Survey respondents (485 HR professionals in Canada and the U.S.) were asked to rank four potential outcomes of a compliance failure, from highest to lowest concern. The study found that larger organisations are most concerned with the impact on the organisation’s future, followed by reputational risk. Smaller ones, however, are most concerned with the potential heaviness of the fine itself.

“Smaller firms tend to have more to lose from large fines,” said Debbie McGrath, Chief Instigator and CEO of HR.com. “A severe fine can put a smaller company out of business. Bigger companies can easily absorb a large monetary fine, so their main concern tends to be the publicity’s hit to the brand, which can potentially cost more than the fine itself in terms of loss of business.”

What makes the situation even more dangerous is that many smaller firms find it hard to stay in compliance. Over a quarter of all survey respondents cited compliance with labor laws as a major challenge, and the problem was somewhat more pronounced for smaller organisations with fewer than 250 employees than for larger ones with over 500 employees.

Results revealed today’s biggest compliance problems. Complex regulatory and legal environment was the biggest obstacle to staying in compliance. For smaller organisations, the risks are often compounded by a general lack of access to critical internal expertise.

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Businesses will benefit from the extensive support hub, which covers a range of topics including legislation, employment issues and business development, all of which can be accessed through a dedicated helpline and online, with downloadable guides and templates. Customers will also be able to take advantage of the Forum’s detailed compliance and start-up guides, as well as a discount on Forum membership for their insured advice service.

Ian Cass, Managing Director at the Forum commented: “This is a partnership that made sense for us on so many levels. Metro Bank is truly trying to do business differently, wanting customers to be engaged fans, committed to growth and opening new stores across the country. They are genuinely focussed on understanding and helping small businesses to grow and thrive.”

Craig Donaldson, CEO at Metro Bank added: “Running your own business is no mean feat. We speak to customers every day and wherever they are in their journey, no matter their background or sector, they’re always hungry for advice. By joining forces with the Forum we’re able to provide businesses with the practical support they need at the end of their fingertips.”

Small business owner, Sharon Dobson, said: “When you’re running a business, the breadth of issues that crop up, mean you can’t be an expert in everything. As a business owner I’m time-pressured, so a one-stop-shop like the Forum where you’re assured of credible and relevant advice, makes a massive difference to the way I run my business. Words are one thing, but the practical advice the Forum offers, gives me the reassurance I need that I’m making the best decisions for both my customers and employees.”

The announcement comes as the bank unveils it is winning 17% of switchers in London and the South East and follows in the wake of the bank’s £1bn net lending pledge for its business customers and its commitment to create 100 new roles to support its business customers by the end of 2018.

The post Metro Bank providing helping hand to SMEs with forum of private business partnership appeared first on International Finance.

The report is based on data compiled by employees. The data contains details of salary and bonus for 2017 that were shared by about 1,200 employees based in the US.
This number, according to the report, constitutes about 2 percent of the company’s global work force.

Google has said that the data does not portray the correct picture as it does not account for location; whether an employee is in a technical position, which commands a premium; and performance.

This defence is unlikely to save the company from scrutiny by various gender equality advocates and activists, shareholders, investors and people in general.

Also Read: Poor in gender diversity
The diversity dividend

What may go against Google is that the company is generally perceived as one of the best places to work globally. Hence, critics could wave the NYT report to highlight this and other shortcomings, however minute, at the Mountain View, California headquartered company.

This case is a good example of the perils of being in the spotlight constantly. Google has been reporting very good financials and has been growing consistently.
And, with around 60,000 employees worldwide, pay gaps would be inevitable.

The company is quite likely to pay an employee posted at Mountain View more than one in the same rank posted in India, where the cost of living is relatively cheaper.

According to Google’s annual diversity report, women constitute 31% of its work force and 20% of its technical positions are filled by women.

It must be mentioned that, in tech companies, people in technical positions draw higher pay than in say marketing or HR. But disparity in pay for the same position is another thing. Add gender into this equation, and the issue gets even bigger.

In fact, the US Labor Department has been seeking data from the company in this regard. The company went to court complaining that the Labor Department is asking for more data than necessary.

