Talent issues are top-of-mind for business leaders in 2019. In fact, according to a new report from my organization, CEOs of small and midsize businesses rank decisions about talent higher in importance than decisions about customers and financials.
Despite concerns for the economy, 65 percent of the 1,257 CEOs included in the Q4 2018 Vistage CEO Confidence Index report said they planned to increase hiring this year. This was a shade lower than the recent 15-year peak of 71 percent, but current recruitment intentions are still greater than at any other time recorded by our survey since 2003.
With the United States almost at full employment and wages rising, hiring won’t be easy during the next 12 months. CEOs are employing a variety of strategies to cope with this challenge, such as boosting wages (64.6 percent), adding employee benefits (36.1 percent), investing in equipment to automate tasks (35.2 percent) and allowing employees to work remotely (25.1 percent).
However, there are other strategies to consider. Here are two that I recommend.
1. Work smarter, not harder, on talent sourcing
One of the most effective ways to source new talent is through employee referrals. Engage your existing workforce in the recruitment process by starting a referral program that provides incentives to employees to help bring the best people on board. Start an open conversation with all employees about how you reward effort to address any questions about compensation.
Professional networks can also be a valuable source of top talent. Use them to target both people who are actively seeking new roles and those who are happy working elsewhere, even if that’s with your competitors.
2. Get creative with professional development
Nearly three-quarters (71 percent) of the CEOs we surveyed recognized employee development will be key to their talent-management strategy in 2019. People are a business’s number-one asset. Giving them room to grow in the organization is one of the most effective ways of making them feel more valued, which can increase their productivity and make them stick around longer.
But don’t stop at training workers to be better in their current roles. Give them opportunities to develop communication, collaboration and leadership skills, and recognize their achievements with managed career progression. Connect senior leaders to junior team members through a mentorship scheme, too, and you’ll soon have a strong talent pipeline.
“There’s no reason to be afraid,” my spouse scolded, as my 1-year-old and 4-year-old shrieked at the top of their lungs. You would’ve thought they were being roasted alive, instead of merely strapped into the Burley Encore X as their parents gingerly hauled it down a small, steep hill to the beach.
For a minute, the stroller was poised over a three-foot drop. I held the roll bar from the top and lowered it to my spouse as I braced my feet on a tree root and thought, “Hey, I might start shrieking, too.” You can’t blame toddlers for tantruming when the tantrum makes perfect sense.
Our kids are used to this. Ever since my son has been big enough to hold his head up on his own, we’ve been hauling them around in the active parents’ bike trailer of choice, a Thule Chariot. The Chariot has different iterations at different price points, but each iteration can be modified for jogging, biking, or cross-country skiing.
This year, Burley released a series of new, rugged child bike trailers. While the the Eugene, Oregon-based company is known for super-safe designs, it’s hoping that the new Cub X, D’Lite X, and Encore X will get more Burley trailers off the streets and onto the sand, snow, and dirt.
I opted to test the Encore X performance sport stroller-trailer. It has suspension, in comparison to the more affordable Encore, but fewer of the luxury features of the D’Lite model. After a few weeks of testing, I still prefer our Chariot. But Burley’s many fans will find plenty of reasons to love the Encore X.
And It Was All Yellow
The Encore X is easy to assemble and use. Like Burley’s jogging stroller, the Solstice, the manipulable parts are set off in bright yellow plastic, so you know exactly which parts you are supposed to wrestle with and which ones you should leave alone.
At 31 inches across, it’s narrow enough to fit through our front door—just barely—and at 24.7 pounds, it’s lighter than our Chariot Cheetah, which weighs 26.5 pounds. It comfortably fits my two kids, but it’s worth noting that its total capacity is only 100 pounds. I’m probably only going to be able to carry both children in it for another year or so.
I might be able to use it for a little longer if I can resist packing it full of stuff. The Encore X has an awe-inspiring cargo capacity. It’s hard not to start tossing random things into the 60-liter cargo bin, like picnic blankets, tennis rackets, or dog food. You can also remove the seats to convert it to a cargo trailer.
