EU Pay Transparency and California’s 4-Day Workweek Trial: TOP 5 Trends From The World Of Work
Can California blaze a new trail with their 4-day workweek bill? The largest state in the U.S. is considering a bill that would reduce the workweek to just four days for companies with more than 500 employees. It might be a longshot…But calls for the four-day work week have only grown stronger in recent weeks.
What else matters this week?
The Secretary General of OPEC told the EU that the oil markets crisis in beyond their control.
Why remote work will fully embody the metaverse.
Japanese automaker Honda plans to invest 5 trillion yen, or $40 billion USD, into electric vehicle development.
Women’s pay is growing faster than men’s pay.
Amazon’s plan to fix their massive returns problem.
We’ve got a full breakdown of all the top headlines you can’t miss this week.
#1. California’s 4-day workweek trial could set a new standard
The California legislature is considering a bill that would reduce the workweek to four days for companies with more than 500 employees. Though the bill is considered a longshot, the calls to shorten the workweek have continued to grow louder and more persistent. Proponents of the bill say the shorter workweek will boost productivity, improve work-life balance, and help mental and physical health. But detractors say the 4-day workweek would be a financial disaster and companies would have to pay more for overtime. It’s important to note that with this bill, companies could make workers report to work five days a week, but they would have to pay them for the extra day. A number of companies in the private sector are already testing the 4-day work week, from Shake Shack to Shopify. Read more at Axios.
#2. 3 things hiring managers must do during interviews.
Thousands of workers are re-evaluating their expectations and ambitions amid the pandemic, and, as a result, they are taking steps to change how, where, and why they work. As the war for talent intensifies, it’s more important than ever for hiring managers to secure top talent, according to Adecco’s Jâlie Cohen. How can companies make this happen?
- Throw out conventional job requirements, like college degrees and technical skill sets. It’s time for managers to look beyond traditional candidates and talent pools.
- Prioritize people over process. That means humanizing the interview process and putting people first, instead of optimizing labour costs.
- Rethink how you remonstrate your value proposition. Hiring managers should attract top talent by proactively incorporating their company’s mission and values every step of the process.
#3. EU moves towards pay transparency.
Brussels is working towards boosting wage transparency, but a new report from the European Commission suggests that more needs to be done to overcome the gender pay gap. One study, which examined 1,800 workers in Germany, Poland, and Spain, found that women had a much stronger negative reaction if their pay rates were not equal with their female colleagues. That reaction was much stronger than if the women found out they were being paid less than their male colleagues. Earlier this month, the European Parliament passed legislation that forces companies with 50 or more employees to openly share pay data. Read more here.
#4. Leadership lessons from dogs.
During the pandemic, one in 10 people became new pet owners. Those of us that own canine friends know that they have a positive impact on our physical and mental wellbeing. But who knew that those fuzzy friends could help you become a better leader? Here’s how dogs can help boost your leadership skills:
- Building empathy skills
- Leading with love
- Staying curious
- Investing in training and development
- Communicating your needs
Read more at Forbes.
#5. Organizations should focus on debt-free education.
Many organizations that offer their workers educational benefits offer those benefits with a catch: workers need to pay upfront, and the company will repay a percentage of that investment over time. But this system really limits who can afford to further their education. In many cases, only those with robust savings and prior degrees can afford to take advantage of educational benefits. Is there another way? Data from Walmart and other organizations that employ frontline workers suggest that offering educational benefits at no cost can be beneficial to workers. As a result, employees who take advantage of these benefits are more likely to see salary increases and promotions. Employers, as a result, benefit from attracting talent willing to upskill and reskill themselves – and those workers remain more loyal, as well. Read more at Harvard Business Review.
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