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After months of rigorous searching, you’ve found your ideal executive candidate. They tick every box on paper and seem perfect in interviews. But then reality hits: Your “Cinderella candidate” isn’t prepared for the real-world challenges of the role. Now what? A popular study highlights just how common—and costly—this scenario is. A 2015 research report from Corporate Executive Board found that 50% to 70% of leadership hires fail within 18 months. And that can cost the company one-half to twice the hire’s annual salary, according to a 2019 Gallup report. Given the high levels of remuneration, the financial impact can be even more severe at the executive level. As …

The American economy runs on what are known as heuristics, a diverse array of mental short-cuts that help consumers make a dizzying number of choices to navigate the wild complexity of everyday life. These shortcuts help us select the restaurants we may choose to patronize, the cars we drive, the food we purchase, and the schools we attend and to which we send our children. We rely on scoring systems, certifications, and ranking methodologies to consider what movies to see, what music to listen to, and whether to purchase fair-trade products. These shortcuts come in many forms, from the complex (like the tools used to rate bonds and other financial products) to the straig…

It can be tempting for business leaders to overly rely on data to drive their decision-making. But so often that approach can sacrifice the human connection that’s needed between leaders and their employees and customers. At Fast Company’s annual Impact Council meeting last week, Elyse Cohen, chief impact officer of the Selena Gomez-founded beauty brand Rare Beauty; and David Ko, CEO of mental health and sleep assistance platform Calm, took to the stage to discuss why leading like a human is so important, particularly at a time of striking technological advancement. Data-driven human connection Although Calm leverages AI, the company predominantly uses those …

The Internal Revenue Service (IRS) has issued a warning that more than a million taxpayers are still eligible to receive a share of more than $1 billion in refunds—but they need to act quickly. Here’s what you need to know. Over $1 billion in refunds still to be claimed The refunds are due to people who have yet to file their 2021 tax return. The IRS says the total potential value of the refunds still to be claimed is estimated to be $1,025,336,800. As many as 1,142,000 taxpayers are eligible for part of that payout and the median refund amount is estimated to be $781 per taxpayer, the agency says. That means half of the people who are due refunds will receive…

Fans of the discount retail chain Big Lots will be happy to know that the company is just days away from making the second phase of its comeback. On Thursday, May 1, Big Lots will reopen an additional 54 stores, followed by another 78 stores two weeks later on May 15. Here’s what you need to know about the company’s continued retail revival, including which locations will be opening again soon. Big Lots back from the brink Back in September 2024, Big Lots filed for bankruptcy. Like many big box discount retailers, Big Lots had struggled from falling foot traffic and declining sales for years. In December 2024, the company announced it would go out of business a…

The Fast Company Impact Council is an invitation-only membership community of leaders, experts, executives, and entrepreneurs who share their insights with our audience. Members pay annual dues for access to peer learning, thought leadership opportunities, events and more. Retail is at a turning point. AI is no longer a futuristic idea or marketing buzzword—it’s a business necessity. Consumers expect intelligent, seamless, and personalized experiences at every touchpoint. The brands that deliver on those expectations will win. Those that don’t will fall behind. Still, when I talk with retail leaders, I hear the same concerns again and again: How do…

Big Bear’s internet-famous bald eagles—Jackie, Shadow, and their three chicks—have been a source of joy for millions of people during these unprecedented times. Unfortunately, that did not protect our feathered friends from tragedy. During a harsh late winter storm, the eldest chick died after the couple worked so hard to nurture it. This heartbreaking loss was a reminder of nature’s brutality and the ability to persevere. Let’s take a look at the timeline of this tragic event, the internet’s reaction to it, and how fans are moving forward, including with a chance to give names to the two surviving chicks: What happened to the baby chick? The week of…

The concept of advancement is baked into the way we think about work—almost like it’s a video game. Just like you don’t want to stay at a particular level of that game for too long, it sometimes doesn’t feel like you’re succeeding at work if your title doesn’t change, and you don’t get a significant raise. Getting a promotion isn’t just a matter of wanting it or playing the game long enough. There are several factors at play—only some of which are under your control. First, the organization needs to have a position for you to move into. If there is no role for you to play, then there isn’t much you can do to get promoted this year. Second, you have to decide whether t…

Layoffs might make headlines, but the real measure is how leaders support the remaining employees. Layoffs are undeniably challenging for good reason. However, it’s what leaders do in the aftermath that determines whether a culture fractures or recovers. I’ve led workforce complex reductions at Amazon, Microsoft, startups, and PE-backed firms. While every situation was unique, the same pattern appeared each time. It wasn’t necessarily the layoff that broke the culture. It was the leadership response. Layoffs disrupt the culture and impact more than just headcount. I’ve watched talented, engaged employees turn quiet and withdrawn after layoffs. Not because they sto…

Last year, OpenAI decided it had to pay more attention to its power users, the ones with a knack for discovering new uses for AI: doctors, scientists, and coders, along with companies building their own software around OpenAI’s API. And so the company turned to post-training research lead Michelle Pokrass to spin up a team to better understand them. “The AI field is moving so quickly, the power-user use cases of today are really the median-user use cases a year from now, or two years from now,” Pokrass says. “It’s really important for us to stay on the leading edge and build to where capabilities are emerging, rather than just focusing on what people are using the models…