It also comes with a one-wheel stroller conversion kit. To use it, screw the Burley hitch on your rear axle. When you want to bike, hook up the trailer hitch with by sliding in the pin and locking it; flip small front wheel up and you’re ready to go. When you want to convert it to a stroller, unhook the pin and flip the front wheel down. The transition is quick and easy, and unlike the Chariot, you don’t have to worry about finding a way to carry or store the hitch bar. Some convertible strollers, like the Thule Chariot, do have a sturdier ball-and-socket attachment in addition to a pin.
Finally, the Encore X comes with all the standard features that help make the company’s trailers so beloved among biking baby-havers: it comes with a skid guard to protect the bottom of the trailer, and the wheels have guards and are easy to switch out with the pop of a big, yellow button.
And the suspension works! I biked two kids and all their stuff on everything from dirt trails, to sand and gravel paths, and no one protested or cried (except for that one time).
Not so Burly
As a bike trailer, the Encore X is nearly perfect. For two weeks, I towed my children to and from school. A sunshade and UV-protective panels protected my kids from the sun, and the big storage container meant that I didn’t have to attach panniers to my bike rack to carry all their backpacks and jackets. I could throw in a friend’s skateboard in the back when he wanted to walk with us, or a basketball to play at the park.
When I took it on more adventurous excursions, cracks began to show. The Encore X meets ASTM F1975-09 safety standards and survived extensive drop- and crush-testing thanks to its heat-treated aluminum roll frame, but I have some concerns with its durability.
The first flaw is that the trailer’s handlebar doesn’t lock into place. When I picked up the bike trailer an inch or two to pull it around a gate or over a curb, the handlebar popped out, rotated, and plonked my children on the ground. When we had to lift the trailer over a log on the trail, my spouse and I picked the stroller up by its frame and ignored the handlebar altogether; it was just easier.
Burley assured me that you can tighten the clamp to lock the handlebar in place. However, in order to do so, you need to pop out the barrel nut that holds the handlebar in place. And if you tighten it too much, you might snap the handlebar’s cinch lever. As I pondered this conundrum, I couldn’t help but think that a sport trailer should be a little hardier than this.
I also wonder how long the Encore X will hold together. The fabric is made from tough 600-dernier polyester, but after a mere two weeks of being folded up and shoved in the back of my car, it has already started to wear through. The damage isn’t covered by the three-year warranty. Burley suggests a little Tenacious Tape might do the trick, but I’ve owned the Thule Chariot for three years and put it through similar paces, and its only signs of wear are fading from the sun.
The Thule Chariot’s accessories also just make more sense. For example, the Chariot’s two-wheel stroller kit is included in the base price, whereas with the Burley, the two wheel stroller kit is an add-on. The one-wheel stroller conversion kit might be more convenient in some ways, but I missed having two wheels. They make the stroller smaller and easier to maneuver, and I wouldn’t want to pay extra for them.
I was excited to test Burley’s sand- and gravel-riding kit, but I found that the big, fat, 16-inch tires were unnecessary. If you want to bike to the beach and push the stroller through sand, you have to buy the $149 jogger kit on top of the $199 fat tires. Without the jogger kit, the puny front tire sunk into the sand, tipping the stroller forward.
If you pick the Encore X, my advice is to skip the sand kit and stick with the ski kit for snow. Opt for the jogger kit if you want to go on sand or trails, or the two-wheel kit if you live in a city.
If you want a one-and-done bike trailer that you can also hoist over a tree root without your children screaming, my vote would still be for one of the Thule Chariots like the one I recommended in our Best Strollers guide. Still, I found it to be a surprisingly difficult decision.
The Encore X has many admirable qualities, especially if you don’t go off-roading very much. It’s lighter and narrower, with much better storage options. With a few refinements to improve its durability, and a little Tenacious Tape, I might see a lot more of these on the roads and trails this summer.
BERLIN (Reuters) – German used-car dealing platform Auto1 said it could seek a public offering in future but a 2018 cash infusion from Japan’s Softbank means it has no immediate need for extra funding of its European growth plans.
FILE PHOTO: A worker loads a second hand car on a car transporter truck at the Auto1.com company grounds in Zoerbig, Germany January 28, 2017.REUTERS/Fabrizio Bensch /File Photo
Last year’s Softbank’s deal valued Berlin-based Auto1 at 2.9 billion euros ($3.27 billion), making it one of Germany’s top so-called tech unicorns.
