It’s the Small Things: Trends in Human Capital
Six trends in human capital and talent management.
1. ‘Alexa, Find My Next Hire’
As the U.S. unemployment rate remains below 4%, employers are increasingly turning to software companies to match workers and jobs. Using sophisticated algorithms, these services may soon give employers access to a wide range of prospective workers they might not have found otherwise. —The New York Times
2. Culture Is King
Money isn’t enough to lure a job-seeker into a toxic job environment, according to research from LinkedIn. In a survey of 3,000 Americans, 70% of respondents said they would turn down a job offer with a lousy work culture, and a large majority said better pay would not persuade them. —Quartz
3. Soft Skills, Hard Data
Losing good employees can be costly, so managers are turning to software products that examine “people data” to help prevent turnover. The tools analyze employee performance and help managers understand how their leadership style is working. In some applications, software can even give tailored suggestions on what actions managers should take to make improvements. —Entrepreneur
4. Baby Steps
More companies are encouraging men to take parental leave, which can level the playing field for women. Companies like EY and American Express offer generous paid-leave policies for both parents, reflecting their belief that by encouraging fathers to take time off, they can help improve the leadership pipeline for women and increase employee loyalty and retention overall. —Fast Company
5. The Gig Is Up
Tech companies like Uber brought newfound attention to independent workers that make up the so-called gig economy, although there’s been no growth in the share of gig workers since the mid- 90s, according to the Bureau of Labor Statistics. Today, gig labor makes up only 1% of employment in the U.S., stymied by a tight labor market, slower outsourcing and public policies encouraging traditional work arrangements. —The Conference Board
6. Arrested Development
Near-record unemployment rates are opening doors for the roughly 8% of working adults with felony records. Minnesota is among the states where organizations are helping to retrain the formerly incarcerated, and counties in the state are organizing job fairs that are drawing a growing number of companies looking to recruit them. —Minnesota Public Radio News
This edition of “It’s the Small Things” originally appeared in the March/April 2019 issue of Middle Market Growth. Find it in the MMG archive.
