“Wouldn’t it be great if all the CEOs of the Fortune 500, who employ millions of people in the United States, came together and acknowledged that, notwithstanding everything we’ve tried, we can do even more about race?” Tim Ryan, the US Chairman of PwC asked. What insights did Ryan hold that allowed this CEO to share insights and impart wisdom that most CEOs cannot? Some incredibly moving incidents about what it feels like to be an outsider and have compassion for others. Ryan is moving the needle on diversity in the workplace and using PwC’s reach to spread his message to others. Read More Here
In a job market that can be very tight for certain roles, today’s hiring mistakes can cost you much more than they did a year or two ago. Take the time to incorporate some of these hiring managers’ top recommendations on how to find a qualified candidate. Hint: it doesn’t include the question “where do you see yourself in 5 years?”
The big takeaway from this article: get out of an office or conference room to see how a candidate interacts with all sorts of people. We also appreciate how pushing for diversity is highlighted – “Hiring an innovative team starts with finding people who think differently.” Special nod to The NYT animation on this article – don’t skip the Candyland style “Road to Hired” at the top. Read More Here.
I am sure we sound like a broken record when it comes to AVERAGE wage growth. We’ve pointed out that as Baby Boomers retire at high salaries, and young people enter the labor market at low salaries, of course the average will be lower. We’ve worried that salary budgets of 3.0% meant to cover all range of employees – whether they are in “hot” geographical areas or possess scarce skills – leads to companies making poor merit increase decisions.
The Atlanta Fed has figured out a methodology of looking at wage growth that measures the growth of wages for those that stay in jobs, therefore measuring income growth for non-job changers. The Wage Growth Tracker is the time series of the median wage growth of matched individuals. This is not the same as growth in the median wage.
But Look at Charts 2 and 3. You may have learned in stats class that the median is important because it strips out the noise at the top and the bottom. But this time look at the noise! Follow the 25th and 75th percentiles in Chart 2 to see the tops and the bottoms. See that some workers are receiving 14% or 15% increases and ask yourself: do I have any employees that fit that profile? If I do – how can I address that? Then look at the 25th percentile and ask about what is happening with the negative increases? What competitive factors are driving that?
Lastly, drop to the bottom chart. That’s the percentage of workers receiving 0% increase. Another big why? Are companies diverting that small pool to the 14%? Is there a failure to invest in skills?
We do not have all the answers, but we hope we have framed the questions that folks should be asking. Read More Here