To quote the American Bard, I’ve been everywhere, man. In my professional life I’ve worked for hippies in the hills, Gordon Gekko business savants, button-down Christian conservatives: name the American archetype, I’ve made them money. I am rich in experience.
Protip: that is not the same as actually being rich.
In the spirit of “memories don’t pay the Netflix bill,” I therefore assert the following: when you’re looking for a job, for the love of Dale Carnegie, remember you actually have to talk to these people.
Business culture can be the making or breaking of a gig. For that matter, it can be the making or breaking of a business. Day-to-day workplace experience is probably the most important question in any job hunt, and definitely the hardest to track. Here are 10 ways to get a sense of workplace culture – this is the important part – before you ambush your boss with a staple remover.
1. Comparably provides an interesting service, and an excuse to dust off your junior high compare/contrast skillz. They’re a job review database set up to allow searchers to review multiple positions side by side according to employee assessments. It’s a great tool for thinning out the herd in the first days of a job hunt, or coming to a final conclusion between opportunities.
2. Glassdoor. You know these guys. If you don’t, go forth. We’ll wait. Glassdoor is still the benchmark for workplace Yelp. Reviews are written by actual employees, often with sound and fury, and records of (mis)behavior often go back years.
3. Great Place to Work goes deep. They don’t have quite the breadth or recognition of Glassdoor, but what they do have is serious rigor. GPtW (it’s tiring to type) provides an anonymous survey to current employees of a given business covering the six categories of Atmosphere, Challenges, Communication, Pride and Rewards. Unless you have super strong views regarding workplace decor, that seems to cover matters.
4. Indeed. The best job board in the business has what is manifestly not the best job review site in the business, but a darn good start. They’ll break down your workplace-to-be (or not) on a 1-5 scale according to several things I guarantee you care about, and maintain a Glassdoor-style database of employee reviews.
5. Job Crowd. Job Crowd does a neat thing. They provide the usual employee reviews, but also encourage contributors to dig into their experience in specific job titles with the companies they review. That kind of specificity is a great value-add: if you’re the janitor, you probably don’t care how great the COO’s job is, and vice versa.
6. Kununu. Kununu is Europe’s Glassdoor, with better than a million reviews for over 250,000 companies. They went live in the States last year and haven’t matched that depth on this side of the hemisphere, but they’ve got the backing and the expertise.
7. Vault. Vaut’s a different beast from the above. Rather than being crowd driven, Vault has an in-house research company that puts together the goods on employers. As you’d expect, this costs. Their free content is only passable, but if you want the serious goods, it might be worth the 9.99/month (less with longer subscriptions.
STRATS, TIPS AND DIRTY TRICKS!
8. LinkedIn. I may be committing Internet blasphemy here, but reading the rants of strangers might – might! – not be as informative as communication with an actual human. Reach out to someone you’d be working with if you took the job you’re contemplating. You’ve got 150 characters, so keep it tight: “I’m Namey McNomen. We could be working together soon. Do you have a moment to chat about [issue you’re into]?”
9. Straight up Internet. Get your occupational stalker on. A Google search is, at its heart, a trawl through the greatest trove of gossip in the history of life. Delve into terribly informative and charming news articles like this one. Bone up on blog articles and – just this once! – read the comment sections. Even Facebook is worth a browse. Seriously, who doesn’t talk about work?
10. Get real. If you work in service, make like a customer. If there’s a front-end office, drop by. Watch, listen, get a feel for what’s happening around you. To compound my digital blasphemy, what comes out of glowing rectangles like the one you’re reading this on (thanks!) is great, but nothing compares to immediate experience.
Put some of this together with plenty of the digital resources above, and with any luck you’ll find yourself a gig that might just keep you from attempted murder with office supplies.
$100m reimagined convenience store startup to open 25 stores in 2022
(BUSINESS) Foxtrot is looking to redefine the convenience store as we know it. This startup is looking to make it a whole new experience.
Move over 7-11, there’s a new player in town! There’s always room for competition, even in the world of convenience stores. Yes, you read that right, Quick Trip has some serious competition from a newcomer, Foxtrot.
Foxtrot is a curated, modern convenience store offering a brisk 30-minute delivery and 5-minute pick-up. It was created by Mike LaVitola and Taylor Bloom in 2014. These stores will undoubtedly be popular in walkable areas, but also with their online ordering convenience. This modern version of a convenience store offers the combination of an upscale corner store with a digital-first e-commerce platform. Sounds pretty glorious, right?
However, the original convenience store is safe as long as people are traveling and need to stop for gas or a restroom break. If you’re from Texas, then you know and love, Buc-ee’s, the Texas-born chain. Buc-ee’s have been creating their own in-store products garnering a cult following among their customers. Still, Buc-ee’s doesn’t have an online ordering or delivery option unless it’s offered through a third party.
