Other parts of this series:
- Skilled Labor Shortage, Creating a Culture of Learning – Talent & Organization Weekly News Update
- Agile Leadership, AI Challenges the Reign of Recruitment Agencies – Talent & Organization Weekly News Update
- The Gig Workers’ Financial Future, Banking on the Cloud – Talent & Organization Weekly News Update
- UK’s Gender Pay Gap Problem, Recruiting Gen Z – Talent & Organization Weekly News Update
Here are the top news stories in talent and organization from this week.
The financial future of the workforce in a gig economy
According to a new report from Prudential Financial, “Gig Workers in America: Profiles, Mindset and Financial Wellness,” only seven percent of gig-economy workers have long-term disability insurance, while 16 percent have access to a retirement savings account, compared to 52 percent of full-time employees. “The implications of an entire generation without retirement savings can be detrimental,” Prudential Retirement’s Snezana Zlatar told EBN. “Without a sizable savings for healthcare and other basic services past retirement age, the number of Medicare enrollees could skyrocket. That should be one of the main incentives to encourage the public sector and private sector to seek solutions,” she said and added, “It’s not just about the wellness effect for individuals. It’s about reducing future reliance on government programs.”
Move the jobs where the talent is
Historically, it’s been up to the qualified job candidates to move for a job. But lately, that trend has started to change. In his recent S+B blog, Daniel Gross notes, “companies have begun looking to other areas — in particular to places where the talent is either undiscovered or underutilized. These companies are opening offices, hanging up shingles, and generally establishing physical footprints in new geographic areas.” Gross calls this a win-win for all involved: For companies, it means “lower labor (and office) costs while still offering very attractive salaries and full-time payroll jobs to people who are equipped to perform them.” For employees, it offers “the potential for career development without having to leave home.” For the communities, it represents “a market-based means of spreading the wealth.”
Lifelong learning can close the skills gap
In order to keep the UK workforce relevant and agile as the changing marketplace, cultivating a culture of continuous learning in work is a must, according to Martin Martindale of Raconteur. A recent survey by UK recruitment firm Hays found more than one in three (39 percent) employees would be willing to sacrifice a job offer if there were no prospects for further training there. Martindale argues that companies need to “update their approach to learning and development” by offering both internal and external training opportunities. Building partnerships with schools and universities will be key to build up skills needed for the future workforce. “Yet for any continuous-learning initiative to succeed, it’s essential that employees buy into the concept, rather than seeing training as something that is done to them,” he says.
Input needed for diversity research in British Columbia
HR Tech Group is conducting a study on the current diversity and inclusion practices in the tech sector in British Columbia, Canada, reports T-Net. The group is taking on the project on behalf of the Province of British Columbia and seeks to recommend solutions and strategies to improve diversity in the industry. HR Tech Group invites HR professionals, leaders and employees in the area to participate in this brief survey by Sept. 22. We will be looking forward to reading the report, due to be released by the end of the year.
For better agility, seven steps for banks on the cloud
A growing number of financial services firms are starting to make headway in the cloud, writes Brian Murray for Finance Digest, and recommends the following seven steps for successful cloud migration: 1. Choose the right partners (find a supplier most aligned to your interests), 2. Undertake a thorough analysis of application and service portfolio, 3. Clarify the interaction between application services, 4. Assess the underlying platforms as potential candidates for platform-as-a-service (PaaS), 5. Evaluate the remaining infrastructure, 6. Initiate preparatory work streams before migration, 7. Ensure the migration framework covers business change adoption. “The result is a more nimble business that can move faster to gain a competitive edge. Which is why the smart money is banking on the cloud,” Murray concludes.
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