Workplace trends
These days, U.S. workers aren’t as happy
Worker happiness levels seem to be dropping at record rates, according to a new analysis from BambooHR. In fact, the study revealed that employee happiness had been steadily declining by 6% from the start of 2020 through the present, but that 2023 alone has seen the rate decline 10 times faster than the previous three years. Experts attribute the current low happiness levels to the pandemic’s lingering impact and its economic effects that continue to disrupt employees’ lives, with around 65 million people suffering from long COVID symptoms, and 61% of Americans living paycheck-to-paycheck. Of the eight industry categories monitored by BambooHR, health care and education professionals have seen the steepest rates of decline.
Workers are tired of after-work schmoozing
While getting ahead once required a major investment in building connections outside the office setting, these days, even the go-getters are saying no to after-hour socializing opportunities. Many workers are actively trying to draw thicker lines between their work and personal lives, which often means clocking out as soon as the workday ends and avoiding invites to post-work events with colleagues. In fact, corporate event planners say they’re already facing pushback for fall activities and weekend work-related functions, and U.S. restaurants have seen a 43% drop in dinners after work compared to 2019 levels, according to Circana. Some experts suggest that when it comes to team socializing events in the post-pandemic world, holding them during work-hours is the only sure way to guarantee attendees.
The AI corner
Is AI really making companies greener?
Businesses are increasingly turning to AI to tackle climate change concerns, from making systems more efficient and creating fewer vapor trails to offering more eco-friendly services. Unfortunately, for many, the energy required to train and run AI’s large-language models is so significant, at times it winds up doubling total emissions. For example, manufacturing a piece of hardware that speeds up computations in deep learning involves vast amounts of pure water and rare metals, and ChatGPT-3 requires the equivalent of a 500-milliliter bottle of water for every basic conversation of 20 to 50 inquiries. So, as companies pursue ambitious net-zero targets, finding a neutral – if not positive – net climate impact will require a serious balancing act.
Things may be looking up for tech stocks
After a nearly two-year drought in the IPO market, last week UK-based AI chip designer Arm made a successful Nasdaq debut, finishing the day 25% higher with a $65 billion market cap – marking the largest public offering since 2021. While the company’s name is not widely known, many people use its products on a daily basis; Apple, Samsung, Nvidia, and Google utilize its designs and instructions to create their chips, which are essential in the production of smartphones, laptops, video games, televisions, and GPS units. While dealmaking has sunk to its lowest levels in over a decade amid recessionary fears and high interest rates, experts are hopeful that Arm’s success could launch a wave of new tech IPOs, which would provide a positive sentiment for the overall stock market.
Setting the right boundaries for your team
By monday.com
More than half of today’s managers report feeling burned out at work, according to Microsoft’s most recent Work Trend Index. Between high workloads and more limited resources, managers have the added responsibility of ensuring team members get the support, feedback, and guidance needed to succeed on top of getting their own work done effectively.
At times, when you manage a team, it can feel like there’s simply no right answer – if you take on too much of the work yourself, you risk burnout and set a poor standard for your team members. On the other hand, if you delegate too much of the responsibility, you risk overloading your employees and driving them to their limits.
So, how can you get key work to the finish line while modeling healthy work behavior?
Make time for focus
As a manager, you’re likely overseeing multiple projects and initiatives at once, so it’s important that you plan out your time and demonstrate a balance that allows you to maintain healthy work-life boundaries. One of the best ways to do this is by blocking out a few hours in your calendar each week for focused work to ensure you always have designated time to get things done. This sets a great example for your team members and ensures your days don’t become overly consumed by meetings to the point that you can’t get everything finished within the workday. You can even take this a step further and create team-wide focus hours or no meeting days for everyone to have scheduled time to get their execution work done.
Prioritize workloads
When there’s so much going on at once, most of us wind up with multiple projects on our plates. And while they are all likely important to some degree, there’s no doubt that some tasks are simply more urgent and heavy than others. So, try to schedule brief weekly or bi-weekly syncs with the whole team to align group priorities and ensure everyone is on the same page about each others’ workloads and capacities. At times, this may result in disappointing realizations that the more fun or exciting project will need to be put on hold. However, this step is essential to ensuring the most pressing initiatives are prioritized, the team is in fact working together to produce results, and no one feels pressure to get every single thing done all at once.
Don’t send messages after hours
In an ideal world, we’d all finish our work the moment the workday ends, but there are times, especially as a manager, when that’s simply not the case. It’s easier said than done, but if you find yourself working on something well-after you’ve technically clocked out, try to push yourself to take a step back and leave it to the next morning – unless it’s absolutely urgent. This is important to demonstrating what it means to maintain healthy work-life boundaries.
If waiting until the next morning is just not an option, do your best to avoid contacting your direct reports and looping them in during non-work hours because they will likely feel pressure to respond, which can lead to greater risk of work-related stress and employee absence in the long run. A great practice is scheduling your messages to deliver at the start of the following workday to ensure your team members get the memo as soon as they clock in.
Take time off when you need it
When you manage a team, you set the tone for what’s considered acceptable in terms of taking time off and taking breaks during the day. If you’ve never used a vacation day or are glued to your computer screen, your team members will feel pressure to follow your lead, which can result in stress, burnout, and eventual turnover. So, first and foremost, take care of yourself. Research shows that taking breaks from work during the day relieves stress and increases focus when employees return to work, thus improving their productivity, per a Tork study. That’s why it’s important to model healthy work behavior by getting up, stretching your legs, taking a coffee break, and stepping away from your work here and there over the course of the day.
And, when you need a more extended period of time to rest and recharge, take it! Go on vacation or take some days to relax at home in which you fully disconnect from work and allow your mind and body to refuel in order to prioritize your wellbeing and show your employees that doing so is accepted. A great practice is to give a trusted member of the team your personal phone number so that they can determine if something needs to escalate to you while you’re away, and you won’t have to constantly check work messages.
Encourage boundary-setting
While it’s not easy to say no to a colleague when they request your help, it’s important to accept that sometimes you simply won’t have the bandwidth to take on an extra project or get it done within the requested time frame. Model boundary-setting and help your team members understand that they shouldn’t take on additional requests if it means sacrificing the quality of their work priorities. And remember that we create deadlines, so if roadblocks arise that would require you or your team to drown in work in order to get it done in time, do your best to either shift priorities or push off the due date. Show your team that it’s better to adjust timelines or workloads when needed than drive ourselves to burnout.
Water cooler chatter
The State of California is suing oil companies like Exxon Mobil, Shell, BP, and others, for allegedly misleading the public about the dangers of fossil fuels. In the last few years, California has dealt with record heat, wildfires, severe rain and snow, and rising sea levels that have threatened the state’s shorelines. The lawsuit seeks funding for recovery efforts related to these extreme-weather-related disasters.
TikTok has been hit with a $368 million fine under Europe’s strict data privacy rules. Ireland’s Data Protection Commission, the lead privacy regulator for Big Tech companies, said it was fining and reprimanding the platform for violations dating to the second half of 2020.
Question of the week
Last week’s answer: 4
This week’s question: What are the two most educated countries?
Just for laughs
