Facebook Unveils New Career-Development Portal
Recently Facebook unveiled a new career-development portal that will provide accessible, relevant content to entry-level job seekers. Read this blog post to learn more.
Facebook is jumping into the learning market in a big way, announcing the launch of Learn with Facebook at its New York offices yesterday, a big step toward the social-networking giant’s recently stated goal of equipping 1 million business owners in the U.S. with digital skills by 2020.
Learn with Facebook is a career-development portal that offers introductory, free-of-charge courses in both hard and soft skills. It’s aimed at people hoping to re-enter the workforce after a period of absence as well as those wishing to acquire skills that will help them compete for entry-level jobs in the digital economy, says Fatima Saliu, Facebook’s head of policy marketing.
“We’re facing a major skills gap in this country, and Learn with Facebook is our attempt to address that,” she says. Learn with Facebook has already been launched in France and Germany, says Saliu, and will expand to other markets as well.
Learn with Facebook is a direct move into LinkedIn’s territory, although Facebook representatives denied yesterday that it was seeking to compete directly with the business-focused social network. LinkedIn has steadily built up its own learning offerings since it acquired Lynda.com in 2015 and rebranded it as LinkedIn Learning. Last week, Harvard Business Publishing announced a new partnership with LinkedIn that will allow customers of HBP to access its content directly via LinkedIn Learning’s platform.
The courses currently available on Learn with Facebook include tutorials on digital marketing as well as resume writing and job interviewing. Facebook is working with the Goodwill Community Foundation to develop course material and adapt it to the needs of local communities, says Saliu. “Our goal is to provide accessible, relevant content to entry-level job seekers,” she says.
Facebook is also enhancing its Jobs on Facebook services by allowing businesses to share their job postings on Facebook groups as well as on their own pages and newsfeeds. The company says more than 1 million people have found jobs via Facebook since it launched the service last year.
Facebook is also making updates to its Mentorship tool, which is designed to make it easier for members of Facebook groups to connect with others who have specific experience or expertise. Users will now be able to sign up to share information on what they’re offering or looking for, making it easier for other Group members to find and connect with them on their own rather than going through a Group administrator first, says Michelle Mederos, Facebook Mentorship product designer.
Facebook Groups have enabled people working in high-stress, low-prestige occupations such as certified nursing assistant obtain mentoring and support, says Seth Movsovitz, founder of a Facebook Group called CNAs Only.
Although LinkedIn currently remains the dominant social-media player in the jobs space, it’s clear that Facebook is determined to be a big player as well. For employers that are desperate to fill jobs in a tight labor market, more competition between the two can only be a good thing.
SOURCE: McIlvaine, A. (15 November 2018) "Facebook Unveils New Career-Development Portal" (Web Blog Post). Retrieved from https://hrexecutive.com/facebook-unveils-new-career-development-portal/
Creating Better Employee Benefits With Advanced Analytics
It is important to provide a workplace, employee benefits and payment system that keep your employees happy. Read this blog post to learn how you can create better employee benefits with advanced analytics.
Job satisfaction is the most important part of maintaining a happy workforce. If you have a workforce that feels like they could get a better deal elsewhere then they are likely to leave.
It is therefore important to provide a working environment, benefits and payment system, that keeps your employees happy without breaking the bank.
Analytics are being used to make sure that this is being done effectively, seeing where discontent is occurring and helping to suggest how this can be solved.
For instance, there are research companies that can use text analysis tools to analyze hundreds, if not thousands of survey entries that can give a holistic view of employee benefits. Often when survey results are being analyzed by an individual, it is difficult to gauge the overall feeling and there can be bias put on the results.
It also allows for HR to note the frequency of meetings with individuals as well as the frequency and size of any pay rises. If it is flagged that somebody hasn’t had a meeting with HR where they can directly communicate any concerns for a considerable amount of time, then tho scan be rectified.
Analytics can also be used to investigate which teams are happiest, have the highest retention rates or are the most profitable. This then allows companies to investigate in detail what is making these teams happiest or most productive, then create benefit packages to create similar results for other teams in the company.
Analytics and data have allowed companies to collect data to make their workforces happier and more content. This, in turn, creates situations where employees are eager to work and appreciative of the benefits they receive, improving ROI and increasing productivity.
