Tag: Leadership

Business and ManagementCulture & DestinationsEnglish and TechnologyMust ReadWorld View

The workplace setting in the 21st Century

By Academic Committee

Changes in the workplace are necessary to match the 21st-century skills demands. Global citizens today agree that as time goes by the place of work changes, but the competencies that go along with it should too. We cannot deny that the skills required in the 21st-century gear towards factors such as competitiveness, innovation, and creativity.

Workers nowadays need an advanced mentality, open mind and disposition to unlearn and relearn putting into practice soft skills such as time management, leadership, resilience, and self-direction, among others.

Workplaces are changing. Many workers are still illiterate when it comes to succeeding in the involving work environment, taking into account that company’s know-how goes hand in hand with technology.  The power of technology will promote modern devices and a more efficient communication network as the workplace setting improves. If a company wants to keep its quality and be competitive in its market, then workers will need to keep up with the latest technology trends and adapt rapidly to the changes that occur on a daily basis.

Companies have also seen the necessity to make adjustments in their infrastructure to promote spaces where workers can interact in different ways. Moreover, design places where creativity and innovation flourish. The need for spaces that nurture teamwork and discussion contribute to the development of creative solutions and distinct concepts gathering different opinions and points of view. Thus, generating change too.

As times change, society and minds also change. Back in the days having domain and knowledge in the core subjects at school were enough to be considered a successful person and prepared for the real world. Currently, this era takes much more skills than just being able to read, write and solve mathematical equations.

To gain success, we must now have a range of knowledge in diverse areas of expertise such as science, technology, and culture, as well as being creative, innovative, flexible, and possess the ability to work in teams, solve problems, think critically, and communicate effectively.

Assumptions regarding success in the workplace have also changed. It is not just about inventing a product that allures people because it is not costly and it works. Now it has to be original, significant and prepossessing. Moreover, many jobs are being delegated to other countries because they can save money by having other people do the same job for less pay. Technology in itself poses dichotomy as it advances, the workplace changes in a way where humans compete against it for the same job. However, if the personnel can adapt, learn and innovate it will outsmart computers and avoid a worker’s replacement since jobs now demand specialization.

Employees need to keep pace with competencies so that managers and directors can see that they possess the skills from the 21st century. They have to prove and make visible, making the right decisions, using the right information and tools, that they can do the job right, come up with the best solutions and produce the most incredible and rewarding product or service. Many professionals have already embarked in these skills adopting technology and software as essential to getting the job done making them a limited, yet valuable source due to the attitude rather than their expertise on the subject.

 

Business and ManagementCulture & Destinations

Nicaragua: Seeking talent in young adults

Academic Committee

In recent days, the Nicaraguan Foundation for the Economic and Social Development (FUNIDES) submitted the results of a study carried out to determine the competencies Nicaraguan employers demand from employees younger than 24 years old.

In Nicaragua, employability for young adults under 24 years of age poses a serious challenge for companies given that applicants lack the required competencies to fulfill the position requirements. The Nicaraguan Human Resources Association participated in the study and provided insightful statistics in regards to employability and skills domains for young adults.

  • 93 companies took part in the study
  • These companies represent a total of 17,000 employees
  • 23.52% (4000 employees) are 24 years old or under
  • 75% (3000) possess the competencies required and are currently working

The International Labor Organization (ILO) states that the easiness with which young adults enter the labor market suggests the relevance of the competencies they acquire during their education. This reference highlights that either the educational system does not cater to the labor market demands or is not providing competencies from one level of education to the other. Somehow, university education is bridging the gap between the technical and cognitive competencies. However, it is leaving aside the emotional and linguistic competencies in dire need for young adults to be hired or opt for higher ranked positions within the companies.

Companies are proctoring their screening tests to applicants and investing more time in the hiring process due to the distrust in the educational system to train young adults in the competencies needed. This process then becomes arduous and time-consuming for both the applicant and the company. Thus, representing an economic inefficiency that needs stronger measures in the public policies related to education, relevance, and credibility of the qualifications of the labor market within the age range. “An employee is a company asset, and compensation is an investment in that asset.” (Jacob Baadsgaard) Companies want to hire staff that grows within the businesses and becomes an asset instead of adding up to their turnover statistics due to the lack of socio-emotional competencies that are key not only to performing the job but also to keeping it.

