A lot of people work in high-paying positions in comfy offices, yet complain about their jobs. This is usually because of a lack of defined purpose. In comparison, many people working in anonymous positions, get more comfort due to the pride they take in. Some tactics have been identified which will help professionals connect their work with a larger purpose. This can begin with linking work to the ultimate service every profession requires. Professionals could also try job crafting. This is the condition where team members take turns at excellence at aspects of the work they most believe in. A business research assignment taken up by a professor from Yale found this phenomenon most useful when she encountered this among hospital staff. To flourish in the long run, one needs to forge positive relationships at work. At the end of the day, one must remain true to the final mission of the work.

Source:https://hbr.org/2017/12/to-find-meaning-in-your-work-change-how-you-think-about-it?utm_campaign=hbr&utm_source=twitter&utm_medium=social

Uploaded Date:18 January 2018

Increasingly, professionals are adopting the path of remote working. This could be either through freelancing mode,doing a certain part of the work remotely or even setting up one’s own startup venture. A study conducted by marketing research leader Gallup shows that the number of such gig workers has gone up to 43% in the US compared to the figure of 39% back in 2012. Even the average hours dedicated to such modes by such independents has also gone up. While in most quarters it has led to a spurt in productivity, it has also led to the accumulation of some lifestyle related ailments. As the former Surgeon General of the US says, that “loneliness epidemic” is today a bigger problem than obesity. That is why co-working spaces are now thriving. A study conducted by Emergent Research shows that more than eighty percent of respondents claim that working at such spaces ahs increased their social interaction, expanded social networks, they feel less lonely and are even happier. It is expected that by 2020, nearly four million people will be engaged at co-working spaces, with each on average costing a rent of about US$ 350 a month. Companies could also consider placing their employees at such co-working spaces as most users have been highly satisfied and found the prices fair.

Source:https://hbr.org/2017/12/coworking-is-not-about-workspace-its-about-feeling-less-lonely?utm_campaign=hbr&utm_source=twitter&utm_medium=social

Uploaded Date:09 January 2018

A lot of business literature has been dedicated to visionary founders such as Bill Gates, Jeff Bezos or Richard Branson who have run their companies with great success. However, they represent a tiny fraction. A study collated by the universities Harvard, Duke and Vanderbilt have produced a startling result that most companies that continue to be run by their founders, fare much worse than those not. Business research finalized by the World Management Survey shows that founder-led companies perform 9.4% worse in terms of productivity. A professor at the USC Marshall School of Business, studied more than two-hundred start-ups from the last two decades to conclude that only half of those were still run their founders just three years on. The number reduced to a fourth by the time of their IPO. The reasons are quite straightforward. External investors do not want to fund companies still dependent on a single person, so insist on independent CEOs. Also, the skills necessary to start a new venture are not the same as running a larger firm. Many entrepreneurs chose the life in the first place to escape the complications of working at large firms, so are loath to follow conventional management principles. There is a “rich versus king” test, where the founders need to choose between making more money by following professional guidelines, or to retain control to the chagrin of profit-making. The first leadership transition in many ways makes or breaks a new firm. Source:https://work.qz.com/1125919/we-finally-have-proof-that-visionary-founders-make-the-worst-ceos/?utm_source=Quartzaw&kwp_0=602358&kwp_4=2125075&kwp_1=887702

Uploaded Date:13 December 2017

We are at the cusp of a new industrial revolution driven by the internet. The opportunities here are immense for the market leaders at various categories. Certain principles have been identified by PwC, which can help companies navigate through this period and leverage their existing capabilities. First of all, the business model needs to be reimagined according to emerging trends. The corporate strategy used to be a by-product of merging various touch points at the value chain. Now it can be done merely by leveraging digital platforms. Design thinking has emerged in a major way, so it must be done keeping the customer expectations at the centre. Innovations must be identified and scaled rapidly. The existing data needs to be captured in a way to provide useful insights on how best to improve work. The financing models similarly need to be geared towards present patterns. Technological acumen needs to be given a push either through in-house training or fresh talent recruitment. The industrial-era focus on products need to give way towards an incline on the side of purpose. The data captured needs to be used ethically so as to avoid trust issues. In spite of the emergence of machines, humanity needs to be put at the centre of all decision making.

Source:https://www.strategy-business.com/article/10-Principles-for-Leading-the-Next-Industrial-Revolution?gko=f73d3

Uploaded Date:13 December 2017

The definition of the “American Dream” has evolved ever since the Great Recession hit off. The employer-employee contract has now broken down. Fewer people are finding value for the shift they are putting in. Business research conducted by a professor at the Centre for Workforce Development, claims that most Americans want more than just the decent pay for work. Instead they crave a permanent job that will allow them to retire at peace. That is why emotional resilience gets more important now than ever before. Both the working class and middle class are struggling to make ends meet. The middle class in particular has seen their numbers shrink to an all-time low. Professionals must also gather enough domain acumen so as to have self-knowledge on what they are good at. A self-evaluation tool has been curated for this purpose termed as the work/life matrix.

Source:http://knowledge.wharton.upenn.edu/article/episodic-career-navigating-todays-job-market/

Uploaded Date:13 December 2017

The McKinsey Global Institute has completed a study on career work choices and the way different people work. Unsurprisingly, a substantial population of the workforce is engaged in what is now termed as the gig economy. More than one-hundred and sixty million people across Europe and the US are part of the independent workforce, which makes up between a fifth to a third of the working age population. These independent workers however, are not homogeneous but may be divided into four categories beginning with the Free Agents who have chosen this life, so derive entire income out of freelancing. Casual earners are those who have a main full-time job but supplement their income through such work. Reluctants are those fully into freelancing, but would rather take up any full-time post if available. The financially- strapped have chosen this mode due to necessity. The first two categories of independents tend to be more satisfied about their work than the last two. Free Agents in fact display greater average satisfaction levels than even full-time workers. Business intelligence derived out of this study estimates that the largest segment among these are casual earners who make up about two-fifth of total independents, while reluctants make up the lowest segment at around fourteen percent.

Source:https://www.mckinsey.com/global-themes/employment-and-growth/independent-work-choice-necessity-and-the-gig-economy

Uploaded Date:13 December 2017

Danish shipping giant AP Moller-Maersk has appointed a new chairman, Jim Hagemann who is also holds the same position at Swedish tech giant Siemens. Hagemann is very young for the top position, but his command over digital practices gave him the edge. He is also a member of the World Economic Forum (WEF) and taught at the Copenhagen Business School. Such dual appointments are likely to reduce over time as per business research conducted by INSEAD exploring the corporate culture at present and expected to evolve across countries at top management level. The study was conducted across the UK, Denmark, Belgium, Italy, Turkey, Singapore, Russia and the Netherlands. For a start, by 2027, diversity in female representation is expected to increase, especially at Denmark and the UK which report figures of 25 and 20 percent respectively. Singapore is more lukewarm while Russia seems least likely to see this revolution. Career paths are also expected to change. While for most it will be a direct progression from the CEO position and technology will lead the numbers in terms of industry, the scope should widen to include professionals from academia or management consulting. Increasingly board meetings will be virtual, though Turkey is less excited about this than Denmark or the Netherlands.

Source:https://knowledge.insead.edu/leadership-organisations/how-boards-will-look-in-ten-years-7196

Uploaded Date:30 November 2017