What employers can do to combat risks of workplace opioid abuse
How can employers combat the risks associated with workplace opioid abuse? With an increase in opioid use, employers are now tasked with the challenge of addressing opioid misuse in the workplace. Continue reading to learn more.
The opioid epidemic presents a unique challenge for employers. While opioids can be beneficial for employees suffering from pain, they also pose grave risks and dangers for companies as even appropriate use of the drugs can cause impairment and lead to accidents.
For example, if an employee had an accident and suffers an injury, you may see the physical signs of the injury. However, it’s not as obvious if the employee was prescribed opioids for the pain associated with that injury. If the employee doesn’t disclose the prescription, they could resume their everyday duties, like operating machinery, when they should be restricted while using the drug.
Due to the increasing prevalence of opioid use, employers are likely now challenged with addressing misuse in the workplace. Often, companies may not know the best approach to supporting employees dealing with an opioid addiction. When speaking with employers, it’s important to stress the need for organizations to be well-versed in opioid misuse and ways to proactively identify and address it.
Employers can work to combat opioid use in their organization by providing accommodations and updating their policies, procedures and employee communications. Here are a few ways they can get started.
Short-term accommodations
If an employee is taking prescribed opioids for an injury and has specific limitations or restrictions, an employer can work with a disability carrier to determine potential short-term accommodations that can be made to meet the employee’s needs. Short-term accommodations can help keep an employee comfortable and productive at work during his or her recovery.
Policies and procedures
If an employer hasn’t done so already, it should consider putting a comprehensive drug policy in place to help it address issues that may arise if an employee misuses prescription drugs. The policy should include a description of available assistance options for employees who are struggling with substance abuse and clearly state consequences for employees who violate the policy, empowering supervisors to take appropriate action in response to employee issues.
Destigmatizing use
It’s easier to help someone if they come forward, but right now, stigma surrounding opioids can cause employees to keep their prescription use to themselves. Encouraging open lines of communication can help companies destigmatize prescription drug use so their employees feel comfortable disclosing the medications they’re taking that could limit them at work.
Fostering transparency, combined with short-term accommodations and clear policies, can help employees feel more comfortable coming forward with their condition. Remind employers that their disability carrier can be a great resource to help with education, recommend proactive ways to address misuse at their organization and create accommodation plans for employees in need. With these steps, employers can help support their employees and, ultimately, make the workplace a safer place for all.
SOURCE: Jolivet, D (16 October 2018) "What employers can do to combat risks of workplace opioid abuse" (Web Blog Post). Retrieved from https://www.benefitnews.com/opinion/what-employers-can-do-to-combat-workplace-opioid-abuse-risk
U.S. Unemployment Drops to Lowest Rate in 50 Years
Last month the U.S. unemployment rate fell to 3.7 percent, the lowest it’s been in 50 years. Continue reading to learn how the low jobless rate is affecting the U.S. labor market.
Unemployment in the U.S. fell to 3.7 percent in September—the lowest since 1969, according to the Bureau of Labor Statistics (BLS).
The low jobless rate, down from 3.9 percent in August, is further evidence of a strong economy—employers added 134,000 new jobs in September, extending the longest continuous jobs expansion on record at 96 months. The continued gains run counter to economists' expectations for a significant slowdown in hiring as the labor market tightens. Through the first nine months of the year, employers added an average of 211,000 workers to payrolls each month, well outpacing 2017's average monthly growth of 182,000.
"This morning's jobs report marked a new milestone for the U.S. economy," said Andrew Chamberlain, chief economist at Glassdoor. "With good news in most economic indicators today, it's likely the economy will continue its march forward through the remainder of 2018."
Cathy Barrera, chief economist at online employment marketplace ZipRecruiter, pointed out that the jobless rate ticked down for all education levels. "Anecdotal evidence has suggested that employers have experienced labor shortages for entry-level positions, and the decline in unemployment for these groups reflects that," she said. "More of those joining or rejoining the labor force are moving directly into jobs, reflecting the high demand for workers."
The sectors showing the strongest jobs gains in September include:
- Professional and business services (54,000 new jobs).
- Healthcare (26,000).