General managers within the 93 companies surveyed in the study agree that when hiring young staff, they focus on the following competencies:

  1. Honesty
  2. Follow company standards of conduct
  3. Show enthusiasm and proactivity towards tasks performed
  4. Listen and tender respect to superiors
  5. Demonstrate ability to collaborate and work in teams

All socio-emotional skills ranked higher than technical and cognitive competencies. Also, they are the harder ones to find among applicants; although these may vary from company’s levels of performance or educational background. In essence, this lack of competencies goes hand in hand with incapacity the educational system to cater the demands of the labor market and becomes a true challenge to Nicaraguan’s educational system to make the changes and address the cognitive, technical and socio-emotional competencies within their programs. As Nicaraguan economy increases, there are higher demands for a better-prepared labor force, thus if not ready, this lack will transform into an obstacle that Nicaraguans need to overcome if foreign investment is attracted to the country.

 

 

Works Cited 

funides.com/wpcontent/uploads/2016/10/competencias_que_demandan_las_empresas_en_nicaragua.pdf.

Business and ManagementEnglish FactoidsLearning and Skills DevelopmentMust ReadTopics

Talent Management vs HR

Adapted and condensed from the article by Susan M. Heathfield (2016), ‘What Is Talent Management – Really?’

For those of us who are not so acquainted with the term “talent management”, it is a phrase used in the area of human resources to refer to a company’s or “organization’s commitment to recruit, retain, and develop the most talented employees available in the job market”. In other words, talent management is a strategy some companies have started to implement in the hopes of retaining their most talented employees.

What apparently sets talent-management-oriented companies apart from the ones that use the term “human capital” is the emphasis placed on the manager’s role instead of on Human Resources when it comes to the life cycle of an employee working for an organization. Therefore, in a talent management system managers take on a greater responsibility and play a crucial role in the recruitment process as well as in the ongoing development of and retention of top performers.

Some of the processes involved in the talent management system include recruitment planning meeting, credential review and background checking, on-the-job training, coaching and relationship building by the manager, just to mention but a few.

Most of the processes above mentioned are now part of the main responsibilities of managers in some organizations.  Human Resources’ role, on the other hand, is to provide support and backup, yet in terms of supporting, developing and coaching an employee comes from his or her daily interaction with the manager.

Talent management is a relatively new concept in the working world, and a consensus is yet to be reached, but certainly, it is a strategy worth trying out to contribute to the growth and well-being of any organization or company.

References

Heathfield, S. (2016). ‘What Is Talent Management – Really?’ The Balance. Web

Business and ManagementMust Read

Book Review – Give and Take

41VatwrWCeL._SX325_BO1,204,203,200_Book Title: Give and Take
Author: Adam Grant
Year of Publication: 2013
Publisher: Penguin Books

 

 

 

 

Review by Academic Committee

Adam Grant is Professor of Management and Psychology at the Wharton School of Business. He has been recognized as Wharton’s top rated teacher for five straight years and as one of the 25 most influential management thinkers among other distinctions. His research focus includes leadership and culture, job design and meaningful work, and work motivation and success. Adam Grant holds a Ph.D. from the University of Michigan in Organizational Psychology.

His second book, Give and Take, was listed as one of the favorite books of 2013 by the Wall Street Journal, as one of Financial Times’ books of the year, and as ideas that shaped management by Harvard Business Review.

Prof. Grant states that success not only depends on motivation, ability, and opportunity, but on the ability to interact with other people and nurture this network, more specifically on how much value an individual contributes and how much it claims. He discusses three types of people according to this premise: takers, givers, and matchers. Takers put their own interest ahead of others’ needs, they like to get more than they give, and they make sure they get plenty of credit for their efforts. On the other hand, givers like to give more than they get, and they focus more on what others’ need from them. In the middle ground, he places matchers, who try to keep a balance between what they give and what they take.

Giving and taking preferences are not about money, instead they are related to attitudes and social dynamics. In all areas, these preferences have their own benefits and drawbacks, and professionally they present highly complex interactions. Individuals with either of the three preferences are able to achieve success, but there are important differences in its degree and spread. The book emphasizes there must be a balance between these approaches, but giving allows individuals to maximize their abilities and leverage opportunities to achieve higher levels of success and well-being. Giving is both a powerful tool, but it can also be dangerous.

Dr. Grant presents unique approaches on how giving works in four key domains: networking, collaborating, evaluating, and influencing. He presents solid research and cases on how to manage each of these domains strategically to achieve greater levels of success. Furthermore, he presents possible drawbacks and problems and how to deal with them. Finally, the book explains practical actions to apply the principles presented, and it provides tools an resources for their incorporation and evaluation.