Workplace trends

Western governments & businesses are no match for Chinese espionage

Last month, a Chinese state-linked firm hacked 260,000 internet-connected devices across the US, Britain, France, and Romania, highlighting the West’s struggle to contain Beijing’s escalating espionage activities. China-backed hackers outnumber FBI cyber personnel at least 50 to 1, according to the US agency, leaving Western nations ill-equipped to handle the hacking onslaught. Complicating matters, many countries’ and corporations’ economic reliance on China makes imposing sanctions a risky business decision. As global competition for market share and technological dominance intensifies, Chinese spying operations are becoming increasingly brazen. This is forcing Western businesses and democracies to face the delicate challenge of maintaining profitable ties while protecting their intellectual property and data from Beijing’s aggressive intelligence gathering.

Portugal is making bold moves to win back their youth

In today’s global labor market, many European countries are experiencing a brain drain as their youngest and most educated citizens emigrate for better opportunities. Portugal, one of the hardest-hit nations, saw an estimated 361,000 people aged 15-35 leave between 2008 and 2023. Now, the country is taking bold action with an innovative budget proposal aimed at transforming Portugal into a low-tax haven for young adults. The plan includes offering a decade of tax breaks to those starting their careers, with individuals aged 35 and under who earn up to $30,632 paying no income tax for the first year. If Portugal’s proposal passes through parliament and proves successful, experts expect other European countries facing similar challenges to also implement more aggressive measures to retain their young talent.

The AI corner

The Nobel Prize for AI pioneers comes with a warning

Last week, the 2023 Nobel Prize in Physics was awarded to John Hopfield and Geoffrey Hinton for their groundbreaking work in AI. The recognition underscores AI’s fundamental role in modern research and gives credit to the technology’s unparalleled data processing capabilities and speed. Hopfield and Hinton are considered pivotal in AI’s evolution, and their work in machine learning techniques from the 1980s is still used today. The prize, which includes a $1 million award, not only honors their contributions but also amplifies their platform to voice their concerns about the technology they helped create. As some of the most critical voices in the field, with Hinton specifically cautioning about the potential for AI to surpass human intelligence, their AI warnings carry significant weight in ongoing discussions about its responsible development and use.

AI deals continue to surge amidst venture market decline

AI deals have surged from 13% of deal value in Q3 2022 to an astounding 31% today, according to CB Insights. This rapid growth dwarfs fintech’s 2021 peak of 20% and crypto’s all-time high of 6%, as reported by Crunchbase. In general, the AI funding boom stands in stark contrast to the broader venture market: overall funding in Q3 plummeted 20% quarter-over-quarter and 21% year-over-year, CB Insights notes. Experts say this dramatic divergence between AI’s meteoric rise and the broader market’s decline eerily echoes the dot-com boom of the late 1990s, hinting at a potential bubble that could reshape the tech landscape and trigger a market correction in the near future.

Creating a non-managerial growth path

Management has long been seen as the natural progression for every top employee’s career path. But not all high-performers are meant to be managers. While your employee could be stellar at performing their job, they may not be great at leading others in the same area. And some with managerial potential simply might not want to choose that direction for their careers. In fact, 36% of tech workers aren’t interested in taking on a managerial position, according to a survey by CoderPad, and 72% of GenZ’ers prefer to grow as Independent Contributors (ICs), according to recruitment firm Robert Walters.

The choice to take a non-managerial path doesn’t necessarily indicate a lack of ambition, but rather a desire to become experts in a given domain without the responsibility of overseeing others. With 70% of executives saying their businesses are suffering financially because their workforces lack the right competencies, per a report by Advisor Magazine, having employees who prefer to focus on mastering the skills required to excel in their specialization would not only benefit them as workers but also the business as a whole.

So, as a leader, it’s important to recognize that sometimes, moving a strong subject matter expert into a managerial role isn’t worth sacrificing the qualities that make them excel and excited about their jobs in the first place. From their technical skills to their fast execution abilities, for some, shifting their focus to managing people may mean letting go of the main value they bring to the table and their passion for what they do.