Foxtrot has raised $160 million in Series C funding and they are expecting to open 25 locations in many cities in 2022. There are a few different levels of funding. If a company makes it to Series C funding, they are already successful and looking to expand or develop new products per Investopedia.
According to Retail Dive, “About half of the new stores will be in Chicago, Dallas and Washington, where all of the 16 stores Foxtrot currently operates are located, LaVitola said. The tech-focused retailer is also planning to begin operations in Boston and Austin, and intends to open four or five new stores in each of those cities during the next year and a half, he said.”
Foxtrot is testing out technology equipment that would allow customers to leave the store without stopping to checkout at the counter. They plan isn’t to go entirely self-service, but as the creator LaVitola stated, “the more hours we can allocate towards sampling and storytelling and interacting with customers and less [on] tasks that don’t add on to value, like checkout, that’s great.”
Foxtrot is redefining convenience by including carefully curated products. They aim to offer local popular products as well core pantry items. They aim to make the commonly unpleasant experience of convenience stores enjoyable. Let’s hope they succeed.
What small business owners can learn from Starbucks’ new D&I strategy
(BUSINESS) Diversity and inclusion have been at the forefront of Starbucks’ mission, but now they’re shifting strategy. What can we learn from it?
Starbucks was one of many companies that promised to focus on diversity and inclusion efforts after the death of George Floyd by Minneapolis police in 2020. What sets Starbucks apart from other companies were its specific goals.
How It Started
They began with hiring targets and have now added goals in corporate and manufacturing roles. Starbucks’ plans and goals revolve around transparency for accountability. They released the annual numbers for 2021 as a way to help hold themselves accountable. The data they’ve released so far show that they’ve met nearly a third of their 2025 goals according to Retail Brew. Because of this information, we can see why they are choosing to move in the direction of manufacturing and corporate jobs. In 2021, POC’s fell to 12.5% of director-level employees from 14.3% in 2020 in manufacturing.
How It’s Going
Per Starbucks’ website stories and news, “[I]t will increase its annual spend with diverse suppliers to $1.5 billion by 2030. As part of this commitment, Starbucks will partner with other organizations to develop and grow supplier diversity excellence globally.” To put that into perspective, they spent nearly $800 million with diverse suppliers in 2021. With these moves, by 2030, it will increase by almost double.
As part of their accountability and progress, they plan to partner up with Arizona State University to give out free toolkits to entrepreneurs on fundamentals for running successful diverse-owned businesses. Another goal they’ve listed is to boost paid media representation by allocating 15 percent of the advertising budget to minority-owned and targeted media companies to reach diverse audiences.
At the heart of all this information on their goals and future plans, data transparency and accountability are what’s forcing them to look at the numbers to make specific goals. They are doing more than just throwing money at the problem, they are analyzing how they can do better and where the money will make a difference. Something that, as entrepreneurs, we should all do.
Peloton is back-pedaling: Reports of price increases, layoffs, and cost cuts
(BUSINESS) After a recording of layoffs leaks, ‘supply chain’ issues cause shipping increases, and they consult for cost-cutting, Peloton is doomed.
Is Peloton in Trouble?
According to many reports, Peloton had success early in the pandemic when gyms shut down. Offering consumers a way to connect with a community for fitness along with varying financing options allowed the company to see growth when many other industries were being shuttered.
After two years, CNBC reports that the company is “being impacted by …supply chain challenges” and rising inflation costs. According to the report, customers will be paying an additional $250 for its bike and $350 for its tread for delivery and setup.
As demand has decreased, Peloton is also considering layoffs in their sales and marketing departments, overheard in a leaked audio call. The recording details executives discussing “Project Fuel” where they plan to cut 41% of the sales and marketing teams, as well as letting go of eCommerce employees and frontline workers at 15 retail stores.
Nasdaq reported that the stock fell 75% last year, after a year where it soared over 400%.
Peloton reviewing its overall structure
According to another report from CNBC, Peloton is working with McKinsey & Company, a management consulting firm, to lower costs as revenue has dropped and the growth of new subscriptions has slowed since the pandemic. Last November, according to NPR, Peloton had “its worst day as a publicly-traded company.” It also anticipates greater losses in 2022 than originally predicted. It makes sense that the company would reexamine their strategy as the economy changes. They aren’t the only one that is raising prices amid supply chain issues.
It will be interesting to watch how Peloton fares
Peloton has a large community that pays a monthly fee for connected fitness. While growth has slowed, the company still has a strong share of consumers. Although it is facing more competition in the home fitness market and more gyms are reopening, as Peloton adjusts to the new normal, it should remain a viable company.
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