Originally postyed on Linked IN by:The goal of every manager is to have a team full of exceptional employees. Sometimes the problem is finding them, but more often I see that managers have trouble retainingthe greatest employees.
But what if the problem isn’t them… it’s you?
Are you the sort of boss that great employees want to work for?
If you want to attract and retain great employees, it pays to be a great boss. Here are some simple expectations that the best employees have of their bosses:
1. Be consistent with meaningful communication.
Smart employees want clear expectations and communication when it comes to what’s expected of them. The No. 1 problem people cite with their bosses and managers is a lack of communication. If you can improve your communication skills and create a culture of open communication with your team, you will go a long way to creating an environment where the best employees will be happy.
2. Give recognition and praise.
Across the board, most people like to feel appreciated in their job. According to Entrepreneur, 65 percent of employees would be happier if they got more recognition at work, whereas only 35 percent say they would be happier if they got a raise. If you can build a routine of recognition and praise, you will encourage your best employees to be happy at work — and therefore stay. Don’t worry too much about awards or rewards; words go a long way.
3. Provide feedback, mentorship, and training.
The best employees want to improve and grow, and crave a development and mentorship role from their managers. Watch for opportunities to teach, to provide additional support, or to invite the right training for your employees. Making individual development a part of every job description is an excellent way to encourage and retain strong employees (and help them get even stronger).
4. Create a work culture by design.
Good bosses find ways to foster a sense of community at work. Great bosses build that culture intentionally. A big part of that is finding and attracting the right team members — and making sure that the wrong ones move on quickly. Nothing can hurt morale of your best employees more than feeling like they’re supporting a poor team member. Culture design is also about making sure those team members are in the right roles, the ones that make the best use of their particular talents and skills.
5. Create a safe space for failure.
Employees who trust that their failures will be met with constructive feedback and support are more likely to think creatively, work outside the box, and come up with innovative solutions to problems. It’s important to foster a sense that you succeed and fail together as a team, so that no one is thrown under the bus. If people are too busy worrying about losing their job to take chances, you’ll never get their best work out of them.
6. Provide strong leadership and a clear vision
The captain must steer the ship. If leadership doesn’t know where a project or company is headed, how can the employee know? This isn’t just about action steps or deliverables, either, but a clear vision of the department or company’s future that you can communicate to your employees. The best employees feel more confident when they feel that someone is steering the ship competently.
7. Hold yourself and others accountable
Many bosses hold their staff accountable, but the best hold themselves accountable as well. This means adhering to the same guidelines you set for your employees and taking responsibility for both team successes and failures. If your employees feel like you have their back, no matter what, they are much more comfortable and confident in their jobs, and will produce better work and stay longer.
8. Demonstrate good problem solving
Employees need their boss to be consummate problem solvers. You need to be able to not only spot a problem before it becomes a catastrophe, but brainstorm successful and innovative ways to fix it. When an employee comes to a manager with a problem, he or she needs to have confidence that they will get the help they need to fix it.
9. Avoid micromanaging
Learn to understand the art of delegation. One employee once told me that the best bosses have “fired themselves from their previous job” — meaning that they don’t interfere in the day-to-day and minute-to-minute workflow or processes. In essence, learning to delegate instead of micromanage is about trust, and the best employees want to feel trusted, and thrive in that environment.
10. Be an effective decision maker
Sometimes the worst position an employee can be in is when they are waiting for a decision from above. Effective bosses must be effective decision makers. You cannot vacillate over every tiny decision. Being able to make decisions quickly and decisively — and then take responsibility for the outcome (see number 7) — is an important business skill, especially when managing others. The more quickly and effectively you can make decisions, the better your employees can implement them, and that makes employees feel more efficient and effective.
11. Put people first
A great employee is going to want to find a job that fits his or her lifestyle and work/life balance needs. The best bosses understand that there must be a balance between the company or client’s needs and the needs of his or her employees. You must be willing to listen and talk about any issues an employee may be having and understand that a happy employee is a more productive employee.
12. Manage up, down, and sideways
Managers are expected to manage the people below them on the corporate hierarchy, but the best bosses also have ways of managing their superiors and coworkers on behalf of their team. This might mean effective communication, managing expectations, and requesting help in a timely manner. This sort of support is key from an employee’s perspective, who may not have any direct contact with those other partners.
