Sunday reading for May 25, 2014:
1. Robin Rauzi, Editor for the Korn Ferry Institute, has a great blog post up at the KFI blog highlighting some of the challenges associated with re-shoring. Namely, although many companies are now looking to bring their manufacturing plants (and jobs) back to the U.S., the workforce that once possessed these needed skills has either retired or else moved onto other industries. Meanwhile, for various reasons (including perhaps the fact that manufacturing jobs have been unavailable in recent years due to offshoring) young people have not been pursuing the certifications and training required to do these jobs… choosing instead to pursue four year degrees. The piece points out that the average starting salary for someone with a three-year certificate working in a plant for a company like Siemens (which commented for the post) is about $55,000. On the one hand, the average starting salary for a 4-year college graduate is about $40,000 to $45,000 (higher for STEM grads). Notably, tradesmen more often see their salaries top out almost immediately, with raises just above inflation through the end of their careers. Conversely a college grad can expect healthier raises until their late 30s/early 40s, at which point they too will enter 3% land. Still, even if a college grad is likely to finish their career with slightly higher average earnings than his/her skilled trades counterparts, once factoring in the time-value of money the skilled trades route starts to look like it makes a bit more sense… if you trust that these jobs are here to stay. One way or another, this is a good (short) read and I recommend checking it out here.
2. Sharlyn Lauby has a great post up on HR Bartender highlighting some changes in the Learning and Development field and what that means for what areas of specialization said professionals should be focusing on. I learned a lot about things that are relevant with the field that I hadn’t considered before (such as the importance of allowing for silence in a virtual classroom so that students can process information and respond). If you’re someone that might ever be tasked with teaching or leading a group discussion remotely, hiring someone to do so, or you’re just curious to learn more about the L&D field, I would recommend checking this one out here.
3. According to this Compensation Café piece from Ann Bares, pay transparency is coming sooner rather than later. This is a good read because it explores a few of the more nuanced challenges associated with pay disclosure – such as the fact that to paint a clear picture around equity organizations must share the personal information used to determine its individual employees salaries on top of the salaries themselves. With that said, one way or another Millennial’s insistence upon greater transparency and disclosure will force companies to bring their methodologies and population data into the light sooner rather than later… at which point they’ll need to be able to defend their decisions around pay.
As always, please share your thoughts in the comments below.