Weekly dose of HR Tech Simplified
Moments that matter in office; celebrating promotion through resignations; employers failing to provide AI training and some funding news
Hi friends 👋,
Happy Friday and welcome back to our Weekly dose of HR Tech Simplified. Multiple new reports and articles were published this week with some interesting insights on all things related to talent. However, the fundraising and acquisition activity was a bit muted.
Now, let’s get to it.
Some workers are celebrating their promotions by walking out the door
While many see promotions as achievements that cement one's standing in a company, recent findings suggest otherwise.
A compelling study by ADP, a leading payroll-services firm, delved into the career trajectories of over 1.2 million U.S. employees from 2019 to 2022. The data brought a surprising revelation to light: almost a third (29%) of workers handed their notice within just a month of receiving their first promotion. In comparison, only 18% of their counterparts who didn't get a promotion decided to leave their jobs in the same timeframe.
This raises intriguing questions about the conventional beliefs surrounding job promotions.
In the Changing Role of the Office, It’s All about Moments That Matter
New research from Microsoft highlights key times when bringing employees and teams together in person creates lasting connection. While remote work is important to provide workers flexibility to work as they want, in-person work is needed to build team bonding.
Microsoft’s data points to three specific moments when in-person time is most beneficial:
Strengthening team cohesion
Onboarding to a new role, team, or company
Kicking off a project
Another interesting insight from this research is that teams are more geographically dispersed than before the pandemic, and fewer teammates all live within the same city
AI Training: Employers Slow to Provide Learning Employees Desire
The demand for AI skills in job roles is rapidly increasing, with recent research highlighting a massive 2,000 percent jump in positions requiring such expertise.
While over half of the 7,100 individuals polled by Randstad's Workmonitor Pulse expressed a keen interest in mastering AI capabilities, a mere 10% actually received any form of AI training over the past year. This discrepancy showcases the growing gap between the desire for AI skills and the training opportunities available.
Interesting HR Tech news
JPMorgan Chase is stepping up its appeal to small business customers by planning to offer digital payroll processing.
The bank has picked San Francisco-based fintech player Gusto to provide the underlying technology for the feature.
If you’re a customer of Chase payments solutions, you can go to payroll from the same exact place you do banking,” Reeves said. “It’s the same experience, with the same login and credentialing; all that stuff becomes easier when it’s in a one stop shop-type environment.
Atomicwork, a startup, which wants to help companies automate their HR, IT and other workflows through an AI assistant has raised US$11 million.
Atomicwork has a range of workflows to help company operations. Fully automated workflows handle tasks without manual intervention, like generative answers to common employee questions or reimbursement processes that settle expenses more quickly. Semi-automated workflows are a blend between automation and human oversight where needed, and include streamlining vendor payments and request approvals and employee onboarding or offboarding.
In another important development, Justworks, a PEO, has acquired Jia, an EOR to help its client expand into international markets easily. This can be start of a broader trend with big PEOs acquiring EoR players as demand for EoR related services is growing fast.