- Transportation and warehousing (24,000).
- Construction (23,000).
- Manufacturing (18,000).
"Retail job losses—20,000 jobs—were widespread, and the leisure and hospitality sector lost 17,000 jobs, largely confined to restaurants," said Josh Wright, chief economist for recruitment software firm iCIMS, based in Holmdel, N.J.
"We can clearly point to a slowdown in retail trade for the dip in [overall] payroll numbers in September," said Martha Gimbel, research director for Indeed's Hiring Lab, the labor market research arm of the global job search engine. "Retail trade had a strong first half of the year but has slowed down in recent months. In addition, recent Hiring Lab research saw a slight dip in the number of holiday retail postings, suggesting that the sector may struggle in months to come."
Prior to September, employment in leisure and hospitality had been on a modest upward trend and the losses last month may reflect the impact of Hurricane Florence.
The Department of Labor said it's possible that employment in some industries was affected by Hurricane Florence which struck the Carolinas in September. Nearly 300,000 workers nationwide told the BLS that bad weather kept them away from their jobs last month.
"That's far below the level in September 2017 amid hurricanes Harvey and Irma, but significantly above the average of about 200,000 over the prior 13 years," Wright said. Upward revisions are likely, he added.
Wages Stubborn but Rising
In September, average hourly earnings for private-sector workers rose 8 cents to $27.24. Over the year, average hourly earnings have increased by 73 cents, or 2.8 percent.
"That's down slightly from the 2.9 percent pace last month, but consistent with a steady upward trend in wage growth we've seen as the job market tightens and more employers face labor shortages," Chamberlain said. "We expect to see that pace continue to rise throughout the holiday season, likely topping 3 percent within the next six months."
Glassdoor has recorded strong wage growth in tech-heavy metropolitan areas such as San Francisco, New York and Los Angeles.
"If the true wage growth rate is at or below 2.8 percent year-over-year, it is disappointing that it is not growing faster," Barrera said. "Given how tight the labor market has been not only with overall unemployment below 4 percent, but particularly so at the entry level, we would expect wage growth to be higher. The labor turnover numbers suggest that mobility is lower than it historically has been in periods where unemployment is very low. This is one reason wages may not be rising as quickly as we'd expect."
Labor Force Participation Stalled?
The nation's labor force participation rate held at 62.7 percent.
"Looking at the labor flows data, the rate of movement of the civilian population into the labor force hasn't moved much in the last couple of years, however, more of those folks are moving directly into employment rather than into unemployment," Barrera said.
Wright noted that the number of new labor force entrants and reentrants going directly to unemployment was just 33,000. "This raises interesting questions—whenever we get a recession, how long will these reentrants and new entrants continue searching for jobs before leaving the labor force?" he asked.
The percentage of the population in their prime working years with a job also held around 79 percent, where it's been for about eight months, Gimbel said, adding that the measure suggests that the number of workers remaining to pull into the labor force may be exhausted.
"The share of the labor force working part-time but who wants a full-time job unfortunately ticked up," she said. "Any remaining slack in the economy may be concentrated in part-time workers who want more hours."
SOURCE: Maurer, R. (5 October 2018) "U.S. Unemployment Drops to Lowest Rate in 50 Years" (Web Blog Post). Retrieved from https://www.shrm.org/resourcesandtools/hr-topics/talent-acquisition/pages/us-unemployment-drops-lowest-50-years-bls-jobs.aspx/
4 best practices for implementing a gamification-based compliance training system
Many employees may dislike and even disengage when their employer mentions implementing training sessions. Continue reading to learn how implementing a gamification-based training system can help improve employee engagement.
For most employees, compliance training is the Brussels sprouts on the kid’s plate of working life. Everyone knows it’s good for you — one mistake could lead to violations, accidents, reputation issues and maybe a not-so-friendly visit from regulatory body officials — but most workers turn up their noses and disengage when it’s time to dig in.
Considering that merely a third of American workers report feeling engaged at work as it stands, anything that makes matters worse is dangerous. Why risk inflaming indifference — not to mention spending money for on-site instructors — with dull-as-dry-toast workshops?
