Xorte logo

News Markets Groups

USA | Europe | Asia | World| Stocks | Commodities



Add a new RSS channel

 
 


Keywords

2025-03-10 23:05:00| Fast Company

Today, no matter where you are in the world, it’s not unusual to find yourself working alongside an analyst from Amsterdam, a strategist from San Francisco, or a designer from Dubai. As companies look increasingly further afield for workers, they unlock a range of benefitsfrom wider talent pools that make it easier to find specialized talent to the injection of new perspectives that offer insights into diverse customer bases. While most business leaders agree that developing the right workplace model is crucial to their companys success, only 24% feel their organization is actually ready to fully embrace a distributed workforce. The list of potential reasons for this is long. Common worries include navigating different cultures, time zones, legal requirements, and compliance hurdles. We recently investigated how these problems manifest at each stage of the employee lifecyclehiring, onboarding, and management. Heres what we discovered about the challenges of managing global teams, and the solutions. The challenges of a global workforce There are three main areas of difficulty facing distributed organizations. Operating on a global scaleTraditional methods of hiring global workers, such as opening legal entities, are clunky and costly. Managing compliance across the globe is no jokenavigating laws across multiple countries increases chances of misclassification penalties and other legal troubleswhich is why more companies are pivoting to an employer of record (EOR) solution. Creating a unified teamBuilding teams across multiple countries comes with logistical and cultural hurdles. Clear communication is much harder than it might be in person, especially with workers operating in different time zones. This means global HR teams must create robust internal communication policies and guidelines to help teams stay engaged and in-the-loop. Leading from a distanceGlobal workforce management is the ultimate test of leadership qualities. Employees with different cultural backgrounds may have varying communication styles, work expectations, and even attitudes towards hierarchy. If managers arent sufficiently aware of and sensitive to these differences, morale-draining misunderstandings and conflict are oftentimes the result. These are thorny, intertwined problems, but that doesnt mean they cant be solved. Here are some concrete solutions that you can use to support your own workforce. Operate on a global scale Operating on a global scale is not purely a problem. Indeed, its one of the main draws of building a global workforce in the first place. A distributed team can cater to a global client base, with sales and customer service staff online to close deals at all hours and offer 24/7 support. The challenge is that operating round the clock introduces significant potential for silos between regions. As a survey revealed, working across different time zones ranks among the top five challenges of remote work. Helping managers maintain seamless collaboration and customer engagement despite time zone differences means setting clear expectations around communication. For instance, businesses should embrace forms of communication that dont require individuals to be simultaneously present, such as pre-recorded videos or shared kick-off documents. And if youre a global organization, you should act like it. Recognize the time zone burden and rotate meeting times, rather than defaulting to the time zone of a manager or a large office. Create a unified team Nailing communication isnt just good for operationsits at the core of any effective team. How can an organization function if its people dont know what everyone else is doing? Little wonder that a study from McKinsey found that companies with effective internal communication can boost productivity by as much as 25%. But good communication is especially key in distributed environments, requiring extra effort on the part of everyone. Among distributed teams, communication has to be intentionalwhether its via email, a video call, or a chat message. Crucially, a good communicator knows not only when to communicate, but how to limit non-essential noise. That means limiting participants in a meeting to only those who truly need to be there, or finding the right medium to communicate a specific pointa video, for instance. Lead from a distance Leadership looks different in a global company, and those with experience working in a culture different from their own have a clear advantage. Such people will naturally have gained the ability to navigate cultural differences and demonstrate self-awareness regarding their own biases. One study found that 89% of people who worked abroad said it improved their ability to work well with people from other countries and cultures. This doesnt mean that it cant be taught, however. It’s a skill that anyone can learn with the right framework of encouraging self-awareness and modeling the behaviors that make global teams a success. For instance, small demonstrations of leadership can mean a lot to workers, showing that managers care about them as people, not just commodities. Its worth brushing up on headlines for the location of the person that you’re about to talk to and understanding what might be happening around them. From challenge to advantage While there are difficulties to operating a distributed team, all can be turned into positives. By prioritizing communication, cultural understanding, and self-awareness, you can unlock the full power of a global workforce. Sagar Khatri is cofounder and CEO of Multiplier. The Fast Company Impact Council is a private membership community of influential leaders, experts, executives, and entrepreneurs who share their insights with our audience. Members pay annual membership dues for access to peer learning and thought leadership opportunities, events and more.


