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.
MOSCOW (Reuters) – Russia’s communications watchdog threatened on Thursday to block access to popular VPN-services which allow users to gain access to websites which have been outlawed by Moscow.
Russia has introduced tougher internet laws, requiring search engines to delete some results, messaging services to share encryption keys with security services and social networks to store users’ personal data on servers within the country.
But VPN (virtual private network) services can allow users to establish secure internet connections and reach websites which have been banned or blocked.
Russia’s communications regulator Roskomnadzor said it had asked the owners of 10 VPN services to join a state IT system that contains a registry of banned websites.
If the VPN services link to the system, their users would not be able to reach websites which had been blocked or be able to use the banned Telegram messenger service.
The internet censor said that it had sent notifications to NordVPN, Hide My Ass!, Hola VPN, Openvpn, VyprVPN, ExpressVPN, TorGuard, IPVanish, Kaspersky Secure Connection and VPN Unlimited, giving them a month to reply.
“In the cases of non-compliance with the obligations stipulated by the law, Roskomnadzor may decide to restrict access to a VPN service,” the watchdog said in a statement.
Reporting by Anton Zverev. Writing by Andrey Kuzmin; Editing by Alexander Smith
“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
(Reuters) – U.S. chipmaker Micron Technology Inc on Wednesday said it sees a recovery in the memory chip market coming and reported a quarterly profit that beat estimates as cost controls helped offset falling demand and prices, sending its shares up nearly 5 percent.
The logo of U.S. memory chip maker MicronTechnology is pictured at their booth at an industrial fair in Frankfurt, Germany, July 14, 2015. REUTERS/Kai Pfaffenbach
Micron makes NAND storage chips that are used in phones and internet servers as well as DRAM chips that help computer processors communicate with those storage chips.
The company beat revenue expectations for the fiscal second quarter ended Feb. 28. Although it gave a forecast for its fiscal third quarter that was below Wall Street’s expectations, Micron said demand is likely to begin growing again by its fourth quarter.
The results come against the backdrop of a glut in the global semiconductor industry triggered by waning demand for smartphones and spotty purchasing patterns by cloud-computing vendors, which hurt chipmakers such as Intel Corp earlier this year.
Meantime, Micron trimmed its spending plans and said it had idled some factory lines to bring its chip output in line with lower demand, helping keep profits flowing and a share buyback plan on track.
For its fiscal second quarter, Micron generated nearly $1 billion in free cash flow and a profit of $1.71 per share, excluding items. That was down from $2.82 a year earlier but above Wall Street expectations of $1.67, according to IBES data from Refinitiv.
“Certainly Micron has not been in a situation before where it’s been able to deliver such healthy profitability and cash flow in an adverse industry environment,” Chief Executive Sanjay Mehrotra said in an interview with Reuters.
Kinngai Chan, an analyst with Summit Insights Group, said investors were focusing on the outlook for a recovery in the second half of the calendar year, with the fiscal third quarter forecast representing “the bottom for Micron’s near-term sales and gross margin.”
The Boise, Idaho-based company said on Wednesday it expects revenue between $4.6 billion and $5 billion for its fiscal third quarter, falling short of analyst expectations of $5.3 billion according to IBES data from Refinitiv. The company cut planned capital expenditures for the 2019 fiscal year to $9 billion, Micron executives said, down from a previous forecast of between $9 billion and $9.5 billion.
Revenue fell to $5.84 billion from $7.35 billion, beating expectations of $5.3 billion.
The company said it bought back 21 million shares of its common stock for $702 million during the quarter as part of its $10 billion share buyback program, leaving a net cash position of $2.99 billion.
Reporting by Sayanti Chakraborty in Bengaluru and Stephen Nellis in San Francisco; editing by Sriraj Kalluvila and Leslie Adler
Techno-optimist prognosticators will tell you that driverless trucks are just around the corner. They will also gently tell you—always gently—that yes, truck driving, a job that nearly 3.7 million Americans perform today is perhaps on the brink of extinction. At the very least, on the brink of uncomfortable change.
