Microsoft CEO Satya Nadella has informed workers pay increases are on the way, as the company faces a tight labor market and the highest inflation in decades. Microsoft is the latest tech firm to commit to increased salaries, following in the footsteps of Google and Amazon.
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Bosses play a crucial role in defining employees' daily experience, and the pandemic has created fresh challenges for managers. In addition to other responsibilities, bosses help define the company culture and connect their team's work to the broader mission.
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The employee experience must be prioritized to prevent talent from leaving, writes Equus Software's Scott Turner, who outlines four ways leaders can improve employee engagement. These include using pulse checks and surveys to monitor employee sentiment and introducing self-service tools to facilitate more autonomy.
Health care costs in retirement could reach $315,000 for a 65-year-old couple retiring this year, according to an estimate by Fidelity Investments. That tally is up 5% compared with last year, and Fidelity also says most people underestimate expenses.
Leaders must discover their personal motivations, move past self-imposed limitations and focus more on the present than on aspirations, according to advice from CEO coach Marshall Goldsmith. "If we are ready to invest ourselves in becoming our better selves -- however we define it -- then, and only then, can we say that we have deserved our place," writes John Baldoni.
“People don't leave companies, they leave bosses … Bosses have become the most critical element of the employee experience.”
Joe Galvin’s words hit me like a stone this morning. They’re true. When I left my last job, much of the reason I left had to do with executive management. The folks in charge were disconnected from their workforce. Employees felt unheard and dismissed. And one by one, we left.
I don’t want to be that type of manager. I want to be a manager who is connected to her team -- listening, hearing and supporting. Someone that the team knows is empathetic and capable at what she does.
This is a work in progress, though, I'm learning. I welcome your feedback. What management tactics help you retain your workers? Sense when they’re frustrated and help them work through that? Let me know! And if you enjoy this brief, tell others so they can benefit also.
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