It's been a crazy week for the world economy. Something that employers can't ignore. And even with crises in Greece and China, the past few months for employment in the US have proven strong. This week's Talent and HR News Weekly Update features some of the employment news in the US as well as some other useful HR resources recently posted. Enjoy!
1) Small business hiring stays strong in June from Washington Post
"Small businesses added 120,000 jobs in June, which was a slight drop from the previous month but another strong showing from Main Street, according to the monthly report by payroll processing firm ADP. Nationwide, government data released Thursday showed that the economy added 223,000 jobs in June and the unemployment rate dropped to its lowest point in seven years, but analysts said the falling rate likely reflected an exodus of workers from the job market rather than strength in the economy. In contrast, small business hiring remains a bright spot , said Ahu Yildirmaz, head of the ADP Research Institute."
2) Job openings hit 14-year high in May from USA Today
"The number of job openings hit a new 14-year high in May, an encouraging signal for job growth in coming months. Employers advertised 5.4 million openings in May, up about 20,000 from April and the most since labor began tracking the figure in 2000, according to the Labor Department's Job Openings and Labor Turnover Survey (JOLTS). Opening rose in nearly all categories, but dipped in health care. The number of hires fell slightly to 5 million but remained near recent highs. Hiring increased in retail and leisure and hospitality, but fell in construction, manufacturing and professional and business services."
"Wellness programs have become fundamental features in the benefits plans of many major organizations, most notably Google, which offers employees on-site physicians and nurses, nutritious food options, nap pods and complementary fitness centers, among other perks. But these initiatives are not exclusive to the likes of Silicon Valley giants—more than two-thirds of U.S. employers offer them as part of their benefits packages, says a new report by the Society for Human Resource Management. The “2015 Employee Benefits” research report, released on June 29, found that 70% of U.S. employers currently offer a general wellness program, up from 58% in 2008, when SHRM first surveyed companies on preventive health and wellness benefits. An additional 8% of organizations have plans to offer a general wellness package in the next 12 months. Five-year trend data shows wellness programs are the only preventive health and wellness benefit offered by more employers in 2015 than in both 2014 and 2011. SHRM surveyed 463 HR professionals from 22 industries throughout the country."
4) Nestle Launches Global Maternity Protection Program from HRE Daily
"Besides its popular, branded products, employees at Nestle have something else to brag about – the company’s new maternity leave policy. The global food and beverage company recently announced that it is more than doubling paid and unpaid maternity leave for employees worldwide. For employees in its seven US operating companies, the benefit will kick in on Jan 1. The policy also applies to male employees and adoptive parents who serve as primary caregivers of their newborns following birth or adoption. The policy is based on revisions from the International Labour Organization’s Maternity Protection Convention, which offered minimum standards that will be implemented at all Nestle workplaces around the world by 2018."
"Putting the right team together is essential to running a business. You can’t completely avoid turnover, of course, but hiring the right people—and keeping them—undoubtedly saves time. The right people will constantly be learning. Eventually, they’ll be able to solve problems the way you would when you’re not around. But how do you find them? In my company’s early days, we ran into a lot of trouble trying to hire the right people. Not that we were hiring the wrong people, but we couldn’t seem to find the right ones. We posted on every popular online job board. Regardless of the position—SEO Specialists, Social Media professionals, etc.—we got very few applicants. We were lucky if ten people applied for one position."
6) High Performers and High-Potential Employees Are Not One in the Same from Entrepreneur
"High-potential talent (HiPo) are employees who have the ability and aspiration to be successful leaders within an organization. While it might make sense for a high-performing employee to also have high potential, that’s not always the case. An employee might be great at their job and take pride in their work and accomplishments, but may not have the potential (or desire) to assume a leadership role. Not being able to distinguish between performance and potential will make it difficult for employers to identify, develop and retain talent. All high potentials are high performers, but not all high performers are high potentials. Mistaking a high-performing employee for a high-potential employee can be costly."
Lexi Gordon is a Lead Consultant for exaqueo, a workforce consultancy that helps organizations build their cultures, employer brands and talent strategies. Contact exaqueo to learn more about how we can help you build a workforce that’s aligned with your company culture and develop an employer brand that will allow your business to scale and grow the right way.