Renewables Battling Climate Change Now Need to Insure Against It
Renewable power projects can lose substantial revenue if the wind fails to blow, if clouds block the sun, or when a hurricane slams into expensive infrastructure. To protect against such climate-induced losses, many owners are turning to parametric insurance, a product providing rapid compensation when certain weather-related metrics are met. The downside is that if the pre-defined trigger is missed by even a tiny amount, there is no payout. And the money that's paid may end up covering only a small portion of actual losses.
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Fast Company
6 minutes ago
- Fast Company
Investing in early-in-career talent is vital to win the AI race
advertisement AI is fundamentally changing how we work. People will increasingly oversee more AI agents, changing the way we think about teams. Business leaders must shape what's next—not shrink from it. From job elimination to job evolution EIC employees are AI natives who are already leading the transformation. They intuitively engage with tech, bring creative agility, and have the curiosity needed to thrive in fast-changing environments. According to the World Economic Forum, job loss between 2025 and 2030 will be more than offset by new roles, leading to a net gain of 78 million jobs. As some roles and tasks phase out, new ones emerge that require skills like AI and data fluency, creative thinking, resilience, and curiosity. Subscribe to the Daily newsletter. Fast Company's trending stories delivered to you every day Privacy Policy | Fast Company Newsletters If we don't protect and modernize the EIC pipeline, we risk widening the skill gaps and stalling the impact and ROI of AI solutions. EIC talent will be tomorrow's leaders, so we need to build pathways for them today. The demographic and leadership imperatives The talent pipeline is narrowing just as the pace of transformation is accelerating. U.S. birth rates are declining. Fewer 18-year-olds are entering the workforce. Higher education costs are skyrocketing, and many high school graduates are choosing two-year and technical degrees or trade jobs. That makes every EIC hire even more valuable. HR leaders help define the structure of the workforce and manage payroll—the largest line on the profit and loss statement—so where we invest matters. EIC roles are often the smartest entry point for workforce planning. We need to build AI-first cultures rooted in continuous learning, with roles that fuel business and personal growth. That means doubling down on equipping early-career talent with the skills, creativity, and adaptability to lead AI-powered organizations. And our succession pipelines must prioritize leadership capabilities like AI fluency, orchestration, and human-centered change management. That means focusing on these key steps: Reimagine strategic workforce planning As leaders, we must identify the skills AI won't replace and the skills that matter most to our businesses—from programming and UX design to collaboration, creative problem solving, and empathy. Then we should map those skills to evolving roles. For example, if AI handles research, an entry-level role could evolve into a prompt engineer or curator. Other future roles could include AI safety and ethics coordinators and AI agent trainers for front line workers. Design new rotations and exposure Companies that invest in internships build future-ready talent pipelines. Internships today are table stakes. To stand out, we need to build rotational programs, apprenticeships, and real-world experiences that give EIC hires exposure across the business. Reverse mentoring, for example, could give EIC talent a chance to connect directly with senior leaders, while giving those leaders a window into AI-native thinking. The goal is to retain top talent by creating a culture of growth, mobility, and connection. With clear goals, meaningful work, strong managers, and real learning experiences, EIC talent has the chance to thrive and drive innovation. At ServiceNow, 95.6% of our interns accepted our full-time offers in 2024, proof of meaningful investment. Embrace AI-first learning for growth and retention Retaining top talent, especially early-in-career talent, starts with listening followed by meaningful action. Sixty-five percent of EIC workers say they'd stay at least four years at a company if it offered robust development opportunities. We need to show EIC talent how they can grow, and design learning that matches their curiosity. EIC employees expect learning to be personalized, bite-sized, and built into the workflow. That's why we launched ServiceNow University—to train our employees and the broader technology ecosystem. It's working: EIC hires at ServiceNow have a 7% lower attrition rate in their first two years than their peers. The long game: Invest in young talent and AI Leaders don't need to decide between cutting costs and investing in the future. They can do both when they focus on transforming the workforce. Organizations that lead with intention—those that rethink roles, invest in AI enablement, and reimagine EIC talent—will attract the best minds and shape the next era of innovation. We all have a lot to learn in this new world, and we should evolve our strategies as we go. But EIC employees are essential. Their fluency with technology, drive to learn, and creative edge are exactly what we need to build the future. We can't afford to sideline them. Committing to EIC talent will require a lot of hard work and vision, but with the right strategy, it is possible. Jacqui Canney is chief people and AI enablement officer at ServiceNow.
Yahoo
35 minutes ago
- Yahoo
Meta signs $10 billion-plus cloud deal with Google, The Information reports
(Reuters) -Google has struck a major cloud computing deal worth more than $10 billion with Meta Platforms, The Information reported on Thursday, citing two people familiar with the matter. Under the agreement, Meta will use Google Cloud's servers, storage, networking and other services, the report said. Reuters could not immediately verify the report.
Yahoo
an hour ago
- Yahoo
CFO turnover spikes after record CEO exits last year
This story was originally published on CFO Dive. To receive daily news and insights, subscribe to our free daily CFO Dive newsletter. Dive Brief: Global CFO turnover increased during the first half of the year to a seven-year high on an annual basis, according to an analysis by leadership advisory firm Russell Reynolds Associates. A total of 173 public company CFOs were appointed in the first two quarters of the year, compared with 169 during the same period in 2024, according to the research. The latest number far surpasses the year-over-year average of 160 since 2019. 'This rise in turnover is driven by increased retirement rates and record high CEO turnover in 2024,' Russell Reynolds said in a report. Dive Insight: Starbucks is among public companies that have named a new CFO this year following a CEO departure. The coffeehouse chain announced in March that it tapped Cathy Smith, then CFO of Nordstrom, to become its finance chief, replacing longtime veteran Rachel Ruggeri. Smith received a cash signing bonus of $5 million as part of her compensation package. The move was part of a flurry of executive leadership changes at Starbucks after Brian Niccol was installed as CEO in September with the goal of turning around declining sales. Other companies that have announced CFO transitions this year after a CEO change include Boeing and healthcare company UnitedHealth. 'To mitigate rising CFO turnover, organizations should leverage best-practices in CFO succession planning, including using a new CFO's arrival as a trigger to assess the finance function, focus on bridging skills gaps, and formalize development plans,' the Russell Reynolds report said. Fifty-six percent of outgoing CFOs retired or moved to board roles exclusively in the first half of 2025, a seven-year high, according to the research. Fifty-seven percent of global incoming finance chiefs were appointed internally, slightly higher than 54% in the year-earlier period, an indication that CFO succession plans are starting to come to fruition, the report said. The findings are in line with trends the leadership advisory firm previously noted in a March report where it flagged early CFO retirement as a key factor behind high turnover, CFO Dive previously reported. Recommended Reading UPenn, University of Texas produce most CFOs Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
