Number Women in Construction Hits an All-Time High hsauer Wed, 11/30/2022 - 11:47

Ella Washington, an organizational psychologist at Georgetown University, argues that private sector American organizations have a big role to play in sustaining the fight for racial justice that has gained such momentum in recent weeks. She says that widespread protests should mark a shift in how companies and their leaders push for government policy change, think about diversity and inclusion in their own workplaces, and strive to combat bias and inequality in U.S. society. It not enough for CEOs to release statements and continue on with business as usual. To promote real change, they need to work on these issues each and every day. Washington is the coauthor of the HBR article "U.S. Businesses Must Take Meaningful Action Against Racism."

Megan Rapinoe, U.S. women's soccer star and World Cup champion, knows how to perform under pressure, motivate her teammates, and advocate for the causes she believes in. In addition to her stellar play as a professional athlete, she's been outspoken about racial justice, LGBTQ rights, and gender pay equity. She offers lessons on overcoming losses, growing into a leadership role, becoming an ally, and operating as your authentic self.

Rafi Mohammed, founder of the consulting firm Culture of Profit, says a crisis or recession is not the time to panic and slash prices. He says leaders should instead reevaluate their price strategy — or develop one for the first time — to better respond to customers during the slump and keep them when the economy recovers. He shares examples of companies across a variety of industries that have created effective price strategies as well as his advice for changing prices in response to Covid-19. Mohammed is the author of “The 1% Windfall: How Successful Companies Use Price to Profit and Grow.”

James Suzman, an anthropologist and former executive, says one way to better understand the future of work is to learn from the history of it. He has studied an ancient hunter-gatherer society in Namibia and says our modern notions of work, economy, and productivity are perhaps too limiting. Suzman argues that humans have always been drawn to work for its intrinsic value, and that managers can prepare for the future workplace by broadening their thinking about work and purpose. Suzman is the author of the new book "Work: A History of How We Spend Our Time."

Women at Work is a podcast from Harvard Business Review that looks at the struggles and successes of women in the workplace, hosted by HBR's Amy Bernstein, Amy Gallo, and Emily Caulfield. In this episode, you'll hear about the tension that comes from feeling like you are a shy person, but also an ambitious one who want to lead a team. Former clinical psychologist Alice Boyes gives advice on the professional advantages of certain personality traits related to shyness — like sensitivity and thoughtfulness — and discusses strategies to overcome the aspects of them that may hold you back at work.

Anne Wojcicki, CEO of 23andMe, spent a decade in healthcare and biotechnology before launching the DNA testing and analysis company in 2006. Her goal was twofold: to help individuals learn more about their own genetics, enabling them to pursue more personalized medical care, and to create a database of genetic information for commercial and academic researchers to promote broader improvements to the healthcare system. She speaks with HBR's Editor-in-Chief Adi Ignatius about tackling challenges in an emerging industry.

Daniel Kahneman, Nobel Prize winner and emeritus professor at Princeton University, and Olivier Sibony, professor of strategy at HEC, say that bias isn't the only thing that prevents people and organizations from making good choices. We’re also susceptible to something they call "noise" - variability in calls made by otherwise interchangeable professionals and even by the same person at a different time or day. But the solution isn’t necessarily taking humans out of the equation with artificial intelligence. There are ways to combat noise, and leaders should take steps to do so. Kahneman and Sibony are the coauthors, along with Cass Sunstein, of the book "Noise: A Flaw In Human Judgment."

Martin Baron, former executive editor of the Washington Post, managed the newsroom during a decade of incredible change and shifting views about the media and truth. Baron led his team through a tumultuous time, as they covered everything from the Trump presidency, to the covid pandemic, to the Black Lives Matter movement. Along the way, he learned some important lessons about managing a public-facing company while remaining true to its purpose and mission. He speaks with HBR editor-in-chief Adi Ignatius.

Johnny C. Taylor Jr., CEO and President of the Society for Human Resource Management, says that this is a reset moment for organizations that want to finally get human resources right. The crisis has taught leaders just how important it is to find and mobilize talent and evaluate and adjust to employee needs. He shares research on several trends set to accelerate, including hybrid and contract work and diversity, equity, and inclusion efforts, and offers guidance to leaders around the world trying to identify what the "new normal" should look like in their organizations.Taylor is the author of the book "Reset: A Leader's Guide to Work in an Age of Upheaval."

