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One of the most frustrating and archaic HR practices is performance management, a process with which many companies struggle even today.
To move beyond the struggle, the first and primary realization we must accept is that performance management is not for HR’s benefit. Performance management is actually what its name implies: It’s all about managing people, work and projects. READ MORE
When CEOs lay out multiple high-level objectives, like increasing market share, entering new markets, and pursuing innovation — all at the same time — they enthusiastically tout the advantages of each. They set ambitious numerical targets. They rally the troops behind the vision. But they rarely talk explicitly about how much value they are willing to sacrifice in one of those objectives to achieve more value in another. When it comes to their strategic objectives, they naturally “want it all” and resist talking about sacrifice. In the absence of explicit guidance, executives and the managers beneath them substitute their own judgment for the CEO’s, weighting conflicting objectives differently and, by doing so, pull the organization in many misaligned directions at once. READ MORE
History will not judge the Jerome Powell Federal Reserve kindly. First, it brought us multi-decade high inflation. Now, it is putting us well on the path to a hard economic landing. READ MORE
An open letter to SpaceX decrying CEO Elon Musk’s recent behavior has sparked open discussion among the company’s employees in an internal chat system. Employees are being encouraged to sign onto the letter’s suggestions, either publicly or anonymously, with a signed version of the letter to be delivered to the desk of SpaceX president Gwynne Shotwell. READ MORE
Elon Musk spoke at an all-hands employee meeting and reiterated his plans for Twitter should he complete his purchase of the company, including an ambitious expansion of the user base and belt-tightening on corporate culture.
"Some people use their hair to express themselves," Musk told the roughly 7,500 employees. "I use Twitter." READ MORE
Economists at Wells Fargo said Wednesday they expect the US to tip into a recession in 2023 after the Federal Reserve hiked interest rates by the biggest amount since 1994 in a bid to choke off inflation.
The Fed's move prompted a shifting of views on Wall Street about the US growth outlook, with analysts across the board saying the risks of a recession are rising. READ MORE
The Great Resignation is pivoting to a Forced Resignation.
Thousands of layoffs in the tech sector, compounded by hiring freezes and a slowdown in hiring, highlight the abrupt shift in fortunes over the past several months as a result of rampant inflation, fear of stagflation and recession, supply-chain interruptions, the war in Ukraine, an ailing stock market and other red-alert economic factors. READ MORE
A California startup wants to put satellites into a circular chamber and whip them around to more than 5,000 miles per hour before letting them burst out, allowing a rocket to fire up its engine only after it's escaped the smothering tug of Earth's gravity.
Humanity has been putting objects into orbit for six decades now. This is not how it's been done. READ MORE
The Federal Reserve is rolling out the heavy artillery in its bid to fight a historic inflation spike that has shown little let-up.
But the aggressive strategy is expected to further slow the economy and increases the risk of recession. It already has triggered a brutal market sell-off. READ MORE
High inflation and rising recession risks are darkening the mood in the manufacturing industry.
Fifty-nine percent of manufacturing leaders say inflationary pressures are making a recession more likely within the next year, according to a survey released on Wednesday by the National Association of Manufacturers. READ MORE
I was born in Manhattan and lived much of my life in the Big Apple. I went to school on the Bowery and worked in office complexes that sat adjacent to storied destinations like Wall Street, Times Square, and Madison Square Park. I met sources for lunch and attended concerts and conferences that moved my career forward. But like many knowledge workers, in the wake of the pandemic, I’ve moved away from the concrete jungle and relocated to a small, rural town a few hours north of NYC. READ MORE
For much of the past two decades, the ethos of Silicon Valley was largely defined by Facebook's former motto: "move fast and break things." But in a sudden and dizzying shift, the current mood in the tech sector could perhaps best be described with a far more restrained mantra: "cut costs and try to survive." READ MORE
As the Great Resignation, Reshuffle, Rehire, cycle heads into a new phase, here are the top 15 behavioral interview questions you should be prepared to answer in upcoming job interviews. READ MORE
The agency that oversees Wall Street is weighing major changes to the way millions of everyday investors buy and sell stocks. That could be bad news for so-called free-trading apps like Robinhood as well as the lesser known firms that underpin their business models.
Today, when you buy or sell a stock on an app, the trade appears to be instantaneous. But beneath that simple buy/sell action is a complex web of Wall Street players exploiting tiny differences in price to rake in huge amounts of cash. READ MORE
Vishal Garg, the Better.com CEO who fired 900 employees over Zoom just before Christmas, has been sued by a former executive for allegedly misleading investors.
The SoftBank-backed online mortgage company agreed to a $7.7 billion merger with a blank-check firm to take the company public just over a year ago, but the so-called SPAC deal has yet to close. Since then, Garg's public controversy — and surging mortgage rates — have hurt the company's image and business. READ MORE
The latest jobs data shows the Great Resignation brought on by the pandemic is still ongoing, with a near-record high of 4.4 million Americans quitting in April despite growing recession fears.
One expert explains the reasoning behind the continued reshuffling, and warns that shortages in the labor market are likely to persist for a long time. READ MORE
During the COVID-19 pandemic, CEO Ian Siegel of ZipRecruiter witnessed incredible shifts in the American employment market, both for employers and for job seekers.
In a recent interview with FOX Business, Siegel, who founded the employment marketplace, opened up about remote work, his best advice for job hunters, the recruiting landscape and the overall labor market as the U.S. economy sees solid job growth in 2022. READ MORE
A small NYC-led cancer trial has achieved a result reportedly never before seen - the total remission of cancer in all of its patients.
To be sure, the trial — led by doctors at Memorial Sloan Kettering and backed by drug maker GlaxoSmithKline — has only completed treatment of 12 patients, with a specific cancer in its early stages and with a rare mutation as well. READ MORE
Young workers who entered the US job market in the throes of the pandemic in 2020 faced an uphill battle. Hiring on LinkedIn dropped off dramatically, and widespread layoffs hit Gen Z more severely than most other groups.
Fast forward two years, and the picture looks much brighter for Gen Z and younger millennials joining the workforce today. Despite recent headwinds like inflationary pressures and geopolitical tensions driving economic uncertainty, opportunities still abound for entry-level roles in the US. READ MORE
Despite the gains workers have made through the Covid pandemic in increasing flexibility in where they work, bigger workloads have meant that there is little slack in the system for people to take time out and recover. The effects are obvious. In 2020, 62% of people reported that they had experienced burnout “often” or “extremely often” in the previous three months, and in 2021, 67% of workers reported that stress and burnout had increased since the pandemic. Perhaps it is no surprise then that initiatives such as the four-day workweek, remote and hybrid working, unlimited paid time off, and right-to-disconnect have been gaining in popularity in an attempt to tackle these high-workload, always-on cultures. READ MORE