TIME Management

Nike Co-Founder Phil Knight to Step Down as Chairman

Phil Knight Nike Chairman
Bloomberg via Getty Images Phil Knight attends a panel discussion at the Brookings Institution in Washington, D.C., on Jan. 15, 2013.

Knight recommended CEO Mark Parker to succeed him as chairman

Nike co-founder Phil Knight, who built the iconic athletic gear brand from a small-scale shoe business, will step down as chairman next year, the company announced on Tuesday.

Knight, 77, has recommended to the Nike Board of Directors that CEO Mark Parker to succeed him as chairman, the company said in a statement. Nike also announced that Knight’s 41-year-old son, Travis Knight, was named as the newest member of the board.

“For me, Nike has always been more than just a company – it has been my life’s passion,” said Knight, who co-founded Nike, then known as Blue Ribbon Sports, in 1964 with his former college track coach, Bill Bowerman.

Knight, who plans to stay involved with the company, added that he will transfer most of his Nike Class A Common Stock to a limited liability entity called Swoosh LLC, managed by Knight, Parker and two other Nike executives. Since Class A shares generally hold more voting rights, the transfer will allow Swoosh to elect about three-quarters of Nike’s board.

“I believe this structure will maintain NIKE’s strong corporate governance, which has focused our management on serving the consumer and pursuing profitable, long-term growth,” Knight said.

TIME Careers & Workplace

How to Set Yourself Apart During Job Interview

businesswoman-job-interview
Getty Images

Focus on the strengths

The Muse logo

“Just take a chance on me.”

It was a common line in my cover letters a few years ago, when I was desperate to make the switch out of management and into marketing—without a related degree or experience. Even so, I was so sure that if the employer just gave me a chance, he or she wouldn’t regret it.

But when an employer has a pool of fully qualified candidates, why would he or she take a chance on someone who’s on the edge of meeting the job requirements?

I’ll tell you this much: It takes more than including a pretty unconvincing pick-up line in your cover letter. Here are a few tips to get your foot in the door.

Don’t Draw Attention to Your Lack of Skills or Experience

The key to this whole process isn’t necessarily to convince the hiring manager to take a chance on you, but to get him or her to actually think you’re a good fit for the role. So the very first thing you have to do is stop apologizing for your lack of skills or experience.

Whenever you include a sentence in your cover letter such as “While I’ve never been in a marketing role before…” or “Although I don’t have any management experience…” or even “If you would just take a chance on me…” all you’re doing is telling the hiring manager you can’t do the job.

“Instead of drawing attention to your weaknesses, a better way to move on to your qualifications is to state your skills and ability to contribute directly,” recommends career counselor Lily Zhang. “Stay positive, focus on your strengths, and immediately launch into your transferable skills and infectious enthusiasm for the position.”

Showcase What Sets You Apart

No matter what you’re transitioning from or to, you do have transferable skills.

For example, while my management roles didn’t involve any true marketing, they did require me to network and form relationships with other businesses in the community, manage multiple projects at a time, and communicate effectively with our customers—all of which would be helpful in a marketing role. (Here’s a great cover letter template that can help you show off your transferable skills.)

Even more important is demonstrating your additive skills, says career expert Sara McCord. That means fully embracing your career background and finding a way to express how that background will uniquely suit you for this job.

“Think about it: If you’re slightly underqualified, there’s a reason why,” she says. “If you spent the first two years of your career in a different sector, you bring experience from that industry.”

For example, when I first wanted to write for The Muse, I had absolutely no writing experience—but I did have management experience, which made me an ideal candidate to write management content.

Take a Risk

To get a hiring manager to choose you out of a sea of other applicants, especially when you may not be as qualified as the others, you might as well take a risk to stand out. Otherwise, you may simply pass under the radar. (And let’s be honest: What do you have to lose?)

For example, just take a look at some of the boldest applications we’ve seen around the web: an action figure resume, an interactive resume, and an infographic resume.

These types of applications certainly get the attention of the hiring manager, clearly conveying that the person just might have something the tips the scale in his or her favor. (Just make sure to follow these tips to make sure you’re not going too over the top.)

But maybe you don’t want (or don’t have the means) to be that bold. You can stand out in plenty of other ways, says counselor and Muse columnist Caris Thetford. For example, maybe you submit a project proposal with your application or compile your writing samples in an online profile. This can help you stand out from the other applicants just enough to show the hiring manager that you may deserve another look—and ideally, an interview.

