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Gen Z’s latest college grads have a new rival in the workforce
Given how some hiring managers view them and the unique pandemic-fueled hurdles they've faced, Generation Z's debut in the workplace has certainly come with some challenges.
Now, some of the newest Gen Z college graduates may have another battle on their hands when looking for jobs: artificial intelligence.
As more organizations embrace ChatGPT and other AI tools, entry-level jobs like research, data entry and email writing that would normally go to interns or recent graduates are at risk.
That’s according to a recent Intelligent.com survey, which found 8 out of 10 hiring managers said their company will lay off recent graduates due to AI use.
Entry-level positions provide crucial experience for young workers, but they are often viewed as the ones that are easiest to replace.
That dynamic could pose challenges for the latest Gen Z graduates, who are entering a softer job market than their recent predecessors.
Key quote: “While AI can’t fully replace the critical thinking and innovative problem-solving that humans provide, it can certainly take over many of the routine and repetitive tasks that newly hired graduates are assigned. This makes recent graduates among the most vulnerable for having their roles consolidated or even eliminated through wide-spread AI adoption.” –– Huy Nguyen, Intelligent’s chief education and career development adviser.
FULL STORY: Gen Z's latest college grads have a new rival in the workforce
Forget the four-day workweek. Some corporate giants are trying out six.
Some employees may be pushing for a four-day workweek, but some large organizations may have other plans.
In a surprising twist, Samsung Electronics Co. is utilizing a six-day workweek for executives to combat sluggish financial results.
As The Playbook Senior Reporter Andy Medici notes, Samsung isn’t alone in considering the idea. The six-day workweek has gained a foothold in Greece, as the government there in 2023 voted for a series of labor reforms that allow workers to get a second job and work up to 13 hours a day, as well as for companies to implement a six-day workweek.
A recent survey of executives and decision makers by Resume Builder found 9% of business leaders polled said they plan to institute a six-day workweek in 2025. Conversely, 11% are planning a four-day workweek by 2025, while the vast majority are sticking with the traditional five-day workweek.
Key quote: “It’s surprising that any company would look at expanding the workweek, especially for their full-time employees, rather than condensing the workweek to meet the needs and wants of their employees.” –– Stacie Haller, Resume Builder chief career adviser.
FULL STORY: Forget the four-day workweek. Some corporate giants are trying out six.
CHART OF THE WEEK
Workers often forfeit hundreds of dollars on FSAs
Many employees sign up for flexible spending account benefits to save money, but the move is often backfiring.
A new report by the Employee Benefit Research Institute analyzed more than 3.2 million flexible spending accounts in 2022 and found that, while workers are contributing more to these accounts, about half of accounts are not using the funds.
The average loss? $441.
Again, not a huge sum, but given how expensive health care can be, any amount could make a difference.
FSAs are typically part of a wider benefits package, and workers can elect to contribute a certain amount of pre-tax dollars into those accounts to pay for health care — or separately, child-care expenses — during the plan period. But if they don’t use the funds, they are forfeited back to the employer.
Key quote: “This is of particular importance, given recent evidence that employers are increasingly concerned with helping workers manage high costs of living and health-care costs," said Jake Spiegel, research associate of health and wealth benefits research at EBRI. "Forfeiting funds back to employers can potentially run counter to this goal.”
FULL STORY: Workers often forfeit hundreds of dollars on a popular workplace benefit
The blitz: There’s a surprising new twist in the remote work debate. … Employers brace for lawsuits, higher costs amid seismic rule changes. … What employers need to know about the FTC noncompete ban.
