Showing posts with label Raghav HR Consultant. Show all posts
Showing posts with label Raghav HR Consultant. Show all posts

Thursday, April 10, 2014

Employee Engagement or Events Management ??

One of the important objective of HR is - Engaging Employees to have a sustain workforce - builds a talented employees committed to the growth of an organization.
Engaged employees are rare. According to Gallup's State of the Global Workplace report, only 13% of employees worldwide are engaged at work
What is ?
Employee engagement first. No company, small or large, can win over the long run without energized employees who believe in the mission and understand how to achieve it. That’s why you need to take the measure of employee engagement at least once a year through anonymous surveys in which people feel completely safe to speak their minds.
Jack and Suzy Welch
Why is it important ?
As a HR practitioner we all know the how valued our employees are and there are numerous occasions to celebrate these. Creating a Rewards & Recognition Programs are critical for enhancing the motivation levels of employees both at individual and team level.
When ?
  1. Events and Occasions to celebrate
  2. Individual Milestones - Birthdays, Wedding Anniversaries, Womens Day, Fathers Day etc etc
  3. Group Achievements - Team Work, Project Completion, Product Releases etc
  4. Company Milestones
  5. Large Contract Wins, Clients Appreciation, Turnover / Profitability Achievements
My interactions with HR folks handling employee engagement often reveal the more focus on making more and more events to "engage" employees. If we are to consider the costs and the results in reality they do not quite add up. Attrition continues to happen even in the best of companies who boast of carrying a year long list of activities just to keep the employees connected and engage.
Sadly many feel that employee event management = engaged employee which is a wrong notion. There is no guarantee that the so called parties / outdoor events will eventually culminate bonding between the employees and employer. They are essential but not the only solution to engage highly skilled work force.
Proactively Engaging employees :
Besides having a well thought our plan for events and activities, HR should more focus on how to make employees truly engage themselves and apply at work ! While the events do have a shorter memory lane, it is what the employee perform is more important than their participation in parties and picnics.
In my opinion Companies should provide
  • Challenging Work
  • Learning Opportunities
  • Technical support
  • Clearly defined tasks with timelines
  • Constant Feed back - good or bad should be given without any hesitation.
  • Reward and Recognition for the best performers
Various stages at which Employee Engagement can be implemented include :
  • Recruitment
  • Training & Learning
  • Compensation & Benefits
  • Performance Management
Measuring levels of Employee Engagement -
As per Gallup there are 3 types of employees and they fall broadly into -
(a) Engaged
(b) Not Engaged
(c) Highly Dis-engaged.
HR should focus more on how to convert the 2 categories which are not connected with the business objectives and lack a true engagement with the work. Sharing a sample of initiatives of IBM in the link -

Tuesday, March 19, 2013

HR Lessons from Campus Hiring Mistakes


IT is quite disturbing to see the plight of the students who are offered and joining dates deferred.  The news story given below tells the sad state of affairs.

http://www.livemint.com/Industry/ZNB6oHQydTageXviByNOdJ/The-agonizing-wait-to-work.html

What are the HR lessons ?

Advise to HR Community

1. Withdraw Offers :
When the business is no longer supporting and customers demanding high calibre software professionals, the offers rolled should be withdrawn.  Students can seek other career alternatives instead of waiting indefinitely for the joining periods.

2. Compenstaion Review :
Lower the entry level salaries to half, since the learning curve and making these Students productive will be anywhere between 9 - 12 months.  This will reduce the Cost of Hiring and Training

3. Communication :
Instead of postponing the joining dates it would be a good idea to outright the offers if there is no business case.  It really takes lot of thought to ensure that the companys image is not tarnished by clearly establishing a case and change in the business environment

4. Outsourced Solutions :
There are many professional companies which are focused on Campus 2 Corporate offering training and onboarding solutions  The first 9 - 12 months of Fresh Engineering Grad is anyway unproductive and lot of energy / time is spent on making them accepted by customers.

5. Off Campus Drives:
Instead of visiting campuses and hiring in bulk, the HR should try to hire engineers who are available in the market.  With a large unemployed work force waiting in the wings, this will help the hiring to Just in Time recruitments as per the project needs

Advise to Student Community :

1. Do not decline offers in group companies.
2. Salary should be second consideration, to start a career they should focus on getting started
3. Make themselves 'employable' by acquiring the Technical Skills that are needed by company than simply acquiring Degrees.
4. Forget working on high end Java and Microsoft .net and focus more and more on Web Technologies.
5.  Keep updating your technical knowledge.

I request the HR / Recruitment / Hiring Managers to add their points and share to HR Community to avoid recurrence of these incidents.

Raghav
HR Guru

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Tuesday, September 14, 2010

Salary or Challenge - Which is Better ?

Does earning a higher salary make you happier? It’s an issue that tugs at many of us: the tradeoff between a satisfying job and a satisfying paycheck. Students have to ponder the question when considering a college major or embarking on a career.

