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Black MBA NetWire
arrows February 19, 2015
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Research conducted by the Center for Talent Innovation reveals that top jobs often elude women and professionals of color because they lack executive presence or underestimate it’s importance. When working with high-potential leaders to enhance their executive presence, we focus on a couple of key areas including their ability to thrive in uncertain work situations as well as connect with and inspire an audience. (Black Enterprise)
 
Wal-Mart Stores Inc. plans to boost the pay of its U.S. employees to at least $9 an hour by April, a raise that will top the federal minimum wage by 24% and take a bite out of the company’s profit this year. The company said it would raise the pay for those employees by another dollar an hour by next year. In all, the moves affect some 500,000 full-time and part time employees at Wal-Marts and Sam’s Clubs, about a third of the company’s 1.4 million U.S. total. (The Wall Street Journal)
 
Young American workers today are more educated than ever before, but the nation’s largest generation is losing its edge against the least and most educated of other countries, according to a provocative new report. The report’s authors warn these findings portend a growing gap between rich and poor American workers and that the lackluster results threaten U.S. competitiveness in an increasingly globalized market. (The Atlantic)
 
Career
The clock on the bottom right-hand corner of your computer screen says 4 PM – but that can’t be right. Can it? Considering your day so far has consisted entirely of chatting with co-workers, half-listening to a conference call, and catching up on the day’s headlines, it just doesn’t seem possible that you could be an hour from the end of the day – with absolutely nothing to show for it. (Time)
 
When I dive into time coaching clients’ schedules, I consistently discover that people misdiagnose themselves as having a "productivity" problem when, in fact, their bigger issue is an overcommitment problem. When they have committed to more external projects and personal goals and obligations than they have hours for in the day, they feel the massive weight of time debt. (Harvard Business Review)
 
Not so long ago, emotions were considered to be bothersome, unnecessary obstacles to productivity in the workplace, and we were told to leave them at the door once we got to work. While this attitude still exists, most of us recognize that our emotions are part of who we are, and we have no choice but to bring them to work. But the question now becomes, how do we deal with them once we enter work? (Fast Company)
 
City of Hope
International
Germany rebuffed Greece’s request for an extension of its aid program as euro-area finance ministers prepare to meet to avert a cash crunch for the region’s most-indebted nation. The Greek proposal "doesn’t meet the criteria agreed upon in the Eurogroup on Monday," German Finance Ministry spokesman Martin Jaeger said in an e-mailed statement. (Bloomberg)
 
Inflation in France, the eurozone's second-biggest economy, turned negative in January, adding to worries over deflation in the eurozone. Prices fell 0.4% from a year earlier, with energy costs down 7.1% following the drop in global oil prices. It is the first time in more than five years that inflation in France has turned negative. Last month, the European Central Bank announced a stimulus programme to try to boost growth and avoid deflation. (BBC News)
 
Education
Early-bird internships don’t always lead to job offers, but for students who plan to switch careers after school, the stints give students a leg up for on-campus recruiting, according to students, recent graduates and admission consultants. And, for those who want to start companies or join early-stage ones, time spent at a tiny, and sometimes failing, startup can open the door to a new industry or give a non-tech person a more digital sheen. (The Wall Street Journal)
 
An initiative in Oakland, Calif., to specifically support the academic life of Black males in middle and high schools is receiving high marks. In 2010, the Oakland Unified School District (OUSD) made a commitment to the academic achievement of Black males by creating the Manhood Development Program (MDP), the only such program in the U.S. A report released in January says the program may be a successful model for school districts around the country. (DiversityInc)
 
Going through the process of applying to colleges and narrowing down your options can be both a stressful and expensive experience for both students and parents. While many families worry about the rising cost of college tuition, others become financially stumped by expensive application fees and the money it cost to send SAT/ACT scores to each school. Among the 1,073 schools examined by US News, the average college application fee is $41, with schools such as Stanford University charging as much as $90 to apply. (Black Enterprise)
 
NBMBAA
The Atlanta Chapter of the The National Black MBA Association will present its February Connection Forum: "The Business of Relationships", 6 p.m. to 8 p.m. Feb. 23, at the Georgia Power Auditorium, 241 Ralph McGill Blvd. "We’ve all heard it before. But, why is it so hard to have a great relationship? How can we develop viable relationships that help us in our personal and business lives?" (Atlanta Daily World)
 
Technology
The nascent peer-to-peer lending industry is poised for rapid growth. Its platforms have evolved into marketplaces capable of disrupting big banks by connecting consumers directly with lenders and offering better rates for both. Lending Club, the US’s biggest P2P lender, recently listed on the New York Stock Exchange and surged to a valuation of $8.5 billion. The US is the biggest market, with $8 billion-plus extended to businesses and individuals, but Netsa, a UK innovation charity, forecasts that the UK market will grow to £4.4 billion this year alone. (BusinessBecause)
 