Category: E-Commerce

 

LATEST NEWS

2025-03-10 22:45:00| Fast Company

Corporate philanthropy and corporate social responsibility (CSR) teams face increasing pressure to maximize the effectiveness of their limited funds while addressing complex social and environmental challenges. To meet these demands, innovative strategies that combine campaigns, education, and deep stakeholder engagement are proving vital. By leveraging these approaches, organizations are shifting from traditional grantmaking to more dynamic, impact-driven models that can deliver tangible and sustainable outcomes on a global scale. How catalytic impact transforms funding models In contrast to traditional isolated efforts, a catalytic impact model brings together diverse organizations around a shared mission to drive coordinated and measurable outcomes. This approach exemplifies the idea that We can do more together than alone. This past year, Kiva brought several partners together behind a single mission: support women. An initiative for International Womens Day 2024 demonstrated this concept in action by mobilizing multiple corporate partners to exceed their shared goal of financially supporting over 4,000 women around the world. Six partners came together to raise awareness and engage their stakeholders: UGG, U.S. Womens National Team Players Association (USWNTPA), Bank of America, Hitachi, The Coca-Cola Foundation, and Visa Foundation. They leveraged their platforms and networks to raise awareness and engage their audiences. UGG, for instance, created an impact-focused landing page, while others utilized social media collaborations to rally their audiences. The result: Not only did these companies surpass the goal by supporting 4,279 women with over $2.3 million in loans, but 12,901 additional women received a surge in loan funding. This achievement underscores the potential of catalytic impact: When aligned organizations unite with purpose, their collective efforts dont just accomplish immediate goalsthey lay the groundwork for ongoing impact. Thanks to innovative models like revolving funds, the resources raised continue to circulate, benefiting thousands more women with the capital they need to thrive. Partnerships for greater good During the 2023 FIFA Womens World Cup in Sydney, The Coca-Cola Foundation took the stage to announce a five-year, $1.1 million grant to enhance financial access for underrepresented women entrepreneurs worldwide. The true value of this initiative lies in its potential for exponential impact. By the end of the first year, it had already reached more than 17,000 women entrepreneurs and today, a little more than a year later, that number has more than doubled with over $2 million in capital in the hands of women around the world. With a revolving fund model in play, the same funding will continue to cycle back, enabling more women to access the capital they need to start and grow their businesses. Over the next four years, the impact is projected to triple, directly benefiting more than 45,000 women. Kivas transparent and impactful model has enabled The Coca-Cola Foundation to invest in communities globally while being able to track the impact at an individual level, said Carlos Pagoaga, president of The Coca-Cola Foundation. Central to this impact tracking is a real-time impact dashboard that offers stakeholders a clear view of the partnerships reach, enabling an element of transparency between companies and stakeholders.  Its a transformative approach to corporate partnerships for any organization committed to genuine change, added Pagoaga. Build engagement through powerful narratives Effective partnerships rely not only on funding but also on rallying stakeholders and audiences to join a shared mission and vision for change. USWNTPAs Leveling the Playing Field initiative is a prime example. Soon after the USWNTPA made history in 2022 by securing commensurate pay with the mens team, its members sought a way to compound that influence. Kivas commitment to gender equality attracted their attention, offering a dynamic vehicle to advance economic justice and expand financial access for women. The team eagerly committed to lending $2.5 million in capital for zero-interest, zero-fee Kiva loans in the U.S. by 2025.As borrowers repay their loans, the funds are returned to USWNTPAs account, enabling a continuous cycle of impact. This means that one loan by an individual, combined with a matching contribution, can multiply into two to three times the impact, creating opportunities for thousands of U.S. small businesses and fostering economic empowerment. To further engage their audience, USWNTPA recently launched the 99 Women campaign to celebrate the historic win of the 1999 Womens World Cup. The campaign encouraged fans to change the game for women entrepreneurs by supporting 99 women. It invited followers to vote on the categories of women entrepreneurs they wanted to champion, reinforcing the idea that with the right team, any goal is possible. This approach effectively leveraged USWNTPAs legacy and its connection with fans to drive tangible impact. Corporates unite for global impact As global issues continue to grow in complexity and traditional resources face increasing constraints, its clear that dynamic partnerships and innovative funding models hold the key to achieving greater impact. Social impact leaders are changing the world by leveraging their funds for catalytic impact. While each partnership is unique, all are focused on achieving lasting change in communities most affected by global challenges. Corporate leaders, the time is now. To truly drive change with your CSR initiatives, think beyond traditional grants and explore strategies that blend innovative campaigns, education, and stakeholder engagement. By incorporating models like revolving funds and catalytic partnerships, your organization can multiply its impact, build a more engaged audience, and contribute to long-term, transformative change. Let your next CSR investment do more than goodlet it set new standards for sustainable, impactful giving. Vishal Ghotge is CEO at Kiva. The Fast Company Impact Council is a private membership community of influential leaders, experts, executives, and entrepreneurs who share their insights with our audience. Members pay annual membership dues for access to peer learning and thought leadership opportunities, events and more.


