This is a weekly roundup of the latest in HR News.
Some interesting conversations happening among Human Resources professionals, employees, and leadership. One article takes a look at the different points of view between Gen Z and Millennial workers when it comes to return to office mandates and remote work options. The debate is never ending! LinkedIn shared news about how the top 10% keep making more money, and how the class divide is growing wider. Layoffs at Maersk and potentially the end of the United Auto Workers (UAW) strike round out the week's top headlines.
Gen Z and Millennials Debate RTO
Business Insider shares an interesting article about how Gen Z is showing a preference for remote work options, whereas Millennials are trying to convince younger employees that RTO is the way to go. The article cites workplace influencers on social media platforms like TikTok.
Every week, RTO mandates are surfacing in HR news. There's a real push and pull for leverage between employees and employers. A clear winner has not emerged, at least not yet. Hybrid work seems to be the compromise, but what will the future hold once Gen Z gains experience and starts earning leadership roles? Let us know what you think on LinkedIn.
The Class Divide Grows with Pay Raises
CNN reports that the total compensation paid to US workers grew at a faster pace than expected last quarter, but the news outlet warns that top wage earners made out the best:
"The top 10% of wage earners (who have an average net worth of about $6.6 million) saw their incomes increase by about 22% between 2019 and 2022. Middle-income wage earners saw a 5% increase over the same period.
There was 'some increase in income inequality over this period,' said the Fed. Indeed it was one of the largest three-year increases in income inequality over the history of the modern survey, according to the Fed."
This news should give HR pause when considering compensation packages of those at every level of the organization. This class divide could swallow America whole, and HR has an opportuity to create change.
Maersk Layoffs
The shipping juggernaut Maersk is laying off more than 10,000 people, according to a number of reports, including one by CNBC. The company was hit hard post-pandemic because shipping is facing subdued demand as people started leaving their homes more often.
"The job cuts, which will see its headcount reduced from 110,000 in early 2023 to below 100,000, are expected to result in savings of $600 million in 2024 compared to 2023," according to CNBC.
READ: HR Guide to Layoffs
UAW Reaches a Tentative Deal with GM
For weeks, HR Exchange Network has been following the labor union strikes and negotiations between the UAW and Ford, General Motors (GM) and Stellantis. Since last week, labor has achieved big wins. The UAW reached tentative agreements with all three auto makers. Reuters describes the negotiations as hard-fought wins for UAW. The new deals include increased, wages, improved retirement, cost-of-living adjustments, and more.
HREN Talks Menopause at Work
HR Exchange Network hosted a conversation with WebMD and Limeade about navigating menopause at work. The response has been overwhelming. You can check out part 1 and part 2 of this popular, engaging, and thought-provoking conversation that is helping women remove the stigma, speak their truth, and gete support from their colleagues and employer.
[inlinead-1]
Photo by Mikhail Nilov for Pexels