Fighting Loneliness. Why Older Workers Are Killing Young Careers. How To Tell If You Work For A Cult. Plus More! #213

Grüezi!?I’m Adrian Monck – welcome!

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1???How To Fight Loneliness

Sweat the everyday small stuff...

Increasingly Americans report feeling lonely. Why? The WSJ’s Te-Ping Chen says the way we live and work is a big contributor.

One reason? More meetings, fewer greetings.

Time spent in meetings has tripled since 2020, leaving less opportunity for the micro-moments that make people happier at work.

The consequences? Staff turnover and worker absences. Loneliness is costing companies billions in absenteeism alone – $150 billion+ on one estimate – making it a pressing business issue for employers.

Sarah Wright researches the phenomenon:

“We used to think loneliness has to be overcome by developing meaningful relationships and ... intimacy. More and more, though, we’re seeing it’s these day-to-day weak ties and frequency of [interactions] with people that matters.”

Companies –?in well-intentioned top-down style – are trying various strategies to boost connectivity, such as encouraging in-person gatherings, training employees to spot isolation, and hosting events to improve relationship skills.

Everything but cutting back on meetings and giving people time to recognise each other.

??Even CEOs are – hold the tissues – lonely .

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2?? Older Workers, Colder Career Prospects

If you’re young...

As workforces in high-income countries continue to age rapidly, older workers have been staying in jobs longer.

In the US, workers aged 55 or older went from one in eight in 1985 to nearly a quarter by 2020.

New research says all this comes at a cost for younger workers – career prospects.

1. The wage gap between workers over 55 and those under 35 has grown substantially in recent decades, despite the increased number of older workers in the workforce.
2. Companies struggle to create new high-level positions and older workers’ wages are “stickier”, so younger workers often face slower career progression and lower wages.
3. Older, larger firms with slower growth, struggle to provide satisfactory career paths for their younger employees. And younger workers are increasingly concentrated in lower-paying companies, with older workers entrenched in better-paying firms.

Lower wages early in your career have significant repercussions on life decisions, like starting a family, buying a home, or investing.

So policy-makers need to start thinking hard about how we can level the playing field...

??Thinking about future-proofing your career? Isabel Berwick has a book for that.

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3?? Scream If You Want To Go Faster

The biggest political issue not riling voters anywhere.

The US is about to endure a record-breaking “heat dome.” Phoenix, Arizona is introducing ice pack body bags to treat heat stroke victims.

In the Middle East temperatures have topped 50°C. Saudi Arabia is warning of intense heat during this year’s Hajj .

The Times of India headlined this week “How Scorching Heat is Making India Unlivable .”

The consequences? India is burning more gas to keep cool. It had elections this week. But climate change barely made stump speeches.

Something will have to give. Let’s hope it’s not us.

??Climate change is getting your taxes to pay for new jobs – Chief Heat Officers .

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4?? Debunking Deglobalisation

Corporate tax avoidance and Chinese factories keep it rolling.

Brad Setser has a great piece in Foreign Affairs challenging the conventional wisdom that we’re deglobalising.

What’s keeping globalisation rolling?

Corporate tax avoidance is one contributor to the resilience of globalisation. Tax-haven Ireland is now the largest exporter of pharmaceuticals to the US.

Setser’s main arguments?

1. Data shows the world economy is getting more, not less, globalised, particularly in relying on China: “Between 2019 and 2023, China’s manufacturing surplus rose by about a percentage point of global GDP.”
2. Global trade surged during the pandemic, with the world’s trade with China accelerating not slowing, partly due to its ability to produce high-tech exports at unbeatable prices.
3. The decline in foreign direct investment (FDI) after 2016 was largely the result from changes in tax regulations, not a broader trend of deglobalisation.

Setser says we need to fix slippery multinational tax dodges. But he also points out that conventional wisdom has consequences.

It could lead political leaders and publics to underestimate the cost of actions that would fracture the world economy, such as a conflict in the South China Sea or a unilateral US retreat from trade.

??A recent study also says claims of deglobalisation are overblown.

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5?? The Changing Face of War

A young Ukrainian on how military tactics will change.

Fedir Serdiuk is a young Ukrainian humanitarian you should follow if you want to know more about the people on the frontline of defending the West.

Here’s his post about four #outdated military tactics in NATO exercises that are unlikely to be seen on future battlefields:

1. Artillery Battery Fire: Reconnaissance and attack UAVs mean modern artillery is decentralised, hidden, and moves rapidly to avoid destruction.
2. Tented Field Hospitals: Goodbye M*A*S*H . Hospitals have become common targets for attacks, as seen with Russian troops in Ukraine.
3. Helicopter Casualty Evacuations: Anti-air capabilities are so advanced that deploying helicopters to front lines is almost impossible and not worth the risk.
4. Reconnaissance Vehicles: Modern unmanned reconnaissance devices have made them redundant, and their light armour no longer provides adequate protection against threats like FPV drone strikes.

??AI and the art of War in Ukraine .

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6???What Does Space Need?

A good vacuuming!

??Space littering is an expensive problem for startups.

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7?? Do You Work For A Cult?

How to tell if you’ve sold your soul.

Strong organisational cultures can boost employee happiness, engagement, and loyalty.?But sometimes, the line between business culture and corporate vulture can get a bit blurry.

The LSE’s blog has a handy guide to the signs you work in a cult:

1. Visionary Leader: Does your boss have a “bigger-than-business” vision that everyone has to get behind? Are people who question it sidelined? Watch out.
2. Everyone’s Expected to Fit In or… Standing out is a big no-no.
3. Corporate tattoos. Prove Your Loyalty! Are you expected to put loyalty over your own values or ethics?
4. Toxic Trap. Staying loyal to a poisonous workplace or a bad boss, despite knowing it’s unhealthy? Employees in this situation often feel they can’t leave or worry they won’t be able to find another job, because their confidence has taken a hit. And feeling part of “something bigger” justifies unhappiness.
5. Living in a Company Bubble. Cult-like campuses can cut you off from outside influences. If your workplace expects you to dedicate your entire life to the company’s “community,” that’s a red flag. A strong sense of community can be great, it shouldn’t come at the cost of your individual and personal life.

??How did we come to call workplaces toxic ?

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If you enjoy this newsletter – please recommend it!

Best,

Adrian