The Downside of Employee Recognition

Employee recognition programs have long been touted as a key driver of engagement and retention. However, as organizations strive to create cultures of appreciation, it's crucial to understand that not all recognition efforts yield positive results. In fact, some well-intentioned programs can backfire, leading to unintended consequences that may harm employee morale and productivity. Let’s explore some of the potential pitfalls of recognition programs as well as innovative approaches to…

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‘Far from clear’ new Alzheimer’s drugs will make a difference at a population level, say researchers

Writing in Alzheimer's & Dementia: The Journal of the Alzheimer's Association, the team from Cambridge Public Health argue that substantial challenges including the risk-benefit ratio, limited eligibility and high cost of roll-out will limit any benefits of these treatments.Alzheimer’s disease is often quoted as causing 70% of the 55 million cases of dementia worldwide, though the definition of what constitutes the disease is hotly debated. One characteristic of Alzheimer’s is…

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Beating ‘Not Invented Here’ Syndrome

Topics Frontiers An MIT SMR initiative exploring how technology is reshaping the practice of management. More in this series Andrew Baker/Ikon Images When I was managing director of the German subsidiary of U.S.-headquartered SC Johnson, I witnessed “not invented here” (NIH) syndrome in action. The larger company paid scant attention to an innovative air freshener product successfully launched by an Asian subsidiary, apparently due in part to bias toward innovations…

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A new way of thinking about the economy could help protect the Amazon, and help its people thrive

A group of conservationists from Bolivia, Brazil, Peru, Ecuador, the US and the UK say that current conservation and development efforts will never sustain or scale without systemic changes in how economies are designed.Despite extensive destruction of the Amazon in the name of economic development, Amazonian communities have seen little improvement in income, life expectancy, and education. The researchers have proposed a new model and associated policy changes that could…

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Start spreading the news: New York City travel and tourism are back

As the travel industry began to recover in 2021, we expressed our view that the enduring allure of New York would continue to draw visitors back to the city. That projection is well on track, as more than 62 million people visited New York City in 2023, representing 93 percent of 2019 levels. The city now expects to exceed prepandemic visitor numbers by 2025.Although travelers are back, their mindsets and behaviors…

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BRICS and the IMF Debt Traps. What Can the Contingent Reserve Arrangement Do for the Global South?

There are even two new BRICS members in this situation: Ethiopia and Egypt, the latter of which, as well as being a BRICS member, is also a member of the NDB, which has another member, Bangladesh, in the same situation. Ethiopia declared a default on its debt services in December 2023 (US$ 31 million) and is being pressured by the Paris Club to guarantee a US$ 3.5 billion loan with…

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LLM to ROI: How to scale gen AI in retail

Once generative AI (gen AI) hit the mainstream, in late 2022, it took little time for retail executives to realize the potential in front of them. Mentions of artificial intelligence (AI) in retailers’ earnings calls soared last year—which was no surprise, given that gen AI is poised to unlock between $240 billion to $390 billion in economic value for retailers, equivalent to a margin increase across the industry of 1.2 to…

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Watching for the Next Economic Downturn? Follow Corporate Debt

What really fuels a boom-and-bust cycle in the modern global economy? It’s not always household debt, says a new paper that parses in-depth data across 115 countries. Instead, rising corporate debt may flash the clearest warning that a fiscal crisis is on the horizon. In recent years, experts focused on housing and household debt for good reason: In the United States, a residential housing loan collapse touched off the deep…

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Labour’s Proposed Tax System Overhaul

By Tahir Mahmood and Marco Malagoni | 05 Aug, 2024 The next budget will be held on 30 October 2024 and we are now preparing for anticipated changes. Today, Tahir Mahmood and Marco Malagoni discuss the potential tax changes. Labour has proposed a comprehensive overhaul of the tax system, with assurances that there will be no increases in income tax, National Insurance, corporation tax or VAT. However, changes are anticipated…

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How European consumers perceive electric vehicles

Electric vehicles (EVs) are no longer a niche business. They now account for 16 percent of new-car sales in Europe, up from under 1 percent in 2019. Despite the removal of purchase subsidies in certain markets, such as Germany at the end of 2023, sales have remained stable. Since the beginning of 2024, more than 875,000 new full battery electric vehicles (BEVs) have been sold across the continent.As EV growth…

