Tuesday, May 3, 2022
Elon Musk launches $43 billion hostile takeover of Twitter
Elon Musk will pay
$54.20 per share in cash, representing a 54 per cent premium over the Jan 28
closing price and a value of about $43 billion
April 14, 2022 by
Bloomberg
Elon Musk has made a
“best and final” offer to buy Twitter Inc., saying the company has
extraordinary potential and he will unlock it.
The world’s richest man
will pay $54.20 per share in cash, representing a 54 per cent premium over the
Jan 28 closing price and a value of about $43 billion. The social media
company’s shares soared 18 per cent.
Musk, 50, announced the
offer in a filing with the U.S. Securities and Exchange Commission on Thursday.
The billionaire, who also controls Tesla Inc., first disclosed a stake of about
9 per cent on April 4.
The executive is one of
Twitter’s most-watched firebrands, often tweeting out memes and taunts to @
Elon Musk’s more than 80 million followers.
He has been outspoken
about changes he’d like to consider imposing at the social media platform, and
the company offered him a seat on the board following the announcement of his
stake, which made him the largest individual shareholder.
After his stake became
public, Musk immediately began appealing to fellow users about prospective
moves, from turning Twitter’s San Francisco headquarters into a homeless
shelter and adding an edit button for tweets to granting automatic verification
marks to premium users.
Monday, May 2, 2022
Why Are People Looking for Green Pastures?
People work for money but go the extra mile for recognition, praise and
rewards."
Introduction:
In 2021, as some of the uncertainty abated a record number of workers
started quitting their jobs creating the so-called Great Resignation. The
“Great Resignation”, coined & predicted by Psychologist Anthony Klotz, is
the tipping point of a nearly decade-long trend of employment
dissatisfaction. And these people have left their jobs in search of more
fulfilling roles with greater flexibility – it's been called the Great
Reshuffle.
What’s the Issue?
India’s second-largest IT services company Infosys announced its
fourth-quarter results ending on March 31, for the financial year 2022. And it
shows over 80,000 employees have resigned from the company between Jan-March
2022. Infosys is reportedly invoking the non-compete clause in the employment
agreements to curb attrition. The non-compete clause bans its employees from
joining a few companies & to work for the same customers with whom they had
worked at the company for the last 12 months. However, on-compete clauses are
not valid in India as per Sec 27 of the Indian Contract Act, which states that
any agreement that restrains anyone from practicing a lawful profession, trade
or business is to that extent void. In an era where organizations like Meesho
and Zerodha are going fully remote, and many others are spending more time,
value, and effort on employee benefit programs, a move like this will only
contribute to more attrition.
Today, employees are burned out, unengaged, and eager to explore new
opportunities. And to retain staff amid this mass turnover, companies are
offering significant salary hikes, generous vacation time & unique
benefits. While these perks might have worked earlier, they are not enough
anymore. So, what needs to be done to engage & retain the
workforce?
Employee Recognition
To answer this increasingly Googled question, Achievers
Workforce Institute surveyed more than 4,200 employees and 1,600 HR
leaders across the globe in February. After digging through the diversified
data set, AWI's team of behavioural research scientists found the key in just
two words: employee recognition. According to the survey results
published in Achievers' 2022 State of Recognition Report:
1. Thank You no enough:
Employee Recognition leads to better engagement, higher retention, &
increased productivity.65% of the respondents admitted that feeling recognized
would reduce their desire to job hunt. A mere thank you may not be enough.
Employees want to know whether they could make a difference.
2. It's about camaraderie, not compensation
The data highlights that recognition actually outweighs the perception
of a fair salary as a driver of employee advocacy, job commitment, and productivity.
3. Most managers aren't trained to recognize top talent
Research by Harvard, MIT, and other schools discovered that soft skills
training in topics such as problem-solving and communication improved
productivity and retention by 12 %, with a 250 % ROI in under a year. Most
managers don’t know how to make frequent conversations meaningful. As managers
are leading teams from the front, it's vital they acquire the soft skills to
properly recognize employees in the remote era. While 90%t of HR leaders say
they offer recognition training, only 41 % of employees say they've received it
& only one-third of those trained were instructed on how to send a
meaningful recognition. This shows the disconnect & calls for regular
training on recognition best practices.
Conclusion
Recognition helps employees see that their company values them and their
contributions to the success of their team and the company overall. Most
importantly, frequency and timing of recognition along with ensuring it is
value-based and specific. This is particularly key when organizations grow or
change. It helps employees build a sense of security in their value to the
company, motivating them to continue great work. No matter the route taken,
ensuring employee recognition should be the core part of a
company’s DNA that will improve retention.
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