Financial Sector Sees No Job Growth in September

Financial ServicesThere were no job gains in the Financial Activities sector in September, according to the Bureau of Labor Statistics (BLS) Jobs Report released on Friday.  Financial Activities, which includes the banking, securities, insurance and real estate sub-sectors, has added 147,000 jobs to the economy over the last twelve months.

In September, a small number of job gains occurred in insurance (+2,000) and real estate (+1,000) that were offset by job losses in banking (-2,000) and securities (-1,000).

Over the last twelve months, insurance added 72,000 jobs, real estate grew by 42,000 and securities gained 18,000 jobs.  During the same period, commercial banking lost 17,000 jobs.

Healthcare Leaders: Is Your BHAG as Humbling as El Capitan?

David Covington, CEO & President of Recovery Innovations, Inc., has written a great article comparing the Big Hairy Audacious Goals (BHAG) of overcoming smallpox, polio and HIV to the goal of eliminating death by suicide.

Originally posted on davidwcovington.com:

At the recent Healthcare Analytics conference in Salt Lake City, Good to Great author and leadership guru Jim Collins, who coined the term Big Hairy Audacious Goal (BHAG), inspired us with an amazing story of grit and determination. He recounted how seven years earlier, big wall rock climber Tommy Caldwell asked him, “What if your BHAG is not actually attainable?”

Labor Day Report: Financial Sector Adds 19,000 Jobs in August

Total Financial Activities sector employment rose by 19,000 in August and has risen by 170,000 (2.1%) over the past twelve months.  This compares to an average monthly gain of 15,000 jobs year-to-date.  In August, job gains occurred in Credit Intermediation, Insurance, Securities and Real Estate.

Take 5 to Save Lives During Suicide Prevention Week

In support of Suicide Prevention Week, The National Council for Suicide Prevention’s Take 5 campaign encourages everyone to take 5 minutes out of their day and complete five action items: Learn the warning signs, Join the movement, Spread the word, Support a friend, and Reach out.

The annual National Suicide Prevention Week campaign encourages everyone to take a closer look at the role we can all play in preventing suicide. Simply asking, “Are you ok?” may make all the difference to someone who is struggling with depression or other depressive illnesses.

10 Things HR Can Do During Suicide Prevention Week

Banker in DistressChances are good you know someone who has died by suicide or someone whose life has been affected by suicide. In the US, more than 40,000 people died by suicide in 2013, the last year for which data is available, and suicide is the 10th leading cause of death. Worldwide, the number of lives lost each year to suicide exceeds those lost to homicide and war combined. The human tragedy of these lives lost is immeasurable.

Why is this issue important to business leaders and Human Resources departments? Because suicide rates are highest among those in the prime of their working lives—those 25 to 64 years old. The financial and economic burden is estimated at $44 billion annually, driven almost entirely by lost wages and productivity.

The Truth About Pay and Performance Ratings

Performance EvaluationA trend is emerging as businesses eliminate ratings from their performance management processes.  Adobe Systems and Deloitte are among several major companies to drop ratings as they re-engineer their performance management programs while retaining those components that are more productive, most notably one-on-one feedback and coaching with employees. Firms are abandoning numerical ratings of people and forced distributions because study after study has shown those practices to be detrimental to teamwork.

Performance ratings have long been a factor in compensation, promotion, employee development, and termination decisions, and their elimination creates a challenge for HR professionals.  As this trend gains traction, HR will be called upon to ensure employee-related decisions are delivered in a fair and legally defensible way without the use of traditional performance ratings.

Financial Employment Grows in July: Commercial Banking Continues Downward Trend

Jobs continue to decline in commercial banking.
Jobs continue to decline in commercial banking.

Financial Activities employment rose by 17,000 in July and has risen by 156,000 over the past twelve months.  This compares to an average monthly gain of 13,000 over the prior twelve months.  In July, job gains occurred in Insurance, Securities and Real Estate.  Employment in Commercial Banking continues to trend down.