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Cal/OSHA Publishes Draft Workplace Violence Prevention Standard With Additional Proposed Requirements

Quick Hits Cal/OSHA released a revised discussion draft of a proposed workplace violence prevention standard for general industry (non-healthcare settings). The draft proposal includes definitions of engineering controls and work practice controls, and it would require employers to communicate with “authorized employee representatives” and employees regarding workplace violence matters. Comments on the proposed standard are due by September 3, 2024, and an advisory committee hearing will be scheduled later this…

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The Application of Personal Goodwill in Accounting Firm Deals

Accounting firm deals often involve complex tax issues, and it is important to understand their implications. If you have any questions on this article, please do not hesitate to reach out to the author or Russell Shapiro, who leads LP’s Accounting Firm Practice. As part of our ongoing series on tax issues for accounting firm transactions, this article discusses the benefits of utilizing personal goodwill in accounting firm M&A deals when appropriate. Personal…

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Federal Court Permanently Blocks Florida Restrictions on Workplace Diversity Training

Quick Hits The U.S. District Court for the Northern District of Florida recently upheld an injunction against part of Florida’s Individual Freedom Act, also known as the Stop WOKE Act, which regulated the types of content that employers could include in employee training. The court found that a section of the law was unconstitutional because it violated employers’ First Amendment rights to free speech. Florida cannot enforce the part of…

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How to boost your composure and reduce investing FOMO

Have you ever invested due to a fear of missing out (FOMO)? Fearing that you’ll overlook the next big opportunity to grow your wealth might lead you to take on more risk or increase your exposure to a particular area or sector. Read on to find out how to boost your composure next time you’re facing investing FOMO. FOMO started as a term for the dismay you might feel if…

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Standard Contract Waiver Analysis Applies to Arbitration Agreements

Seyfarth Synopsis: The California Supreme Court reaffirmed that arbitration agreements are on equal footing with other types of contracts. Therefore, a court should apply the same principles that apply to other contracts to determine whether the party seeking to enforce an arbitration agreement has waived its right to do so. Quach v. California Commerce Club, Inc. The Facts In 2018, following his termination, Peter Quach sued his former employer, California…

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What Can Employers in Mexico Expect on Labor and Employment Matters in President Sheinbaum’s Administration?

Quick Hits Claudia Sheinbaum—the first woman to be elected president of Mexico—will begin her term of office on October 1, 2024. President-elect Sheinbaum has appointed Marath Baruch Bolaños Lopez to be Secretary of Labor and Social Welfare and a member of her cabinet. President-elect Sheinbaum’s labor and employment agenda includes, among other things, proposals to increase minimum wage rates and amend the Federal Labor Law to classify delivery app workers…

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3 in 5 homeowners are considering using equity release to fund their retirement plans

Homeowners worried they could face a financial shortfall in retirement are already considering using their property wealth to fund their plans. While equity release could provide a capital injection to reach retirement goals, it’s important to weigh up the pros and cons first. According to a survey conducted by the Equity Release Council (ERC), 3 in 5 homeowners are interested in releasing money from their property later in life. Indeed,…

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Fire and Re-hire: New Code of Practice comes into Force 

There are many reasons why an employer may wish to change the terms of an employment contract. However, where the change is unfavourable to the employee, particularly in relation to pay or benefits, the employee in question might not give their consent to the proposals. If the issue cannot be solved by negotiation, an employer can terminate the existing contract and offer the employee a new one. This is a…

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A clear-eyed view of gen AI for the private equity industry

In this episode of Deal Volume, McKinsey’s podcast on private markets, McKinsey partner and host Brian Vickery speaks with senior partner Ben Ellencweig. Ben leads alliances and partnerships for QuantumBlack, AI by McKinsey, and spends much of his time working with private equity (PE) firms and their portfolio companies. In this discussion, they get beyond the hype surrounding generative AI (gen AI) and discuss its implications for PE stakeholders. An edited…

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Healthy organizations keep winning, but the rules are changing fast

Organizational health is a moving target. Leaders at today’s healthiest organizations don’t run them the same way that the C-suite did in 2003, when McKinsey launched the Organizational Health Index (OHI).We created the index to help organizations gain vital insights into whether they have the right practices in place to drive sustained performance. In the two decades since then, OHI research has consistently shown that the best predictor of long-term performance…

