What We’re Reading: New Skills, Talent and Employment

Highlights
This week, Paychex announced plans to launch a learning management system (LMS) as a part of their offerings after releasing a report highlighting the challenge of HR leaders in hiring quality candidates released earlier in the year.
 
New research from Gartner, Inc. reveals that just 20% of employees have the skills necessary for both current and future roles.
 
A new report from Korn Ferry found that 42% of HR leaders plan to hire more gig workers in the next three years. Additionally, 46% of these leaders said that they cut costs by hiring gig workers.
 
Upwork, a community of nearly 375,000 freelancers, announced plans to go public.  They have not yet released many details about the IPO, but plan to list their stock on Nasdaq under the ticker symbol “UPWK”.
 
SHRM CEO Johnny C Taylor announced plans to elevate the conversation about improving the workplace – particularly focused on key issues like the skills gap, immigration, and workplace harassment. The organization, along with executives from Hershey, John Deere, and Booz Allen Hamilton, will engage in a three-part series where they will share a variety of resources from the HR perspective.
 
According to the latest jobs report, while unemployment remained level at 3.9% – still the lowest in decades – the month of August saw an increase of 201,000 in jobs for the 95th month in a row. (The Washington Post, subscription required)
  
Corporate Learning and Development News
New research from Gartner, Inc. reveals that just 20% of employees have the skills necessary for both current and future roles. Further, 64% of HR managers are not confident that their employees can keep pace with the development of these future skills. Researchers suggest that a connected learner strategy – determining future skills necessary, helping increase understanding of employment development opportunities, and providing effective learning solutions – rather than a continuous learning strategy is the best solution to ensuring learners can develop future skills.
 
Referencing the recently released report from LinkedIn which identifies “Career Sleepwalkers”, HR Dive suggests that helping employees map their careersand futures can make employees more engaged – even if the newly-mapped trajectory means they do not remain in the same role or even workplace.
 
A piece in SHRM’s HR People and Strategy Blog suggests that well-plannedonboarding that includes strategies such as the use of technology, assigning a person to help the new employee, and incorporation of workplace culture among other things can have a lasting impact on retention.
 
A contributor to Harvard Business Review encourages L&D leaders to create an environment where learning becomes a part of their employee’s daily responsibilities. He suggests acting as a role model, using failure as an opportunity for growth, and creating a space where undivided attention can be focused on learning when learning is taking place. (Harvard Business Review, subscription required)
 
Credentials, Hiring, and Applicant Tracking News
A new report from Korn Ferry found that 42% of HR leaders plan to hire more gig workers in the next three years. Additionally, 46% of these leaders said that they cut costs by hiring gig workers.
 
A new report from Wakefield Research found that while 70% of employees agree that transferring to an open position elsewhere within the company would improve their opportunity, 22% of employees have left a company after being denied an opportunity to transfer.
 
A piece in EdSurge proposes that strengthening diversity and inclusioninitiatives requires a reevaluation of the hiring and recruitment process, an investment into resources and personnel focused on these initiatives, and a commitment to not only building a diverse candidate pool but also considering the adjustments that can be made within the existing work environment. 
 
An analysis of data from iCIMS found that hiring increased by 2% in August 2018, however job openings increased by 11%. Openings were most prevalent in manufacturing jobs – a field impacted greatly by automation. Hiring increases were mostly in the education and healthcare fields.
 
ADP recently launched the Executive and Manager Insights feature within their ADP Mobile Solutions app, which will offer recommendations to organizational leaders around employee management and retention. The program will use artificial intelligence and machine learning to highlight trends and provide guidance for executives.
 
General HR News
HR Dive profiles Google, Amazon, and IBM’s efforts to use artificial intelligenceto enhance the role of HR professionals.
 
survey of 800 HR leaders from Randstad Sourceright finds that 60% of these leaders believe that parts of the hiring process should be automated. Further, 82% of those surveyed believe that a benefit to automated processes is the ability to focus on interpersonal tasks.
 
Employer Partnerships/Company Innovation
This week, Paychex announced plans to launch a learning management system (LMS) as a part of their offerings after releasing a report highlighting the challenge of HR leaders in hiring quality candidates released earlier in the year. The LMS will be offered as a part of the existing Paychex Flex® program.
 
Fidelity Bank’s employee training program in partnership with Nichols College s yielding results, according to an article in Telegram. According to the writer, the program with an initial cohort of thirteen has been successful in helping varying levels of employees develop and improve their customer service and management skills. The program, which began in May 2017, focuses on a range of topics including situational management and effective communication.
 
SHRM’s CEO Johnny C Taylor announced plans to elevate the conversation about ways to improve the workplace – particularly in regards to key issues including the skills gap, business immigration, and workplace harassment. The organization, along with executives from Hershey, John Deere, and Booz Allen Hamilton, will engage in a three-part series where they will share a variety of resources from the HR perspective. (SHRM, subscription required)
 
Startups, Innovation, and Investment News
Upwork, a community of nearly 375,000 freelancers, announced plans to go public.  They have not yet released many details about the IPO, but plan to list their stock on Nasdaq under the ticker symbol “UPWK”.
 
Verzeo, an India-based workforce training start-up, raised $5 million in a Series A funding round. The company plans to use the funds to help with business growth and development.
 
Udacity, an online education provider, announced plans to go beyond the technology industry to expand the program offerings in India. While the company commonly offers programs to further develop the IT knowledge base, they will now consider helping to develop programs for non-tech companies such as banks.
 
Recruiter.com and universities.com announced plans to partner and increase access to professional advancement resources for adult learners. The partnership will target marketing to recruiter.com users to increase awareness of universities.com resources, particularly for those who want to improve career their options through schooling.
 
Macroeconomic Trends and Public Policy
According to the latest jobs report, while unemployment remained level at 3.9% – still the lowest in decades – the month of August saw an increase of 201,000 in jobs for the 95th month in a row. The Washington Post reports that there was an increase in both wages and hiring, suggesting that these record-breaking numbers are a result of the tight labor market, increasing competition for quality candidates for employers. (The Washington Post, subscription required)
 
A new research from The Brookings Institute finds that there has been an increase in employment over the past two years, from 4.3% in 2016 to 5.1% presently. Experts suggest that this may be correlated with the election, and could have a positive impact for Republican candidates around the country during the November primaries. They also suggest, however, that the increase in employment is likely temporary.
 
Other
Business Insider profiles Greyston Bakery, a company in New York that aims to hire 100% of the candidates who have applied through a process known as “open hiring”. The company does not ask for normal application requirements. Instead, they have candidates write their name on a list and call them when a position becomes available – first come first serve. CEO, Mike Brady who began in 2015 has continued the tradition, suggesting that this process creates an opportunity for those people who traditionally have a hard time finding work.