There is a new landmark at the home of the Chicago White Sox—Section 140, Row 19, Seat 2. That’s where Father Bob—the future Pope Leo XIV—sat for Game 1 of the 2005 World Series. The White Sox unveiled a graphic installation Monday that pays tribute to the new pontiff and that moment during their last championship run. The pillar artwork features a waving Pope Leo XIV, along with a picture from the TV broadcast of the future pope sitting with good friend Ed Schmit and his grandson, Eddie. The team also is planning to do something to commemorate the Rate Field seat the pope occupied during the 2005 World Series opener. “When people come into the ballpark, it’s an inter…

Although there is no shortage of AI enthusiasts, the general public remains uneasy about artificial intelligence. Two concerns dominate the conversation, both amplified by popular and business media. The first is AI’s capacity to automate work, fueling widespread FOBO, or fear of becoming obsolete. The second is AI’s tendency to reproduce or even exacerbate human bias. On the first, the evidence remains mixed. The clearest signal so far is not the wholesale replacement of jobs, but the automation of tasks and skills within jobs. Most workers are less likely to lose their roles outright than to be forced to rethink what they do at work and where they add value. In that…

Billy Evans, the partner of Theranos founder Elizabeth Holmes, is currently in the process of raising money for his own startup. It’s a blood-testing company. According to reports from NPR and The New York Times, both of which spoke with anonymous sources close to the venture, 33-year-old Evans has already raised several million dollars for a new “stealth” startup focusing on diagnostics and health testing. Prior to this news, Evans first came into the public eye back in 2018 when he began dating Holmes, who is currently serving out an 11-year federal prison sentence for committing fraud through her infamous blood-testing company Theranos. Over the weekend, …

The rise of artificial intelligence is transforming every industry, but it also creates enormous demand for digital infrastructure and natural resources. Data centers, the engines of this transformation, consume vast amounts of water and energy. A single hyperscale data center consumes up to 5 million gallons of potable water every day. In Phoenix, 58 centers together demand more than 170 million gallons daily, enough to ​​serve up to several hundred thousand households. This is the internet’s hidden water footprint, amplified by AI, cloud computing, and data-heavy services. Training a single large AI model in a Microsoft data center can require about 185,000 ga…

Frequent flyers and travel hackers who visited SeatGuru on October 31 were met with an unpleasant surprise: a shuttered website directing them to Tripadvisor’s homepage. After nearly a quarter-century in operation, the beloved website that helped fliers determine which seats to grab, and which to avoid, is gone. Here’s why, and three SeatGuru alternatives to try now. What was SeatGuru? SeatGuru was a website highly regarded by frequent fliers. The site hosted seatmaps for thousands of airplanes and categorized every seat on each aircraft in order to help fliers figure out which to book and which to avoid. “Good” seats were those with qualities like the most legroom…

AI is rapidly changing the world around us, from the way we engage online to how we work. But while the technology is able to complete an astonishing number of tasks, humans are far from obsolete. A new report from McKinsey is shining light on why humans are still essential. According to the report, roughly 57% of work hours can be automated. Meanwhile, 70% of the skills employers look for can be used for both automated work and nonautomated work. This means over the next five years, humans will have to adjust their work habits to make room for automation. McKinsey designed an index to assess how automation will impact each skill used in the workplace today. Acc…

After making his mark in Silicon Valley, Icelandic designer and tech mogul Haraldur “Halli” Thorleifsson is now solving a far more analog problem: the inaccessibility of local storefronts. As a wheelchair user, Thorleifsson knows firsthand how exclusion can be built into a city. “If you don’t see anyone using a wheelchair,” he says, “it’s not because they don’t exist—it’s because they have nowhere to go.” Thorleifsson has experienced such access barriers to public spaces throughout his life, but the turning point came on a late-night walk with his family in downtown Reykjavík, when he couldn’t join his son in a corner store because of a single step at the entrance. …

You shouldn’t have to cross your fingers and hope for a strong stock market to coincide with your short-term goals. And right now, you probably wouldn’t want to. Because you’re working within a short time frame—think two to six years—investing for shorter-term goals like buying a house or paying for a wedding should look different from the portfolio you build for retirement. But don’t stop putting away money for your long-term goals while you’re working toward your short-term ones. So, how do you balance saving for both? How to think about funding short-term and long-term goals Don’t forgo saving for the long term to meet your short-term goals. Thanks to the powe…

Amazon on Monday launched its latest AI model, designed to take over a user’s web browser and perform simple tasks. The move places the e-commerce giant in more direct competition with artificial intelligence companies like OpenAI and Anthropic, which are also developing AI “agents.” The model, called Nova Act, is currently available as a “research preview” for developers, meaning it’s not yet open to the general public. It can complete tasks such as browsing the web and making purchases without supervision. For instance, the company demonstrated Nova Act searching for apartments within biking distance of a specific train station. It can also handle more nuanced instr…