Exec: 3 ways to strengthen workforce in a downturn | New York City braces for law governing AI in hiring | U.S. Bancorp to give 2nd minimum wage increase this year
Companies can emerge from an economic downturn with a stronger workforce if they plan now to address unsustainable financial incentives and other challenges, writes Ryan Wong of people analytics company Visier. Wong suggests solutions for such conflicts, including returning to offices.
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Human resources departments in New York City are worried about an upcoming law that governs the use of artificial intelligence in the hiring process. "I don't think it's deterring people from using the tools, but I do think employers and vendors are really eager for guidance from the city," says attorney Danielle Moss.
Employers can better attract, engage and retain talent by offering skills-based volunteering opportunities, writes Common Impact's Tessa Vithayathil. "Employees want to live their values at work and take pride in their employer," Vithayathil writes.
The Inflation Reduction Act is expected to save consumers money by extending enhanced health plan premium subsidies through 2025, lowering some prescription medication prices, and reducing out-of-pocket expenses for Medicare enrollees, but employers are likely to see rising costs. The burden of billions of dollars in revenue lost by pharmaceutical companies will "trickle down to insurance carriers and then employers," said John Staub, director of outreach at Remodel Health.
Leaders can get ahead if they give themselves time to think and plan, says FanDuel CEO Amy Howe, who reflects on her own busy life and how she built her competitive edge in sports such as cheerleading and gymnastics. "In our crowded days, with our schedules that seem to pile upon us continuously, we have to carve out time for preparing for the challenges ahead," Howe says.
I struggled to hang onto my binders as I made my way up the walkway to the gate of the cream-colored house. I stared up at it, marveling. It was beautiful. A former crack house, it had been purchased by a wealthy family and donated to an organization that worked with homeless people. The organization had renovated it into a transitional home for women and children who were homeless, but they needed more money to help finish the work. I was there to talk with the director about how I could volunteer and support their development efforts.
A woman was sweeping the walkway, her back to me. I tapped the gate to get her attention.
“Hellooo!” I called, still trying to balance the load of slippery binders in my arms. “I’ve got a 2 o’clock meeting with Bonnie.”
The woman turned around to look at me. I stepped back, startled.
“Camille!” I said, a bit too brightly. “How in the world are you?”
It was a gal named Camille. She and I were the same age and had attended school together. She’d been an excellent student and a star athlete -- a diver. I knew her family; her sister and I worked together in the church office. Camille came from a good home and had a great family and a promising future. Why was she at a homeless shelter?
She opened the gate for me and we shared an awkward hug. “You look great!” I said, struggling to find authentic words. She gave me a sympathetic smile and rubbed my arm. She understood what I was trying to do. “I’ll take you to Bonnie’s office,” she offered. I nodded.
As we made our way to the office, Camille poured out her story. Her life through high school had been as predicted -- good grades, great athletic career, lots of friends. It wasn’t until college that she began to experience some mental health issues. They got worse after she finished college, got married and started a family.
Camille tried to manage the issues on her own but couldn’t, she explained. Friends started to keep their distance. Her marriage started to fray. And as she neared 30 and her behavior became increasingly erratic, her husband became concerned for their children. When she refused to get help, he filed for separation and the court awarded him full custody of the children. Unable to live at home or with her parents, Camille found herself on the streets.
“So now I’m here, trying to get myself together so I can see my kids,” she explained. We were now standing in front of Bonnie’s office and she was holding some of my binders. My stomach was churning and I was still at a loss for helpful words. She was so gracious. She smiled at me as she handed me my binders and knocked on Bonnie’s door. “Don’t think bad of my husband. It’s a horrible situation and it killed him to do what he did.”
All I could do was nod and hug her. Bonnie opened the door and looked surprised to see Camille and I hugging. Camille quickly said goodbye and left me to my meeting.
That encounter was about 20 years ago, and it’s still tattooed in my memory. It changed how I perceived people who are homeless. I realized that they all have different stories and backgrounds. My assignment with that home was short-lived, but I poured myself into it. Now it had a face.
Volunteer work is good for us, as individuals and as organizations, as we see in today’s Training Mag story. It reminds us that the world is bigger than our micro-universe. It pivots our focus from ourselves to someone or something else. It lets us take our skills and apply them to meaningful, life-changing work.
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