It is virtually unknown to consumers except through its used car buying arm Wir Kaufen dein Auto (We Buy Your Car) in Germany and similar names elsewhere. It operates from Finland to Romania to Portugal, 30 countries in all.
Revenues rose by 32 percent to 2.9 billion euros last year, and although it is profitable in Germany, investments in other markets have led to a loss on group level.
“Currently, an initial public offering is not a topic for us,” Auto1 co-founder Christian Bertermann told Reuters, adding this could change in future.
Auto1 buys cars using its vehicle pricing database to calculate an offer within minutes and then sells the vehicles on to one of its roughly 35,000 dealerships for a commission.
Its platforms helped 540,000 vehicles change hands in 2018.
The company will now also start a retail platform to compete with Scout24’s Autoscout unit or Ebay’s Mobile.de offering, Bertermann said.
He confirmed a Reuters report about Auto1’s talks with Scout24 about an acquisition of Autoscout, adding that these would not lead to a takeover.
Scout24 in February agreed to be acquired by buyout groups Hellman & Friedman and Blackstone.
Auto1 was set up in Berlin by entrepreneur Christian Bertermann after having trouble selling two old cars owned by his grandmother, along with Koc, who previously worked at Rocket Internet-backed firms Zalando and Home24.
Reporting by Nadine Schimroszik,; Writing by Arno Schuetze; Editing by Alexandra Hudson
DUBAI (Reuters) – Bahrain, headquarters of the U.S. Navy’s Fifth Fleet, plans to roll out a commercial 5G mobile network by June, partly using Huawei technology despite the United States’ concerns the Chinese telecom giant’s equipment could be used for spying.
FILE PHOTO: Logos of Huawei are pictured outside its shop in Beijing, China, February 28, 2019. REUTERS/Jason Lee/File Photo
Washington has warned countries against using Chinese technology, saying Huawei could be used by Beijing to spy on the West. China has rejected the accusations.
VIVA Bahrain, a subsidiary of Saudi Arabian state-controlled telecom STC, last month signed an agreement to use Huawei products in its 5G network, one of several Gulf telecoms firms working with the Chinese company.
“We have no concern at this stage as long as this technology is meeting our standards,” Bahrain’s Telecommunications Minister Kamal bin Ahmed Mohammed told Reuters on Tuesday when asked about U.S. concerns over Huawei technology.
The U.S. embassy in Bahrain did not immediately respond to a request for comment.
The U.S. Fifth Fleet uses its base in Bahrain, a Western-allied island state off the Saudi coast, to patrol several important shipping lanes, including near Iran.
Bahrain expects to be one of the first countries to make 5G available nationwide, Mohammed said, although he cautioned it would depend on handset and equipment availability.
Early movers like the United States, China, Japan and South Korea are just starting to roll out their 5G networks, but other regions, such as Europe, still years away and the first 5G phones are only likely to be released in the second half of this year.
Bahrain’s state controlled operator Batelco is working with Sweden’s Ericsson on its 5G network, while the country’s third telecom Zain Bahrain is yet to announce a technology provider.
No foreign company is restricted by the government from providing equipment for Bahrain’s 5G network, Mohammed said, adding that the mobile operators chose who they worked with.
Australia and New Zealand have stopped operators using Huawei equipment in their networks but the European Union is expected to ignore U.S. calls to ban the Chinese company, instead urging countries to share more data to tackle cybersecurity risks related to 5G networks.
Mohammed said the rollout of the 5G network was an “important milestone” for Bahrain, which is hoping investments in technology will help spur the economy which was hit hard by the drop in oil prices.
“It is something we are proud to have,” he said.
Reporting by Alexander Cornwell; Editing by Kirsten Donovan
As someone who’s worked with AI for the last 30 years (yes, it was a thing 30 years ago), I’ve often thought of its capabilities were overrated and used for the wrong things in many cases. Now that it’s cheap thanks to cloud computing, and much more effective thanks to the pace of innovation, AI as a solution is coming up again, including the use in cloud operations.
The idea is to replace people with AI to be both proactive and reactive to cloud operational issues such as outages, resource governance, security attacks, and performance. Cloudops involves largely repeatable problems, right?
