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How to impress over a business lunch…

Picture the scene. You’ve got an important business lunch coming up. You want to make a good impression on the person you are meeting with. What should you eat for lunch?

A recent study published in the Journal of Consumer Psychology has some interesting findings which indicate that if you have an important business lunch, there are various benefits to ordering the same food as the person you are trying to impress.

Scientists from the University of Chicago studied nearly 500 people to identify whether eating the same food helped them agree in negotiations.

The researcher’s conclusion was that people who are served the same food are more likely to trust each other, smooth out problems and make deals.

As part of the study, participants in the research were told to imagine they were “investors” who had to decide whether to invest in funds operated by their “fund manager” eating partners. The researchers found that those people who were served similar food invested more money.

Another interesting finding in the study was the link between food consumption and the effectiveness of advertising. The authors said that “consumers are more trusting of information about non-food products – e.g. a software product – when the advertiser in the product testimonial eats similar food to them”.

Back to the business lunch though and although the research found that there are benefits to ordering the same food as the person you are trying to impress, I’m not sure that if you’re wearing a nice clean white shirt to the lunch meeting you should necessarily follow the other person in ordering that “tricky to eat tidily spaghetti with the sloppy tomato sauce”…

I never emailed you…

Sometimes it’s the simple scams that can cause the most damage.

We hear all the time about ignoring scam phishing emails where fraudsters are pretending to be banks to get online bank account log in details but there’s a new scam involving email which is costing some people a lot of money.

The Art Newspaper reported that at least nine art galleries and art dealers have been caught up by the fraud. The amounts lost to the fraudsters have been significant with amounts ranging from £10,000 to £1 million.

The fraud itself is fairly simple.

The fraudsters hack into an organisation’s email system and look out for emails sending invoices to clients.

For example, if an art dealer has made a sale of a piece of art and then emails the invoice through to the customer for payment, the fraudsters send another email straight after the original email.

This second email looks like it’s come from the art dealer and includes an identical invoice with the only exception being it has a different bank account on it for payment of the invoice. Yes, you’ve guessed it but the bank details on the second invoice are not those of the art dealer but instead are details of a bank account in the name of the fraudsters.

The customer innocently pays the invoice as it looks genuine and as soon as the money is received the fraudsters withdraw the money, close the bank account and are never heard of again.

As far as the art dealer is concerned they are waiting for the payment to be made but the customer has already paid the money but to the fraudster. By the time the fraud is discovered it is too late.

There’s a fairly simple solution to this and ensuring that anti-virus programmes are up to date and email passwords are changed regularly will go a long way in preventing this sort of fraud.

Does this help you concentrate?

The Journal of Consumer Research published the results of five experiments into how the level of background noise can impact on performance when someone is working on creative tasks.

The  results are interesting and in simple terms found that a moderate level of ambient noise is better for enhancing performance on creative tasks than both low levels and high levels of ambient noise.

Or put another way, people are more likely to be able to work creatively if there is a medium level of ambient noise compared to where there is silence or loud noise in the background.

So, what lessons can we learn from this if we’re studying?

Whilst the optimum situation and level of background noise is very much a personal preference the science behind it could indicate that we should head somewhere with a mid level background noise.

Now, where could we find such a place?

Well, the local pub around the corner has a great mid level background noise as far as I’m concerned but there are some liquid distractions that will harm studying.

What about a coffee shop or cafe? Again, there would be some great mid levels of background noise but you’ve got to get there and what happens if you don’t find a seat. All of this will dig into your valuable study time.

Well, up step the fantastic website coffitivity.com which enables you to play background coffeeshop noise on your computer whilst you’re studying.

You can’t order a Cafe Latte or Cappuccino but in my opinion it’s a great tool for those who like to study with a non intrusive background noise.

It’s also excellent for people who don’t have any friends to go to the coffee shop with.

Just to be a bit different I’ll eat…

What do you fancy for lunch today?

Do you want your usual lunch or would you like something a bit different?

A survey by New Covent Garden Soup found that office workers tended to show a complete lack of imagination when it came to lunch with most of those surveyed choosing the same lunch as they had yesterday.

More than 75% of workers who were surveyed had eaten the same meal for lunch for the past 9 months.

The most common lunches were sandwiches with the top 3 being ham in first place followed by cheese and then chicken. In 4th place was salad.

Yep, three quarters of people had eaten the same sandwich for 9 months.

In what was without a doubt, not a surprise, over 80% of respondents to the survey said they were “bored” with lunch.