So, how can you retain the skills and expertise of top performers who aren’t interested in or right for a managerial path? And how can you create meaningful growth and development opportunities for them? 

Build a development path

Try to create a meaningful growth roadmap for ICs to refine their expertise, including evolving KPIs, responsibilities, and reporting structures. Consider the kinds of milestones that would make a particular growth path rewarding, including personal development opportunities and ways to increase one’s sense of ownership and impact over time. Then, when interest arises to explore a particular path, work collaboratively with your IC to edit and co-create their personal plan. Maybe this means moving toward a technical expert role or leading certain innovation projects. Whatever the case may be, give them a flexible roadmap that can adapt as both their interests and the company’s needs evolve.

Deliver useful resources

76% of employees say they are more likely to stay with a company that offers ongoing training, according to the Society for Human Resource Management. So once you and your employee have decided which skills they should focus on developing, give them the right resources and learning opportunities to get there. Consider leveraging online learning platforms for them to take courses in their spare time, and if your organization gives a stipend for education, encourage your IC to take a multi-week intensive or attend relevant conferences and workshops.

Additionally, try to seek out other successful ICs at your organization who can share their learnings and mentor your team members. 87% of mentees feel empowered by their mentoring relationships and have developed greater confidence in their abilities, according to a study by Women Ahead, and 75% of executives say mentoring has been critical to their career development, per the American Society for Training and Development. So do your best to seek out meaningful mentorship and support for your ICs to ensure their long-term success.

Encourage exploration

If your ICs are feeling a bit stuck in their daily tasks, try to explore a job rotation program. These structured initiatives allow employees to try different roles within their organization for a given period of time, which can help them more deeply understand other parts of your company, how different roles connect, and ways to optimize their own work to better support others. On top of that, job rotation programs can give your team members the opportunity to discover new skills or enhance the ones they already have by applying them in different ways.

Identify leadership opportunities

ICs don’t have to manage a team to take on leadership roles, and can often bring a needed fresh perspective to big-picture conversations. So keep an eye out for opportunities for your ICs to lead programs or participate in high-level decision-making discussions, like helping to build product roadmaps or planning a department off-site. When you provide avenues for non-managerial leadership, you help your ICs exercise their visionary skills and strategic thinking while aligning their personal development goals with company objectives.

Show appreciation in a meaningful way

Only 21% of employees say they receive regular recognition from their manager, per a WorkHuman study, which is concerning given that 80% of employees would work harder if they felt better appreciated, per a Zippa report. With ICs often working “behind the scenes,” their contributions are sometimes overlooked. So, try to find ways to spotlight their achievements and ensure the larger team understands the skill and effort they bring to the table. Employees who are recognized are almost 6x more likely to stay at their jobs than those who aren’t, as outlined by a recent Divvy Engagement report, so make sure you’re validating your ICs on a regular basis.

Compensate fairly

ICs may not be managers, but their contributions can have just as much of an impact on company success. So, as their roles evolve and expand, make sure their compensation grows too. Managers are sometimes compensated by how many direct reports they have, so instead of that approach, try to follow a skills-based compensation model that rewards expertise and ownership. This could include a salary increase, a bonus, or benefits like stock options, which would make them feel just as valued as their managerial equivalents.

Water cooler chatter

Taylor Swift is adding a new chapter to her record-breaking Eras Tour. The megastar announced that she’ll be releasing a commemorative book about her Eras Tour experience on Black Friday, containing never-before-seen photos along with rehearsal shots and reflections written by her. And she’s doing it without help from a traditional publisher.

Tesla police cars have officially backfired. California police departments replaced their fleets with Teslas in an effort to reach a zero-emissions future, but it turns out these models are presenting significant challenges: a back seat too small for more than one passenger, autopilot interferences when trying to pull off the road, and reliance on unsecured charging stations leaving cops vulnerable.

Question of the week

Last week’s answer: Bhutan, an average of 55.3 hours per week

This week’s question: By what percentage can employee performance drop due to uncomfortable temperatures?

Just for laughs