"Nineteen billion dollars for a disappearing-messaging app?" Translation: All this for a stupid mobile app that teenagers use as a back channel to goof off with their friends? In a word, yes. Snapchat, which launched in 2011, reportedly generates little revenue and has yet to turn a profit. But the broad strokes of its business model are well-worn: marshal a captivated audience, sell advertisements against it, profit. (Fortune)
 
Entrepreneurship
You’ve finally figured out what you want to do with your life – start a company, launch a website, design an app, or found a nonprofit. The only problem is that you can’t afford to quit your job (and lose your benefits) in order to pursue it fulltime. So, where should you start? What’s the best way to get your passion project moving? And how can you tell when you’re ready to strike out on your own? (Harvard Business Review)
 
Starting a business is always a gamble, but in these fast-growing industries, the odds are stacked in your favor. For Inc.'s annual look at the best industries for starting a business, we sought out the hot sectors where immediate opportunity and long-term viability converge. From agricultural software to fantasy sports and legal marijuana, these are the niches waiting for first-movers to jump in and take off. Consider this your call to action. (Inc.)
 
The Economy
Nearly seven years after the financial crisis, banks are still churning out profits and wrestling with regulators. Yet Wall Street, by many important measures, appears to be in the middle of a humbling transformation. Bonuses are shrinking. Revenue growth has stalled. Entire business lines are being cut. And some investors are even asking whether the biggest banks should be broken up – changes that are all largely attributed to a not-so-well-known set of rules regarding a financial metric known as capital. (The New York Times)
 
If minorities are less likely to get an inheritance from a family member than a white person is, or to have wealth to fall back on when they want to buy a house or start a business, they are likely to have less money to save for retirement, too. And if they are saving, the weaker safety net makes it more likely that they’ll have to raid that reserve or take on debt when things go wrong. (The Washington Post)
 
Personal Finance
I felt calm as I sat on a blue couch for my close encounter with the nascent field of financial therapy. I watched as Joel Reimer, a fit, 50-something man in a golf shirt, put sensors on my thumb and fingers. I was in the middle of Kansas, in one of the exam rooms at the Financial Therapy Clinic, a counseling and research center run by the Institute of Financial Planning at Kansas State University. (The New York Times)
 
The only sure things in life may be death and taxes, but when you work for yourself, you can also be sure that filing your taxes will be complex and confusing. Like finding the right health insurance, filing taxes gets a little more complicated when you don’t have an HR department to guide you. We asked tax experts how to tackle tax deductions from a freelancer’s perspective, to get the most out of your deductions. (Fast Company)
 
Corporate America
Many U.S. corporate boards need help making hard decisions. Amid unprecedented pressure from investors, more boards are tapping outside experts so they can monitor management better and clean their own house. The legion of advisers – which some dub "board doctors" – scrutinize boards’ inner workings and prescribe cures for such ills as an entrenched chief executive, 800-page briefing books, or even a director who plays Sudoku during management presentations. The experts often enable board members to make tough choices they are too squeamish to do on their own. (The Wall Street Journal)
 
But while the change will provide some much-needed financial relief for Wal-Mart workers, analysts said it will benefit the company even more over the long term, in the form of a hard-working and more loyal workforce—and therefore, better-run stores. (CNBC)
 
Leadership
Applying to Australian app-building company Appster, seems a little like applying for a high-security-clearance government job. From the initial vetting process through the offer, the company spends an average of 22 hours evaluating each candidate. Candidates spend an average of 15 hours each interviewing, testing, and impressing over roughly two to four weeks before landing an offer. (Fast Company)
 
No one wants to become stale--so don't fault your employees for wanting the opportunity to expand their skills and grow their careers. This is how they remain relevant and valuable in a high-churn job market. They build their experience, avoid specialized pigeonholes, and stay on top of changing technology. And it's up to you, as their employer, to give them the chance to do all these things--not just for their own good, but for the good of your entire company. Why? Because the desire to find better growth opportunities is so strong that, next to compensation, it's the number one reason today's talented young employees are leaving their employers. (Inc.)
 
Lifestyle
Some people are willing to give up a lot – perhaps too much – for a good vacation. For their "ideal" vacation – the kind of vacation they have on their "bucket list," anything from a luxury cruise or safari to an exotic beach holiday – 39% of adults said they’d sacrifice six months of alcohol, cigarettes or coffee, while 29% said they’d downgrade their smartphones or computers, according to a new poll of 1,500 people carried out by Google Consumer Surveys for Tripping.com, a vacation rental search engine. (MarketWatch)
 
 

 

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