- Tech CEO salary rose 15 percent last year on average to $6.6 million. The average median pay for all their workers declined 2 percent to $82,500, yielding a CEO-to-employee pay ratio of 129 to 1. (equilar)
- In a recent survey, employees preferred higher salaries over other factors such as more vacation time, more senior titles, and more flexible work schedules. However, 60% of business leaders thought that their employees would prefer more flexible schedules over higher salaries. (Washington State University)
- Millennials show higher rates of turnover than comparable Gen Xers, but the reasons why contradict many generational stereotypes. Millennials are more likely to stay in their jobs if their base pay is higher, which goes against the thinking that millennials are mission-driven or risk-taking in their careers. (Mercer)
- In a recent survey, 69% of Americans said that artificial intelligence should not be used in the hiring process. (Yoh)
- Women aged 25 to 54 joined the workforce at faster rates than their male peers in 2018, according to data from the U.S. Bureau of Labor Statistics. This is an abrupt change from the previous three years, in which twice as many women left the workforce as men. The reasons for the change include a strong labor market, “returnship” programs that help women restart their careers, the growth of traditionally female-dominated industries such as healthcare and education, and greater access to male-dominated industries such as manufacturing and construction. (NPR)
- Managers would do well to keep in mind that the tasks they assign are governed not only by the time their contributors have to perform them but also the timing of the assignment itself (Scientific American)
- A study indicates that it is unreasonable to ask managers to solicit and encourage ideas and input from employees when (a) they are not empowered themselves and (b) are asked to focus on short-term outcomes. (Organization Science)
- 61% of new employees have found that their role isn’t consistent with the expectations set out during the interview process, and a recent study suggests that candidates are looking for more transparency when interacting with prospective employers. (Glassdoor)
- A lesson from Eliud Kipchoge, who just shattered the marathon world record: he says that the key to his success is not overextending himself in training. He’s not trying to be great all the time. Instead, he has an unwavering dedication to being good enough. He says that he rarely, if ever, pushes himself past 80 percent of his maximum effort during workouts. This allows him to string together weeks and weeks of consistent training. (Outside)
- Basecamp has just implemented a new minimum wage/starting salary: $70,000 a year. “Calling it “minimum pay” might strike some as odd. It’s well in excess of what’s the “minimum required to live” (at least in most places!), which is a driving force behind the larger debate of equating minimum wage with a livable wage. Instead, we’re choosing to link “minimum pay” not simply with what’s the least we can get away with, but rather as literally just the lowest pay that we offer.” (Basecamp)
Work: When we all come back from the summer, I’ll be taking on a few more coaching clients. To contact me simply reply to this email message.
Music: Last month I talked about my discovery of Scary Pockets and the great funky covers they do. Well, not to be missed is a band called “The Main Squeeze.” I discovered them through their superb cover of Michael Jackson’s “Man in the Mirror.” They are all great musicians and their arrangements are solid.
Finished reading: Breakthrough: What Cabin Crew Can Teach You About Leadership, Teamwork and Customer Contact by my colleague Thomas Gelmi. I will be posting reading notes on my blog.
Started reading: The making of a philosopher by Colin McGinn.
Podcasts: I’m enjoying The West Wing Weekly. It made me realize how much of a West Wing geek I am.
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