TALENT MANAGEMENT,EMPLOYEE BENEFITS
WorkFaith | August 03, 2022
WorkFaith announced WorkFaith Now, a new online learning platform for job seekers and employees. WorkFaith Now offers self-paced job readiness and career development courses at no cost to both individuals looking for work and staffing agencies who want to upskill their clients.
"WorkFaith Now is a transformative digital platform that gives 24/7 access to faith-based training and coaching opportunities. No longer is time or transportation a barrier for those who need immediate access to critical job resources, When you access WorkFaith Now, you can expect to receive essential job training skills that have helped thousands of individuals obtain employment over the years. WorkFaith is an industry leader in workforce development, and has a vetted process that caters to individuals looking for long-term employment."
-Nick Hardy, Chief Program Officer at WorkFaith
Features of WorkFaith Now include:
24/7 access from a smart device
Engaging on-demand content
No cost to the user
WorkFaith Now will be available starting August 1.
WorkFaith is a organization that provides faith-based training and coaching for anyone who desires long-term employment. WorkFaith has helped thousands of people find work and achieve long-term success for over 16 years.
Tandym and Longford & Company | August 04, 2022
Tandym Group, a leading national recruitment, contract staffing, consulting, and workforce solutions company, has acquired Longford & Company, a Boston-based technology consulting and executive search company. Terms of the transaction were not disclosed. Tandym is backed by Mill Rock Capital, a growth and operations-oriented private investment firm that invests in well-positioned industrial businesses in North America.
Longford provides technology consulting and executive search services, primarily to clients in the Life Sciences, Pharmaceutical, and other industries. The acquisition further enhances the scale and scope of Tandym Tech, Tandym's technology vertical, and comes shortly after Tandym's acquisition of Metro Systems. As a result of this partnership with Tandym, Longford's clients will be able to access a broader range of services and expanded capabilities. It also strengthens Tandym's position as a trusted technology partner to its clients.
"Longford has a sterling reputation in Life Sciences, In addition to having an outstanding industry track record, Longford shares our commitment to delivering exceptional client service through a high-touch, highly personalized approach."
-Larry Dolinko, CEO of Tandym
We're incredibility excited to join forces with Tandym, Tandym is aligned with our commitment to service excellence, honesty, and creating value for our clients or candidates. With Tandym's infrastructure and broad service offerings, we'll be able to provide tailored solutions for our partners on a greater scale and at a national level,added Sean McCourt, Founder and Managing Director of Longford.
Charles Heskett, Executive Chairman of Tandym and Senior Partner at Mill Rock Capital, added, Longford's deep-rooted relationships in the Life Sciences industry in Boston and New England will foster commercial collaboration with Tandym's Life Sciences vertical. We are very excited about the expanded scope of services the combined platform can offer to the Life Sciences industry at large.
About Tandym Group
Tandym Group (formerly The Execu|Search Group) is a leading national recruitment, contract staffing, consulting, and workforce solutions company with offices throughout the U.S. The company serves clients across a broad range of verticals, including Healthcare, Technology, Life Sciences, and Professional Services (which includes Accounting, Financial Services, HR/People & Operations, and Legal). For more information, please visit: tandymgroup.com
About Longford & Company
Longford & Company is a strategic consulting and executive search firm committed to helping their clients solve technology and business problems. Longford focuses on providing highly specialized consultants on a wide range of technology and business-related projects and performing executive level search services for various industries.
About Mill Rock Capital
Great Mill Rock LLC dba Mill Rock Capital is a growth and operations oriented private investment firm that invests in well-positioned middle market industrial businesses in North America. Founded by Christopher Whalen and Adi Pekmezovic, Mill Rock Capital is purpose-built to invest in family-owned businesses, owner-operators and founder-led companies across six industry verticals. Focus sectors include chemicals, materials and packaging; industrial distribution; services; metals and engineered materials; transportation and logistics; and specialty manufacturing and industrial technology. This strategy leverages the deep expertise of the firm's principals, a majority of whom have direct operating experience in these same industries. Mill Rock Capital supports business transformation through a dual-sourcing strategy encompassing majority equity and Activ Capital® – debt, senior equity or hybrid investments which provide business owners value-added financial partnership without relinquishing a controlling stake.
Paychex | August 01, 2022
New research from Paychex, Inc., a leading provider of integrated human capital management software solutions for human resources, payroll, benefits, and insurance services, explores the challenge of employee retention and the key drivers motivating employees when making choices about their career paths. With 4.3 million people quitting their jobs as recently as May 2022, the survey of more than 600 U.S. workers provides insight employers can use when developing strategies for increasing retention.