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Astronomers uncover risks to planets that could host life

The discovery suggests that the intense UV radiation from these flares could significantly impact whether planets around red dwarf stars can be habitable.“Few stars have been thought to generate enough UV radiation through flares to impact planet habitability. Our findings show that many more stars may have this capability,” said first author Vera Berger, who led the research while based at the University of Hawai’i and who is now based…

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Confiscation of Russian Assets: Politics Versus Economics

Politicians in American partner countries are obviously concerned that a new wave of crisis of investor confidence, provoked by the United States, will spread to their jurisdictions. Former British prime minister Rishi Sunak has repeatedly called for countries “to be bolder” in the confiscation of Russian assets; however, the confiscation bill introduced in Parliament was rejected, and representatives of the House of Lords, the Bank of England and many British…

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2024 VETS-4212 Filing Platform Opens (Quietly) on August 1, 2024—What to Know

Quick Hits The 2024 VETS-4212 reporting platform will open on August 1, 2024. All 2024 VETS-4212 filings are due by September 30, 2024. Federal contractors and subcontractors with a single covered contact of $150,000 or more are required to file VETS-4212 reports. The same data can be used for both the 2023 EEO-1 and 2024 VETS-4212 reports provided conditions are met. While there have been some updates to the U.S.…

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Cal/OSHA Publishes Draft Workplace Violence Prevention Standard With Additional Proposed Requirements

Quick Hits Cal/OSHA released a revised discussion draft of a proposed workplace violence prevention standard for general industry (non-healthcare settings). The draft proposal includes definitions of engineering controls and work practice controls, and it would require employers to communicate with “authorized employee representatives” and employees regarding workplace violence matters. Comments on the proposed standard are due by September 3, 2024, and an advisory committee hearing will be scheduled later this…

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The Application of Personal Goodwill in Accounting Firm Deals

Accounting firm deals often involve complex tax issues, and it is important to understand their implications. If you have any questions on this article, please do not hesitate to reach out to the author or Russell Shapiro, who leads LP’s Accounting Firm Practice. As part of our ongoing series on tax issues for accounting firm transactions, this article discusses the benefits of utilizing personal goodwill in accounting firm M&A deals when appropriate. Personal…

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Federal Court Permanently Blocks Florida Restrictions on Workplace Diversity Training

Quick Hits The U.S. District Court for the Northern District of Florida recently upheld an injunction against part of Florida’s Individual Freedom Act, also known as the Stop WOKE Act, which regulated the types of content that employers could include in employee training. The court found that a section of the law was unconstitutional because it violated employers’ First Amendment rights to free speech. Florida cannot enforce the part of…

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How to boost your composure and reduce investing FOMO

Have you ever invested due to a fear of missing out (FOMO)? Fearing that you’ll overlook the next big opportunity to grow your wealth might lead you to take on more risk or increase your exposure to a particular area or sector. Read on to find out how to boost your composure next time you’re facing investing FOMO. FOMO started as a term for the dismay you might feel if…

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Standard Contract Waiver Analysis Applies to Arbitration Agreements

Seyfarth Synopsis: The California Supreme Court reaffirmed that arbitration agreements are on equal footing with other types of contracts. Therefore, a court should apply the same principles that apply to other contracts to determine whether the party seeking to enforce an arbitration agreement has waived its right to do so. Quach v. California Commerce Club, Inc. The Facts In 2018, following his termination, Peter Quach sued his former employer, California…

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What Can Employers in Mexico Expect on Labor and Employment Matters in President Sheinbaum’s Administration?

Quick Hits Claudia Sheinbaum—the first woman to be elected president of Mexico—will begin her term of office on October 1, 2024. President-elect Sheinbaum has appointed Marath Baruch Bolaños Lopez to be Secretary of Labor and Social Welfare and a member of her cabinet. President-elect Sheinbaum’s labor and employment agenda includes, among other things, proposals to increase minimum wage rates and amend the Federal Labor Law to classify delivery app workers…

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3 in 5 homeowners are considering using equity release to fund their retirement plans

Homeowners worried they could face a financial shortfall in retirement are already considering using their property wealth to fund their plans. While equity release could provide a capital injection to reach retirement goals, it’s important to weigh up the pros and cons first. According to a survey conducted by the Equity Release Council (ERC), 3 in 5 homeowners are interested in releasing money from their property later in life. Indeed,…

