From internal planning documents to external media releases, a convincing piece of writing can be a key to success for business initiatives – and for the professionals who lead them.
Cornell’s Content Writing online certificate program, offered through eCornell, empowers students with techniques to present information succinctly and engage readers with actionable next steps. Lauren Chambliss, senior lecturer in the Department of Communication at Cornell’s College of Agriculture and Life Sciences, is the faculty author. Chambliss was a journalist for 20 years in Washington, D.C., before coming to Cornell. She previously served as director of communication for the Cornell Atkinson Center for Sustainability and now teaches full time.
In developing the certificate program, Chambliss noted a trend: Organizations expect professionals across career fields to take on – and excel in – writing-focused responsibilities. Recent studies on effective management, such as Google’s Project Oxygen, show that employers view strong communication skills as essential and closely associated with good leadership, no matter the sector.
“In today’s professional landscape, writing is not just a task for copywriters. It’s a valuable skill across various roles and industries,” Chambliss said. “Regardless of your job title, having a strong writing portfolio sets you apart, paves the way for career advancement and opens doors to leadership opportunities.”
Even standard presentations are being replaced with written content in some organizations. At Amazon, PowerPoint slides have been phased out in favor of six-page memos at executive meetings. The company’s leaders contend that the practice encourages employees to pack as much information as possible into their proposals, creating more convincing narratives.
Students earning Cornell’s Content Writing certificate complete two courses on conciseness and persuasiveness in copywriting and three courses on effective writing for digital contexts: websites, online media and social media. In addition to gaining an understanding of copywriting fundamentals, participants learn an increasingly important skill: content targeting. Students complete a variety of writing and self-editing exercises throughout the program, building toward a final project.
The program also offers a symposium: three days of live, interactive virtual sessions that enable students, Cornell faculty and industry experts to engage in real-time conversations about pressing topics in marketing and communications.
“Creating engaging, lively content across multiple platforms is critical in today’s professional world, whether you are a content creator, a business owner or a copywriter in a big company, government agency or non-profit,” Chambliss said. “Dynamic writing requires us to keep adapting and improving our skills.”
Cornell’s Content Writing certificate program prepares professionals to craft content that engages and persuades. Are you ready to discover current best practices for your business communications? Learn more and enroll now.
This story was drafted by eCornell marketing intern Justin Heitzman.
Imagine being able to transform raw data into actionable insights, shaping the direction of your business and your daily life. This power lies in understanding and applying statistics – the foundation of informed decision-making, the catalyst for impactful change and the key to unraveling the complexities of our world.
Cindy van Es, professor of practice at Cornell’s Dyson School of Applied Economics and Management and author of the Business Statistics certificate program, is expanding our comprehension of the study of statistics and its practical application in diverse fields. From agriculture to digital analytics, her work equips us with tools to navigate the complexity of both the corporate realm and our everyday lives, with statistics as our guide. Van Es shared her insights in the Keynote webcast “Statistics: What Everyone Should Know.”
How has statistics changed over the years?
“There are so many things after teaching it all these years, but . . . it’s present in every field these days. Even when I was going through education, it was very much the scientists, but it’s moved into so many fields now. The explosion I’ve seen over my career, from the very quantitative fields, to now: Every field has a metric. So it’s good to have a little idea of what goes behind some of these things.” What are some surprising ways statistical information is used?
“When I think about the kinds of jobs my former students have now, they work for Airbnb, or Expedia, or Hilton or in finance. Even in marketing, now: A lot of stores will track your eyes . . . to see how long you look at a product, and they can correlate that data with the scanner data to see whether you bought it or not, and did the red label make you buy it more than the blue label . . . . There are experiments going on all around you, even when you’re not aware of it. Maybe you work in a nonprofit and you’re doing an amazing job, and it’s a very meaningful project, but in order to get funding, you may have to quantify why it’s amazing: What are the outcomes, and what are the metrics? There’s so much now: It’s kind of ubiquitous.”
Which type of statistics is the most challenging to learn?
“Statistics has two branches: Descriptive and inferential. Descriptive is when you take a sample, you describe what you have and you ask the questions: Do I want to make a graph of this? Or do I want to make a table? Or calculate what we call ‘summary statistics?’ Most people are pretty good at that. Inferential is where you want to make an inference about a broader group, about a population. If you see a poll in the news, you’ll see a little plus-or-minus margin of error. That’s because they’re doing inferential statistics. When you see ‘this percent of people in the country think this,’ it’s based on a sample – so what you’re doing is making an inference. That part of statistics is a little harder for students and people in general, I think, because first of all, the language of inference is probability . . . understanding risk, understanding probabilities, the human mind really doesn’t think that way. So inferential is usually more challenging.”
Is artificial intelligence being used in statistical processes and interpretation of data?
“Each new technology – computers, and then supercomputers, and then desktops – influenced how people teach statistics and use techniques . . . . Now the merger is more with computer science and info science, as opposed to just being applied to agriculture, or medicine, or biology. Now the whole discipline is merging. Statistics hasn’t caught up with how to use [artificial intelligence] yet . . . statisticians are just starting to look at it.”
Harness the power of data interpretation in Cornell’s Business Statistics online certificate program. You’ll develop a dynamic set of skills that can heighten your confidence, fortify your decision-making, and catalyze meaningful change.