13. Be honest
There’s nothing worse than a boss who says one thing and does another — and nothing will make a great employee start looking for a new position any faster than being lied to. Just as managers must trust their team, employees must trust their boss to have their best interests at heart. It’s always going to be in your best interest to be honest with your employees. (This is also a great way to ensure that they want to be honest with you.)
14. Be dedicated and balanced
The very best bosses I’ve seen are passionate about their work; they live and breathe their jobs and strive to do the best work possible. Yet at the same time, they have lives outside of work. They understand the need to balance family and work or play and work. And they set a good example of how to do that for their employees. Employees want to know that their outside lives are understood and valued because they can see that you value life outside the office as well.
Some of these expectations may seem obvious or commonplace, but I would challenge you to really look within and make sure that you’re demonstrating these qualities regularly with your team. If you are, you should have no trouble finding and retaining the best employees in your field.
As always, please share your thoughts. What additional traits of a great boss would you add to this list? I’d be interested to hear your contributions in the comments below.
Thank you for reading my post. Here at LinkedIn and at Forbes I regularly write about management, technology and Big Data. If you would like to read my future posts then simply join my network here or click 'Follow'. Also feel free to connect on Twitter, Facebook or Slideshare.
You might also be interested in my new and free ebook on Big Data in Practice, which includes 3 Amazing use cases from NASA, Dominos Pizza and the NFL. You can download the ebook from here: Big Data in Practice eBook.
Originally Posted on Linked IN by: Bernard Marr
Corporate America is shrinking—at least by one important measure. In five of the six quarters to June 2016, across the S&P 500, share buy-backs and dividends exceeded retained earnings.
From around 60% in 2009, the ratio of payouts and buy-backs to earnings has risen inexorably, passing 100% at the beginning of 2015 and reaching a staggering 131% in the first quarter of 2016.
If you imagine the S&P 500 to be one company, that company ceased to grow at the start of last year and shrank by nearly a third in the first three months of 2016. While the FTSE 100 may not have gone into reverse, a similar trend can be observed. The dividend-payout ratio has climbed from less than 40% in 2011 to over 70% in 2016.
Unsurprisingly in this context, corporate investment as a proportion of GDP has continued to decline. Businesses are choosing to return funds to shareholders rather than invest them back into their operations. Yet there is no shortage of cash to invest. Companies are estimated to be sitting on more than $7 trillion of net cash worldwide—a form of corporate inertia that will continue into 2017 and beyond.
So why are firms refusing to spend? The collapse of Lehman Brothers, and the carnage that followed, left deep scars on the collective corporate psyche. It has fundamentally changed the attitude to risk of an entire generation of executives.
The past eight years have been an era of low inflation, low pricing power and low growth, with disruption coming from all directions—from tech startups to activist investors and zero-based budgeters. The average managerial life expectancy of a CEO in America is between six and seven years. This falls to between five and six years for a chief financial officer and a mere two to three years for a chief marketing officer.
At the same time, a great flock of geopolitical grey swans (known unknowns) clouds the horizon, draining confidence: the global rise of populism, accompanied by ever-greater mistrust of institutions and corporations; intractable conflicts from Ukraine to the Middle East; the migrant crisis; terrorism. The slowing of major economies like Brazil and China, fiscal-deficit issues in America and Europe, and the eventual reversal of policies on quantitative easing and low interest rates also play on the minds of business leaders.
Businesses hardly needed another reason to put off or cancel investments. And then along came Brexit. Its full impact will only be known years down the line. The divorce could take the best part of a decade. The likely consequence is slower growth than would otherwise have been the case. And that’s before the potential independence domino effect: renewed calls for Scotland to leave the United Kingdom, and the possible disintegration of the European Union.
This cocktail of pressures is not conducive to long-term strategic thinking, and the financial world’s obsession with quarterly results doesn’t help. One survey revealed that nearly 80% of executives admit they would “take actions to improve quarterly earnings at the expense of long-term value creation”.
In this environment, procurement and finance departments (rather than growth-drivers such as marketing and R&D) have the whip hand. Risk-aversion and short-termism rule in the world’s boardrooms. This attitude is entirely understandable—and entirely wrong. Calculated risk-taking, in the form of investment, is the lifeblood of any business that wants to be successful in the long-term.
This is particularly true when it comes to investment in brands—usually a company’s most precious asset. If you were to treat the world’s ten most valuable brands from the past ten years (as measured by Millward Brown’s annual BrandZ survey) as a stock portfolio, it would have outperformed the S&P 500 index by almost 75% and the MSCI World index by more than 400%.
