McKinsey study finds that changing roles frequently, stretching skills are key to upward mobility.
Billionaire Elon Musk takes the hard line on working remotely, telling Tesla employees to return to the office or “pretend to work somewhere else” and sets the cat among the pigeons at Twitter with reports that employees at the social media platform will soon be dealing with a restructuring. Meanwhile, Seattle introduces the Pay Up law, which aims to bring gig workers into the minimum wage fold, thereby providing more stability and security to drivers and delivery workers.
Change roles frequently, make bigger moves for upward mobility
A new report from the McKinsey Global Institute and McKinsey’s People & Organization Performance Practice, Human capital at work: The value of experience, has found that work experience accounts for more than half of the average person’s lifetime earnings – but often far more for people with less education.
The study used big data to analyse real-world work histories (drawing on four million professional profiles from Germany, India, the US, and the UK) and 10s of thousands of job postings to trace career trajectories, looking at the specific bundles of skills required in each role someone held over time and how moving into new roles affected their earnings. The study also found that the key to upward mobility for workers is changing roles frequently and making bigger moves that stretch their skills.
Working remotely no longer acceptable at Tesla
Tesla boss Elon Musk has ordered staff to return to the office full-time, declaring that working remotely is no longer acceptable.
The new policy was shared in emails that were leaked to social media.
People who are unwilling to abide by the new rules can “pretend to work somewhere else” Musk said on Twitter, when asked about the policy.
“Everyone at Tesla is required to spend a minimum of 40 hours in the office per week,” he wrote in one of the emails, according to the BBC. “If you don't show up, we will assume you have resigned.”
Employees aflutter at Twitter
Twitter employees are enduring the whiplash of public commentary from the social network’s future owner, a changeover in leadership and a hiring freeze, reports Bloomberg.
Executives told workers of plans to pull back resources for some long-term ambitions in favour of focusing on more immediate needs, like user growth and personalisation efforts, according to people familiar with the matter. That means many employees will be shuffled within the company’s consumer product group, the people said.
Pay Up law brings gig workers into minimum wage fold
The new Pay Up law in Seattle requires companies that employ gig workers to guarantee they are paid at least a minimum hourly rate, part of a larger movement to provide more security and stability to drivers and delivery workers.
A recent Gallup survey found that 36 percent of US workers participate in the gig economy through primary or secondary jobs, and jurisdictions around the world have passed or are working on laws to give drivers and others more security and stability.