Drafted by eCornell writing intern Milan Lengyeltoti, with first round edits from marketing intern Justin Heitzman.
Modern societal shifts and emerging trends in the startup ecosystem present new challenges and opportunities for women, particularly for mompreneurs – those juggling the responsibilities of motherhood and entrepreneurship. The success of early-stage enterprises founded and led by women depends greatly on dismantling systemic barriers, including the uneven distribution of venture capital.
In the recent Keynote webcast “The Boss of Me: Entrepreneurship and Motherhood,” Andrea Ippolito – CEO of SimpliFed, director of Women Entrepreneurs Cornell, and lecturer in the university’s engineering management program – shared her experiences as a mother and businesswoman, delivering compelling insights into what it takes for women to thrive as working mothers in today’s competitive, fast-paced labor market.
How has the landscape of entrepreneurship changed for mompreneurs, particularly during and after the COVID-19 pandemic?
“What happened is that by forcing us to be at home, we showed folks that we can be effective and efficient, despite what some CEOs are saying. We actually saw an increase of women starting companies. When you look at 2019 compared to 2021, in 2019, there were a whole lot less women starting companies, 28%. Whereas during the pandemic, 49% of new companies were started by women. It was a much more flexible work environment.
Before the pandemic, it was all about meeting in person or working through stakeholder meetings in person. My journey looked a lot different than someone that was in their 20s, pre-kids, that could hustle 24/7. And don’t get me wrong, I hustle 24/7. My effectiveness and efficiency of working has always been pretty “right on” with having kids. But the time horizon has taken me a little longer.”
What are some of the largest hurdles working mothers encounter when trying to found a startup, and how does societal infrastructure play a part in this?
“The infrastructure is not in place to help support [founders], especially parents, whether that’s paid parental leave, universal child care support. There are so many things that we need to do as a society to better support entrepreneurs getting their organizations off the ground.
Startups founded by women are more profitable, and they exit faster. If you are an investor, it’s in your best performance interest for your fund to invest in women. If we want to have a more profitable economy, and we know that startups are the engine for that, then we need more folks participating. And the biggest pool of people we’re not taking advantage of right now is women. We need to rethink the structures to help support them.”
What are your secrets to striking a healthy work-life balance that comes with being a businesswoman and a mother?
“One of the things we see often is, especially for women that are parents, is they feel like they have to hide different parts of their life. For me, I have a five-year-old. I have a two-year-old and a T-minus five-week-old. And I don’t try to hide it. There are times where, yes, I don’t want them around because I want to focus 100%. But I also don’t try to hide it.
There’s this big misconception that people are taking off in the middle of the workday, and they’re not focused. The reality is that by giving folks a more flexible schedule, you actually get more out of them. They value their work. They’re aligned with your mission. But you’re also respecting them as a human being as well.”
Can you share your insights on the bias in investment toward women-led startups? How does this coincide with major life events like motherhood?
“We know that women [are] seen as less investable. There are tremendous biases out there, no doubt. And the research has shown that. One of the things that I feel very strongly about is that by the time a woman gets enough experience, expertise, and confidence, it’s around the same time that she’s having kids. One of the challenges is how do you start a company when you have this crazy unpredictable life of being a parent.
Venture capitalists have to raise money from somewhere. They have to raise money from what are called limited partners, or LPs. And those limited partners are pension funds, college endowments, sovereign wealth. And so we need folks like limited partners, like college endowments, to actually invest more in women-led funds.”
How can businesses better support working mothers, particularly with regards to incorporating child care into their business models?
“I think more and more, we need to have universal child care as a federally-funded entity. The companies that find ways to support child care or maybe fund it as a benefit will do better. And so I think there’s a responsibility of larger organizations to have this as a benefit. And then for, say, small businesses where they don’t have, frankly, those types of funds or resources, I do think [we need] a government federal response. It’s good for our economy. It pays for itself. It creates an engine in our economy.”
In a rapidly evolving entrepreneurial world, businesswomen are breaking down barriers, mastering the juggling act of work-life integration, and shaping business models to include family needs. Learn how to navigate a tech career as a woman leader in Cornell’s Women in Product certificate program, designed by Andrea Ippolito or gain a better understanding of funding models in Cornell’s Startup Funding and Finance certificate.
Imagine unlocking the secret to success in both business and day-to-day life. It’s all rooted in one critical talent: strategic decision-making – the essence of exceptional leadership, the engine driving meaningful change, and the spark igniting innovation.
Cheryl Strauss Einhorn, adjunct professor in Cornell’s SC Johnson College of Business, is a pioneer in shaping our understanding of this crucial skill. She is an accomplished author, educator, the creator of the AREA Method – a game-changing problem-solving approach – and the author of the Complex Decision-Making Cornell certificate program.
Her insights have reshaped how leaders steer their decision-making strategies and offer valuable lessons for navigating the complexity of the corporate world and your career.
Einhorn shared some key decision-making guidelines in a recent Keynotes webcast hosted by eCornell:
Understanding Strategic Choices
Einhorn believes that our problem-solving styles are behaviors with which we feel most adept and comfortable. She asserts, “we all have a comfort, a dominant problem solver profile. And we can all become more dynamic problem solvers.” This perspective champions the inherent adaptability within each of us to navigate different problem-solving styles.