I don’t expect companies to undergo a Damascene conversion in 2017. But there’s a chance we will see the beginning of a change for the better. Powerful institutions, including BlackRock, Legal & General and the British government, are pushing for a different approach—one based on investment in growth over the long term rather than slicing costs to meet quarterly forecasts.
An initiative launched by McKinsey and the Canada Pension Plan Investment Board in 2013, called Focusing Capital On The Long Term, is set to gather speed in 2017. In July it appointed its first CEO, who will lead its development into a not-for-profit global organisation dedicated to encouraging long-term approaches in business and investment.
Projects like this may be the first steps towards restoring the animal spirits that have been so conspicuous by their absence in the post-Lehman years. The long-term health of the global economy depends on it.
This article was first published in The Economist - The World in 2017
“It is impossible for anyone in the organization to have all of the best ideas, so we’re leveraging open innovation, collaborative innovation, and crowdsourcing to collaborate with experts and entrepreneurs everywhere who share our passion for solving some of the world’s most pressing issues.”-Senior Executive, Fortune 500 Industrials Company
If experts and entrepreneurs are indeed “everywhere”, how do you find and access them?
Today, top talent is increasingly choosing to work in different ways, seeking more autonomy, flexibility, and choice in the work they do. As a result, organizations must rethink the ways they access and manage talent. By applying an “outside-in” lens on talent, and focusing on the capabilities required for specific projects and workstreams, enterprises will unlock an agile workforce that offers greater efficiency, flexibility and innovation to business leaders, and ideally, more freedom and satisfaction to the individuals doing the work.
The Organizational Mindset of the Future
Our new whitepaper, Winning With a Flexible Workforce, developed with insights from Pat Mascia, general manager of Catalant’s industrial practice, and Stuart Kliman, Catalant advisor, examines the rise of independent workers and the role of digital platforms in accessing and optimizing this new talent pool. Some key highlights include:
Measured against the tremendous variety of unique talent that exists around the world, every business, no matter how successful, has limited and narrow capabilities. There are simply not enough skilled employees inside a company to accomplish everything that an organization wants to do. At the same time, those individuals who can offer the most to a company increasingly want to work when they want, where they want, and with whom they want— and they also want to work on varied and interesting projects.
In response to these changes, leading companies and executives are revising their relationship with talent, becoming more agile at accessing diverse labor pools. Catalant believes – and has seen firsthand – that companies that navigate this transformation will experience substantial payoff in terms of new ideas, new growth opportunities, and new efficiencies.
This is the first in a series of whitepapers exploring the future of work, and how executives and organizations can capture the benefits of this seismic shift in workforce trends. In the upcoming papers, we examine the future of work from an industry lens by taking a deeper dive into the trends driving innovation in talent access in each of the consumer, healthcare, technology, financial services, and industrial sectors.
For more on this topic, download the full whitepaper, Winning With a Flexible Workforce.
Originally posted on Linked IN by:Rob Biederman
Someone recently asked me how you know when it's time for a professional change. We were talking about the twists and turns in my own career, and she asked, "How did you know each choice was best decision and the right time?" The short answer is that I was never fully certain - how could I be, before I moved into a new role and experienced it over time - but on the edge of each change, I was always both excited and afraid. Excitement told me I had a stirring interest in what's next, and a bit of fear told me it would be a challenge (which was a good thing).
Some choices worked out fantastically well and others were far less than perfect. But all of them taught me something important. That's the merit of change - it holds lessons the status quo never could. I think that's why I'm glad for the times I took action, wherever it led.
Most regrets in life are those of inaction. I recently read interviews with Fortune's 50 Most Powerful Women, and they were asked about the best and worst decisions they'd made in their careers. It was striking that none of them said they regretted a change - Heidi Miller's regret was staying in one role too long - unless it was a change that wasn't big enough. That resonates with my own experience. I don't regret the leaps I made as much as the larger ones I didn't.
I'm not advocating change for change's sake. Nor am I a fan of recklessness. But I do believe in bold reflection. So in that spirit, here are a few lessons I've learned about doing deep thinking to decide what's next.
If you're asking the question, you have an answer.
