• Join us today for #HBRwebinar ‘Measuring the Business Value of an Exceptional Customer Experience’: Link https://t.co/6m8tUThd2s
    Harvard Business Review Thu 15 Apr 2021 15:31
  • How “mission equity” helps maximize the good you can do with your company. @imjonasaurus Link
    Harvard Business Review Thu 15 Apr 2021 15:16

    Athletes Unlimited, a Delaware registered for-benefit corporation co-founded by hedge fund investor Jonathan Soros, has created a new form of equity that requires financial investors and the company to share financial returns on pre-agreed terms with the company on the basis that the profits shared are directed to advancing the corporation’s mission to develop athletes as civic leaders and role models. Called “mission equity,” this new security is a form of capped equity in which the owner of a stock, whose price reflects the full value of the enterprise, agrees at purchase to a maximum annual rate of return with any surplus value taken by the company for investment in the company’s stated mission.

  • Readjust your priorities so you can feel confident that the time you do spend with your children is making the biggest difference. Here’s how. Link
    Harvard Business Review Thu 15 Apr 2021 14:56

    With the many demands at home and at work, working parents need to strategically prioritize their responsibilities, so their time is spent on what make matters. They must ask themselves, what do I, as a parent, need to do that is unique? What adds the most value to my children’s lives? And what can be done by other people?

    Every working parent will answer these questions differently. But in general, we can break down parenting into four different types of work. First, pastoral care, or the intellectual and emotional engagement with your children. Second, decision making, which includes deciding what is best for your children, problem solving, and navigating trade-offs. Third, logistics, or transporting children, asking them to do their homework, following through on decision making, and organizing activities. Finally, household support — all the tasks required for with running the household, such as cooking, cleaning, laundry, and errands. Prioritizing pastoral...

  • What's your first reaction when you hear a compliment? Link
    Harvard Business Review Thu 15 Apr 2021 14:01

    If receiving a compliment makes you uncomfortable, you aren’t alone. Around 70% of people in a survey associated feelings of embarrassment and discomfort with praise. Why do we feel this way?

  • If you want to ensure that your achievements are recognized, think about how your manager and colleagues see you and your abilities Link
    Harvard Business Review Thu 15 Apr 2021 12:56

    It’s a common feeling: while you are busy doing a good job, others seem to be advancing much faster in their careers. What’s going on? The answer in many cases is your contributions are not being seen and recognized. One important reason this happens is that people are simply not great at assessing competence — a crucial trait for succeeding at work— and perceptions of competence are just as important for success as actual competence. It turns out, results don’t speak for themselves, even when it’s all about numbers. Consider a salesman: his sales may rise, but they could have risen without his effort due to the superior quality of the product or marketing efforts that finally bore fruit. If sales go down, it could have been the result of increasing competition. It’s often difficult to disentangle actual drivers of performance, including how much luck and difficulty level played a role. Because of this, people tend to evaluate competence based on other factors,...

  • We tend to blame ourselves when we experience a setback. What if we, instead, responded how we would to a friend in the same situation? Link
    Harvard Business Review Thu 15 Apr 2021 11:51

    When we experience a setback at work, we tend to either become defensive and blame others, or berate ourselves. Neither response is helpful. Shirking responsibility by getting defensive may alleviate the sting of failure, but it comes at the expense of learning. Self-flagellation, on the other hand, may feel warranted in the moment, but it can lead to an inaccurately gloomy assessment of one’s potential, which undermines personal development.

    Research shows that we should respond instead with self-compassion. People who do this tend to demonstrate three behaviors: First, they are kind rather than judgmental about their own failures and mistakes; second, they recognize that failures are a shared human experience; and third, they take a balanced approach to negative emotions when they stumble or fall short—they allow themselves to feel bad, but they don’t let negative emotions take over.

    Self-compassion boosts performance by triggering the “growth...

  • Too many people in Western business often cling to three widely shared, but essentially false, assumptions about modern China. Link
    Harvard Business Review Thu 15 Apr 2021 10:26

    Many people have wrongly assumed that political freedom would follow new economic freedoms in China and that its economic growth would have to be built on the same foundations as in the West. The authors suggest that those assumptions are rooted in three essentially false beliefs about modern China: (1) Economics and democracy are two sides of the same coin; (2) authoritarian political systems can’t be legitimate; and (3) the Chinese live, work, and invest like Westerners. But at every point since 1949 the Chinese Communist Party—central to the institutions, society, and daily experiences that shape all Chinese people—has stressed the importance of Chinese history and of Marxist-Leninist doctrine. Until Western companies and politicians understand this and revise their views, they will continue to get China wrong.