The Adaptability of Problem-Solving Styles
Contrary to popular belief, problem-solving styles aren’t prescriptive. Instead, they offer space for adaptability and growth. Acknowledging our problem-solving styles provides a valuable opportunity for self-awareness and interpersonal development.
Einhorn defines five distinct styles of decision making that offer unique perspectives into the world of strategic problem solving:
The Adventurer: Einhorn describes the adventurer as “a very decisive decision maker. She knows what she wants. The future is endlessly more interesting than the present.”
The Detective: With a strong need for concrete evidence, the detective is “a slower decision maker because she wants to find data.”
The Listener: This style of decision maker is “relational, collaborative, trusting,” Eihorn said. “She emphasizes the importance of gathering input, and she likes to gather the wisdom and opinions of others.”
The Thinker: Someone who “values understanding the why and thinking about the different options.” This style represents a “thoughtful, careful decision maker.”
The Visionary: “A big, creative, out-of-the-box thinker.” Einhorn warns, however, that “this kind of decision maker could have a planning fallacy.” Visionaries can dream big and are often the source of innovative ideas, but they must stay grounded to avoid unrealistic expectations.
Decision-making styles are dynamic, changeable over time, and influenced by various factors such as age, experiences, and environments. For example, your style at work might differ from your style at home. Einhorn explains that you have the freedom to choose your problem-solving style based on the situation: “You could decide that you want to plan a meal as a visionary. You want to take a vacation as an adventurer. You want to buy insurance as a detective. And each of these opportunities are available to you once you understand the five different profiles.”
No “Perfect” Combination
Harnessing the power of strategic decision makers isn’t about achieving a “perfect” combination of problem-solving styles. The real value lies in understanding and leveraging diverse profiles to become more effective leaders.
Awareness of these profiles can offer insights into the kind of information each leader needs and highlight any cognitive biases that might obstruct effective problem solving. “You can learn what this means that you’re good at and the places where each of us might have mental mistakes that are most relevant to getting in our way. And then how we can make better choices together,” Einhorn said.
With this knowledge, we can fill gaps in perspective, ensure a more comprehensive understanding of situations, and contribute more effectively to collective problem-solving processes to foster strategic leadership and decision making.
In mastering the craft of strategic leadership, we pave our own route toward personal and professional achievement. Adopt an introspective approach and learn to leverage your unique problem-solving styles in Cornell’s Complex Decision-Making certificate program. You’ll gain a dynamic skill set to boost your confidence, empower your choices, and drive significant change in all aspects of your life.
Labor market shifts and workforce issues continue to challenge the hospitality industry due to the lingering effects of global travel restrictions and safety protocols during the COVID-19 pandemic. With decreased interest in hospitality jobs, many people exited the industry, creating a need for new talent and a push to bring back those who left. The profitability of travel and tourism businesses relies on how well hospitality leaders can address these issues.
In the Keynote webcast, “The Next 100 Years: Hospitality Workforce of Tomorrow,” industry experts J.D. Barnes, vice president of global workforce innovation and optimization at Hilton, and Katherine Grass, CEO of Optii, joined Cornell Nolan School of Hotel Administration faculty J. Bruce Tracey, professor of management; Vincent Slaugh, assistant professor of operations management and Tashlin Lakhani, assistant professor of management and organizations, to share valuable insights on adapting and thriving in the evolving landscape of human resources in the hospitality industry.
How have pandemic-induced labor market shifts transformed the landscape of HR in hospitality?
Barnes: “The emerging trends around greater flexibility, the reset from the pandemic, the rise of the gig economy – all of these considerations are things that are now impacting the labor market. At Hilton, we’re keen on embedding greater flexibility, choice and control, bringing in the best talent and modernizing some of the roles and assignments within our hotels to make them more appealing to different generations.”
Grass: “It’s all about how to keep these new entrants into hospitality happy. How do you train them? How do you make things very easy for them? How do you engage in ways that maybe, as J.D. was saying, they were used to in other industries and offering that flexibility. And sometimes the challenge of hospitality is offering flexibility in new ways because you don’t always have that work-from-home option.”
What are some ways hospitality HR professionals can attract and retain talent?
Barnes: “We have an ability to bring in students who might not have traditionally looked at our employment because they can’t give up an eight-hour shift when they’re working in between classes or managing a workload. For them what’s important is a four, five, six-hour shift, which is why they may have looked at gig endeavors. And then similarly, (we have) encore retirees and people who have left the workforce but want some level of flexibility in between their retirement to pick up a different level of work.”
Lakhani: “We really need to focus I think on the retention and the growth opportunities, telling the stories but also creating the stories, showing them that there are opportunities for growth and that they can see their colleague being promoted to positions, and that there is really a space for them to grow and have a lifelong career.”
Grass: “There’s all these different (talent) pools coming in who maybe are not familiar with hospitality, so how can you embrace them, how can you help them, how can you train them and bring them into the culture as quickly as possible?”
Which positions are first in line when it comes to redesigning work?
Barnes: “I do think that housekeeping, in particular, is one of the biggest areas in our hotels from a staffing perspective. If you look at the contribution that those team members make in terms of the guest experience and the amount of time they take in preparing a room, that experience is important.”
Lakhani: “Some of the most severe labor shortages are in housekeeping or in the back of the house – where we can’t create hybrid work.”
