and hiring. In the past, the process was often costly, time consuming and ineffective, as finding the right candidates who would not only take the job – but stay – was difficult.
With Tim Oyer, Vice President of Sales, Advanced RPO
Small and medium-sized businesses (SMBs) with 15,000 employees and less are the engine of the U.S. economy, but in a tight talent market, many are struggling to hire and retain top-performing employees. A recent study from LinkedIn found that the majority of SMBs (84 percent) struggle to find enough people to interview and hire for open positions. Seventy-three percent are challenged by competing with better-known companies for talent, and 75 percent are unsure if candidates will succeed in the role, even after the interview.
In this interview, Tim Oyer, vice president of sales at Advanced RPO, shares some insights that mid-sized organizations can leverage to improve their hiring outcomes in a competitive marketplace.
The bswift Leadership Team takes a closer look at market trends that further underscore the need for this transformative employee experience.
Trend #1: One-stop shop benefits experience
Sanjiv Anand, President and Chief Executive Officer at bswift
The global economy has continued to decelerate, stemming from global trade and weak investment growth, which impacted nearly every region of the world.
However, the global labor market remains tight with around half (27 of the 49) countries analyzed in this report showing levels of 5.0 percent or less, which is considered by many economists as at or near full employment.
In the United States, stocks had a remarkable year in 2019, recording the largest yearly gain since 2013. Both the S&P 500 and the Dow Jones Industrials increased by 28.9 percent and 22.3 percent, respectively.
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