    The complete Spotlight package is available in a single reprint.

  • Diversity efforts directed at all women tend to help white women, but not women of color. Link
    Harvard Business Review Thu 15 Apr 2021 09:16

    In order to step up diversity efforts, organizations often start with people analytics to pinpoint where to intervene. But as organizations take a data-driven approach to identifying areas of change, many encounter one issue: they have a great deal of data about the experiences of certain groups, but far less on others. An organization may be able to tell a clear story about how women in general are faring, or may be able to discuss the experiences of people of color broadly, but what about Asian women compared to Black women, or Hispanic men compared to white men? With such limited data, many companies revert back to broad categories (e.g. “all women”) as they structure diversity initiatives.

    But pooling “people of color” or “women” to have more data discounts within-group differences and hinders meaningful change. Research shows that “one size first all” diversity approaches often only benefit a subset of employees. And efforts directed at women broadly tend to...

  • Just 8% of Fortune 500 companies are led by women, and less than 1% by women of color — an imbalance reflective of a systemic talent-management problem. Link
    Harvard Business Review Thu 15 Apr 2021 08:46

    Most companies say they’re committed to advancing women into leadership roles. What they may fail to recognize, though, is that systemic barriers are holding women back. As a result, women remain disadvantaged at every stage of their employment and underrepresented in positions of power.

    Drawing on their own research and the scholarship of others, the authors describe common forms of gender discrimination in seven key areas of talent management: attracting candidates, hiring employees, integrating newcomers into the organization, developing employees, assessing performance, managing compensation and promotion, and retaining employees.

    Companies can level the playing field by identifying patterns of gender bias in the way they treat people and then systematically making appropriate changes. They can, for example, avoid loaded language in job postings, anonymize the résumés of applicants, cultivate an inclusive culture, increase women’s access to...

  • Banks with more female directors faced lower and less-frequent fines for misconduct — saving those institutions $7.84 million a year, on average. Link
    Harvard Business Review Thu 15 Apr 2021 07:21

    Barbara Casu of Cass Business School at City University of London and four coresearchers compared data on board and leadership diversity at large European banks against records of fines levied on those banks by the U.S. government since the global financial crisis of 2008. They found that banks with more female directors faced lower and less-frequent fines for misconduct, saving those institutions $7.84 million a year, on average. The conclusion: Banks with more women on their boards commit less fraud.

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    Harvard Business Review Thu 15 Apr 2021 07:16

    Subscribers to Harvard Business Review enjoy exclusive access to HBR’s 50 Best-Selling Articles: classics from the most respected minds in business strategy.

    And now you can preview HBR’s Top 5 Best-Selling Articles as an introduction to the type of groundbreaking content you can expect from HBR. Whether you’re a new subscriber looking to hit the ground running, or if you’re considering a subscription, these executive summaries are a sneak peek at the best of HBR. Download your exclusive preview now.

  • Free coffee isn’t what makes a big difference in retention. Inclusion is one big thing that does. Link
    Harvard Business Review Thu 15 Apr 2021 06:56

    Employees who differ from most of their colleagues in religion, gender, sexual orientation, socio-economic background, and generation often hide important parts of themselves at work for fear of negative consequences. This makes it difficult to know how these employees feel and what they want, which makes them vulnerable to leaving their organizations. The key to inclusion is understanding who your employees really are. Many organizations conduct employee engagement surveys, but most neglect to segment the data they collect by criteria such as gender, ethnicity, generation, geography, tenure, and role in the organization, missing opportunities to identify issues among smaller groups. Focus groups are another way to gain deeper insight into what employees care about. They are best facilitated by a third party with no vested interest in the outcome so that employees can speak freely. A one-on-one discussion with a manager can be the most powerful tool for finding out what...

  • Two of the most common patterns that doom start-ups: 1. Doing business with the wrong people. 2. Failing to research customer needs before starting engineering. Link
    Harvard Business Review Thu 15 Apr 2021 05:41

    If you’re launching a business, the odds are against you: Two-thirds of start-ups never show a positive return. Unnerved by that statistic, a professor of entrepreneurship at Harvard Business School set out to discover why.