A far better bet is to embrace technology and go virtual. Of course, online-based compliance training won’t guarantee heightened participation or enthusiasm unless they have one specific aspect: gamification.
Gaming elements can turn any virtual compliance training learning management system (LMS) into an immersive experience. ELearning compliance training participants can enjoy customization and flexibility while getting up to speed on the latest rules, guidelines and protocols. With LMS gamification, HR managers and chief learning officers can cultivate and retain top talent. Best of all, it’s far easier to get buy-in for a robust LMS system with badges, bells and whistles than it is to make a pile of Brussels sprouts disappear from a toddler’s tray.
What exactly is so exciting about game-based learning? In essence, the process prompts active and immediate participation because of extra motivation in the form of rewards. Whether it’s badges or points, these features make eLearning interesting and enjoyable.
In one study, workers who enjoyed themselves retained concepts 40% better than those who weren’t having fun. As you might guess, this is what game-based learning is all about. Engaged employees who rapidly earn rewards are less likely to make errors, so they naturally increase a company’s bottom line and lower the likelihood of compliance fees and penalties. Plus, according to research from TalentLMS, 87% of employees report that gamification makes them more productive.
Merging gamification with training makes plenty of sense. It’s also easy to build a gamification-based compliance training LMS by following a straightforward LMS implementation checklist.
1. Identify your training goals and gaps. Before you can find the best LMS for your needs and move forward with an implementation project plan, you need to spot the inefficiencies of your existing compliance training program. For example, your strategy might not facilitate real-world applications. Knowing this, you would want a compliance training LMS that bridges gaps and imparts practical experience.
2. Discover what motivates and drives employees. Employee gamification only works when employees are properly incentivized, so find out what motivates your team based on their backgrounds and experience levels. Whether a task is challenging or boring, people respond better when they are internally driven to succeed.
Do you need an intuitive LMS with a personalized dashboard? Are the introverts on your team more driven by badges and points than by a sense of competition? Conduct surveys to gauge expectations, and try to follow a 70:20:10 model of training amplified by gaming to foster experimentation and collaboration.
3. Choose the right rewards for desired outcomes. With the plethora of LMS choices on the market, you can select from rewards and mechanics that lead to the exact behaviors and criteria you desire. Want employees to achieve safety online training certifications? Reward “graduates” with points after they have displayed their proficiency. Reinforce favorable behaviors without punishing workers who lag behind. Carrots are far more effective than sticks.
4. Invest in a feature-rich, gamification-supported LMS. Your LMS should not only be user-friendly, but it should also be a portal to game-based learning support and an online asset library. Ideally, your gamified learning platform should include themes and templates that allow you to design visually appealing rewards without reinventing the wheel. Just make sure you have game-based reporting on your side, which makes it simple to track employee performance, completion rates, and other LMS metrics.
Implementing a gamification-based compliance training strategy requires careful budgeting, planning, and analysis. Once you find an LMS platform that delivers the features you need within your price range, you’ll be on your way to mitigating risks and retaining superstar employees. And thanks to gamification, everyone can have a little fun along the way.
SOURCE: Pappas, C. (10 October 2018) "4 best practices for implementing a gamification-based compliance training system" (Web Blog Post). Retrieved from https://www.benefitnews.com/opinion/4-best-practices-for-implementing-a-gamification-based-compliance-training-system?brief=00000152-14a5-d1cc-a5fa-7cff48fe0001
6 Books on the Future of Work That Every HR Professional Should Read
What do the next 50 or 100 years have in store for organizations and workers? Read this blog post for six books on the future of work that every HR professional should read.
As HR professionals and organizational leaders, it seems we are increasingly bombarded with messages about disruptive innovations and the changing nature of work. While calls to prepare strategically for the "future of work" might sometimes seem over-the-top, it doesn't change the fact that we've seen tremendous shifts in the global economy (including the labor economy) and technological innovation over the past 50 years that have had significant implications for the nature of work.
So what do the next 50 years have in store for organizations and workers? How will disruptive technologies like robotics, artificial intelligence/machine learning, pharmacogenetics, quantum entanglement, virtual presence/augmented reality, 3-D printing, and blockchain (among many others) influence future labor markets?
Here are six books I believe every HR professional and organizational leader should read to better understand these trends and the drivers influencing the shifting trajectories in the future of work.
