Sixty-three percent of Americans said they were existing paycheck to paycheck in September, up from 57% this time last year, according to the LendingClub. In addition, the same was true of 49% of workers with paychecks over six figures, up from 38% last year. Full Story: CNBC (10/24)
Recruiting & Retention
Recognize employees for work "no one sees" Employees want to be recognized for the work that is less evident, such as solving a challenging customer problem or working extra hours to meet a deadline, writes Christopher Littlefield, founder of Beyond Thank You. Try practicing "reflective recognition," which urges employees to tell you about the work they're proud of and responding with a "thank you" or positive feedback, Littlefield suggests. Full Story: Harvard Business Review (tiered subscription model) (10/25)
Making your workforce more resilient amid disruption With the Great Resignation still having a seismic impact across all industries, companies need to find creative ways to attract and retain talent — and get them to stay. Saratoga has the HR and talent benchmarking insights to help you see how you compare against your peers. Get the eBook
2 things to fix to improve DEI Stephen Paskoff, founder, president and CEO of ELI, explains two things companies are getting wrong with diversity, equity and inclusion and how to fix them. Fostering an inclusive workplace takes more than training, requiring a will to change behaviors and to focus on what unites people, instead of dividing them, Paskoff writes. Full Story: Training magazine (10/18)
How to demonstrate the importance of social capital Leaders can help employees build social capital -- strong and weak connections to their colleagues -- by modeling its importance, creating sponsorship opportunities between senior and junior employees and making it part of performance management, says McKinsey partner Brooke Weddle. "Incenting leaders to think that way and to build connections accordingly is a helpful lever in terms of increasing motivation," Weddle says. Full Story: McKinsey (10/20)
About the Editor
Kanoe Namahoe 2022
Kanoe Namahoe
I was talking to a friend last night; he recently moved to Southern California. He’s enjoying his new home but admits he’s surprised by the cost of living. “I don’t even know how some people do it,” he said. Many are done trying, I told him. I talked about people who I know are leaving the state because they are worn out from the financial struggle. “And it’s not just young people or low-income families,” I said. “People with six-figure salaries are living paycheck to paycheck now. It’s insane.” Today’s top story talks about this issue and how it’s affecting high-income earners. I was stunned to see that nearly half of people earning more than $100,000 annually are struggling to make ends meet. Economists expect this trend to continue as inflationary challenges persist. That will almost certainly have an impact on the workforce. Some employers are getting out ahead of this with bonuses or gift cards to help cover household expenses. Will you be implementing any strategies -- telecommuting, COLA raises, etc. -- to help support workers through this challenging time? Let me know! And if you enjoy this brief, tell others so they can benefit also.
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