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Why one-on-one employee reviews should be on your to do list

(BUSINESS NEWS) While the New Year novelty has started to wear, there is still time to strike while the lightning is hot with employee reviews.

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meeting employee reviews

Just another New Year?

We are now a full month into 2017, which means we may now be tapering off on our resolutions. That’s the irritating misconception about New Year’s resolutions – if progress isn’t seen within the first few weeks, we’re compelled to give up.

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There shouldn’t be such an emphasis put on bettering your life during the first 31 days of a new year, we should be taking steps all throughout the 365 in order to enhance our lives. Which is why it is not too late to implement something that is important to a new calendar year: employee reviews.

One-on-ones

Sitting down one-on-one with your employees after the hectic-ness of year-end can be extremely beneficial. And, there are a variety of reasons this method beats standard evaluations.

1. This can inspire employees
By meeting one-on-one, you are able just to focus on that specific employee. This helps remind them of their value to the company and will likely inspire a surge of motivation.

2. Questions, questions
This provides an opportunity for you to ask each other questions. Employers have the chance to ask how the employee feels about how their role, while employees can find out ways of improvement.

3. Not just a number
By taking the time to give one-on-one reviews, employees will feel a sense of appreciation and are less likely to feel like they are just a number. It should be a priority to take some time to remind your employees of their value to your organization.

4. Work improvement
As noted in #2, this provides a chance to inform employees of where they can find improvement. Without conversations like this, the same performance is going to be given and there may never be room to grow.

Again, just because the novelty of the New Year has begun to wear off, it doesn’t mean that it’s too late for taking advantage of when things are a bit more quiet on the work-front to meet with employees.

#EmployeeReview

Staff Writer, Taylor Leddin is a publicist and freelance writer for a number of national outlets. She was featured on Thrive Global as a successful woman in journalism, and is the editor-in-chief of The Tidbit. Taylor resides in Chicago and has a Bachelor in Communication Studies from Illinois State University.

Business News

Office Depot still open to buyers – just not you, Staples

(BUSINESS NEWS) This isn’t the first time the office giants have tried to combine, but Office Depot has some particular conditions if Staples wants to acquire them.

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Balding man in glasses at a whiteboard, using supplies from Office Depot.

In Staples’ third attempt to take over Office Depot, its acquisition offer was rejected by the ODP Corporation, Office Depot’s parent company. On January 11, Staples sent a letter to Office Depot’s board of directors offering to buy “100% of the issued and outstanding common stock” from its office-supply rival. At $40 per share, the deal to acquire Office Depot is over $2 billion.

“Staples believes that its all-cash transaction is a compelling value proposition for ODP’s stockholders that offers a high degree of certainty and is superior to the intrinsic, standalone value of ODP,” wrote Stefan Kaluzny, on behalf of the Board of Directors of USR Parent, Inc (Staples).

In response to Staples’ offer, the ODP corporation issued its own letter. “The Board has unanimously concluded that there is a more compelling path forward to create value for ODP and its shareholders than the potential transaction described in your proposal,” wrote ODP Chairman Joseph Vassalluzzo.

Although Office Depot refused Staples’ proposal, the company said it’s willing to make other alternative deals. “We are open to combining our retail and consumer-facing e-commerce operations with Staples under the right set of circumstances and on mutually acceptable terms,” wrote Vassalluzzo.

In the letter, Office Depot said it is willing to consider a joint venture where both companies “would equally share the risks and benefits.” The company would also consider a partial-sale of its retail and consumer-facing e-commerce operations.

If Staples is willing to come to either of those agreements, they will still require regulatory approval. But, Office Depot says their options offer a less “regulatory risk” by pursuing a retail-only transaction. And, will “help maintain competitiveness against nontraditional retailers and optimize ongoing choices for consumers.”

In 1997 and 2016, the Federal Trade Commission blocked the two companies from merging. Who’s to say it won’t happen again, even with the changes Office Depot is telling Staples to make in its offer.

“What we do not plan to do, however, is engage in a transaction that, as history has shown, would likely result in a prolonged and expensive regulatory review process with no guarantee of success, without a commitment that Staples is willing to bear this risk through a customary “hell or high water” provision,” wrote Vassaluzzo.

Until Staples is willing to come to an agreement with Office Depot that doesn’t include a full takeover, ODP’s answer is a firm “no”.