If you are often asking yourself if it's time to move on, you know one thing for sure: you are craving change. You have an answer - if not THE answer. Maybe it's time for a new job. Or maybe your instinct is an urge for a new challenge or different set of colleagues in your current role. Whatever the instinct, don't ignore it. Pay attention to your persistent questions. Some vital part of you has outgrown your current circumstances, and it is trying to engage you in an important exploration.
At times, I've done some mighty mental gymnastics to ignore the nagging questions in the back of my mind. I've convinced myself I "need stability" or should "play it safe." These rational machinations never succeeded in making me satisfied. I found myself more and more drained rather than energized by my work. It was always better to invite the inner conversation and see where it led.
This thinking is hard. Sometimes you'll need to turn to people around you for guidance. This can be very helpful, especially if those people share principles that have been useful in framing their own thinking. But watch out for overly prescriptive advice based on others' preconceptions about what is your best career path. Good advisers inform - not dictate - your thinking. Be honest about what feels right for you. They can't hear your inner voice - the one that might be secretly disappointed with their recommendation. Pay as much attention to your reactions to their advice as to the advice itself. That can tell you a lot about what's in your heart.
Follow your curiosity.
One great tool in deciding what should be next is to focus on your curiosity rather than your boredom with the status quo. What in your work - or in life - makes you curious? Listen to that impetus and follow that instinct. For example, I'm endlessly curious about people and what makes them tick - which led me to jobs across many different fields. In recent years, I've spent much of my free time reading about creativity, psychology and behavioral economics. I could spend all day learning more about these things. That curiosity has guided me to look for roles focused on deeply understanding people and uncovering the implications for product innovation and business challenges. This makes my work endlessly interesting to me, and so I am more productive and successful in what I do.
What sparks your curiosity and what does that say about you? I find this far more useful a question than "What is your burning professional passion?" The wonderful Elizabeth Gilbert puts it this way:
"Passion is a tower of flame, but curiosity is a tiny tap on the shoulder — a little whisper in the ear that says, 'Hey, that's kind of interesting…' Curiosity is therefore a lot easier to reach at at times than full-on passion — and the stakes are lower, easier to manage. The trick is to just follow your small moments of curiosity. It doesn't take a massive effort. Just turn your head an inch. Pause for a instant. Respond to what has caught your attention. Look into it a bit. Is there something there for you? A piece of information? For me, a lifetime devoted to creativity is nothing but a scavenger hunt — where each successive clue is another tiny little hit of curiosity. Pick each one up, unfold it, see where it leads you next. Small steps. Keep doing that, and I promise you: The curiosity will eventually lead you to the passion."
I realize not all of us are fortunate enough to have the luxury to decide whether to leave a job. We may be laid off or underemployed and discouraged. If we're searching in vain, I find curiosity can be a good way to find new avenues to explore beyond the paths that are leading nowhere.
Pay attention to the people.
For me, my colleagues matter above all else. A dream job wouldn't be a dream job if I had to work with horrible people. If I break down my waking hours during the work week, I spend more time with coworkers than with my family and best friends. So it's deeply important that I work in an environment that is constructive, with people who bring out my best. Above all, I came to my current job because of how much I liked the culture, my colleagues and leaders. Over the years, I've learned the hard way that it's paramount to focus not only on what is the job but whom it's with. If you're thinking about leaving your job, is it the job or your colleagues that have generated your desire for change - and what does that tell you about where to go next?
Run to, not from.
Dissatisfaction with the status quo is a good reason to consider a professional change - but it's not a reason to take a new job. Focus on running toward an opportunity more than fleeing a current situation. You want to make sure that what's ahead is better than what you're longing to leave behind.
One useful tool is to make a list of what you most want in a new role. My list has changed over the years, but at the top is usually an opportunity to stretch myself beyond where I'm comfortable, a leader and colleagues who knock my socks off, and a deep curiosity about the subject matter. Then I force myself to evaluate opportunities against my list. This has caused me to decline some job offers that looked very good on paper, even when I was ready to leave my current role. I was always glad later that I had the patience for the right big thing.
As Sallie Krawcheck says, wait for the fat pitch.
Know what matters most, because it won't change.
Another reason that list is important is it protects us against future bias. As Ayelet Fishbach wrote in the New York Times yesterday, we tend to embark on job searches with a focus on salaries and titles and forget the everyday, intrinsic factors of "office morale and doing work that is interesting and fun."