    Based on interviews and surveys with hundreds of founders and investors and scores of accounts of entrepreneurial setbacks, his findings buck the conventional wisdom that the cause of start-up failure is either the founding team or the business idea. The author found six patterns that doomed ventures. Two were especially common:

  • The summer before the pandemic, leaders signed the Business Roundtable pledge to serve all stakeholders. Then Covid-19 came along and put their pledges to the test. Link
    Harvard Business Review Thu 15 Apr 2021 04:26
  • You can’t simply make a decision to become a lifelong learner. You need to make learning a habit. Link
    Harvard Business Review Thu 15 Apr 2021 04:16

    Formal education is linked to higher earning and lower unemployment. Beyond that, learning is fun! Engaging in a new topic can be a joy and a confidence booster. But continuous and persistent learning isn’t just a choice – it has to become a habit, no easy task in these busy times. To make learning a lifelong habit, know that developing a learning habit requires you to articulate the outcomes you’d like to achieve. Based on those choices, set realistic goals. With goals in hand, develop a learning community and ditch the distractions. Finally, where appropriate, use technology to supplement learning. Developing specific learning habits – consciously established and conscientiously cultivated – can be a route to both continued professional relevance and deep personal happiness.

  • Taking time for yourself communicates your priorities and models behaviors to others — both at work and at home. Link
    Harvard Business Review Thu 15 Apr 2021 03:36

    Responsibilities at work and at home put a lot of pressure on working parents to always be on — even when they’re sick. But continuing to work when you’re not feeling well can mean you’re not performing at your best. It also sets a bad example for your employees, coworkers, and kids, who are depending on you. So how do you go about taking the time you need? First, assess if you’re well enough to work productively at home. If you do call in sick, be direct. Second, work with your team to come up with a standard practice when it comes to being sick. Third, communicate with your partner and kids the importance of self-care and taking the time you need. Finally, remember the larger picture. If serious self-care becomes the bar for everyone, then we’ll all be supporting one another, at home and at work.

  • Group coaching can allow for immersion in real-time group dynamics — something that's limited when coaching an individual. Link
    Harvard Business Review Thu 15 Apr 2021 02:15

    The benefits of small-group coaching come from powerful learning interactions among leaders who aren’t on the same team but are roughly equal in experience and position, and the process can generate leadership development impacts that exceed what’s possible in one-on-one coaching. The authors offer guidelines that will help you learn more about yourself and the organization you lead. By asking for support from others and creating a safe place for exploration, you’ll build foundational skills for all future personal and organizational growth.

  • When your team is overly focused on finding problems instead of solving them, it can be detrimental to productivity and morale. Link
    Harvard Business Review Thu 15 Apr 2021 01:25

    Some teams are really good at identifying problems. When colleagues propose new ideas, team members readily ask tough questions and point out risks. But they ought to be providing constructive feedback as well. How can you encourage team members to think more creatively about solving problems? For starters, they need to see you doing it. Be a role model. Say: “We’re going to talk about solutions; I don’t want to hear about obstacles just yet. And I am going to get us started.” Ask others to contribute to the conversation. Be disarming. Make sure they know their ideas need not be perfect. When you encounter skepticism, ask probing questions. What could we do differently? How could risks be mitigated? Simple things like creating a trigger word to remind employees to be solutions-oriented can make a big difference. That way, if the conversation veers off course, colleagues can help get it back on track.

  • You don’t have to apologize for saying no to a low-priority request. Link
    Harvard Business Review Thu 15 Apr 2021 00:35

    The difference between living a life of peace and productivity versus a life of stress and resentment could lie in one simple skill: Learning how to say no. Saying no makes the difference between a packed schedule and an open one, but it might also make you a little uncomfortable at first. Here’s how you can say no in three different areas: time commitments, tasks, and time frames. Do the math to see how much time a commitment would cost you. Do you have the time for that right now? If not, respond by thanking them for the invite and respectfully declining. Feel free to delegate the task to someone with more time or better expertise. Try stepping back from volunteering for a bit. Make sure to ask for reasonable time frames that gives you back your evenings and weekends. Communicate with confidence instead of being overly apologetic. By saying no, you are saying yes to giving time to what matters most.

  • In a recent survey of more than 1,000 companies in 54 countries, 81% said it was important to have a plan for advancing gender equality — but only 42% actually did. Link
    Harvard Business Review Wed 14 Apr 2021 23:25

    Most companies say they’re committed to advancing women into leadership roles. What they may fail to recognize, though, is that systemic barriers are holding women back. As a result, women remain disadvantaged at every stage of their employment and underrepresented in positions of power.