Alexandra Feldberg and Tami Kim, assistant professors at Harvard Business School and the University of Virginia Darden School of Business, respectively, say companies are overlooking an important place to root out bias: on the front lines with customers. While many firms are promoting a more equitable workforce through their HR functions, too few firms even realize how costly bias can be in everyday interactions between workers and customers. The researchers explain how organizations can identify and address this overlooked problem. Feldberg and Kim are the coauthors of the HBR article "Fighting Bias on the Front Lines."

Companies pay disproportionately high salaries to CEOs and other high-powered professionals willing to live and breathe their jobs, on-call 24/7, ready to pick up and travel. It's a phenomenon Harvard historian and economist Claudia Goldin calls "greedy work" and she says it's a big reason why the pay gap between men and women persists -- because the people typically tasked with caring for kids, the house, or elderly parents simply can't put in as much time and energy at the office. However, she notes, there are signs of change, with younger generations demanding better balance.

Stefanie Stantcheva, economist at Harvard University, founded the Social Economics Lab to study inequality, our feelings about it, and how policies influence it. She says when we estimate how much money our colleagues make or how much taxes impact us, we are often very far off from the truth. Her research also shows that our misconceptions are often linked to political beliefs. She argues that we need to be more aware of the realities of inequality if we want to create better economic opportunities.

You've probably heard about the benefits of mindfulness and how meditation can help you achieve it. But you still can't find the inclination to start or the time to practice regularly. In this short bonus episode, Rasmus Hougaard, the CEO of Potential Project and a meditation expert who has studied with the Dalai Lama, takes us through a short exercise and explains why mindfulness is a game-changer for our careers and well-being. Skeptics welcome!

Keith Ferrazzi, founder of the consulting firm Ferrazzi Greenlight, led a survey of more than 2,000 executives to study how they reengineered operations during the pandemic. The research identified a kind of extreme adaptability at the team and organizational levels that helped some companies come out on top. Ferrazzi argues that after months of ruthlessly adapting, leaders should continue on a path of resilience and agility to stay competitive in the post-Covid-19 world. And he offers concrete steps to take. Ferrazzi is a coauthor of the new book "Competing in the New World of Work: How Radical Adaptability Separates the Best from the Rest."

It's a cliche, but they say it's best to write what you know. That was the case for comedian Sarah Cooper, who rose to viral social media fame in the Trump era through her lip sync TikTok videos. She formerly worked at Yahoo and Google, and she found her way into comedy, in part, by looking at and pointing out the absurdities of corporate culture. She speaks about how humor helped her manage a team, why she took the big risk to quit her job, and how she's navigating the new work world of Hollywood. Cooper is the author of the forthcoming audio book "Let's Catch Up Soon: How I Won Friends and Influenced People Against My Will."

It feels like a moment of panic for many. While there were some success stories in how public and private sector leaders managed the global pandemic, it isn't over, and many more crises -- from political polarization to climate change to new technological threats -- loom. But one leading political scientist is hopeful that countries and corporations can find ways to overcome their divisions and better collaborate on our most pressing issues over next ten years. He points to historic precedents and makes specific recommendations for the future, noting that in areas where political divisions cause roadblocks, it will be up to corporate leaders to ensure progress. Ian Bremmer is the president and founder of the Eurasia Group and author of the book “The Power of Crisis: How Three Threats – and Our Response – Will Change the World.”

In an ideal world, professional conflicts are settled with thoughtful discussion and collaborative decision-making. But that’s not usually how it works. More typically, you see leaders - or the loudest voices - win out, leaving others resentful. And sometimes people don’t even try to hash out differences of opinion; they’d prefer to avoid a fight. Bo Seo, two-time world champion debater, says we can learn to disagree in healthier, more effective ways that ultimately generate better outcomes for teams, customers, and shareholders. Seo is also the author of the book “Good Arguments: How Debate Teaches us to Listen and Be Heard.”

