Millennial Retention, New FMLA Poster Requirement, and more

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The OperationsInc Navigator
May 13, 2016

Student Loan Debt Blamed for Millennial Focus on Salary Levels, Job Hopping

 

CBS Moneywatch reports that student loan debt has ballooned to a staggering $1.3 trillion, with only 37 percent of those with student loan debt up to date on their payments. Moneywatch reports that most millennials stay in their jobs for 12 to 18 months, and the news outlet attributes the fact that millennials will so readily jump ship for a higher paycheck to the fact that an estimated 45 to 60 percent of millennial income is consumed to cover debt, combined with the “I’m worth it attitude” many millennials have adopted. Monewatch says that many employers have begun to offer student loan assistance programs to millennials not only to attract this talent, but to get them to “stay put”. 

 

 

95% of Companies Admit to Poor Hiring Decisions
A recent survey conducted by Glassdoor found that 95 percent of employers surveyed said that they had made hiring mistakes in the past year, and even more alarming, only 30 percent of that population was aware of the staggering economic costs of bad hiring decisions. Business2Community has released a list of five talent selection process errors that lead to bad hires that include non-standardized interview processes and having a weak employer brand. 

 

New FMLA Poster Requirements

Late last month, the Department of Labor (DOL) announced the coming release of a new mandatory Family and Medical Leave Act (FMLA) poster. Employers who are covered under the FMLA are required to display the new FMLA notice in an area where it can be easily seen by employees. The new poster has not yet been issued, but employers should speak with their labor law poster providers in preparation.

NYC Issues Protections for Workers with Caregiving Responsibilities
A new law in New York City bans NYC employers from discriminating against an employee for being a “caregiver”. Made effective May 4, 2016, the law defines a “caregiver” as a “person who provides direct and ongoing care for a minor child or a care recipient”. Employers are not allowed to fire, demote, or refuse to hire based on a worker’s “caregiver” status. The NYC Commission on Human Rights has also provided a definition for “care recipient”, and will be the agency responsible for enforcing the new law. 

 

MSNBC Your Business: Managing the Discussion on National Politics in Your Office

 

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