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‘Unwellness’ at work costs U.S. $2.2 trillion, report finds

30 Apr 2016 Posted by admin in Uncategorized

Repost Bizjournals by Teresa Novellino is entrepreneurs & enterprises editor at Upstart Business Journal in New York

Companies should give their workplace wellness programs an overhaul, finds a new report from the Global Wellness Institute which says “unwellness” at work costs the U.S. economy $2.2 trillion annually.

Here’s how the wellness think tank, based in Miami, came up with that figure: Disengaged workers cost businesses $550 billion in lost productivity, while workers with chronic disease cost companies $1.1 billion. The rest of the tab stems from $250 billion in work-related injuries and illnesses, and $300 billion in work-related stress.

“A lot of us face wellness challenges where we work, and it’s not getting any better,” said Ophelia Yeung, a senior research fellow for Miami-based Global Wellness Institute who spoke at a luncheon Wednesday at the Manhattan offices of Steelcase, the office furniture and design firm, where the 2016 annual reportwas released.

While wellness programs are more common in North America as compared to elsewhere around the world (52 percent of companies on this continent have one), most employees surveyed as part of the study don’t think they work, and some are suspicious that wellness is a way for companies to squeeze more productivity out of them. Millennials say that such programs make zero difference, while a big problem across various age ranges is the perception that companies don’t care much about how their workers are doing physically, spiritually, and mentally.

“Many people think ‘My company doesn’t care if I’m well or not,’” said another Global Wellness Institute researcher Katherine Johnston.

So what will workplace wellness, a $40 billion part of the global wellness economy, look like in the future? Some companies are setting up nap and meditation rooms to help employees perk up during the day, Johnston said.

“Not every workplace needs ping-pong tables and videogames,” she said.

One entrepreneur at the luncheon was Zeel founder Samer Hamadeh who said his massage-on-demand app is now being used not just by individuals but by companies such as Pfizer and Zappos.

“Sitting at our desks makes us really unhealthy,” Hamadeh said, adding that even a 10 or 15-minute massage that take place in an office with clothes on can help staff de-stress and get the blood circulating. His company, based in New York, offers quarterly and monthly packages to companies who want to add it as part of their wellness programs.

Those few minutes of massage are just a fraction of the workweek for salaried workers, according to a companion white paper from Everyday Health commissioned by Global Wellness Institute. That paper found that most salaried workers work 46 hours a week on average, and some work a full 1.5 extra days per week.

“Only one in three workers feels their company cares for them,” said Denise Esakoff, vice president of global market research at Everyday Health, said. Those that do feel as if their companies care about them are markedly more likely to enjoy their work with 66 percent of those who worked for companies they felt “cared,” reporting that they find their work to be interesting.

For those at “non-caring” companies, 84 percent said their mental health was affected, 75 percent said their happiness was affected, 68 percent cited physical health issues and 52 percent said their family life was affected.

“We all want to come to work in a place that we feel good about,” Esakoff said.

Millennials, in particular, value healthy food, the ability to set their own career paths, and praise for a job well done (even over monetary awards), the research found.

Tangible wellness benefits can include subsidized gym memberships, options to telecommute, stress reduction programs, privacy space and on-site recreation. Intangible benefits can simply be encouraging people to forge friendships at work and having a manager that sets a positive tone and “reasonable expectations,” versus expecting people to answer emails around the clock.

“People are yearning for positive role models,” Johnston said.

Yeung says one of the predictions of the study is that wellness at work will gain momentum within the next five years. adding that workers of the future will seek out the healthiest workplaces to improve their own wellness, and such companies will have a competitive advantage in attracting better workers. The government could begin to set regulations for the workplace involving wellness as they do for worker safety.

“Lost productivity and engagement will be too hard to ignore,” she said.

Teresa Novellino is entrepreneurs & enterprises editor at Upstart Business Journal in New York

To Be Successful, Do Only What You Do Best

29 Apr 2016 Posted by admin in Uncategorized

by: Steve Tobak Author and Managing Partner, Invisor Consulting

repost from Entrepreneur Magazine

If there were some way for you to download decades of my experience in the business world and sort through the individuals who have had great success bringing real products to market, you’d find something very interesting.

You’d find a lot of very competent, talented, smart, ingenious, driven people who work very hard at their jobs. And the one thing they care about most is helping to deliver groundbreaking products and services that customers prefer over the competition.

One more thing they’d all have in common: a specific area of functional expertise. Whether it’s product development, operations, marketing, finance, or an entire market, there is always one thing they do best. The same is true of nearly every successful entrepreneur you’ve ever heard of:

  • Facebook founder Mark Zuckerberg is a coder. So is Google CEO Larry Page. So was Bill Gates.
  • Steve Jobs was more of a marketing genius. Likewise, Starbucks founder Howard Schultz has a head for marketing.
  • Apple’s current CEO Tim Cook is an operations guy.
  • Whole Foods founding CEO John Mackey has always been into food, especially healthy food.
  • As for Salesforce.com CEO Marc Benioff, as far back as high school he was all about software.

I started out in engineering but migrated to marketing. Although I’m now a business consultant and writer, I’m still a marketing guy. That’s what I do best.

I could go on but I’m sure you get the point. Everyone starts out doing something and some of us end up running the whole show, but somewhere in between, successful people always find the one thingthey do best. And that becomes a pivotal point in our careers.

While I’m tempted to say that once you find it, you pretty much know, I can’t say that for sure. It was true for me and of everyone else I’ve ever asked about it, but I’m sure some only know in hindsight, long after the fact.

Still, there is a catch. As far as I know, this is true only of highly driven people. I suspect the reason is they make it their mission in life to find a place where their talents can shine and they can make their mark on the world. They search until they find it. That pursuit speaks to their motivation, focus, discipline, and work ethic.

