March HR News Roundup
Looking for a way to keep employees? New research shows career growth is your best friend. "There is room in today's labor market for greater reliance on internal transitions," wrote one of the study's authors on HBR. "Even a 1% improvement in the odds that employees will stay for their next role can translate into hundreds of retained employees at a 10,000-person employer." How big a deal is that 1%? Since it costs up to 21% of employees' salaries to replace them - it's like money in the bank.
Recruitment: Up Close and Personal
Job hunting can feel like internet dating. But a new report says in the future, it'll look more like online shopping. "Today's candidates require a consumer-quality experience," the CEO of a recruitment marketing firm told SHRM about data-driven platforms that can customize content for what "shoppers" are looking for. It's all part of what SHRM calls a shift to data-driven recruiting. "Personalizing careers sites and recruitment marketing will significantly impact not only the quality of candidates companies can reach and attract," wrote Roy Maurer on SHRM, "but also the number of relevant applications."
The Heavy Burden of Student Debt
Did you know that the average class of 2016 college graduate is carrying about $37,000 in student loan debt? Did you know that a lot of those people would sign on long term with an employer just for some help to get rid of it? A recent survey found that 85% of employees would gladly commit to five years with their employer in exchange for help paying off student debt. Even better, since that chunk of debt can affect job performance, paying it down can provide gains in productivity, too. Talk about two birds with one benefit.
What Millennials Really Want
What really matters to today's young employees? Free snacks and ping-pong tables are fun, but what they really want is serious business; think professional development opportunities, promotions, and a company with a great reputation. In fact, about two-thirds of professionals in one study said career growth was even more important than money. "Getting recognition is the reason people drive into work," a talent executive told Benefits News. "People want to feel they're making a difference when they go to work."
Pet perks may be all the rage, but nobody's taking it as far as BrewDog, the Scottish brewery that recently gave its people seven paid days off for the big job of acclimating to a new dog. Puppy parental leave is pretty intriguing since a whopping 65% of job candidates ask about pet-friendly policies. That might make dog perks a good trick for employers who want their people to, um...stay. But we have to wonder if the dogs-only fine print could ruffle some feathers...or cause a cat-astrophy.
And...Last But Not LeastFinally, March HR news wouldn't be complete without another shoutout to the man of the hour - Professor Robert E. Kelly. The good professor's televised interview with the BBC went viral after his children unexpectedly flounced in on live TV. "My real life punched through the fake cover I had created on television," Professor Kelly told the New York Times a few days after the incident. "This is the kind of thing a lot of working parents can relate to."
To that we say, Amen. And an additional "brava!" to the folks who lampooned the whole spectacle, thus answering the question, what happens when a working mom's interview is crashed? Answer: absolutely nothing. See you next month!