Forbes - 'Tis The Season to Start Planning

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Hello everyone,

We’re starting this Thanksgiving week with a mix of emotions, from grief for those who died after a driver plowed through a holiday parade in Wisconsin to gratitude for friends, family and colleagues. For leaders, it’s a time of year when planning and budgets are under review. Whether you’re contemplating how to get people back to the office or how to be an employer of choice for veterans, there are a lot of decisions ahead. So in this issue, let’s look at some of the factors that you may want to take into consideration.

To start, I’m thrilled to announce a new partnership with HundredX, a mission-based insights and analytics company that incentivizes people to share customer feedback as a way to provide funding for more than 200 charities and causes nationwide. The result is a vast pool of consumer insights that point to key trends, inflection points, and ideas for new innovation. We’re working with HundredX on a major list to measure a brand’s customer impact and will bring you exclusive insights through this newsletter to help in connecting the dots. Be sure to check out this month’s spot analysis in the Numbers section below. 

Here’s some other food for thought from our team that may help shape your thinking as you contemplate the challenges ahead. Enjoy the holiday and see you again next week.

Have a great week.

Diane

Diane Brady

Diane Brady

Assistant Managing Editor, Communities & Leadership

What's Next

Thanksgiving coincides with the high holiday of shopping known as Black Friday. With supply chain issues, labor shortages and inflation, the atmosphere in stores might feel a little more subdued this year. But the biggest change is not what people are buying but how they’re buying. The migration to online shopping is just the start. Alex Sternlicht reported today on SoftBank’s $300 million investment in shopping platform LTK.  What sets LTK apart from other shoppable platforms like Instagram is its laser-sharp focus on helping content creators not only influence what we buy but become the place where we buy.  As cofounder Amber Venz Box told Sternlicht: “We think that a creator should be able to offer someone a shopping experience that is competitive with every retail experience in the world.”

Leadership & Strategy

One way to spur gratitude among employees? Share the wealth. Jena McGregor reports that some of Chobani’s hourly workers could make up to $1 million or more in stock awards when the fast-food operator goes public. For context, founder and CEO Hamdi Ulukaya has described the idea of maximizing profits for shareholders “the dumbest idea I’ve ever heard in my life. In reality, business should take care of employees first.”

Another way to attract and retain talent? Treat them as human beings. While AI tools can speed up the hiring process by sifting through resumes at rapid speed, managers have to be sensitive to algorithmic bias. Martin Giles reports on digital bounty hunters who are tracking whether AI-driven hiring tools reinforce discrimination.  Here’s what he found.


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By The Numbers

 
Are we nearing the end of a strong consumer-led economy?
 
 
 
Are we nearing the end of a strong consumer-led economy?

A key question concerning business and policy leaders is how inflation will impact consumers and their future spending behavior.  HundredX data indicates that customer satisfaction on price has begun a to shift down since July. When asked about expected changes in their future spending plans during the next 12 months across 60+ industries, consumers were markedly more cautious compared with earlier in the year. 

One possibility is that we are nearing the end of a strong consumer-led recovery.  The above chart from HundredX highlights the recent decline in consumer spending expectations as well as the strong historical correlation to that data ahead of the reported change in US Personal Consumer Expenditures, which account for almost 70% of US GDP.



 
 
McDonald's CEO Needs to Win Back Black and Brown customers
 
 
 
McDonald's CEO Needs to Win Back Black and Brown customers

Jared Council recently reported on the fallout of recently unearthed text messages from McDonald's President and CEO Chris Kempczinski, which appeared to criticize the parents of children killed in two Chicago shootings earlier this year. For a company that has relies heavily on Black customers and made bold diversity, equity and inclusion pledges in the wake of the killing of George Floyd, there is one key priority right now: Rebuild trust.


Read More →
 

Across Forbes

 
2021 Forbes Power Women’s Summit
 
 
 

ForbesLive

2021 Forbes Power Women’s Summit

Join us for the 2021 Forbes Power Women’s Summit taking place virtually on Thursday, December 9 at 11 a.m. ET | 8 a.m. PT. As we chart a course toward a post-pandemic world, the Summit will explore how today’s most dynamic changemakers are leading a new way forward and building a more equitable future. The Summit voices will include: Aurora James, Founder & Creative Director, Fifteen Percent Pledge and Brother Vellies; Jane Goodall, Founder, Jane Goodall Institute & UN Messenger Of Peace; Rosalind Brewer, Chief Executive Officer, Walgreens Boots Alliance; Allyson Felix, Five-time Olympian, 11-time Olympic medalist, Founder & President, Saysh; Naomi Campbell, Supermodel & Activist; Lindsey Vonn, Former Olympic Skier & Founder, Lindsey Vonn Foundation and more. Register for free today!  

Register For Free →
 
2021 Forbes Healthcare Summit: Breakthrough Solutions for the Next Decade
 
 
 

ForbesLive

2021 Forbes Healthcare Summit: Breakthrough Solutions for the Next Decade

It doesn’t get bigger than this! Help celebrate the 10th Annual Forbes Healthcare Summit on December 2 at 9:30 a.m. ET, with iconic leaders who are setting the global agenda across science, medicine, and business in a year where leadership has never mattered more. The CEOs of Walgreens Boots Alliance, IBM, CVS Health, TIAA, Uber, Anthem, Northwell Health, CRISPR Therapeutics, UnitedHealth Group, and more, are all on board to participate in the most consequential healthcare event of the year. This year we are again opening our virtual door and offering access to all wishing to attend.

Register To Attend →
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