Howdy, friends! Did you leave your shoes outside for St. Nicholas last night? Even on the one day of the year when they might be filled with candy, please keep your kicks on during the workday.
In today’s edition:
🪞 Not a good reflection
Paycheck to paycheck
Coworking
—Courtney Vinopal, Amanda Schiavo, Adam DeRose
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Francis Scialabba
In the HR field, there’s no shortage of titles to describe exactly what employees do.
Some companies have moved away from the traditional CHRO title for their HR chiefs, instead calling them chief people officers or chief human experience officers. As the field grows, so do the roles and responsibilities of folks working in it—a January LinkedIn report documented niche titles for HR professionals, for example, such as “human resources analytics manager” and “employee experience manager.”
The proliferation of responsibilities assigned to HR employees may be leading to a mismatch between work expectations and work execution, according to a recent poll conducted by Harris Poll in partnership with HR Brew. Most HR pros see a disconnect between their title and the actual work they do, the survey found, and want more training and development from their companies.
Keep reading here.—CV
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From juggling deadlines to navigating personal challenges, stress can build up at work. Support your team’s journey toward better mental health with practical, helpful tools from Headspace.
Headspace provides mental health care and mindfulness practices anytime, anywhere. Their flagship app makes mental health support accessible to everyone, no matter their background or experience.
Headspace offers cost-effective mental healthcare—backed by science, btw—as well as guided meditation, clinical services, and a full EAP replacement that can help improve productivity, employee retention, and company culture.
Mindfulness is just a tap away. Get started.
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Vectorinspiration/Getty Images
Even if someone is employed, they might not be financially healthy.
Some 61% of Americans are living paycheck to paycheck, up from 58% in March of this year, according to a September CNBC survey. About 5.3% of the US workforce holds multiple jobs as of October 2023, according to the Bureau of Labor Statistics, a rise from 4.8% in October 2022.
When employees are stressed about their personal finances—and CNBC data suggests that 74% are—it can result in reduced productivity and higher turnover. In fact, 40% of turnover is related to stress, reported Morgan Stanley, and 78% of employees say money is a source of stress. It can cost an employer an average of 120% to 200% of the former employee’s salary to replace them. The impact to both an employee’s overall well-being and to the organization’s bottom line mean it’s wise for employers to prioritize financial wellness.
“At the individual and family level, finance is hard. But it’s also hard from an employer standpoint,” Petrina Thompson, head of client service for financial wellness benefits provider Brightside, said. “People are not present at work, or they are leaving for 25 cents more an hour. [Finance] not only affects the individual and the family unit, but it impacts the organizational and employer unit.”
Keep reading here.—AS
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Here’s this week’s edition of our Coworking series. Each week, we chat 1:1 with an HR Brew reader. Want to be featured in an upcoming edition? Click here to introduce yourself.
Allison Joyce began working at Walmart two years ago. She has been an exec in the talent space at companies including Comcast, Yum! Brands, and PepsiCo. Joyce told HR Brew she’s working at the world’s largest private employer to “create a self-sustaining talent ecosystem.”
It’s a daunting task, considering Walmart employs more than 2 million people worldwide. But to Joyce, that’s part of the draw.
What’s the best change you’ve made at work?
My biggest passion is the talent movement—to me, it’s important to create a talent system that enables and encourages employees to learn and grow in the company. As much as my job is about networking and finding great people to hire, it’s also about how we’re opening pathways and opportunities once we hire those people.
Keep reading here.—AD
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TOGETHER WITH CVS CAREMARK
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Raising standards. Prior authorization (PA) is a standard industry practice, but making the process transparent isn’t. We chatted with CVS Caremark to learn how visibility eases the administrative burden, gets members the treatment they need fast, and raises the bar for care. Read on.
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Francis Scialabba
Today’s top HR reads.
Stat: ChatGPT was the most-visited Wikipedia page in 2023, with 49,490,406 page views, according to the crowdsourced encyclopedia site. (Associated Press)
Quote: “It will take years of sustained, sufficient funding…for the agency to recover from a workforce and service crisis that was years in the making.”—Kilolo Kijakazi, acting Social Security Administration commissioner, on persistent staffing woes at the agency (the New York Times)
Read: Spotify “wrapped” its year by reducing its workforce by 17%. (Business Insider)
Take care: Invest in your employees and your org with Headspace’s enterprise offerings. Make mental health support accessible to everyone—no matter their experience or background—with everyday mindfulness tools like meditations and focus exercises. Get started.* *A message from our sponsor.
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Struggling to strike the right balance for your dispersed workforce? No matter where your employees are stationed – be it in the office, at home, or a blend of both – this event will unravel the complexities of nurturing a workforce that thrives. We will discuss with Greg Hill, Chief People Officer at Exos, the art of sculpting programs that genuinely prioritize employee care.
Register now!
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