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Business News

Big retailers are opting for refunds instead of returns

(BUSINESS NEWS) Due to increased shipping costs, big companies like Amazon and Walmart are opting to give out a refund rather than accepting small items returned.

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Package delivery people holding deliveries. Refund instead of returns are common now.

The holidays are over, and now some people are ready to return an item that didn’t quite work out or wasn’t on their Christmas list. Whatever the reason, some retailers are giving customers a refund and letting them keep the product, too.

When Vancouver, Washington resident, Lorie Anderson, tried returning makeup from Target and batteries from Walmart she had purchased online, the retailers told her she could keep or donate the products. “They were inexpensive, and it wouldn’t make much financial sense to return them by mail,” said Ms. Anderson, 38. “It’s a hassle to pack up the box and drop it at the post office or UPS. This was one less thing I had to worry about.”

Amazon.com Inc., Walmart Inc., and other companies are changing the way they handle returns this year, according to a report by The Wall Street Journal (WSJ). The companies are using artificial intelligence (AI) to weigh the costs of processing physical returns versus just issuing a refund and having customers keep the item.

For instance, if it costs more to ship an inexpensive or larger item than it is to refund the purchase price, companies are giving customers a refund and telling them to keep the products also. Due to an increase in online shopping, it makes sense for companies to change how they manage returns.

Locus Robotics chief executive Rick Faulk told the Journal that the biggest expense when it comes to processing returns is shipping costs. “Returning to a store is significantly cheaper because the retailer can save the freight, which can run 15% to 20% of the cost,” Faulk said.

But, returning products to physical stores isn’t something a lot of people are wanting to do. According to the return processing firm Narvar, online returns increased by 70% in 2020. With people still hunkered down because of the pandemic, changing how to handle returns is a good thing for companies to consider to reduce shipping expenses.

While it might be nice to keep the makeup or batteries for free, don’t expect to return that new PS5 and get to keep it for free, too. According to WSJ, a Walmart spokesperson said the company lets someone keep a refunded item only if the company doesn’t plan on reselling it. And, besides taking the economic costs into consideration, the companies look at the customer’s purchase history as well.

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Business News

Google workers have formed company’s first labor union

(BUSINESS NEWS) A number of Google employees have agreed to commit 1% of their salary to labor union dues to support employee activism and fight workplace discrimination.

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Google complex with human sized chessboard, where a labor union has been formed.

On Monday morning, Google workers announced that they have formed a union with the support of the Communications Workers of America (CWA), the largest communications and media labor union in the U.S.

The new union, Alphabet Workers Union (AWU) was organized in secret for about a year and formed to support employee activism, and fight discrimination and unfairness in the workplace.

“From fighting the ‘real names’ policy, to opposing Project Maven, to protesting the egregious, multi-million dollar payouts that have been given to executives who’ve committed sexual harassment, we’ve seen first-hand that Alphabet responds when we act collectively. Our new union provides a sustainable structure to ensure that our shared values as Alphabet employees are respected even after the headlines fade,” stated Program Manager Nicki Anselmo in a press release.

AWU is the first union in the company’s history, and it is open to all employees and contractors at any Alphabet company in the United States and Canada. The cost of membership is 1% of an employee’s total compensation, and the money collected will be used to fund the union organization.

In a response to the announcement, Google’s Director of People Operations, Kara Silverstein, said, “We’ve always worked hard to create a supportive and rewarding workplace for our workforce. Of course, our employees have protected labor rights that we support. But as we’ve always done, we’ll continue engaging directly with all our employees.”

Unlike other labor unions, the AWU is considered a “Minority Union”. This means it doesn’t need formal recognition from the National Labor Relations Board. However, it also means Alphabet can’t be forced to meet the union’s demands until a majority of employees support it.

So far, the number of members in the union represents a very small portion of Google’s workforce, but it’s growing every day. When the news of the union was first announced on Monday, roughly 230 employees made up the union. Less than 24 hours later, there were 400 employees in the union, and now that number jumped to over 500 employees.

Unions among Silicon Valley’s tech giants are rare, but labor activism is slowly picking up speed, especially with more workers speaking out and organizing.

“The Alphabet Workers Union will be the structure that ensures Google workers can actively push for real changes at the company, from the kinds of contracts Google accepts to employee classification to wage and compensation issues. All issues relevant to Google as a workplace will be the purview of the union and its members,” stated the AWU in a press release.

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