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August 2024 Global Immigration Alert

Please note:  while we address certain country-specific updates, this Alert contains information regarding global requirements, policies, and procedures as they stand as of the date of publication. We highly recommend reviewing any global mobility inquiries on a case-by-case basis, including any consulate-specific or immigration authority resources, in “real-time” before traveling internationally. Please reach out to our Global Mobility Team in advance of any international travel. Canada –  Express Entry and…

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How a Mission to Cut Food Waste Launched a Multimillion-Dollar Venture

On a hectic Friday in October 2016, Josh Domingues wondered if he had made a mistake quitting the security of a well-paying job managing contracts for professional hockey players to start a new venture selling nearly expired groceries at discount prices. After all, a trial run of the 27-year-old entrepreneur’s Flashfood app at a Toronto supermarket hadn’t gone well, ending with confusion among customers and ire from the store manager.But…

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Research: Lifestyle changes could relieve the symptoms of Alzheimer’s

If you know anyone who has suffered from dementia, you will understand what a cruel illness it can be. From forgetting simple things to aspects of your loved one’s personality changing, dementia can completely transform a person you thought you knew. However, as you might’ve seen in the news, new advancements in dementia treatments could help to diagnose and treat the illness more effectively than ever before. Read on to…

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New Outlook for Windows now generally available for commercial customers

We are excited to announce the new Outlook for Windows is now generally available for commercial customers and will now receive full support from Microsoft's support channels, including Assisted Support! The new Outlook for Windows combines rich productivity features and the latest innovations: Enjoy a familiar, more productive, and seamless way to work. The evolution of the new Outlook for Windows is a collaborative effort, shaped by the voices, experiences, and feedback…

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Reimagining labor to close the expanding US semiconductor talent gap

As McKinsey has written previously, public and private investments to rapidly expand the United States semiconductor industry will total more than $250 billion by 2032. This investment brings with it more than 160,000 new job openings in engineering and technician support alongside additional openings in related construction craft jobs, according to McKinsey analysis. While numerous initiatives aimed at building these critical talent pipelines are planned or under way, the expected…

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Why Your Business Needs Data Privacy Consultants

Trust is a valuable commodity in the business world. When customers trust that their data is safe, they are more likely to remain loyal and even recommend your services to others. Data privacy  consultants help businesses create robust privacy policies that reassure customers their information is in safe hands.   What Do Data Privacy Consultants Do? Data privacy consultants are experts who specialize in safeguarding a company’s data. Their primary…

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Strategy Execution VS Strategy Implementation

To successfully transform your organization digitally, you must have a clear understanding of both strategy execution and strategy implementation. Often organizations will confuse Strategy Execution – the act of identifying and designing its strategy and the portfolio of projects necessary to realize that strategy – with Strategy Implementation – the act of actually spinning up and running […] The post Strategy Execution vs. Strategy Implementation: What Are the Differences? appeared first on Accelare.

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Trump Is Already Rattling the Stock Market

Former President Donald Trump has long regarded the stock market as a barometer for success, constantly touting record highs during his time in office and still bragging incessantly about the “beautiful” stock market on his watch. However, what many commentators miss is not just the 40 record highs the stock market has hit under the Biden-Harris administration—but also that while Trump does hold significant sway over pockets of the stock…

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A Year After the Summit: Development of Russian-African Cooperation

The Second Russian-African Conference of the Valdai Discussion Club was held at a high academic level and aroused wide media interest both in Russia and Tanzania. The African participants of the conference expressed a strong interest in continuing this work. In late July 2024, the Valdai Discussion Club held its Second Russian-African Conference. A year ago, ahead of the Russia-Africa Summit, the club organised the first conference of this kind…

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Seven Reasons to Strengthen Your Customer Benefits Focus

Neil Webb/Ikon Images Harvard Business School professor Theodore Leavitt emphasized the customer impact of benefits when he famously argued that people don’t want to buy a quarter-inch drill; they want a quarter-inch hole.1 Although his idea is straightforward, many companies still fail to appreciate how embracing a benefits-driven approach can help them unlock new opportunities — for innovation, customer satisfaction, and sustainable growth. Benefits are the desirable outcomes that customers…

