The beginning of new calendar years are often a time that minimum wages get adjusted for the cost of living, but pandemic-induced labor shortages have pushed the paychecks of many cooks, housekeepers, and grocery clerks up at a faster rate than required by states. So, while 22 states are increasing their pay floors by up to $2 this year, most low-wage workers are already making well above those minimum salaries. In fact, the lowest 10% of workers by income in each state earned hourly wages that were nearly 50% higher, on average, than their state\u2019s minimum wages in 2023, according to a Wall Street Journal analysis, marking the largest gap between actual pay and minimum pay in a decade. However, as wages continue to rise, some experts warn that higher rates of job loss could subsequently follow.<\/p>\n
In an effort to bolster global competitiveness, as of January 1st, South Korea has officially initiated the issuance of digital nomad visas, opening its doors to remote workers seeking extended stays of up to two years. While previously, foreigners were required to apply for tourist visas without which they could only stay for up to 90 days, the new system will allow employees and employers in overseas firms to live and work remotely in South Korea for a much longer period of time. Digital nomads interested in applying must be able to prove that they earn an annual income of over 84.96 million won (US $65,000,) which is double the gross national income per capita in South Korea. Additionally, applicants must be at least 18 years old and have a minimum of one year\u2019s worth of work experience in their respective field. For now, this new visa system is considered a test run \u2013 the government will assess whether to make it a permanent process.<\/p>\n"}]},{"main_heading":"The AI corner","content_block":[{"acf_fc_layout":"text","content":"
Online returns can be extremely costly for retailers, which is why most are trying to limit the practice. While many have enacted tougher return policies or are only offering store credit for returns, apparel and fast-fashion brands are increasingly turning to AI to help with the fight. How exactly? The companies are using the advanced technology to sharpen product descriptions and recommendations, direct advertising toward consumers they believe will hold on to their purchases, and steer certain ads away from shoppers most likely to return products. While they can\u2019t stop platforms from letting customers purchase, they apparently can use AI to boost the targeting for audiences that seem less likely to return.<\/p>\n
Over the past few years, the US and China have been competing for supremacy in AI. And while China\u2019s AI capabilities are already believed to be formidable, lately US intelligence authorities have been issuing new warnings beyond the threat of intellectual-property theft \u2013 instead of simply stealing trade secrets, they believe China could be using AI to collect and stockpile data on Americans at a scale that has never been possible before. US authorities also believe Chinese intelligence operatives are correlating vast amounts of sensitive information across the databases they\u2019ve taken over the years from OPM, health insurers, and banks \u2013 like fingerprints, foreign contacts, financial debts, and personal medical records \u2013 to locate and track undercover US spies and pinpoint officials with security clearances.<\/p>\n"}]},{"main_heading":"What to do when an employee quits","content_block":[{"acf_fc_layout":"text","content":"
By monday.com<\/em><\/p>\n Not to be the bearer of bad news but research shows that January is the most common month for employees to quit \u2013 and it\u2019s not always the people you\u2019d expect. No matter how great of a manager you are, there will come a time when a top performer, someone with whom you have a really great working relationship, or even a team member you thought had serious potential to grow within your team, chooses to leave for a new opportunity.<\/p>\n And regardless of how disappointing that news can be, as a leader, you need to be prepared to effectively handle employee departures in order to sustain positive relationships and avoid turnover contagion \u2013 the phenomenon in which one person leaving triggers others to follow suit.<\/p>\n So, how should you respond when an unexpected employee gives notice?<\/strong><\/p>\n Despite what some might say, your team is not your family. Of course, it\u2019s important to feel close and connected, but at the end of the day, those reporting to you will undoubtedly shift over time. The first team you manage in your career almost certainly won\u2019t be the same as the last, given that as time goes on, you\u2019ll likely hire some amazing new talent, and also find yourself saying goodbye to people you really appreciated working with. Sometimes you\u2019ll even be the one leaving for something new! So first and foremost, remind yourself that even when a star employee chooses to leave, it\u2019s not personal \u2013 they\u2019re being loyal to themselves, not disloyal to you.<\/p>\n As a manager, you\u2019ve likely invested a lot into your team, so finding out that your employee is leaving can be really upsetting. And while you\u2019re certainly allowed to feel whatever you\u2019re feeling inside, it\u2019s extremely important to not react impulsively or say something you may wind up regretting. So, when you first receive this kind of news, do your best to stay calm. Don\u2019t simply try to fill the silence if you\u2019re not sure what to say yet. Take a moment, and then keep your initial reply honest and supportive. It can be something like, \u201cWow, I\u2019m really sad to see you go, but it sounds like a great opportunity \u2013 your new company is lucky to have you.