Short-term assignments are becoming more popular among skilled professionals in India, the Economic Times reported this week, with an emerging “white-collar gig economy” in IT implementation, marketing, design, and other fields reflecting these professionals’ desire for more flexibility and control over their careers:
It’s early days, but as more Indians opt for new work arrangements, interest is growing across age and experience brackets. Leading the charge are young employees with five-plus years of experience, confident in their abilities to do well even without the cushion of a permanent job, and mid-career people who have built up a nest egg and now want more flexibility and a work-life balance. …
Three months ago, EY launched GigNow, a tech platform that connects people seeking short-term employment options or flexibility with EY in India. Sandeep Kohli, national director for HR at EY, told ET that over 70 such jobs are on offer on the platform and almost 700 people have applied. Initially, it started with consulting and now it has added finance and HR gigs. The next step is to launch a GigNow for women.
While Indian professional culture has historically put a premium on strong ties between employees and their employers, times are changing. Indian Millennials, like young professionals around the world, are putting greater emphasis on autonomy and work-life balance. Greater flexibility is also seen as a key tool for encouraging Indian women to remain in the workforce after having children. To that end, Indian entrepreneurs are establishing online recruiting platforms and coworking spaces specifically geared toward connecting women with flexible work or facilitating the launch of their own businesses.
A recent analysis by the American Association of University Women found that a sizable majority of all student debt in the US is owed by women—$890 billion out of $1.4 trillion—while individual women with bachelor’s degrees graduate with an average debt $2,700 greater than that of their male classmates:
The newly-released data from the 2015-16 National Postsecondary Student Aid Study also reveal that:
- Women comprise 56 percent of enrolled college students, but hold 65 percent of outstanding student loan debt;
- 71 percent of women have student loan debt at bachelor’s graduation compared to 66 percent of men; and
- Black women graduate with the most debt – at $30,400 – compared to $22,000 for white women and $19,500 for white men. …
The analysis shows how the burdens become compounded by other financial factors – where women take two years longer than men to repay their student loans, in part because of the gender pay gap. Women with college degrees who work full time make, on average, 26 percent less than their male peers, which leaves women with less income to devote to debt repayment. Compared to white men with bachelor’s degrees, black and Hispanic women with bachelor’s degrees make 37 percent and 34 percent less (respectively) and struggle to repay their loans as a result.
The Millennial generation is already known to be struggling with an unprecedented burden of student debt, driven by the rising cost of college, the financial impact of the Great Recession, and other factors. The AAUW analysis adds a new dimension to this problem by illustrating how acutely it affects women (particularly women of color), in combination with the other factors that contribute to their disproportionate levels of financial insecurity.
Today marks the 20th annual observance of Take Your Dog to Work Day, an event launched by Pet Sitters International in 1999 to promote dog adoption by encouraging organizations to let their dog owner employees bring their canine companions to work for the day. Take Your Dog to Work Day highlights Americans’ increasing level of devotion to their pets, especially among Millennials, the largest generation of pet owners today. Rising rates of pet ownership are inspiring employers to offer benefits like pet insurance and even pet bereavement leave.
Indeed, many dog owners would love it if every day were Take Your Dog to Work Day, and some research purports to show that pet-friendly workplaces have many upsides, from increased employee engagement and loyalty to reduced stress levels and greater overall wellbeing. For instance, a new study from Nationwide and the Human Animal Bond Research Institute suggests that employers with pet-friendly workplaces enjoy greater engagement among all employees, not just dog owners, Nick Otto and Yasemin Sim Esmen report at Employee Benefit News:
According to the study, 91% of the workforce feels more fully engaged in the work compared to 65% of employees who work in a non-friendly workplace, which is defined in the study as one that allows pets in the workplace (regularly or occasionally) and/or offers a pet-friendly employee benefit, such as health insurance. One of the interesting things that the study noted was the camaraderie and positive relationships with both supervisors and coworkers (52% and 53%, respectively) at pet friendly companies versus non-pet-friendly workplaces (14% and 19%).
Still, just a fraction of US employers allow employees to bring their pets to work, but some high-profile organizations do: Amazon has allowed dogs in the office at its Seattle headquarters for about 20 years, Jennifer Calfas reports at Time, and over 1,000 dogs come to work there with their owners on a regular basis. What works for Amazon, however, may not work for all workplaces. As Calfas notes, some dogs aren’t suited to spending time in an office, while some employees will object to having them around:
Qualtrics, a customer and employee experience management company based in Provo, Utah, introduced a new bonus scheme in January that focuses on its own employees’ experiences. The new perk, which replaced the company’s $1,000 Christmas bonus, offers employees $1,500 expressly to fund meaningful experiences for themselves and their families. SHRM’s Kathy Gurchiek takes an extensive look at this “experience bonus” and how Qualtrics employees are using it:
At Qualtrics, a full-time employee who has worked at least one year at any of its 14 offices—regardless of one’s job performance rating or review—may submit a form outlining the experience he or she has planned. Qualtrics deposits the money into the employee’s account for that purpose.