Do Everything Else Right

You can’t afford to slip up when you think your resume might be on the bottom of the pile. That means sending every thank you note on time, following up in a timely (but not annoying) fashion, and proofreading your resume and cover letter a dozen times over to check for errors.

These may seem like small and insignificant gestures, but the smallest flaws can remove a candidate from the hiring process—and you don’t want that to be you.

By proving your worth in your application materials, you’ll have a much better chance of landing an interview—and then, you can showcase your cultural fit and passion face-to-face. Do that well, and you just may convince the hiring manager to take a chance on you.

This post is in partnership with The Muse. The article above was originally published on The Muse.

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TIME trafficking

Mastercard Agrees to Withdraw Support from Backpage.com

American Express, Discover, MasterCard and Visa credit cards are displayed for a photograph in New York, U.S., on Tuesday, May 18, 2010. Credit-card firms caught off-guard by U.S. Senate passage of curbs on debit fees are facing what one executive sees as a "volcanic" eruption of legislation, including possible limits on interest rates. Photographer: Daniel Acker/Bloomberg via Getty Images
Bloomberg/Getty Images

As part of an effort to fight sex trafficking

Mastercard has agreed to withdraw as an ad payment option on the adult section of Backpage.com, after Cook County Sheriff Tom Dart asked credit card companies to pull support from a site that is often used for trafficking and prostitution.

The Chicago-area sheriff wrote to Mastercard CEO Ajaypal Banga on Monday requesting the change, and on Tuesday the company agreed to sever ties with the adult section of the site, citing “rules that prohibit our cards from being used for illegal or brand-damaging activities.” American Express has already withdrawn as a payment option. Requests for comment from Visa were not immediately returned.

Further details about Dart’s initiative to fight trafficking by taking on Backpage.com will be announced Wednesday.

If the Sheriff’s effort succeeds, it will become increasingly more difficult for pimps to place ads for sex. Backpage.com charges a small fee to place adult ads, which can cost anywhere from $5 to $17 and bring the website about $9 million in revenue per month, according to Dart’s office, and 1.4 million ads for sex were placed in April alone. Right now, the only way to post an ad is to pay the small fee through Visa, Mastercard or Bitcoin.

“Backpage has significantly lowered the barrier to entry for would-be sex traffickers, giving them easy access to millions of johns while cloaking them in anonymity and putting all risk on the shoulders of their victims. Raising that barrier will lead to less would-be sex traffickers entering the business as well as less victims,” said Dart in a statement.

He added that he asked Visa and Mastercard to “defund this criminal enterprise and join us in the fight to seek justice for sex trafficking victims across the globe.”

MONEY Books

Why Adults Are Getting into Coloring Books

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Jeffrey Coolidge/Getty Images

It's the latest "literary" craze.

Coloring books: they’re not just for kids anymore.

That’s the word from The Boston Globe, which reports that coloring books for adults are flying off store shelves. The books, which the paper says are more detailed than their child-focussed counterparts, are among the top sellers on Amazon and are well stocked by bookseller Barnes and Noble.

Why are grownups buying up a genre generally targeted at younger children? The answer seems to be that coloring between the lines can be a therapeutic exercise.

“I think it probably speaks to people’s enjoyment in doing this kind of relaxing hobby or distraction from everyday life,” Sarah Deaver, president of the American Art Therapy Association, told the Globe. “It creates an object of focus, and it creates something that’s beautiful and that’s satisfying.” One best-selling coloring book is subtitled Stress Relieving Patterns, and promises to provide “hours and hours of stress relief, mindful calm, and fun, creative expression.”

Adult coloring books have become so popular that even Game of Thrones author George R.R. Martin is getting in on the act. Earlier this month, Bantam books announced it would publish a GoT coloring book meant for a mature audience. The book “will feature 45 original black and white illustrations, inspired by characters, scenes, locations and other iconic images from Martin’s wildly successful ‘A Song of Ice and Fire’ series,” the company told the Los Angeles Times. The coloring book is scheduled for release sometime this fall.

TIME employee benefits

Why Employers Are Offering More Generous Benefit Packages

Doctors Seek Higher Fees From Health Insurers
Adam Berry—Getty Images

Fewer workers are using nap rooms

Employers are offering more generous benefit packages, primarily driven by improvements in health care coverage.

Of the 402 human resource departments that responded to a survey from the Society of Human Resource Management, 35% said they were improving their benefits packages and 58% said they were keep them the same in 2015. Last year, only 28% of respondents said they were improving their packages.

