Public company CFO turnover matched record high in Q1 | North Koreans use fake IDs to get remote work in US | Are you solving the symptom or the problem?
Public company CFO turnover matched record high in Q1 Eighty-two CFOs were appointed by public companies in the first quarter, equal to the record turnover in the same period of 2021, according to Russell Reynolds data. More than half of incoming CFOs in Q1 were internal hires and nearly one-quarter were women. The high turnover rate among finance chiefs is attributed to rising retirement rates, more CFOs moving into chief executive and other leadership roles, and the tendency for new CEOs to hand-pick a CFO after their own appointment. Full Story: Yahoo/Fortune (5/16)
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Recruiting & Retention
North Koreans use fake IDs to get remote work in US IT companies are being duped into hiring North Koreans, who pose as Americans looking for remote work and sometimes use AI to create deepfake videos and audio. An Arizona woman and four others are facing federal charges for helping North Koreans gain employment at 300 US companies, including a Silicon Valley tech company, an aerospace manufacturer and a US automaker. Full Story: Axios (5/21)
How to minimize employee stress during relocations Corporate relocations can be a necessary disruption, but they can be handled in a way that reduces employees' stress and helps them settle into a new location. Let employees know at least six months in advance and provide relocation assistants to help workers find housing and engage in the new community for needs like schools and spousal employment. Full Story: Training magazine (5/16)
Benefits & Compensation
How Amazon created a financial wellness benefit In response to employees' money-related stress, Amazon created a financial health team in 2022 to help employees deal with short-term emergencies and long-term goals. Amazon has partnered with Brightside, a financial care solutions partner that helps workers with monetary emergencies and then helps them create a savings plan and rebuild their credit. Full Story: Human Resource Executive (5/20)
Unequal power dynamics, language barriers or other factors may be hampering your team from participating in meetings, writes executive coach Luis Velasquez, who notes that leaders must create a psychologically safe environment that welcomes participation. "As leaders, we must cultivate teams where every member's contributions are not only heard but eagerly anticipated, and where every member feels safe to voice their opinion, even contrarian ones," Velasquez writes. Full Story: Harvard Business Review (tiered subscription model) (5/20)
SmartBreak: Question of the Day
David Misell, who received a US patent for the flashlight in 1898, originally invented it for what purpose?
