HR ANALYTICS

Remote Workers Lost Nearly $10,000 from Delayed Promotions in Last Year, New BambooHR Study Finds

BambooHR | June 10, 2021

BambooHR, the industry's leading cloud-hosted software provider dedicated to powering the strategic evolution of human resources, today released a new study revealing the average remote worker estimates that they lost more than $9,800 in promotions that were delayed or denied during the last year.

As corporations across the country claim hybrid work is here to stay, the study of more than 1,000 remote workers looks at how the shift in workplace realities is impacting pay, gender, racial and age divides, and how it left more than half of workers (53%) feeling burnt out on a weekly basis. Now organizations must face the fact that nearly one-third of remote workers plan to switch careers or look for a new job in the next six months.

Survey Methodology
BambooHR conducted this research using an online survey prepared by Method Research and distributed by Dynata among n=1,000 adults ages 18-75 in the United States who work full-time in an office/desk job setting and are currently working remotely or have since March of 2020. The sample was equally split between gender groups, with a nationally representative geographic spread of respondents. Data was collected from April 6 to April 15, 2021.

Spotlight

While employee assistance programs (EAPs) have been around for more than 40 years, new changes in the workplace and the expanded need for wellness program offerings have changed the face of EAP and work-life programs. As you evaluate your strategy, consider these 5 questions to ensure that you’re offering employees the best possible resources for their needs.


Other News
HR ANALYTICS, HR STRATEGY

Reejig launches the Reejig Impact Fund at HR Technology Conference and Expo in Las Vegas

Reejig | September 19, 2022

Enterprise-grade workforce intelligence platform Reejig is proud to announce the launch of the Reejig Impact Fund at the HR Technology Conference and Expo in Las Vegas. The Impact Fund is designed to help underrepresented communities unlock career opportunities, growth, and potential. It will donate Reejig's workforce intelligence technology to veterans, skilled refugees and other underrepresented communities, with a goal to reskill, build new capabilities, and remove barriers to career opportunities for all. "Reejig's mission is to create a world with Zero Wasted Potential in business, people, and society. We're not just building technology; we're also creating recurring impact and change for the better. The Reejig Impact Fund is our way of giving back to society by removing barriers to career opportunities for all. When people have fair and equitable access to personally meaningful work no matter their background all of society can reap the benefits" -Siobhan Savage, CEO & Co-Founder of Reejig Reejig is calling on as many people as possible to join the pledge to unlock a world with Zero Wasted Potential. For each pledge, Reejig will gift its workforce intelligence technology to someone from an underrepresented community, giving them access to career opportunities that align to their skills, interests, and potential. The launch of The Impact Fund comes after a huge year of growth for Reejig. The team has grown by over 1000% and opened offices in APAC, NAMER, and the UK. It is rapidly adding to its global enterprise client portfolio with clients such as AWS, KPMG, Woolworths Group, John Holland, and Allianz. Reejig announced last week that it had secured an investment from Salesforce Ventures, adding to its world-class investor portfolio including Skip Capital, headed by Atlassian co-founder Scott Farquhar, Airtree Ventures, and Culture Amp's Didier Elzinga. Siobhan Savage will be speaking at the HR Technology Conference and Expo in Las Vegas, which runs from 13th – 16th September. Siobhan's session, Have you got your Zero Wasted Potential People Strategy? will focus on how HR leaders can create a winning people strategy in this volatile environment. Siobhan Savage, said of being at the conference, We are excited to connect with the world's top people leaders in Vegas this week at HR Tech. We're challenging leaders to approach their people strategy with the same rigor that they would do their supply chain or finances. This starts with knowing who your people are, what skills they have and how you are utilizing them. We created Reejig to give organizations true visibility of their people and their potential, at scale, so they can optimize their workforces and create meaningful careers for everyone involved. About Reejig: Reejig is a leading workforce intelligence platform that enables global organizations to find, retain, and upskill talent at scale. Powered by the world's first independently-audited, ethical AI, Reejig acts as your central nervous system for all talent decisions, enabling zero wasted potential.