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Fire and Re-hire: New Code of Practice comes into Force 

There are many reasons why an employer may wish to change the terms of an employment contract. However, where the change is unfavourable to the employee, particularly in relation to pay or benefits, the employee in question might not give their consent to the proposals. If the issue cannot be solved by negotiation, an employer can terminate the existing contract and offer the employee a new one. This is a…

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A clear-eyed view of gen AI for the private equity industry

In this episode of Deal Volume, McKinsey’s podcast on private markets, McKinsey partner and host Brian Vickery speaks with senior partner Ben Ellencweig. Ben leads alliances and partnerships for QuantumBlack, AI by McKinsey, and spends much of his time working with private equity (PE) firms and their portfolio companies. In this discussion, they get beyond the hype surrounding generative AI (gen AI) and discuss its implications for PE stakeholders. An edited…

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Healthy organizations keep winning, but the rules are changing fast

Organizational health is a moving target. Leaders at today’s healthiest organizations don’t run them the same way that the C-suite did in 2003, when McKinsey launched the Organizational Health Index (OHI).We created the index to help organizations gain vital insights into whether they have the right practices in place to drive sustained performance. In the two decades since then, OHI research has consistently shown that the best predictor of long-term performance…

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August 2024 Global Immigration Alert

Please note:  while we address certain country-specific updates, this Alert contains information regarding global requirements, policies, and procedures as they stand as of the date of publication. We highly recommend reviewing any global mobility inquiries on a case-by-case basis, including any consulate-specific or immigration authority resources, in “real-time” before traveling internationally. Please reach out to our Global Mobility Team in advance of any international travel. Canada –  Express Entry and…

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How a Mission to Cut Food Waste Launched a Multimillion-Dollar Venture

On a hectic Friday in October 2016, Josh Domingues wondered if he had made a mistake quitting the security of a well-paying job managing contracts for professional hockey players to start a new venture selling nearly expired groceries at discount prices. After all, a trial run of the 27-year-old entrepreneur’s Flashfood app at a Toronto supermarket hadn’t gone well, ending with confusion among customers and ire from the store manager.But…

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Research: Lifestyle changes could relieve the symptoms of Alzheimer’s

If you know anyone who has suffered from dementia, you will understand what a cruel illness it can be. From forgetting simple things to aspects of your loved one’s personality changing, dementia can completely transform a person you thought you knew. However, as you might’ve seen in the news, new advancements in dementia treatments could help to diagnose and treat the illness more effectively than ever before. Read on to…

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New Outlook for Windows now generally available for commercial customers

We are excited to announce the new Outlook for Windows is now generally available for commercial customers and will now receive full support from Microsoft's support channels, including Assisted Support! The new Outlook for Windows combines rich productivity features and the latest innovations: Enjoy a familiar, more productive, and seamless way to work. The evolution of the new Outlook for Windows is a collaborative effort, shaped by the voices, experiences, and feedback…

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Reimagining labor to close the expanding US semiconductor talent gap

As McKinsey has written previously, public and private investments to rapidly expand the United States semiconductor industry will total more than $250 billion by 2032. This investment brings with it more than 160,000 new job openings in engineering and technician support alongside additional openings in related construction craft jobs, according to McKinsey analysis. While numerous initiatives aimed at building these critical talent pipelines are planned or under way, the expected…

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Why Your Business Needs Data Privacy Consultants

Trust is a valuable commodity in the business world. When customers trust that their data is safe, they are more likely to remain loyal and even recommend your services to others. Data privacy  consultants help businesses create robust privacy policies that reassure customers their information is in safe hands.   What Do Data Privacy Consultants Do? Data privacy consultants are experts who specialize in safeguarding a company’s data. Their primary…

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Strategy Execution VS Strategy Implementation

To successfully transform your organization digitally, you must have a clear understanding of both strategy execution and strategy implementation. Often organizations will confuse Strategy Execution – the act of identifying and designing its strategy and the portfolio of projects necessary to realize that strategy – with Strategy Implementation – the act of actually spinning up and running […] The post Strategy Execution vs. Strategy Implementation: What Are the Differences? appeared first on Accelare.