Barnes: “The more information we can gather ahead of the arrival of the customer, the more we can infuse that into the actions that our team members take in delivering that service and experience. Technology is playing a big part in making sure that it’s seamless, that it’s fast, and that the preferences are known.”
What are the influences of AI and other technologies on hospitality management?
Barnes:“We’ve incorporated AI from a training perspective in our ability to use virtual reality in helping team members understand what their duties are, how to personalize services, the sequence of steps and things like that. It’s really interesting for us to think about how we’ve morphed training across some of our hotels.”
Slaugh: “I think we completely miss frontline service work as a domain for analytics. There’s a lot of opportunity for growth. In recent years, I’ve worked on a hotel’s housekeeping scheduling problem. And that’s just a new model for our field.”
Barnes: “Things like text messaging recruiting. A lot of this AI technology is coming in here. Being able to schedule a candidate and say, hey, come in three days. We’ll be able to interview you in person. We’ve got to modernize a lot of that approach to recruiting.”
Grass: “Just even the diversity on the language front when you are managing departments: There can be a dozen languages spoken, so how does your software in real time translate conversations for them? We ensure that we do inline and real-time translations so that if a team leader is communicating something in Spanish, everyone is receiving that in their (preferred) language. All those communications are happening in real time. It’s giving that sense of community and ensuring that everyone has a voice and can make that voice be completely understood.”
How can leaders in hospitality increase the industry’s appeal?
Lakhani: “We’ve seen innovation. We’ve seen compensation go up. But I think there’s still work to be done in terms of changing the perception of what it means to work in hospitality.”
Grass: “When you have this personal connection and personal interaction, (you ask) how can the technologies help me eliminate or simplify the rinse-and-repeat that gets a bit monotonous, especially for people who are new to an industry and step in and say, ‘Oh, this is really kind of same-old, same-old every day.’ How can you smarten up and remove that monotonous bit to allow people to have more quality time to interact with the guest in better ways?”
Barnes: “The greater desire is for us to continue to emphasize that life doesn’t have to fit into work, that work should fit into your life. And so enabling that functionality, enabling that choice and control for our team members across all our hotels. It’s also the flexibility of allowing that choice and control for the team member and for them to inform us about what works for them.”
Explore Cornell’s hospitality certificate programs to gain an edge in today’s transforming industry and prepare for the workforce of tomorrow.
With the swift expansion of artificial intelligence, automation tools are now readily available to corporations and consumers alike. Companies are integrating new technologies to avoid falling behind their competition and appearing out of touch with trends that matter to their employees and customers.
But the steps to incorporate and embrace emerging tech can be challenging. Expert faculty from the Graduate School of Management at Cornell’s SC Johnson College of Business identified four best practices senior executives can employ to capitalize on advancements in AI and dodge common pitfalls.
1. Innovate early – with startup partners.
In its 2022 Global AI Adoption Index, IBM reported that 35 percent of companies were using AI and 42 percent were exploring AI for future implementation. Findings from Grand View Research indicate this tech adoption will drive the market size to $1.8 billion in revenue within seven years. To remain competitive in this environment, leaders can collaborate across companies to use AI in ways that set them apart from major rivals.
Swift changes in tech-driven markets demand innovation and adaptation, but many businesses are optimized to resist change rather than embrace it, leading to fewer risks – and rewards. The hesitation to adopt can be a danger to the bottom line.
“Executives can avoid this stumbling block by implementing agile methods and building mutually beneficial partnerships with startups driving innovation in their areas of need,” said Stephen Sauer, senior lecturer of management and organizations and Entrepreneur in Residence for the college. “Established companies can benefit from the tech experimentation that is more common in newer businesses while giving these partners the wisdom of experience.”
Karan Girotra, Charles H. Dyson Family professor of technology and management, adds that when tech advances rapidly in times of political and socioeconomic uncertainty, leaders can underestimate the rate of change and overestimate the ability of past expertise in helping them tackle the environment.
“Executives need to adopt a learn-it-all, not a know-it-all, mindset. Leaders need to embrace smart, cheap and fast experimentation to try out many new initiatives and learn fast,” Girotra said.
2. Choose accuracy over convenience.
Information may be more accessible than ever, but discerning fact from fiction grows more difficult each day. The convenience and speed of generative AI make it easier for audiences to accept and share information without examination. However, the perils of using incorrect data, which range from operational shortfalls and security threats to public relations crises and financial losses, can ruin organizations.
“The increasing amounts of misinformation with which we are all confronted today – including from AI errors – can undermine our problem-solving efforts,” said Risa Mish, professor of practice of management. “Now, more than ever, leaders must be able to guide their teams in understanding what we know versus what we are assuming we know.”
According to Mish, AI exists to help us tackle complex issues in a way that balances efficiency, thoroughness and accuracy, but leaders should be willing to learn how to apply the technology responsibly.
“Corporate decision-makers should first work to comprehend core AI concepts. Then start with small-scale projects to test the tech in their operations,” Mish said. “This requires leaders to build cross-functional teams that understand the organization’s strategy and can align AI with goals.”
3. Recognize your biases.
Incorporating machine intelligence into business operations may require leaders to reassess their approach to corporate ethics. AI systems operate on data provided by humans and can perpetuate prejudices as a result. If not carefully monitored, this can lead to unfair outcomes for workers, customers and other stakeholders.