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Michigan Supreme Court Reinstates Voter-Initiated Versions of State’s Paid Sick Leave and Minimum Wage Laws

Quick Hits On July 31, 2024, the Michigan Supreme Court, in a 4–3 decision, ruled that the Michigan Legislature violated the Michigan Constitution in 2018 by adopting voter-initiated laws and later amending the previously adopted laws in the same legislative session. The high court’s ruling reinstates the 2018 voter-initiated versions of the Earned Sick Time Act, which generally provides for more paid sick leave time and requires smaller employers that…

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Protect your school: Microsoft now offers multifactor authentication without a phone

Traditional passwords are increasingly vulnerable, leading to potential security breaches. Fortunately, there’s a promising development—Microsoft offers multifactor authentication (MFA) without a smartphone using secure, passwordless device access. As we look ahead to the upcoming school year in many places across the northern hemisphere, educational institutions face a daunting security landscape. The education sector regularly makes up over 80% of the reported malware encounters in any 30-day period. Traditional passwords are…

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As Sir Ian McKellen pulls out of theatre tour, who is the “understudy” for your finances?

Sir Ian McKellen recently stepped down from his role in the West End theatre show, Player Kings, a modern retelling of Shakespeare’s Henry IV, after a serious accident during the play. The legendary actor was performing a fight scene when he lost his footing and fell from the stage. Theatre staff and two medically trained audience members rushed to help him, and he was subsequently taken to hospital. The following…

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The rise, fall and revival of research on human development

Analysing the past sheds light on the present resurgence of research on human development. That’s the lesson of a new study by Professor Nick Hopwood, from the Department of History and Philosophy of Science, that is published in the Journal of the History of Biology. The paper discusses the flourishing of human embryology a century ago, its drop in popularity after World War II, and especially its revival since the…

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Five differentiators of outperforming family-owned businesses in India

The central role that family plays in the lives of Indians cannot be overemphasized. This is just as true in business. In India, family-owned businesses (FOBs) contribute more than 75 percent of national GDP, one of the highest percentages in the world, and this is likely to rise to 80 to 85 percent by 2047. McKinsey research reveals that, from 2017 to 2022, FOBs reported around 2.3 percent higher revenue…

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The Common Strategic Vision: The Reaction of Russia, the DPRK and the PRC to the Results of the NATO Summit in Washington

The reaction of Moscow, Pyongyang and Beijing, voiced essentially in unison by states which are organisationally independent and despite the lack of any special coordination on their part, is not only not accidental, it is quite natural: it reflects a common or very similar vision of strategic threats and challenges to their own national security both in the East Asian region and in the world as a whole, Alexander Vorontsov…

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The Iberian green industrial opportunity: Biomethane

The European Union (EU) has set ambitious decarbonization goals for all member states: at least a 55 percent greenhouse gas (GHG) emissions reduction target by 2030 compared to 1990 levels, and at least a 42.5 percent—although aiming for 45 percent—share of renewable energy consumption based on the Renewable Energy Directive III (RED III). To achieve these targets, major changes are required in Spain’s energy consumption. Alongside other levers such as…

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Hybrid Work: How Leaders Build In-Person Moments That Matter

Topics Column Our expert columnists offer opinion and analysis on important issues facing modern businesses and managers. More in this series subscribe-icon Subscribe Share Carolyn Geason-Beissel/MIT SMR | Getty Images As hybrid work programs continue to grow in popularity and full-time office work declines, many leaders and companies are still struggling with a tough question: What are the right patterns for getting people together? Free-for-all approaches that depend on individuals…

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New Louisiana Laws on Tort Actions, Meal Breaks, Arbitration Agreements, and Nondisclosure Agreements Take Effect in July and August 2024

Quick Hits Louisiana’s statute of limitations for employment-related tort actions has been doubled to two years from the day an injury or damage is sustained. The law took effect on July 1, 2024, and is prospective only. Employers must provide breaks to workers under sixteen years of age whose shifts last five hours or more. Employers are prohibited from requiring predispute arbitration pacts for sexual harassment. New Two-Year Statute of…

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Microsoft bringing Azure AI industry leading models to GitHub community of 100 million+

We are excited to partner with GitHub to empower their more than 100 million developers to build AI applications directly from GitHub.com with seamless integrations with Codespaces and Microsoft Visual Studio Code. Microsoft is empowering developers to become AI developers, bringing Azure AI industry leading models to the global GitHub community of more than 100 million More than 60,000 organizations use Microsoft Azure AI today to explore the power of custom AI…

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Could “lifestyle creep” affect your retirement plans?

