Should You Let Employees Break the Rules to Make Customers Happy?

Organizations are increasingly relying on technology to deliver simple transactions in a standardized way. Things like self-order kiosks at McDonald’s, bank mobile apps for check deposits, and FAQ chatbots that enable consistent and efficient service delivery to customers. Most day-to-day service encounters, from mobile ordering for a cup of coffee to returning products online, are relatively simple and straightforward. READ MORE

Old-fashioned management is failing to reverse the productivity slump. It’s time to ‘grownupify’ work

Recent headlines have the world of work wondering what’s next: Productivity is slumping, the labor force participation rate continues to shrink, and workers are “quiet quitting” in droves. Yet clients, customers, and shareholders still expect extraordinary service, lightning-fast response times, and financial returns.

If we follow the conventional approach used to move the needle on productivity, these contradicting objectives will be impossible to achieve. Work has undergone a dramatic transformation that conventional approaches simply can’t address. READ MORE

About 40% of domestic tasks could be automated in a decade, AI experts say in study

Dozens of artificial intelligence experts in Japan and the United Kingdom surveyed in a research study indicated that, on average, about 40% of domestic tasks could be automated within the next 10 years.

A group of researchers from Ochanomizu University and the University of Oxford surveyed 65 AI experts from Japan and the U.K. about how automatable a variety of domestic tasks – cooking, grocery shopping, laundry and caregiving — will be over the next five to 10 years. READ MORE

Commercial real estate industry on edge as downtown empty office space goes unused

Some Morgan Stanley financial analysts say the commercial real estate industry could be headed for a crisis worse than the 2008 great recession. This comes after businesses have left downtowns across the country with an increase in remote work and higher interest rates. 

Many downtown buildings are owned by investment firms who rely on bank loans. But with businesses not renting as much office space and rising interest rates, some worry these firms may not have the money to pay back the banks.  READ MORE

Employers want everyone back in the office — not shitting this time!

The giant tech firm Meta kicked off what it’s calling its year of efficiency with tens of thousands of layoffs. The company also placed a pause on hiring remote workers.

The parent of Facebook and Instagram is far from alone. A recent survey from the Labor Department showed that nearly 3 of 4 businesses said their employees rarely or never worked remotely in 2022. How does this push against off-site employment affect the economy? READ MORE

US manufacturing near three-year low; casts a shadow over economy

U.S. manufacturing activity slumped in March to the lowest level in nearly three years as new orders plunged, and analysts said activity could decline further due to tighter credit conditions.

The Institute for Supply Management (ISM) survey on Monday showed all subcomponents of its manufacturing PMI below the 50 threshold for the first time since 2009. Some economists said this suggested a recession was around the corner, while others said much would depend on the services sector, whose PMI remains consistent with a growing economy. READ MORE

Would Life Be Better if You Worked Less?

Stephen E. Griffith was working up to 80 hours a week. He was frustrated by the bureaucracy of mounting meetings and craved time with family. So in 2021, he left his thriving practice at a Kansas City, Mo., hospital, and decided to work less.

The neurosurgeon now puts in about one-half to two-thirds of the hours he used to, picking up temporary assignments through a medical-staffing agency, sometimes traveling as far as Oregon. He’s still a doctor and still heals people. But he also goes on midmorning jogs with his wife. He drives his kids to music class. He’s taken more vacations in recent months—to Hawaii, Grand Cayman, Mexico—than during entire years of his past life as a hospital-employed physician. READ MORE

Inflation stress for small businesses hits record high

Inflation has eased some in recent months after hitting a four-decade high last year, but worries over rising costs are now at an all-time high for small businesses.

The U.S. Chamber of Commerce's Q1 Small Business Index found a record 54% of owners cited inflation as their top concern for the first three months of the year, marking the fifth consecutive quarter respondents pointed to cost increases as the number one stressor. READ MORE

How Big Companies Choose Who Is Laid Off

Soon after a company decides to cut its head count, the debate begins: Who should go?

In the current economic environment, a final decision can take weeks, according to executives and corporate advisers. Workers remain in short supply, raising the stakes of determining who is expendable and who is worth keeping. With layoffs that target corporate staff, department heads often take the lead and human resources troubleshoots their lists, which can lead to intense debate and multiple rewrites. READ MORE

ChatGPT: Who and what is behind the artificial intelligence tool changing the tech landscape

Since the introduction of the artificial intelligence tool ChatGPT in November 2022, the new technology has displayed the power and potential that AI can have on our lives.

Open AI CEO Sam Altman, the company behind ChatGPT, admitted earlier this month that he was even "a little bit scared" of the powerful technology his company is developing. While Altman predicted that artificial intelligence "will eliminate a lot of current jobs," he has said the technology will be a net positive for humans because of the potential to transform industries like education. READ MORE

32-hour workweek bill reintroduced in Congress: Will it pass?

The “Thirty-Two Hour Workweek Act” was introduced in the House earlier this month, as progressives try for a second time to shorten the standard workweek from 40 hours to 32.

The bill, introduced by Rep. Mark Takano (D-Calif.), proposes amending the Fair Labor Standards Act to shorten the standard workweek by eight hours for non-exempt employees. (A non-exempt employee is someone who is currently entitled to overtime when they work more than 40 hours in a week.) READ MORE

Six Guidelines For Successful Board-Shareholder Engagement

With shareholder activism on the rise, the need for boards to proactively engage with shareholders has also increased.

Shareholder engagement refers to the process of engaging shareholders, usually those representing the largest blocks of stock, in face-to-face verbal communications. Topics usually include CEO evaluation and succession, executive compensation, board nomination criteria, governance issues, corporate strategy and emerging issues such as oversight of corporate culture, human capital management and the set of issues known as environmental, social and governance. Institutional investors and proxy advisory firms usually publish their priorities in advance of proxy season, which helps boards scope what topics are appropriate for discussion. READ MORE