Some companies revise diversity policies amid conservatives’ lawsuit threat

Several major U.S. companies have modified their internal diversity policies that aim to increase racial and ethnic representation after conservative groups threatened to file lawsuits, according to a Reuters review of corporate statements.

At least six major U.S. companies, including JPMorgan Chase, revised their diversity policies after they were among the 25 firms that received public shareholder letters since 2021 that said their diversity, equity and inclusion (DEI) programs constitute illegal discrimination and breach the directors’ duties to investors. READ MORE

Remote work stifles innovation

Before the pandemic, most managers assumed that working from home was a productivity killer. Without the discipline of an office, they thought, employees would lounge around in their pajamas, binge Netflix, and get nothing done.

After 3 ½ years of remote and hybrid work, we now know this assumption was wrong. Some studies, in fact, have found that working from home actually allows white-collar professionals to get more done, not less. READ MORE

Find high achievers while breaking away from the performance review trap

New data from SHRM found that only one in 100 HR pros completely trust their current performance review process to identify high achievers, and only one in 50 completely trust it to identify problem employees.

At the same time, a 2023 HR.com survey found that only 24% of respondents said their performance management process resulted in a high or very high impact on employee retention. Only 33% said their performance management process resulted in a high or very high impact on improving employee performance. READ MORE

Why are younger workers such a retention risk?

It’s hard to attract top talent, and for some employers, it’s even harder to keep it. That may be especially true for younger workers, as new research shows that one in four Gen Zers might hit the road sooner rather than later.

According to a 2023 study from workforce resilience platform meQuilibrium, 23% of younger workers are contemplating a job switch in the next six months. (That number drops to 13.8% when taking in the full range of nearly 5,500 respondents.) READ MORE

New 'coffee badging' job trend has some business leaders on high alert

In post-pandemic times, many employers and companies are continuing to mandate a return to the office for their workers — and some employees are responding with a particular form of pushback. 

First, there was the trend "quiet quitting," in which workers did the bare minimum on the job just to get by — and now, say workplace leaders and experts, there’s "coffee badging," another form of employee protest. READ MORE

Empty office buildings may meet the same fate as zombie shopping malls

It’s been about four years since the Covid-19 pandemic first upended society. Cities and towns have mostly sprung back to life, one aspect of daily life is unmistakable: The once-ubiquitous reality of working in an office for eight hours a day, five days a week is dead.

As many companies embrace remote and hybrid work, demand for office space has weakened and property values have fallen. READ MORE

The Great Divide: The Gap Between Financial and Operating Performance

A budget goal to increase operating profit by 10% might seem reasonable. That is until it’s time to make it happen.

While it’s always a worthy objective to work toward financial improvement, difficulties often arise from an operational perspective. Whether it’s increasing sales or reducing costs, improving financial outcomes requires doing things differently, but managers aren’t always aware of or prepared for what that practically means. READ MORE

2023 was an ‘extinction’ level year for tech startups. Where did all the money go?

Startups are not having a good 2023. And the investors who handed out billions of dollars to fund them aren’t very happy about it.

During more flush years, venture capitalists, angel investors and billionaire evangelists poured their cash into tech startups – the easy money pipe was seemingly open to any Tom, Dick or Harry who had an idea and was willing to attach a buzzy phrase like ‘blockchain’ or ‘AI’ to it. Valuations soared and unicorn companies, those startups said to be worth $1 billion or more, proliferated. READ MORE

Companies are cutting worker benefits to offset the sting of high inflation

Companies looking to cut costs to offset the pain of high inflation are quietly paring back the non-cash benefits they offer to employees – and the problem may soon get worse.

That is according to a new analysis by Glassdoor, which found that a growing number of employees lost access to 401(k) retirement plans, dental insurance, vision insurance, tuition assistance and other benefits this year.  READ MORE

The US economy grew by 5.2% in the third quarter, even faster than previously estimated

US economic growth was even stronger in the third quarter than previously estimated, underscoring the economy’s remarkable resilience in the face of elevated inflation and high borrowing costs earlier this year.

Gross domestic product, the broadest measure of economic output, rose at an annualized rate of 5.2% from July through September, according to the Commerce Department’s second estimate, released Wednesday morning. GDP is adjusted for inflation and seasonal swings. READ MORE

Use of AI could create a four-day week for almost one-third of workers

Artificial intelligence could enable millions of workers to move to a four-day week by 2033, according to a new study focusing on British and American workforces.

The report from the thinktank Autonomy found that projected productivity gains from the introduction of AI could reduce the working week from 40 to 32 hours for 28% of the workforce – 8.8 million people in Britain and 35 million in the US – while maintaining pay and performance. READ MORE

Military veterans who became Fortune 500 CEOs

For decades, members of the armed forces have traded in their uniforms for corporate suits. A handful of them have even climbed their way to the top of Fortune 500 companies.  

Many are highly qualified for executive roles because they are trained to adapt quickly and make informed decisions in highly stressful environments, Eric Eversole, Hiring Our Heroes president and a vice president at the U.S. Chamber of Commerce, told FOX Business. READ MORE