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Global economic changes, AI investments, Soft skills and career changes
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In Today’s Menu for Knowledge-Hungry Business Professionals 😋…
LinkedIn’s AI-Powered Premium on its way to make hiring process more efficient
Microsoft and Alphabet: AI Investments, Lawsuits, and Growth
Global Economic Implications of Ongoing Palestinian Tragedy
Elon Musk's $44 Billion Twitter Bet Now Worth Just $19 Billion – A 50% Drop
The Soft Skills Behind Business Success (blog post + podcast)
From Corporate Conundrum to Career Catalyst: Linda Raynier's Inspiring Journey
Answer to Previous Week’s Business Challenge
How to Increase Employee Satisfaction & Productivity With Minimal Costs
Poll: Which Industry Do You Belong To?
Weekly Catchups
News | Industry Insights | Trends
🤖 LinkedIn’s AI-Powered Premium on its way to make hiring process more efficient: LinkedIn's new AI-powered Premium experience is a game-changer. It accelerates candidate assessment, simplifying initial screenings, and provides tailored career guidance for job seekers. In mere seconds, this AI scans your feed and highlights opportunities, optimizing time for both recruiters and job seekers. If effectively implemented, it could completely transform the hiring process. Currently, it's exclusively available to select LinkedIn Premium subscribers during the testing phase.
📈 Microsoft and Alphabet: AI Investments, Lawsuits, and Growth: Tech giants Microsoft and Alphabet have delivered remarkable three-year returns of 65% and 60%, bolstered by their diversified business models and investments in AI. Microsoft's acquisition of Activision Blizzard represents a gaming industry expansion, while Alphabet's Gemini AI model competes with Microsoft's ChatGPT. Both face U.S. government antitrust lawsuits, with Microsoft's higher earnings multiple reflecting its AI focus, while Alphabet's concentration on AI in YouTube and Google offers long-term growth potential.
🌍 Global Economic Implications of Ongoing Palestinian Tragedy: The intensifying conflict in Gaza raises concerns about regional stability and its implications for the global economy. The involvement of additional countries remains a serious risk with potential to affect international economic relations and market stability. JPMorgan Chase & Co. predicts that Israel’s economy may shrink by 11% on an annualized basis in the last quarter of the year. These projections reflect a bleaker economic outlook compared to initial estimates. Bloomberg Economics also estimates that oil prices could soar to $150 a barrel, leading to a global growth drop of 1.7%—a recession that could subtract approximately $1 trillion from the world's output. The wider consequences of the attacks could impact everything from emerging geopolitical realities to economic stability.
📉 Elon Musk's $44 Billion Twitter Bet Now Worth Just $19 Billion – A 50% Drop: Elon Musk's purchase of Twitter, rebranded as X, for $44 billion in October 2022, has resulted in a sharp devaluation, with the company now worth a mere $19 billion. This decline, less than half of the acquisition cost, calls into question the company's performance and initial valuation. The diminished value came to light when X extended stock grants to employees at a price of $45 per share, significantly below the $54.20 per share Musk originally paid for the purchase.
The Soft Skills Behind Business Success
Carlo Vivaldi's remarkable career journey, from an unassuming small-town bank teller to a prominent global banking executive, is a testament to the power of soft skills. At the heart of his success story are two key ingredients: emotional intelligence and the art of effective communication. Vivaldi's narrative underscores the critical role of diverse and ever-evolving teams in the pursuit of professional excellence. His secret to success lies in a unique blend of personal strengths, the cultivation of self-sustaining workplace cultures, and the occasional sprinkle of luck.
Nurturing The Leader Within
Personal Development | Success Story
From Corporate Conundrum to Career Catalyst
Seven years ago, Linda Raynier stood at a crossroads, a pivotal moment in her professional journey. Her heart pounded as she entered her boss's office, a weighty question poised on her lips. "So…are you letting me go?" she tentatively inquired.
Her boss leaned forward, wearing a grave expression, and replied, "No, Linda, we're not letting you go. We just want to encourage you to get back to the old Linda that we all know."
For three consecutive years, Linda had been a top-performing recruiter, earning accolades, bonuses, and special opportunities. She was accustomed to scaling career heights and revelling in the satisfaction of a job well done. But in the preceding months, something had shifted.
She had begun to dread her daily routine.
Sunday Night Blues
Tears, exhaustion, and a sense of hopelessness plagued her work life. She knew she needed a change, a new direction.
Contemplation and sleepless nights had led her to a momentous decision – it was time to hand in her resignation. This wasn't a mere job change; this was a decision to carve a path of her own, to pursue her passion, and to become an entrepreneur.
The day she handed in her resignation, the air in her office seemed to shift. A strange serenity overcame her, and it was accompanied by an unforeseen wave of confidence. This was her moment, and she knew she could not return to being the "old Linda" they desired.
In my heart of hearts, I knew that I could not possibly revert back to that old version of Linda that they wanted me to be.
In her heart, a greater mission called out to her. She wanted to help people in their careers. Her experience working with accountants and professionals in the corporate world had prepared her for a new role – a career strategist, speaker, and coach.
"I knew I wanted to be a coach of some sort, but I really honestly didn't know what kind of coach," she explained in an interview with Horizon Search. Her journey had no clear roadmap, but she was ready to create her path.
Soon after her resignation, synchronicity played its part. Within weeks, CPA Ontario, the organization for CPAs in Canada, approached her to become a part-time career coach for their members. This step allowed her to utilize her experience working with CPAs and offer career coaching services.
