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NetWire arrowsApril 18, 2014
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Each year, the average American spends nearly 2,000 hours working. For many, that time passes inside the three little walls of a modern cubicle.
Writer Nikil Saval explores these odd spaces—how they came to be, how they make us feel—in his new book Cubed: A Secret History of the Workplace. I spoke to Saval about the modern office, and a lightly edited transcript of our conversation follows.
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Entrepreneurs often make poor decisions about hiring and staffing because they are stuck in crisis mode: They need help immediately.
Stephen R. Covey popularized this notion with the "Urgent/Important Matrix" in his 1994 book The 7 Habits of Highly Effective People. With this matrix, Covey explains that people often focus too much on immediacy and ignore tasks that are deemed important and have a long-term impact on the company’s health or personal goals.
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One of the most difficult words for some people to say has just two letters. Yet, this one word can cause people to wince and feel guilty for saying it. There is no need to feel guilty for saying it if you have a reason. And, there is always a reason for deciding not to do something. The reason can be something you don’t need to share, but depending upon your personality you may feel compelled to share.
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Work isn’t about being chained to your desk, staring at a screen. What we’re focused on is employee engagement. Plenty of studies show that the more engaged employees are, the happier and more productive they are. And the best predictors of engagement are things like whether you have a best friend at work and how much freedom you have on the job.
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Searching for jobs is an arduous task that can take a lot of time, however there are ways of shortening that effort. The majority of job hunters underestimate how useful their network of contacts can be and how they can use this network to extend their search to increase the chances of finding a job. With the development of online social networks, your personal collection of contacts is considerably larger than those of job hunters 10 years ago and should be fully utilized in your search for work.
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Vive la révolution! Unlimited vacation days for all!
It's no secret that Americans are behind other countries when it comes to work-life balance, as evidenced by France’s recent move to make it a major faux pas to work after 6 p.m.
And while that may sound extreme, 134 countries put us to shame with laws that restrict the work week to a maximum number of hours. In fact, according to a recent study conducted by Harris Interactive for Ask.com, Americans work 490 more hours per year than their French counterparts.
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Career
By now, most of us know the signs of burnout: loss of motivation for the job, minor illness, listlessness and feeling down, a bad attitude toward work, needless squabbles with coworkers and bosses, and a feeling that every day we go to work is another miserable, boring day closer to retirement.
What happens when burnout goes beyond these common symptoms and our solutions and the advice of others don’t work?
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How healthy are your relationships with the people most pivotal to your success? What would a healthier relationship look like, and how can you take your relationships there?
Many of us don’t ask these questions. We figure that our relationships are what they are. In the words of a senior manager I once coached, "Charles and I can’t stand each other, and we’ll never be best friends, so what’s the point?"
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Arianna Huffington believes we are living in a brave new world--today's work environment is somewhere between the dark ages and the renaissance.
The dark ages, she says, include environments and a culture fueled by stress, but she maintains that in order for businesses and individuals to thrive we must transition to a "renaissance" time of mindful living and working.
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Naylor, LLC
Diversity in the Workplace
When I was an undergraduate at Stanford University and decided to "go natural" with my hair, it was more of a lifestyle and financial choice. But in returning to my corporate internship the following summer, I quickly realized it was also a career issue when my (white, male) supervisor told me my hair was "too short and militant" for the company culture. He meant well, knew that I hoped to work for the company after graduation and sincerely wanted to help me succeed in my career. He really was a great guy and he did help me, in truth. I kept my hair natural and decided that maybe that company wasn’t the right place for me after all. I took a position with a competitor company after graduation.
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International
China announced that its first-quarter gross domestic product increased 7.4 percent, down from 7.7 percent in the last three months of 2013. Today’s reading was the slowest pace in a year and a half, but it still came in slightly above analysts’ expectations.
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After nearly six years of falling real wages, rises in weekly earnings have finally caught up with inflation.
Weekly wages, including bonuses, rose by 1.7% in the year to February, up from 1.4% in January, according to the Office for National Statistics (ONS).
Consumer Prices Index (CPI) inflation stood at 1.7% in February and fell to 1.6% in March.
It is the first time that earnings have matched inflation for six years, apart from two months in 2010.
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Dunkin Brands
Education
According to a new survey from the National Association of Colleges and Employers (NACE), companies expect to hire more new college graduates this year for their U.S. operations than they did last year. NACE’s Job Outlook 2014 Spring Update survey show they specifically plan to to hire 8.6% more Class of 2014 graduates than they hired from the Class of 2013.
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T.J. Duane began the Startup Garage course at Stanford University’s Graduate School of Business last September planning to build a closed online network for lawyers.
About eight weeks into the 24-week class, he and his team ditched that idea.
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You’ve probably read that applications to MBA programs have been trending down in recent years. So you might think it’s slightly easier to get into a ranked business school.
Forget it.
A new analysis of application volume and acceptance rates at the top 50 U.S. business schools shows that at the vast majority of MBA programs, applications are up and acceptance rates are predictably down. This past year it was tougher to get into a highly ranked business school than it was the year before.
