Editor’s Note: A version of this story appeared in CNN’s Work Transformed newsletter. To get it in your inbox, sign up for free here
Asking employees to wear a device that tracks their every move throughout the workday probably would have sounded crazy six months ago. Now? Not so much.
Contact tracing is being seen by some employers as an important way to keep their workforce safe and healthy as we return to the office.Before you even step foot into the office, you might be required to answer a series of questions about your health, experts told me. Questions like: Have you or someone close to you tested positive for Covid-19 in the last 24 hours, or do you have any symptoms? You’ll probably also have to do a temperature check. Read MoreOnce you are in the office, some employers are going to want to track your movements throughout the day in case you or a colleague gets the virus. Wearable devices, like a wrist band or a card that can be slipped into a pocket, could show if you were within a few feet of someone or something within an office building. Many workplace ID badges use radio frequency identification (RFID), which can be used to track the wearer. And your employer can also use the GPS on your cell phone to track your whereabouts. The tech is available, but getting workers on board and feeling safe and comfortable with the idea of being tracked could be a challenge. There are a lot of privacy concerns that come with monitoring employees’ movements. For companies, it’s all about finding the right balance between creating a safe workspace and using technology while also complying with the laws and respecting their employees’ privacy, Jena Valdetero, a partner at law firm Bryan Cave Leighton Paisner, recently told me. “We will be asking people to do things that we’ve never asked them to do before,” she said.Click here to read more about the options employers have when it comes to contact tracing and what employees need to know.
Don’t ignore your 401(k)
We’re not talking about making some knee-jerk reaction to the stock market’s wild swings. But it may be time to reassess where you and your investments stand. Your 401(k) has likely been on quite the roller coaster ride since the pandemic began.Wall Street had a record-breaking first quarter. And not in a good way: The Dow was down 23.2% for the first quarter, while the S&P 500 and Nasdaq were down 20% and 14.2%, respectively.But look at us now: The Nasdaq topped 10,000 for the first time ever on Tuesday. While this is good news for your nest egg, that doesn’t mean you can stop paying attention to it.Instead, re-evaluate your risk tolerance (maybe you thought you had a stronger stomach than you actually do), review your contribution levels (especially since some companies are cutting employer contributions) and reassess your asset allocation (some rebalancing might be in order).CNN’s Anna Bahney breaks it all down here.
Adidas sets a new hiring goal
There’s been a lot of talk from many big corporations about racial inequality in America. But Adidas is looking inward on how it can help increase the representation of people of color in its own workforce.The sports apparel company announced earlier this week that at least 30% of all new positions in the US will be filled with Black and Latinx employees.Along with the new hiring minimum, the company also said it plans to announce an additional “target aimed at increasing representation of Black and Latinx people within our workforce in North America.” Read more about the announcement here. This is the kind of action the US chairman of accounting giant PwC says we need more of in Corporate America.”It goes beyond a great statement. It goes beyond a great speech. We need more action. I believe Corporate America is equipped, but we need a sustained effort,” Tim Ryan told CNN Newsroom’s Poppy Harlow this week.He says his firm is a work in progress and still has a long way to go: It has never had a black chairman and currently only has one black board member.But the company has been taking deliberate steps to rectify the situation across the organization, particularly when it comes to succession planning and bringing in new talent. “And we’re very well-positioned for my successor to be diverse going forward,” he said. You can watch the interview here.
How the EU is keeping a lid on unemployment
Here’s a number that surprised me: 6.6%. That’s the April unemployment rate for the European Union, according to data released last week.They’re dealing with the same pandemic we are, so how have they managed to keep people employed so far? The answer: short-term work programs. These programs allow companies to keep their employees, but reduce their hours, reports CNN Business’ Julia Horowitz. To fill the financial gap for the employees, the state then subsidizes a portion of their pay. Programs like this are popular in Europe, but they aren’t seen as a long-term fix for a prolonged economic downturn. Read more about the programs here.
Coffee break
Phew! It’s been quite a week.Wait, what? It’s only…Thursday? This has been me many times since the pandemic started. While we don’t have a lot of direct control over some of the things going on right now, there are steps that you can take to feel less hopeless. The first step is to acknowledge your feelings. It’s OK to feel sad. Or mad. Taking the time to put a name on our feelings can help you to better manage them, a psychologist told CNN’s Melissa Mahtani.
Connecting with others can also help. Having solid social support helps our mental and emotional health. For some people, connecting with others might be calling up an old friend while others find connections online. Check out all five tips to fight off a bad week here.
Source: edition.cnn.com