If you have those qualities, I believe you will find what you’re looking for. Sooner or later, I think we all do. But one thing’s for sure. That one thing is always a market or functional expertise. If not, then by definition it’s not marketable and you won’t be successful, at least not from a business standpoint.

Of course, your one thing could be some sort of humanitarian cause. It doesn’t have to be a moneymaker. But make no mistake, if you want to be successful in business, you have to find that one thing you do best.

Speaking of which, one article making the rounds makes the ridiculous claim that “entrepreneurs are generalists.” There are two problems with that. First, the single European study it references was actually a student survey. It involved no entrepreneurs. Not one.

Second, the authors of the study, although it actually hurts for me to call it that, wrote, “… mere computer nerds are not likely to become entrepreneurs …” Really? Could they be more wrong? What about Gates, Wozniak, Page, Zuckerberg, and hundreds of other geeks who founded great companies?

That’s actually as good an example as any to provide a word of caution. The Internet is literally littered with fads, pseudoscience, BS claims, ludicrous surveys, and content mills that will sell their souls for some clicks and eyeballs. Getting into that sort of thing does not count as an expertise. Not even close.

Truth is, if real entrepreneurs wasted their precious time on all that online nonsense instead of focusing on finding and developing the one thing they do best, there would be no Microsoft, Apple, Google, or Facebook. There would be no Silicon Valley. And there would be a lot fewer successful entrepreneurs

The Innovative Coworking Spaces of 15th-Century Italy

29 Apr 2016 Posted by admin in Uncategorized

Coworking spaces are on the rise, from Google’s “Campus” in London to NextSpace in California. Much has been made of these shared workspaces as a brand-new idea, one that barely existed 10 years ago. But the way they function reminds me of a very old idea: the Renaissance “bottega” (workshop) of 15th-century Florence, in which master artists were committed to teaching new artists, talents were nurtured, new techniques were at work, and new artistic forms came to light with artists competing among themselves but also working together.

The Renaissance put knowledge at the heart of value creation, which took place in the workshops of these artisans, craftsmen, and artists. There they met and worked with painters, sculptors, and other artists; architects, mathematicians, engineers, anatomists, and other scientists; and rich merchants who were patrons. All of them gave form and life to Renaissance communities, generating aesthetic and expressive as well as social and economic values. The result was entrepreneurship that conceived revolutionary ways of working, of designing and delivering products and services, and even of seeing the world.

Florentine workshops were communities of creativity and innovation where dreams, passions, and projects could intertwine. The apprentices, workers, artisans, engineers, budding artists, and guest artists were interdependent yet independent, their disparate efforts loosely coordinated by a renowned artist at the center — the “Master.” But while he might help spot new talent, broker connections, and mentor younger artists, the Master did not define others’ work.

For example, Andrea del Verrocchio (1435–1488) was a sculptor, painter, and goldsmith, but his pupils weren’t limited to following his preferred pursuits. In his workshop, younger artists might pursue engineering, architecture, or various business or scientific ventures. Verrocchio’s workshop gave free rein to a new generation of entrepreneurial artists — eclectic characters such as Leonardo da Vinci (1452–1519), Sandro Botticelli (1445–1510), Pietro Perugino (c. 1450–1523), and Domenico Ghirlandaio (1449–1494).

What can those who want to create more innovative and collaborative workplaces today — whether that’s a better office in a traditional organization, a coworking space, a startup incubator, or a fab lab — learn from the workshops of the Renaissance? The bottegas’ three major selling points were turning ideas into action, fostering dialogue, and facilitating the convergence of art and science:

Turning ideas into action. Renaissance workshops were not just a breeding ground for new ideas; they helped ideas become reality. Likewise, today’s innovative workplaces need to be equipped with everything people need to turn their insights, inspirations, and mental representations into new products and ventures. Coming up with new ideas is hard enough, but the real challenge for many organizations is figuring out how to exploit them and turn a profit.

Fostering dialogue. Ferdinando Galiani, a Neapolitan economist of the 18th century, argued that markets are conversations. The quality of the network — that is, the combined intelligence of people and organizations with different skills and abilities — plays a critical role in innovation.

In Renaissance workshops, specialists communicated with each other consistently and fluidly, facilitating mutual understanding. The coexistence of and collision among these diverse talents helped make the workshops lively places where dialogue allowed conflicts to flourish in a constructive way. The clash and confrontation of opposing views removed cognitive boundaries, mitigated errors, and helped artists question truths taken for granted.

Today, we often recognize the need for these kinds of illuminating conversations without really making space for them in our organizations, either because organizations are too afraid of conflict or because people are simply too busy to try to expand their understanding of each other. But Renaissance workshops offer proof of how important it is for collaborative workplaces to draw on sources of opposing ideas and controversial opinions.

Facilitating the convergence of art and science. While often remembered as primarily artistic today, in truth the Renaissance workshop was transdisciplinary. This helped create a holistic approach to creativity, which stands in opposition to our own organizations, in which people in different specialties are often separated into silos.

For example, during the Renaissance nature was seen as a convergence of art and science, as in the famous “Vitruvian Man” drawing by da Vinci. Many of today’s most exciting business opportunities are similar meetings of technological advances and aesthetic beauty. Bringing these disciplines together fosters mutual learning through experiments that lead to business opportunities.

Whether you are running a coworking space or trying to get your own organization to be more creative and collaborative, think about some of the ways you might follow the example of a Renaissance workshop

Piero Formica is the founder of the International Entrepreneurship Academy and, currently, a Senior Research Fellow at the Innovation Value Institute. He is author of The Role of Creative Ignorance: Portraits of Path Finders and Path Creators.