Workplace trends

Ivy League degrees may lock you out of your dream job

Leading American universities like Harvard, Yale, and Princeton used to give job applicants a significant advantage, but numerous factors have made these top-tier schools less appealing to employers. Many businesses now question whether students at these institutions genuinely earned their spots. Skepticism was amplified by a recent Supreme Court case, which revealed that 43% of accepted white applicants at Harvard were either recruited athletes or had connections through alumni or faculty.

In other instances, protests on campuses have turned employers away. For example, 13 federal judges signed a letter in May stating they would not hire clerks from Columbia Law School due to the school’s handling of protests. Additionally, several law firms and financial institutions have committed to checking whether applicants participated in hostile protests on campus. Experts say this shift in attitude suggests that Ivy League degrees may no longer guarantee the same opportunities they once did.

Beijing’s financial hub is leaving the West behind

As international institutions, corporations, and expatriates continue to retreat from China, Hong Kong’s financial sector has become increasingly Chinese-centric. Foreign banks now only play a role in one-fifth of Hong Kong’s IPOs, down from roughly half just two years ago, per the Wall Street Journal. Furthermore, private bankers have shifted their focus to first-generation Chinese millionaires rather than expatriates, and corporate recruiters now demand conversational Mandarin as a prerequisite for employment. As a result, some Western financial institutions are pivoting towards wealth management over investment banking in China, while others are exploring new markets in India and the Middle East. Additionally, experts say Trump’s proposal to impose a 60% or higher tariff on Chinese goods may exacerbate the already strained US-China relationship.

The AI corner

AI, the poet?

Non-expert readers cannot distinguish between poems written by renowned poets and those generated by ChatGPT-3.5 imitating their styles, according to a recent study published in Scientific Reports. Participants exposed to poems by Shakespeare, Dickinson, Plath, and Eliot actually preferred the AI-generated verses, rating them as more inspiring, meaningful, and profound than their human-written counterparts. However, some experts theorize that AI-generated poems were only favored by non-expert readers due to their simplicity and accessibility, not their creative flare. Regardless, the study raises interesting questions about the nature of creativity amidst the evolving relationship between human expression and artificial intelligence in the literary world.

VC firms are investing heavily in AI, but profits are at a historic low

Venture capital firms are having no problem finding high-potential AI startups to back, but when it comes to cashing out, things aren’t looking as rosy. In 2023, venture firms in the US only returned $26 billion worth of shares to their investors, marking a record low since 2011, according to Pitchbook. This stark contrast is further highlighted by the record $60 billion deficit between investments and collections in the same year. 2024 has continued this trend, with a high volume of investments, but few acquisitions or IPOs to monetize value. And AI companies, which are burning through cash, are only amplifying this concerning pattern. All this said, investors remain optimistic about potential changes under Trump’s presidency as they anticipate more business-friendly regulations that could stimulate dealmaking.

Enforcing gratitude on your team

Thanksgiving is just a couple days away, inspiring this week’s newsletter that’s focused on gratitude. Whether you celebrate the holiday or not, it’s a helpful opportunity to recognize that giving thanks enriches human connections and creates a cycle of goodwill and generosity, according to research by UC Berkley. And in the workplace, this same kind of appreciation can be instrumental in motivating your team and enhancing performance.

Despite how it might sound, gratitude isn’t just a feel-good emotion – it’s a powerful driver of engagement. In fact, 80% of employees say they’d work harder for a boss who regularly shows appreciation, per a recent Glassdoor survey, emphasizing a solid business case for managers to prioritize gratitude in their leadership practices.

That said, giving thanks shouldn’t just come from you as the manager or be reserved for special occasions. Employees are 36% more likely to positively contribute to financial results when they receive peer-to-peer recognition, according to the Society for Human Resource Management. So reaping the true benefits of gratitude – from higher morale to deeper trust and greater collaboration – happens when you effectively incorporate thanks into your team culture.

With this in mind, how can you embed gratitude into your management style and team interactions?

Start a habit

Gratitude has been shown to reduce envy and build resilience, per a report by Positive Psychology, highlighting just how beneficial appreciation can be in nurturing positive team dynamics. Like all meaningful initiatives, working gratitude into your regular interactions must be intentional, so consider baking it into your team meetings. Perhaps when you plan your upcoming priorities, you can devote a few minutes to recognizing team members who have done exceptional work recently.

You also might try taking it further by giving your team members opportunities to appreciate one another publicly! Perhaps this means allocating time at the end of larger group meetings or launching a dedicated chat channel for teammates to express gratitude for their coworkers. Efforts like these can inspire impromptu appreciation and create a consistent warm feeling among your team members.

Personalize your appreciation

74% of employees who receive regular recognition strongly agree that their work is valuable and useful, as outlined by a Gallup study, and gratitude lands best when it’s specific and meaningful. Generic “good job” messages can fall flat, but tailored praise shows you truly see and appreciate your team’s efforts. So instead of saying, “Thanks for your hard work,” try something more personal like, “I really appreciate how you navigated that tricky client situation – it showed incredible patience and creativity.” Use one-on-ones to make personalized and authentic gratitude a regular practice to build your team members’ confidence and sense of value.

Celebrate smaller milestones

Some of your direct reports may be working on projects that take several months to complete, so don’t wait until the end to express appreciation. It turns out that increasing recognition from quarterly to monthly actually boosts engagement and productivity by 40%, according to Achievers Workforce Institute’s 2024 State of Recognition Report. So on long-term projects, celebrate incremental progress to keep your team motivated and excited. For example, express gratitude when a team member steps up to lead a meeting despite an unclear brief or successfully collaborates with a challenging stakeholder. These moments might seem minor, but they’re often the glue that holds complex work together.

Be intentional

Working gratitude into your everyday communication is definitely important for creating continuous engagement, but there are times when a more thoughtful gesture of appreciation can go a long way. For example, if your team just finished a grueling project or responded to a corporate restructuring with resilience, you might want to consider taking your recognition a step further. Perhaps this means sending them a thoughtful handwritten note, taking them out for celebratory drinks on the company, or giving them all a day off to relax and recharge. This shows your team members that you truly appreciate them as people, not just executors, which can drive their motivation to achieve even more going forward.

Loop in leadership

Showing gratitude for your team in front of the executive team can have a huge impact given that they may not typically get that kind of face time. So when presenting on a certain initiative, be sure to call out the people working on it by name and briefly mention your thanks for a specific area they are excelling in with that project. And when one of your team members really took the lead to drive a massive achievement, consider letting them lead the presentation themselves. These acts send a clear message to your team that you are not only grateful for them, but that you are actively taking your appreciation to the top.

Water cooler chatter

Malcolm X’s daughters are suing the CIA, FBI, and NYPD for their father’s death. After decades of questions swirling around the assassination of the civil rights leader, the lawsuit now directly implicates these agencies, accusing them of both knowledge and involvement in the plot to kill Malcolm X.

Alaska’s northernmost town is going to be in darkness for 64 days. The town, Utqiagvik, has a population of a mere 5,000 and is located 330 miles north of the Arctic Ocean, resulting in the sun not rising above the horizon on a single day from November 18, 2024, until January 22, 2025.

Question of the week

Last week’s answer: 12.5

This week’s question: What is the age of the average US worker?

Just for laughs