Paramount to cut 15% of workforce to save $500M | Why leaders need a strategy to recruit all generations | How to address tardiness in a timely fashion
To achieve $500 million in yearly savings, Paramount Global has started the next phase of its 15% US workforce reduction, affecting about 2,000 employees. These staff reductions come as Paramount contends with significant financial hurdles, including a $6 billion write-down and structural shifts in the media industry.
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Generation Z is the fastest growing workforce group, and their preferences have been shaped by parenting, technology and geography, says Jason Dorsey, president of the Center for Generational Kinetics research firm, who emphasizes the importance of understanding and connecting with different generations in the workforce. Dorsey, speaking at the 2024 ICMA Annual Conference, also urged leaders to recognize the value of every generation, noting baby boomers' experience, Gen X's skepticism and millennials' technology dependence, while encouraging strategies to recruit and retain Gen Z employees.
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A new coalition led by KKR executive Pete Stavros is advocating for expanded employee stock ownership in US companies to address wealth inequality. The group, Expanding ESOPs, is seeking to revise a federal law that could make it easier for frontline employees to own company stock. Despite the potential for improved morale and productivity, the growth of employee stock-ownership plans has stalled in recent decades.
A new initiative called the Neurodiversity Cyber Initiative aims to bridge the gap in Pennsylvania's cybersecurity workforce by recruiting individuals who are neurodiverse, including those with autism and attention-deficit/hyperactivity disorder. The program, a partnership between the Pennsylvania Cybersecurity Center and Mercyhurst University's Autism Initiative, allows for dual enrollment, combining the strengths of both programs to offer specialized training.
Only a tiny percentage of companies use generative AI tools in the HR department, asserts Stacey Walker, CHRO of Fortive, though almost a third of companies say they use it in some capacity, according to McKinsey data. In this commentary, Walker identifies potential areas in which AI could help HR departments, such as providing real-time data for people management and consumer-grade chatbots, along with tips on getting started with the process.
President John F. Kennedy signed an executive order in 1961 to create the Peace Corps. What's the current minimum time commitment for Peace Corps Response Volunteers?
I was eating breakfast at Chicago O’Hare airport. I had about two hours to kill before my next flight. The man sitting next to me had finished his meal and kept looking at his watch, sighing impatiently each time. I glanced over at him and we caught each other’s eyes. I smiled and asked if everything was okay.
“Sorry,” he said, sighing again. “I’m waiting for a colleague. My product manager. Our flight leaves in less than an hour and I haven’t seen him yet. This kid is constantly late. For everything!”
Turns out my breakfast companion was the sales director for a technology company and was heading to Atlanta with the product manager for a meeting with an important client. The product manager was crucial to the conversation.
“The kid is amazing,” the sales director said. “He practically built the solution. He’s super bright, but he has terrible work habits. He is always late. Worse, he doesn’t see it as a problem.”
I recalled this conversation as I read today’s Leadership & Development story about tardy employees. I can’t believe this is seriously an issue. Why are we having to micromanage adults about being on time for work? When did folks become so cavalier about punctuality?
Do you have this issue in your workplace? Maybe it’s not being late to work. Maybe you have folks who are late with assignments and don’t give you a heads-up. If you have workers who are consistently tardy, let me know. I’d love to hear how you manage this.
As for the product manager, he did finally show up -- with rumpled hair and a backpack slung over his shoulder. I wished the sales director luck as he got up to leave. He smiled at me and rolled his eyes as he grabbed his backpack. “Thanks. Have a safe flight,” he said before disappearing into the crowd.
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