For a long time, we have believed that strong corporate governance is enough to prevent CEO malfeasance. However, new research shows that the lifestyle behaviors of executives can spell trouble for companies, regardless of the guardrails in place. Aiyesha Dey, an associate professor at Harvard Business School, has investigated executives’ past criminal records and the cost of their homes and automobiles. Her research has linked an individual’s materialism and propensity for rule breaking to fraud, insider trading, and risky business activities. She says that boards and other hiring bodies should pay more attention to personal behavior when picking organizational leaders. Dey wrote the HBR article "When Hiring CEOs, Focus on Character."

It might still seem like a buzzword, or something that only matters to tech CEOs. But Matthew Ball, CEO of Epyllion and the former global head of strategy for Amazon Studios, says the metaverse is the "new internet" – and that it's already here. He argues that companies large and small need to not only better understand what the metaverse is, but should also be developing strategies around it today. That can have an impact on marketing, customer relations, product development, and much more, he says. Ball is the author of "The Metaverse: And How it Will Revolutionize Everything."

Measuring a broad set of standards across the organization seems like a fair way to judge employees’ performance year over year. But Heidi Gardner, distinguished fellow at Harvard Law School, says performance management systems often incentivize employees to scramble to hit their numbers and lose sight of the organizations’ bigger objectives. To boost collaboration and long-term customer value, Gardner shares a four-part scorecard that establishes shared organizational goals while also holding employees accountable for individual results. With Ivan Matviak of Clearwater Analytics, Gardner wrote the HBR article “Performance Management Shouldn’t Kill Collaboration.”

Artificial intelligence technology has been advancing, and businesses have been putting it into action. But too many companies are just gathering a bunch of data to kick out insights and not really using AI to its fullest potential. Joshua Gans, professor at Rotman School of Management, says businesses need to apply AI more systemically. Because decision-making based on AI usually has ripple effects throughout the organization. Gans cowrote the HBR article “From Prediction to Transformation" and the new book "Power and Prediction: The Disruptive Economics of Artificial Intelligence."

In 1878, a machinist at a Pennsylvania steelworks noticed that his crew was producing much less than he thought they could. With stopwatches and time-motion studies, Frederick Winslow Taylor ran experiments to find the optimal way to make the most steel with lower labor costs. It was the birth of a management theory, called scientific management or Taylorism. Critics said Taylor’s drive for industrial efficiency depleted workers physically and emotionally. Resentful laborers walked off the job. The U.S. Congress held hearings on it. Still, scientific management was the dominant management theory 100 years ago in October of 1922, when Harvard Business Review was founded. It spread around the world, fueled the rise of big business, and helped decide World War II. And today it is baked into workplaces, from call centers to restaurant kitchens, gig worker algorithms, and offices. Although few modern workers would recognize Taylorism, and few employers would admit to it. 4 Business Ideas That Changed the World is a special series from HBR IdeaCast. Each week, an HBR editor talks to world-class scholars and experts on the most influential ideas of HBR’s first 100 years, such as disruptive innovation, shareholder value, and emotional intelligence. Discussing scientific management with HBR senior editor Curt Nickisch are: Nancy Koehn, historian at Harvard Business School Michela Giorcelli, economic historian at UCLA Louis Hyman, work and labor historian at Cornell University Further reading: Book: The One Best Way: Frederick Winslow Taylor and the Enigma of Efficiency, by Robert Kanigel Case Study: Mass Production and the Beginnings of Scientific Management, by Thomas K. McCraw Oxford Review: The origin and development of firm management, by Michela Giorcelli

The number of women—especially women of color—in leadership ranks at the world’s largest companies remains desperately small. Tina Opie, associate professor of management at Babson College, offers a new practice for women to lift each other up and fight systemic bias in the workplace, something she calls “shared sisterhood.” The idea is to be more honest with each other, forming truer bonds. That involves listening, understanding yourself, and a willingness to take risks. With University of Iowa management professor Beth Livingston, Opie wrote the new book “Shared Sisterhood: How to Take Collective Action for Racial and Gender Equity at Work.”

Companies offer sponsorship programs to help a more diverse group of high performers and future leaders advance. But the efforts can often misfire. Herminia Ibarra, professor at London Business School, says that’s because these arranged developmental relationships can lack authenticity and meaningful paths for action. She explains the key distinctions of mentorship and sponsorship and recommends that companies focus on two vital qualities: public advocacy and relational authenticity. Ibarra wrote the HBR article “How to Do Sponsorship Right.”