Workers are concerned about it when weighing a promotion that would bring longer hours and more stress along with higher pay. In many ways, achieving the right balance depends on one’s values, priorities, family obligations and spending habits. But, according to a recent study in the Proceedings of the National Academy of Sciences, there is something of a magic number when it comes to income and happiness.

Beyond household income of $75,000 a year, money “does nothing for happiness, enjoyment, sadness or stress,” the study concluded. It’s not so much that money buys you happiness but that lack of money buys you misery, said Daniel Kahneman, a professor emeritus of psychology at Princeton and one of the authors of the study. “The lack of money,” he said, “no longer hurts you after $75,000.”

Where you live and the cost of living there has only a small influence on that number, he added. (That may be a revelation to some Manhattanites.) The study, which analyzed Gallup data of 450,000 randomly selected Americans, did find that one’s “life evaluation”, a self-assessment of one’s life, continued rising well above $75,000. But this is not the same as experiencing day-to-day happiness.

“Many people want to make a lot of money, but the benefits of having a high income are ambiguous,” said Kahneman, who is also a Nobel laureate in economics. When you are wealthy, you are able to buy more pleasures, but a recent study suggests that wealthier people “seem to be less able to savor the small things in life,” he said.

Even so, some people seem almost hardwired to want to make money. A 2007 article in The Journal of Happiness Studies reported that college freshmen who stated that they wanted a high salary by and large achieved that goal 20 years later.

The article said that “individuals with strong financial aspirations are socially inclined, confident, ambitious, politically conservative, traditional, conventional, and relatively less able academically, but not psychologically distressed.”

People who sought high incomes were more likely to major in things like business, engineering and economics, it said, while people for whom high income was not paramount gravitated toward the liberal arts and social sciences. “Wanting money is not a recipe for disaster, but wanting money and not getting it, that’s a good recipe for disaster,” Kahneman said.

People who want to become performing artists are likely to be unhappy, because most will fail, he said. Becoming a wealthy rock star is a common dream when you are young, but when you are in college, you should try to take a longer-term view, he said.

These days, of course, many people are worried about whether they will get a job at all. Understandably, the recession is causing more people to place the financial rewards of a career first, said Nicholas Lore, founder of the Rockport Institute, a career coaching firm, and author of “The Pathfinder.”

This could backfire, though, as people who initially pursue a field because of the salary realize that the work is unsatisfying. Lore has recently coached a lawyer who decided to forgo his high pay in favor of teaching law, an investment banker who decided to switch to a green energy company and a dentist who decided to become a schoolteacher.

It all depends on priorities, Lore said. Some people are willing to make lifestyle changes because the intrinsic rewards of following a passion or making a difference are more important than a high salary in an unenjoyable career, he said.

In the end, people should pursue what they’re interested in, said Daniel H. Pink, author of “Drive: The Surprising Truth About What Motivates Us.” Looking at lists of careers with the highest salaries tends to be a fool’s game, he said. “It’s very hard to game the system, in the sense that situations and conditions change so quickly that a field that is hot today might be only lukewarm in five or 10 years,” he said. “It might even be nonexistent.”

Let’s say you see that accountants are getting decent salaries directly out of college, he said, but you don’t really like accounting. “Chances are you’re not going to be very good at accounting,” and your salary will reflect that, he said. “Generally, people flourish when they’re doing something they like and what they’re good at.”

For his part, Lore said he was concerned that current economic woes might force people into poor career choices. “I would prefer that the economy was doing better and people were more adventurous because it often has an enormous effect on the quality of their life,” he said. Many people equate success with a high income, but, “How can someone say they’re successful if they’re not happy doing their work? To me, that’s not success.”

Source ET.com

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Thursday, March 04, 2010

'Software sector to generate 30 million jobs by 2020' - Som Mittal


The Indian IT industry that had taken a quantum leap, post liberalisation two decades ago, has matured over the years. Besides technology and domain expertise, cost has been a major factor in making India a software services powerhouse. But, for how long would India be able to sustain its competitive advantage when China and other markets are already making large strides to challenge its dominance in the sector? Changing dynamics of the macro-economic environment and the anti-outsourcing wave in the US continue to haunt the Indian IT sector. Nasscom president Som Mittal discusses the issues challenging the industry and lots more in an exclusive interview with FE's Ayushman Baruah. Excerpts:

Given that India faces stiff competition from China and other Asian markets like Philippines and Vietnam, for how long will it have an edge over these? What competitive advantage should India have to sustain its growth?

India has an advantage in terms of maturity, scale, robust process and customer confidence. However, we cannot afford to be complacent. India must focus on offering more value added services, build deep customer relationships and leverage innovation. We have to remain cost competitive as several companies already have outcome-based pricing. In several cases, these new emerging countries also serve as sites for business continuity programme. India needs to keep customers assured that it is a destination worth trusting. When work gets disrupted due to 'bandh' calls etc, it raises concerns.

Is Nasscom seeing any new shoots that keep India ahead? What potential does the domestic market hold?

