Hopes for reemployment after job loss fall | Ranks of long-term unemployed continue to grow | Expert: These 4 key lessons can help with employee retention
Americans rated their chance of getting a new job after being made unemployed at 46.2% in December, a decrease from November's 47.9% and the lowest point since Feb. 2014, according to a New York Federal Reserve survey. Respondents put their chances of becoming unemployed at 15%, up from November's 14.6%.
A CEO’s view: Why we’re keeping our offices The future of work will look different—but coming together still matters. We're approaching our all-people, 1,500-person business differently. Read the CEO's perspective. Learn more.
Almost 4 million people have been out of a job at least six months since the coronavirus pandemic started, accounting for 37% of the unemployed. These Americans face even longer unemployment, especially in the hospitality and restaurant sectors, and many are scrambling to pivot to a different career.
Two-thirds of employers unintentionally discriminate during succession planning, with men three times as likely to be selected as having high potential than women, according to a Pinsight study. Companies can take five steps to ensure fair leadership planning, including running bias training, monitoring the right data and developing selection criteria, writes Pinsight CEO Martin Lanik.
PayPal has introduced a four-step initiative to improve the financial wellness of employees that covers reducing health care benefit costs, raising salaries in specific markets, allowing workers to become shareholders, and providing financial coaching and a budgeting app. The company introduced the program after identifying increased take-up of its emergency relief fund for employees and since its introduction, employee retention rates have risen and more workers are saving via 401k retirement accounts.
Advocating for employee development is among the top HR leaders' resolutions for 2021. Felicia Daniel, HR manager at TINYpulse, plans to create a robust training and learning program that includes opportunities for self-training and connect new hires with veteran employees.
I'm a girl from Maui -- with a weakness for chocolate, pinot noir and sports -- covering the latest news and trends in the workforce and K-20 education.
"I can get better at every aspect of the game. I don't do anything perfect. I think the day that you start to say that you can't learn or you can't get better, I think, is the day that you start to tilt your hat to the crowd," Garnett said.
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