Over the past five years, employers have especially improved mental health coverage, with 91% saying they would improve coverage in 2015, up from 82% in 2011. Over the same period, contraception coverage also improved, with 83% of employers making improvements this year, up from 69%, and the percentage of employers boosting critical illness insurance rising from 22% to 34%. Health savings accounts, which are tax-deductible accounts for medical expenses, have also seen an uptick, with usage rising 8% in the past five years.

As health care expenses rise for the majority of companies, many are offering preventative health benefits in order to tamp down spending in the long run, the study found. Those include health and lifestyle coaching, wellness programs, and smoking cessation programs, among others. Meanwhile, nap rooms, which were considered a preventative measure on the study, logged a 4% decrease in the past five years.

In terms of leave benefits, paid maternity and parental leave has increased in prevalence in the past five years. Flexibility is on the rise too: 56% of employers this year reported allowing workers to telecommute on an ad-hoc basis, compared to 42% in 2011.

According to the study, employers sink much of employee compensation in benefits that workers don’t notice in their paychecks: almost a third of private industry employee compensation came in the form of benefits in 2014. “In an environment with limited compensation growth in most sectors of the U.S. economy, a competitive benefits package can make the difference in attracting top talent to an organization,” the study said.

TIME Economy

What to Know About Obama’s Overtime Pay Announcement

The President announced that he's expanding overtime pay for a large swath of Americans

Wait, when did this happen?

In an op-ed titled “A Hard Day’s Work Deserves a Fair Day’s Pay,” which appeared on Huffington Post on Monday night, the President outlined the as-yet-unnamed overtime pay rule.

Set to take effect in 2016, the rule—which follows a Presidential directive in March to the Department of Labor to revise standards—would more than double the salary range for workers who are required to receive overtime pay, regardless of whether they are paid hourly or in salary.

Does this mean I’ll get more overtime?

Quite possibly: Obama’s op-ed notes that “nearly 5 million workers” would be affected by this change in 2016.

Current overtime-eligible salaries top off at $23,660, but the new rule would allow workers earning up to $50,440 to demand time-and-a-half for each hour of work beyond 40 hours.

The new salary cap reflects the average, middle-class American household’s income, which has stagnated at just under $52,000 for the past 15 years.

“That’s good for workers who want fair pay, and it’s good for business owners who are already paying their employees what they deserve—since those who are doing right by their employees are undercut by competitors who aren’t,” Obama wrote.

But why now?

The push for overtime pay moved up the President’s priority list after a scathing 2013 report by economists Jared Bernstein and Ross Eisenbray, which argued that the economy would actually be better off if employers built in overtime pay that was indexed to real salary levels instead of those from 1975, as under the current rule.

In other words, the President is seeking to make overtime pay more responsive to how we live in 2015 as opposed to how we lived in 40 years ago.

Who benefits from this proposal the most?

In a post-recession economy that has seen men struggle to recover their pre-recession earnings and employment levels, the rule promises to be a boost to men whose income is above the current overtime threshold.

Single women, however, stand to gain the most: With average income hovering around $35,154, unmarried women previously experienced the double whammy of earning less income than their single male counterparts (single men earned an average of $50,625 in 2013), and being unable to earn overtime pay.

Is anyone opposed to it?

Yes—much of the Republican Party. Some Republicans in Congress have already raised concerns about the rule, saying companies will have a reduced incentive to hire people now that they will have to pay them more.

The National Retail Federation has made a similar argument, previously citing an Oxford Economics study that argues employers would have less of a reason to hire workers, thereby nullifying any advantages to take-home pay for employees.

The rule would “add to employers’ costs, undermine customer service, hinder productivity, generate more litigation opportunities for trial lawyers and ultimately harm job creation,” the NRF said.

Both supporters (like the AFL-CIO) and opponents expect the rule, which would likely be enacted by the end of next year, to go to court and face Congressional challenge.

TIME Donald Trump

Angry Customers Want Macy’s to Fire Donald Trump

Donald Trump Launches His New Signature Watch Collection
Desiree Navarro—FilmMagic Donald Trump launches his Signature Watch collection at Macy's Herald Square.

The Donald’s official merchandise is facing some serious resistance

Donald Trump piñatas may be flying off the shelves, but The Donald’s official merchandise is facing some serious resistance.

Quartz reports that a petition calling for Macy’s to drop Donald Trump’s merchandise has gathered over 700,000 signatures. The petition is authored by Angelo Carusone, executive vice president for the left-leaning research organization Media Matters, and calls on the retailer to “sever ties” with Trump over the GOP presidential hopeful’s recent comments about Mexican immigrants.

