The Amazon Hiring Process – We Want Missionaries Not Mercenaries

November 13, 2022Posted inHuman Resources
Today’s employment market is extremely tight.  Most of us are looking for concessions and other inducements to encourage prospective employees to join our teams.  And yet, we can’t afford not to be choosy about the folks we hire.  The cost of turnover, even if you welcome the departure of the employee, is too high in terms of dollars (typically at least $20,000) and opportunity cost of adjustment time to compromise in our hiring. The first…

The Next Big Thing From JPMorgan

October 27, 2022Posted inNewsletters
Many of you, my readers, know of my admiration for JPMorgan and its leader, Jamie Dimon. I have written about their long-term strategic thinking and unwavering execution numerous time. Equally importantly, their failures were short-lived, as management is quick to kill unsuccessful project. The idea below, which is now a top priority for the company’s executive team, might be the next Chase digital wallet (unsuccessful) or the next digitization strategy (hugely successful). Either way, it…

Another Reality Check – Zelle, Venmo, Square And The Banking System

October 13, 2022Posted inPayments
The Zelle real-time payments network is a latecomer to the world of peer-to-peer payments compared with competitors like PayPal’s Venmo or Block’s Cash App. Despite having launched eight years after Venmo and four years after Cash App, Zelle has processed more than five billion transactions worth nearly $1.5 trillion in its first five years of business. Zelle is run by a fintech company owned by seven of our country’s largest banks: JPMorgan Chase, Bank of…