September 2022
“Quiet quitting” – a newly-coined term referring to pushback on hustle culture – continues to make headlines, but the trend is nothing new. The signs of quiet quitting are identical to those of employees who are “not engaged”; concerned managers should keep an eye out for detachment and burnout, particularly among their younger employees. (The Wall Street Journal)
According to a recently released study, companies that are underperforming are more likely to experience a decrease in racial and gender diversity rates on their boards. While these boards will deliberately seek out new expertise and new perspectives in the belief that it might rescue the organization, they also become less inclusive as executives unconsciously seek directors that have similar backgrounds. (Department of Management and Entrepreneurship, Imperial College London)
Having a best friend at work has become even more important to employee well-being since the start of the pandemic, but unfortunately, managers are facing significant challenges in supporting these connections. Currently, just 20% of employees report having a best friend at work – leaders hoping to promote friendships at work should start by modeling positive interactions and encouraging opportunities for casual communication. (Gallup)
The number of young Americans with apprenticeships has nearly doubled over the past decade, with these types of programs now being offered not just in the trades, but in health care, finance, and tech. Since the pandemic, the hot job market for youth without degrees has made the non-four-year-college career route seem more attractive (and these same drivers are pushing up college enrollment in two-year skilled trades programs as well). (Bloomberg)
More white-collar companies are implementing digital surveillance tools that assign workers “productivity scores,” using them to track activity and idle time around the clock. Managers beware: Any productivity gains from implementing these types of measures are likely temporary, but the resentment and distrust they’ll lead to among employees won’t be. (The New York Times)
While they might have a reputation for job-hopping and corporate risk-taking, Gen Z employees are actually gravitating towards larger, more established companies over smaller startups. Having come-of-age and entered the workforce at a time of unprecedented upheaval, Gen Z value stability and security in their careers and are even more risk-averse than cautious Millennials. (Glassdoor)
Another casualty of the pandemic seems to have been the “power lunch,” as high-end destinations popular with the office crowd lose ground to remote work and fast-casual chains. With people’s availability and location changing day-by-day, it’s more difficult to schedule in-person lunches, and many meetings are now being conducted over Zoom instead. (The New York Times)
Gallup’s retirement tracker shows the impact the pandemic had on the expected age of retirement, with the average age falling by two years in 2021. This drop isn't likely to last though, as it runs contrary to the longer term trend over the past three decades in which the average retirement age has risen from 57 to 61, and nonretirees’ target retirement age has risen from 60 to 66. (Gallup)