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Naylor, LLC
Naylor, LLC
Technology
Google Inc. (GOOG)’s costs are rising as the search provider finds it harder to keep up with a shift to advertising on mobile phones and sales fell short of estimates.
Revenue, excluding sales passed on to partners, was $12.2 billion in the first quarter, missing a projection by analysts for $12.3 billion, according to data compiled by Bloomberg.
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itter Inc. (TWTR)’s co-founders, chief executive officer and largest investor have no immediate plans to sell shares, as the company seeks to temper concern that its stock will soon flood the market.
Jack Dorsey and Evan Williams are hanging onto their stakes through the company’s May 5 expiration of its share lockup, as is CEO Dick Costolo, the San Francisco-based company said today in a regulatory filing. Rizvi Traverse Management LLC, whose 14 percent stake makes it the biggest investor, also has no intention to sell, a person with knowledge of the firm said.
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Entrepreneurship
Raising capital is a process most small business owners must face at some point. Even a healthy, growing business often requires outside capital for the process of scaling up. But while these small business owners are focusing on calculating how much capital they need, they often overlook the steps involved to ensure that their business and leadership team is actually ready to seek that financing.
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On Shark Tank, Mark Cuban often says that you have to run a business like there is someone working 24 hours a day to catch you. For many entrepreneurs and small-business owners, this is easy to imagine.
Being threatened is part of running a business and an entrepreneur’s good judgment is what separates a firm's success from failure. This frequently leads businesses, large and small, to turn to metrics in their marketing campaigns to show that they are better, a firm offering a quality proposition.
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Great films tell stories and inspire us to become better people. There’s nothing more powerful than an inspiring movie that leaves you wanting to be your best and try a little harder tomorrow. While there are some truly motivating quotes from real people out there, there’s still wisdom to be shared through the words of great characters.
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The Economy
The number of Americans filling for unemployment insurance payments last week hovered near the lowest level in almost seven years, showing the job market is making progress.
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As the first cherry blossoms bloom, early indications are that the U.S. economy is roaring out of its weather-induced winter doldrums. U.S. weekly applications for unemployment insurance—one of the best real-time gauges of the economy—fell to their lowest level since 2007 last week, hitting 300,000.
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Personal Finance
Each year, the National Foundation for Credit Counseling conducts a financial literacy survey.
This year’s survey showed that consumers have knowledge gaps when it comes to basic personal finance skills.
The survey, which polled more than 2,000 U.S. adults ages 18 and over, gave an outline of consumer’s level of financial literacy, as well behaviors and attitudes associated with personal finance. Significant gaps include budgeting, saving, and understanding credit reports and credit scores.
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Are you financially well? If you’re not, don’t feel bad. There are plenty of people just like you who need a little push in the right direction. Read on for tips on how to get your finances happy and healthy.
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Naylor, LLC
Corporate America
US banking giants Goldman Sachs and Morgan Stanley have reported contrasting results for the first quarter of the year.
Goldman Sachs' net earnings fell to $2.03bn from $2.26bn after a drop in revenues from its bonds, currency and trading business.
However, Morgan Stanley's profit rose to $1.45bn, compared with $981m a year ago.
Revenues rose in all of its three business segments.
Goldman Sachs makes most of its money from trading and investing in capital markets.
In the first quarter, its revenue from fixed income, currency and commodities trading fell 11% to $2.85bn compared with a year earlier.
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It’s never a good thing when Wal-Mart gets into your business.
Thursday morning, shares of MoneyGram InternationalMGI -13.15% and Western UnionWU -5.39% plunged after the retail giant said it would begin offering lower cost money transfers in the U.S. under its own brand.
The news landed hard on MoneyGram, which currently provides that service for Wal-Mart and which counts on U.S. to U.S. transfers for 30% of its total transfer transactions. Shares in MoneyGram dropped to $16.04 in early trading, down 11%.
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Leadership
his week on The Urban Business Roundtable, UBR Contributor Samantha Pass sits down with the President and CEO of Optimum Capital Management and founder of the Optimum Institute of Economic Empowerment Inc., Ryan C. Mack. As appropriate for the month of April, Financial Literacy Month, Mack discusses the benefit of reinvesting in your education. With a passion for teaching, he established his own financial awareness group in 2003. As a renown public speaker, Mack has provided keynote presentations to organizations across the country such as Harvard University, Princeton University, the NAACP and the NBA. He joins the Roundtable to share how reinvesting in your education can rejuvenate your business.
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People on your team offer you gifts – not just at special occasions, but all year. These gifts aren’t tangible, and they’re not wrapped up in lovely boxes with beautiful bows. These gifts are nicely wrapped in a compliment, or, more often, not-so-nicely wrapped in a criticism or complaint.
Effective leaders open these gifts, regardless of the wrapping, to learn what they are doing that’s negatively affecting others on their team. For example, when your boss says, "You did a great job on that presentation," the compliment is the wrapping. You can go past the wrapping and open the gift to learn more by saying something like, "Thanks. I’m curious, what did I do that was great? I want to make sure to keep doing it."
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