The study—which was conducted in partnership with Future Workplace, an Executive Networks member company—revealed a gap between the employer perceptions and employee sentiments related to retention. When asked about factors (other than compensation and benefits) that contribute to their decisions to stay in with their company, 30% of respondents indicated that perceived job stability is their most important motivator and 60% ranked it in their top three. Feeling that the work was meaningful (45%) and having a passion for their field (33%) were the second- and third-most-popular answers, respectively. Reasons related to employers' brands (19%), corporate culture (19%), and products (13%) are the least important to employees, despite many companies' focus on these elements in their recruiting and retention efforts.
"Research shows that almost half of employees say they do not want to change companies within the next 12 months, but that is never a guarantee that those employees will stick around long-term, The Great Resignation may be slowing, but that doesn't mean companies can take a passive approach. Rather, they should use this opportunity to offer programs, perks, and benefits that meet employees' diverse needs."
-Alison Stevens, director of HR Services at Paychex.
Generation Influences Why Employees Work at Their Companies
While job stability and performing meaningful work ranked among the top two reasons respondents stayed at their companies, Baby Boomers (32%), Gen X (35%), and Millennials (31%) were significantly more likely to cite job stability as the most important reason than Gen Z (14%). Instead, Gen Z (18%) prioritizes meaningful work over job stability.
In addition, Baby Boomers (41%) said that passion for their field and industry are among the most important reasons to work at their company. Gen X (30%) focused on close relationships with coworkers, and Millennials (39%) cited opportunities for career growth. Gen Z (27%) said company growth and success were especially important to them.
Flexibility Reigns as Top Priority for Employee Retention
When asked what would make employees more likely to stay in their roles, respondents noted a desire for more flexible scheduling. Over one-third (35%) of all respondents ranked flexibility in work hours and schedule as the number one reason they'd be more likely to stay at their organization long-term, and 70% ranked it among their top three. It was significantly more likely for Baby Boomers (46%) to say that flexibility would make them more likely to stay at their organizations long-term than Gen X (38%), Millennials (31%), and Gen Z (24%).
Opportunities for career advancement, skills development, and internal job mobility, and increased commitment to work/life balance ranked second and third overall with 50% of employees putting each in their top three most-desired perks. A promise of better work/life balance was particularly compelling to financial services workers (29%) compared to those in leisure/hospitality (10%), manufacturing (11%), education/health services (14%), retail/trade/transportation/utilities (13%), and other professions (11%).
Keeping Employees Long-Term
Health insurance (64%) and retirement plans (62%) are the top two benefits shown to keep employees long-term. However, the research shows that the importance of mental health benefits is on the rise among younger generations. Gen Z (23%) is significantly more likely to say that mental health benefits would make them more likely to stay at their organization long-term than Millennials (14%), Gen X (5%), or Baby Boomers (3%).
Financial wellness benefits (41%), such as tuition reimbursement, professional development stipends, student loan repayment, and child-care support, ranked third among benefits most important for employee retention.
"Perhaps the most compelling takeaway from this study is the confluence of factors that affect employees' decisions to say with a company, Each employee presents a different intersection of the demographics outlined in the study, and the only way to really know what will keep them in their position for the long haul is to ask. Even so, employers rarely do it. We found that only 29% of employees have had what we call a 'stay interview.' These open conversations with employees can give HR staff insights into the unique values of their employee populations to increase retention, even in a difficult labor market."
-Jeanne Meister, the founder of Future Workplace and executive vice president at Executive Networks.
About the Research:
The research findings are based on a survey conducted across the United States between May 4, 2022, and May 11, 2022. For this survey, 604 full and part-time employees at small to mid-size businesses (20-500 employees) were asked general questions to understand employees' thoughts around retention. The study targeted employees who are between the ages of 18 years to 75 years old. This is a survey in a series of research reports administered by Future Workplace that will focus on the employee point of view and pinpoint top concerns, priorities, and trends facing the modern workforce.
Paychex, Inc. (Nasdaq:PAYX) is a leading provider of integrated human capital management solutions for human resources, payroll, benefits, and insurance services. By combining innovative software-as-a-service technology and mobility platform with dedicated, personal service, Paychex empowers business owners to focus on the growth and management of their business. Backed by 50 years of industry expertise, Paychex serves more than 730,000 payroll clients as of May 31, 2022 in the U.S. and Europe, and pays one out of every 12 American private sector employees.