Becky Spelman, a psychologist said that “eating the same thing every day means we risk not getting a wide enough array of nutrients, as well as simply being very monotonous. Making small changes, such as trying something new for our lunchtime meal, can – in a small way – help to open our minds to new experiences in other areas of life too.”

In summary, if you’re heading out to buy your lunch now and you’ve been eating the same ham sandwich for the last 9 months then maybe you could go for something dramatically different like a tuna sandwich instead…

Would you do this for a bit of chocolate?

What’s one way of increasing the chances of getting hold of someone’s password?

Does it involve the use of the very latest supercomputer? Does it involve some clever IT geeks hacking into a computer for you?

Or does it involve chocolate?

A bit of research published in the journal Computers in Human Behaviour attempted to find out how people are obligated by the kindness of others. Or in other words, if someone does something nice for a person, how likely is it that the person will be nice back to them?

The researchers in Luxembourg conducted a survey of random people in the street asking them about internet security including questions about passwords.

Some of the people interviewed were given chocolate and some weren’t.

30% of those that were not given chocolate revealed their passwords which to me is a surprisingly high percentage and just goes to show that quite often human stupidity is the weakest link in internet security.

For the people who were given chocolate at the beginning of the interview the figure rose to 44% and if the chocolate was given just before the question on passwords was asked an incredible 48% gave their passwords! Yes, nearly half of the people asked their passwords as part of a survey told a complete stranger their password if they had been given chocolate.

Andre Melzer, the author of the study said that “when someone does something nice for us we automatically feel obliged to return the favour”.

So, in conclusion, if someone walks up to you in the office and offers you a piece of chocolate be careful what you say…

Pass the biscuits…

Does your weight affect the amount of money you earn?

That’s an interesting question and researchers from the universities of Strathclyde in Glasgow and Potsdam in Germany have come up with a potential answer.

They analysed data from nearly 15,000 working men and found that men within that the recommended Body Mass Index (BMI) health range earnt more than those who were outside of the range.

Individuals who were underweight on the body mass index were found to earn 8% less than those who were in the top end of the healthy bracket. They found that the effect was more prominent in manual jobs where no doubt the extra strength of the guys in the healthy weight bracket helped increase their earnings.

What was perhaps surprising though was that there was also a difference in earnings in white-collar office jobs. They found that in the more middle-class occupations the rewards peaked at a BMI of around 21.

It wasn’t just men who were impacted though. The study also looked at the weight and earnings of 15,000 German women and found that the slimmest earnt the most and the obese the least.

Jonny Gifford, of the Chartered Institute of Personnel and Development was quoted in the press as saying “it is depressing that, in this day and age, looks are in any way a factor in how much people are paid”.

I have to agree with him as organisations should employ people on the basis of their abilities as opposed to how heavy they weigh.

Anyway, best dash as I’ve got a packet of biscuits to finish…

You’re fired…

How many CEOs of top global companies were replaced last year?

Well, the answer may surprise you and what also may surprise you is the reason they lost their job.

PwC have been keeping track of the movements of the CEOs of the largest 2,500 global publicly listed companies since 2000 and the most recent data for 2018 has been released and it shows some interesting things.

In 2018 the number of departures of CEOs reached a record level with nearly 18% being replaced (up from 12% in 2010).

It was the reason for their departure though which raised some eyebrows.

CEOs can leave their jobs for a variety of reason and PwC categorised the reasons as planned (e.g. they were due to retire), forced (e.g. they did something a bit “naughty”) or M&A (e.g. they were no longer needed due to a merger or acquisition).

The latest split showed the 18% of departures as:

Planned – 12.0%

Forced – 3.6%

M&A – 2.0%

Digging a bit deeper though into the forced departures shows some worrying reasons.

Historically the main reason CEOs were forced out was due to poor results but for the first time the largest group of CEOs forced out was due to integrity reasons.

In 2018, 39% of those forced out were due to integrity reasons. Ten years ago in 2008 the corresponding figure was only 10%.

These integrity issues could include scandals such as improper conduct, fraud, bribery, insider trading, environmental disasters, misleading CVs, and sexual indiscretions, according to PwC.

So, in summary more CEOs are being fired and the main reason is integrity issues.

All in all, a pretty poor performance…

Dog seized to pay tax bill…

It’s always best to keep up to date with your tax affairs. Although most people don’t enjoy paying their taxes, it’s the law and if you don’t pay there can be serious consequences.

