Happy Monday! George Washington gave the first State of the Union address on this date in 1790. Washington’s address lauded the success of the previous year along with challenges that lie ahead…sounds like a CEO in 2024, huh?
In today’s edition:
All you had to do was stay
Year of change
World of HR
—Amanda Schiavo, Kristen Parisi
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Edwin Tan /Getty Images
Only interviewing employees when they’re entering or exiting your organization could be why some retention efforts are lacking.
Instead, HR pros may want to consider conducting stay interviews, or regular, one-on-one conversations with staff to gauge their experience at work. Some 27% of HR leaders say they use stay interviews as part of their retention strategy, according to a 2022 Paychex survey.
“You want to convince that person to stay within the organization, because you see them as a valued asset to the organization,” said Trevor Bogan, regional director for the Top Employers Institute, a global HR certification company.
Nuts and bolts. Stay interviews should be conducted on an annual basis, Bogan said. When creating a stay interview strategy, HR should personalize each conversation so employees know their voices are being heard.
Keep reading here.—AS
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What’s the bottom-line impact of corporate learning? That’s a good (and common) question. 46% of orgs say ROI is a challenge, and only 33% say they measure the financial outcomes of corporate learning at all. In the end? Measuring the ROI of learning is, well, tricky.
To maximize—and understand—the impact of your learning investment, snag D2L’s handy guide, Redefining the ROI of Corporate Learning.
D2L and Training Industry asked 300+ learning leaders about measuring the impact of learning programs, how they define success and effectiveness, and what the future could hold for assessing corporate learning initiatives.
In short, class is now in sesh. Grab your free copy of the guide to see what could work for both your employees and your biz.
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Nadia Bormotova/Getty Images
I asked the Magic 8 Ball if DE&I will have a good 2024 and it told me, “Ask again later.”
But instead of going back to the Magic 8 Ball, I asked DE&I experts what other leaders should expect next year. The results? More of a “Reply hazy” than anything else.
Belt tightening. Many organizations reduced DE&I budgets in 2023, and Jarvis Sam, founder of the Rainbow Disruption, a DE&I consultancy, and former chief diversity officer at Nike and Snap, believes that trend will continue in 2024. “Organizations are trying to balance their approach to government and public affairs,” he explained. “That’s going to come at odds with each other, as the political landscape intensifies, and as we will see politicians particularly in more public, national and state debates, using DE&I as a lynchpin point of discussion and decision-making.”
Legal DE&I. Experts believe that the industry will see more reverse discrimination lawsuits as a result of the politics associated with DE&I. Debra Steiner Friedman, a labor and employment attorney, believes the reverse discrimination cases could cause a shift in DE&I, as organizations may try to limit any litigation risks. “Employers will review their programs and policies in light of the US Supreme Court case,” she said, referencing affirmative action. “Employers may be less likely to tie compensation to meeting certain demographic metrics.”
Keep reading here.—KP
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Francis Scialabba
There are a lot of things I’d love to get paid for at work, like the number of coffees I drink or the hours of music I listen to, but the time I spend working out isn’t one of them. Still, one company in southeast China is doling out cash to employees for exercising.
Where in the world? Guangdong Dongpo Paper, a Chinese company with around 100 employees, plans to pay employees monthly bonuses based on how much they jog, according to Bloomberg. The bonuses may range from a pair of running sneakers to 130% of one month’s salary.
Satellite view. Last year, Nutrition Solutions, a US-based meal-prep company, said it pays its employees extra for exercising, CNBC reported. If employees attend a workout class before their shift starts, they’re paid for that hour, based on their hourly rate.
But not everyone believes that paying employees to exercise is a good idea.
Keep reading here.—KP
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TOGETHER WITH CVS CAREMARK
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Innovative care is here. From breakthroughs with GLP1 medications to the wave of biosimilars hitting the market, healthcare is entering a new era. To help plan sponsors keep up, we chatted with the CVS Caremark team about everything from speeding up prior authorization to managing treatment costs and improving the member experience.
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Francis Scialabba
Today’s top HR reads.
Stat: 51% of employers say that employee satisfaction is their organization’s top goal. (Integrated Benefits Institute)
Quote: “There might be a realization that to make progress on DE&I, you need core decision-makers throughout the business. This is not a separate team, sitting in a separate office that’s going to drive those outcomes.”—Joelle Emerson, CEO of DE&I strategy firm Paradigm, on how companies are changing their approach to DE&I (Fortune)
Read: AI is expected to impact how employees work and how HR leaders hire in 2024. (BBC)
Read up on ROI: How do modern organizations calculate the ROI of corporate learning? They can start with D2L’s guide, Redefining the ROI of Corporate Learning, to see how fellow learning leaders measure impact.* *A message from our sponsor.
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