“Leaders need to be aware that we are all susceptible to biases which can negatively impact our decision-making and behavior. We naturally look for, remember, favor and interpret information in a way that confirms our previously held beliefs or values. We also discount or reject information that runs counter to these beliefs and values,” said Michelle Duguid, associate professor and associate dean of diversity, inclusion and belonging.
While AI can expedite decision-making for hiring, business forecasting, surveillance and more, Duguid encourages senior executives and their teams to take precautions against complacency. Instead, firms can develop quality assurance processes to ensure automated outputs meet their corporate standards.
“Senior executives need to be able to think strategically about potential risks and challenges, and make informed decisions that align with the company’s overall goals and values,” said Sauer. “Strategic thinking is a team effort, and the more leaders are able to build teams with diverse opinions and experiences – what we call ‘heterogeneous task cognition’ – the more successful they will be in combating any biases that might creep in with the use of AI and other digital technologies.”
4. Use AI as a supplement, not a replacement.
More than 40% of business owners are concerned about an overdependence on AI, according to a recent Forbes Advisor survey. Automation has the potential to replace human workers in certain roles, leading to job displacement, changes in employment patterns and economic disruption.
“Advances in AI and other digital technologies present businesses with a once-in-a-generation opportunity to reinvent their products and processes,” said Girotra. “At the same time, there are several pitfalls – technologies that do not live up to their promise, new business models that have no feasible path to profitability, the large negative externalities that these innovations place on society. Businesses that blindly embrace these opportunities, or those that are paralyzed by the pitfalls, are unlikely to survive.”
Looking at AI as a tool with capabilities and limits, and creating a builder culture, Girotra says, is key in taking advantage of the opportunities.
Elizabeth Mannix, Ann Whitney Olin professor of management agrees. “When leaders have self-awareness of their own strengths and weaknesses – and they are cognizant of their impact on others – they can lead with intention and create an environment in which their team members can thrive alongside AI.”
Faculty from Cornell University have designed online certificate programs on a variety of in-demand leadership, technology, business and finance topics, including change management and digital transformation. An AI strategy certificate from the SC Johnson College of Business is also available online through eCornell.
In 2020, hiring for diversity, equity and inclusion roles surged. According to the Society for Human Resource Management, three years later – amid recession fears – companies are cutting DEI leadership positions at a rapid and disproportionate rate, leaving practitioners to seek new ways of continuing efforts to create welcoming work environments.
Dialogue for Change, a new online certificate program from Cornell’s School of Industrial and Labor Relations and the Intergroup Dialogue Project (IDP) delivered through eCornell, provides a fresh approach to DEI for team managers and supervisors, executives and all employees interested in building equitable cultures.
“The certificate focuses on four key development areas: human connection, social identity, intergroup communication and strategic change,” said Adi Grabiner-Keinan, executive director for academic DEI education and director of the IDP. “Our goals are to develop participants’ awareness around the four development areas and to strengthen their capacity to make meaningful change at personal, interpersonal and institutional levels.”
Together with Lisa Nishii, vice provost for undergraduate education and professor in the Cornell ILR School, Grabiner-Keinan is co-author of the Dialogue for Change certificate. The duo intends for the program to help professionals promote sustainable institutional change no matter their position on the organizational chart.
In three courses – Counteracting Unconscious Bias, Dialogue Across Difference and Strategic Influence – participants learn and practice skills for intentional connection and communication, and examine ways to impact change in different spheres of influence, including within their teams and organizations. These skills, according to Grabiner-Keinan, are crucial well beyond the field of DEI.
“Skills such as active and generative listening, strategic questioning, purposeful sharing, perspective-taking, withholding judgment and questioning assumptions allow us to lead, communicate and collaborate effectively,” Grabiner-Keinan said. “They enable us to broaden our perspective, learn from a variety of people and situations, bring people together, think creatively and create meaning and vision. Unfortunately, such skills are seldom taught in schools or colleges.”
Dialogue for Change engages students in weekly live sessions. Trained IDP facilitators guide participants through practice conversations within small groups of experts and peers. Each dialogue builds on earlier coursework, enabling the cohort to use new knowledge in real time. Students who complete the program earn professional development credit hours toward human resources and project management certifications.
Each student who earns the Dialogue for Change certificate, Grabiner-Keinan says, will recognize their power to foster inclusion, connection and equity in any role. “An integral part of this program is to identify the agency and responsibility that each of us has. It’s true that leaders and supervisors have more power in institutions, but this program helps people understand that they all have power to make change interpersonally and institutionally within their workplaces.”
Nearly everyone agrees that the crypto asset market needs more robust regulation, but there is much disagreement about what the laws should look like as well as who should be legislating and enforcing them.
One key concern is whether crypto assets are commodities or securities, which raises crucial issues about which governing organization should be responsible for oversight and enforcement. Additionally, laws are struggling to keep pace with technological innovation, thereby increasing the potential for scams, fraud and poor practice.
In the U.S., there are several regulatory bodies overseeing crypto assets. Does this make sense, and if not, why?
It’s referred to as the regulatory alphabet here in the United States: SEC (U.S. Securities and Exchange Commission), CFTC (Commodity Futures Trading Commission), OCC (Office of the Comptroller of the Currency), CFPB (Consumer Financial Protection Bureau). It’s a reflection of the way in which we think historically about how to regulate the industry. The problem is that over time the historical distinctions have fallen away. What may or may not be a banking practice can now pop up in the securities industry. The way we think about regulation and the industry has changed over time, largely reflecting the innovation in the industry itself. Crypto is highlighting a fundamental flaw with the U.S approach to financial regulation, which is that we don’t have a central regulator.
