(PR in) HR Pulse | HR News Round-up: 7th – 13th August 2023

Photo by Thomas Charters on Unsplash

Financial Wellbeing disconnect between HRDs and employees

New research from Bippit has found only 3% of HR directors (HRDs) have daily concerns about their finances, whereas nearly a quarter (22%) of employees have expressed the same.

The majority of (87%) of HRDs have also said they are confident when managing their finances, compared to less than three-quarters of (68%) of employers outside of the HR field.

Glassdoor reveals that, on average, HR directors based in the UK make c£113,221 annually.

Chris Kirby, Senior Manager for Payroll Transformation at LACE Partners says, there is a disconnect between HRDs and employees - HRDs need to improve their communication with all employees to better understand the financial issues they are going through. He adds that the focus needs to be on listening to employees' experiences to ensure HRDs are helping to solve issues outside of their own experiences.

Bippit’s report shows that almost a third (29%) of employees believe their employers don’t currently offer any financial wellbeing support - but the HR directors surveyed disagreed.

The report also found that less than half (42%) of employees express their financial concerns to employers in comparison to more than four out of five (83%) of HRDs.

Zofia Bajorek, Senior Research Fellow at the Institute of Employment Studies says, due to the nature of HRDs role, they have an advantage when it comes to financial knowledge - therefore, HRDs are more comfortable asking for financial help and have a better understanding of where to go and who to ask when struggling.

Martin Parish, Co-head of Financial Wellbeing at Aon says, employers need to financially educate employees so they understand what the basis of financial planning is and make other other financial aids know to them.

Source: HR Magazine.

DEI isn’t a part of more than half of employers’ recruitment processes

The Recruitment & Employment Confederation (REC) has found that half (49%) of the 167 employers surveyed don’t take basic steps to ensure their recruitment process is inclusive - this percentage has barely changed since REC’s 2022 survey which stood at 48%.

The survey shows that two-thirds (67%) employers don’t use name-blind CVs during the selection process - a 14% increase from last year, and more than half (56%) don’t use a diverse interview panel - a 3% increase from last year. 

REC has also found that nearly two-thirds (60%) of employers have changed the wording of job vacancies to promote inclusivity - a 6% increase from last year.

Neil Carberry, CEO at REC, shares his disappointment over the lack of change and says many employers aren’t convinced of how important DEI changes are. He adds that this lack of change prevents access to the larger recruitment pool in an already competitive labour market and stops businesses from benefiting from a diverse workforce.

Carberry says the government and board executives need to lead the way - and advises employers to hire professional recruitment businesses as more and more candidates are looking to work with inclusive employers who positively impact society.

Source: Personnel Today.

Businesses are recreating the real-world through “digital twinning”

“Digital twinning” (DT) has become highly popularised over the last two years. DT is when AI-powered tools are used to recreate physical objects into a digital world.

Brian Hutchinson, VP of Disruptive Technology and Innovation at The Mars Agency says, DT allows employers to take a real-world experience that is associated with a particular location into a virtual world so that the experience is available to all at their convenience. 

Hutchinson provides an example: The Mars Agency has been using this technology for the past two years to recreate a digital version of their music festivals for individuals who are unable to attend the real life events - monitoring success through website activity and digital foot traffic.

Advertisers can use DT to trial prospective real-world campaigns in a digital space to help clients understand and anticipate potential flaws or benefits - they can also use DT to expand access to audiences.

Hutchinson adds that as popularity grows, more and more organisations are likely to invest into it to improve their storytelling.

Source: WorkLife.

And here are links to other really interesting news stories this week:

Personnel Today: Four in 10 make counter-offers as skills shortages bite

The HR Director: The true cost of silencing the menopause | theHRD

HR Magazine: Return-to-office mandates are failing worldwide, study finds 

People Management: Experts blame lack of trust as survey finds one in six workers do not receive enough mental health support