The corporate system often falls victim to the pareto principle’s trap. About a fifth of the employees end up producing for 80% of the people and vice-versa. This leads to a talent management conundrum where companies are not sure whether their star employees must be treated as such, or simply like the others. Employee engagement is a key driver of performance so companies must try to reduce this gap between the types of employees. Data-driven business intelligence needs to be extracted to identify who those 20%-odd employees actually are. It is a better practice to somehow get these employees to know that the company views them as most valuable to them. Special focus needs to be undertaken to engage these set of employees. Money is not the sole motivation, but instead there exist several psychological drivers. Appreciation, challenging assignments, promotion, time training exercises could be some of these.

Source:https://hbr.org/2018/10/should-you-give-your-star-employees-star-treatment?utm_medium=email&utm_source=newsletter_daily&utm_campaign=dailyalert_activesubs&utm_content=signinnudge&referral=00563&deliveryName=DM16558

Uploaded Date:27 October 2018

Workplace transformation is one of the key changes currently taking place in the world of business. This is because as stated by Nasdaq, 43% of the US workforce in 2020, will comprise of freelancers. As a result of this trend, co-working spaces such as We Work have seen exponential growth. Data provided by Career Builder reiterates this point of how in 2016 and 2017, there was a 47% jump in the talent recruitment of such freelancers. The hiring of freelancers enables companies the freedom to quickly execute tasks rather than waiting for the opportune moment. Additionally, there are financial savings and fewer legal hassles. However, a lot of the present freelance work platforms such as Fiverr or Upwork provide an unfair deal to the freelancers themselves as they charge a substantial portion of the revenues. The payments are also one time, even for content created with repeated usability. This is where the use of blockchain can be of massive benefits to all. Open Bazaar and Deconet are two such companies that have already started this allowing seamless financial transactions. It also provides for better collaboration among a network of freelancers.

Source:https://www.forbes.com/sites/yoavvilner/2018/10/06/the-financial-future-your-freelance-work-with-new-technologies-such-as-blockchain/#4aab29f44f9b

Uploaded Date:23 October 2018

It is commonly understood that to enhance the quality of experience at the workplace, fruitful relations with one’s superior is a must. Some bosses are known to be the types who will enhance this job satisfaction. Some common traits have been identified which will have the best of impact for supervising others. First of all, talent management is about dealing with individuals on a micro level and not overall teams alone. The most amazing of bosses put a lot of focus on finding meaning at work towards a bigger purpose. Feedback from employees is rarely taken, as understood from a study conducted in 2013 by the Society for Human Resource Management. But when done rightly, constructive feedback can lead to a lot of work improvements. Bosses are often associated with talking too much, but the best of them complement that by also listening to others to gauge authentic business intelligence. They are also consistent in their approach. Expectations do not vibrate overnight.

Source:https://hbrascend.org/topics/what-amazing-bosses-do-differently/

Uploaded Date:17 October 2018

Coworking spaces were meant to be a place where freelancers or remote workers could work together or on their own. But now several companies are cultivating coworking spaces for their own employees. A curious case in point is telecom company Orange based in France, where many of its full-time employees operate out of VBN, which is a coworking space. About half the employees at VBN are Orange’s. This has been observed to be an excellent method of talent management and employee engagement due to the collaboration that takes place in working with people from a diverse set of companies. Companies from different industries such as telecom, technology, automotive and insurance are jumping into the fray. Far beyond mere hipness measures, this is something that has brought genuine business benefits. There are two kinds of such company curated coworking spaces- Open Houses and Campsites. Open houses are where other companies may also work with few restrictions, while campsites are meant primarily for the mother company, with vacant space left open to the others. Companies are jointly exploring both the models. SAP for example has an open house named Hana Haus located in Palo Alto, while in nearby Silicon Valley, they run App Haus which is a campsite. The reasons for exploring such spaces broadly fall under three categories- transformation, business innovation and future-proofing. Before jumping into the fray, companies need be clear about the goals for entering in to this sort of arrangement. They need to have the right community managers in place to oversee things. The design is important, but there need not be overthinking on this matter.

Source:https://hbr.org/2018/09/why-companies-are-creating-their-own-coworking-spaces?utm_medium=email&utm_source=newsletter_daily&utm_campaign=dailyalert_activesubs&utm_content=signinnudge&referral=00563&deliveryName=DM14882

Uploaded Date:16 October 2018

In today’s digital age, a one-time degree is not sufficient. Instead leaders need to constantly learn new tricks and hone new skills to remain competitive. A questionnaire has been designed to gauge the learning ability of professionals. The questionnaire poses several questions such as taking time to reflect on past successes or failures, apply the lessons of failure to future work and whether learning takes place from others in the team. It also speaks of among other matter corporate training especially on compliance matters, and the seriousness by which this is undertaken. The questionnaire also indirectly urges the participants to take up challenging assignments and not to shirk away from risks or stretches.

Source:https://www.strategy-business.com/feature/Are-You-Increasing-Your-Learning-Agility-Or-Are-You-Missing-Out?gko=3a660

Uploaded Date:27 September 2018

Travel review and bookings site Trip Advisor is planning to launch a new interface by the end of this year, where users can create their own profiles and upload pictures or stories. Trip Advisor wants to be the one-shop solution for the entire travel journey, beginning from reviewing destinations to experiencing it. The exact details are sketchy and doubts remain whether users would want another social media feed on top of the existing ones such as Facebook and Instagram. Trip Advisor asserts that 66% of all travelers are influenced by travel reviews followed by referrals which stands at 62%. The company also claims that it gets a total 456 million unique visitors each month generating tourism worth US$ 546 billion, which is a tenth of global tourism spend. Business intelligence provided by Oxford Economics puts total tourism economy at 5.3 trillion and growing at faster than global GDP. Trip Advisor has also confirmed that due to the platform’s tremendous reach, brands are tying up for potential digital marketing gains. The list of such collaborators during the test run includes National Geographic and Go Pro. Big city retailers like Tiffany or Macy’s may soon need to reconsider their position looking at the travel portal’s incessant growth potential.

Source:https://www.forbes.com/sites/andriacheng/2018/09/17/tripadvisor-wants-to-become-your-new-activity-feed-just-for-travel/#71ebd2c57c82

Uploaded Date:27 September 2018

While robo-advisers have been in the game for a longer duration, robo-recruiters are now making a name for themselves. Several companies in the USA and Canada have started making use of robots for the purpose of talent recruitment. Toronto-based Fintros is one such company that develops such robots to de deployed by clients such as Back Rock and Bank of America. These robots make use of Artificial Intelligence (AI) to scan resumes. Robots zero down on women candidates much more than human recruiters do, as the former do not suffer from the inherent biases afflicting humans. Robots are also better are maintaining secrecy so that existing employees may seek work elsewhere without damaging their prospects with current employer. Another such startup from Canada, Plu.io matches the people and jobs to skills rather than past experience or academic records. A Plum Profile makes use of logic games and multiple-choice questions to identify results. Work engagement can also be improved using AI-based software.

Source:https://globalnews.ca/news/4474937/robo-recruiters-artificial-intelligence-unconscious-bias/

Uploaded Date:27 September 2018