First Client
Her first client marked a pivotal moment. This client's desire to dive deeper into career coaching prompted Linda to offer her coaching services, even though the path ahead wasn't entirely clear. Time and experience encouraged her to begin formulating coaching packages.
The turning point came when her client secured a job offer, successfully negotiated, and saw tangible results. Linda realized that she was onto something significant. Her career as a career strategist, speaker, and coach was taking shape.
In August 2016, her husband's opportunity to work in London, UK, for a few months presented itself. Without hesitation, Linda embraced this change, expanding her horizons and enjoying a well-deserved break.
20M views!
Upon her return in September, she was ready to embark on her online journey. In October, she launched her YouTube channel, a platform for sharing her insights. While her initial videos may not have garnered immediate success, Linda's ninth video, addressing the "tell me about yourself" interview question, became a viral sensation, with over 20M views.
"I feel like I was one of the OG career strategists on YouTube," she acknowledged. Her journey led her to develop self-study courses such as Top Notch Resume and Top Notch Interview, transforming lives with practical guidance.
Linda envisions expanding her business in 2024. Her mission has evolved beyond merely helping individuals secure job offers. Now, she strives to guide high-achieving corporate women toward sustained success and professional growth. Her aim is to help them embrace the transformative power of personal development and professional growth, even after they've landed the job.
Linda Raynier's story is a testament to the resilience of the human spirit, the power of self-belief, and the endless possibilities that emerge when one follows their heart, even when the path ahead is uncertain.
Interactive: What would you do?
Weekly Business Challenge + Answer in The Following Week
Answer to Previous Week’s Business Challenge!
Problem: A company that produces diagnostic imaging equipment faced a unique challenge, despite having a product that was well-received in the healthcare industry. Their magnetic resonance imaging (MRI) machines, while highly effective, posed a significant problem when it came to pediatric patients. The traditional MRI environment, with its long, cold, and dark procedures, often caused distress and anxiety among children, leading to crying and uncooperativeness. How would you solve this problem?
Solution: To solve the problem of children's anxiety and fear during medical scans, GE Healthcare took a human-centred design approach. Industrial designer Doug Dietz attended a design thinking workshop at Stanford's d.school, which equipped him with new tools and creative confidence. GE formed cross-functional teams and collaborated with child life specialists, volunteers, experts, and healthcare professionals. This collaborative effort led to the development of the "Adventure Series" scanner, with various themed experiences like the Pirate Adventure, Coral City Adventure, and Cozy Camp, transforming the medical environment into a child-friendly and less intimidating space. The "Adventure Series" scanner was installed as a pilot program at the University of Pittsburgh Medical Center, addressing the emotional well-being of pediatric patients.
Stay tuned for next week’s business challenge!
Biz Hacks
Strategies | Tools | Marketing Tips
How to Increase Employee Satisfaction & Productivity With Minimal Costs
Employee satisfaction is a critical factor in a company's success. Satisfied employees are more productive, engaged, and likely to stay with the organization for the long term. While providing benefits like medical coverage and dental insurance is essential, it's not the only way to increase employee satisfaction. In fact, many employees may not feel entirely fulfilled or productive despite having their medical bills covered. So, how can you improve employee satisfaction without significantly increasing costs on benefits? Let’s get into it.
#1 Improve the Workplace Environment
Creating a positive and comfortable work environment is one of the most impactful ways to boost employee satisfaction. When employees enjoy their workplace, they're more likely to be motivated and productive. Consider these factors:
Comfortable Facilities: Invest in ergonomic furniture, well-lit workspaces, and a clean, organized office. When employees have a pleasant environment to work in, they'll be happier and more focused.
Free Food and Snacks: Offering free snacks, coffee, or occasional meals can go a long way in making your employees feel valued. It also saves them time and money they would have spent on purchasing food elsewhere.
Flexible Schedules: Allowing your team to have more control over their work hours and offering options like remote work can significantly increase satisfaction. Flexibility helps employees balance their personal and professional lives, reducing stress and increasing well-being.
#2 Provide Recognition
Employees thrive on recognition and appreciation for their hard work. Acknowledging their efforts can boost morale and motivation. Here are some ways to provide recognition:
Regular Feedback: Give constructive feedback on employees' performance. Praise their achievements, and offer guidance on areas that need improvement. This feedback loop helps them grow and feel appreciated.
Public Praise: Recognize exceptional work in team meetings, newsletters, or on a public platform. Celebrating their successes in front of peers can boost morale and inspire others.
Awards and Incentives: Create an awards program that acknowledges outstanding contributions. These awards can be certificates, plaques, or small bonuses. It's a cost-effective way to motivate your team.
#3 Offer Opportunities for Growth
Employees are often motivated when they see a path for career advancement and personal development. Providing opportunities for growth can have a significant impact on their satisfaction:
Training and Development: Invest in training programs, workshops, and courses to help employees enhance their skills and knowledge. This not only benefits them but also increases their value to the company.
Career Advancement: Offer a clear path for career progression within the organization. Encourage employees to set goals and provide them with the support and resources needed to achieve those goals.
Challenging Projects: Assign challenging tasks and projects that allow employees to apply their skills and creativity. This keeps work interesting and helps maintain motivation.
Increasing employee satisfaction without inflating benefit costs is achievable. By focusing on improving the workplace environment, providing recognition, and offering opportunities for growth, you can create a more motivated and productive team. These strategies not only enhance job satisfaction but also contribute to a positive company culture that attracts and retains top talent. Remember that every employee is unique, so be attentive to their individual needs and preferences to create a tailored approach to motivation and satisfaction.
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