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Op/Ed

Surprise: Savings have mostly grown during the pandemic

(OPINION / EDITORIAL) Even in the midst of the COVID pandemic, some portions of the American populace have been able to – paradoxically – bolster their savings.

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Plastic clear piggy bank representing savings.

What I’m about to say will sound strange – for many Americans, the pandemic has proven to be a vehicle for increasing their savings. Perhaps even stranger, a significant portion of this group may even have more discretionary funds to spend during this holiday season.

I’ll repeat that for emphasis – the pandemic has given rise to an improvement in finances for American families, as the overall debt has lowered, spending may remain unchanged, and savings continue to increase.

I’ll quickly add in that this certainly isn’t the case for everyone, and do not want to paint a picture that is entirely rosey – many are still struggling, job growth recently saw its lowest numbers of the year, and others worry that we could be facing down another potential storm of instability. What will follow is not meant to discount or ignore these issues, but to highlight a somewhat puzzling and weirdly hopeful piece of the American landscape.

Bloomberg Wealth reports that trends reflect Americans holding more cash in reserves. This has been the result of a number of factors, such as the government stimulus earlier this year, record-low mortgage rates fueling refinancing to help decrease monthly payments relative to income, and residual inertia from the strong economy prior to the pandemic.

“The consumer here in the U.S. is relatively stable and, honestly, somewhat relatively better than we might have feared back in the height of the pandemic in the second quarter of 2020,” Marianne Lake, JPMorgan Chase & Co.’s chief executive officer for consumer lending, said Nov. 9 at a virtual investor conference .

Many believe that this means the final quarter could see better-than-expected results (though some disagree given current data). Retail confidence is relatively strong in the face of so many potential hardships. Even working class families that bore the brunt of the downturn are shown – on average – to have more money in the bank now, and may in turn spend it to help the economy during the festive months.

One advantage that the current situation affords over the prior 2008 recession is the position that many were in to begin with, giving the average American a better starting point to deal with the downturn. “The consumer came into this crisis in a pretty strong position in terms of household balance sheets and household liquidity and debt service burdens,” JPMorgan’s Lake said.

Pessimistically speaking, part of these savings are the result of an uneasy and volatile future. Lockdowns still loom in the distance, and layoffs dot the horizon in numerous industries (including air travelentertainment, and food service). This in turn causes people to hold onto what they have now, whether it be pre-pandemic savings, unemployment benefits, or side gigs until a sense of economic normalcy can be re-established.

It remains to be seen how 2020 will end in terms of consumer confidence, but several potential options exist that could bring the year to a productive close. For example, there is hope for another government stimulus package, and money in the bank could be tapped to drive sales further. Americans may approach sales with eagerness, guided by the idea of “comfort spending,” and a willingness to console friends and family through retail.

In any case, while the pandemic continues into the wintry months, there are numerous perspectives on how to view the economy and where it may or may not go.

Robert Snodgrass has an English degree from Texas A&M University, and wants you to know that yes, that is actually a thing. And now he's doing something with it! Let us all join in on the experiment together. When he's not web developing at Docusign, he runs distances that routinely harm people and is the kind of giant nerd that says "you know, there's a King of the Hill episode that addresses this exact topic".

Op/Ed

The real reason women are overlooked? Leadership is seen as masculine

(EDITORIAL) We can tell women to “lean in,” or we can address what researchers point to as the real challenge – leadership is still seen as a masculine trait.

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leadership

Researcher Tomas Chamorro-Premuzic recently rejected the popular advice of “leaning in” for women* looking to scale the professional ladder. It’s not that women are unconsciously holding themselves back from leadership opportunities, as Sheryl Sandburg so famously theorized in her TED talk and subsequent book.

But, this advice only works for women aren’t actively pursuing higher roles and greater responsibilities.

The reality is more that even when women are advocating for themselves, they are less likely to be seen as having the qualities of a leader. This widespread gender bias isn’t news: Pantene and some partners even released a feel-good commercial that capitalized on calling out how assertive women are “bossy” and borderline competent men are seen as “the boss.”

As Chamorro-Premuzic explains, the fact that our culture has so closely adhered to the belief that these characteristics are “masculine” is more likely what holds high-performing women back. Even if they are better than their competition, even other women will often not evaluate them fairly because of how they have internalized our culture’s apparent blindness to women’s ability to be “the boss.”

But then, even some masculine-identifying or preforming people who are inferior in their technical skills could be afforded afforded many professional benefits because of the implicit bias we carry into business spaces that favors “masculine” traits. For example, “male-performing” assertive people may get credit for a quieter colleague’s work.

Where Chamorro-Premuzic’s editorial gets really interesting is when they reject the idea that women and other minorities need to over-compensate for their marginalization and try to join the good ol’ boys club.

He explains, “If our solution is to train women to emulate the behavior of men… we may end up increasing the representation of women in leadership without increasing the quality of our leaders. In this scenario, women will have to out-male males in order to advance in an inherently flawed system where bad guys (and gals) win. Unless our goal is to make it easier for incompetent women to succeed – much as it is for men – there is little to gain from this approach.”

As I’ve said before: Being a leader is a gender-neutral act, (spoiler: so are all actions!); the sooner that we can accept that coding behavior as “masculine” or “feminine” only serves to obscure people’s actual contributions, the better.

Removing these archaic labels allows the real competencies of professionals to be evaluated — for their benefit, and their organization’s benefit.

For now, organizations that make conscious efforts to level the playing field (like the National Association of Realtors’ restructure leading to half of their leadership team being women) are the primary answer as our culture shifts to a more aware environment.

