Global HR headlines: UK job market looks to graduates, Meta freezes positions

Australian study shows that men out-earn women at every stage of their working life.

Facebook’s Mark Zuckerberg tells employees to brace for a deep economic downturn as he announces a decision to reduce recruitment plans, while the Workplace Gender Equality Agency finds that men in Australia out-earn women at every stage in their working life. Meanwhile, advertised graduate salaries in the UK have risen to a six-year high as companies scramble to fill vacancies.

More roles, higher salaries for UK graduates
Advertised graduate salaries in the UK have risen to a six-year high of $32,000 (R525,202), according to research from job search site Adzuna. The number of vacancies on offer has increased 59 percent from a year ago.

The data shows how companies are looking to graduates to help ease the tightest jobs market in decades, offering more roles and higher starting salaries.

“This is the strongest jobs market we’ve seen for graduates post-pandemic,” said Paul Lewis, chief customer officer at Adzuna. “Plenty of sectors remain desperate for talent and looking to grads to fill those gaps. It’s a welcome piece of good news for the Class of 2022, who battled remote learning and pandemic pressures.”

Australia’s men out-earn women at every work stage
Men in Australia out-earn women at every stage of their working life, with the pay gap the most pronounced at the peak of their careers, according to data from the Workplace Gender Equality Agency (WGEA).

The gap is widest between the ages of 45 and 64, where men earn more than 30 percent extra per year, or more than $27,740 (R455,280), on average, according to a new WGEA report.

C-Suite prioritises profitability over employee experience
Ivanti’s State of the Digital Employee Experience (DEX) study has found that 49 percent of employees are frustrated by the tech and tools their organisation provides and 64 percent believe that the way they interact with technology directly impacts morale.

Conflicting views remain between C-Suite, IT, and employees when it comes to the future of work and technology’s role in enabling the culture of hybrid work. Globally the C-Suite’s number one priority was employee productivity, with workplace culture and employee satisfaction falling further down the list. Furthermore, 62 percent of the C-Suite concedes that leadership prioritises profitability over employee experience.

Meta braces for deep economic downturn
Facebook-owner Meta Platforms has cut plans to hire engineers by at least 30 percent this year, CEO Mark Zuckerberg told employees, as he warned them to brace for a deep economic downturn.

“If I had to bet, I’d say that this might be one of the worst downturns that we’ve seen in recent history,” Zuckerberg told workers in a weekly employee Q&A session, audio of which was heard by Reuters.

Meta has reduced its target for hiring engineers in 2022 to around 6,000 to 7,000, down from an initial plan to hire about 10,000 new engineers, Zuckerberg said.

Meta confirmed hiring freezes in broad terms last month, but exact figures have not previously been reported.

In addition to reducing hiring, he said, the company was leaving certain positions unfilled in response to attrition and “turning up the heat” on performance management to weed out staff unable to meet more aggressive goals.