“We’re not going to judge and say ‘you should do this or that.’ … We want you to do what’s meaningful for you, and we want to empower you to do something [special],” said [Mike Maughan, head of global insights at Qualtrics], who used his bonus to visit his parents who had moved to Melbourne, Australia. Unused bonus money does not accumulate, as the company wants to encourage employees to savor life.
Qualtrics employees, 80 percent of whom are millennials, have used their bonuses in a variety of ways: diving with sharks, hiking the Great Wall of China, seeing Hamilton from the third row, or launching a charity to raise money for an orphanage in Kenya. The original idea behind the benefit, Maugham said, was to exemplify the company’s culture of wanting the best for its employees, but it has also paid off as a recruiting and retention tool.
One third of Americans under 40 have spent time caring for an older relative or friend, while another third expect to do so in the next few years, a new poll from the Associated Press-NORC Center for Public Affairs Research finds. Furthermore, the burden of caregiving appears to be causing these younger adults more stress than their older peers:
These younger caregivers, age 18‑39, differ from caregivers age 40 and older in several ways. Younger caregivers spend fewer hours providing care compared to caregivers age 40 and older, who are more than twice as likely to spend 10 or more hours a week providing unpaid care (26 percent vs. 63 percent). Although they spend less time providing care, younger caregivers are more likely to report being at least moderately stressed by caregiving (80 percent) than are caregivers age 40 and older (67 percent). While caregivers age 40 and older are disproportionately female compared to the overall population (59 percent female vs. 41 percent male), this is not true of younger caregivers, who are just as likely to be male (48 percent female vs. 52 percent male).
Most caregivers say they are getting the support they need in their elder care obligations, with young adults saying they mostly rely on family for this support and often use social media to solicit the help they need. Younger prospective caregivers, not surprisingly, are more likely than their over-40 counterparts to say they feel unprepared to take on the role, but most say they expect to share these responsibilities with someone else.
The AP-NORC survey also found that most young American adults have little confidence that government safety-net programs will be there for them in their old age: only around 10 percent expect Social Security, Medicare or Medicaid to provide benefits at that time comparable to or better than they offer today. Younger Americans are also unsure of whether they will be financially prepared to their own elder care needs in retirement, with only 16 percent saying they were very confident that they would have the resources to meet those needs.
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Toronto is the crown jewel of Canada’s growing tech sector and a centerpiece of Prime Minister Justin Trudeau’s ambitions to make the country a leader in emerging technologies like artificial intelligence. The city boasts a high-quality research university and a highly educated talent pool. Unfortunately, it’s also starting to experience the same problem faced by other major cities in North America: a shortage of housing, leading to high living costs for young professionals.
The Toronto Region Board of Trade has warned that rising housing costs and a short supply of decent apartments in the greater Toronto area risks harming the city’s ability to attract and retain talent, according to the Star’s real estate reporter Tess Kalinowski:
A survey by the business group last year shows 42 per cent of young professionals would consider leaving the region because of the high cost of housing. That has prompted the board to publish a Housing Policy Playbook in advance of the June provincial election with five recommendations for how the next government should tackle the housing crunch. The proposals range from building condos over transit stations to expediting construction permits. …
As millennials grew into the largest generation in the workforce over the past few years, we’ve been treated to a deluge of breathless media coverage about how uniquely difficult they were to deal with and how they were ruining everything. From chain restaurants to jewelry, along with job loyalty and the 9-to-5 workday, the list of American institutions millennials are charged with killing is nearly endless. Meanwhile, business leaders have wrestled with the seemingly vast complexities their entry to the workforce has created. Most of the work-related challenges have proven to be more myth than truth, as our research at CEB (now Gartner) has found, along with other investigations by the Economist and the Pew Research Center, but the conventional wisdom endures that millennials are entitled, need constant hand-holding, and are therefore unusually hard to manage.
It appears the newest generation entering the workforce, Generation Z, is being similarly prejudged, according a recent survey of managers profiled by SHRM’s Dana Wilkie. In it, 36 percent of managers said they believed that Generation Z would be more difficult to manage than previous generations, while 29 percent believe it will be more difficult to train employees from Generation Z, 26 percent say it will be more difficult to communicate with the newest generation, and even 20 percent of millennial managers believe Generation Z represents a threat to company culture.
“There is a tendency and expectation of instantaneous gratification,” said Jeff Corbin, CEO of APPrise Mobile, the employee communications company which conducted the study. “They want the answers now. They are all about tweets and short responses. As a result, many Gen Zers are going to be too quick to respond rather than deliberate and thoughtful. … [T]he concept of professionalism, formality and quality in communications may be a foreign one to many in Gen Z, which could be problematic to older generations.”