The pandemic has resulted in a change in career choices, and women’s ‘work days’ increasing by five hours.
Millennials are waiting for the pandemic to subside before jumping jobs, and remote working is allowing employees to speak up in the workplace and leading to higher employee satisfaction. Meanwhile, small companies in the UK are exploring the conversion of emergency bounce-back loans into employee equity stakes.
Remote working amplifies employees’ voices
According to new data, employers who have committed to supporting remote work appear to be creating more inclusive work experiences.
Looking at aggregated data from millions of employee-engagement survey responses from over 600 companies around the world, Glint’s latest analysis shows that employees at remote work-friendly firms were 14 percent more likely to agree they feel safe to speak their minds and nine percent more likely to report that their leaders value different perspectives, compared to their peers in companies that haven’t enabled remote working, reports The HR Director.
Pandemic increased women’s ‘work day’ by five hours
To understand the impact of the colossal shift on employees’ wellbeing and support them through this time, a predictive people analytics AI bot has interacted directly and discreetly with approximately 100,000 employees across 451 locations across India to help leadership find hidden gaps in their culture and bolster great employee experiences, even in the remote world.
The report found that although business halted, employee engagement did not. In fact, an upward trend in employee satisfaction was noted during the pandemic.
The data indicated that a lot of work still needs to be done when it comes to employee experience across genders. The pandemic added an average increase of five hours to a woman’s “work day”, reports People Matters.
Plan to turn loans to employee ownership trusts
Struggling companies should be given the option to convert emergency bounce-back loans into employee equity stakes, say small firm representatives in the UK.
Thousands of firms have received 100 percent state underwritten loans worth up to £50,000. Turning them into employee ownership trusts would help viable businesses survive, says the Federation of Small Businesses and Ownership at Work who have launched a Shares for Debt Recovery Plan.
More than 1.5 million bounce-back facilities have now been approved, with a collective value of more than £46.5 billion, according to Daily Business.
Pandemic-fuelled career choices
Whether by choice or by force, many Americans have been re-evaluating their careers and whether they are on the right path, reports Reuters.
In a survey from Indeed.com, 27 percent of unemployed job seekers are looking to switch fields.
According to Prudential’s Pulse of the American Worker survey, 25 percent of respondents said they were planning to search for a new employer after the pandemic subsides. Among Millennials that number is even higher, at 34 percent.
