What We’re Reading: New Skills, Talent and Employment
Corporate Learning and Development News
Mckinsey Quarterly reports that as AI-driven automation advances, organizations should embrace “lifelong employability”-- a notion which stretches traditional learning and development to inspire workers to adapt more frequently to the evolving economy.
Recognizing that measuring an ROI on training remains a top challenge for leaders, learning professionals can enhance their professional development by gaining better consulting skills and becoming an expert in the development of learning metrics.
A piece in Chief Learning Officer highlights the growing importance of AI among L&D leaders as an important technology to promote learning and behavior change in people.
Ford launched a new stretch program which is aimed at reducing role stagnation. Similar to Google’s 20% time, the program creates career advancement strategies by allowing top employees to spend approximately one day a week working on different projects with different teams.
Credentials, Hiring, and Applicant Tracking News
HR Dive reports that the energy sector may be facing a ‘talent emergency’. According to Airswift’s Global Energy Talent Index almost half of oil and gas professionals have expressed concern about a lack of incoming talent.
Recently, an EY report found that Millennials are finding it harder to balance work and life as more of them move into management positions and work longer/harder, while also increasingly balancing parenthood and their job.
A piece in Forbes shares 3 ways to that companies can keep up with Millennial talents’ dynamic lifestyles: strengthening understanding, connecting through social media, and supporting their side hustles.
According to the Everest Group, 2019 will hold significant growth for the Multi-Process HR Outsourcing (MPHRO) market-- an HR model which combines tech tools and concepts (i.e. analytics, automation, and cloud)-- with 6-8% annual growth and the expectation that the market will exceed the $5 billion mark by 2020.
Future of Work and General HR News
Forbes shares insights from the 2019 World Economic Forum about the future of work. Major takeaways from Davos include: acknowledging the need for upskilling and reskilling, addressing the gender gap in tech jobs, making flexible work schedules the norm, and inclusive education.
Gartner Inc., predicts that by 2021, a shift in digital transformative initiatives will be jump started by culture changes in which CIOs take on the same responsibilities as Chief HR Officers. They say the ‘culture hack’ strategy-- using vulnerable points in an organization’s culture and transforming them to sustainable change-- is where to start.
A piece in the New York Times investigates the phenomenon of girls beating boys at school but falling short in the office. The piece argues that the high-effort approach girls perfect in their school years may fail to teach them the confidence needed to thrive in the workplace.
Unam Group, an insurance company, announced that starting next year they will allow employees to forgo some of their sick days in exchange for funds toward repaying their student loans.
Employer Partnerships/Company Innovation
The Siemens Foundation, a nonprofit focused on sustaining the STEM workforce, is investing $1.6 billion in a new training program in an effort to narrow the opportunity gap for employees in STEM careers.
The Bill and Melinda Gates Foundation recently decided to modify their paid parental leave program from one year to 6 months of paid leave with the opportunity of a $20,000 taxable stipend to help with child costs and family needs.
According to TechCrunch, Google is introducing its G-suite recruitment management platform, Hire, to the UK and Canada, marking its first international launches outside of the US.
PageUp, a talent management software-as-a-service provider and PredictiveHire, a machine learning startup, recently partnered to accelerate and reduce the amount of bias in the recruitment process for Australian businesses.
Startups, Innovation, and Investment News
HR Technologist highlights K1 Investment Management’s announcement about their $200 million majority investment in Jobvite-- a recruiting software-- as well as a merger with three additional recruiting companies.
HR Dive highlights the $11 billion purchase of Ultimate Software Group Inc., a cloud-based human resource solutions developer, by an investment group that included Hellman & Friedman and Blackstone Group, among others.
A piece in Trade Arabia reports Investcorp -- a Bahrain-based investment firm--has obtained a controlling stake in Revature -- a US-based talent development firm. Revature’s coding immersion programs aim to address the technology skills gap.
EdCast broadens its learning offerings by acquiring Leapest-- an online marketplace for corporate training with 5,000 learning tools and a commitment to high-tech upskilling-- to enhance their knowledge management assets.
Macroeconomic Trends and Public Policy
Mayor Muriel Bowser and DC Attorney General Karl A. Racine announced a $6 million investment in the District’s workforce development and violence prevention initiative. This investment will support #SaferStrongerDC by expanding employment opportunities for DC residents and reinforcing violence interruption programs.
In her first State of the State address, Governor Gretchen Whitmer (D-MI) set a 2030 statewide goal of increasing higher education for Michigan adults by 60%, and proposed the Michigan Reconnect program to increase access to technical retraining for adults looking to increase their earning potential.
Rep. Glen Thompson (R-Pa) called the skills gap a “tremendous risk”, noting that as the U.S. economy continues to grow, further expansion and investment in workforce education and training is needed.
USA Today highlights the Leader Dogs for the Blind's executive training program, in which dogs help teach skills (e.g. teamwork, communication, strategic planning etc.) to help higher-ups become better bosses.
Researchers suggest that using a phrase besides ‘Thank You’ to express gratitude may increase work productivity, in turn strengthening relationships, reducing stress, and creating lasting positive experiences.