1. The Future of the Professions: How Technology Will Transform the Work of Human Experts(Oxford University Press, 2017) by Richard Susskind and Daniel Susskind
The Future of the Professions closely examines the intersection of rapidly advancing innovative technologies and the shifting nature and transformation of work and the professions, providing theoretically grounding and ample examples of emerging technologies, organizations and work arrangements. It is intended for organizational leaders and policy practitioners of all stripes who are interested in the effects of disruptive technologies on the future of work.
2. The Future of Work: Robots, AI, and Automation (Brookings Institution Press, 2018) by Darrell M. West
In The Future of Work, West sees the U.S. and the world at a "major inflection point" where we have to grapple with the likely impact of an increasingly automated and technologically advanced society on work, education and public policy. The insights provided will be useful to those who manage others and to those who are managed in the workplace of the future.
3. Rise of the Robots: Technology and the Threat of a Jobless Future (Basic Books, 2016) by Martin Ford
Rise of the Robots is a somewhat unsettling vision of a future world dominated by artificial intelligence, machine learning and highly automated industries, where most members of the current workforce find themselves replaced by technology and machines; in other words, a jobless future. Based on recent economic and innovation trends, Ford argues that the rapid technological advancement will ultimately result in a fundamental restructuring of corporations, governments and even entire societies as middle-class jobs gradually disappear, economic mobility evaporates and wealth is increasingly concentrated among the elite super-rich.
4. Gigged: The End of the Job and the Future of Work (St. Martin's Press, 2018) by Sarah Kessler
Gigged examines the shifting psychological contract between organizations and workers, discusses trends in the organization of work, and documents the movement in recent decades away from traditional employment models and toward part-time work and contingent employment arrangements such as independent contracting and project-based "gig" work. While such work has always been a part of informal economies around the world, the trend is increasingly common in traditional organizations as well, bolstered by the success of companies like Uber and Airbnb.
5. The Future of Work: Attract New Talent, Build Better Leaders, and Create a Competitive Organization (Wiley, 2014) by Jacob Morgan
In The Future of Work, Morgan continues the argument that the world is changing at an accelerated pace. He demonstrates that the way we work today is fundamentally different from how previous generations worked (due to globalization, technological innovation and shifts in the composition of national economies) and suggests that the future of work will be drastically different from what we experience today (a shift from knowledge workers to learning workers), where employees can work anytime and anywhere and can use any devices.
6. Shaping the Future of Work: A Handbook for Action and a New Social Contract (MITxPress, 2017) by Thomas A. Kochan
Probably the most academic book on this list, Shaping the Future of Work acknowledges an increasingly digitized economy and examines the resulting shift in social contract with regard to work and the professions. Kochan provides a road map for what leaders across contexts need to do to create high-quality jobs and develop strong and successful businesses.
What Does All This Mean?
In the next 50 years, we will likely see:
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A continually shifting geopolitical landscape.
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Continued movement from linear organizations to a more latticed/connected framework.
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The displacement of jobs and the hunt for talent in a more automated economy.
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An increasingly mobile and flexible labor force, and a push toward a reskilling agenda within organizations to continually leverage human capital value.
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Technological advancements that continue to disrupt traditional organizational models and shift the very nature of work and professions.
So what does this all mean for HR professionals and organizational leaders? What are the core competencies of organizations that are prepared for these technological disruptions? How does the shifting nature of work influence needed HR competencies?
Regardless of what the future holds, these are questions we need to be asking and discussions we need to be having so that we are prepared for the future of work.
SOURCE: Westover, J. (5 September 2018) "6 Books on the Future of Work That Every HR Professional Should Read" (Web Blog Post). Retrieved from https://www.shrm.org/hr-today/news/hr-magazine/book-blog/pages/6-books-on-the-future-of-work-that-every-hr-professional-should-read.aspx/
Wanted: Female financial advisors to shrink industry gender gap
Recent studies show that just 16 percent of all financial advisors are women, creating a substantial gender gap. Do you want to close the gap?
If you want more female financial advisors, leverage the ones you already have.