The NYT report could aggravate this confrontation.

There is a bit of irony here. Millions of companies get away with pay disparities but a company that is perceived as a good place to work faces intense scrutiny.
Perhaps, the battles in lesser known companies are not publicised as much as the one at Google.

The NYT article is definitely getting a lot of traction and comments on the Internet, social media and in tech circles.

The post NYT article puts Google in the middle of gender pay disparity debate appeared first on International Finance.

Suparna Goswami Bhattacharya

May 7, 2015: That LinkedIn and Facebook are used by companies to hunt for the right candidate is well known. But now more and more firms are going beyond and using other social media platforms, like Quora or/and Hacker News, to zero in on the right person for their company. Hacker News is a social news website focusing on computer science and entrepreneurship while Quora is question-answer website where questions are created and answered by a community of users.

“Just like Facebook, social platforms like Quora and Hacker News are not specifically meant for recruitment purpose. However, these sites provide an insight into a person’s domain knowledge and field expertise,” remarks Madhur Ramani, co-founder and Managing Partner, Stratum Consulting, a business innovation firm. A recruiter typically looks into how articulate and in-depth are answers given by people. “Typically, a good answer can catch the attention of many recruiters,” says Ramani.

Ganesh S, who runs a startup called FexiGen, uses Quora to interact with students who can be prospective hires. “Being a startup, we are a small team. But I am constantly on the lookout for good engineering and technical talent. LinkedIn usually has people with experience. Since I mostly look for freshers, I find Quora helpful,” he remarks.

As of 2014, around a third of employers in the USA and the UK have posted jobs on social networking sites like Facebook, Quora and Twitter, and 22 percent of these employers have hired a candidate they found on a social networking site. Additionally, 43 percent of employers have used these social networking sites to research job candidates. “LinkedIn can be good for certain types of jobs, but its user base is a small portion of the total employable workforce. Therefore, other networks and methods are crucial in a social recruitment strategy,” says Chirag Nangia, CEO, Reppify, a San Francisco-based business that uses integrated social media data to help companies find the right hires.

An employer typically looks at a candidate’s personality and sees if they fit well with the company’s culture. “They also look whether a candidate’s background information supported their professional qualifications for the job. Also, these platforms are a great way to know somebody’s interest areas outside of work,” says Mary Lorenz, corporate communications manager, CareerBuilder.

In fact, recruiters are also extending their search to sites where one would least expect — Pinterest and Instagram. “Instagram and Pinterest can be great to drive engagement and brand recognition. Our research shows that the majority of candidates – 62 percent – research companies on social networking sites to evaluate them before applying. So it’s important for companies to have a presence on these channels,” says Lorenz.

For job seekers

There is a lot that you can do with your profile to attract the right attention. Start by evaluating your own social media profile to make sure they are employer friendly. “Provide a link from your resume to your online portfolio, blog or Twitter account so that employers can easily find and learn about you,” says Lorenz.

In fact, since many companies have social media pages dedicated solely to recruitment, one can even reach out to these companies via this channel.

The CEO’s life

Though nobody ever said that a CEO’s life is easy, it seems to be tougher in the age of social networking. Not only is it tough for CEOs to put up personal pictures of them holidaying with their family, it is difficult to express personal opinions on sensitive topics as well.

According to Society For Human Resource Management (SHRM) Research Spotlight, CEOs are seldom active on social media platforms. Only 15% CEOs use LinkedIn to build relationships with external audiences while many blog about recent company developments. Organisations seldom use social media to track a CEO’s personal or professional life, the research stated.

“We do not usually find a CEO very active on social media nor is social media often used by companies to track a prospective CEO’s personal life,” remarks Ramani.

Qais al Khonji, who runs Genesis Projects and Investments in Oman, is not very active on Facebook or Twitter. “I am on WhatsApp and Instagram. On Instagram, I post both my personal as well as professional pictures, like events that I am attending or planning to attend. I usually express my views if I have to convey a message to my followers,” says Khonji adding that he refrains from commenting on any person or group of any kind. He actively posts news about his company on social networking platforms.

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