20 May DEAR BOSS, HERE IS HOW TO KEEP YOUR EMPLOYEES; FEMALE DIRECTORS CLUB – IT’S REALLY CLUBBY.
Welcome to this week’s business and media intelligence update.
DEAR BOSS, HERE IS HOW TO KEEP YOUR EMPLOYEES
With the unemployment rate at its lowest since the mid-1970s, companies are having to go above and beyond to attract new workers – and hold on to their existing ones.
Australian Bureau of Statistics data out this week showed while wage growth continues to be outpaced by inflation, unemployment dipped to 3.9 per cent. The last time the unemployment rate was that low, ABBA’s Waterloo was racing up the charts, The Godfather Part II hit the screens and Richard Nixon had resigned as US President following the Watergate scandal.
But even with wage growth remaining weak, offering bumper pay packets to existing employees and new recruits isn’t necessarily enough. The Australian Industry Group and recruitment firms say employers are having to make offers that meet workers’ work life balance requirements.
FEMALE DIRECTORS CLUB – IT’S REALLY CLUBBY
Big, listed companies are facing calls to adopt broader recruitment methods after a survey found the same women are being selected for directorships.
The Governance Institute of Australia found that in the last year, 127 female directors held 48 per cent of female-occupied seats on boards, an average of 2.5 seats per person.
Governance Institute chairman Pauline Vamos said the danger of recruiting from a small pool of women could lead to some sitting on too many boards and hinder the injection of fresh talent.
TAKING TO THE SKIES … FINALLY!
What do Goldman Sachs, Bumble, Netflix and LinkedIn all have in common?
They offer unlimited holiday leave to their employees.
Investment Bank Goldman Sachs announced this week that there would be no limit on paid leave for senior staff under its new “flexible vacation” plans designed to promote “rest and recharge”.
But, if you are stuck in a cubicle, fear not! You might be heading on a business trip soon.
Data from worldwide airlines and hotel companies show an increase in the number of business travel bookings, with American Airlines, Delta, and Hilton all reporting strong demand and expecting to see individual business travel return to pre-COVID levels by the end of the year.
ONE MORE THING
Source: The New Yorker.
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