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Survey: Workplace rivalries are on the rise
Terri Williams Business Management, Services & Risk ManagementThe pandemic has created separation among work teams, but it has also created an increased level of competitiveness as well. According to a new report by global staffing firm Robert Half, 28% of professionals in the U.S. say that workplace rivalries have increased compared to a year ago. Younger workers were more likely than older workers to say that workplace rivalries have increased, and men were more likely than women to report a rise in competition levels.
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A look at the benefits of getting an MBA
Amanda Kowalski Business Management, Services & Risk ManagementIn business, sometimes it’s hard to stand out from the crowd. You work hard, but so do a lot of your co-workers — and they are looking to get ahead just like you are. Maybe an extra degree will push you over the top for that promotion. According to U.S. News & World Report, the National Association of Colleges and Employers say that the average starting salary for Master of Business Administration (MBA) graduates is $79,043, more than $20,000 higher than those graduating with a bachelor’s degree in business. And it’s not just the first year that salaries are higher for MBA grads. The returns multiply over time like any good investment.
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Plan for 2021 looking on the bright side
Lloyd Princeton Business Management, Services & Risk ManagementMostly sunny with intermittent clouds and showers. That’s my forecast for 2021. It may seem overly optimistic at the moment, what with talk of more shutdowns in the weeks ahead and the standoff in Washington. I am confident, however, that this too shall pass, the ship will get righted, and we will enter calmer waters as the new year gets underway. Having gone through so many months of uncertainty and reversals this year, why should I expect the situation will improve in the next? Despite the recent resurgence of COVID-19 cases in many countries, we are making progress on preventing and treating the virus as well as on producing an effective and safe vaccine.
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How to reconstitute the strategic plan
Robert C. Harris Association ManagementMy mom used to make chicken broth from little cubes sold in a jar. The directions said to reconstitute by adding water and heating. Reconstituting is a process; to build up again from parts, to reconstruct. You can apply the concept to a strategic plan. It means to take an existing strategic plan and, from its parts, reconstitute it to maximize awareness and value. There are many ways to reconstitute the strategic plan.
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Payroll continuity plan: What employers need to know
Grace Ferguson Business Management, Services & Risk ManagementDisasters come in many forms. There’s fire, storm, tornado, flood, earthquake, pandemic, terrorist attack, cybercrime — just to name a few. When they strike, it’s important for employers to have a payroll continuity plan in place. A payroll continuity (or contingency) plan is a documented strategy for achieving your payroll objectives when natural or man-made disasters occur. The plan outlines feasible measures for managing payroll through the disruption.
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US employers explore overhauls to employee benefits to preserve jobs, budgets
Terri Williams Business Management, Services & Risk ManagementCOVID-19 has led to the loss of over 1 million lives worldwide (over 245,000 in the U.S. alone). It has also decimated economies and led to global upheaval. For U.S. employers trying to stay afloat, balancing business continuity, safety, and compliance — while attracting and retaining employees — is challenging at best. Gallagher’s 2020 Benefits Strategy & Benchmarking Survey Report reveals how the pandemic is affecting hiring, employee benefits, and compensation.
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How the ‘rusty trustee’ can help your board
Robert C. Harris Association ManagementNew directors may think, "I won't say anything for six months, until I learn the ropes." This is a poor approach to governance and the responsibilities of directors. There are methods to help new board members. They must learn the fundamentals of governance mixed with the culture and principles associated with board service. It is the culture that can be hard to communicate. A unique idea is the appointment of an experienced leader to coach the board and new directors. The concept can be traced to the Kentucky Optometric Association, referring to the seat informally as the "rusty trustee."
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Changing suppliers: When it’s time to cut the ties
Anne Rose Business Management, Services & Risk ManagementAfter some time in business, you’ve likely developed strong relationships with a certain set of suppliers. You know what they can do for you and when, you know their policies and procedures, and you’re comfortable that your goals and values are congruent. All well and good, but unless you periodically analyze the status of your relationships, it’s too easy to fall into complacency and make assumptions that are no longer valid. Then you risk misplaced loyalty. So, here are signs that it is time to critically assess your loyalty to long-standing suppliers, perhaps cut those ties, and look afield for new suppliers.
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What is game theory, and why should it matter to your business?
Victoria Fann Business Management, Services & Risk ManagementBenjamin Franklin once said, "Games lubricate the body and mind." Maybe it’s time to start seeing business as a game; at least that’s what game theorists might suggest. Developed by mathematician John von Neumann in 1928, game theory, which could loosely be defined as the study of strategic decision-making, was originally associated with a branch of applied mathematics. Now, however, it has expanded to many other areas of study. So, how is it connected with business?
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A swag bag for the chief elected officer
Robert C. Harris Association ManagementAfter installing the chief elected officer, he or she receives a leadership manual and a briefing. They are somewhat “on their own” to establish their governance style. To encourage and guide the elected president, make up a swag bag. A swag bag is an assortment of items that complement an event or experience. In this example, the executive director is gathering the items that will enhance understanding and support good governance. Here’s what’s in the president’s swag bag.
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