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Trump Is Already Rattling the Stock Market

Former President Donald Trump has long regarded the stock market as a barometer for success, constantly touting record highs during his time in office and still bragging incessantly about the “beautiful” stock market on his watch. However, what many commentators miss is not just the 40 record highs the stock market has hit under the Biden-Harris administration—but also that while Trump does hold significant sway over pockets of the stock…

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A Year After the Summit: Development of Russian-African Cooperation

The Second Russian-African Conference of the Valdai Discussion Club was held at a high academic level and aroused wide media interest both in Russia and Tanzania. The African participants of the conference expressed a strong interest in continuing this work. In late July 2024, the Valdai Discussion Club held its Second Russian-African Conference. A year ago, ahead of the Russia-Africa Summit, the club organised the first conference of this kind…

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Seven Reasons to Strengthen Your Customer Benefits Focus

Neil Webb/Ikon Images Harvard Business School professor Theodore Leavitt emphasized the customer impact of benefits when he famously argued that people don’t want to buy a quarter-inch drill; they want a quarter-inch hole.1 Although his idea is straightforward, many companies still fail to appreciate how embracing a benefits-driven approach can help them unlock new opportunities — for innovation, customer satisfaction, and sustainable growth. Benefits are the desirable outcomes that customers…

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Michigan Supreme Court Reinstates Voter-Initiated Versions of State’s Paid Sick Leave and Minimum Wage Laws

Quick Hits On July 31, 2024, the Michigan Supreme Court, in a 4–3 decision, ruled that the Michigan Legislature violated the Michigan Constitution in 2018 by adopting voter-initiated laws and later amending the previously adopted laws in the same legislative session. The high court’s ruling reinstates the 2018 voter-initiated versions of the Earned Sick Time Act, which generally provides for more paid sick leave time and requires smaller employers that…

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Protect your school: Microsoft now offers multifactor authentication without a phone

Traditional passwords are increasingly vulnerable, leading to potential security breaches. Fortunately, there’s a promising development—Microsoft offers multifactor authentication (MFA) without a smartphone using secure, passwordless device access. As we look ahead to the upcoming school year in many places across the northern hemisphere, educational institutions face a daunting security landscape. The education sector regularly makes up over 80% of the reported malware encounters in any 30-day period. Traditional passwords are…

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As Sir Ian McKellen pulls out of theatre tour, who is the “understudy” for your finances?

Sir Ian McKellen recently stepped down from his role in the West End theatre show, Player Kings, a modern retelling of Shakespeare’s Henry IV, after a serious accident during the play. The legendary actor was performing a fight scene when he lost his footing and fell from the stage. Theatre staff and two medically trained audience members rushed to help him, and he was subsequently taken to hospital. The following…

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The rise, fall and revival of research on human development

Analysing the past sheds light on the present resurgence of research on human development. That’s the lesson of a new study by Professor Nick Hopwood, from the Department of History and Philosophy of Science, that is published in the Journal of the History of Biology. The paper discusses the flourishing of human embryology a century ago, its drop in popularity after World War II, and especially its revival since the…

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Five differentiators of outperforming family-owned businesses in India

The central role that family plays in the lives of Indians cannot be overemphasized. This is just as true in business. In India, family-owned businesses (FOBs) contribute more than 75 percent of national GDP, one of the highest percentages in the world, and this is likely to rise to 80 to 85 percent by 2047. McKinsey research reveals that, from 2017 to 2022, FOBs reported around 2.3 percent higher revenue…

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The Common Strategic Vision: The Reaction of Russia, the DPRK and the PRC to the Results of the NATO Summit in Washington

The reaction of Moscow, Pyongyang and Beijing, voiced essentially in unison by states which are organisationally independent and despite the lack of any special coordination on their part, is not only not accidental, it is quite natural: it reflects a common or very similar vision of strategic threats and challenges to their own national security both in the East Asian region and in the world as a whole, Alexander Vorontsov…

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The Iberian green industrial opportunity: Biomethane

The European Union (EU) has set ambitious decarbonization goals for all member states: at least a 55 percent greenhouse gas (GHG) emissions reduction target by 2030 compared to 1990 levels, and at least a 42.5 percent—although aiming for 45 percent—share of renewable energy consumption based on the Renewable Energy Directive III (RED III). To achieve these targets, major changes are required in Spain’s energy consumption. Alongside other levers such as…

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