    Drawing on their own research and the scholarship of others, the authors describe common forms of gender discrimination in seven key areas of talent management: attracting candidates, hiring employees, integrating newcomers into the organization, developing employees, assessing performance, managing compensation and promotion, and retaining employees.

    Companies can level the playing field by identifying patterns of gender bias in the way they treat people and then systematically making appropriate changes. They can, for example, avoid loaded language in job postings, anonymize the résumés of applicants, cultivate an inclusive culture, increase women’s access to...

  • “We find society functions because of the worrywarts in it, not despite them,” write authors Adrian Gostick and Chester Elton. Link
    Harvard Business Review Wed 14 Apr 2021 22:05

    Usually I’m wrong. Most planes and cars do not crash. I have yet to be targeted by a serial killer. I was not having a heart attack at age 12. (It was chronic heartburn due to stress-eating barbecue potato chips, a story for another time.) But this past year was different. A lot of really bad things happened (and continue to happen) on a global scale. My worldview, shaped by my lifelong anxiety disorder, felt confirmed in the most horrible of ways. “See!” I’d say to anyone who’d listen (usually my husband). “I told you something bad was about to happen. Just look at this!” I’d continue, gesturing madly at reports of wildfires, melting polar ice caps, the global pandemic, massive job losses, and attacks on democracy. I didn’t revel in my anxious clairvoyance. Far from it. But my hoarding of toilet paper in early March 2020 did feel prescient. “Aha!” my brain observed. “You were right! Keep indulging in such behavior!”

    So, what happens to your anxiety when...

  • During both times of crisis and business as usual, firms downsize as a way to reduce costs, adjust structures, and create more efficient workplaces. But research indicates that downsizing can correlate with bankruptcy. Link
    Harvard Business Review Wed 14 Apr 2021 21:15

    Firms often downsize because it is seen as a way to reduce costs, adjust structures, and create leaner, more efficient workplaces. But new research indicates that downsizing may actually increase the likelihood of bankruptcy. The research team examined 2010 data from 4,710 publicly traded firms and determined whether they declared bankruptcy in the subsequent 5-year period. After controlling for known potential drivers of both downsizing and bankruptcy, as well as numerous other factors, they found that downsizing firms were twice as likely to declare bankruptcy as firms that did not downsize.

  • Massive platforms like Amazon and Apple’s App Store have made it much easier for sellers to reach new customers — but as thousands of companies have discovered, conducting business on them carries significant risks and costs. Link
    Harvard Business Review Wed 14 Apr 2021 20:50

    Large digital multisided platforms (MSPs) such as Amazon, Alibaba, and Apple’s App Store have made it much easier for sellers to reach new customers, but as thousands of companies large and small have discovered, conducting business on them carries significant risks and costs. MSPs sometimes exploit sellers’ dependency on them in various subtle and not-so-subtle ways. They raise fees. They change their recommendation algorithms to put more emphasis on price. They require sellers to advertise to maintain visibility in search results. They compete against sellers by imitating their products. They impose restrictions on the prices sellers can set outside of the MSP. And they change their rules and design in ways that weaken sellers’ relationships with their customers.

    But all is not lost, say the authors. Sellers can employ four strategies to build viable businesses on platforms. They can develop and invest in direct channels, use platforms mainly as...

  • When you find yourself in a difficult work situation, here are some phrases to help you regain control. Link
    Harvard Business Review Wed 14 Apr 2021 19:15

    You know the moment: a mood-veering, thought-steering, pressure-packed interaction with a colleague, boss, or client when the right thing to say is stuck in a verbal traffic jam between your brain and your mouth. This analysis paralysis occurs when your brain suddenly becomes overtaxed by worry or pressure. Consequently, you find yourself unable to respond to a mental, psychological, or emotional challenge, and you fail to execute in the critical moment. Many people experience this at work. But there are seven key phrases you can use, tailored to specific situations. You can keep them in your back pocket for when these kinds of moments happen, route your response with them, and redirect the situation to regain control.

  • Subscribe to HBR and get access to a vast collection of past issues in our Magazine Archive. Link https://t.co/9UVWryYOdI
    Harvard Business Review Wed 14 Apr 2021 19:10
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