There are of course some upsides and some downsides to this. Moreover, although the use of AI in cloud operations maybe a foregone conclusion, there will still be a learning curve that is required. As long as you understand that and know what to expect in terms of ROI for both the short term and long term, I’m okay with anything that that makes cloud operations more effective.
So, let’s look at the pros and cons.
The pros of AI for cloudops
The pros are that you can have a 7/24/365 monitoring and management program on the cheap. If you believe operational staff is expensive, try hiring them for shift work. AI-based monitoring and management systems never sleep, never take time off, and never ask for a raise. Once they are up and running, they cost almost nothing beyond their license fees and infrastructure costs. And they are self-learning at the same time; in other words, the more they run, the better that they get at the job.
Another pro is that these systems get smarter every day and share a common brain. People get smarter with experience as well, but they don’t do a good job sharing their experiences with others. People also retire and quit, with the knowledge and experience walking out the door with them.
The cons of AI for cloudops
One con is that the cost of rolling out these systems is high, even in the cloud. Vendors that have married AI and operational tools are going to charge a premium to get them up and running and in production. While the prices are all over the place, count on paying 50 percent more than for traditional tools, including consulting services for the first year or so to get the tools learning correctly.
Another con is that operations people don’t seem to like them no matter how well they perform. The number of passive-aggressive actions that I’ve seen over the years from people pushing back on AI-enabled operations tools has been huge.
They view this technology as not to be trusted, plus the fact that AI some day may displace their jobs does not make things better. Organizations that implement these tools need to have change agents, plus an understanding about the human factors with this technology.
Is the future AI-enabled cloud-operations tools? I don’t see how it won’t be. The pros will get better, and the cons will begin to diminish, like any other rollout of new technology. Hopefully, our new AI operations overlords will have mercy on us in a few years.
SAN FRANCISCO (Reuters) – A Google executive offered new details on Wednesday about the company’s upcoming video game streaming service, telling Reuters that game makers may use competing cloud providers and must avoid some inappropriate content.
Google vice president and general manager Phil Harrison speaks during a Google keynote address announcing a new video gaming streaming service named Stadia that attempts to capitalize on the company’s cloud technology and global network of data centers, at the Gaming Developers Conference in San Francisco, California, U.S., March 19, 2019. REUTERS/Stephen Lam
Google, owned by Alphabet Inc, unveiled Stadia on Tuesday, saying the service launching this year would make playing high-quality video games in an internet browser as easy as watching a movie on its YouTube service.
The game would operate on Google’s servers, receiving commands from a user’s controller and sending video streams to their screen. Player settings, leaderboards, matchmaking tools and other data related to the game would “not necessarily” have to reside on Google’s servers, Phil Harrison, a Google vice president, said in an interview.
Hosting the data elsewhere, however, could lead to slower loading times or less crisp streaming quality, he said.
“Obviously, we would want and incentivize the publisher to bring as much of their backend as possible” to Google servers, he said. “But Stadia can reach out to other public and private cloud services.”
The approach could limit Google’s revenue from Stadia. It has declined to comment on the business model for the new service, but attracting new customers to Google’s paid cloud computing program is one of Stadia’s aims.
If a game publisher was using Amazon for some tools, “the first thing I would do is introduce you to the Google Cloud team,” Harrison said.
In addition, Stadia will require games to follow content guidelines that build upon the system of Entertainment Software Rating Board (ESRB), a self-regulatory body, he said.
“We absolutely will not have A-O content,” Harrison said, referring to the ESRB’s moniker for the rare designation of a game as adult-only because of intense violence, pornography or real-money gambling.
He said Stadia’s guidelines would not be public.
Asked about growing public concerns about game addiction, Harrison said Stadia would empower parents with controls on “what you play, when you play and who you play with.”
Google views Stadia as connecting its various efforts in gaming, including selling them on its mobile app store, Harrison said. But game streaming, he said, is an opportunity to tackle among the most complex technical challenges around and potentially apply breakthroughs to other industries.
“We think we can grow a very significant games market vertical,” he said. “And by getting this right we can advance the state of the art of computing.”
SEOUL (Reuters) – Shares of South Korean chip giants jumped on Thursday after U.S. chipmaker Micron Technology Inc forecast recovery in a memory market saddled with oversupply as device demand sags.
