The present economy can best be described as one for superstars. This applies for every conceivable, often mutually-disparate field such as coding, money management, digital marketing through social media, acting or even sports with some people getting paid disproportionately better than majority of the rest. This is a very inefficient way to run teams, as every sports star knows he/she needs the full support of a team to be truly successful. There are however, signs of these trends dissipating as evidenced by latest business intelligence provided by Bloomberg. It says that the bottom quintile’s wage growth is now much better than it was back in 2007 before the economic slowdown. In fact, wages for the top twenty percent are reducing. On closer introspection, it appears the reason for this is that the top quintile is more affected by digitization and automation. At the bottom, the kind of work taken up much less disrupted by such technologies. In fact, job creation has been on a high for several years now with unemployment rates sliding down to record lows and job vacancies going the other way.

Source:https://www.strategy-business.com/blog/Whats-Going-on-with-Wages?gko=d3313

Uploaded Date:19 January 2018

Talent management is a lot about inking the right people to their kind of jobs. Insights gained from various assignments taken up by McKinsey suggests this is often not done right by organizations. To get this done, the company must identify in what ways it can create maximum value. As part of this, the most important roles within the specific context need to be recognized. After this, the personnel need to be fitted into key positions as per their competencies. Over a time period, people related challenges evolve. That is why organizations would be well advised to create a talent pipeline in accordance. Talent needs to be developed and performances evaluated accordingly. As per business consulting provided by McKinsey to one of their clients on similar patterns, the client saw aits share value doubling.

Source:https://www.mckinsey.com/business-functions/organization/our-insights/the-organization-blog/4-strategies-for-linking-talent-to-value

Uploaded Date:19 January 2018

There are times at any job that one does not feel valued for the work put in. Human beings have a felt desire to feel appreciated. However, at times, one needs to buckle down, face the situation and eventually force people to pay attention. First of all, one needs to be realistic. A personal litmus test must be taken to evaluate one’s work in contrast to own perception. Frequent discussions with the superior can also be useful. Sometimes, it is not about the individual, but maybe the entire team has been ignored. So, steps need to be taken to increase the visibility of the tea, as a whole. One can increase the use of “I” in place of “we”. At the same time, one mustn’t try to take all credit oneself at the cost of the team. One can start off by appreciating others’ work. While external appreciation certainly plays a part, validation need not only arise from such stimuli. It can also result from one’s own personal satisfaction at a job well done. In case things, still don’t work out, one can also consider the option of moving on to another organization. Any company that is considerate of its talent management practices, will fight to ensure its best people are retained.

Source:https://hbr.org/2017/12/what-to-do-when-you-dont-feel-valued-at-work?utm_source=twitter&utm_medium=social&utm_campaign=hbr

Uploaded Date:19 January 2018

The unemployment rate in the US now stands at around four percent while over six million positions remain vacant. Companies are thus struggling to match skills with key positions as testified in a study by PwC where seventy-seven percent of CEOs have confirmed that for their organizations, talent recruitment is proving to be the biggest challenge. To get this done, companies are partnering with high schools and colleges seeking a course overhaul. They’re even using business analytics tools to sieve through long employee application lists. However, the one ingredient that has repeatedly proven to be most crucial is – fair pay practices. Some crucial steps have been identified to ensure fair pay at the organization. First of all, fairness principles must be clearly laid out on paper. These must further be processed into formal people policies. Before venturing ahead, one must start by a present-state evaluation. Metrics need to be established for performance measurement. Finally, companies must embrace transparency at such dealings. They must be ready to tell people about their fair pay practices, as done by PwC.

Source:https://www.strategy-business.com/blog/Why-Fair-Pay-Is-a-Potent-Weapon-in-the-War-for-Talent?gko=486e0

Uploaded Date:19 January 2018

Most of conventional management literature has scoffed at notions of slow thinking, and instead popularized quick decision-making which is often reactive to situations. A lot of business leaders fall under this trap of being slaves to emails and round-the-clock meetings. However, several notable business leaders such as Warren Buffet, Mark Zuckerberg and Bill Gates have stayed free of this trend. They dedicate several hours each day to reading and slow reflection on matters. Such reflective thinking improves decision making, as people are then able to take in a sense of broader perspectives. It also helps safeguard personal developmental goals get a coherent view on corporate strategy and provide new perspectives. Some principles have been uncovered to ensure the art of reflective thought remains alive. First of all, specific time must be scheduled for such unstructured thinking as done by the CEO of LinkedIn. A set of questions may be drafted for careful reflection. Executive coaching has been proven to be an essential part of management training, so business leaders must avail the services of coaches as done in the Socratic Method. One must be extremely careful to stay clear of information overload. The business leader’s position should be that of a meta- solver. By this, the CEO needs to make sure that all issues get resolved to provide useful and productive solutions. So, the right questions need be addressed. He/she must also strive to be seen as a role model to the others.

Source:https://hbr.org/2017/09/how-to-regain-the-lost-art-of-reflection?utm_campaign=hbr&utm_source=twitter&utm_medium=social

Uploaded Date:18 January 2018

In today’s world of constant connection and large networks, it is getting increasingly difficult to focus on any particular task. Professionals are now constantly bombarded with text messages, alerts and other prompts. In addition, one also tends to focus on others’ work. This is how we lose focus so some methods have been uncovered which can help bring it back. First of all, one must acknowledge the dangers of multitasking. A study was conducted on this by an emotional training outfit Search Inside called Yourself Leadership Training Institute. The CEO of this firm provides vital business intelligence that the brain network usually works under the Default Mode Network, which helps analyse the past and plan for future. But during focus periods, the brain switches to the Direct Attention Network. With each distraction, the brain is back to the default mode, from which recovery can take up to eighteen minutes. Professionals must also work to remain in control of the situation, even after allowing for the usual emotional responses. One must abide by the personal values set. Attention needs to be gathered away from distracting tools such as social media. Some boundaries need to be put up consciously in one’s personal life too. One must also be careful about interactions and the people concerned. This includes work colleagues, as they can be the support at times of emotional distress. Crucially, one must ensure physical fitness as the body and mind work in tandem.

Source:https://hbr.org/2017/12/what-to-do-when-youre-feeling-distracted-at-work

Uploaded Date: 18 January 2018

A study conducted recently across more than a hundred countries involving thirty-five thousand plus professionals, paints a sorry picture on the focus levels of most. About three-fourths of leaders feel distracted most of the time or at least some time. About two-thirds surveyed, feel their minds are cluttered. As a result, most of them feel they are unable to complete tasks on time. Reasons for their distraction could be demands of other people as is usually the case with most, competing priorities, great workload or general distractions. In order to improve one’s focus, one must understand own daily patterns. As per a report submitted, majority of people tend to have highest focus levels early in the morning, lowest during the middle and relative in the middle towards the end of the day. While this is true for most, there will be individual differences, so people must understand what factors influence their concentration levels. A study was conducted by a professor from The University of California in San Francisco to understand this. An interesting piece of business intelligence arising out of this study was that negative emotions generally bring down focus levels while positive ones improve. Focus is not a one-time thing, as specific training can be provided to improve the same.

Source:https://hbr.org/2017/12/are-you-having-trouble-focusing-these-simple-strategies-will-help?utm_campaign=hbr&utm_source=twitter&utm_medium=social

Uploaded Date:18 January 2018