*Though the referenced article and study perpetuate a binary gender structure, for the purposes of our discussion in this article, I expand its “diversity” to include femme-identified individuals, nonbinary and trans workers, and anybody else that does not benefit from traditional notions of power that place cisgendered men at the top of the social totem pole

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Op/Ed

10 productivity tips to get the most out of yourself and your team

(EDITORIAL) Keeping up productivity can be a hard goal to shoot for, so sometimes It helps to see what others are doing. Here’s our list of 10 ways to stay productive

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productivity in a team

Funny thing about inverse relationships, they are so counterintuitive. Like working hard. That is an example of doing what you think will be beneficial, but usually just makes the job what you expected, hard. When it comes to productivity, harder isn’t smarter, as the saying goes.

And, if you are sick of the word “hack” we hear you. But, finding ease in work will allow you to be more productive and with better results.

We offer you this list of stories to meet your productivity needs. Here’s to finding work-life balance, seeking ease in the moment and rocking out a productive day!

1. If you’re trying to be more productive, don’t focus so much on time management. Instead, consider energy management to get more out of less effort.

2. Meetings suck. Wait, I mean they are a time suck. Yeah, that’s it. Everyone knows some meetings are unnecessary and could easily be handled through an email. Yet, many supervisors are hesitant. But, there’s an app for that now. Here’s to meeting less and actually getting work done.

3. Kondo your desk, for God’s sake. If you say you are more productive with a messy desk, yet you have a sandwich from last week and those TPS reports you were supposed to turn in weeks ago somewhere under a pile of crap, you need to clean up your act. Nobody wants to get a report covered in coffee, chocolate, and mustard.

4. Are you agile? I mean, really. Is your team as productive as it could be? Whether you are a PM or a real estate agent, if you need a tool that helps your team stay agile and nimble, this will help you and your crew kick ass and take names.

5. Cut the team some slack. Too many messages and you forget what you were originally doing. Slack thought about that and has a way to make the app work for your team so you can be more effective and keep the workflow moving.

6. Working remotely has some serious benefits, notwithstanding working in your PJ’s. While it is the norm now, convincing your boss you will actually work in the future and not binge on Netflix may be the challenge. And, for many folks, working from home is a much more productive option long term, even after COVID restrictions lift. Yet, anyone who has worked remotely also knows it can be easy to get caught up in work and miss human interactions, leading to burnout. Here’s how to make the remote transition work for you.

7. Sometimes more is less. That is the truth when it comes to work where quality beats quantity all day long. Our 9-5 workdays may be good for some, but not for all. And, putting in 80-hour weeks may seem righteous dude, but what do you really accomplish? Kick productivity in the butt and consider are you using your hours wisely.

8. Want to be a baller in the workplace? Then get focused. According to the experts, those at the top of their game aren’t necessarily working harder or smarter, they are just hyper-focused. Here are some good habits to have if you want to get ahead.

9. If it seems everyone has a podcast, you are correct! Some of those podcasts are useful, especially if you are trying to get ahead and find ways to use your productivity to the fullest. Here’s a list of podcasts that will fill your free time with useful information.

10. Creative folks love to start new projects. They can be like kids in the candy store any time they have a new idea they must explore. The problem is that whether you are an artist, writer, graphic/web/software designer or developer, you may start a lot of projects and finish few. Here’s how to finish what you start!

By now, you know what information to keep and you are ready to get your rear in gear. We wish you all the success with your future projects. We know you will be diligent and hyper-productive!

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Op/Ed

Living through a pandemic has us ALL on high alert, causing exhaustion

(MENTAL HEALTH) When your system is constantly in a state of unknown, you’re in a state of high emotion. After an extended period, exhaustion and burnout set in.

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exhaustion high emotion

It isn’t a stretch to say that universally, people are feeling burned out these days. Whether it’s because of ongoing COVID-19 ramifications (the top cause today) or good old-fashioned job stress, the majority of burnout cases have one thing in common – high-intensity emotions.

According to Yale lecturer, Emma Seppälä, any kind of high-intensity emotion – be it fear, joy, rage, or anything in between these feelings – can lead to sheer exhaustion after a certain point.

And while these emotions are completely justified in today’s tumultuous world, it’s also apparent that the range of extreme emotions one can feel in an ordinary day is widening, making burnout all the more inevitable.

What Seppälä says many people don’t know is that those positive, high-intensity emotions, while contributing to burnout in their own way, lead to a feeling of “crashing” after elation rather than the soul-sucking despair one often tends to feel after experiencing a wave of negative emotions.

The exhaustion one experiences may feel different depending on the emotions inspiring it, but the outcome is often the same – a complete and total depletion that “taxes the body.”

Seppälä also points out that some people experience emotions in a more acute fashion than others, with “15-20% of people” being classified as “highly sensitive.” People who fit into this category may be more susceptible to exhaustion from high-intensity emotions.

The past few years have been extremely emotionally polarizing, with things like social media, social justice movements, elections, and, yes, pandemics jeopardizing the otherwise-calm natures of many across the world.

Burnout isn’t surprising in a world in which one can see every public thought each member of their family has had in the last decade, nor is high-intensity emotions becoming more present a shock.

Seppälä posits that the solution to living in such a world is emotional balance, which entails making intentional time for calm, low-key activities to counteract some of the more stressful ones you may encounter from day to day. Staying off of social media, setting boundaries with friends and family, and participating in the news cycle during the day rather than before bed are all good examples of ways to minimize your stress throughout the week.

It’s a stressful world we live in, and if this last year and a half has taught us anything, it’s only going to get more stressful. Emotional balance, where possible, is perhaps the best solution to an otherwise ubiquitous problem.

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