What We’re Still Getting Wrong About Performance Management

Performance management has been part of the business landscape for so long that many companies have lost sight of the outcomes they expect to achieve through the process. In fact, most performance management processes have multiple, conflicting intentions. On the one hand, they aim to measure performance — a metric that is often elusive, especially for knowledge workers. On the other hand, organizations also have the goal of improving employee performance. The performance management process is often also aimed at collecting data that can inform talent decisions, as well as related data such as career aspirations and development opportunities. Although all of these elements have something to do with the employee, trying to incorporate this mishmash of things into a cohesive assessment is like making dinner with what you’ve got in your fridge: Once in a while it meets expectations, but usually it ends up being a questionable proxy of a meal. For organizations, such an approach is both time-consuming and ineffective. READ MORE

Inflation slows, incomes rise, and Americans are much more optimistic about the economy

After an extended period of gloom, Americans are starting to feel better about inflation and the economy — a trend that could sustain consumer spending, fuel economic growth and potentially affect President Joe Biden’s political fortunes.

A measure of consumer sentiment by the University of Michigan has jumped in the past two months by the most since 1991. A survey by the Federal Reserve Bank of New York found that Americans’ inflation expectations have reached their lowest point in nearly three years. And the same survey, released last week, found that the proportion who expect their own finances to improve a year from now is at its highest level since June 2021. READ MORE

Five Working Tips To Build A Successful Startup

Embarking on the journey of building a successful startup is both exhilarating and challenging. But in a world where innovation and speed are key, understanding the right strategies can make the difference between success and failure.

I have launched several startup projects and invested in many more at their early stages, so I know a bit about the bumpy road a newcomer faces in the market. While approximately 90% of startups in the U.S. fail, I don't think this should discourage you, for it's those who stay who reap the rewards. READ MORE

Thriving On A Shoestring: Five Basic Strategies For Startups With Little To No Marketing Budget

In the dynamic world of startups and boutique small businesses, the challenge of expanding clientele without having a traditional marketing budget is a common hurdle. But a minimal marketing budget shouldn't be viewed as a barrier. Actually, it's an opportunity for startups to strategically build their vision and brand.

There's no formula to marketing strategies that guarantees immediate growth. It all requires a combination of many different factors. But with strategic planning and innovative thinking, startups can significantly grow their customer base. From my experience starting my dental practice with zero budget for marketing or advertising, I found that there were certain building blocks I could leverage to help grow clientele. READ MORE

Section 409A Valuations: Mastering the Art and Science in a Volatile Venture Market

Within the unpredictable landscape of start-ups and private companies, market volatility can significantly alter a company’s financial trajectory. An integral part of navigating this volatility is understanding the role and function of Section 409A[1] valuations. These valuations, which play a critical role in the financial and tax planning strategies of organizations, serve as an independent measure of a company’s common stock value. In this article, we explore the intricacies of Section 409A valuations, focusing on their importance, timing, and methodologies, and offer strategies for engaging with third-party firms to achieve a valuation that most closely aligns with your company’s worth. READ MORE

How To Effectively Develop And Manage KPIs For Organizational Growth

In business performance management, effectively distinguishing between key performance indicators and operating indicators is a critical challenge for many organizations.

In my experience, however, organizations often create excessively long lists of KPIs, sometimes over 100. This overabundance of metrics dilutes the "key" aspect of KPIs, complicating effective measurement, analysis and action. That's why you need to distinguish between key performance indicators and operating indicators in your performance management. READ MORE

Will workplace flexibility be ‘less flexible’ in 2024?

In 2023, scores of employers around the globe called workers back to the office as the COVID-19 pandemic was officially declared over—and the promise of workplace flexibility quickly became accepted as a best practice to lure back at-home workers and recruit new talent.