“Donald Trump has attacked Mexican immigrants as ‘rapists’ and ‘killers,'” wrote Carusone. “It’s time for Macy’s to follow Univision’s and NBC’s lead and finally dump Trump.” Carusone is referring to recent decisions by the two broadcasters to split with the billionaire after he implied many Mexicans who come to America are criminals.

Trump has lent his name to a number of products, including spring water, and Macy’s currently carries the Donald J. Trump Collection line of clothing and the Empire by Trump fragrance. A Donald Trump white dress shirt is listed as regularly retailing for $69.99, while a Donald J. Trump Blue Pindot Suit can cost as much as $650. Many of the items are currently on sale. A container of Trump’s Empire perfume costs $52, but Empire-scented deodorant can be had for as little as $14.

This is not the first time the Media Matters executive has taken aim at Trump. Quartz notes Carusone also published a petition in 2012 calling for Macy’s to drop Trump’s merchandise in the wake of his comments suggesting Barack Obama might not be an American citizen. The current petition is an updated version of the previous effort, but Carusone told Quartz earlier today that 25,000 new signatures have been added in roughly the last 24 hours.

It is unclear how effective another petition against Trump will be. In an email to the Media Matters executive following the 2012 petition and published by BuzzFeed, Macy’s CEO Terry Lundgren wrote that “we respect your opinion and those who have signed the petition,” but “Many of the individuals associated with products sold at Macy’s — or at any retailer, for that matter — express personal opinions that are not related to the merchandise we sell or to the philosophies of our company. That is the nature of a free society.”

TIME Music

How to Stop Apple Music From Automatically Billing You

The first three months are free, but it defaults to auto-renew

Apple Music officially launched on Tuesday, and users are flocking to the three-month free trial — with a cleaner conscience, thanks to Taylor Swift.

But if you end up ditching the service after the trial ends, you should make sure you’re not billed $9.99 under Apple Music’s default automatic renewal. (Remember: anyone with an Apple ID had to link up a valid credit card or other payment option.)

Here’s how to make sure you don’t accidentally cost yourself some cash, as WIRED points out:

  1. Once you’re in the Apple Music app, tap on the human head icon to enter your profile.
  2. Tap on View Apple ID and log in.
  3. Tap on Manage, which is under Subscriptions.
  4. Tap Your Membership, and then Your Apple Membership.
  5. Now you’ll see Automatic Renewal. Switch this to off to cancel your subscription.

Read next: Everything You Need to Know About Apple Music

TIME Money

These 3 Decisions Will Change Your Financial Life

Make these decisions consciously

There’s nothing worse than a rich person who’s chronically angry or unhappy. There’s really no excuse for it, yet I see this phenomenon every day. It results from an extremely unbalanced life, one with too much expectation and not enough appreciation for what’s there.

Without gratitude and appreciation for what you already have, you’ll never know true fulfillment. But how do you cultivate balance in life? What’s the point of achievement if your life has no balance?

For nearly four decades, I’ve had the privilege of coaching people from every walk of life, including some of the most powerful men and women on the planet. I’ve worked with presidents of the United States as well as owners of small businesses.

Across the board, I’ve found that virtually every moment people make three key decisions that dictate the quality of their lives.

If you make these decisions unconsciously, you’ll end up like majority of people who tend to be out of shape physically, exhausted emotionally and often financially stressed. But if you make these decisions consciously, you can literally change the course of your life today.

Decision 1: Carefully choose what to focus on.

At every moment, millions of things compete for your attention. You can focus on things that are happening right here and now or on what you want to create in the future. Or you can focus on the past.

Where focus goes, energy flows. What you focus on and your pattern for doing so shapes your entire life.

Which area do you tend to focus on more: what you have or what’s missing from your life?

I’m sure you think about both sides of this coin. But if you examine your habitual thoughts, what do you tend to spend most of your time dwelling on?

Rather than focusing on what you don’t have and begrudging those who are better off than you financially, perhaps you should acknowledge that you have much to be grateful for and some of it has nothing to do with money. You can be grateful for your health, family, friends, opportunities and mind.

Developing a habit of appreciating what you have can create a new level of emotional well-being and wealth. But the real question is, do you take time to deeply feel grateful with your mind, body, heart and soul? That’s where the joy, happiness and fulfillment can be found.