"Why are people fully aware that present benefits are important in their current job, and yet expect not to care about those benefits in the future? ... A basic instinct from behavioral science is that people care about the present mainly in the present. They do not really care about it in advance... We fail to recognize that the person we are in the present - the one who values intrinsic benefits - is awfully similar to the person we will be in the future."In other words, when considering change, don't just think of the points of arrival and departure. Take into account the journey ahead, once you accept a new role. Think about whether you will like living it, day by day. Listen carefully to the voice that is wondering if you should try something new. Know that it isn't simply asking for a switch. It's seeking the greater experience of what comes after the change is made.
Originally posted on Linked IN by: Katya Andresen
Contact John Assunto for all of your Education Recruiting needs! Johna@worldbridgepartners.com or 860-387-0503
How to get Faculty to Market the college & Why Colleges's need to include Quora in their Marketing Strategy.
I was googling for insights on SEO techniques for colleges and got a bunch of Quora answers. Some of the answers were really good. Before I knew it I had spent hours on Quora and ended up reading blogs of writers with good answers.
What is Quora?
Quora is a social Question and Answer website. The very definition of Quora should be enough to pull teachers and professors who love to gain and impart knowledge hooked on to it! Launched in 2009, today Quora gets more than 100 unique hits daily.
Most of Quora’s users are located in India! The age range is broad, however over 90% of Indian users are in the age group of 13- 34 of which 60% are of the age of less than 24.
Furthermore most Quorans are far more educated than the average Internet user.
Do you need any more reasons for your college to include Quora on your social media strategy list? Okay, so here's more.
Quora is the greatest source of UGC (User Generated Content) Users ask question at the rate of 6000 questions a day, but the real burst of content comes from the answers! Some of the answers are over 5000 words complete with graphics and charts. Now, there could be a question on you too! Like this one
Similar question and answers on courses, life on campus, experiences from college life and so on have been asked on Quora with hundreds of answers from students & alumni. Some answers generate thousands of upvotes and share. The answer below on “What should a first year CSE student do in the 40 days holiday before starting of 2nd year? Has over 3000 upvotes and shared multiple times.
These answers can be shared on other platforms by the author or anyone who is reading it. With such a powerful platform to share your views and get it out to genuine leads you must wonder why is your faculty still not on it!
Some questions get over 100+ answers and if relevant you must answer these questions. The Picture below shows a question with 100+ answers. If a college had an official strategy in place they could have generated several leads from a question like this and reached out to over 10,000 users.
Now that we have established Quora can help your overall social media strategy, let us get into How does one convince your faculty to be on Quora and actively participate.
1. IT IS ADDICTIVE: There are several reasons why we have a strong reason to believe that once introduced to the platform faculty will take on to it without excessive push. This is because teachers as I earlier mentioned love to learn, teach and express opinions. Topics range from Astro Physics to History to Bollywood gossips so each teacher can find their topic of interest and with their expertise knowledge in their field they could easily rise to becoming the most read author.
2. IT WILL HELP BUILD THEIR PERSONAL BRAND: Quora answers have been quoted by established blogs and social media content developers like BUZZ FEED and others on a regular basis. Also everyone interested in the topic start following good authors. This helps the teachers establish their own personal brand and get noticed in their community.
What’s in it for the college?
The more your faculty writes on Quora the more referral traffic you are bound to get on your college website. If you carefully track your Quora referral traffic they are bound to generate meaningful leads. Some of the answers make for a great tweet on twitter. Good informative answers make for a great content on both twitter and some times on LinkedIn and Facebook.
The great thing of Quora is that it is free, there is no money involved in making your answer trend and so on and so forth, hence more quality answers your faculty produces the more limelight your college gets!
Originally Posted on Linked IN by: Jay Bagri
Contact John Assunto for all of your Education Recruiting needs! Johna@worldbridgepartners.com or 860-387-0503
By Joni Burton, CEO, JVS Career Services
Have you ever wondered why some people move up in their careers, getting one promotion after another, or being recruited by other organizations? Their credentials don’t look any better than yours; in fact, you may even have better credentials. Moving up your career ladder requires more than simply doing well at your current role, but it’s not rocket science.
First, you need to believe in yourself and get comfortable “tooting your own horn.” When you land that big new account or reduce the operating expenditures for your department, your leadership should know about it. Write an email to management praising the team that helped you achieve the accomplishment. For some, self-promotion isn’t easy or natural but modestly showcasing your own strengths and achievements may be the only way others see that you’re ready to advance and are capable of excelling in a promoted role.