Of late, our discussions with customers have been beyond outsourcing and offshoring. We have now shifted our focus to transform their business models and get countrywide increased efficiencies. There are new verticals like utilities and healthcare. Markets like West Asia and Latin America are still under penetrated. With regards to the domestic market, there are three broad segments: corporations, individuals/ small businesses and the government. The corporate spending in IT by corporations is increasing as they become more global. The scope to penetrate the other two segments is much higher. We estimate the government spend to be a big driver that is expected to reach $5 billion by 2011.

With changing dynamics in macro economic environment, do you see the number of applications for H-1B visas rising this fiscal?

This is a fairly complex issue. In the US or anywhere, jobs can be classified into two categories: temporary work that includes short-term assignments, and permanent jobs like account managers, system architects, etc. A lot of Indians work in the US on a temporary basis, mainly on application development and testing. Owing to talent availability issues in the US, maximum number of H-1 B visas applied for constituted applicants for temporary jobs. Now, the ability of Indian companies to hire locals is increasing. Hence, the need for H1-B visas may be lower. However, if the US economy turns robust, hiring by companies would go up, thus increasing the demand for visas.

Nasscom visited the US to meet members of the Obama administration in response to the anti-outsourcing wave in the US last year. What was the outcome of those meetings?

Given the sheer size of the market, the US is evidently where our focus lies. However, we continue to visit all markets to share our perspective. We spend a lot of time with law makers, executives, industry leaders and various think tanks in the US to prove how we can add value to them. With regards to the anti-outsourcing wave in the US last year, Nasscom believes that India adds to the competitiveness of the US market. Global sourcing —be it in manufacturing or services—has added to the US ability to grow as an economy. For example, the cost of a Barbie doll today is actually lower than what it was 50 years ago (accounting for inflation). This could not have been possible if talent and material was not procured from the most competitive locations. Many more such examples can be found in global markets.

How do you see the Indian software industry growing in the coming years?

Last year, revenue from exports of software and BPO services has grown 5.5% to $50 billion. Engineering services crossed the $10-billion mark. For FY 2010-11, export revenue is expected to grow 13-15% and the domestic revenue by 17-18%. Total revenue from the sector has the potential to touch $225 billion by 2020 and 50% of the total would come from currently untapped verticals like the public sector, healthcare, media and utilities and places such as the West Asia, China and Japan. This would have the potential to create 30 million jobs of which 10 million would be direct jobs. Nasscom has also projected that by 2020, 50% of the new entrants in workforce would be women.

What percentage of graduating software engineers are actually industry ready? How can this number increase?

Fresh graduates today are bright and trainable. However, in most of the cases they are not industry ready. This pressurises the industry to provide enormous training and re-skilling facilities. As an industry which is people-dependent and global, we need to equip our students with the relevant subject matter expertise and soft skills. Students are expected to have some basic knowledge but in most of the cases this is not happening. In our education system, neither the content nor the delivery is adequate. Education must be made relevant at the outset. The government is trying to make several changes, the impact of which would be felt in some time. Till then, we need the ecosystem of training institutes, schools and additional intervention (besides the in-house training) to keep things rolling.

Ayushman Baruah
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Sunday, February 21, 2010

War for talent has begun - are you game ?

Happy times are back for job seekers and recruiters. Hiring activity in the top industrial sectors is forging ahead strongly, said a study by job portal naukri. com. Hiring activity in India grew by four per cent in January this year compared to December, 2009, reflecting a continued momentum in recovery, it said.

"With the beginning of the new year, the employment marketplace seems to be moving in a more positive direction. The hiring momentum is expected to move up in most of the key industry sectors as compared to last year," Sumeet Singh, national head- marketing and communications, Info Edge, said.

Naukri. com said its job index at 743 at the start of 2010 indicates "renewed optimism in the environment". The index has been calculated based on job listings added to the site month on month.

According to the study, recruitment in the information technology (IT) and information technology enabled services (ITeS) sectors grew by 10 per cent and 17 per cent, respectively, in January, 2010 after the dip seen in December, 2009. However, hiring fell by five per cent in the banking sector after three successive months of upward movement.

The hiring activity in the auto and oil & gas sectors has risen by four per cent and three per cent, respectively, in January, 2010 compared to December, 2009.

All the metros saw a surge in hiring in January, 2010 compared to December, 2009. According to a year-on-year comparison of the city index, hiring activity in Delhi and Mumbai picked up even as other cities witnessed a continuous path of recovery. Similarly, year-on-year comparison of the top five industry sectoral indices show that hiring activity has started picking up in the auto and banking sectors while other sectors are also moving towards stability.

Six out of the top seven cities show a positive hiring index in January, 2010 compared to December, 2009. In fact, almost all cities saw an increase in the job index in January except Kolkata which witnessed a dip of 6.5 per cent. Hiring activity in Chennai picked up by nine per cent in January, 2010 compared to December, 2009, after dipping for two months in succession.

Delhi, Bangalore and Hyderabad witnessed growth in hiring activity by four per cent, eight per cent and seven per cent, respectively, in January, 2010.