From videos of drunk and disorderly airline passengers to stories of hospital visitors angrily refusing to wear masks, customer-facing work seems to have gotten a lot more difficult – even dangerous -- over the past few years. It's important that organizations understand the experience of frontline workers now, and help to better protect their employees, says Christine Porath, professor of management at Georgetown University. She's studied incivility for 20 years, and has spoken to workers in many industries in the last few years about what it's like working with customers today - with stress, anger, and incivility seemingly on the rise. And she has advice for managers and leaders. Porath is the author of the HBR Big Idea article "Frontline Work When Everyone Is Angry."

Over the past few years, organizations around the world have invested in diversity, equity, and inclusion initiatives with varying results. But to achieve lasting change, they'll need to commit to that work for much longer, says Ella Washington, organizational psychologist and professor at Georgetown University’s McDonough School of Business. Her research shows that companies move toward DEI maturity in five stages (aware, compliant, tactical, integrated, and sustainable) and each takes time to work through. She explains why some organizations get stuck, and how to overcome those challenges. Washington is author of "The Necessary Journey: Making Real Progress on Equity and Inclusion" and the HBR article "The Five Stages of DEI Maturity."

Managing rapid growth is a huge challenge for young businesses. Even start-ups with glowing reviews and skyrocketing sales can fail. That’s because new ventures and corporate initiatives alike have to sustain profitability at scale, according to Harvard Business School senior lecturer Jeffrey Rayport. He has researched some of the biggest stumbling blocks to long-lasting success and explains how to make the tricky transition out of the start-up phase successfully. With professors Davide Sola and Martin Kupp of ESCP Business School, Rayport cowrote the HBR article “The Overlooked Key to a Successful Scale-Up.”

Even in a slowing economy, the battle to attract and retain talent persists. But employers need to look beyond what people are currently demanding — whether it’s higher salaries, more stock options or the flexibility to work from home. Studies show that, over the long term, employees also find value in aspects of work that they overlook in the short term, such as community and opportunities for growth. Professor Amy Edmondson and INSEAD associate professor Mark Mortensen offer up strategies for a holistic talent acquisition and retention strategy that incorporates more lasting benefits, even if workers aren't asking for them right now. Edmondson and Mortensen are the authors of the HBR article "Rethink Your Employee Value Proposition."

For years, employers have used university degrees as a major requirement for hiring. But, for many jobs, success depends more on skills -- and the ability to adapt and learn -- than on piece-of-paper credentials. Ginni Rometty, former chairman and CEO of IBM, realized this early on -- first by watching her mother and other female relatives support their families and later by seeing what it took to rise to the top in her own career. At the helm of IBM from 2012 to 2020, she pushed the company to adopt skills-first recruitment and development practices, and now she's encouraging other organizations to do the same through her work at the non-profit OneTen. Rometty is coauthor of the HBR article “The New-Collar Workforce,” and the book Good Power: Leading Positive Change in Our Lives, Work, and World.

The online application ChatGPT and its integration into Microsoft search engines have put generative artificial intelligence technology in the hands of millions of people. Early adopters are using them in their daily jobs, and preliminary academic studies show big boosts in productivity. Managers can’t sit on the sidelines, says Ethan Mollick, an associate professor of management at The Wharton School of the University of Pennsylvania. He argues that companies urgently need to experiment with ChatGPT and eventually develop policies for it. He explains the breakthrough, some promising uses, open questions, and what the technology could mean for workers, companies, and the broader economy. Mollick wrote the HBR article "ChatGPT Is a Tipping Point for AI."

Most of us can point to a few key people who have made a real difference in our lives and careers - a family member, a coach, a boss. And many who get that kind of mentoring build on the lessons they learn to become leaders and role models themselves. Basketball star Chris Paul is a prime example. He had the support of a tight-knit family growing up, was mentored by a great coach in college, and as an NBA rookie looked to league veterans for guidance. Now, at age 38, he's the seasoned vet, a perennial All-Star across multiple teams who led the National Basketball Players Association from 2013 through the 2020 Covid-19 crisis and racial reckoning in the United States and is widely regarded as one of the best point guards of all time. Paul's new book is "Sixty-One: Life Lessons from Papa, On and Off the Court." Note: This episode was taped before the start of the 2023 NBA playoffs.

