Consumer confidence rises on labor market optimism | Research questions effectiveness of DEI initiatives | CFO-CHRO collaboration boosts business performance
US consumer confidence rose more than anticipated in November, reaching 111.7, amid increased optimism about job availability and the current labor market, per the Conference Board. A stock market rally and a stronger economic outlook also influenced the improvement. "November's increase was mainly driven by more positive consumer assessments of the present situation, particularly regarding the labor market," said Dana Peterson, chief economist at the Conference Board.
Exposure to diversity, equity and inclusion narratives may lead individuals to perceive unwarranted bias in workplace scenarios, according to a study from the Network Contagion Research Institute and Rutgers University. The research involved different groups exposed to DEI-related materials and found increased accusations of bias in hypothetical situations. The research could have implications for companies, especially CFOs, at a time when many are reconsidering DEI initiatives.
Strong partnerships between CFOs and CHROs can be a major driver of business performance, aligning financial strategies with employee experience to enhance productivity, efficiency and retention, writes Isabelle Wang, CFO at Legion Technologies. Wang asserts that CFO-CHRO collaboration allows for a holistic approach to workforce management, integrating HR analytics with financial frameworks to make informed decisions that benefit financial health and employee satisfaction.
The State Council of Higher Education for Virginia has awarded over $524,000 in grants to four universities to transform work-study programs into internships. This initiative, led by the Center for Career and Professional Development, aims to enhance student employment experiences and prepare students for their careers by integrating academic knowledge with practical work experiences.
Gratitude in the workplace is more than just polite gestures; it builds a culture where employees feel valued and motivated, write Karin Hurt and David Dye, who recommend making gratitude a daily habit and giving team members specific and meaningful thanks for a job well done. "It's not just about making people feel good -- it's about creating a culture where people feel seen, respected, and motivated to give their best," they write.
SmartBrief will be closed Nov. 28-29 for the US holiday. It will resume publication on Monday, Dec. 2.
SmartBreak: Question of the Day
Before Call of Duty, before Grand Theft Auto and even before Pac-Man, there was Pong, developed by Allan Alcorn, who worked for what company that distributed the game and built a console for it?
Gratitude is not a fluffy word. It’s real. It’s a skill. It’s an attitude. It’s action. People thrive when they’re around it. Use these steps to cultivate a culture of thankfulness in your organization.
Encourage peer recognition. When team members recognize peer achievements, they catch behaviors that leaders might miss. Create ways for staffers to spotlight wins and accomplishments, such as Slack channels, department meetings, and annual award programs. You’ll foster collaboration, boost morale and build a pipeline for future leaders.
Offer sincere, specific praise. After a training session that I led a few years back, my CEO Rick walked up to me and gave me a crushing side hug. “Excellent job, Kanoe. We need to put you in sales!” he said grinning. On the outside, I was a composed professional, smiling and thanking him graciously. On the inside, though, I was shouting, throwing confetti and doing backflips.
Thoughtful, detailed recognition stays with people. They feel different. They feel good. They feel seen. They feel motivated to do more.
Make gratitude a habit. Don’t wait for special events or big wins to praise your team. Look for opportunities to do it daily. You can make it a habit by scheduling it into your calendar or task list.
“My calendar? C’mon, Kanoe, that’s overkill.”
Is it? Can we really go overboard with extending appreciation for what folks have done?
I don’t think so. A spirit of thankfulness is one of the best gifts we can give ourselves and our teams. For ourselves, it turns our eyes outward toward others. It keeps us humble and aware. For our teams, it fosters motivation and belonging.
Thank you Workforce readers for your loyalty and kindness. I pray you all have a safe and relaxing Thanksgiving. I'll see you back here on Monday.
Aloha!
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