The company said that overall, the index seems to be moving in a positive direction. A similar sentiment was echoed in its recently released Naukri Hiring Outlook Survey where 72 per cent of recruiters had said that new jobs will be created in 2010.

The positive direction in which India Inc's hiring activity has been progressing was shown in another recent study by international recruitment firm Antal International. According to this study, hiring activity has increased considerably since September last year and the current recruitment level is among of the highest globally.

Source : BT

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Wednesday, February 17, 2010

How is Salary Calculated ?



Sanjeev Sinha, ECONOMICTIMES.COM

Negotiating one’s salary successfully is a tricky thing. Simply because while the job seeker is generally interested in getting more, the job provider is usually keen on paying as less as possible. It is only for some job providers that salary is not an issue so long as the marginal contribution the employee is going to make is higher than the salary he or she takes. But how is one’s salary determined?

“Ordinary companies follow the 3,2,1 principle, which means hire three people, pay them the salary of two persons and get the work of one person. In contrast, extraordinary companies follow the 1,2,3 principle, whereby they employ one person, pay them double the salary and get the output of three persons,” says Dr C S Venkata Ratnam, director of the International Management Institute, Delhi.

According to Dr Ratnam, employees are interested in higher salary and good employers do not mind paying it so long as wage costs are lower through higher productivity or contribution that the person is willing and is able to make.

It is, however, difficult to put a price on one’s head. Similarly, it is equally difficult for one to estimate one’s own worth. A director of an IIT institute once said, “For some what I am paying is more than they deserve, for a few others, no matter how much more I pay, that is still not an adequate consideration because intrinsically they are so good.”

Thus, “while on the issue of salary, three types of equities become important. One is personal equity, i.e., what a person thinks about one’s worth. Here the expectancy theory says that a person can be unhappy not only when one gets less, but also when one gets more. For, the person may feel that if the company is paying him 10 per cent more than what he deserves, what is the guarantee that it is not paying someone 15 per cent more?” informs Dr Ratnam.

Some people also suffer by what is known as theory of relative deprivation. Here one’s happiness or otherwise is dependent on not how much one is getting, but in relation to someone else with whom one is making the comparison. Companies, therefore, try to figure out personal equity based on pay satisfaction surveys.

The second is internal equity which is about the relative worth of different jobs based on considerations of skill, effort, responsibility and working conditions or as the Hay System measures in respect of professionals, know how, responsibility and problem solving skills.

“Job evaluation is the best method to systematically determine the relative worth of jobs. Proper job evaluation will help compare a nurse’s job with that of a police constable. Also, relative worth of different jobs can often be subjective,” says Dr Ratnam.

Thus, whether a gas cutter should get more or a grass cutter depends on the nature of industry and importance of the job. In an engineering assembly industry, welding being a highly rated technical job, gas cutters get more. But in a horticulture department, a welder may get less and a gardener more.

The third is external equity which is assessed through the survey of compensation practices across firms in the same or similar industries and region. Usually the comparison is based on the types of industries where similar skills are sought after.

Determination of pay

Thus, employers use three sets of instruments -- pay satisfaction, job evaluation and compensation surveys -- to provide the basis for equity and fairness in their compensation policies and practices. But ultimately pay is determined by different employers based on their policies (being the best pay master in the industry/region, for instance) and the dynamic equilibrium between demand and supply for the skill sets concerned.

The problem from the individual concerned is that if one gets what one wants, one wonders whether one should have asked more. Therefore, “if one is in the market, one should do some home work on the most recent/current trends in the market as far as compensation is concerned and accordingly pitch for it -- neither too low, nor too high,” suggests Dr Ratnam.

“At times, the candidate is hesitant on talking about the salary expectations. There is nothing wrong in expressing your expectations but of course, it must match the industry trend. 25–30% is the typical salary expectation one has, while contemplating a job change,” says Shrikant Dikhale, VP-HR, Kansai Nerolac Paints Ltd.

However, if you have adequate skill set for a job and are also very confident that very few can match your skills, you can even ask for more.

Source ET

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from Government to Corporate

Indian Institute of Management campus in Lucknow (IIM-L), the 28-year-old is now adjusting himself to terms like “bulge bracket”, “black swan” and “boil the ocean”.

Mr Hussain used to be a scientist, part of India’s grand plans to be self-sufficient in defence technologies. During his four-year stint at the Defence Research & Development Organisation (DRDO), Mr Hussain used to split his time between the air-conditioned lab and the scorching heat of the test fields tucked away in the Thar desert in Rajasthan.

And he is not in Lucknow to build a defence shield for India’s premier B-school. Mr Hussain wants to tip his resume with a management warhead, which could come in handy in future.

“DRDO was sure exciting. But I want to explore the private sector now,” Mr Hussain says, hoping that his two-year post graduate programme in management at IIM-L will help gear up for the challenges posed by his new job. He is set to join Mahindra Satyam as a programme manager for its aerospace and defence vertical, liaisoning with domestic as well as global clients.

