Quarterly Fast News for Business Leaders & HR/Organizational Development Professionals:
(With our compliments, please enjoy the following reader in 4 Minutes or Less. (We know you’re busy!) Quarter 2, 2007
Unclear Expectations Top Reason New Hires Bail
Unrealistic expectations about their job and their new organization is a major reason why as many as 1/4 of new hires leave within the first year, says a survey of more than 2,000 HR and training executives. 33% of employers see between 10% and 25% of their new hires leave, voluntarily or involuntarily, and another 11% of employers see between 25% and 50% of new hires leave. (www.shrm.org)
Work-Life Balance...Anyone???
91% of employed adults say that workers are more likely to behave ethically at work when they have a good work-life balance, according to a survey on behalf of Deloitte & Touche USA. (hr.blr.com/news) Against that info, Forbes reports "To get ahead, a 70-hour work week is the new standard." (msnbc.msn.com) According to the Chicago Tribune, 36 minutes per day, or 3 hours per week, is estimated the average workday portion devoted by employees attending to personal business.
Students Paying to Find Internships: Unpaid Internship Opportunity for Employers
A slew of businesses (college temp services) have popped up to help match students with internships, charging hundreds to thousands of dollars to help them write resumes, identify potential employers and find summer housing. About 3/4 of all college students have had internships or some type of professional work experience by the time they graduate. Students pay from $6,499 to $8,999 to have the company find them an eight-week summer internship, plus housing in dorms at universities, some meals, transportation to work and activities for a summer. Employers are encouraged to post internships directly with campus recruiting. Most campuses offer summer housing at reduced rates. Students are likely to prefer even unpaid qualified internships over those that charge them to work! (chicagotribune.com/business)
Wall Street Journal Acknowledges HRS "Expert" Competencies
WSJ Reporter, Dana Mattioli, tracked down HRS CEO, Jessica Ollenburg, on her cell while visiting Scottsdale AZ to establish the next HRS location! HRS provided expert "source" comments and HRS survey findings to an upcoming piece to be published this month. We pledge the continuation of cutting edge capabilities to stay on the radar! (More HRS In the News!)
Jessica Ollenburg, HRS CEO, Receives Distinguished Service Award!
The Arthritis Foundation Wisconsin Chapter Board has recognized Jessica & husband, John Ollenburg, with this year's "Distinguished Service Award!" A May celebration is planned with press releases to follow.
A "Pat on the Back" Keeps Workers Positive
70% of employees who work for "high recognition" managers say they have a high desire to be working for their current company a year from now. That's compared with 24.7% of workers who work for "low recognition" managers. (baltimoresun.com/business). HRS Employee Motivator & Magnet Surveys validate and further explain these findings. (Visit recent findings) 2007 results to be released May 3.
HRS Partners Again with Wisconsin Business & Technology Expo!
Not only an exhibitor but also facilitating the workshop: Employee Magnets & Motivators: Powerful Solutions in a Shrinking Labor Market, May 3rd at 1:45pm. Our workshop releases 2007 survey results (more than 2800 responded to a 2-stage survey), delivers powerful solutions and invites interactive employer brainstorming and case studies. (Seminar Details) Complimentary tickets are available through HRS or by registration on line at www.biztimes.com/expo.
Unemployment Rate Shrinks Again to 4.4% in Mar 2007! (Data)
Hiring Rise for Recent College Graduates
Job prospects and starting salaries for recent college graduates are trending upward, according to CareerBuilder.com's annual survey. 79% of hiring managers plan to hire recent college graduates this year, up from 70% in 2006. 24% expect to hire more recent college graduates in 2007 compared to last year, and 42% plan to increase starting salaries. (careerbuilder.com article)
Pension Plan Limits for 2007
The Internal Revenue Service has announced that many of the pension plan limitations that are adjusted for inflation will increase for tax year 2007. (cbia.com/HR). The IRS recently announced a 3.3% COLA and offers a fact sheet regarding cost of living adjustments.
HSA Plans Boom!
The number of Americans covered by high-deductible health plans in conjunction with health savings accounts (HSAs) rose 43% from 2006 to 2007, according to a report by America's Health Insurance Plans (AHIP). 88% of HSAs in place in 2006 had average annual balances of $2,500 or less. As of January 2007, 65% of accounts had been in place for less than one year. (hr.blr.com/news)
Video Resumes the New Thing?
CareerBuilder.com announced plans to be the first major online job site to launch a new video resume service. Set to launch in the second quarter of this year. (careerbuilder article) We shall see what comes of this…
Legal Update: Electrical Standard Final Rule, In Effect 8-13-07.
According to Jerry Modjeska @ OSHA, electrical standard sections 300-309 are reissued and revised to better protect employees. (osha.gov update)
Phoenix Office In Final Stages Before Opening!!!
Already serving our treasured clients at national and global levels, new offices nationwide are being established for client convenience, starting with a Phoenix, AZ office opening in the coming weeks. Controlled growth shall continue, ensuring that expansion will not impede our quality and customized personal service dedication. HRS strengthens team again with more new additions!
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