Category: E-Commerce

 

2025-03-10 22:30:00| Fast Company

A nonprofit that was awarded nearly $7 billion by the Biden administration to finance clean energy and climate-friendly projects has sued President Donald Trump’s Environmental Protection Agency, accusing it of improperly freezing a legally awarded grant. Climate United Fund, a coalition of three nonprofit groups, demanded access to a Citibank account it received through the Greenhouse Gas Reduction Fund, a program created in 2022 by the bipartisan Inflation Reduction Act and more commonly known as the green bank. The freeze threatens its ability to issue loans and even pay employees, he group said. The combined actions of Citibank and EPA effectively nullify a congressionally mandated and funded program,” Climate United wrote in a Monday court filing. Last April, then-Vice President Kamala Harris announced that EPA had selected eight groups, including Maryland-based Climate United, to receive $20 billion to finance tens of thousands of projects to fight climate change and promote environmental justice. The money was formally awarded in August. While favored by congressional Democrats, the green bank drew immediate criticism from Republicans, who routinely denounced it as an unaccountable “slush fund.” Former EPA Administrator Michael Regan sharply disputed that claim. The bank was quickly targeted by EPA Administrator Lee Zeldin, who was confirmed to the role in late January. In a video posted on X, Zeldin said the EPA would revoke contracts for the still-emerging program. Zeldin cited a conservative journalists undercover video made late last year that showed a former EPA employee saying the agency was throwing gold bars off the Titanic presumably a reference to spending before the start of Trumps second term. Zeldin has repeatedly used the term gold bars to accuse the Greenhouse Gas Reduction Fund’s recipients of misconduct, waste and possible fraud. According to the lawsuit filed in federal court, Citibank cut off access to Climate Uniteds bank account on February 18 an action the bank did not explain for weeks. The cutoff took place as Zeldin made multiple public appearances accusing Climate United and other groups of misconduct, eventually announcing that the funds were frozen, according to the lawsuit. Climate United said the EPA has refused to meet with the group. Several Democratic lawmakers slammed Zeldin’s attacks on the green bank. The Trump administrations malicious and unfounded attacks on the Greenhouse Gas Reduction Fund have resulted in a sham investigation and unsubstantiated funding freeze, Maryland Sen. Chris Van Hollen, Massachusetts Sen. Ed Markey and Michigan Rep. Debbie Dingell said in a statement. The three Democrats pushed for creation of the green bank. Citibank said it was reviewing the lawsuit. As weve said previously, Citi has been working with the federal government in its efforts to address government officials concerns regarding this federal grant program,” the bank said in a statement Monday. “Our role as financial agent does not involve any discretion over which organizations receive grant funds. Citi will of course comply with any judicial decision. The EPA declined to comment, citing pending litigation. In its court filing, Climate United pointed to the resignation of a former prosecutor in the U.S. Attorneys Washington office after refusing demands from top Trump administration officials to freeze the group’s assets. Zeldin raised questions in a letter to the agency’s watchdog about the EPAs use of Citibank to hold the money, a structure that allowed the eight entities to be used as pass throughs for eventual grant recipients. The process undermined transparency, Zeldin alleged. He also questioned the qualifications of some of the entities overseeing the grants and said some were affiliated with the Biden administration or Democratic politics, including Stacey Abrams, a former Democratic nominee for Georgia governor. Trump singled out Abrams over her ties to the green bank in his address to Congress last week. In a letter to EPA officials on March 4, Climate United disputed Zeldin’s allegations. The groups lengthy application material is publicly available and the EPA used a rigorous selection process, Climate United said, adding that its spending is transparent. In addition to Climate United, the new fund has awarded money to other nonprofits, including the Coalition for Green Capital, Power Forward Communities, Opportunity Finance Network, Inclusiv and the Justice Climate Fund. Those organizations have partnered with a range of groups, including Rewiring America, Habitat for Humanity and the Community Preservation Corporation. The EPA’s former inspector general had urged more oversight of the green-bank program. The rapid implementation of the program, combined with the relatively narrow window of availability for such a significant amount of funding, may lead the EPA to expend the funds without fully establishing the internal controls that mitigate the risk of fraud, waste, and abuse, then-inspector general Sean O’Donnell told Congress in 2023. Trump fired ODonnell in January, along with more than a dozen other inspectors general. Acting Inspector General Nicole Murley has said she is looking into the Greenhouse Gas Reduction Fund. The Associated Press receives support from the Walton Family Foundation for coverage of water and environmental policy. The AP is solely responsible for all content. For all of APs environmental coverage, visit https://apnews.com/hub/climate-and-environment Michael Phillis and Matthew Daly, Associated Press


Category: E-Commerce

 

Latest from this category

11.03How do we ensure neurodiversity is not just a buzzword?
10.03Why were ushering in a new era in pregnancy health
10.03The challenges and advantages of managing global teams
10.03The next phase of social impact
10.03Climate fund sues Trumps EPA over frozen $7 billion grant
10.03FEMA cancels classes at national fire training academy over Trumps federal funding cuts
10.03Meow Wolf is bringing its immersive art experience to New York City
10.03Colossal says creating woolly mice is a validation step for de-extinction and could help eradicate diseases
E-Commerce »

All news

11.03US stock market loses $4 trillion in value as Trump plows ahead on tariffs
11.03Stock selloff extends to Asia on growth concerns
11.03Bank shares plunge 6%, more weakness likely
11.03D-St indices give up gains to end in red on weak global cues
11.03Why people are cutting back their online profile
11.03Rupee loses nearly 50 Paise in a day, closes at 87.33
11.03IndusInd faces Rs 2,000-crore net worth hit over derivative discrepancies
11.03How do we ensure neurodiversity is not just a buzzword?
More »
Privacy policy . Copyright . Contact form .