That’s among the findings of the J.D. Power 2018 U.S. Financial Advisor Satisfaction Study, which says that despite the fact that women control 51 percent of assets, just 16 percent of all financial advisors are women.
That kind of a gender gap is nothing to be proud of, especially since it also finds that female financial advisors are generally more satisfied and loyal to their firm than their male counterparts.
That said, female advisors have “some unique pain points” that firms looking to better their position in the industry would be wise to correct.
“The wealth management industry clearly recognizes that aligning the gender mix of advisors with the shifting demographics of investors is critical for their success,” Mike Foy, director of the wealth management practice at J.D. Power, says in a statement. Foy adds, “But firms that want to be leaders in attracting and retaining top female talent need to differentiate on recognizing and addressing those areas that women’s perceptions and priorities may differ from men’s.”
The study, which measures satisfaction among both employee advisors and independent advisors, bases its evaluation on seven factors: client support; compensation; firm leadership; operational support; problem resolution; professional development; and technology support.
Considering that even though overall satisfaction with firms is improving, women are “more satisfied and loyal, bigger brand advocates.” The study finds that female advisors’ average overall satisfaction score is 786 among employee advisors—an impressive 59 points higher than among their male counterparts. Among independent advisors, overall satisfaction among women is also higher, at 793, topping their male counterparts by 39 points.
In addition, female advisors also are more likely than male advisors to say they “definitely will” remain at the same firm over the next 1–2 years (68 percent, compared with 56 percent) and are more likely to say they “definitely will” recommend their firm to others (60 percent, compared with 50 percent).
But as far as female advisors are concerned, their firms fall short in a number of areas. Women are significantly more likely than men, the report finds, to say they do not have an appropriate work/life balance (30 percent, compared with 22 percent). And 90 percent of women who do have that balance say they “definitely will” recommend their firm, while only 68 percent of those who do not will do so.
Women are also less likely than men to say they “completely” understand their compensation (60 percent, compared with 66 percent) and less likely to believe it reflects their job performance (60 percent, compared with 68 percent). They’re also less likely than men to believe mentoring programs are effective (44 percent, compared with 53 percent).
The mean tenure for female advisors at their current firms, the study reports, is 18 years, while the mean tenure for male advisors at their current firms is 20 years.
SOURCE:
Satter, M (13 July 2018) "Wanted: Female financial advisors to shrink industry gender gap" [Web Blog Post]. Retrieved from https://www.benefitspro.com/2018/07/12/wanted-female-financial-advisors-to-shrink-industr/
The decline of the employment drug test
Employers are struggling to hire workers in tightening U.S. job market. Marijuana is now legal in nine states and Washington, D.C., meaning more than one in five American adults can eat, drink, smoke or vape as they please. The result is the slow decline of pre-employment drug tests, which for decades had been a requirement for new recruits in industries ranging from manufacturing to finance.
As of the beginning of 2018, Excellence Health Inc., a Las Vegas-based health care company with around 6,000 employees, no longer drug tests people coming to work for the pharmaceutical side of the business. The company stopped testing for marijuana two years ago. “We don’t care what people do in their free time,” said Liam Meyer, a company spokesperson. “We want to help these people, instead of saying: ‘Hey, you can’t work for us because you used a substance,’” he added. The company also added a hotline for any workers who might be struggling with drug use.
Last month, AutoNation Inc., the largest U.S. auto dealer, announced it would no longer refuse job applicants who tested positive for weed. The Denver Post, owned by Digital First Media, ended pre-employment drug testing for all non-safety sensitive positions in September 2016.
So far, companies in states that have legalized either recreational or medicinal marijuana are leading the way on dropping drug tests. A survey last year by the Mountain States Employers Council of 609 Colorado employers found that the share of companies testing for marijuana use fell to 66 percent, down from 77 percent the year before.
Drug testing restricts the job pool, and in the current tight labor market, that’s having an impact on productivity and growth. In surveys done by the Federal Reserve last year, employers cited an inability by applicants to pass drug tests among reasons for difficulties in hiring. Failed tests reached an all-time high in 2017, according to data from Quest Diagnostics Inc. That’s likely to get worse as more people partake in state-legalized cannabis.