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WORKFORCE MANAGEMENT,HR STRATEGY

This HR Tech Company is Solving the Everyday Pain of People Management Challenges for Managers

Culturro | November 28, 2022

Culturro today announced the launch of Risely, an AI coach for people managers and leaders. Risely helps managers in real-time to solve their daily people challenges and, in turn, helps them create high-performing teams. "In my 17 years of career, I have worked with several managers and been a manager to many. In the last five years, we have worked with 200+ managers, and one thing became clear, managers are pivotal for any organization. Managers must ensure that the team performs optimally and meets or exceeds the management's expectations. The team and manager's working relationship impacts the end performance of the team. But often, managers are unaware of their blindspots and have little idea where things go wrong. They deal with different challenges with different people on the team. Bad working relationships impact the careers, health, and well-being of everyone involved. This is why we designed Risely," - Ashish Manchanda, Founder & CEO at Risely Leadership and Manager development is ~30Bn $ market growing 10% annually. But we still observe trends such as #TheGreatResignation and #QuiteQuitting. So, what's missing, we asked ourselves. Most current solutions fail at some point and don't create the correct impact for their clients. There is a clear need for a solution that focuses on people managers' problems, is in the flow of work, works consistently at scale, and doesn't bite the pocket, added Ashish. According to the statement from the company, Risely has been in early access so far with a host of managers from Fortune 500 companies such as SAP, Zalando, Wayfair, Axtria, Caastle, Incedo, Micron, Byju's, and AES, among others. These managers have not only been the early users of the product but have also helped shape it since the early days. Risely has been a game-changer for my team and me. The customized tips my team and I get daily have helped us create stronger working relationships. We are more confident in our ability to deliver on our objectives, says Prashanth BN, AVP Technology at Byju's, an early Risely user. Risely is simple to set up. The manager starts by configuring their details and the challenges they face with the team. They have the option to customize challenges for different team members. Once set up, Risely creates a Learn Journey, a step-by-step process through which Risely starts guiding the manager daily. The learning comprises a daily bite-sized learning tip focused on one challenge or skill in the Learn Journey or a detailed toolkit the manager gets at stipulated times. The manager can track their progress through different skill assessments built into the system. Additionally, Risely is offering a host of resources such as toolkits and leadership skills self-assessments for Managers. About Culturro Culturro is an HR tech company leveraging AI and People Science to solve organizational problems.

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EMPLOYEE EXPERIENCE, EMPLOYEE BENEFITS

Compt Benchmark Study Reveals Top Employee Perks for Open Enrollment

Compt | October 06, 2022

Compt, an employee perk stipend software company optimized for the modern, more-flexible workplace, released today its findings from its mid-year employee perks benchmarking study. The study pulls data from over 140,000 individual stipend purchases from January through July, 2022 and highlights a transformation in how companies support employees with an emphasis on wellbeing. These spending categories are top of mind for HR teams as they go into open enrollment and budget renewal discussions with a desire to continue improving the employee experience through personalization. The study supports evidence of higher utilization through personalized perk stipend programs over traditional, limited perk programs like HSA or FSA plans and vendor marketplaces or card-based models. Compared to last year, employers are paying more attention to lifestyle benefits as an inclusive business practice that also increases perk usage, raises employee engagement, and improves retention. There is a continued shift in how employees define health and wellness and other perk categories: In the first half of 2022, the “Health and Wellness” and “Food” perk categories represented over 40% of all claims and nearly one-third of perk dollars spent, but change is happening. “Health and Wellness” are no longer defined as simply gym memberships and receipts from health food stores; rather, there is a greater emphasis on mental health and wellbeing, for which employees expect support from employers. Employees' top spending categories reveal purchases to support home life: The “Family” category nearly doubled year over year and encompasses a wider variety of purchases like childcare, groceries, school costs (like tuition reimbursement), household supplies, and even rent. Inclusive benefits create a happier, healthier workplace: A review of the top 20 perk vendors in 2021 compared to 2022 revealed many employers are staying remote and supporting dispersed teams through a few key stipend categories like internet and phone reimbursement, as well as broadly defined health and wellness benefits. “Now more than ever HR teams are tasked with what feels impossible walking the line between competitive and frivolous benefits packages that satisfy both finance teams and the rest of the employee population, Our goal with this benchmarking study is to help HR professionals leverage data to design benefits that increase flexibility and engagement for the same dollar amount.” -Compt founder and CEO Amy Spurling Methodology: The data from the Compt 2022 Mid-Year Perks Study comes from a review of over 140,000 individual perk transactions that occurred between January 1st and July 31st, 2022. This data is pulled from real companies across a variety of industries, all of which have shifted to personalized perks. About Compt Compt is the number one employee stipends platform that gives people the freedom to choose the lifestyle perks that they really want. Founded by a former five-time CFO, two-time COO, Compt’s employee stipend and rewards software is fully customizable to a company's needs, IRS-compliant, and can support global teams. Compt is proud to be named the #1 HR Tech platform by SHRM’s Better Workplaces Challenge and a Built In Boston's 2022 Best Small Company to Work For. Compt is based in Boston, MA.

