Quick Hits - October 9, 2024 - American Society of Employers - ASE Staff

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Quick Hits - October 9, 2024

Workplace appreciation could be improved: With only half (49%) of employees feeling regularly appreciated for being themselves at work, there's a major opportunity for organizations to create a true culture of appreciation, according to a recent Reward Gateway report which polled 1,000 employees, managers, and executives in the U.S.  Among employees who do not regularly feel appreciated at work, they would like their workplace to show appreciation for them as a person by offering benefits that are important to them (57%) and recognizing personal milestones (45%). Camaraderie with colleagues (43%), benefits (42%), and opportunities to learn and grow (41%) are also important for fostering a sense of appreciation in the workplace, finds Reward Gateway.  More than eight in 10 (84%) of employees say they feel more appreciated as a person when they receive customized recognition for their performance at work (like a personalized gift certificate).  82% agree that this makes them feel more connected to their workplace.  Four in five (82%) employees agree that receiving customized recognition makes them feel more connected to their workplace, with extroverts (88%) more likely to feel this way than introverts (80%), found the report. 57% of employees prefer to be recognized for work-related performance or milestones with monetary awards.  Source:  HR Director 9/6/24

Work from home may exacerbate gender issues:  A new study by Durham University Business School suggests that attempts to level the playing field in the workplace may actually further entrench the inequalities women face at home. They found that women were much more likely to experience blurred boundaries between work and family life, often due to frequent distractions during work. This not only led to higher stress levels, but also negatively affected their productivity too. In contrast, home-working men reported being able to keep clear boundaries between their work and family time.  Despite remote work providing crucial flexibility for women to stay in work, it can still leave them vulnerable to work and life demands and potentially exacerbate pre-existing stereotypes. In a 2023 report by the European Institute for Gender Equality, the unequal share of paid and unpaid work was highlighted as a “root cause” of gender inequality in society and the labor market. Yet for many women, being able to work from home allows them to stay in the workforce at a time when many are being forced to quit because of a lack of flexibility and sky-high childcare costs. Remote work, as well as flexible hours, means women can pursue careers without compromising their health, wellbeing, or caring responsibilities.  Source: Yahoo 9/9/24

Is an AI generated resume ethical? A well-crafted resume is crucial in today’s competitive job market, with an Adobe study showing there is only about a 1 in 17 chance that a submitted resume will lead to an interview.  To improve these odds, job seekers are now leveraging AI tools to refine their resumes, helping to ensure they are tailored to specific job descriptions, feature industry-relevant keywords, and are free from common errors. AI-powered tools can optimize resume content by analyzing job descriptions, suggesting relevant keywords, and ensuring that the language aligns with industry standards. These tools can also help eliminate common errors such as spelling and grammar mistakes, which are frequently cited as red flags by hiring professionals. The use of AI for resumes does not exactly lower chances of getting the job, as 64% of recruiters approve of using AI in resumes. Despite these advantages, only a small portion of job seekers are using AI to enhance their resumes. Adobe Acrobat’s study shows that just 28% of American job seekers currently employ AI for this purpose, suggesting that there is still an untapped potential for AI in resume creation.  Source:  Tech Radar Pro 9/7/24

Who trusts colleges these days? Apparently not many.  A Gallup survey released this summer shows Americans’ confidence in higher education is declining rapidly. Just over one-third of citizens now have “quite a lot of confidence” in colleges, a drop of 21 percentage points in just nine years.  The results of a study commissioned last spring by the Foundation for Individual Rights and Expression (FIRE) conducted by NORC at the University of Chicago are even more dismal: only 28% of Americans have “a great deal” of confidence in higher education institutions. FIRE attributes the dreadful results to public perceptions of “increased ideological homogeneity,” along with rising costs, political bias and increased tensions on campus.  Even more disheartening, research by the American Council of Trustees and Alumni reveals an alarming level of civic illiteracy among students in higher education. Even in a multiple-choice survey format, only one-third of college students could identify John Roberts as chief justice of the United States or Mike Johnson (R-La.) as Speaker of the House. Civic understanding has instead been replaced with a variety of ideological fashions in higher education like diversity, equity and inclusion and so-called “safe spaces.”  Source: The Hill 9/7/24

Are you worried about retirement?  Join the club: Only a fifth of middle-class Americans say they are very confident in their ability to fully retire or maintain a comfortable lifestyle throughout their retirement, according to a new study from the nonprofit Transamerica Center for Retirement Studies in collaboration with Transamerica Institute.  The Harris Poll study broadly defines the middle class as people with an annual household income between $50,000 and $199,000 and conducted an online survey on behalf of Transamerica Institute and TCRS.   A quarter envision doing some form of paid work in retirement.  Only 15% of middle-class savers have annuities, and 34% have life insurance. The median age that middle-class retirees leave the workforce is 62. Half retired sooner than planned, often because of employment or health-related issues.  The survey found that the middle class has yet to fully engage in retirement planning. Only 21% of respondents said they have a lot of working knowledge about personal finance, 24% have a financial strategy for retirement in the form of a written plan, and 17% frequently discuss saving, investing, and retirement planning with family and close friends. Just 34% of respondents said they use a professional financial advisor.  It is an opportunity for employers to provide financial advice assistance to employees.  Source: ThinkAdvisor 8/30/24

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