Happy Friday everyone! Here are some Hot Topics that caught my attention this week.
Hot Topic 1: Modern Coaching for New Leaders.
Source: Forbes, Susan Galer.
What it’s About: Forbes published an interesting article featuring a leadership coaching platform called Sounding Board. The startup uses a proprietary “Sound Coaching” methodology, assigning coaches (trained contractors) to executives, based on a six-point matching process. According to the company, Sounding Board has a 95 percent success rate on first matches to date. The method also collects feedback from managers, peers and others regarding development areas for the executive, aligning information with the company’s goals and values. Executives can chat with their coach anytime on their desktop or mobile device, and through collaborative social apps. The relationships are typically 12 to 18 months. A dashboard tracks executive feedback on their coaching sessions, including progress against their individual plan.
Why it’s Important: The idea of having an executive coach used to be the privilege of the C- Suite. And when I started my career, the idea of a coach was unheard of. However, modern leaders at ALL levels are now looking for one-on-one coaching. Also, more young leaders are stepping up to leadership roles at much earlier stages in their careers. At whatever point, leaders are incredibly pressured to get results while developing themselves and others. This is another example were platforms are providing new value and scale to the “masses.”
Hot Topic 2: The Starbucks of Yoga and the (Down) Side Hustle.
Source: The New York Times, Alice Hines.
What it’s About: This is a fascinating article about the self-proclaimed “Starbucks of Yoga,” CorePower. The company describes itself as a mission-driven fitness company dedicated to changing lives, all while expanding to new cities every year. Today, CorePower has 200 locations in 23 states and Washington, D.C. A key part of its business model is selling customers on the idea of becoming yoga instructors. CorePower offers a full training package that may or may not end up in an employment possibility. CorePower has also faced four federal labor lawsuits, one of which is still pending. In the latest, about 1,200 teachers have signed on to a collective-action suit that argues that CorePower pays them less than minimum wage because of the amount of off-the-clock work they are required to do. As Hines’ article notes: “‘We believe it’s without merit and are defending the company aggressively and appropriately,’ said Eric Kufel, the C.E.O. of CorePower, in a statement.”
Why it’s Important: This is another example where companies and independent contractors are relying on the side hustle to make a business model work. And these new business models, perhaps reflected in the lawsuits faced by CorePower, are challenging many assumptions regarding the relationship between employer and worker. Alissa Quart, the author of “Squeezed: Why Our Families Can’t Afford America,” underlines the following point on this situation: “Ultimately, like so much of this lexicon, the ‘side hustle’ describes the overworked outsiders to privilege, who are forced into informal vocations by the absence of a legitimate economy. They are then told that suffering is valiant and also groovy. In a recent viral BuzzFeed piece describing millennials as the ‘burnout generation,’ side hustles are listed as one of the main culprits.” We need to have an ongoing conversation on this.
My Weekly Wine Recommendation (Thanks to Vivino):
Picture and ratings provided by Vivino.
And finally! Here’s Cecil’s Bleat of the Week!
“Instructions for living a life: Pay attention. Be astonished. Tell about it.” – Mary Oliver.
[Cecil is the mascot for LorneRubis.com]
Bye for now!
– Lorne Rubis
Incase you missed it:
Monday’s Lead In podcast.
Wednesday’s Culture Cast podcast.