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From gig economy to automation, gender equality to #me too, data-driven HR to HR chatbots, gamification to diversification of the workforce, year 2019 saw a lot of changes, trends and challenges. Now that year 2020 is here, we are quite excited about what’s in store.
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It’s no secret the existence of the gender pay gap is a persistent issue in American workplaces– for over a century, women have fought for equal representation and compensation. There are countless studies that show that at the rate we’re going, we still have a long way to go until it’s no longer a thing.
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According to data from a study released in May 2019 by Freedom Debt Relief, 80% of Americans said they have debt, and 45% have debt over $10,000.2 So, although the economy is in much better shape than it was a few years ago, many Americans are still suffering from stress tied to their finances.
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As budget planning for 2020 kicks off, discussions around employee benefits will be at the top of the list among HR leaders. From flexible hours & health insurance, to free snacks & casual Fridays, companies need to consider the short- and long-term effects of the available benefits for employees.
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The Society for Human Resource Management recently found that nearly 1 in 5 American workers has left a job in the past 5 years due to bad company culture, resulting in an estimated $223 billion lost for companies over that time. In brief, toxic workplaces impact your bottom line.
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According to a recent report from the Society for Human Resource Management, unhealthy workplaces have cost companies an estimated $223 billion over the past five years. Toxic work cultures can harm recruitment and retention, lead to decreased productivity, and even increase workplace accidents.
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If you are seeking to improve performance and revenue for your organization, no doubt you know that given the mindset and motivations of today’s employees, managers have to manage (and not just manage – lead) in a way that elicits strong performance.
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Recruiting, hiring, and training the best employees take significant time and money investments. Without offering these workers a good employee experience, companies risk losing their investments when these employees forsake them for greener pastures.
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Collaboration in the workplace is not a future trend; it’s here now. Further, organizations that embrace collaboration benefit from higher performance among their employees.
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