Act like you are in the position that you want to be in. I was in sales for many years, and at one point, I was ready to move into management. Touting my achievements as a salesperson wasn’t enough, because management is not about sales. Being a good salesperson could not demonstrate to management my skills as a leader. I started acting like a manager by being a mentor to other sales people and emulating what I watched other good leaders do. I also stayed out of any office politics. Management took notice, and when the next sales management position came open and I applied for it, I got the promotion.
Don’t be afraid to speak up. If you are in a meeting, be an active participant. If you have an idea that will help your supervisor complete a project, speak up about it. Even if he or she doesn’t agree with your idea, this will showcase your leadership skills. If your supervisor likes your idea, be ready to help him or her execute it.
Manage up, down, and sideways. If you have a problem, your manager should know about it, but don’t just bring the problem to your manager — have a solution to offer. If you see some potential issues with something you are working on, let your manager know early, and let him or her know how you will manage the issue. You never want your manager to be blindsided with a problem that has been going on for a while. Remember, he or she has to manage up, too. Additionally, communicate well with your team, be open to input, make it a priority to maintain good relationships with your peers.
Present the right image. Dress like you’ve already been promoted. Look at what your management is wearing, and dress like them. Err on the side of professional when it comes to work attire. Dressing too casually or provocatively may draw attention, but not the type of attention that will get you a promotion.
Promotions aren’t just for folks with good luck. The more you incorporate these strategies into your routine, the better prepared you will be for the next advancement opportunity. Hopefully that promotion will come soon!
Make sure to check out the JVS Career Services Job Postings on www.jvscareers.org.
Joni Burton, CEO of JVS Career Services, is a seasoned Senior Management Executive with decades of experience in recruiting, staffing and management. In her role as CEO, Burton is focused on growing the agency and significantly expanding both types of services offered to job seekers and employers, and the number of clients served.
Prior to joining JVS Career Services, Burton served as CEO of ERB Solutions, a permanent placement and staffing company that assisted organizations in recruiting top-notch talent. Prior to this, Burton was President of Trasys, Area Director for CIBER, Territory Manager for CompuCom and Area Vice President for Whittman-Hart (marchFIRST/Divine) where she was instrumental in taking the firm from an unknown consultancy to one of the leading firms in the country.
Also, Burton is active in Jewish Family Service and The Jewish Federation of Cincinnati.
Burton has a Bachelor of Science Degree from The Ohio State University Fisher College of Business.
Originally Posted on Linked IN by: Joni Burton
Contact John Assunto for all of your Education Recruiting needs! Johna@worldbridgepartners.com or 860-387-0503
The ever-increasing presence of knowledge workers (people who know more about what they are doing than their boss does) presents challenges to modern-day leaders that their counterparts in years gone by were not called to address. The main challenge is: “How do you help your team members achieve their goals when you – as a leader – are not an expert on the topic?”
One thing great leaders don’t do is pretend to be an expert! This can lead to disaster in so many ways. Below is just one example. I’d love to hear your ideas! Please share with me in the comments your thoughts about how pretending to be an expert can be disastrous!
When someone comes to you with an idea, and rather than say good idea, you say, “why don’t you add this?” or “why don’t you do that?” you take ownership of the idea. Your input makes it your idea and it is no longer their idea.
So, given you follow this suggestion and do not pretend to be an expert, how do you lead today’s highly skilled professionals who so often know more about their jobs than you do? The simple answer is that it takes special skills — and not the ones that you may think.
You have to look at leadership through the wants and needs of the worker as opposed to the skills of the leader. Here are six quick tips for effectively managing knowledge workers.
Originally posted on Linked IN by: Dr. Marshall Goldsmith
Starting in 2015, an unprecedented yet persistent phenomenon has sprung up in the United States – for the past 18 months or so, there have been more unfilled job openings than there have been actual people hired in the US.
Here’s a graph from the Department of Labor that shows that trend:
In July, there were 5,788,000 job openings in the United States, whereas only 5,084,000 people were hired that month, according to the DOL. That’s the most job openings ever recorded in a month since the DOL started tracking the stat in 2000.
What does that mean? The skill gap is alive and well in the United States, as companies are looking to hire millions of people, but are having trouble finding talent with the right skills.
