Certainly numerous surveys show employees are drawn to ethical companies that serve some sort of greater purpose, however tertiary it might be. But you could also pull out a ream of reports suggesting younger employees are rejecting the idea of finding purpose through work and serving a company’s goals, instead embracing “quiet quitting,” “lying flat,” and job hopping.I asked Todd whether he saw a generational divide in how employees measure trust in a company and he said that he tends “to be suspicious of those broad categorizations” but that UKG certainly adapts to employee needs based on where they are in their careers, rather than when they were born. “We meet people where they are on their career journeys, when they’ll have different expectations and goals. We tried to build an organization that is reflective of and responsive to that,” Todd says. That’s a tough but vital job for a manager, adapting to employee needs. People may choose to work at a company for any number of reasons—money, convenience, purpose—so a one-size-fits-all approach to trust building might not work. But a corporation can at least narrow the range of requirements by establishing a strong corporate culture and hiring people who best fit. “At the core, every organization has to be true to who they are,” Todd says.
IN OTHER NEWS
Xi meets Biden
U.S. President Joe Biden and Chinese President Xi Jinping had their first face-to-face in a year this week, meeting on the sidelines of the Asia-Pacific Economic Cooperation summit in San Francisco. Trade war tensions have yet to subside between the two superpowers, with the U.S. continuing to rack restrictions on semiconductor exports. Greeting Xi, Biden , "There is no substitute to face-to-face discussions. I've always found our discussions straightforward and frank."
The bankruptcy estate of FTX filed its latest lawsuit last week as part of its attempt to make customers whole, suing the crypto exchange Bybit for nearly $1 billion. According to the lawsuit, Bybit’s investment arm, Mirana, held around $850 million in FTX, which afforded it special privileges on the platform that managers exploited to withdraw funds when rumors of insolvency first started.
This could be an email
New technology from Microsoft, , and now allows people to skip Zoom meetings and send robot notetakers on their behalf. The practice is still in its infancy, but has already gained some traction, according to the . Some management experts worry that the practice could create a toxic work environment because sending a bot in your place suggests the meeting isn’t worth your time. Although, it might pressure people to reconsider when a meeting is really necessary.
The U.S. fiscal position is on an “unsustainable trajectory” due to a lack of political will to resolve the crisis at a time when debt costs are soaring, former Federal Reserve Bank of New York President Bill Dudley said last week. Dudley also pointed to ballooning costs of health care and social security as the baby boomer generation retires, further exacerbating the fiscal outlook.
“Even though the desire to achieve broader impact through ESG is good, the devil is in the details: the measurement and choice of metrics are enormously important, and the absence of clarity and consensus around them will introduce significant noise into investors’ portfolio choice conundrum.”
Two researchers in an op-ed for Fortune say they studied 235 stocks and found that ESG metrics “don’t just make a portfolio less profitable, but also less likely to achieve its stated ESG aims.” The issue is that ESG metrics are still too unregulated and diverse, which means stock pickers suffer “estimation risk,” which devalues their portfolio.
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