October 20, 2017

Stock Market Surges | Unemployment 44-Year Low | WiFi Vulnerability | Millennial Benefits

This Week: Economic Upturn  | Wi-fi Vulnerability | Benefits for Millennials  | OSHA  | Minimum Wage  | ADA

StaffLink’s Week Ending October 20 Highlights: This week StaffLink watched the economy take a turn for the better, wi-fi security take a turn for the worse, and millennials get a turn at choosing benefits. In HR news, OSHA lists its top ten 2017 violations, Florida plans to raise its minimum wage and a 7th Circuit ruling on FMLA and ADA.

Economy on the rise:

In the stock markets, positive earnings reports and strong performance by IBM helped the Dow end at a record high of 23,000 on Wednesday, say MarketWatch’s Sue Chang and Ryan Vlastelica in Dow ends at 23,000 for the first time, as all stock benchmarks log fresh records. Additionally, the two say indicators from the Fed’s Beige Book report points to modest to moderate economic growth.

Also pointing toward economic growth, initial jobless claims, average unemployment, and continuing claims were all down for the week ending October 14. The big picture? “The U.S. labor market is the strongest in at least a decade in a half” writes Jeffry Bartash for MarketWatch in Initial jobless claims slump to 44-year low.  

Keeping cybersecurity top of mind:

Well, if you weren’t thinking about cybersecurity before you woke up Monday morning, you probably were as soon as you checked your newsfeed. On October, 16, Inc. published Major Vulnerability in WiFi: Update Your Computer ASAP sharing the details of the latest cyber risk. TNW followed up with its own take, explaining that everyone’s wi-fi now belonged to hackers.

Could it get any worse?

Um… sigh. Just read this: Here is the 2018 CyberSecurity Almanac.

What did the experts tell Inc. contributor Joseph Steinberg to expect? Cyber security professionals will have no trouble finding a job, businesses will spend more than $10 billion to train staff on security awareness by 2027, and most organizations will be forced to rely on cloud-based infrastructures by 2020. Know a cybersecurity expert? Get them under contract now.

Multigenerational employment:

Speaking of contracts, how do you keep your best talent happy? Money may not be the key to happiness for every employee. In Different Motivations for Different Generations of Workers: Boomers, Gen X, Millennials, and Gen Z, John Rampton tells Inc. readers that different incentives appeal to different cohorts. What’s trending for millennials in particular? Employment that has meaning and work-life balance, says Rampton.

Florida Minimum wage increase:

Money might not be the key to happiness, but it still helps pay the bills. Employers of entry-level workers in Florida may see their bills go up slightly next year as the Sun Sentinel reports that the Florida minimum wage will rise to $8.25 in 2018.

HR Regulatory News:

Ensuring your employees’ health and safety should always be top of mind when it comes to retaining talent and improving job satisfaction. Where are employers going wrong? Here’s a summary prepared by Lisa Nagale-Piazza writing for SHRM of the Top OSHA Violations for 2017 with tips for avoiding these common hazards.

Where ADA & FMLA Intersect

Employers must navigate a substantial number of rules and regulations designed to protect employees and sometimes it can be difficult to know when one rule ends and another begins. The potential overlap of the Americans with Disabilities Act (ADA) and the Family Medical Leave Act (FMLA) seems to be particularly troublesome. The U.S. 7th Circuit was recently called upon to weigh in on this issue reports SHRM’s Jeffrey Rhodes in ADA Does Not Require Extended Leave Beyond FMLA, 7th Circuit Finds.

Unfortunately for employers, decisions related to FMLA and ADA are often very fact specific making it hard to draw firm conclusions from any single ruling.

ROBOTIC TREND CONTINUES … IN ADVERTISING, TOO

Now here’s something cool. This 3-D robotic sign (the first of its kind) advertising Coke moves to the groove.