“The benefits of at least reconsidering the drug policy on behalf of an employer would be pretty high,” said Jeremy Kidd, a professor at Mercer Law School, who wrote a paper on the economics of workplace drug testing. “A blanket prohibition can’t possibly be the most economically efficient policy.”
Companies are having a hard enough time hiring, with unemployment hovering around 4 percent. “Employers are really strapped and saying ‘We’re going to forgive certain things,’” said James Reidy, a lawyer that works with employers on their human resources policies. Reidy knows of a half-dozen other large employers that have quietly changed their policies in recent years. Not all companies want to advertise the change, fearing it might imply they are soft on drugs. (Even former FBI director James Comey in 2014 half-joked about the need for the bureau to re-evaluate its drug-testing policy to attract the best candidates.)
Why the change? Pre-employment testing is no longer worth the expense in a society increasingly accepting of drug use. A Gallup poll in October found that 64 percent of Americans favor legalization. That’s the most since the company first started asking the question in 1969, when only 12 percent supported changing the plant’s status. Drug tests costs from $30 to $50 a pop, but the potential costs to an employer are far greater than the actual test.
In addition to helping ease the labor market, eliminating drug testing could have even broader benefits for the economy, said Kidd. Employers could hire the best, theoretically most-productive workers, he said, instead of rejecting people based on their recreational habits. Companies have said they lose out to foreign competitors because they can’t find people who can pass drugs tests, a particularly acute problem in the areas most affected by the opioid crisis.
Some jobs, such as those involving the use of heavy machinery, will always require drug tests. Excellence Health still drug-tests any employee working on a government contract, even in states where weed is legal. Companies are also reserving the right to test after an accident or if an employee comes to work notably impaired.
Not all companies are ready to change course. Restaurant Brands International Inc., which owns Burger King, hasn’t altered its corporate marijuana policy, said Chief Executive Officer Daniel Schwartz. Ford Motor Co. still treats pot as an illegal substance, according to a company spokeswoman.
Weed-averse employers have a notable ally: Attorney General Jeff Sessions. A longtime opponent of legalization, Sessions rescinded in January the Obama-era policies that enabled state-legalized cannabis industries to flourish. The uncertainty caused by the Justice Department’s actions may discourage companies from making changes.
Employers can also get discounts on workers’ compensation insurance for maintaining a “drug-free workplace” by, in part, drug-testing workers. But the types of workplaces forgoing pre-employment tests already enjoy relatively small savings. A job in an office setting, for example, won’t have very many workers’ compensation claims, compared to a factory. The money saved by meeting the qualifications for a drug-free zone isn’t worth it.
“We assume that a certain level of employees are going to be partaking on the weekends,” said Reidy, the employment lawyer. “We don’t care. We’re going to exclude a whole group of people, and we desperately need workers.”
Read the article.
Source:
Greenfield R, Kaplan J. (5 March 2018). "The decline of the employment drug test" [Web Blog Post]. Retrieved from address https://www.benefitspro.com/2018/03/05/the-decline-of-the-employment-drug-test/
4 trends in financial education
Having financial wellness within your business is incredibly valuable for its overall growth and success. In this article, we are going to take a look at four trends contributing towards financial wellness in the employee benefits realm. Read more below.
Employees’ financial well-being is a hot topic these days. Right now, it’s top-of-mind with most employees. And it’s becoming more so with employers, not only because they are realizing the effect employee financial stress has on their bottom line, but also because industry surveys are revealing that employees want their employers to help by providing financial education and benefits.
Benefit advisers have a definite role in helping employers take steps toward building a more financially-secure workforce through financial wellness benefits. What should advisers expect to see this year in financial wellness benefits?
Industry research confirms the impact employee financial stress has on a company’s bottom line, including lower productivity, higher absenteeism and more healthcare claims. Only about half of employers offered some kind of counseling or instruction about money last year, according to SHRM and IFEBP surveys. Certainly, more employers will want to add financial education benefits this year. Benefit advisers can help by bringing this to the attention of their clients.
Another trend to consider is that financial education benefits are becoming more holistic. Financial education benefits should be more than planning for retirement and having access to supplemental medical benefits. Financial education benefits today should include financial education tools and resources as well as voluntary benefits that are designed to address both physical and emotional struggles while working to help employees with short-term financial needs.
