Here is this week’s edition of the CxO newsletter, which every Tuesday brings leaders the news, analysis and advice they need to navigate the ever changing corporate world. Click here to get on the newsletter list.
H
ello, and welcome to another edition of the CxO newsletter.
When I joined Forbes in 2015, I did so in the most entry-level role on the team for which I now serve as deputy editor. If someone had told me on my first day that this would be my fate, I’d have not believed them, not even for a second. After all, what did I—two years out of college, fresh from a gig at a parenting publication—know about leadership? At the time, not a single thing. But over the more than seven years since, that has, of course, changed in every possible way.
During my time at Forbes, I’ve had the opportunity to explore all aspects of leadership. I’ve chronicled the biggest career crashes and CEO departures. I’ve covered America’s best employers—for women, new grads and more—and most questionable manager. I’ve challenged readers to take their careers to new heights and profiled the executives who’ve done just that. I’ve reported on the ways in which the workforce and C-suite have been transformed, and on the tech—like Humu and Jobcase, a social media job-search platform for blue-collar and service-industry workers—that has paved the way. I’ve worked on countless lists, including Forbes’ 30 Under 30 franchise, and have appeared in many an inbox via the Careers, limited-edition Working Remote and, of course, CxO newsletters.
You may be wondering why I’ve taken you on this walk down memory lane. Well, for you this may be just another edition of the CxO newsletter, but for me, it’s the final edition I’ll pen. I’m pursuing a new opportunity that will enable me to explore even more aspects of leadership, and for that I am so excited.
Thank you, my dear readers, for joining me on this journey. You’ve made writing this newsletter—and all else that I’ve had the honor to pursue at Forbes—worthwhile. For more on my next step, feel free to follow me on Twitter and LinkedIn. And for more on the news, analysis and advice you need to lead in this ever-changing world, stay tuned.
What’s Next
It's OOO Season: The sun is shining, the weather is warming and the unofficial start to summer is just days away. Are you taking time off? Are your employees? As my colleague Jena McGregor reports, even the Masters of the Universe are taking a break. Just last week an internal memo from Goldman Sachs revealed its partners and managing directors will now enjoy unlimited PTO, and all employees, regardless of rank, will be expected to take at least three weeks off starting next year. But Goldman isn’t the only company with such a mandate: PwC, for example, has added to its corporate calendar a week-long, company-wide shut down in July. It has also introduced new tech that will enable managers to more easily see who has, and has not, taken their days—and nudge them to do so as needed. That latter piece is crucial. All the vacation time in the world means nothing if employees aren’t encouraged, or even expected, to take it. So don’t just give your team time off—mandate that they use it, and lead by example.
Two Years Later: Over the course of the past two years, countless leaders have invoked the name of George Floyd in calling for racial equity for Black Americans. They’ve committed billions of dollars to initiatives to recruit and elevate Black talent, invest in Black-owned businesses and promote equity in everything from policymaking to policing. But as For(bes) The Culture’s Jared Council reports, little progress has been made in outcomes for Black lives and livelihoods. In an effort to capture the reality of being Black in America, Council, along with several of our colleagues from throughout the Forbes newsroom, checked in with leaders from the community. Read on for their reflections.
What Goes Up: New unemployment claims unexpectedly rose for the third week in a row, the Labor Department reported Thursday, leading experts to wonder if broader economic turmoil might spell trouble for what’s been a white-hot labor market. About 218,000 people filed initial jobless claims in the week ending May 14, up 21,000 from the previous week and more than economists had anticipated. As Forbes’ Jonathan Ponciano reports, recent weeks have seen corporate giants including Amazon and Walmart pump the brakes on hiring following pandemic-fueled sprees. Meanwhile, venture-backed startups have already been hit by a wave of layoffs. Here’s what you need to know.
By The Numbers
95%
The percentage of people who expect companies to act in response to unprovoked invasions of countries in which they have business interests, according to the latest Edelman Trust Barometer. Yesterday Starbucks became the latest company to announce plans to cut ties with Russia over its invasion of Ukraine.
The CxO Profile
Tope Awotona
JAMEL TOPPIN FOR FORBESNigeria-Born Tope Awotona Poured His Life Savings Into Calendly—Now He’s One Of America’s Wealthiest Immigrants
In case you missed it, there’s no time like the present to read my colleague Amy Feldman’s feature on Calendly. Its founder and CEO, Tope Awotona, built the scheduling app out of pure frustration. Nearly a decade later, it’s worth $3 billion—and this past winter was the subject of a heated Twitter spat among Silicon Valley elite.
