HR professionals must help create a culture that invests in boosting the skills and knowledge of employees so they, in return, increase the value of the company, write Solange Charas, founder of HCMoneyball, and Stela Lupushor, founder of Reframe.Work. They outline how companies can tailor their professional development programs "to address workforce related needs and institute a set of measurements that demonstrate the impact of those solutions."
Rewarding your top-performing team members with experiences -- such as a trip to an interesting destination or event -- instead of monetary incentives could boost retention and employee engagement, write Kenny Straus and Patrick Sipp of Flying Pig Adventures. "An experience like a river rafting trip or a spa day can be shared among the entire team in a way that a gift card can't, allowing for more camaraderie and strengthened work relationships," they write.
CEO optimism is up 2% this month, buoyed by expectations of strong consumer demand and supply chain improvements in the future, according to Chief Executive's CEO Confidence Index. Many CEOs believe a recession would be short-lived if it occurs, and 62% say the cost and availability of labor remain will have a key impact on their strategy.
As employees return to offices, some are seeking more privacy and their own desks in a repudiation of the recent trend of open office design. Landlords are aware of this desire for privacy, with Empire State Realty Trust CEO Tony Malkin calling hot desking "an interesting experiment whose time has passed." Prior to the onset of COVID-19, "companies were squeezing more employees into less space through open plans," said Boston Properties CEO Owen Thomas. Now, however, "there's more spacing and more privacy, through offices or cubicles or phone rooms."
The latest information from the Department of Education offers additional insight as to how student debt forgiveness will be applied for borrowers with multiple loans. In addition, it's important to note that borrowers who will still have balances left over after the forgiveness may be left with a lower monthly rate.
When you see the name Fred Franzia, your mind probably drifts to images of boxed wine. But did you know that Franzia, who died Tuesday at age 79, was also behind the creation of "Two Buck Chuck," aka Charles Shaw, the insanely popular -- and cheap -- wine sold at Trader Joe's? Franzia bought the name for $27,000 after Charles Shaw entered bankruptcy and started selling varietals exclusively at the grocery stores for $1.99 a bottle (although that price may vary depending on where you live) in 2002. The affordable prices and quality of the wines helped bring about change among other competitors, which began offering cheaper bottles themselves to keep pace.
I know of no single formula for success. But over the years I have observed that some attributes of leadership are universal and are often about finding ways of encouraging people to combine their efforts, their talents, their insights, their enthusiasm and their inspiration to work together.
