A new multi-generational workforce poses both challenges and opportunities for today’s employer. An increase in average retirement age and life expectancy have created an unprecedented five generations coexisting in the modern workforce, also known as the “5G Workforce.” Each generation brings to the workplace a different set of character traits, behavioral patterns and value systems. These differing perceptions and values are a potential source of conflict, frustration and misunderstanding. Unresolved conflict among employees decreases productivity, morale and motivation. Employers must understand generational differences and use this understanding to manage generational diversity. Once properly managed, an employer can capitalize on the unique strengths of this diverse workforce. Successful management of the 5G workforce begins with an understanding of not only the differences among generations, but the environment that shaped those differences. The five generations of the modern workforce include: • Traditionalists: Employees born 1945 and before… [Read More]
Archives for November 2016
The Rise of the Gig Economy
With the rise of what is now known as the “gig economy,” the job market is changing. The gig economy is an environment in which short-term, temporary work is preferred to traditional employment. This contingent workforce is utilized for single projects or tasks, employee absences, or field expertise. These workers are highly skilled, knowledgeable in their field, and ready to perform in a demanding environment. The benefits of this type of labor have been recognized by both employers and workers alike. The Gig Economy Offers Flexibility For the worker, the gig economy offers flexibility and diversity not found in the traditional job market. Many short-term engagements, such as consulting “gigs,” do not have a firm work schedule. Workers have newfound flexibility in completing these projects or tasks. This type of work also introduces the ability to diversify. A worker is no longer chained to one… [Read More]
Employer of Record Services
What is Employer of Record services? Assuming the role of Employer of Record gives rise to a complex set of rights and responsibilities. To protect the rights of employees, labor laws and regulations impose numerous duties on an employer. These same rules also impose costly penalties for employers who breach these obligations. For this reason, the role of Employer of Record carries an inherent risk of liability. To mitigate this risk and maintain positive employee relations, an employer must have a clear understanding of the legal obligations involved. According to Intuit 2020 report, 20-25% of the workforce is currently involved in some aspect of contingent work or alternative work arrangements. A number that is expected to rise to 40% by 2030. With the rise in the number of contingent workers, there’s a demand for services that help companies establish well-run programs that can utilize this… [Read More]