The C Sheet January 7: New Pay Transparency Law, Gray-Collar Employees, and The Great Raise
New York City gets a new pay transparency law, gray-collar job demand, and why a CEO pays his employees to quit.
1. The Big Apple Gets Pay Transparency
In an effort to improve wage gap inequities, a bill was passed in New York City that requires private companies to post salary ranges for job openings. An economist shares why she thinks there will be immediate progress: NYC law to mandate salary transparency. Will it bridge inequities? (NPR)
2. Gray-Collar Employees Coming in Hot
Gray-collar employees—former blue-collar workers with more technical skills—are on the rise. In fact, the U.S. Bureau of Labor reports that 13 of the 20 fastest-growing jobs will be categorized as such. Beyond the Great Resignation: 3 trends shaping the future (Human Resource Executive)
3. The Great Raise
Is the Great Raise the next phase of the Great Resignation? A tight labor market, inflation, and increased profit margins points to yes. The Great Raise is the solution to the Great Resignation (Fortune)
4. The History of Hobbies
Raise your hand if you made a loaf of sourdough during the first year of the pandemic. There’s a reason people turn to hobbies when work is threatened—here’s the history: How Hobbies Infiltrated American Life (The Atlantic)
If you search the hashtag #CorporateMillennial on TikTok, you’ll find a slew of videos featuring millennial workers who are burned out from hustle culture. It’s no surprise that Harvard Business Review found that employees aged 30-45 are quitting at the highest rate. ‘Hustle culture’ is facing an existential crisis with millennials (CNET)
6. Paid to Quit
The CEO of Trainual offers its employees $5,000 to quit during their first two weeks of employment. This may seem absurd when attrition is a looming fear for businesses, but he explains his strategy: This CEO pays new employees $5,000 to quit (Fast Company)
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