It also highlights the economic effects of the skill gap. If those 5.7 million job openings were filled, the unemployment rate would drop from 4.9 percent to 1.29 percent, which would be the lowest non-wartime unemployment rate in American history.
Another indication of the skill gap – sloooow hiringHere’s another unusual yet persistent phenomenon that has sprung up – companies are taking longer to hire than ever. The Washington Post reports that it now takes companies 23 days to hire someone, up from 13 days in 2010.
In their article, the Post quotes economist Andrew Chamberlain on why that is. He said it’s likely because low-skill jobs are quickly evaporating in the United States and are being replaced by high-skill roles.
"My belief as an economist is that it has to do with a shift away from more routine jobs, to those that require more judgment," Chamberlain told The Post. "Those jobs are harder to screen for, and more costly if you make a mistake hiring for them."
Combining the two aforementioned data points, it’s evident the job openings in America are increasingly for high-skill jobs. And there are not enough people in the American economy who have the skills necessary to fill them.
What’s the solution for organizations?There are obvious economic consequences from this skill gap. But think about it from an organizational perspective – many companies have a need to hire, and yet can’t find people with the right skills to do the job.
This makes sense, as research shows skills are evolving faster than ever. Fact is, employees and the educational system can’t keep up with so much change.
That leaves smaller and smaller pockets of people with the right skills for certain jobs, who are becoming increasingly sought after. Rather than overspending to compete for them, a better solution for companies is to look for people who have the potential to learn, and then provide them with the needed training to learn those skills.
Some organizations are hesitant to do this because it takes hires slightly longer to get up-to-speed. But that’s a minor cost compared to the much bigger problem of consistently being unable to fill open roles, which kills growth.
Originally posted on Linked IN by: Paul Petrone
Contact John Assunto for all of your Education Recruiting needs! Johna@worldbridgepartners.com or 860-387-0503
It's natural for us to reflect and look back on what we have managed to achieve in the previous year during the month of January. As well as a time for nostalgia, it also gives us the chance to set out our main goals for 2017 and drive ambition throughout the business.
For me, January presents itself as the perfect opportunity to ask my staff if they are happy, if they feel valued in their role and ultimately, why they still work for me, and you should be doing the same.
Remind them why your business is a great place to work, take their comments on board and if you’re brave enough, ask them the question: Why are you still working for me?
If their answer to the question is weak and you are not convinced by the response, you should be starting to think about how you can adapt your working environment to re-motivate them and provide an environment where they can flourish. Also, think about how you are communicating the businesses ambitions and vision for the future. If you own a business, or are in a leadership role, the business vision may be clear to you, but how well is that being communicated to your staff who are dealing with customers day to day?
Start with asking your employees what they do and don’t like about working with you, how they work best and what you can do to help, and see if they are clear on their role within your organisation. By doing this you are diminishing any feelings of fear or anxiety and enhancing your personability.
It is really important you gain an understanding of how satisfied your employees are in their role and asking this question can help you do that. Remember, if someone is reluctant to give any feedback or they seem to have some underlying issues, they are a prime target for headhunters.
Motivating staff is the key to creating a happy, productive environment. I ask all of my employees to send me a weekly report of their projects, highlighting what they have done to make a difference that week. I find this helps to establish purpose as my staff feel valued in their role and know that I am interested in their progress.
Working in an open planned office also adds to this mentality. The benefits of working collaboratively in an open planned office are endless for employees and employers alike. Working alone at a desk can be very lonely and disheartening. A lack of physical barriers in an office space makes it easier for employees to interact with each other on a regular basis and this constant intermingling encourages camaraderie and teamwork.
It's also important to show there's no hierarchy - I purposely sit opposite my communications team so I know what’s happening with the brand at all times and this shows I am available for anybody to ask for advice or assistance without having to knock on a door or plan a formal one to one - this way interactions in the office are more frequent and informal.
This increased collaboration often lends well to business innovation, a key component in entrepreneurial environments.
Don’t be afraid to be open and ask your employees why they are still around and why they still work for you. The insight you gather from this exercise could be the difference between your staff thinking ‘new year new career’ or ‘new year I’m happy here’.
Originally Posted on Linked IN by: James Caan CBE
Contact John Assunto for all of your Education Recruiting needs! Johna@worldbridgepartners.com or 860-387-0503
Happy new year. Welcome back. Hope you had a great holiday. Hope you spent time with the family. Hope you decompressed.
