Recent high-profile victories by labor unions, are expected to bolster union activities in 2025, according to Moody's Ratings. Despite only 6% of the private sector workforce being unionized, unions have achieved significant wins, potentially impacting employer profitability but also reducing employee turnover. Moody's notes that while union activities may increase labor costs, they also enhance worker retention, particularly in low-wage industries. Full Story: CFO Dive (11/1)
Clinical psychologist Michelle Drapkin provides guidance on distinguishing between typical anxiety and disorders, and offers strategies for managing anxiety in a professional setting. Drapkin suggests talking to fellow employees first to see if they are experiencing the same thing. "I think often starting with peers and connecting," Drapkin says. "We tend to think we could solve our own problems when we really need to connect with other people." Full Story: Harvard Business Review (tiered subscription model) (11/4)
AI improves recruitment with efficiency and bias reduction The AI recruitment market is projected to hit $942.3 million by 2030, according to Market Research Future. AI tools help recruiters by automating tasks like candidate sourcing and resume screening, reducing human bias, and supporting diversity, equity, and inclusion initiatives. They also facilitate internal hiring, which can lead to significant cost savings and higher employee retention rates. Full Story: Training magazine (10/11)
Benefits & Compensation
IRS announces 2025 contribution limits for IRAs, 401(k)s The annual employee deferral limit for 401(k)s and other workplace plans is rising to $23,500 next year, $500 higher than in 2024, the IRS has announced. Catch-up contributions for those 50 and older will remain at $7,500, but those aged 60 to 63 will be eligible for a higher limit of $11,250. Meanwhile, the IRA contribution limit will stay at $7,000. Full Story: USA Today (11/3)
The HR Leader
Tips for managing political talk at work during elections Managing political discussions at work is crucial to maintaining a respectful environment, especially as Election Day approaches, writes David Grossman, APR, Fellow PRSA. Leaders should remind employees to treat each other with respect, communicate company values, create a safe space for expressing concerns and know when to address political issues. A structured approach to potentially controversial topics can help protect employee well-being and the company's reputation, Grossman adds. Full Story: PRSAY (11/4)
SmartBreak: Question of the Day
In the hotly contested, four-candidate 1824 presidential election won by Andrew Jackson, which candidate was eliminated from contention prior to the decision?
Anxiety is real and no respecter of persons. It affects people of all ages, races, genders and socioeconomic backgrounds. For those who battle this beast, it can be debilitating –--especially in the workplace. It can disrupt one’s ability to think straight and function. But there are ways to manage it, as we see in today’s Recruitment & Retention story from Harvard Business Review. Clinical psychologist Michelle Drapkin takes a deep dive into the nuances that define anxiety disorder and offers suggestions for addressing it. I like that she encourages people to discuss challenges with colleagues. That does mean being vulnerable (which can be uncomfortable), but they get it. They understand. Just having that type of support can make all the difference in a day or a situation. This was a great story. It was practical and informative. I put it in my Pocket and will be sharing it with others who I know battle anxiety. What did you think? Was it helpful for you? Managers, can you use some of these tactics to help identify those who might be struggling on your teams and offer support? Let me know! I'd love to hear your ideas. Do you enjoy this brief? Share it with others. Want different stories? Something about it bug you? Tell me. In the words of Frasier Crane, “I’m listening.”
Sharing SmartBrief on Workforce with your network keeps the quality of content high and these newsletters free.
