SUCCESS
How Lost Productivity During The Total Solar Eclipse Is Actually A Win For Employers
Special events, like the World Cup and March Madness, can be productivity killers and inflate absenteeism, and a rare astronomical occasion is no different.
A total solar eclipse, which was anticipated to be the “most-viewed astronomical event in American history,” concluded its path across the United States on Monday, moving through Texas, Oklahoma, Arkansas, Missouri, Illinois, Kentucky, Indiana, Ohio, Pennsylvania, New York, Vermont, New Hampshire, Maine and parts of Tennessee and Michigan, in addition to Mexico and Canada.
NASA estimated 31.6 million people reside within this path, with an additional 150 million people living within 200 miles of the path. A model from the Great American Eclipse estimated between 1 million to 4 million people would travel to the path of totality.
“When you combine the populations of Mexico, USA and Canada that live inside the path of totality, and add all of those who will travel on eclipse day, a total of 50 million North Americans witnessing totality is possible,” said Michael Zeiler, eclipse cartographer and cofounder of Great American Eclipse, in a statement.
“It’s like having 50 Super Bowls happening at the same time all across the country,” Polly White, Great American Eclipse cofounder, added.
Fighting Back Against The Fear Of Failure At Work
Fear can be debilitating, leading to paralysis and preventing people from taking the necessary risks to pursue career opportunities. This inaction becomes a barrier to growth and advancement in your job. If you allow fear to take over, it’s likely that you’ll make poor decisions, due to the anxiety, which can cause ripple effects in your career.
Being afraid will make you doubt your own decisions, which erodes your self-confidence. Your insecurities will be felt by others around you, and you’ll be viewed as someone who is not capable of doing your job and won’t be considered for promotions. It would be likely that you’ll be a target if and when layoffs are enacted. When you are scared to share ideas, take on new assignments and meet with senior executives or clients, you will seek safety in staying where you are and not rock the boat. Your avoidance of taking chances and risks will inhibit the ability to attain career progression.
Overcoming fear, building resilience and developing a mindset of courage allows individuals to fully commit, embrace risks and unleash their full potential. By managing your fear productively, you have a greater chance at long-term career growth and satisfaction.
“Fear-setting” is a concept coined by entrepreneur and author Tim Ferriss. The mindset focuses on thinking about the worst-case scenario that can happen if you take action toward your goals. Ferriss suggests you should define your fears and consider what is getting in the way of attaining your goals and dreams of career success, from asking for a promotion or starting a company. This process helps you to confront your fears head-on and develop a plan to overcome them, rather than letting them hold you back.
The key to fighting back against fears of failure is to acknowledge and understand what you are afraid of. Identify the specific hang-ups that are preventing you from going after your dreams, whether it’s fear of failure, judgment or the unknown. Start by creating a plan to mitigate your worst fears, then embark on the journey of obtaining your desired goals. Despite the odds, challenges, obstacles and setbacks, you must keep trudging forward.
4 Takeaways From Jamie Dimon's Annual Letter
Jamie Dimon, the CEO of JPMorgan Chase, issued a sober economic forecast in his annual shareholder letter on Monday, warning that high inflation may prove more stubborn than expected, triggering rate hikes at the Federal Reserve and an eventual recession.
The billionaire financier also offered up a sweeping assessment of artificial intelligence and waded into an ongoing controversy over diversity, equity and inclusion.
Here are four takeaways from Dimon's annual shareholder letter:
1. Sticky inflation
Dimon acknowledged strong economic performance of late but cautioned of long-term trends that could undermine the gains. He raised special alarm about the economy's top threat: inflation.
A host of factors, including government spending and global trading shocks, could make the final leg of inflation's path down to normal levels much more difficult than many observers expect, Dimon said.
Other trends keeping inflation higher, he added: ascendant military conflict and the loans required for the transition to a climate-friendly economy.
The risks posed by ongoing inflation imperil efforts to achieve a "soft landing," in which inflation returns to normal levels while the economy averts a recession, Dimon said.
"These markets seem to be pricing in at a 70% to 80% chance of a soft landing," he added. "I believe the odds are a lot lower than that."
2. Interest rates could soar
In response to potentially stubborn inflation, interest rates could soar past 8%, Dimon said.
Rate hikes would increase borrowing costs for consumers and businesses, potentially slowing economic activity through weaker household spending and company investment.
The ensuing economic stagnation could push the U.S. into a recession, Dimon warned.
3. Artificial intelligence could end up being as significant as the printing press
Dimon, who said JPMorgan Chase uses artificial intelligence in about 400 different ways, touted the technology as a breakthrough on the scale of some of humanity's most influential inventions.
"While we do not know the full effect or the precise rate at which AI will change our business -- or how it will affect society at large -- we are completely convinced the consequences will be extraordinary and possibly as transformational as some of the major technological inventions of the past several hundred years: Think the printing press, the steam engine, electricity, computing and the Internet, among others," Dimon said.
4. Support for diversity, equity and inclusion
Diversity, equity and inclusion programs have become a lightning rod, stoking controversy in state capitals and corporate boardrooms.
In a section of the letter, Dimon advocated for the importance of DEI, outlining several initiatives at the bank aimed at supporting employees and customers who belong to marginalized groups.
Content Creation Holds Appeal For Laid-Off Workers Seeking Flexibility
By all accounts, the U.S. job market is holding strong, with employers adding 303,000 workers to their payrolls in March. The jobless rate has now remained below 4% for 26 straight months, the longest such streak since the 1960s.
But that’s of little comfort to the thousands of people who have nonetheless found themselves out of work. Hiring has largely been concentrated to a few industries, while tech and finance have only added a small number of jobs in the last 12 months.
Rather than trying to return to traditional employment, people are carving a new path for themselves through online content creation, where they can make money from brand deals and advertising by producing social media videos ranging from educational to entertaining.
In an estimated $250 billion industry, 4% of global content creators pull in more than $100,000 annually, according to Goldman Sachs Research. YouTube — considered by creators to be one of the more lucrative platforms — has more than 3 million channels in its YouTube Partner Program, which is how creators earn money. A spokesperson said the platform paid out more than $70 billion in the last three years.
Meanwhile, TikTok — which faces the threat of a national ban that could cost many creators an income stream — has seen a 15% growth in user monetization, according to a company spokesperson.
Citigroup CEO Faces Growth Challenge As Overhaul Rattles Employees
Citigroup opens new tab investors have rewarded CEO Jane Fraser with a share price boost after Fraser announced a sweeping overhaul of Citi’s sprawling structure in September, cutting costs by laying off 5,000 employees. Next, they want to see growth in wealth management and investment banking.
Wall Street investors have welcomed Fraser's overhaul, but warned the CEO has major challenges ahead to boost returns and catch up with rivals, including regulatory problems, lackluster earnings and an unsettled workforce.
The company's turnaround efforts have caused internal turmoil. Workers avoided signing up to long-term projects during the six-month reorganization because they were unsure if they would be laid off, said a source who declined to be identified discussing personnel matters.
How To Get A Job In Tough Times: All The Advice You Need To Succeed From A Top Executive Recruiter
There’s an old saying, “Tough times make tough people.” In this book, Jack Kelly will help guide you every step of the way in your job search to ensure that you stay strong, resilient and positive, and get that great, new job.
