Friday News Roundup: Machines that Hire, Gen Y Workers and More
In addition to all the announcements coming out of HRTech this week, there have been some big news items trending in the industry. Check out our Friday News Roundup of popular stories from the world of HR.
Companies Are Losing Gen Y Workers, And It’s Costly
By 2025, Generation Y (born from 1983–2000) will comprise 75 percent of the workforce. Yet more than a quarter of the companies surveyed have lost 15 percent or more of their Gen Y employees in the last year, costing anywhere from $15,000–$25,000 in lost profits. So what are these 20-30 year-olds looking for from employers and how can you compete? Blogging4Jobs suggests offering flexible schedules, access to mentors and time to work on special interest projects. Overall, Gen Y workers are looking for companies with clear missions and opportunities to improve their skills.
Machines Get Into the Business of Hiring
Big data is helping us prevent injuries in New York’s Central Park and provide better healthcare, so why not have computers help us hire more effectively? Companies like Knack.it Corp and Evolv Inc. are doing just that, finding patterns in respones to games and online questionnaires to better estimate a candidate’s suitability. Games such as Knack’s Wasabi Waiter can measure the ability to recognize and react to moods, where questionnaires like the one used by Xerox Corp. can provide an applicant rating to hiring managers.
Let the Flu Season Begin
As flu-related absences are estimated to cost $6.2 billion in lost productivity this year, more and more companies are offering on-site flu shot clinics to protect employees. While the shot is strongly recommended for those over 50 and those with serious medical issues, the CDC has expanded its recommendation to include everyone over 6 months old. Since many businesses can’t afford to lose key employees, companies are taking the threat more seriously than in years past. In addition to vaccinations, companies should educate employees on specific actions they can take to avoid catching and spreading the flu.
What the Government Shutdown Means for HR
We are a more than a week into the government shutdown and already HR departments across the U.S. are feeling the effects. With the shuttering of federal agencies, everything from hiring to compliance enforcement has been slowed. The Occupational Health and Safety Administration as well as the Equal Employment Opportunity Commission are both closed, which means both current and new investigations cannot move forward. Additionally, E-Verify will not be available during the shutdown. Jim Link, chief HR officer for Randstad US, suggests being open with employees in regards to how the shutdown impacts them. “With any major economic event, it is always best to engage with your staff often to put any potential uneasiness to rest," said Link.
Image Credit: John Greenaway via Flickr