Last autumn, the Boston-based investment firm Zevin Asset Management led a investor push at Starbucks to pressure the coffee chain into expanding its parental leave benefits for hourly store employees to match the more generous policy available to salaried corporate employees. In a shareholder resolution, Zevin requested that Starbucks’ leadership tell its investors whether this discrepancy might constitute employment discrimination.
In January, Starbucks announced that it was expanding its parental leave benefits, as well as adding paid sick leave, for hourly employees. While the changes do not equalize the offerings for salaried and hourly employees, they will make parental leave available to many store employees who were not able to take it before. Zevin considered that a victory, and they and other activist investors have since been pushing for similar changes at other large US employers, Rebecca Gale reports at Slate:
The Starbucks shareholder resolution on paid family leave was the first of its kind, and it has proven so effective that socially responsible investing firms such as Zevin are gearing up to put more shareholder resolutions in place for companies that have unequal paid leave policies, citing the need for what they call “better human capital management,” i.e. better meeting the needs of workers, which they think will yield better long-term results for the companies. And Zevin has the close-knit group of socially responsible investment firms in Boston that regularly meet to learn about issues and connect on ideas to make it happen.
Gartner is projecting worldwide IT spending to reach $3.7 trillion this year, a 4.5 percent increase from 2017, with enterprise software expected to be the fastest-growing component of IT spend, growing by 9.5 percent from $355 billion last year to $389 billion in 2018. HR technologies are among the leading drivers of innovation in this space, with significant spending forecast on software-as-a-service solutions in financial management systems (FMS), human capital management (HCM), and analytic applications. Big data, algorithms, machine learning, and AI are among the technologies expected to drive growth in IT investments in the coming years.
(For readers who want to hear more about our IT spending forecast, Gartner analysts discuss these findings in detail in a complimentary webinar, available on demand here.)
For talent management leaders, this information carries significant implications. In the coming years, technology will inevitably be more embedded into the HR function: The only choice for leaders is whether they want to be on the front or back end of the adoption curve. Technology in the HR realm is advancing at a rapid rate, but the function seems consistently hesitant to take advantage of the opportunities and efficiencies it offers. A wide range of tools are newly available or in development that can help solve perennial HR challenges such as candidate vetting, employee wellness, space management, analytics strategy, recruiting and retaining diverse employees, understanding drivers of high performance, making learning more accessible, or offering digital assistants for all employees.