Now….back to work. And time to think about your 2017 raise.
Wait, you may be saying, “I just got through the 2016 review process”….or “I just got a raise”….or “Do I have to gear myself up for that whole draining, exhausting, emotional process again?”
Yes, you do. Because I’ve worked with a lot of people – and had a lot of people work for me – over the years, and one of the biggest mistakes I’ve seen is that they treat “getting a raise” as a once-a-year exercise. As a result, they don’t properly set the groundwork for their raise in advance. That means having a conversation with their boss, early in the year (perhaps this week?) to discuss: what your success looks like, what your team’s success looks like, what your department’s success looks like, what your company’s success looks like, what is key to your boss in the coming year, and what (s)he will want to see from you over the next quarter and the next year. Not just vaguely. Instead, if something can be quantified, it should be quantified: x number of new clients, y% revenue growth, z customer satisfaction score, x new hires, y% expense reduction, x level audit scores. You get the idea.
And this conversation should not be a one-and-done for the year, but instead should be an on-going dialogue, updated at least each quarter. Oh, and keep careful notes, as memories shift over time. (Though I swear I used to remember every word of every one of my performance discussions verbatim. Literally.)
Other mistakes I’ve seen:
You don’t know how much you should be earning, so you don’t even know what the heck to ask for. This used to be a tough one. Maybe you had to interview a bit outside of your company to get a read on how much you should be paid; or you would take a co-worker out for drinks to pump him / her for information. But mostly you would just guess. Today, you can visit GetRaised, Payscale, Ziprecruiter and Comparably to get salary information, just to name a few. Hired.com takes it one step further and is actually a marketplace in which companies bid for talent. None are perfect, but taken together, you have a lot more information than you could historically get from a few boozy evenings.
You don’t have a back-up plan when you’re told no to a raise. So much of the “get a raise” advice starts and stops with “get the raise.” But what if you’re told no? (And you can be told no for a lot of reasons that have nothing to do with your performance; maybe this year, there simply is no budget for raises.)
Then why not immediately follow up with another ask, one that may not be dollars in your pocket today, but that has its own form of value? Think a special rotation in marketing, a coding class, an assignment in Hong Kong, being mentored by the new executive hotshot, flexibility to work from home, flexibility to get an executive MBA, partial payment for an executive MBA, full payment for an executive MBA, a language class, becoming part of the recruiting team, representing your company at an industry conference, a promotion, a recommendation for an advisory position at a start-up. You get the idea.
You simply don’t ask, and expect karma to take care of you. I can’t tell you how often in my experience women (men, too….but really women) simply never asked for a raise. Newsflash: karma doesn’t care about you and likely won't deliver you a raise. And not asking is a reason – not the reason, by any means, but a reason – that women continue to earn less than men.
You spend the raise. You should invest it instead. Or at least some good chunk of it. I mean it. I know I’m a broken record on this topic, but I firmly believe that investing is the best career advice that women (and everyone) are not getting. That’s because, by putting that raise to work in a diversified investment portfolio, you give yourself the opportunity to earn a higher return than in cash – and, of course, a higher return than spending it….. Not investing as much as men (the “gender investing gap”) has historically cost professional women hundreds of thousands – for some even millions – of dollars over the course of their lives. (Closing this investing gap is why I founded Ellevest.) So investing can better help you retire, of course; but as you build bank outside of the office, it can also give you more confidence in the office.
Sallie Krawcheck is author of Own It: The Power of Women at Work, out on January 17. (You can pre-order it here.) She is the Co-Founder and CEO of Ellevest, an innovative digital investment platform for women. She is Chair of Ellevate Network, the global professional women’s network, and of the Pax Ellevate Global Women’s Index Fund.
For information about Ellevest, a Securities and Exchange Commission (SEC) registered investment adviser and its financial advisory services, please visit the firm’s website (www.Ellevest.com) or the SEC’s Investment Adviser Public Disclosure website (www.adviserinfo.sec.gov).
Originally posted on Linked IN by: Sallie Krawcheck
Meet the Team
WorldBridge Partners earned the Best of Staffing®Award for providing remarkable service quality. Fewer than 2% of all staffing agencies in the U.S. and Canada earned the 2015 Best of Staffing Award for service excellence. With satisfaction ratings more than three times higher than the industry average, the Best of Staffing winners truly stand out for exceeding expectations. This award identifies the staffing industry's elite leaders in service quality.