When you received your last promotion or pay rise, your first instinct might have been to celebrate by splashing out on a new gadget, booking a holiday or allocating more of your money to your disposable income. However, if you overlook reviewing your finances, “lifestyle creep” could affect your ability to reach long-term goals, including your retirement plans. Lifestyle creep leads to your regular expenses rising Lifestyle creep refers to…

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Opportunity@Work: Addressing the opportunity gap and improving workforce equity outcomes

In the fifth installment of the McKinsey Action 9 Fireside Chat series, McKinsey partner Darius Bates chats with Byron Auguste, cofounder and CEO of Opportunity@Work, to discuss how the organization is changing the talent marketplace to enable workers, who are skilled through alternative routes (STARs) rather than four-year college degrees, to access higher-paying jobs. They are joined by McKinsey partner Carolyn Pierce, who leads McKinsey’s collaboration with Opportunity@Work. Here are…

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How pro athletes handle stress

In recent years, the intense pressure professional athletes endure has come under scrutiny, highlighted by incidents like gymnast Simone Biles withdrawing from the 2020 Tokyo Olympics and tennis player Naomi Osaka stepping back from the French Open, both citing mental health reasons. As Biles told reporters at the time, “Whenever you get in a high-stress situation, you kind of freak out,” adding: “It just sucks when you’re fighting with your…

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How Scotiabank Built an Ethical, Engaged AI Culture

Topics Column Our expert columnists offer opinion and analysis on important issues facing modern businesses and managers. More in this series subscribe-icon Subscribe Share Carolyn Geason-Beissel/MIT SMR | Getty Images What does it take to produce an award-winning AI initiative? Scotiabank — officially the Bank of Nova Scotia, and one of Canada’s largest banks — recently won two awards for AI at one event. DataIQ gave the bank a Most…

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The King’s Speech—The Key Employment Implications

Quick Hits The King’s Speech of 17 July 2024 detailed the UK government’s upcoming priorities and proposals. This includes the Employment Rights Bill and draft Equality (Race and Disability) Bill. Among the proposed policies were several significant employment-related bills, and we have set out below the key proposals. If enacted, together these proposals would constitute the most significant reform in UK employment legislation in decades. We set out the key…

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Why taking your pension as a lump sum could leave you with a huge tax bill

Taking a lump sum out of your pension could provide you with more financial freedom. Yet, it could also land you with a large and unexpected tax bill. Read on to find out what you need to know about tax and withdrawing lump sums from your pension. Your pension withdrawals may be liable for Income Tax You can take up to 25% (up to a maximum of £268,275 in 2024/25)…

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Technological Cooperation Between Russia and African Countries

Cooperation between Russia and African countries in the field of cloud technologies seems quite promising. The fact is that in Africa there is a great need for such cloud technology solutions, since today many government agencies in African countries are forced, for the most part, to use Google’s cloud services, which do not guarantee data confidentiality, in order to organise effective collaboration with files and documents. In this regard, an…

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Out of Sight, Not Out of Mind: Employee Disengagement in Remote Work (And 5 Strategies to Overcome it)

Remote work is here to stay and has completely changed how we do our jobs. While offering the flexibility and convenience that many employees love, it also brings its challenges. One of the biggest could be employee disengagement.  Since this is a hot topic online, we thought we’d dive into it.  Gallup’s 2024 research report states that fully remote workers are more lonely than those fully on-site (25% versus 16%,…

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How to Become a Better Ally: Three Priorities for Leaders

Nick Purser/Ikon Images Recent pushback against diversity, equity, and inclusion (DEI) initiatives has caused many leaders to focus on the broader topic of allyship. These leaders want to be better allies and encourage their teams to do the same. In politically charged environments, however, leaders may find the mountain of advice on how to be an effective ally conflicting, confusing, polarizing, or overwhelming to apply. Without a clear decision-making framework,…

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