Mr Hussain’s is not an isolated case. He is part of an increasing number of ambitious government employees who are enrolling in IIMs as a launchpad for careers in the private sector where they are coveted, thanks to their first-hand insight on how governments work. With experience of up to 17 years, many of them in fact opt for the two-year standard MBA programmes that these institutes offer.

The departments vary, and range from government ministries to the armed forces to state-run firms and government departments, but the goals remain the same.

Their numbers have gone up in the past two years. At IIM-L, for instance, the number of such candidates has gone up to 15 this year from 5 in the previous batch while IIM Calcutta (IIM-C) has seen it increase from 10 in the past year to 14 this year.

At IIM Kozhikode (IIM-K), 21 such students will graduate from the 2010 batch as against 16 in the previous year. And not everyone is getting back to school with intentions of shifting to the private sector. While some want to reskill themselves and start their own ventures, others look for exposure to the private sector so that they can go back to their respective departments and implement those ideas. Then there are those who feel that an IIM tag will help their career regardless of where they work, even with the government.

“There is a lot of scope for defence-related research and development in the private sector and I didn’t want to miss it. An MBA from IIM seemed the best possible way to avail of such opportunities,” says Mr Hussain.

Others like Gali Sreedhar joined IIM-C after he realised the need to enhance his finance and management skills while executing crucial road projects for the ministry of road transport and highways. “The MBA will help me understand how the private sector works. This will help me execute ideas better,” says the executive engineer, who has signed a three-year bond to stick with the government, failing which he has to pay back Rs 8 lakh, equal to his two years’ salary.

Mr Hussain’s colleague at the IIM-L, Sharat Chander, says the opportunity to reskill is one of the unintended perks of being a government employee. “That’s the benefit of working with the government. Private sector employees generally don’t get this freedom. That’s why most of them opt for the year-long executive programmes,” says this former director at the I&B ministry.

Then, there are those like Deepak Arya, who was a deputy manager-electronic warfare at BEL. “I realised that if I start my own venture, an MBA from IIM would give me a broader perspective,” says Arya who is in the class of 2011 at IIM-K. He has already quit his job and plans to start his own business venture upon graduation.

Private sector players, too, appreciate a fresh pool of mid-career talent made up of Hussains and Aryas. The years spent by them understanding the processes of a government ministry and the edge acquired at the IIMs makes these people ideal picks for some firms. “If someone has spent a few years in a government job, he would have a deeper insight and wider perspective of the government’s working, besides knowledge of regulatory affairs.

In case such a person is brought on board, it helps our firm service the clients better,” says Deloitte India chief people officer Dhananjay Bansod.

Source ET

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Things to do in 2010


In 2009, your dragon boss breathed down your neck every other day; your clients sent you a dozen mails an hour and your colleagues... well, let's just say if you start talking about them you'll SCREAM.

In 2010, nothing's changed! So much for keeping your fingers crossed and hoping for new beginnings, huh?

Well, if things haven't changed around you, may be it's time you did. Here are some tips you could use to stay spirited this year.

Stick to timings

You work till 8 pm every night so you figure you can walk in at 11 am. Not cool. You may be the best at your job but if you can't adhere to office rules, you'll only get on the wrong side of your boss. Also, coming in on time means you'll be able to leave on time. So you'll have more time to spend with family and friends after work.

Lighten up

Stop being such a grouch at work. We all know you go to office to work and so does everyone else. But that doesn't mean you need to tell people to turn it down when their voices are just above a whisper or start telling on your colleagues when they spend five extra minutes on a phone call.

If you are finding it hard to gel with your colleagues, here are a few tips that might help you fit in at work.

Stop b**ching

Quit gossiping about your boss behind his back. Gossiping only makes you feel worse at the end of the day. So if you can't find something good to say about your boss, don’t say anything at all. Sure he can be a pain but if you could do better, you might have been 'boss' instead! Also, whatever it is that you b**ch, it's going to reach your bosses ears anyway. [There are enough snitches who want to get into your bosses good books!] So, refrain.

Clear the clutter

Piles of paper, tattered files and general clutter are just not conducive to work. Clear it all out and spruce up your desk a little. Bring in some funky knick-knacks and make your workspace a little colourful. Trust us; you'll feel a lot perkier at work!

For more ideas you can check out Our Office Survival Kit for 2010!

It's office property, not yours!

Your company is doing well and they are paying you peanuts (or so you think). So you can afford to rip them off a little, right? No, you can't! Stop printing unnecessary stuff and taking home stationery for your kids. It's stealing for crying out loud.

Don't faff

It's okay to surf the Internet, play a game or listen to music once in a while but not at the cost of your work. If you think that's distracting you from putting in your 100 per cent, (hate to sound preachy but) it's time to turn it off!

Also, try and keep your personal life out of the office as far as possible, except in case of an emergency, of course.

Learn something new

If you didn't get a promotion last year, the fact that you don't brown-nose your boss may not be the only reason. Have you taken on new tasks, developed a new skill, contributed to making things easier at work? Well, it's about time you did.