Consider a second pattern of focus that affects the quality of your life: Do you tend to focus more on what you can control or what you can’t?

If you focus on what you can’t control, you’ll have more stress in life. You can influence many aspects of your life but you usually can’t control them.

When you adopt this pattern of focus, your brain has to make another decision:

Decision 2: Figure out, What does this all mean?

Ultimately, how you feel about your life has nothing to do with the events in it or with your financial condition or what has (or hasn’t) happened to you. The quality of your life is controlled by the meaning you give these things.

Most of the time you may be unaware of the effect of your unconscious mind in assigning meaning to life’s events.

When something happens that disrupts your life (a car accident, a health issue, a job loss), do you tend to think that this is the end or the beginning?

If someone confronts you, is that person insulting you, coaching you or truly caring for you?

Does a devastating problem mean that God is punishing you or challenging you? Or is it possible that this problem is a gift from God?

Your life takes on whatever meaning you give it. With each meaning comes a unique feeling or emotion and the quality of your life involves where you live emotionally.

I always ask during my seminars, “How many of you know someone who is on antidepressants and still depressed?” Typically 85 percent to 90 percent of those assembled raise their hands.

How is this possible? The drugs should make people feel better. It’s true that antidepressants do come with labels warning that suicidal thoughts are a possible side effect.

But no matter how much a person drugs himself, if he constantly focuses on what he can’t control in life and what’s missing, he won’t find it hard to despair. If he adds to that a meaning like “life is not worth living,” that’s an emotional cocktail that no antidepressant can consistently overcome.

Yet if that same person can arrive at a new meaning, a reason to live or a belief that all this was meant to be, then he will be stronger than anything that ever happened to him.

When people shift their habitual focus and meanings, there’s no limit on what life can become. A change of focus and a shift in meaning can literally alter someone’s biochemistry in minutes.

So take control and always remember: Meaning equals emotion and emotion equals life. Choose consciously and wisely. Find an empowering meaning in any event, and wealth in its deepest sense will be yours today.

Once you create a meaning in your mind, it creates an emotion, and that emotion leads to a state for making your third decision:

Decision 3: What will you do?

The actions you take are powerfully shaped by the emotional state you’re in. If you’re angry, you’re going to behave quite differently than if you’re feeling playful or outrageous.

If you want to shape your actions, the fastest way is to change what you focus on and shift the meaning to be something more empowering.

Two people who are angry will behave differently. Some pull back. Others push through.

Some individuals express anger quietly. Others do so loudly or violently. Yet others suppress it only to look for a passive-aggressive opportunity to regain the upper hand or even exact revenge.

Where do these patterns come from? People tend to model their behavior on those they respect, enjoy and love.

The people who frustrated or angered you? You often reject their approaches.

Yet far too often you may find yourself falling back into patterns you witnessed over and over again in your youth and were displeased by.

It’s very useful for you to become aware of your patterns when you are frustrated, angry or sad or feel lonely. You can’t change your patterns if you’re not aware of them.

Now that you’re aware of the power of these three decisions, start looking for role models who are experiencing what you want out of life. I promise you that those who have passionate relationships have a totally different focus and arrive at totally different meanings for the challenges in relationships than people who are constantly bickering or fighting.

It’s not rocket science. If you become aware of the differences in how people approach these three decisions, you’ll have a pathway to help you create a permanent positive change in any area of life.

This piece was adapted from Tony Robbins’ new book, Money Master the Game: 7 Simple Steps to Financial Freedom.

This article originally appeared on Entrepreneur.com

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TIME technology

EU Proposes Sweeping Ban of Cellphone Roaming Charges

The new rules also include net neutrality regulations for cellphone service providers

European Union proposed new rules on Tuesday banning cellphone roaming charges in all 28 member countries, as part of a raft of legal reforms to improve communication and e-commerce opportunities across the continent.

The agreed upon rules, which are expected to be voted upon and approved by EU member states in the next six months, will eradicate all cellphone roaming charges by June 2017, the New York Times reports. A gradual cost reduction will take place over the next two years.

Lawmakers also proposed net neutrality regulations that will prevent Internet service providers from providing different data speeds for different tiers of service.

“This is a great success for the European Union,” Anrijs Matiss, the Latvian Minister for Transport, said in a statement, but the new rules they have garnered pushback from service providers, including the British Vodafone and German Deutsche Telekom. Both companies have warned that the ban on roaming charges would dampen their incentive to invest in mobile and broadband infrastructure.

[New York Times]

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