There needs to be a focus on anti-fraud. There needs to be a focus on protecting consumers. The real debate is who is going to do this. I would suggest it’s the SEC.
Why is the SEC uniquely positioned to oversee this?
The SEC is a consumer financial regulator. Their fundamental goal is to protect consumers. They were set up with a view toward protecting retail investors. The regulations that the SEC has for broker dealers, exchanges and people that take custody of these assets were intended to protect investors against the things that you see with FTX: people losing money and the scams that are out there right now. The SEC already has a toolkit, and it makes sense for the SEC to pick this up.
Is crypto more like a currency than a security? It seems like that is how it’s being used or advertised. Why not categorize it that way?
If I were taking crypto and buying a sandwich with it, that would look much more like a currency. That is something that really doesn’t need the protections of the securities laws. To the extent that it’s being used as a way to promote investment, it begins to look a lot more like a security.
Crypto assets are used primarily as speculative investments, which is not in line with the stated vision of most projects out there. How should regulators navigate this?
The whole rationale behind crypto assets was decentralization — a way to create a non-centralized, non-government-controlled medium of exchange across multiple parties. The vision was that it would provide banking attributes without necessarily having a bank, that you’d be able to use crypto assets as a means to support parts of the community that otherwise were not being properly supported by the financial industry. That’s largely not been the case. You can argue that in some cases people pursuing crypto deals are taking advantage of the folks that crypto initially was intended to support.
There will come a time when crypto will begin to look more like a commodity or more like a currency. In that case, the need for regulation drops away. We’re just not there yet. There should be a regulator focused on consumer protection precisely because of the scams.
One of the throughlines here is technological innovation. Law is unable to keep pace, and that creates an environment with increasing potential for fraud like what we saw with Sam Bankman-Fried, the founder and CEO of the cryptocurrency exchange FTX.
FTX is a huge blow to the integrity of the industry just because FTX was viewed as the safe place in which you could do trading activity. The other part is it was done offshore in the Bahamas, so it was being done away from the direct regulatory oversight that you might otherwise see. A large part of what was happening there would have been either prohibited or regulated were we to treat these underlying instruments as securities.
You can’t trust the markets to police themselves. This is a common view that the market will police itself, and that if there had been a problem with FTX, it would have been uncovered much earlier because the market or participants in the market would have seen this. In an enthusiastic market like crypto, you don’t see that type of oversight.
As of August 2022, whitehouse.gov. tells us that the estimates of the total global electricity usage for crypto assets are between 120 and 240 billion kilowatt hours per year. Is there any push to regulate this side of things?
There already are rules in place and government groups like the Department of Energy and the Environmental Protection Agency that have the ability to step in, look at the issues and potentially regulate the usage of electricity, consistent with their mandate for environmental protection and energy conservation.
I would ask not whether we should look at this but whether we’re being broad enough. If electricity is an issue and energy is an issue for crypto, let’s look at the New York Stock Exchange and stocks and bonds that are trading. I believe there are huge amounts of energy being expended there as well.
The rapid pace of workforce transformation is pushing human resources leaders to adapt for employment trends that have earned catchy monikers — the Great Resignation, quiet quitting and stay interviews. Yet, other underestimated developments are already impacting the dynamics of work.
Expert faculty in Cornell University’s School of Industrial and Labor Relations (ILR School) identified five HR trends that will drive change for companies in 2023.
The pandemic reminded us that, in an instant, anything can change. The exact timing differed for each of us, but we can all remember the moment in 2020 when we felt the world shift. Many in-person classes and jobs transitioned to remote status, as we sought to limit the spread of the virus by staying home. Everything from spring break plans to the Summer Olympics was cancelled or postponed. As career and personal plans were put on hold, our sense of control over the future wavered.
Eighteen months later, as many of us plan for a return to in-person work, Cornell has offered its employees a wealth of resources to help with this next big transition. On June 24 and 25, the university hosted a webinar called “Managing the Anxiety of Returning to Onsite Work.” Dr. Gabriel Tornusciolo, assistant director of the Cornell Faculty and Staff Assistance Program (FSAP), shared strategies and tips for coping with anxiety around returning to the workplace.
Whether or not you’re experiencing anxiety about returning to the office, I highly recommend taking an hour to watch. This gave me deeper, valuable insights into the diversity of concerns and sparked some reflection on my own situation. I hope you find it useful too.
—Chris Kelly, graphic designer at Cornell
“Some truths” slide from FSAP webinar
On June 24, eCornell hosted Transforming Our Lives Through COVID-19’s Lessons, a keynote focusing on the larger societal shifts which occurred as a result of the pandemic. Four thought leaders from the Cornell Institute for Healthy Futures (CIHF) highlighted some of the lessons we’ve learned and how these lessons might inform the future. The speakers shared key takeaways from their research on how the pandemic has changed the way we think about work, health, equity, and working and living spaces.
As you envision your own return to in-person life, we hope you find value in these tips and insights from Cornell experts.