Take our word for it - turn over a new leaf this year and you'll definitely start seeing things around you change for the better!

Source : ET

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Sunday, February 07, 2010

What it takes to be great !


What It Takes to Be Great

Fortune on CNNMoney.com

By Geoffrey Colvin

Research now shows that the lack of natural talent is irrelevant to great success. The secret? Painful and demanding practice and hard work

What makes Tiger Woods great? What made Berkshire Hathaway (Charts) Chairman Warren Buffett the world's premier investor? We think we know: Each was a natural who came into the world with a gift for doing exactly what he ended up doing. As Buffett told Fortune not long ago, he was "wired at birth to allocate capital." It's a one-in-a-million thing. You've got it - or you don't.

Well, folks, it's not so simple. For one thing, you do not possess a natural gift for a certain job, because targeted natural gifts don't exist. (Sorry, Warren.) You are not a born CEO or investor or chess grandmaster. You will achieve greatness only through an enormous amount of hard work over many years. And not just any hard work, but work of a particular type that's demanding and painful.

Buffett, for instance, is famed for his discipline and the hours he spends studying financial statements of potential investment targets. The good news is that your lack of a natural gift is irrelevant - talent has little or nothing to do with greatness. You can make yourself into any number of things, and you can even make yourself great.

Scientific experts are producing remarkably consistent findings across a wide array of fields. Understand that talent doesn't mean intelligence, motivation or personality traits. It's an innate ability to do some specific activity especially well. British-based researchers Michael J. Howe, Jane W. Davidson and John A. Sluboda conclude in an extensive study, "The evidence we have surveyed ... does not support the [notion that] excelling is a consequence of possessing innate gifts."

To see how the researchers could reach such a conclusion, consider the problem they were trying to solve. In virtually every field of endeavor, most people learn quickly at first, then more slowly and then stop developing completely. Yet a few do improve for years and even decades, and go on to greatness.

The irresistible question - the "fundamental challenge" for researchers in this field, says the most prominent of them, professor K. Anders Ericsson of Florida State University - is, Why? How are certain people able to go on improving? The answers begin with consistent observations about great performers in many fields.

Scientists worldwide have conducted scores of studies since the 1993 publication of a landmark paper by Ericsson and two colleagues, many focusing on sports, music and chess, in which performance is relatively easy to measure and plot over time. But plenty of additional studies have also examined other fields, including business.

No substitute for hard work

The first major conclusion is that nobody is great without work. It's nice to believe that if you find the field where you're naturally gifted, you'll be great from day one, but it doesn't happen. There's no evidence of high-level performance without experience or practice.

Reinforcing that no-free-lunch finding is vast evidence that even the most accomplished people need around ten years of hard work before becoming world-class, a pattern so well established researchers call it the ten-year rule.

What about Bobby Fischer, who became a chess grandmaster at 16? Turns out the rule holds: He'd had nine years of intensive study. And as John Horn of the University of Southern California and Hiromi Masunaga of California State University observe, "The ten-year rule represents a very rough estimate, and most researchers regard it as a minimum, not an average." In many fields (music, literature) elite performers need 20 or 30 years' experience before hitting their zenith.

So greatness isn't handed to anyone; it requires a lot of hard work. Yet that isn't enough, since many people work hard for decades without approaching greatness or even getting significantly better. What's missing?

Practice makes perfect

The best people in any field are those who devote the most hours to what the researchers call "deliberate practice." It's activity that's explicitly intended to improve performance, that reaches for objectives just beyond one's level of competence, provides feedback on results and involves high levels of repetition.

For example: Simply hitting a bucket of balls is not deliberate practice, which is why most golfers don't get better. Hitting an eight-iron 300 times with a goal of leaving the ball within 20 feet of the pin 80 percent of the time, continually observing results and making appropriate adjustments, and doing that for hours every day - that's deliberate practice.

Consistency is crucial. As Ericsson notes, "Elite performers in many diverse domains have been found to practice, on the average, roughly the same amount every day, including weekends."

Evidence crosses a remarkable range of fields. In a study of 20-year-old violinists by Ericsson and colleagues, the best group (judged by conservatory teachers) averaged 10,000 hours of deliberate practice over their lives; the next-best averaged 7,500 hours; and the next, 5,000. It's the same story in surgery, insurance sales, and virtually every sport. More deliberate practice equals better performance. Tons of it equals great performance. The skeptics

Not all researchers are totally onboard with the myth-of-talent hypothesis, though their objections go to its edges rather than its center. For one thing, there are the intangibles. Two athletes might work equally hard, but what explains the ability of New England Patriots quarterback Tom Brady to perform at a higher level in the last two minutes of a game?

Researchers also note, for example, child prodigies who could speak, read or play music at an unusually early age. But on investigation those cases generally include highly involved parents. And many prodigies do not go on to greatness in their early field, while great performers include many who showed no special early aptitude.

