![]() ![]() These outcomes did not jibe with the firm’s commitment to training. Digging deeper, we found that only 17% of low-wage workers saw a significant pay increase. Training employees to create career paths for them in this low-wage industry is an important part of the retention strategy.Īn initial examination of the data showed that training expenditures were highest among low-wage workers at the company, yet when those low-wage workers changed jobs within the company, more than one third soon left, and almost half saw almost no pay increase. With more than 15,000 current job openings at the company, recruitment and retention is a constant focus. Importantly, the metrics can help managers create a roadmap for developing their workforce and creating meaningful jobs.įor example, we worked with a food services company that is one of the largest employers in the world to examine how training and job opportunities are created within the company. These metrics document not just how people move through and grow within organization, but also who’s growing and who’s being left behind. What is the difference in mobility rates in each of the company’s wage quintiles for different demographic groups?.What is the demographic composition in the company’s high-wage occupations? How does it compare to that of the local pool of potential labor?.What percentage of the lowest paid workers left the company before their one-year anniversary? How many left before the two-year mark?.What percentage of workers that started below the living wage moved to jobs that paid above living wage each year?.How many new jobs are created each year where pay is above the local living wage?.What percent of workers earn the local living wage?.With that in mind, our research has resulted in the following questions we present to companies that allows them to easily create metrics that track whether these investments are effective at improving job quality: Job quality Now that the labor market has tightened, and employers are having difficulty filling entry-level roles, it’s becoming apparent that managers need to think of these workers as investments in their operational success. Income inequality in the United States continues to grow, and the Covid-19 pandemic has worsened this gap, with frontline workers bearing great risk of infection but missing out on the rewards of the booming stock market. While we believe - and plan to document - that effective professional development of employees will result in better financial performance, we focus on internal mobility because creating clear paths to high-quality jobs has important societal implications. companies across industries to develop actionable metrics that document internal employee mobility to understand the quality of jobs that firms are creating. ![]() To that end, we have spent the past two years working with large U.S. In other words, we ask whether we can help companies identify and separate dead-end jobs from those that lead to a fruitful career. ![]() We’ve sought to make headway on the issue of human capital measurement by focusing on one important aspect of employee management that should matter to stakeholders ranging from executives to shareholders to employees to the government: documenting the quality of the jobs that companies create. Yet in our conversations with more than a dozen companies, convened as part of the 17 Rooms partnership between Brookings and the Rockefeller Foundation, we’ve learned that managers frequently struggle to define what they mean by human capital, and few have developed measures to determine whether their employment strategies are effective. ![]() Whether it’s from investors or the SEC, companies are under increasing pressure to quantify and measure their organization’s “human capital” - the value of their workforce’s knowledge and skills. ![]()
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