Middle managers are meant to serve as a go-between for leadership teams and individual contributors. But in large organizations, with many layers of hierarchy, some of these roles feel like bureaucratic bloat, which, in tighter economic times, makes them a target for elimination. Emily Field, a partner at McKinsey & Company, thinks in many cases that's a mistake. She argues that most middle managers are critical to corporate performance and productivity, executive team insight, and employee well-being. The key is making sure their roles adapt to the times. Field is the coauthor, along with Bryan Hancock and Bill Schaninger, of the HBR article "Don’t Eliminate Your Middle Managers," as well as the book Power to the Middle: Why Managers Hold the Keys to the Future of Work.

After decades of industrial policy that favored globalization and free trade, we are entering a new era. Prompted by the pandemic, climate change, rising geopolitical tensions and economic concerns, countries and groups of countries are once again using the power they have to intervene in the private sector, whether it's investing in drug development, offering clean energy tax breaks, or incentivizing domestic manufacturing. Harvard Business School professor Willy Shih wants to help corporate leaders navigate these changes in a way that protects their businesses, workers, and customers. He explains the new challenges - as well as opportunities. Shih wrote the HBR article, "The New Era of Industrial Policy is Here."

How does a brand or product that's been around for decades suddenly become popular with a whole new segment of consumers? Terence Reilly has some pointers. As CMO of Crocs, he used social media and celebrity collaborations to drive sales of its signature boat shoes. Now, as president at Stanley, he has made the company's durable mugs TikTok famous and bestsellers across numerous retail outlets. He explains how listening to employees and customers and acting quickly on their insights can help any organization spur growth.

It’s a reality that more employees are discussing their mental health in the workplace. And proactive leaders can serve their teams better by listening and responding. At the same time, managers can’t play the role of a therapist or the HR department. Counseling psychologist Kiran Bhatti and University of Cambridge leadership professor Thomas Roulet argue that following the basic practice of cognitive behavioral therapy can serve managers well. The researchers explain the mental-health first-aid tool, how managers can help employees address emotional distress and negative behavioral patterns, and how that can strengthen the work culture and ultimately the business. Bhatti and Roulet wrote the HBR article, “Helping an Employee in Distress.”

Traditionally, private equity companies have created value at the companies they own by taking on debt, restructuring, and exploiting underserved opportunities. But surging interest rates and increased competition have made it much harder to deliver strong returns. Ted Bililies, a partner and managing director of AlixPartners, says private equity leaders can no longer count on financial engineering to drive performance. Instead, they need to invest in the human capital at their portfolio companies. Bililies wrote the HBR article “Private Equity Needs a New Talent Strategy.”

For a long time, conventional wisdom ruled that companies should avoid reselling their own products in used condition. There’s the threat of cannibalization, marketing confusion, and tricky logistics that can erase margins. But more name-brand retailers are jumping into resale, says Wharton marketing professor Tom Robertson. Thanks in part to Gen Z with its zeal for sustainability, he says consumer demand is rising fast for reused goods. He sees a revolution where brands cash in on resale, knowing that if they don’t own those customer relationships and sales, others will. Robertson wrote the HBR article “The Resale Revolution.”

Most good bosses know that they should schedule regular one-on-ones with each of their team members. But fewer know exactly how to manage these meetings well, in part because organizations rarely offer relevant training. Steven Rogelberg, Chancellor's Professor at the University of North Carolina at Charlotte, has spent years researching the best way to prepare for, structure, engage in, and follow up on one-on-ones. He says they're a key way to boost performance, and offers tips for ensuring that we all get more out of them. Rogelberg is author of the book Glad We Met: The Art and Science of 1:1 Meetings.