\u201d<\/p>\n It\u2019s also completely acceptable to request some time to process the news before continuing the conversation. In fact, if this update caught you by surprise, it\u2019s actually worthwhile to propose reconnecting later in the day so that you can digest a bit and prepare a few intentional questions that could provide useful information.<\/p>\n While saying goodbye to an excellent employee is never easy, try to view these changes as an opportunity to improve and learn how to retain valued team members going forward. When an employee gives notice, ask them if they would be open to discussing how you can best support the team members who are still around. If they agree, here are some questions to ask in order to gain the most helpful insights:<\/p>\n Remember that it\u2019s completely natural for employees to come and go and that this team member has their own reasons for choosing to leave \u2013 be it a better opportunity, greater compensation, personal reasons, or all of the above. So regardless of how disappointing it may be that they\u2019re leaving, respect that they are doing what they feel is best for them, their career, and\/or their family. As a former employee, this person is still a brand ambassador for your organization and could be a future customer, client, or referral source, so it\u2019s important to end on good terms and to make it clear that ultimately, you want what\u2019s best for them. Thank them for their contributions to the team, congratulate them on this next step, and emphasize that you\u2019d be happy to remain a resource for them going forward.<\/p>\n Turnover contagion is very real, and something of which, as a manager, you need to be wary of. Recent research into tens of millions employee records by data and analytics giant Visier found that when an employee leaves, others in their team are 9.1% more likely to leave as well \u2013 and that percentage is even greater on smaller teams. So, when you announce an employee\u2019s departure, be thoughtful and intentional. Schedule a meeting with the whole team to share the news and remember that the more positive and level-headed you seem, the more reassured your team members will be. Make it clear that the person is leaving on positive terms with the company, and do your best to address all of the potential questions your team members may have. From what will happen with this role to the ways in which it will affect the remaining team members to how you\u2019ll all move forward together, come prepared. And of course, let them know that you\u2019re available if they have any questions or concerns as you adjust to the change.<\/p>\n Additionally, in the days following this announcement, try to start implementing the relevant feedback you received from the former employee, and follow up with the team members that they specifically flagged for you.<\/p>\n"}]},{"main_heading":"Water cooler chatter","content_block":[{"acf_fc_layout":"text","content":" Despite government pushes, many young Chinese women are not interested in having more babies, which has triggered a crisis for the Communist Party trying to mitigate China\u2019s declining population. The country\u2019s current population is around 1.4 billion, but some experts project it\u2019s likely to drop to just around half a billion by 2100.<\/p>\n"},{"acf_fc_layout":"quote","quote_text":"\u201cHaving had one child, I think I\u2019ve done my duty\u2026 I can have another kid as long as you give me 300,000 yuan.\u201d","quote_author":"Feng Chenchen, Mother of a 3-year-old girl","quote_author_avatar":false,"quote_author_position":""},{"acf_fc_layout":"text","content":" Starbucks will allow customers to use personal cups for nearly all orders in an effort to reduce the massive amount of waste the coffee chain produces from its iconic disposable cups. Starbucks notes that the cups must be clean and that baristas won\u2019t rinse them out.<\/p>\n"},{"acf_fc_layout":"quote","quote_text":"\u201cThis is part of a larger cultural movement the company is leading to shift toward reusables and away from single-use plastics, making it convenient for customers to use their own personal cup for every visit.\u201d","quote_author":"Starbucks press release","quote_author_avatar":false,"quote_author_position":""}]},{"main_heading":"Question of the week","content_block":[{"acf_fc_layout":"text","content":" Last week\u2019s answer:<\/strong> Hawaii<\/p>\n This week\u2019s question:<\/strong> What percent of hiring managers lie during job interviews?<\/p>\n"}]},{"main_heading":"Just for laughs","content_block":[{"acf_fc_layout":"image","image_type":"normal","image":149362,"image_link":null}]}]}],"lobby_image":false,"post_thumbnail_title":"","hide_post_info":false,"hide_bottom_cta":false,"hide_from_blog":false,"landing_page_layout":false,"sidebar_color_banner":"","custom_tags":false,"disclaimer":"","cluster":"","display_dates":"published","post_date":"20240109","faqs":false,"activate_cta_banner":true,"cta_banner_text":" Don\u2019t miss <\/strong> more quality content!<\/p>\n","use_customized_cta":false,"custom_schema_code":""},"yoast_head":"\nTry not to take it personally<\/h3>\n
Take a moment<\/h3>\n
Ask for their insights<\/h3>\n
\n
End on good terms<\/h3>\n
Come prepared<\/h3>\n