Learning from hackers

Hackers are systems thinkers; they have an attitude that allows them to identify opportunities to make outsized impacts creatively, quickly, and resourcefully. Managers could benefit from thinking more like hackers. Here’s why. 1) They can work around obstacles. Their workarounds may not solve problems all at once, but they allow hackers to obtain good-enough outcomes — and quick wins can sometimes pave the way for big unpredicted change. 2) They find opportunities across siloes. Working exclusively within silos can numb people to different ways of interpreting and acting in situations that are too familiar to them. 3) They cultivate a culture around pragmatism. Managers often focus on what they lack, ignoring resources at their disposal that they can repurpose. 4) They keep it simple — and complex. They try to strip away the “accidental complexity,” or the unintentional challenges that we often take for granted but that can distract from the task at hand.

(Adapted from “Why Managers Should Think More Like Hackers,” by Paulo Savaget, published by HBR Ascend)

Old is gold

Older workers are in demand at a growing number of companies. People 55 and older are the fastest-growing segment of the workforce, according to federal data. Perceptions of generational differences don’t always match reality, but three-quarters of people 65 and older said in a WSJ-NORC survey of Americans’ values last month that hard work is very important to them personally. Among 18-to-29-year-olds, 61pc said hard work is very important. The AARP (an interest group in the US focusing on issues affecting those over the age of fifty) since 2012 has asked companies to sign a pledge to give workers over 50 a fair shot in hiring. Commitments rose 122pc last year, compared with 2021, the group says. Younger employees may arrive late for shifts, call out of work often and spend more time scrolling social media feeds than chatting with customers. The learning curve might be longer for the older demographic but they are more likely to have a stronger work ethic, some say, based on experience.

(Adapted from “Bosses Want Hard Workers — So They’re Hiring Older People,” by Callum Borchers, published on April 6, 2023, by The Wall Street Journal)

India’s dangerous generic drugs

For a nation that seeks to claim the mantle of “pharmacy to the world,” India is scandalously short on regulatory oversight. In the last six months alone, its generic cough syrups have killed dozens of children, its eye drops have caused blindness and its chemotherapy drugs have been contaminated. India is the largest provider of generic medicines, producing 20pc of the world’s supply. Its $50bnn drug-manufacturing industry exports medicines to over 200 nations and makes 60pc of all vaccines. But the red flags have been there for years. The children who died — mostly under the age of five years — were given Indian-made over-the-counter products contaminated with industrial solvents and antifreeze agents that are fatal in even small amounts. So far, 68 patients across 16 US states have been affected. Three people died, several had to have their eyeballs removed, some went blind, the Centers for Disease Control and Prevention reported on March 21.

(Adapted from “Just How Dangerous Are India’s Generic Drugs? Very,” by Ruth Pollard, published on April 5, 2023, by Bloomberg)

Negotiating higher pay

Most men and women still don’t ask for more money than they’re offered in a job interview. But if they do, women are more likely to get turned down. About 58pc of men, and 61pc of women said they didn’t ask for higher pay when they were last hired, according to a survey of more than 5,500 US workers. Of those who asked for more money, 28pc said their negotiations were successful, 38pc said they were offered less than they wanted but more than the initial offer, and 35pc said they were only given what was first presented. Pay transparency and the gender pay gap have come into sharper focus in the US as several states now require employers to list a salary range with all job postings.

(Adapted from “Women More Likely to Be Rejected When They Ask for More Pay,” by Jeff Green, published on April 5, 2023, by Bloomberg)

Published in Dawn, The Business and Finance Weekly, April 17th, 2023