What We're Reading: New Skills, Talent and Employment Edition

Highlights

A recent study from Mercer identifies 5 workforce trends for 2018: preparing for job displacement, instilling a sense of purpose, enabling more flexibility, adopting a new talent platform mentality, and evolving into digital organizations.
 
A new study from Snag, an hourly workforce platform, found that 38% of employees earning $20 or less an hour consider themselves underemployed. 80% of underemployed workers are willing to work multiple jobs to get the hours they need; though 74 percent would prefer to work a single full-time job.
 
According to an Indeed database, tech-related skills attract the strongest employer interest. Some of the most in-demand occupations gaining popularity with recruiters include software engineer, buyer planner, editor, and developer.
 
A survey conducted in partnership with Culture Amp, on their employees revealed the best predictor of churn in a company to be when people strongly disagreed with the statement, “I see myself still working at [Company] in two years time.” Other predictors depended on length of tenure, age of employee, and job function.
 
New Jersey Governor Phil Murphy signed historic equal pay legislation called The Diane B. Allen Equal Pay Act . The legislation, which takes effect July 1, 2018, will prohibit employers from paying members of protected classes rates of compensation, less than those in unprotected classes for similar work.
 
The Keystone School from K12 Inc, launched Keystone Career Connect, a career education program for adults 19 and older who have a high school diploma or GED, or who are a part of the Keystone adult learner high school completion program. The program, which can be completed in 12 months, but is flexible on either end, will offer an Information and Support Services pathway, a Medical Billing and Coding pathway, and others. Such post-secondary education will be required by 65 percent of all jobs in the U.S. by 2020, per a Georgetown University prediction.

 
Corporate Learning and Development News
 
Low unemployment rates and the rise of the gig economy are forcing companies to offer education benefits that attract talent and develop workers, according to Talent Economy. In providing workers with learning opportunities, companies offering education benefits are seeing increased retention rates, greater engagement, and proactive skill development, benefiting all parties involved.
 
A recent study from Mercer identifies 5 workforce trends for 2018: preparing for job displacement, instilling a sense of purpose, enabling more flexibility, adopting a new talent platform mentality, and evolving into digital organizations.
 
Times Higher Education hypothesizes that workers in the 21st century will need to upskill multiple times, and Mooc platforms provide the relevant expertise. Employers who have as much confidence in Moocs as they do in master’s degrees and figure out a framework in which to combine the two - Micromasters - are the ones that will come to define L&D. (Times Higher Education, subscription required)
 
The Adecco Group’s recent acquisition of General Assembly signals a growing focus on building a global classroom-to-career pipeline, according to Forbes.

 
Credentials, Hiring, and Applicant Tracking News
 
A new study found that 38% of employees earning $20 or less an hour consider themselves underemployed. 80% of underemployed workers are willing to work multiple jobs to get the hours they need; though 74 percent would prefer to work a single full-time job.
 
According to an Indeed database, tech-related skills attract the strongest employer interest. Some of the most in-demand occupations gaining popularity with recruiters include software engineer, buyer planner, editor, and developer.
 
A survey conducted by more than 120 companies, in partnership with Culture Amp, on their employees revealed the best predictor of churn in a company to be when people strongly disagreed with the statement, “I see myself still working at [Company] in two years time.” Other predictors depended on length of tenure, age of employee, and job function.
 
According to SHRMaccommodating millennials is a business imperative. A company’s “people first” strategy that prioritizes work-life balance, team connection and effective communication helps retain current employees while attracting new, younger ones. (SHRM, subscription required)
 
A new study revealed that graduates are no longer basing their job decisions on company benefits but instead on career-minded paths. 58% of millennials noted that perceived career advancement and type of work are the most important considerations when accepting a role.

 
General HR News
 
New Jersey Governor Phil Murphy signed historic equal pay legislation called The Diane B. Allen Equal Pay Act. The legislation, which takes effect July 1, 2018, will prohibit employers from paying members of protected classes rates of compensation, less than those in unprotected classes for similar work.
 
New research finds that large business firms are less racially integrated than expected. Researchers suggest these findings are a result of firm turnover – new businesses tend to enter the market with all-white, all-black, or all-Hispanic teams of workers, while older businesses which tend to be more diverse are shrinking or closing.
 
As more corporate boards are being intentional about diversity and inclusion, HR Dive shares some best practices on improving diversity recruiting efforts for the entire workplace.
 
TechTarget compares the increasing market for video interview platforms and the benefits such as data analytics, with the simplicity and convenience of the basic video platforms such as FaceTime, Skype and the likes.
 
The Wall Street Journal profiles Butterfly, a management platform embedded into workplace messaging systems, that uses AI to provide coaching to help managers create a more accommodating work environment. In response to workers feedback entered by the manager, Butterfly pulls from resources such as Linkedin Learning to give advice on how the manager can respond most effectively. (The Wall Street Journal, subscription required)
 

Employer Partnerships/Company Innovation
 
Disney World announced plans to increase hiring bonuses for the more than 3,000 full-time and part-time workers that the company plans to hire starting this summer. Housekeepers get a hiring bonus of $1,250 dollars -- a 250% increase from last year’s bonus, and culinary chefs may receive up to $3,000. Bonuses will be paid after completion of training and 30 days on the job.
 
The Keystone School from K12 Inc, launched Keystone Career Connect, a career education program for adults 19 and older who have a high school diploma or GED, or who are a part of the Keystone adult learner high school completion program. The program, which can be completed in 12 months, but is flexible on either end, will offer an Information and Support Services pathway, a Medical Billing and Coding pathway, and others. Such post-secondary education will be required by 65 percent of all jobs in the U.S. by 2020, per a Georgetown University prediction.

 
Startups, Innovation, and Investment News
 
iSolved, a human capital management platform, announced plans to incorporate a learning management system (LMS) which it is calling iSolved Learn. The LMS will allow users to develop their own learning content specifically tailored to the organization’s needs. With the addition of the LMS, iSolved will offer a comprehensive learning solution to its existing payroll and HR platform.
 
QuizRR, an innovative edtech program focused on offering training for corporate social responsibility, raised $1.3 million in a financing round led by Norrsken Founders Fund and Working Capital.

 
Macroeconomic Trends and Public Policy
 
According to U.S. Department of Labor, in the first quarter of this year (from January to March) employee compensation increased 2.7%. Additionally, overall wages rose 0.9% from the quarter before. Benefits also saw an increase of 0.7% over the 4th quarter. (The Wall Street Journal, subscription required)
 
California Supreme Court issued a ruling that companies are no longer allowed to classify workers as contractors without proving that the employees are running their own businesses, a major step for gig economy workers. The ruling, however, does not address payment of work expenses, workers’ compensation or unemployment benefits. (The San Francisco Chronicle, subscription required)

 
Other
 
Forbes contributor offers advice on how companies can develop a culture of innovators in the workplace.
 
A handful of nations have updated school curricula and teacher training for automation changes in the workforce, and the United States lags behind other wealthy nations in ninth place.
 
According to the Hechinger Report, students will need stronger backgrounds in computational thinking, artificial intelligence techniques and robotics, but there has been very little change in education policy to accommodate for these demands.