Making matters more certain
Screenshot of Gabriel Tornusciolo, assistant director of FSAP
Dr. Gabriel Tornusciolo began his talk by reminding the audience about the fears many of us had at the start of the pandemic: Would our families be safe? Would we have enough PPE? Would we lose our jobs? Gabriel pointed out that concerns about our survival and security are near the base of Maslow’s hierarchy of needs. Only when these basic needs are met can we move on to addressing needs around self-fulfillment, such as making a career pivot or finding new opportunities for self-growth.
Gabriel asked viewers to think about the big challenges they faced in March 2020 and compare them to the current challenges of returning to work. “If you think about your safety then and now and the demands on you then and now, which is more challenging,” he asked, “leaving or coming back?”
People may want to avoid the workplace, but avoidance over time increases anxiety.
—Gabriel Tornusciolo, assistant director of the Cornell Faculty and Staff Assistance Program
“The power of avoidance” slide from FSAP webinar
Gabriel explained that over the past year and a half, many of us have become accustomed to working from home, and that has become our new normal. “The office is a place that was once ordinary but is now challenging,” he said. “We’re being asked to change again. People may want to avoid the workplace, but avoidance over time increases anxiety,” he added.
To counter our tendency to avoid risk (and the workplace), Gabriel suggested a technique known as habituation, or prolonged exposure to that which makes us anxious. “It’s better to start off and decide not to avoid,” he said.
Taking five steps forward
Gabriel shared five strategies to help employees manage their anxiety and ease back into in-person work. The five steps are:
1. Define what is making you anxious
“We got used to it” slide from FSAP webinar
Gabriel said it sometimes take a bit of digging to figure out what the underlying issue is. Possibilities include fear of losing your job, fears for your safety, fears around loss of freedom, or fears around the meaningfulness of your work. “As you worked from home, you had to consider your values,” he said. “What do you truly want from life? I suggest that you ponder this a bit,” he suggested.
2. Define the landscape of your workplace
“Landscape” slide from FSAP webinar
This includes your work hours, the layout of the physical space, measures to ensure worker safety, and employer policies about medical leaves and working from home. Gabriel encouraged viewers to access reliable information to help manage your anxiety, from sources like employer websites and supervisors. Gabriel suggested that employees write an email to their supervisors to share their concerns and potential solutions. He advised employees to “be prepared with concrete suggestions,” and supervisors to “create real two-way communication,” involving candid conversations and active listening.
3. Define a roadmap for your return to work
“A good plan” slide from FSAP presentation
Gabriel encouraged viewers to be like Spock on Star Trek, and “lean into your curious, cognitive, intellectual side as you examine whether there’s any proof to back up your fear.” He suggested making a plan that includes exposure to the various components of a typical workday. “Begin to experience your onsite workday now,” he said. “Take the bus or drive to the parking lot, dress in work attire, visit the office to see the space. Identify points of anxiety and you may come up with some simple solutions,” he added. For example, if you’re worried about making lunch without having access to your home kitchen, Gabriel suggested thinking through how to bring foods you enjoy to work.
3. Find the good in returning to onsite work
Analysis of collaboration activity across Microsoft 365 tools from February 2020 to February 2021, from Microsoft’s report, “The Next Great Disruption Is Hybrid Work—Are We Ready?”
Gabriel also recommended that everyone incorporate what he called “healthy distractors,” such as a favorite Netflix show, talking with friends, and exercise into each day. “It’s really important to exercise,” Gabriel said. “It blunts your stress response. If you can work out in the morning, you have a better chance of managing your anxiety throughout the day.” He also suggested trying one of the many meditation and relaxation apps, and, last but not least, he reminded everyone to “show kindness to one another, and we’ll get through this much better.”
Screenshot of presenters from eCornell June 24 keynote
Late in 2020, a few faculty members at the Cornell Institute for Healthy Futures began reflecting on life in the aftermath of the pandemic. Working independently, each of them recognized that the difficult realities of COVID-19 and social justice issues in the U.S. have deeply impacted us as individuals, as families, as communities, and as workers. These experts examined their own sectors and began writing about emerging trends. As they shared their notes with CIHF colleagues and board members, they saw broad areas of overlap.
“We were doing exactly what we founded the institute to do,” said Mardelle Shepley, executive director of CIHF and Janet and Gordon Lankton Professor in the Department of Design and Environmental Analysis in the College of Human Ecology (CHE), “(which is) using these disciplines simultaneously to solve big problems in the world.” The CIHF faculty joined forces to draft two papers summarizing their findings, which they hope to publish soon. Here are a few takeaways from their research.
Better built environments: Mardelle Shepley
Screenshot of Mardelle Shepley
Mardelle Shepley’s research focuses on the impact of the physical environment in healthcare, hospitality, and senior living settings. Mardelle said that the pandemic quickly highlighted shortcomings within healthcare settings, like the need to increase space available for storage of PPE and delivery of vaccines, and to increase access to outdoor areas for both testing and destressing.
“The concern is that we’ve become so tech focused, we’re losing our humanity,” she said. One way to counter this is “giving people the opportunity to interact with or view nature, by stepping outside for 15 minutes,” she explained.
We were doing exactly what we founded the institute to do, (which is) using these disciplines simultaneously to solve big problems in the world.
—Mardelle Shepley, executive director of CIHF
Emerging needs in hospitality settings include how to incorporate robots, better accomplish cleaning, provide safe wellness opportunities, find alternative uses for hotel spaces, isolate family members as needed, and provide contactless food services.
