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.
The spread of COVID-19, commonly referred to as the coronavirus, is an event that is increasingly becoming a public and workplace priority. Employers will be called on to take every possible action to protect workers while maintaining business operations. Here, you can find a roundup of up-to-date information on how businesses and HR leaders are handling the outbreak.
GENERAL INFORMATION FROM GOVERNMENT BODIES
- Global information and guidance on COVID-19 (World Health Organization)
- Coronavirus response in Europe (European Commission)
- Coronavirus response in the U.S. (CDC)
- Worldwide situation update (ECDC)
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- HRO Today Research
- Workforce Management
- Employee Engagement
- Risk and Compliance
- Employee Screening
In order to better understand how companies are managing their workforce in the wake of the worldwide pandemic, HRO Today is conducting a series of pulse surveys. These surveys will address a broad range of topics, from recruiting to workforce planning and operations.
SURVEY: COVID-19 HR Response Study Part 4
Before every hire comes a background screening report. And while we’ve become accustomed to this stage of the hiring process, it’s not often that we reflect on the benefits and standards of this sector of the industry as they pertain to our own organizations.
This report is your answer for an examination of the most important components and system capabilities of a background screening provider, as well as a look at overall satisfaction with background screening providers.
Download this report and learn:
With unemployment remaining at its lowest level in years, how are workers feeling when it comes to job stability? The quarterly Worker Confidence Index from HRO Today and Yoh measures the U.S. employment security directly from the perspective of employees.
Download this report to discover how the four components of the index – Possibility of Involuntary Job Loss, Likelihood of Promotion, Anticipation of a Raise of at Least 3 Percent, and Trust in Company Leadership – changed in the final quarter of 2019, and how it’ll continue to affect the remainder of 2020.
Here’s what you’ll learn:
When it comes to your recruitment strategy, one size does not fit all.
Today, recruitment teams must be able to engage all facets of the industry – but what factors must be considered before recruiting hourly versus salaried workers? And how can new employee views affect this?
Join us in examining the differences – and what this could mean for you – in our latest HRO Today Flash Report.
With Zain Wadee, Executive General Manager – Operations, Harrier Talent Solutions
What challenges does the future of work present for Australian employers?
The future of work is here. In Australia, significant developments in technology and automation across our largest industries are already creating new demands for talent and a re-think of internal talent development and mobility. As a talent partner, we are doing much more than sourcing external talent for our customers, we’re taking a holistic approach to talent acquisition and employer branding by ensuring that our customers are focused on internal skills development and alignment to future needs. It is critically important that we are creating new opportunities for those people whose roles are at risk of redundancy due to technology and automation. Retrenching employees and hiring in new talent is not a sustainable strategy from a talent attraction or brand perspective and has obvious moral implications.
With Jade Clifford, Executive Director of RPO EMEA, Allegis Global Solutions
From communicating with job seekers to onboarding new hires, technology has changed the entire HR landscape. Talent acquisition leaders are now able to leverage intelligent tools to do tasks such as conduct interviews on mobile phones, answer candidate inquiries via social media platforms, and even eliminate bias in the hiring process. The modern HR team has become a hybrid function where humans and machines work together in a seamless, efficient, and effective relationship. But enabling a corporate culture that welcomes these technological innovations and managing the change management process into the digital era can be challenging. Here, Jade Clifford, Executive Director of RPO EMEA at Allegis Global Solutions, shares her insights.
The global economy is projected to expand 2.6 percent in 2019, lower than in recent years due to global trade concerns between the U.S. and China, Brexit, and recessions in various European countries.
However, the global labor market remains tight with around half (25 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, about the same as Q2 2019 findings.
In the United States, stocks finished a volatile quarter up, marking the third straight positive quarter. Both the S&P 500 and the Dow Jones Industrials increased by 1.2 percent within the quarter.
In the third quarter of 2019, we see an increase in the Worker Confidence Index of 11.8 points over the second quarter, bringing the index to the highest level since the study’s inception. Three of the four indices that comprise the study reported higher results in the third quarter.
While the Job Security Index decreased by nearly 3 points from the second quarter to 101.5 points, this is still a high level of confidence. Females reported higher levels of confidence in their job security than males again in the third quarter of 2019, continuing the trend.
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