Canada is trying to lure H1-B visa holders away from the U.S.
Canada is offering open work permits to U.S.-based immigrants on H-1B visas in an effort to attract highly-educated international students and professionals who are frustrated by the U.S. immigration process. The annual American H-1B lottery is becoming increasingly competitive, with only around 10% of applications granted a visa this year. This new Canadian recruitment strategy targets tech workers who may have been affected by layoffs and are currently out of work in the U.S., placing them at risk of losing their immigration status. Canada will allow H-1B visa holders to move in without a job and look for one once they arrive. While this is an appealing last resort for struggling tech workers, the salaries they can receive in Canada pale in comparison to the U.S., per the Wall Street Journal, which is why many making the move see it as temporary.
Remote and hybrid workplaces are hiring twice as fast
Many organizations across industries have been pushing for more in-office attendance, but according to recent research by Scoop, companies that allow employees to work hybrid or remotely appear to be hiring people at about twice the rate of employers that are in person five days a week. While experts initially assumed that fast-growing flexible tech start-ups could be driving the gap, the data revealed that among all non-tech companies in the sample, organizations that have remote or hybrid set-ups grew headcount faster than full-time in-office firms across company sizes. While headcount is not a clear proxy of which companies are doing well, experts suggest that economic growth tends to follow where the heads are getting added, so flexible companies may currently have the upper hand.
The AI corner
Stock prices are reaching record highs thanks to AI
Several tech companies are experiencing record-setting stock prices in the wake of major AI developments and investments. Microsoft’s share price reached the highest value it has ever traded at and pushed its market cap to $2.67 trillion following the company’s reveal of Microsoft 365 Copilot, an AI-powered version of the popular productivity platform. Similarly, Nvidia, which produces chips used to power AI systems, also reached an all-time high last week when it closed up more than 2% within less than two months of it surging past a $1 trillion market cap. As companies continue to invest in artificial intelligence, experts expect these record highs to continue.
Writers want to be compensated for their role in AI training
In an open letter to the CEOs of OpenAI, IBM, Stability AI, and other tech companies, more than 8,000 authors have called for an end to the practice of using copyrighted works to train AI systems without the consent or compensation of the authors. The letter, which was published by the Author’s Guild, argues that AI systems mimic and regurgitate the language, stories, writing styles, and ideas of authors through the millions of copyrighted books, articles, essays, and poetry that provide the “food” for these AI systems. The Authors Guild cites a 40% decline in income for authors over the last decade and argues that AI threatens the profession by saturating the market with AI-generated content. The authors argue that it’s only fair that they be compensated for the use of their work, and that without it, AI would be banal and extremely limited.
The lonely struggles of being a manager
It’s said that “the view from the top is a lonely one,” and when you manage a team, there are times when this statement especially resonates. As a manager, it’s your responsibility to keep your employees engaged and productive, while also making sure they feel supported and happy. Your job is to help your team members maximize their potential and perform at their best, which often means putting on a brave face and constantly modeling effective work behavior.
You may have great relationships with your employees, but at the end of the day, you hold the power and it’s not a regular friendship. You can’t complain to them about leadership or your compensation, and you certainly can’t talk badly about a direct report who’s giving you a hard time. There’s an undeniable need to set and maintain boundaries and keep things professional enough that your employees really respect you and recognize your authority.
And at the same time, your own boss can’t play the role of your work bestie either because they need to maintain those same professional boundaries with you. Similarly, there’s also an undeniable pressure to prove that you’re capable and in control, which may make it hard for you to share all of the emotional weight you’re feeling with your direct manager. Of course you can go to them with relevant grievances and concerns, but at the end of the day, they’re not sharing the same day-to-day challenges and frustrations and you need to maintain certain boundaries.
Bottom line? Despite how rewarding and empowering it is, being a manager can be lonely.
So, what can you do to feel more connected and understood at work?
Be honest with yourself
From managing remote and dispersed workers to navigating return to office struggles to keeping your head up amid difficult employee layoffs, it’s been an emotionally exhausting time to be a leader. So, first and foremost, cut yourself some slack. On the days where work feels a bit lonely or it seems like no one understands what you’re navigating, allow yourself to feel whatever it is that you’re feeling. Have self-compassion and give yourself the same support you’d give to a team member on a tough day. As long as you’re bringing your best self to work and doing what you can to support and empower your employees, you’re doing it right. So, take a breath and recognize that having these feelings from time to time doesn’t mean you’re any less qualified or effective at your job – it simply means you’re human.
Connect with others at your company
While you have to set boundaries with your own team members, there are likely other people within your organization with whom you work and could potentially develop real friendships. In particular, other managers or more senior independent contributors can often really relate to and understand your experiences at work. Of course, it takes time to build relationships, but do your best to get to know your colleagues on a more personal level and open up a bit more. Start one on one meetings with questions like “how are you?” and “how was your weekend?” to really leave room for friendly discussion. You’d be amazed at how much your honesty can lead others to share with you too, which can make a world of difference in your sense of belonging and connectedness at work. Additionally, if you’re interested in getting to know other people in your organization beyond those with whom you directly work, make an active effort to attend company events and join relevant employee resource groups (ERGs) if available.
Seek out mentors
75% of executives say mentoring has been critical to their career development, according to a survey by the American Society for Training and Development. In addition to providing day-to-day guidance and giving you something to aspire towards, mentors can have a profound impact on the way you experience work. From offering emotional support to helping you clarify career goals, having a mentor in your career can drastically influence where you go and how you get there.
When you’re having a hard time at work and there’s someone to turn to who can say, “listen, I get it. I’ve been there many times, and you’re going to be okay,” it instantly makes you feel less alone and more sure that you can overcome whatever it is that you’re facing. So, try to find mentors – within your organization or in the wider industry – who can support you and help you grow. If you’re lucky, that person will be your direct manager, and they will really go out of their way to help you succeed. Otherwise, chat with friends, family, and colleagues to see if they know of any excellent leaders, try attending industry events or joining professional organizations, and even be bold by reaching out to people whom you already admire. Regardless of how you get there, do your best to find yourself people who can help you navigate the challenging, meaningful, and often overwhelming world of work.
Take care of yourself
While work is important, make sure you feel connected and supported outside the office, too. If you’re going through an overwhelming, lonely, or simply exhausting period, take time for yourself. Set boundaries and make space to effectively disconnect and recharge. This actually sets a great example for your team members about the importance of a healthy work-life balance and it ensures that you yourself get the recovery you need to avoid burnout. It’s amazing how much a relaxing day off, having dinner with a loved one, or even spending quality time with your pet can somehow make everything a little better.
Water cooler chatter
Average ticket prices for Inter Miami’s matches have soared ~500% in the month since Lionel Messi, Argentine soccer phenom, signed with the team. The average ticket price to Inter Miami home matches in the upcoming season increased by 459% from $152 to $850 and tickets to the team’s next seven matches on the road skyrocketed 558%, according to data from TicketiQ.
A severe and prolonged heat wave in Southern Europe is setting some record-high temperatures. Temperatures topped 104°F/40°F in parts of Spain, France, Italy, Greece and Bosnia. Rome reached an all-time high and Sicily reached at least 115°F/46°C, which is just shy of the European record.
Question of the week
Last week’s answer: Walmart
This week’s question: How much is the global beauty industry worth?