Certainly some important traits are partly inherited, such as physical size and particular measures of intelligence, but those influence what a person doesn't do more than what he does; a five-footer will never be an NFL lineman, and a seven-footer will never be an Olympic gymnast. Even those restrictions are less severe than you'd expect: Ericsson notes, "Some international chess masters have IQs in the 90s." The more research that's done, the more solid the deliberate-practice model becomes.

Real-world examples

All this scholarly research is simply evidence for what great performers have been showing us for years. To take a handful of examples: Winston Churchill, one of the 20th century's greatest orators, practiced his speeches compulsively. Vladimir Horowitz supposedly said, "If I don't practice for a day, I know it. If I don't practice for two days, my wife knows it. If I don't practice for three days, the world knows it." He was certainly a demon practicer, but the same quote has been attributed to world-class musicians like Ignace Paderewski and Luciano Pavarotti.

Many great athletes are legendary for the brutal discipline of their practice routines. In basketball, Michael Jordan practiced intensely beyond the already punishing team practices. (Had Jordan possessed some mammoth natural gift specifically for basketball, it seems unlikely he'd have been cut from his high school team.)

In football, all-time-great receiver Jerry Rice - passed up by 15 teams because they considered him too slow - practiced so hard that other players would get sick trying to keep up.

Tiger Woods is a textbook example of what the research shows. Because his father introduced him to golf at an extremely early age - 18 months - and encouraged him to practice intensively, Woods had racked up at least 15 years of practice by the time he became the youngest-ever winner of the U.S. Amateur Championship, at age 18. Also in line with the findings, he has never stopped trying to improve, devoting many hours a day to conditioning and practice, even remaking his swing twice because that's what it took to get even better.

The business side

The evidence, scientific as well as anecdotal, seems overwhelmingly in favor of deliberate practice as the source of great performance. Just one problem: How do you practice business? Many elements of business, in fact, are directly practicable. Presenting, negotiating, delivering evaluations, deciphering financial statements - you can practice them all.

Still, they aren't the essence of great managerial performance. That requires making judgments and decisions with imperfect information in an uncertain environment, interacting with people, seeking information - can you practice those things too? You can, though not in the way you would practice a Chopin etude.

Instead, it's all about how you do what you're already doing - you create the practice in your work, which requires a few critical changes. The first is going at any task with a new goal: Instead of merely trying to get it done, you aim to get better at it.

Report writing involves finding information, analyzing it and presenting it - each an improvable skill. Chairing a board meeting requires understanding the company's strategy in the deepest way, forming a coherent view of coming market changes and setting a tone for the discussion. Anything that anyone does at work, from the most basic task to the most exalted, is an improvable skill.

Adopting a new mindset

Armed with that mindset, people go at a job in a new way. Research shows they process information more deeply and retain it longer. They want more information on what they're doing and seek other perspectives. They adopt a longer-term point of view. In the activity itself, the mindset persists. You aren't just doing the job, you're explicitly trying to get better at it in the larger sense.

Again, research shows that this difference in mental approach is vital. For example, when amateur singers take a singing lesson, they experience it as fun, a release of tension. But for professional singers, it's the opposite: They increase their concentration and focus on improving their performance during the lesson. Same activity, different mindset.

Feedback is crucial, and getting it should be no problem in business. Yet most people don't seek it; they just wait for it, half hoping it won't come. Without it, as Goldman Sachs leadership-development chief Steve Kerr says, "it's as if you're bowling through a curtain that comes down to knee level. If you don't know how successful you are, two things happen: One, you don't get any better, and two, you stop caring." In some companies, like General Electric, frequent feedback is part of the culture. If you aren't lucky enough to get that, seek it out.

Be the ball

Through the whole process, one of your goals is to build what the researchers call "mental models of your business" - pictures of how the elements fit together and influence one another. The more you work on it, the larger your mental models will become and the better your performance will grow.

Andy Grove could keep a model of a whole world-changing technology industry in his head and adapt Intel (Charts) as needed. Bill Gates, Microsoft's (Charts) founder, had the same knack: He could see at the dawn of the PC that his goal of a computer on every desk was realistic and would create an unimaginably large market. John D. Rockefeller, too, saw ahead when the world-changing new industry was oil. Napoleon was perhaps the greatest ever. He could not only hold all the elements of a vast battle in his mind but, more important, could also respond quickly when they shifted in unexpected ways.

That's a lot to focus on for the benefits of deliberate practice - and worthless without one more requirement: Do it regularly, not sporadically.

Why?

For most people, work is hard enough without pushing even harder. Those extra steps are so difficult and painful they almost never get done. That's the way it must be. If great performance were easy, it wouldn't be rare. Which leads to possibly the deepest question about greatness. While experts understand an enormous amount about the behavior that produces great performance, they understand very little about where that behavior comes from.

The authors of one study conclude, "We still do not know which factors encourage individuals to engage in deliberate practice." Or as University of Michigan business school professor Noel Tichy puts it after 30 years of working with managers, "Some people are much more motivated than others, and that's the existential question I cannot answer - why."