FILE PHOTO: Memory chip parts of U.S. memory chip maker MicronTechnology are pictured at their booth at an industrial fair in Frankfurt, Germany, July 14, 2015. REUTERS/Kai Pfaffenbach
The world’s second-biggest memory chip maker, SK Hynix Inc, saw its shares surge nearly 7 percent by 0330 GMT, while technology giant Samsung Electronics Co Ltd gained 4.3 percent.
Micron said on Wednesday it saw recovery in the memory chip market, after reporting quarterly profit that beat analyst estimates as cost control helped offset falling demand and prices.
“Micron’s projection on growing memory chip demand from data center operators set up a positive outlook for the memory chip industry, helping boost shares of South Korean chipmakers,” said analyst Seo Sang-young at Kiwoom Securities.
Analysts have been wary about prospects of the memory chip market due to lower demand for smartphones and slumping investment from data center companies.
“With its plan to cut production, it seems that Micron is determined to better control oversupply problems in the chip market,” said analyst Park Sung-soon at BNK Securities.
Tech research firm TrendForce in a report on Wednesday said it expects a only a slight decline in NAND flash chip sales in the second quarter as demand recovers from smartphones, computers and servers.
“Although it won’t cause an immediate reversal of the oversupply situation, it will have a positive effect on the market environment,” analyst Ben Yeh at DRAMeXchange, a Trendforce division, said in the report.
Both Samsung Electronics and SK Hynix said in their earnings conference calls in January that they expected sales of memory products to revive in the second half of the year.
Rising chip shares helped lift the broader KOSPI stock price index by 0.3 percent.
Reporting by Heekyong Yang; Editing by Christopher Cushing
FILE PHOTO: A 3D printed Android mascot Bugdroid is seen in front of a Google logo in this illustration taken July 9, 2017. REUTERS/Dado Ruvic/Illustration
BRUSSELS (Reuters) – Alphabet’s Google will prompt Android users to choose their preferred browsers and search apps, a senior Google executive said on Tuesday, as the company seeks to allay EU antitrust concerns and ward off fresh sanctions.
The European Commission last year handed Google a record 4.34 billion euro ($4.9 billion) fine for using the market power of its mobile software to block rivals in areas such as internet browsing.
By pre-installing its Chrome browser and Google search app on Android devices, Google had an unfair advantage over its rivals, EU enforcers said.
Google will now try to ensure that Android users are aware of browsers and search engines other than its own services, Kent Walker, senior vice-president of global affairs, said in a blog.
“In the coming months, via the Play Store, we’ll start asking users of existing and new Android devices in Europe which browser and search apps they would like to use,” he wrote without providing details.
The company, which introduced a licensing fee for device makers to access its app marketplace after the EU sanction, does not plan to scrap the charge.
Google could be fined up to 5 percent of Alphabet’s average daily worldwide turnover if it fails to comply with the EU order to stop anti-competitive practices.
Reporting by Foo Yun Chee; Editing by David Goodman
PagerDuty took the next step forward to a planned IPO, joining a windfall of startups expected to go public this year. But the cloud-based software company’s debut will be an exception among the tech IPO wave—it’s one of the few enterprise companies run by a woman, CEO Jennifer Tejada.
Founded in 2009, San Francisco-based PagerDuty acts as a watchdog for technical issues. The operations management software identifies problems in real time and directs engineers to the root of the problem, an alert system that’s attracted 10,800 customers in 90 countries.
In 2018, PagerDuty scored unicorn status after a $90 million round led by T. Rowe Price Associates and Wellington Management. Its first nine months of revenue last year rose 48% from the period to $84 million. However, the company took a $34.5 million loss during that time,up $4.7 million from 2017. It didn’t reveal data on the full year.
The company’s institutional investors own more than half of its shares, including early investor, Andreessen Horowitz, which owns the largest share of the company at 18.4%, followed by Accel and Bessemer Venture Partners. PagerDuty’s cofounders, Baskar Puvanathasan, Andrew Miklas and Alex Solomon, each hold 7.1%.
PagerDuty landed a spot in the top 50 on the Forbes Cloud 100 list in 2017, just a year after Tejada took over as CEO. “It was a neat brand, even though it’s a small company,” Tejada told Forbes back in July 2016. Tejada owns over four million shares of the company.