Talent News Round-Up: Gender Wage Gap, Flexibility, and College Grad Hiring
Staying updated on the latest workforce trends is crucial for TA leaders and HR professionals. This week, we delve into three significant developments shaping the talent landscape and get SocialTalent CEO, Johnny Campbell’s first-hand takes on these pieces.
- New U.S. data reported in Fast Company reveals a setback for pay equity, with an expanding wage gap, especially impacting Latinas. Are we losing ground in DEI progress?
- According to HR Brew, despite office mandates, flexibility in hours and location remains key for employees. Is your company offering what matters most to talent?
- Fortune tells us that tech hiring is tightening as new grads shift to startups and government roles. Could this broadened search redefine their career paths?
Join us as we explore these pivotal insights and their implications for the future of work.
1. The U.S. Gender Gap is Growing. Here’s Why.
Source: Fast Company
The gender wage gap in the U.S. widened in 2023, reversing years of progress toward pay equity. Women earned 83 cents for every dollar men made, with Latinas, who entered full-time work in large numbers, seeing the lowest wages and slowing overall median gains for women. Pandemic-related setbacks, low-wage job concentration, and unpaid care duties remain structural barriers. Advocates urge policy changes, including the Paycheck Fairness Act, to address these ongoing disparities.
Johnny Campbell’s take on this:
“Guess what happens when the US pulls right back on its DEI initiatives? You guessed it, we move backwards!!!! This is so disappointing but not too surprising from the US numbers. Yes, there is nuance to the impact of a growth in Latinas in full time employment who are generally the least paid demographic, but why is that in the first place? Fairness needs to be put back on the agenda for US corporations. It is not a political issue. It is an issue of inequity for mothers, daughters and sisters everywhere.“
2. Flexibility is an Employee’s Most Valued Benefit After Salary
Source: HR Brew
After salary, flexibility in work hours and location is the most valued benefit for employees, with 65% ranking it highly in a recent Conference Board survey. Following flexibility, incentives like bonuses and commissions, paid time off, retirement plans, and health benefits complete the top five. Despite some companies moving away from hybrid work, such as Amazon’s recent five-day office mandate, 56% of companies still offer hybrid or fully remote options, indicating a split in workplace policies.
Johnny Campbell’s take on this:
“If an organization makes a clear business case for returning to the office (and there are many good reasons to do so), then I am all for this, but let’s face it, most companies are doing it because their investors have huge real estate interests or the CEO just “feels” like we should do it or there are tax implications (as is the true case for Amazon). Employees want flexibility, it couldn’t be more clear. I applaud the companies that zig when everyone else zags. They will win the war for talent.“
3. College Grads Struggle to Find Work at Google, Amazon, and Meta as Tech Hiring Slows
Source: Fortune
As tech hiring slows, recent college grads struggle to find jobs at major firms like Google, Amazon, and Meta. With fewer campus recruitment events and hiring freezes, students are pivoting toward smaller companies, startups, and government roles. Many are honing skills in AI and data engineering, where demand remains steady. Universities like UC Berkeley and Carnegie Mellon report a decline in Big Tech’s presence at career fairs, pushing graduates to broaden their job search beyond Silicon Valley.
Johnny Campbell’s take on this:
“There’s a lot of hyperbole in this article. Firstly, there is a lack of employers turning up on campus because their TA budget was cut and campus recruiting is bloody expensive. I think they’ll find new ways of hiring this talent, even when the hiring volumes return. Secondly, tech hiring volumes were at their peak (2.5X) in 2022 when credit was cheap and tech was overspending and over-hiring. It’s now down 30% on the pre-pandemic levels, which is for sure a downturn but a far cry from a disaster. As a Gen X’er who graduated in the 90s, I say toughen up grads, you might have to actually work to get your first job, just like we did!“