Workplace trends

America’s economy is booming

The U.S. economy is currently growing faster than any other advanced economy, with GDP expanding by 11.4% since late 2019. In comparison, Germany, the largest economy in Europe, has only seen GDP growth of a mere 2.3% in the same period. Several factors contribute to this impressive performance by the U.S., including its abundant domestic energy supply that led to a relatively minor impact from the Ukraine war, rapid recovery from the COVID-19 pandemic, and most notably, the country’s faster productivity gains – meaning how efficiently resources are utilized within the economy. Since the 2008-09 financial crisis, US labor productivity has increased by 30%, significantly outpacing growth in both the Eurozone and the UK. Experts say this highlights the U.S. economy’s resilience and adaptability in the face of global challenges.

Belgium is standing behind its sex workers

Belgium has enacted its most comprehensive labor law for sex workers, significantly enhancing their protection against violence and exploitation while providing additional social benefits. Under this new law, sex workers of all genders will have access to labor contracts. These contracts grant them the same rights as other employees, including access to the country’s robust social security system, which includes paid maternity and sick leave, unemployment assistance, and pension contributions. Those who sign contracts can refuse clients without facing repercussions from employers and enjoy protections against unlawful termination and exploitation. While this marks a significant advancement for sex workers, many remain vulnerable and ineligible for these protections due to their lack of legal residency status.

The AI corner

Are people still Google searching?

Between young people increasingly turning to efficient AI platforms for quicker answers and the proliferation of AI-generated content eroding the quality of its search engine, Google is facing complex challenges. This shift is driving users and advertising dollars toward Google’s competitors, with the tech giant’s share of the U.S. search-advertising market projected to dip below 50% for the first time in 2025, according to eMarketer. Meanwhile, Microsoft has gained traction with its Bing search engine by integrating advanced AI features like ChatGPT, and platforms like TikTok are attracting younger audiences with their dynamic content delivery. However, despite the growing competition, experts say that Google’s Gemini is still showing promising signs and that the company’s dominance won’t fade easily, with deeply ingrained user habits continuing to anchor its position in the search market.

AI is giving work meetings a makeover

There has long been a consensus that the majority of work meetings are unproductive. In fact, recent research from the London School of Economics revealed a staggering annual cost of $259 billion in wasted hours across the U.S., averaging $9.6m for organizations with 2,500 employees. However, AI is becoming a transformative solution to meeting inefficiency, with the development of sophisticated tools like natural language processing to detect conversational imbalances and AI transcription that amplifies quieter voices. By providing intelligent summaries, action tracking, and generative follow-up suggestions, workplace experts claim that AI could turn historically frustrating meetings into efficient and inclusive strategic sessions in the not-too-distant future.

Making the most of exit interviews

It’s never easy when a team member quits. But as a leader, the way you approach these challenging moments can directly impact future employee retention.

When someone leaves, it can be a huge burden to fill the talent gap and not let the shift derail your team. And the cost of turnover is significant – ranging from tens of thousands of dollars to as much as twice the employee’s annual salary, according to Gallup. On top of that, a poorly managed exit can also ignite a ripple effect, causing remaining team members to think twice about their own employment with your company. In fact, employees are 9.1% more likely to quit when one of their coworkers quits, according to a study by Visier.

Unfortunately, while reducing turnover is a priority for companies, not enough managers take meaningful steps to understand why a given employee left or what could have been done to retain them. Two-thirds of exit programs are just a formality with no real follow-through, per a study by Harvard Business Review. That’s why it’s so important to recognize the value of exit interviews and to understand that they’re only effective if their feedback improves the experience for current and future employees.

So, how can you transform an employee’s exit into an insightful opportunity that can benefit your team?

Start positive

Remember that people talk. Speaking in icy tones or having curt interactions can make your exiting employees feel negatively about your company or you as a manager – even if they didn’t feel that way already. As a result, they might relay their feelings to your remaining team members or even post bad reviews on employer review sites or social media. A gracefully handled exit, on the other hand, can ensure a lasting impression of respect and gratitude that can strengthen relationships and team sentiments.

So, when an employee hands in their resignation, do your best to respond with appreciation for their efforts and excitement for their next chapter. This approach makes the employee feel valued and reinforces your company’s commitment to maintaining strong relationships, even beyond their tenure.

Encourage honest feedback

One of your biggest goals with exit interviews should be to capture genuine feedback that can be used to improve – and this can only happen when you create an environment where the employee feels safe to share openly. Try to avoid asking yes or no questions, and instead, ask open-ended ones like “What drew you to work here in the first place, and how did the role match your expectations? ” or “How could we have better supported you during your time here?” and even, “What excites you about your new role that was missing in your current position?” It’s also critical to ask follow-up questions that dig deeper into their reasoning. By doing so, you’re showing a true interest in their perspective, and they’ll be more likely to suggest solutions that can help your team in the future.

Focus on learning, not blame

Even if your team members appreciated you as a leader, some comments about your management style may still come up during an exit interview. So do your best not to get defensive and instead respond with curiosity. If your employee happens to comment on a time when you disappointed them, dig deeper to understand why they felt that way. This doesn’t mean you have to agree with their assessment or apologize, although in some cases that might be appropriate. The point is to understand how your actions may have been perceived. And from there, you can either work on improving in that area or adjust your approach for a better outcome with your remaining team members going forward.

Inquire about team dynamics

Your employees may have even more insights into team dynamics than you. So when a team member leaves your company, gaining their feedback on group sentiment and tensions can be really helpful in strengthening your team. Consider asking them if they see any opportunities to improve collaboration or are aware of any team members who might require some additional attention and support. Keeping these questions open-ended invites them to expound, giving you the chance to gain some valuable takeaways about the inner workings of your team and identify improvement opportunities.

Leave the door open

The exit interview shouldn’t be the last interaction you have with the employee because it can potentially end things on a less personal note. On their last day, consider calling them or popping by their workspace to express your appreciation, encourage them to keep in touch, and tell them you hope your paths cross again. This sends a message to the exiting employee and your current team members that your support is genuine. Plus, doing so could lead to more opportunities down the road – whether it’s rehiring them or working together in another capacity. You never know where, how, or when these same people will re-emerge in your life and career.

Water cooler chatter

Australia has approved a social media ban for children under 16. The move sets the strictest age restriction globally, with no exceptions for existing users or parental consent. The policy has critics questioning its enforceability and potential consequences such as the impact on privacy and social connections.

Moana 2,” “Wicked” and “Gladiator II” made 2024 a record-breaking Thanksgiving. The trio of blockbusters propelled US box office receipts to an unprecedented $420 million between the last Wednesday and Sunday on November, shattering previous holiday records. The surge in theatre attendance marks a significant turnaround for the cinema industry, which has struggled with declining viewership since the pandemic.

Question of the week

Last week’s answer: 30 days

This week’s question: What is the optimal temperature range for workplace productivity?

Just for laughs