Over in Germany reports have emerged that make it fairly clear that you don’t mess with the German authorities when it comes to taxes.

An unnamed lady was behind in paying her taxes.

The authorities sent a debt collector around to collect whatever assets the family had to settle the tax liability.

According to the lady in question, two valuable items were identified.

One was the wheelchair of her paraplegic husband. Now, before even getting into the rights and wrongs of taking a disabled person’s wheelchair to settle debts, luckily for the family it was not an issue as it turned out that it was owned by a local association and was not the property of the family so the debt collectors couldn’t take it.

The authorities though have denied they tried to take the wheelchair and a spokesman said “Mobility aids for the disabled are absolutely exempt from being seized as collateral.”

One item though which was not exempt from being seized was the family pet.

Alas for Edda, the family dog, she was taken by the debt collector.

Edda is a pug and they are a pretty fashionable dog breed at the moment and the debt collector took the dog as settlement for the debt.

Edda was then listed on eBay and was sold to Michaela Jordan, a local police officer for €750 (approx. £650).

There’s a twist in the “tail” though in that the new owner has now sued the local authorities who sold Edda as apparently, she was advertised as being a healthy dog but has required veterinary treatment costing approximately €1,800.

We wish Edda well.

Would you send a selfie of your legs for a bonus?

I’m all for equal rights in the workplace. It doesn’t matter whether you’re male or female. It doesn’t matter what the colour of your skin is or your religious preferences. The only thing that does matter is whether or not you can do your job.

Not everyone shares the same view though and in Russia, aluminium manufacturing company Tatprof is offering a bonus to its female employees if they wear a skirt and makeup.

Oh, and to get the bonus they have to send a selfie of them showing their legs and make up to their (mostly male) bosses.

The bonus is 100 Russian Rubles (approx. £1.25) and it’s been reported that 60 people have so far sent in selfies to get the bonus.

Some may say that there are 2 sides to the argument.

The first, and probably most obvious, is that this is a step backwards in the workplace. A person should be judged by their ability to do their job rather than what their legs and make up look like. It’s 2019 for goodness sake and not the 1950s.

A counter argument though was put forward by Anasasia Kirillova, who works for the company’s department of corporate culture and internal communications who said that “Many women automatically put on trousers, so we hope that [the campaign] will increase our ladies’ awareness, allowing them to feel their femininity and charm when they make the choice of wearing a skirt or dress”.

It seems the message is coming from the top of the company.

According to Ms Kirillova, Tatprof’s male CEO Sergei Rachkov “really wants to maintain the female essence in every female employee of the company, so that young women do not have male haircuts, do not change into trousers, so that they engage themselves in handicraft, project all their warmth into raising children”.

Now, I’m personally not convinced by this counter argument but what about opening up the bonus option to everyone in the company?

What about offering the bonus to men as well as women who send a selfie of themselves wearing a skirt?

Best to take it back…

Most of you have probably had an interview. In fact, some of you may have had a number of interviews but a boss of one of the top companies in Australia has recently disclosed a pretty unusual way of deciding who not to offer a job to.

Trent Innes, who heads up Xero in Australia said that he will greet the person when he or she arrives for the interview and then take them to the kitchen to offer them a drink before heading to the meeting room with the drink. Even if they aren’t tea or coffee drinkers they will generally walk away with a glass of water.

He explained in the Venture Podcast with Lambros Photios that after taking the drink back for the interview “one of the things I’m always looking for at the end of the interview is, does the person doing the interview want to take that empty cup back to the kitchen?”

He explained that what “I was trying to find was what was the lowest level task I could find that regardless of what you did inside the organisation was still super important that would actually really drive a culture of ownership.”

He went on to say, “You can develop skills, you can gain knowledge and experience but it really does come down to attitude, and the attitude that we talk a lot about is the concept of ‘wash your own coffee cup’.”

That’s quite a smart move by Mr Innes as he said that attitude was the most important trait he looked for when hiring people.

He said that “Especially in a fast growth company or a start-up environment or scale up environment – you need people with a really strong growth mindset and that comes back to their attitude.”

So, how many interviewees do you think offered to take their cups back?

Perhaps surprisingly, the number of people who offered to take their cup back to the kitchen was pretty high. According to Mr Innes only 5 to 10 per cent of the interviewees didn’t offer to return their empty coffee cup back to the kitchen.

So there you go. If you’re attending an interview and you go to the kitchen with the boss to get a drink, it’s probably a good idea to offer to take the cup back.