The rapid pace of technological change is making a big impact on hiring. Some organizations are dynamically securing freelance workers through platform apps like Upwork and Freelancer. Other companies are investing heavily in work enabled by artificial intelligence. John Winsor and Jin Paik say these structural changes call for a reimagining of your talent strategy — one that is open to flexible, project-based work for talent inside or outside your organization — and they explain how to go about it. Winsor is the founder and chair of Open Assembly and an executive-in-residence at the Laboratory for Innovation Science at Harvard. Paik is a cofounder and managing partner at the AI consultancy Altruistic and a visiting research scientist at Harvard Business School. Together, they wrote the book Open Talent: Leveraging the Global Workforce to Solve Your Biggest Challenges and the HBR article "Do You Need an External Talent Cloud?"

A growing number of workers are reaching retirement age around the globe. At the same time, many countries face a worker shortage, especially in critical areas like health care. Ken Dychtwald, cofounder and CEO of Age Wave, says it’s time for companies to stop overlooking this valuable labor pool, because AI alone won't alleviate the tight supply. He explains why many late-career people want to work longer. And he shares creative and often simple ways that companies can keep older workers engaged, including phased retirements, non-ageist recruiting, mentorship programs, and grandparental leave. Dychtwald is a coauthor of the HBR article "Redesigning Retirement."

There's plenty of advice on how to grow into a better leader. And it takes effort to become more effective. But bad leadership gets worse almost effortlessly, says Barbara Kellerman, a Center for Public Leadership Fellow at Harvard Kennedy School. She shares real examples from the public and private sectors of how bad leaders spiral downward, and how bad followership enables that negative trend. She gives her advice for recognizing and avoiding ineffective and unethical leaders. Kellerman is the author of the new book Leadership from Bad to Worse: What Happens When Bad Festers.

Managing technology has never been more challenging. HBR IdeaCast’s new special series, Tech at Work, offers research, stories, and advice to make technology work for you and your team. This week: how your team can get the most out of working with generative AI.

After 15 years leading the parent company of KFC, Pizza Hut, and Taco Bell, David Novak wanted to help others become better leaders. He believes the key is to put learning at the center of everything you do, whether you’re an entry-level worker or a multinational executive. Novak outlines three main areas for learning: from your own life experiences, from the people and situations available right now, and from the habit of curiosity. Above all, he says the most effective leaders turn their learnings into action, something that takes insight and practice. Novak’s new book is How Leaders Learn: Master the Habits of the World's Most Successful People.

Around the world, the past few years have been marked by increasing political polarization and public outrage. Like it or not, this spills over into the business world, with employees, customers, and shareholders more willing than ever to challenge companies -- and one another -- on a range of issues. It's hard to know how to lead gracefully in such turbulent times, but Karthik Ramanna, professor at the University of Oxford's Blavatnik School of Government, has some answers. Drawing on his work with government officials and corporate executives, he walks us through the root causes of our current crisis, explains how to effectively navigate through disagreement, and offers practical takeaways for managers at every level. Ramanna is the author of the book The Age of Outrage: How to Lead in a Polarized World.

Imagine you’re leading a small organization, but you’re struggling to recruit and afford the senior talent you need to grow. You could hire a part-time executive. So-called “fractional leadership” is common in startups and is spreading to other businesses and nonprofits. But while a fast-growing number of senior leaders seek this work arrangement, many companies are unsure of how to go about it. Tomoko Yokoi and Amy Bonsall are experts on the practice. Yokoi is a researcher at the TONOMUS Global Center for Digital and AI Transformation at IMD Business School. Bonsall is a former executive at IDEO and Old Navy who works as a part-time chief product officer with several organizations. They explain when and how fractional leadership works best—for the individual as well as the organization—and how to do it right. Yokoi and Bonsall wrote the HBR article “How Part-Time Senior Leaders Can Help Your Business.”

From left, Shelly Vincent, Laura O’Connor, Dan Troup, Shaleen Khatod and moderator Dave Garland. Photo by AJ Canaria.  It isn’t as shiny and new as it was a couple years ago, when ChatGPT took the world by storm, but AI, or large language models, are still highly influential and fast-evolving pieces of technology that real…

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In the dynamic realm of real estate, success hinges on the ability to attract, recruit and retain top talent. Reflecting on my early days in the industry, the memories of my first listing, first buyer and inaugural closing flood back. Those experiences instilled in me a profound sense of confidence, akin to the surge that…

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Maria takes a look at the CHA Mega Show 2016 Hot Product Sneak Peek event, and shows readers a few of the products featured from Boye, Offray, and Adtech.