A startup called Peloton Technology sees the future a bit differently. Based in Mountain View, California, the eight-year-old company has a plan to broadly commercialize a partially automated truck technology called platooning. It would still depend on drivers sitting in front of a steering wheel but it would be more fuel efficient and, hopefully, safer than truck-based transportation today.
The company employs ten professional truck drivers to help refine its tech, and I’m about to meet two of them out on Peloton’s test track in California’s Central Valley. Michael Perkins is tall, thin, and has been driving very big trucks for about 20 years. Jake Gregory is shorter and picked up truck driving in college, before taking a detour to the FBI.
We hit the highway first, because the rain has suddenly cleared. (Here’s an unfortunate reality about Peloton’s driver assistance tech: It doesn’t work great in the rain. Or snow. It’s a safety issue. More on that later.) Out on Interstate-5, Perkins’ long, white semitrailer cruises along in front of me. I’m on board the second, identical truck behind it, with Gregory behind the wheel. A small screen mounted on Gregory’s dashboard shows a camera view of what’s happening in front of Perkins’ rig. It’s like their trucks are connected. Which, in fact, they are about to be.
Perkins radios in that he’s ready to go; Gregory says he is too. Inside the two truck cabs, each driver hits a button. Three ascending tones—la, la, la—means Peloton’s automated system has authorized the trucks to platoon on this stretch of highway. A dedicated short range communications (DSRC) connection is now established between the two vehicles. It’s like WiFi but faster and easier to secure. Now, whatever the front truck does, the back truck in will near-simultaneously “know”—and react accordingly.
Then Gregory speeds up, pulling his truck up so it’s tailgating about 70 feet from the leader. Sounds risky! But right now, the two trucks are platooning. Ours is on a kind of hopped-up cruise control, which means Gregory’s feet aren’t actually controlling the brakes or accelerator. At the same time, Gregory maintains control of his steering wheel. If Perkins were to brake, hard, Gregory’s truck would, too, faster than a human could. The robots have taken over. Kind of? Not really? More like, they’re collaborating, with some human oversight.
Peloton’s name, a reference to bicycle racing, helps explain how this platooning works. Just as the riders in the peloton, or main group of racing cyclists, preserve energy by drafting off of those around them, the following trucks in the truck platoon reduce their aerodynamic drag by drafting off the ones in front of it. The lead truck, meanwhile, get a little push. This saves fuel, according to Pelton—up to 10 percent for the following car and 4.5 percent for the first one, depending on the road and weather conditions and the following distance. It might also prevent crashes, since this tech has much faster reaction times (about 30 milliseconds) than puny humans (about 1 to 1.5 seconds).
Other companies in Europe, China, Japan, and Singapore are seriously experimenting with truck platooning. The American military has hosted platooning demonstrations. Just this week, the US Department of Transportation gave out $1.5 million in grants to universities studying the tech. And Peloton has tested in a bunch of US states: Arizona, California, Michigan, Florida, and Texas, where Peloton has immediate plans to run the majority of its routes.
Right now, the company says it does have paying customers, though it won’t reveal their names until later this year. According to Josh Switkes, the company’s CEO, some pair of US truck drivers are running a route while platooning on a Peloton-enabled truck every day.
And testing continues, on the software in its office, on its test track, and on actual highways, where it confirms the technology’s reliability. “The highway or field is not for testing,” Switkes says. “The goal of testing is to find failures, and you don’t want those failures to be on public roads.” In a report released today, the company lays out this approach to safety for regulators and interested industry parties alike. It borrow from automotive processes more than Silicon Valley-style software ones, amounting to something like, easy does it.
It turns out, the linking-up move Perkins and Gregory just performed on I-5 is one of the most safety-critical parts of truck platooning, says Switkes. The moment when the following truck has to move faster than the one in front of it is the most dangerous part.