However, after many organizations struggled to actually get workers back in the office, the pendulum may swing a bit in the other direction this year, with more organizations making “flexibility less flexible,” predicts Hannah Yardley, chief people and culture officer at employee recognition software provider Achievers. READ MORE

As companies lay off even more workers, they could be making a big mistake in the way they’re doing it

Despite brightening economic data — slowing inflation, low unemployment, and a seemingly nonexistent recession — the new year has started off with layoffs. So far in January, Citigroup announced it was cutting 10% of its workforce; within tech, Google cut hundreds of jobs across its engineering and hardware teams, while Amazon reduced headcount in its Prime, Twitch, Audible and other entertainment divisions. Even the NFL has offered voluntary buyouts to at least 200 employees.  READ MORE

Amazon tracks its French warehouse workers to the second

A French regulator has fined the local operator of Amazon’s warehouses €32 million ($35 million) for using an “excessively intrusive” surveillance system to track the activities of its workers.

The French Data Protection Authority, or the CNIL, said in a statement Tuesday that Amazon France Logistique gave warehouse staff scanners that recorded their periods of inactivity and how quickly they performed certain tasks, such as removing an item from shelves or putting an item away. READ MORE

The absurdity of the return-to-office movement

I host a podcast, “In the Room with Peter Bergen,” which focuses on national security issues. Every day, I see the merits of being part of an entirely remote workforce.

We have a production team, around half of whom live in Brooklyn and Manhattan, and the others live in places like Chicago, Mexico City and San Francisco. We have met in person only twice in the year that the production has been up and running, and we have put out dozens of highly produced episodes, often featuring multiple guests, which go through many rounds of edits. READ MORE

AI will create long-term ‘job disruptions,’ CEO of Big Four firm says

With U.S. consumers and executives both expressing worries about the impact of artificial intelligence (A.I.) in the workplace, the CEO of one of America’s largest consulting firms warned about "long-term" disruption.

"I think in the long term, there will be job disruption, no doubt about it, KPMG CEO Paul Knopp told FOX Business’ Maria Bartiromo, Tuesday, from the World Economic Forum in Davos, Switzerland. READ MORE

The tech sector is pouring billions of dollars into AI. But it keeps laying off humans

The tech sector has kicked off the new year with a spate of fresh job cuts that are coming at the same time as the industry is doubling down on investments into artificial intelligence.

While AI tools putting workers out of jobs has been a major point of anxiety in Silicon Valley and beyond over the past year, not all the recent layoffs in the tech industry are directly linked to AI tools simply replacing workers. READ MORE

Principal Financial Group Inc (PFG)'s Uncertain Future

Long-established in the Asset Management industry, Principal Financial Group Inc (PFG, Financial) has enjoyed a stellar reputation. However, it has recently witnessed a daily loss of 0.19%, juxtaposed with a three-month change of 18.1%. Fresh insights from the GF Score hint at potential headwinds. Notably, its diminished rankings in financial strength, growth, and valuation suggest that the company might not live up to its historical performance. Join us as we dive deep into these pivotal metrics to unravel the evolving narrative of Principal Financial Group Inc. READ MORE

CES 2024: All the News From Las Vegas

Now that CES 2024 is done and gone. I think it’s safe to say that there was a lot of news out of Las Vegas this year. Thankfully, we’ve got all the important announcements listed below.

AI was a big talking point this year, and we saw many companies find a way to jam, uh, I mean, integrate AI into pretty much everything from fridges, cars, and, uh, Mario? We even pretended to be a Ramen Bounty Hunter to some AI game NPCs. READ MORE

Despite the hype over generative AI, most CEOs are taking a 'wait and see' approach

Despite all the buzz over how generative artificial intelligence tools like ChatGPT are set to revolutionize entire industries, the vast majority of business leaders are waiting for the hype to blow over before fully embracing the new technology.

That's according to the latest report from Boston Consulting Group (BCG) released Friday, which found some 90% of executives are taking a "wait and see" approach, either holding off on trying out GenAI or experimenting with it in minor ways. READ MORE