This week, there has been a lot of variety when it comes to employment news. The jobs report was released, Netflix goes to the extreme with its parental leave policy, and much more in this week's Talent and HR News Weekly Roundup.
1) US Economy Added 215,000 Jobs in July; Unemployment Still 5.3% from The New York Times
"The American economy added 215,000 jobs in July, a respectable gain that could raise the comfort level of policy makers at the Federal Reserve as they consider the timing of their long-awaited move to raise interest rates. Although slower than the blockbuster pace of hiring in late 2014, the average monthly payroll gain in the first half of 2015 stood at more than 200,000 and the report from the Labor Department on Friday showed employers to be consistent last month. The unemployment rate held steady, after a decrease to 5.3 percent in June, the lowest level in more than seven years. Before the report, economists on Wall Street had been predicting a gain of 225,000 jobs, with no change in the unemployment rate."
2) Career Path Enablement Is Key In The Human Age from Forbes
"In that deflating moment when the star employee you painstakingly mentored tells you that despite much admiration and gratitude she’s leaving for something better, it’s easy to react emotionally and to blame others—those disloyal millennials, can’t believe the competition poaches like that—but you can only reduce turnover in the future by accepting “blame” yourself. Loyalty is a two-way street. After the warm goodbyes and mental expletives, it is worth taking a hard look at whether the value your company offers employees still aligns what they (especially high potentials) are looking for. According to a new report from Right Management, Fulfilling Careers Instead of Filling Jobs: How Successful Companies Are Winning The Competition For Talent In The Human Age, two-thirds of the factors that motivate performance at work are tied to career conversations and development opportunities."
3) Netflix to offer paid 'unlimited' parental leave from USA Today
"Netflix announced an update to its parental leave policy that will grant unlimited leave to both mothers and fathers with full pay within the first year after their child's birth or adoption. In a statement released Tuesday, Netflix says employees can take as much time within the first year as they choose, earning their normal pay during leave. "We want employees to have the flexibility and confidence to balance the needs of their growing families without worrying about work or finances," said Tawni Cranz, Netflix's Chief Talent Officer, in a statement. Employees will be able to return part time or full time during that first year, and are able to leave again if necessary."
4) Tough Love Performance Reviews, in 10 Minutes from Harvard Business Review
"There’s growing evidence that conventional performance reviews are not working. According to a CEB analysis, organizations can only improve employee performance 3% to 5% using standard performance management approaches. Last fall, 53% of human resources professionals in a Society for Human Resource Management study gave a grade between B to C+ when rating how their organization managed performance reviews. Only 2% gave an A to their organization. As a result of findings like these, some companies are doing away with annual performance reviews altogether."
5) The Most Meaningful Jobs That Pay Well from Forbes
"To determine which jobs provide healthy salaries alongside a sense of purpose, compensation data site PayScale asked workers in 453 jobs from the Occupational Information Network (O*NET) to provide compensation data and determine whether their work makes the world a better place. While many jobs from which respondents take great meaning are among the lowest paid occupations, a handful of professions deliver salaries in the high five- and six-figures and a sense of contribution. The annual pay referenced here includes salary or hourly wage as well as bonuses, profit sharing, tips, commissions, and other cash earnings, but excludes equity, retirement benefits, and non-cash benefits."
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.