Category: Management

The pandemic changed how we evaluate success. This is what to stick with

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As coronavirus was unleashed across the world in early 2020, Facebook did something unprecedented: It gave its employees a break. For the first half of the year, the tech giant granted each of its 45,000 full-time staffers an “exceeds expectations” performance review rating, ensuring they all got $1,000 bonuses . Google, for its part, skipped its midyear reviews altogether, and in the fall, promoted twice as many people as it usually does. The pandemic has changed fundamental parts of work. As people continue to juggle personal and job-related responsibilities at the same time—often from the same dining room chair—employers are having to rethink the way they evaluate performance . The usual rigid metrics for success have flown out the window, and for many companies, it’s less about how many targets you’ve hit, but how well you’re doing overall. “Empathy, caring, supporting people is really the theme,” Josh Bersin, a human resources analyst and consultant, tells the Wall Street Journal . He anticipates this grace period will last around two years.  When “the pandemic is history and we’re back to ‘go, go, go,’ we’ll probably go back to the way things were.” However, if we face this historic moment, , managers and teams can reevaluate some of our performance management tactics for the better. Here are a handful of recommendations. Keep goals fluid Goal-setting looks very different now than it did before the pandemic. Rather than trying to stick to fixed goals that are discussed at annual reviews and then forgotten, managers and teams should start thinking of goals as fluid, updating them on a weekly or even real-time basis. The workplace management team at Gallup emphasizes the importance of an “agile mindset,” which encourages teams not just to expect change, but anticipate it. Ben Wigert and Heather Barrett write “managers should be given the expectation, authority, and flexibility to tailor goal-setting to the team and the individual as their work changes.” Sticking to pre-pandemic expectations is setting employees up to fail. Rather than fixating on KPIs, look at how well your reports are doing with other, often overlooked intangibles: How well are they communicating, both with their managers and their team? Are they bringing clarity to complex situations? Are they contributing positively to morale? As the goal posts for “success” continue to shift, it’s important to adjust expectations accordingly. Read More …

Why security experts were blindsided by the SolarWinds attack

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The SolarWinds cyberattack on U.S. government agencies and private organizations was and is frightening in its scale and success. It proved no match for the government agencies charged with defending against such things, and brought into sharp focus the fact that the government’s current model for responding to cyberthreats is lacking. The Senate Intelligence Committee hosted some of the main players in the SolarWinds saga Tuesday for some soul-searching on how the government and private tech companies should work together to stop future attacks. Some of the main themes discussed in the hearing are likely to end up in new cybersecurity legislation this year, a Congressional source told me. SolarWinds is the name of the Texas-based company whose IT management software is used by many government agencies and large corporations. Back in March 2020, the attackers—widely thought to be employed by Russia’s Foreign Intelligence Service—first planted malware in the SolarWinds system that sends updates to all its clients. When government agencies installed the update, they installed the malware, too. The attack was finally reported in December 2020 by the private security firm FireEye, and then only because the firm discovered its own systems had been infected. The SolarWinds attack was novel, in that it targeted both government and private-sector entities, and for its use of a government supplier (SolarWinds) as a Trojan horse to gain access to government agency systems. The white hats (security good guys) were not ready for this roundabout way of attacking. During the hearing, SolarWinds CEO Sudhakar Ramakrishna said the security community knows how to defend against direct attacks on networks and spear-phishing attacks in which hackers pose as a trusted party and try to trick employees of the target company into giving up their network credentials. Security experts have less experience with attacks that exploit a private-sector supplier of software to the government to gain entry. It’s hard for the eventual target organization—in this case government agencies and corporations—to see that kind of attack coming. The attackers attached malware to an update to SolarWinds’ Orion software. When the company’s clients—18,000 of them—installed the update, they also installed the malware. The attackers are thought to have penetrated the systems of 100 private companies and 11 government agencies, including the Departments of State, Energy, Homeland Security, and Treasury, and the National Nuclear Security Administration Read More …

How Jeff Bezos and Elon Musk are ushering in a new era of space startups

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In early February, Jeff Bezos, the founder of Amazon and one of the planet’s wealthiest entrepreneurs, dropped the bombshell announcement that he would be stepping down as CEO to free up more time for his other passions. Though Bezos listed a few targets for his creativity and energy— The Washington Post and philanthropy through the Bezos Earth Fund and Bezos Day One Fund—one of the highest-potential areas is his renewed commitment and focus on his suborbital spaceflight project, Blue Origin. Before space became a frontier for innovation and development for privately held companies, opportunities were limited to nation states and the private defense contractors who supported them. In recent years, however, billionaires such as Bezos, Elon Musk, and Richard Branson have lowered the barrier to entry. Since the launch of its first rocket, Falcon 1, in September of 2008, Musk’s commercial space transportation company SpaceX has gradually but significantly reduced the cost and complexity of innovation beyond the Earth’s atmosphere. With Bezos’s announcement, many in the space sector are excited by the prospect of those barriers being lowered even further, creating a new wave of innovation in its wake. “What I want to achieve with Blue Origin is to build the heavy-lifting infrastructure that allows for the kind of dynamic, entrepreneurial explosion of thousands of companies in space that I have witnessed over the last 21 years on the internet,” Bezos said during the Vanity Fair New Establishment Summit in 2016. During the event, Bezos explained how the creation of Amazon was only possible thanks to the billions of dollars spent on critical infrastructure—such as the postal service, electronic payment systems, and the internet itself—in the decades prior. “On the internet today, two kids in their dorm room can reinvent an industry, because the heavy-lifting infrastructure is in place for that,” he continued. “Two kids in their dorm room can’t do anything interesting in space. . . . I’m using my Amazon winnings to do a new piece of heavy-lifting infrastructure, which is low-cost access to space.” In the less than 20 years since the launch of SpaceX’s first rocket, space has gone from a domain reserved for nation states and the world’s wealthiest individuals to everyday innovators and entrepreneurs. Today, building a space startup isn’t rocket science. Related: Jeff Bezos: Blue Origin ‘is the most important work I’m doing’ The next frontier for entrepreneurship According to the latest Space Investment Quarterly report published by Space Capital, the fourth quarter of 2020 saw a record $5.7 billion invested into 80 space-related companies, bringing the year’s total capital investments in space innovation to more than $25 billion. Overall, more than $177 billion of equity investments have been made in 1,343 individual companies in the space economy over the past 10 years. “It’s kind of crazy how quickly things have picked up; 10 years ago when SpaceX launched their first customer they removed the barriers to entry, and we’ve seen all this innovation and capital flood in,” says Chad Anderson, the managing partner of Space Capital. “We’re on an exponential curve here Read More …

Silicon Valley companies took $380 million in COVID-19 bailout money

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Silicon Valley tech companies took many millions in government bailout money this year via a program intended to allow employers to retain their employees during the pandemic. According to newly released Small Business Administration data, 885 Silicon Valley tech companies borrowed a total of $381.3 million via the Paycheck Protection Program . That figure excludes telecommunications companies and does not account for businesses based in San Francisco. Read More …

Top AI ethics researcher Timnit Gebru says Google fired her over an email

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Timnit Gebru, a high-profile AI ethics researcher and leader in the field, has been forced out of Google. Gebru, who announced the news on Twitter Wednesday night, wrote that she was fired by Google’s head of AI Jeff Dean over an email she had written to a list consisting of women and allies at Google Brain. Read More …