Look for more student loan repayment benefits to become available in the industry this year. In 2017, more Americans were burdened by student loan debt than ever before. It’s a major concern among today’s millennials, the largest generation in today’s workforce. This year we likely will see more student loan repayment benefits appear, including programs in which employers are making contributions to loan balances or providing methods for employees to refinance their debt.
Increased attention to helping employees with short-term financial issues also will be a focus this year. In spite of the improved economy, employees are still struggling financially. Statistics show the alarming number of employees that continue to live paycheck-to-paycheck and do not have even $1,000 in savings for emergency needs.
While financial education benefits can help employees with budgeting and debt reduction needs, employers should offer additional voluntary benefits that provide employees some financial assistance in the short-term. Benefit advisers should bring short-term financial assistance voluntary benefits to the attention of their clients. Among these are employee purchase programs and low interest installment loans and credit that help employees avoid payday loans and cash advances from credit cards when they have emergency needs such as a broken refrigerator or unexpected out-of-pocket medical expenses.
Employers are realizing the important role that financial education plays in an employee’s overall well-being and will look to increase their financial wellness benefits on several levels. Benefit advisers not only can bring the need to the attention of their clients, but can also offer benefit recommendations to round out their clients’ employee benefits programs.
Read the original article.
Source: Halkos E. (February 9th, 2018). "4 trends in financial education" [Web Blog Post]. Retrieved from address https://www.employeebenefitadviser.com/opinion/4-trends-in-financial-education
How millennials are shaping employee benefits
By 2025, the millennial generation will make up more than 75% of the U.S. workforce. With this spike and the need for new ways of thinking, employers are updating their benefits packages to entice the future talent of their companies.
Traditionally, the two big-hitting variables for potential employees are, you guessed it, salary and benefits. But what are millennials looking for when it comes to the actual benefits package? They’re looking for good pay and insurance, to be sure, but Care@Work names eight of the most swoon-worthy benefits for the millennial generation including flexible employee benefit options, holistic approaches to wellness, and lifestyle solutions.
Flexible employee benefit options
As the spice girls sing, “I’ll tell you what I want, what I really, really want.” Excuse the pop culture reference, but millennials will get it – and they know what they want. They don’t fit into a cookie-cutter benefits package, and instead look for flexible plans to satisfy their needs. Flexible benefit plans allow employees to choose benefits they want from a package of programs offered by their employer. Flex plans may include health insurance, retirement benefits or reimbursement accounts.
Holistic approaches to wellness
Millennials are constantly bombarded with the notion of living a healthy lifestyle. They are looking for employers who don’t just hand them a health insurance packet but also serve as proactive partners for their health and well-being. They are looking for opportunities to join work-sponsored club sports, health screenings at the campus clinic and lunch-and-learns on low carb Crockpot diets. Can you hear those spice girls singing in the background again? An added bonus: Companies benefit from this approach as well!
Lifestyle solutions
Another hallmark of millennials is the “access over ownership” mentality. With the majority of employees’ everyday lives revolving around technology, companies are finding ways for them to access and elect their benefits online rather than the old pen and paper approach. Millennials want solutions to their everyday responsibilities while they are giving their all on the job. So, other lifestyle solutions they might look for are child care services, therapists and dog walkers. Instead of driving home during your lunch break to walk the dog or pick up the kids, why can’t dogs and kids come to work with you and have their needs met at daycare while you’re on the third floor running from meeting to meeting?
“Employees are looking for the ‘total package’ and that’s what Unum is hoping to offer,” says Ben Roberge, human resources benefit consultant at Unum. “We want to think of benefits in terms of total rewards, combining compensation and benefits to entice and engage existing and future employees.”
Whether you just landed that big job or are still weighing your options, consider if your company is forward-thinking and meeting your needs and wants.
You can read the original article here.
Source:
Dunham H. (21 June 2017). "How millennials are shaping employee benefits" [Web blog post]. Retrieved from address https://workwell.unum.com/2017/06/millennials-shaping-employee-benefits/?utm_sq=flhwx3lz6b&utm_source=Twitter&utm_medium=social&utm_campaign=workwelltweets&utm_content=Benefiting+you