Halting imposter syndrome

Avoiding triggering impostor syndrome is just as important as supporting employees who might be experiencing it. Use objective criteria in promotion decisions. Unconscious biases can influence decisions based on subjective assessments. Ensure that opportunities for promotion are communicated to eligible employees and use clear and explicit criteria when evaluating candidates. Consider providing specific feedback to employees who are denied promotions. Humans have an innate need to make sense of outcomes, and a promotion denial might be impostorising when employees interpret the decision as a reflection of their inadequacy. Provide employees with sufficient resources. Whether stepping into the C-suite or an entry-level position, employees are more likely to thrive when they have organisational support. Failure can be an impostorizing experience by leading otherwise intelligent and competent employees to believe that they are inadequate rather than lacking organisational support.

(Adapted from “Halt Impostor Syndrome Before It Happens,” by Angélica S. Gutiérrez, published on September 26, 2023, by MIT Sloan Management Review)

Increasing diversity through AI

With generative AI platforms such as Midjourney and Dall-E, anyone can render uncannily lifelike models with a mere text prompt. Easy to make and customisable, AI-generated models offer brands and retailers a fast, cost-effective alternative to traditional, resource-intensive photo shoots. Those usually require at least one model, a photographer, a makeup artist, a hairstylist, a fashion stylist and a crew — all of whom need to get paid. There’s also a possibility for AI models to increase representation and size diversity in mainstream fashion imagery. In March, Levi Strauss, the 170-year-old US apparel and denim brand, announced its plans to use AI-generated models to show a wider range of body types and underrepresented demographics on its website. “We know our customers want to shop with models who look like them, and we believe our models should reflect our consumers,” the company said in a statement. The backlash was swift, with social media users criticising Levi’s choice to commission virtual models instead of hiring real people from diverse backgrounds.

(Adapted from “Is That A Model Or AI,” by Katharine K. Zarrella, published on September 14, 2023, by The Wall Street Journal)

A tourist problem

Last month, for the first time ever, Venice’s main islands had more tourist beds, including hotels and short-term rentals such as Airbnb, than residents, according to Ocio, a group that campaigns for affordable housing in the city. The estimate deepened fears that the city will soon be populated only by tourists and a few resident holdouts. Venice’s takeover by tourists used to be a problem in summer, and a few other peak periods of the year. Now it is spread across the calendar. At the same time, the resident population is in steady decline, dropping below 50,000 last year for the first time in more than three centuries. Many European cities are grappling with the strains of excess tourism. But Venice has become the symbol of the problem because of the clash between its worldwide appeal to visitors and the delicate fabric of a centuries-old city built on more than 100 islands.

(Adapted from “Venice Residents Struggle To Prevent A Tourist Takeover,” by Eric Sylvers, published on September 27, 2023, by The Wall Street Journal)

Afghani’s rise

Billions of dollars from humanitarian aid and rising trade with Asian neighbours have propelled Afghanistan’s currency to the top of global rankings this quarter — an unusual spot for a poverty-stricken country with one of the world’s worst human rights records. The ruling Taliban, which seized power two years ago, has also unleashed a series of measures to keep the afghani in a stronghold, including banning the use of dollars and Pakistani rupees in local transactions and tightening restrictions on bringing greenbacks outside the country. It has made online trading illegal and threatened those who violate the rules with imprisonment. The currency controls, cash inflows and other remittances have helped the afghani climb around 9pc this quarter, outpacing the likes of the Colombian peso’s 3pc gain. The afghani is up about 14pc for the year, putting it third on the global list, behind the currencies of Colombia and Sri Lanka.

(Adapted from “Taliban Controls The World’s Best Performing Currency This Quarter,” By Karl Lester M Yap and Eltaf Najafizada, published on September 26 2023 by The Wall Street Journal)

Published in Dawn, The Business and Finance Weekly, October 2nd, 2023