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HR ANALYTICS

ChartHop Honors People-First HR Leaders Through 2nd Annual People Pioneers Award

ChartHop | November 16, 2022

ChartHop, the leader in people analytics transforming the way companies manage and support their people, has recognized 10 People leaders redefining the HR discipline in its 2nd Annual People Pioneers Award. ChartHop created the People Pioneers Award to honor HR professionals who have positively impacted their companies and employees via company growth, cultural change, new benefits programs, and more. "This past year we've seen a people-first revolution and People leaders have been tasked with developing programs for the whole employee lifecycle to create a true sense of workplace belonging, We celebrate this year's group of talented People Pioneers for their ability to drive change, embrace the future of HR, and pave the way for future leaders." -said Ian White, founder and CEO of ChartHop The 2nd Annual People Pioneers Award winners were nominated by their peers and selected by a rigorous judging process evaluating their impact on implementing people-first initiatives to positively influence both their people and business' bottom line. Winners earned their accolades for their success in establishing fair compensation policies, scaling company growth, increasing employee net promoter scores, and implementing DEI initiatives. This year's recipients are: Adrianne Court, CHRO at Tealium Aleksandra Paszkiewicz, Head of People at Netguru Chad MacRae, VP of Talent at Tinder JaNaye Norman, VP of People at Modo Labs Jen Paxton, VP of People at Smile.io Joanna Wise, SVP of People at Whip Media Larry Indovina, Chief People Officer at Top Hat My Doan Cong, Head of People at ALT Natalie Rast, Director of People Operations at Stensul Noah Warder, Head of People at Guusto Chad MacRae, VP of Talent at Tinder, earned a spot on the list for bringing strategic foresight to his company's talent team and overseeing triple headcount growth over the last three years. Tinder hired 70% of its current employees under MacRae's leadership. Other key initiatives MacRae introduced to support this dynamic growth include creating workshops, moving to true scenario planning, and implementing the "Be Your Best Self-Education Reimbursement" program. I help my team to lean into the current state of the business and examine the external drivers affecting a business and its headcount growth, With this focus, the Talent team has been able to plan for multiple scenarios while scaling through a global pandemic and launching hybrid work possibilities across North America,said MacRae. My Doan Cong, Head of People at ALT, a champion for inclusivity and employee wellbeing, was chosen for her tremendous impact in creating an empathetic environment for all ALT employees. Since joining the company in early 2022, Doan Cong has rolled out several people-first initiatives: she authored employee leveling and raise structures, increased events and communication to promote belonging, and developed an employee wellness program addressing physical, mental, and financial health. We've heard a lot of talk about driving efficiency across different tech companies, At ALT, we approach efficiency through a people-first lens by asking ourselves, 'How can I get folks to do their best work?' Engagement and feedback culture is really important, especially in companies with remote workers,said Doan Cong. About ChartHop: ChartHop is transforming the way companies manage and support their people. By consolidating people data into one employee-centric platform to visualize, discover, and act on insights, ChartHop creates more informed, empowered, and connected organizations. From executives to individual contributors to every employee in between, ChartHop is designed for everyone in the organization. ChartHop plays well with dozens of platforms through robust integrations across the HR tech stack, and serves companies like 1Password, BetterCloud, and Starburst. Founded in 2019 by Ian White, ChartHop is backed by Andreessen Horowitz.

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Spotlight

While employee assistance programs (EAPs) have been around for more than 40 years, new changes in the workplace and the expanded need for wellness program offerings have changed the face of EAP and work-life programs. As you evaluate your strategy, consider these 5 questions to ensure that you’re offering employees the best possible resources for their needs.

Resources