Global HR headlines: China plans to create 50 million jobs by 2025, CEs deal with declining executive pay and bonuses
Global recruiters predict an increase in demand for business school graduates.
Executives in Britain log a fourth consecutive decline in their remuneration, largely attributed to the impact on Covid-19 on revenues. Google focuses on under-represented groups within its workforce and sets its sights on 30 percent representativity, while China plans to create 50 million jobs within the next four years. Meanwhile, Apple employees are less eager than the CEO to return to the office and MBA graduates can look forward to a robust job market post-pandemic.
Location-specific working very important to employees
An Apple employee survey has revealed that respondents want the option to work from home and flexible options are important. This as CEO Tim Cook requests employees to return to the office three days a week from September.
Nearly 90 percent of respondents said they “strongly agree” with the statement “location-flexible working options are a very important issue to me”, reports The Verge. Employees defined “location-flexible” as the option to work from home indefinitely.
Google sets 30 percent diversity target by 2025
Google plans to increase representation of underrepresented groups by 30 percent by 2025. In the US, the multinational technology company doubled the number of black employees in its leadership team to 7.1 percent from 3.6 percent the year prior. The number of women in Google leadership globally rose from 26.7 percent to 28.1 percent.
Despite this, Google's US workforce is 68 percent male and 32 percent female, according to a report in ET HRWorld.
China sets its sights on 50 million new jobs
China aims to create more than 50 million new urban jobs from 2021-2025, Xinhua news agency has reported.
In China's five-year plan unveiled in March, the government set a target of keeping its survey-based jobless rate within 5.5 percent for 2021-2025, without setting a goal on new jobs. The government has said it aims to create more than 11 million new urban jobs in 2021, reports Reuters.
China will continue to improve its social security system and steadily increase the retirement age over the next five years, Xinhua quoted the ministry as saying.
Covid-19 cuts to CE pay
The median pay of chief executives at Britain's top companies fell for the fourth straight year to £2.85 million (~R56 million) in 2020, according to Deloitte.
The drop, from £3.3 million (~R65 million) in 2019, came as many bosses took pay and bonus cuts in response to the hit to revenues caused by the Covid-19 pandemic, and after pressure from investors to rein in remuneration, reports Reuters.
MBAs may soon be in demand again
MBA hiring may soon get out of the pandemic lull. A recent report revealed corporate recruiters project a robust demand for business school graduates, with nine in 10 of them expecting it to increase or remain stable in the next five years, according to TNN Agency.
Furthermore, a higher proportion of recruiters in 2021 (37 percent) expect demand to increase from that of the previous year (30 percent), with more than half the European recruiters (54 percent) sharing such a view compared with their Asian (32 percent) and American (34 percent) counterparts.