To make sure drivers like Perkins and Gregory don’t crash into each other, or anyone else, Peloton needs to make sure that the platooning drivers know how the tech works. (Right now, the company’s driver training process takes about a half a day.) It also needs to understand exactly how heavy the trucks are when they start platooning, how their brakes are working, and how their tires function. For this reason, the company says, it has carved out partnerships with its suppliers, which means its trucks are built from the ground up with platooning in mind.
This is also why Peloton doesn’t platoon in the rain right now, or in the snow: The company can’t yet gauge exactly how tires deteriorate over time, which means it can’t quite predict how they’ll react in a hard-braking situation. Worn tires might slide in the moisture, leading to a domino chain of truck crashes. So no platooning in the Midwest in the winter, or anywhere during a rainy spring. “On certain routes, it’s a significant limitation,” says Switkes. “But we’re erring on the side of safety.”
And if that seems a little dull, Switkes would tell you that’s the point. His favorite word is “pragmatic,” and he doesn’t believe driverless trucks will prowl the highways any time soon. The technology is too complicated, he argues, and developers will have to go through years of safety testing before they’re ready for the roads—and before the public feels safe riding in their own bitty cars around 50,000-pound robot trucks. So Peloton is going all in on making human-based driving both safer and more efficient. With a bit of tech boost.
Not all manufacturers agree: In January, Daimler announced it would stop its platooning development to focus on autonomous trucking. Tests showed that “fuel savings, even in perfect platooning conditions, are less than expected,” the German company wrote in a press release. “At least for U.S. long-distance applications, analysis currently shows no business case for customers driving platoons with new, highly aerodynamic trucks.”
Platooning advocates disagree, but even the most supportive believe finding a market for this trucker assistance isn’t simple. Steven Shladover is researcher with the California Partners for Advanced Transportation Technology program at UC Berkeley. He has studied platooning for two decades, and points out that the truck industry would need to execute a fair bit of choreography to pull off platooning. Fleet operators would have to coordinate deliveries, matching up trucks heading in the same direction at the same time. “Does the truck industry see enough of a benefit in platooning to fit it into their operational strategies?” he says.
While everyone in trucking waits to find out, Perkins and Gregory head back to Peloton’s test track and proceed to show off a few, freakier moves: some hard braking, some driving side-by-side to prove that the trucks can still “talk” to each other in that position. At one point, another company employee in a white Toyota Tundra cuts into the 55-foot space between the two trucks, and they smoothly part to make room for him. Maybe platooning will improve life for truckers—too bad it can’t fix the problem of everyday reckless drivers, too.
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.
(Reuters) – U.S. federal prosecutors are conducting a criminal investigation into data deals Facebook Inc struck with some of the world’s largest technology companies, the New York Times reported on Wednesday.
A grand jury in New York has subpoenaed records from at least two prominent makers of smartphones and other devices, the newspaper reported, citing people familiar with the requests and without naming the companies.
Both companies are among the more than 150, including Amazon.com Inc, Apple Inc and Microsoft Corp, that have entered into partnerships with Facebook for access to the personal information of hundreds of millions of its users, according to the report.
Facebook is facing a slew of lawsuits and regulatory inquiries over its privacy practices, including ongoing investigations by the U.S. Federal Trade Commission, the Securities and Exchange Commission and two state agencies in New York.
In addition to looking at the data deals, the probes focus on disclosures that the company shared the user data of 87 million people with Cambridge Analytica, a British consulting firm that worked with U.S. President Donald Trump’s campaign.
Facebook said it was cooperating with investigators in multiple federal probes, without addressing the grand jury inquiry specifically.
“We’ve provided public testimony, answered questions, and pledged that we will continue to do so,” Facebook said in a statement.
Facebook has defended the data-sharing deals, first reported in December, saying none of the partnerships gave companies access to information without people’s permission.
A spokesman for the United States attorney’s office for the Eastern District of New York, which The New York Times reported is overseeing the inquiry, said he could not confirm or deny the probe.
Reporting by Ismail Shakil in Bengaluru and Katie Paul in San Francisco; Editing by Richard Chang and Leslie Adler