Mardelle said that senior living facilities are “the ultimate platform for bringing hospitality and healthcare together.” She cited the need to reimagine these spaces in the post-pandemic era to provide visiting rooms that allow families to maintain relationships without endangering one another, common spaces that reduce clustering among residents, and circulation routes that reduce the number of people passing back and forth.
She advocated for integrating end users into the design process so that the facility reflects their perspectives and needs. “We need to get the right information to begin with, to make sure we do it right in the end,” she said.
Better working conditions: Nicolas Ziebarth
Screenshot of Nicolas Ziebarth
Nicolas Ziebarth, associate professor of Policy Analysis and Management in CHE, is a labor economist and leading expert on paid sick leave. Nicolas said that many employers don’t offer this benefit, but he anticipates that in the aftermath of the pandemic, “employees will demand this to care for their children. Other countries are doing this,” he added, “and the U.S. needs to, too.”
He noted that people who are not satisfied with their workplace flexibility and fringe benefits are now more likely to quit. “They have the bargaining power to ensure they are happy at work,” he said. Nicolas also forecasts that we will travel less and do more from home. “It’s cheaper, environmentally friendly, and convenient,” he said. He views this moment as a great opportunity to increase equity and improve everyday working conditions.
Nicolas pointed out that virus variants will continue to emerge, and that “COVID-19 will not go away.” He noted that we have learned a lot about how diseases spread, and he believes that this knowledge will result in more interventions to stop the spread. Nicolas predicts lasting changes in workplaces, including growing unwillingness to allow employees to come to work sick.
“There will be a change of behaviors and norms that will require more distancing in labor and healthcare, and more mask wearing,” he said. He also said that “the time is ripe for productive discussions around vaccine hesitancy,” among employers, employees, and clients, as they try to find solutions together. “The pandemic proved that telemedicine works,” he added, and he thinks that, moving forward, a significant share of medical appointments will be done via telemedicine.
Better food systems: Heather Kolakowski ’00
Screenshot of Heather Kolakowski ’00
Heather Kolakowski ’00 is an alumna and lecturer in Food and Beverage Management at the Cornell School of Hotel Administration. During the pandemic, Heather turned her expertise in the food and beverage sector to focus on increasing access to healthy food. “Many families need support,” she said, citing data showing that one in eight Americans accessed SNAP benefits in February 2021. “I anticipate levels will stay high,” she said.
“What can we do policy wise?” she asked. She noted that the federal government extended free school lunches through this summer, and that conversations are ongoing about making school lunches free year-round. She also noted the rise of mutual aid societies, where neighbors help neighbors by stocking food cabinets in their communities.
To pay workers a fair wage and offer better benefits to the humans who work for and with us, there is a cost involved.
—Heather Kolakowski ’00, lecturer in Food and Beverage Management at the Cornell School of Hotel Administration
Due to concerns about personal safety, low wages, and long hours, Heather said that many food industry workers are reluctant to return and are instead choosing other types of work. “To pay workers a fair wage and offer better benefits to the humans who work for and with us, there is a cost involved,” she said. “This is an opportunity to disrupt the industry and make changes, like abolishing tipping and creating a fair wage across the board,” she added.
Heather sees potential for the ex-offender population to transition into the hospitality sector. “We need to give populations that have significant barriers to employment the tools they need, and create pipelines for individuals who want to change their lives. It’s kind of like dating,” she explained. “What are the unspoken rules of engaging with mainstream employers? You need to get to know their expectations. In the past, organizations didn’t want to invest the time in this transition process,” she said, “but now we have to.”
Better things to come at Cornell: Brooke Hollis MBA ’78
Screenshot of Brooke Hollis MBA ’78
Brooke Hollis MBA ’78 is co-founder and executive director emeritus of CIHF and has worked in both the public and private sectors, serving in senior management positions in health and financial advisory consulting. Brooke moderated the panel and called attention to the new Cornell Jeb E. Brooks School of Public Policy, which will investigate many of the issues discussed in the keynote. He noted that Cornell students have access to the data produced by the institute’s multidisciplinary experts and invited viewers to keep abreast of the latest CIFH news on Twitter (@Cornell_ihf).
Screenshot of Michelle Artibee, director of workforce wellbeing at Cornell
Michelle Artibee, director of workforce wellbeing at Cornell, says to expect that it will take time to adjust to working in-person. “The amount of time needed will vary,” she says. “Before returning to the routines of February 2020, consider the newer habits you’ve developed and what good things you will carry forward,” she suggests.
These two articles from Weill Cornell Medicine (WCM) provide some additional tips to support your physical and mental health during this time of transition.
Going back to working out—no matter how fit you were—should happen slowly, says Asad Siddiqi, DO, sports medicine physician and assistant professor of Clinical Rehabilitation Medicine at WCM.
You’re fully vaccinated, New York is reopening, and life is getting back to normal. Instead of joy, you feel overwhelmed, stressed, and can’t stop asking yourself: How should I behave around others? Get tips to manage your anxiety from Dr. Susan Evans, professor of Psychology in Clinical Psychiatry at WCM.
Imagine unlocking the secret to success in both business and day-to-day life. It’s all rooted in one critical talent: strategic decision-making – the essence of exceptional leadership, the engine driving meaningful change, and the spark igniting innovation.
