How companies can improve workplace productivity | McKinsey | Google at 25 faces antitrust threats on both sides of the Atlantic that could break up its business | Will ESG Investing Solve Our Pressing Problems? | Gates Foundation Allocates $30 Million Towards Advancing AI In Africa

View online | Unsubscribe (one-click). For inquiries/unsubscribe issues, Contact Us

� � � � � � How companies can improve workplace productivity | McKinsey -     The pandemic has forced major changes in how, when, and where people work. It has also bedeviled employers. Due in part to new hybrid and remote-working models, companies are struggling to find objective ways to gauge employee effectiveness—a critical challenge as labor costs have increased and worker productivity has declined.1The US labor productivity rate in the first quarter of 2023 declined at its fastest rate in more than 75 years, according to the Bureau of Labor Statistics. Unit labor costs in the nonfarm business sector increased 4.2 percent in the period, reflecting a 2.1 percent increase in hourly compensation and a 2.1 percent decrease in productivity. Furthermore, worker productivity grew by just 1.1 percent, which is the lowest growth rate since 1981. According to recent analysis from the McKinsey Global Institute, boosting US productivity represents a $10 trillion opportunity. For more, see “Rekindling US productivity for a new era,” McKinsey Global Institute, February 16, 2023. We surveyed 15,366 workers in seven countries (Australia, Canada, Germany, India, Singapore, the United Kingdom, and the United States) from November 2022 to January 2023 about their job satisfaction, commitment, well-being, and self-reported performance, sorting them into groups by their postpandemic working model (mostly in-person, hybrid, or mostly remote). Four steps were taken to reduce bias from self-reported data and increase their validity: all data were normalized within groups to reduce inflation and deflation issues.1David Bartram et al., “A critical analysis of cross-cultural research and testing practices: Implications for improved education and training in psychology,” Training and Education in Professional Psychology, 2009 Volume 3, Number 2. Items were phrased with an external reference or social comparison, which improves accuracy to the level of supervisor ratings.2Gregory H. Dobbins and Jiing-Lih Larry Farh, “Effects of self-esteem on leniency bias in self-reports of performance: A structural equation model analysis,” Personnel Psychology, 1989, Volume 42, Number 4. Multiple performance items were presented, which increases multidimensionality and subsequent rating accuracy, similar to supervisory ratings.3Terry A. Beehr et al., “Relationships between job evaluation ratings and self-ratings of job characteristics,” Organizational Behavior and Human Decision Processes, 1985, Volume 35, Number 1. Continued here � � � � � � Don't like ads? Go ad-free with TradeBriefs Premium Google at 25 faces antitrust threats on both sides of the Atlantic that could break up its business - Fortune    Alphabet Inc.’s Google has vowed to fight the European Union’s threat to break up its ad business, setting the scene for an antitrust battle that could eventually rival its ongoing clash with the US Justice Department and state attorneys general. In a recent letter to EU watchdogs, Google warned it won’t accept the mandatory divestment of part of its services, deemed by Margrethe Vestager, the bloc’s currently-on-leave antitrust chief, as “the only way” to restore competition. Google is set to formally oppose the EU’s June statement of objections before the end of the year, said a person familiar with the content of the letter, who spoke on condition of anonymity. Continued here � � � � � � Will ESG Investing Solve Our Pressing Problems? - INSEAD Knowledge    ESG investing is arguably one of the hottest trends in the financial markets in the past years, with funds purportedly aligned with environmental, social and governance goals hitting US$3 trillion by the end of 2021. The strong demand for ESG-related funds in the capital markets is driven by the twin virtues often promised for ESG investing: These funds are expected to deliver not only positive ESG impact as their labels suggest, but also superior financial returns. Doing well and doing good at the same time is a strong value proposition that makes investors feel great. The empirical question is whether ESG or sustainable investing delivers both the desired financial and environmental results in practice. An increasing body of research casts doubt on these claims. Continued here � � � � � � Gates Foundation Allocates $30 Million Towards Advancing AI In Africa - Forbes    Bill Gates, who is enthusiastic about the potential benefits of generative AI, is working to make ... [+] sure that the technology benefits everyone, not just the well-off. (Photo by Michael Loccisano/Getty Images) On Tuesday, The Bill & Melinda Gates Foundation announced a $30 million investment in a new AI platform in Africa that it says will aid scientists in developing solutions for healthcare and social issues across the continent. The foundation hopes the initiative will make AI, which Bill Gates has referred to as “the most important advance in technology since the graphical user interface,” more accessible to African researchers, paving the way for local innovation. It also aims to ensure the technology is developed safely, ethically and equitably. The new AI platform will include a data repository, as well as technical development and regulatory policy experts. Continued here

�

�

�

� � �

You are receiving this mailer as a TradeBriefs subscriber. We fight fake/biased news through human curation & independent editorials. Your support of ads like these makes it possible. Alternatively, get TradeBriefs Premium (ad-free) for only $2/month If you still wish to unsubscribe, you can unsubscribe from all our emails here Our address is 309 Town Center 1, Andheri Kurla Road, Andheri East, Mumbai 400059 - 415237602