Initial jobless claims held steady at 262K | 6 ingredients for "secret sauce" of employee retention | Why hybrid schedules don't necessarily mean less office space
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Initial jobless claims were unchanged at a seasonally adjusted 262,000 last week, according to the Labor Department, which also revised the previous week's number upward by 1,000. The four-week average of weekly claims climbed to almost 247,000, gaining 9,250 to reach the highest mark since November 2021. Full Story: MarketWatch (tiered subscription model)/Dow Jones Newswires (6/15)
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Recruiting & Retention
6 ingredients for "secret sauce" of employee retention Hinda Mitchell, the founder and president of Inspire PR Group, discovered the "secret sauce" of employee retention by asking a long-term team member why they stayed. Mitchell received a six-part answer that included mentoring opportunities, being trusted, and having work that felt purposeful and challenging. Full Story: SmartBrief/Leadership (6/15)
Employer-sponsored savings plan balances fell in 2022 A Vanguard report found that the average balance in employer-sponsored savings plans reached $112,572 in 2022, dropping 20% from year-end 2021 mostly as a result of a decline in equity and bond markets over that time period. The median balance fell from $35,345 in 2021 to $27,376 last year. Full Story: CNN (6/15)
The HR Leader
Are you developing "big-T" and "little-T" leaders? Companies should develop two types of "T-shaped" leaders who have knowledge across the company while providing expertise, writes Harvard Business School lecturer Hise Gibson. "To create T-shaped leaders at scale, the organization's most senior executives must understand the company's talent -- what types of leaders they have and what they need," writes Gibson, who recommends companies develop strategic-thinking "big-T" leaders and tactical "little-T" leaders. Full Story: Harvard Business School Working Knowledge (6/14)
Lunch hours could replace happy hours as 68% of workers would rather get together with co-workers during the working day as opposed to the evening, according to ezCater research. Workers and experts also say lunches can be more inclusive than alcohol-fueled evening occasions. Full Story: WorkLife (6/16)
Editor's Note
SmartBrief will not publish June 19 In observance of Juneteenth in the US, SmartBrief will not publish Monday, June 19.
SmartBreak: Question of the Day
Which state is the origin of Juneteenth celebrations? Check your answer here.
Last week was the last full week of instruction at our local high schools. One of the schools did a happy hour part for its staff at a local pub. Teachers, principals, paraeducators, coaches and campus security staff all showed up to relax and toast the end of the year. Liquor flowed freely. See where I’m going with this? One of the campus supervisors, Chet*, had too much to drink. He began flirting with the principal. He got loud as he talked with other folks. He was unsteady on his feet. And when he got called to the stage to accept the “Campus Supervisor of the Year” award and give a short speech, his words were slurred. It wasn’t pretty. A friend of his, another campus supervisor, quickly approached him to help and keep an embarrassing incident from happening. “Dude, you need to slow down,” he told Chet. Situations like this -- and the HR disasters they can cause -- are why some organizations are ditching the after-work drinking fests for the mid-day lunch gatherings, as we see in today’s Workplace Chatter story. I remember watching my HR team at our last holiday event. Each HR staffer was stationed in a different spot of the room, watching the gathering. I’m guessing they would have preferred a lunch -- sans alcohol -- where there’s less risk of embarrassing situations and projectile vomit. Thoughts? Does your organization still favor happy hour-type events? What sticky situations have you seen at these or similar functions? Let me know! And if you enjoy this brief, tell others so they can benefit also. *Name changed to preserve subject's privacy.
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