U.S. and Local Economy: An Update
the Mobile Society for Human Resource
ManagementJune 12, 2015
Posted: semoonchang.com
Impact of Economy on Human Resource Management
Recession: Keep employees and inventories to minimum
Growing economy Increase in hiring Increase in turnovers
What if future is uncertain?
Public Debt How much?
$18,000,000,000,000 total ($60,000/person) $450,000,000,000 annual interest $1,500/per person per year
Long-term impact? What if no one is willing to lend Higher interest rates Slowing economy & loss of jobs Limit what gov’t can do during
emergency (big recession or war)
Employer Costs (W&S+Benefits)(Source: BLS: National Compensation Survey, quarterly;Latest Release: June 10, 2015; full report at YG-semoon)
Components of Fringe Benefits(Source: BLS: National Compensation Survey, quarterly)
Legally required: Social Security, Medicare, federal & state unemployment insurance, and workers' compensation.
Insurance: health, life, and short-term and long-term disability.
Supplemental pay: overtime, premium pay, shift differentials, and nonproduction bonuses.
Paid leave: vacation, holiday, sick, and personal leave.
Some Sites http://
www.slideshare.net/kleinerperkins/internet-trends-v1 (2015 Internet trends)
https://angel.co/greenhouse (for recruiting)
http://www.guidespark.com/ (employee communications & engagement)
By the way:Generations
Baby Boomers: born 1946 to 1964 X: born 1965 and 1977; perceived to
be disaffected and directionless. Y: People born in 1978 or later; known
as Gen Y because they came after Gen X; called Baby Boom Echo or Millennials (relating to a span of thousand years?).
Millennials I of II % of workforce
6% in 2000 35% in 2015
Top 3 most valued work benefits Training & development Flexible working hours Cash bonus (next: free health insurance, etc)
Millennials II of II Tech Savvy
Prefer to collaborate online Use personal smartphones at work Use downloads for work purposes
Work values Not a team player Narcissistic
Excessive or erotic interest in oneself Inflated idea of own importance
Global Competition: Internet Business(presentation in order)
Top five global public e-commerce companies (gross merchandise value in 2014): Alibaba/Taobao, Amazom.com, eBay, JD.com, and Rakuten
Top five smartphone shipment in 1Q 2015: Xiaomi, Apple, Huawei, Samsung, and Levono
Top 5 Mobile % of total I traffic: Nigeria, India, South Africa, Indonesia, and Poland
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Key data for Mobile (& Baldwin) Counties Contact information to semoon
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