What workers could gain if tips were no longer taxed | Layoffs cost a lot more than you think | Use scenario planning to avoid falling victim to cyber disruptions
Kamala Harris and Donald Trump favor eliminating taxes on tips. (NurPhoto/Getty Images)
To win votes from the hospitality sector, Donald Trump and Kamala Harris support ending taxes on tips, which critics argue will not help most tipped workers who don't earn enough to be impacted by income tax breaks. Harris also wants to raise the minimum wage, while Trump's plan needs to be clarified.
New data reveals that layoffs lead to reduced productivity, increased voluntary departures, higher unemployment insurance taxes and significant legal fees. For instance, Meta paid $975 million in severance for 11,000 employees, while Theseus Pharmaceuticals offered $212,000 per worker. Legal precautions and potential lawsuits add further expenses, highlighting the complex financial impact of layoffs.
Top UK Olympic coaches offer business leaders valuable lessons that can be applied to the corporate world. Ben Davison's scenario planning and preparation techniques with boxer Anthony Joshua and Scott Hann's resilience-building methods with gymnast Max Whitlock emphasize goal setting, continuous feedback, and mental toughness.
A growing trend towards flexible "core hours" is emerging among job seekers, with 14% expressing this preference, up from 11% in April, Flexa's analysis shows. Jobs offering slight flexibility, where employees can shift start or end times a little, have more than tripled compared to last year, making up almost 80% of job ads in June.
A new survey shows a strong link between a company's culture and its employees' ability to recite organizational values, with workers in toxic environments three times more likely not to know their values. The study also finds that companies with healthy cultures are 26 times more likely to have leaders whose actions reflect these values.
Layoffs are rough. I learned this in the early 2000s when the company I worked for laid off about one-quarter of its workforce to avoid shutting down operations. Those of us who remained took a collective sigh of relief, but the experience had an immediate impact on morale. Everyone questioned how stable the company was, and whether or not we were actually fortunate to have escaped the cuts.
Today’s Recruitment & Retention story takes a deep dive into the costs of layoffs, including severance pay, loss of productivity and legal fees, among others. I was stunned to learn that organizations can pay around $5,000, plus $500 per hour for attorney fees if someone who is laid off decides to sue. Ouch!
I was also troubled to learn that the practice of offering severance packages has ended at some organizations. A Portland, Oregon marketing executive lost his job in May and did not receive severance. Worse, he learned about his layoff in the company’s parking lot. The experience still haunts him, he says in the story.
Layoffs are awful. I’ve been through it on the manager side and it stinks. How do you manage this process? Have you seen your personnel-related costs skyrocket in the immediate aftermath? What – if anything – do you do to help soften the blow to the employee? Let me know! I read every email I get from readers. And if you enjoy this brief, tell others so they can benefit also.
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