The critical reality is that we are not hostage to some naturally granted level of talent. We can make ourselves what we will. Strangely, that idea is not popular. People hate abandoning the notion that they would coast to fame and riches if they found their talent. But that view is tragically constraining, because when they hit life's inevitable bumps in the road, they conclude that they just aren't gifted and give up.

Maybe we can't expect most people to achieve greatness. It's just too demanding. But the striking, liberating news is that greatness isn't reserved for a preordained few. It is available to you and to everyone.

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Saturday, February 06, 2010

Substitute for hardwork


The vice-chairman and gardener of MindTree and author of three business bestsellers, Subroto Bagchi believes that no matter how privileged you are there is no substitute for hard work. Here he shares his story of success.

We were raised in the tribal districts of Orissa where I studied in government schools, until Class 11. But as compared to countless other men and women in this country, I actually feel privileged due to my upbringing.

Most children walked bare feet, some wore rubber slippers, and if anyone ever wore shoes, the other children shunned them as snobs. Only in Class 11, my father could afford to buy me a cycle.

He told me that if I promised to score more than 90 per cent marks in optional mathematics in my final examination, I could have the cycle. The deal was done, I had the bike. It was my life's first forward trade.

But the reason I said I feel a lot more privileged compared to many other similarly situated people is that I had the opportunity to be groomed by parents and elder brothers who created a sense of higher purpose in everything I did. From the time that I was a little boy, I was asked to build very large, sometimes global ambitions. I was constantly told that there is a larger world out there and if I did my English, science and mathematics right, I could have it all.

There was no time for self-pity! But sometimes, we complained. We cited examples of children who went to English medium boarding schools, of children whose parents could afford to buy them cricket bats and children who lived in big cities. My mother, herself a matriculate of the 1930s but who took as much care to hold aloft the value of education as my father, would immediately hold aloft the example of a boy, a few years senior to me, who used to come from ten miles away.

His name was Maguni Barik. He did not have a father. His illiterate, widowed mother literally had no support. Maguni Barik had one pair of school uniform. But despite all that, Maguni Barik made it to the best 10 list among all high school students in the state in his year of graduation. He was not only among the poorest students, his name in Oriya literally means, the one seeking alms!

There was no arguing against that one. We would simply shut up and go back to our books. I wonder where Maguni Barik is today. But I know that the likes of him are all around. All we need to do is look.

From ordinary upbringing, today I have the privilege of co-founding and leading MindTree, which has emerged as one of India's [ Images ] most admired companies. Here, I am not alone. People like me and more importantly, people like Maguni Barik are celebrated.

We are together stepping into a future in which what you know is more important than who you know. More than ever before, the future belongs to us. This would not have happened but for the emphasis on education at an early life and an abiding sense of vision that substituted for everything else.

Source Careers360

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Friday, January 29, 2010

Enhancing Skills


Have a break and enhance your skills

At the height of last year’s global recession, several executives chose to go back to schools — B-schools, rather — to use the situation to hone their professional skills.

For some, the sabbatical was a forced one because of job losses. But irrespective of the business cycle, taking a gap year for studies would boost your skill sets, and given the options available today, it can be achieved without straining your finances.

Here are a few points you need to bear in mind while devising such a plan.

Take Stock of your current financial position :

Weigh the pay-back

The extent of a savings cushion that you would require would depend on what you do after you finish your course. Do you plan to start out on your own or look for a job? च्In case of the former, the gestation period could be longer. Therefore, ascertain if the cost-benefit analysis झ् expenses incurred vis-ीं-vis future earnings झ् are in you favour,छ explains financial planner Prerana Salaskar-Apte.

If you are planning to pursue studies abroad, the need for this analysis becomes all the more critical.

Evaluate loan prospects

If you plan to enrol for sought-after courses like MBA or law, you may not find it difficult to obtain an education loan. However, this may not be the case if you already have an existing home loan to service.

Under such circumstances, you could look for banks that would agree to take a pro-rata or a second charge on the house as an asset. Alternatively, you could look at borrowing against gold jewellery or investments. However, remember that the repayment tenure for these short-term loans generally does not exceed 12 months.

Get a health cover

For many, a break in service also results in a break in health cover. Buying health insurance for yourself and your family during this period deserves top priority. The group health cover taken by your employer will cease to exist once you quit, which means that you need to have an independent cover in place.

Emergency fund

While a health policy will take care of any health-related emergencies, you need to set aside a corpus for any other exigencies that may arise. A contingency fund should be capable of covering your expenses for at least six months. This amount can be parked in fixed deposits or liquid funds. The corpus could also come in handy if your job prospects get affected due to adverse economic climate like the one witnessed in 2008.

Cover recurring costs

Unexpected expenses apart, you need to make provisions for regular expenses too, which might have to be borne by your family in the absence of your contribution. To avoid such a situation, you could look at arranging for paying your insurance premium or monthly rent before embarking on your study drive.

Provide for loan instalments

If you have availed of a loan, particularly a long-term one like a housing loan, it would call for a careful balancing act. Unless you are sitting on a huge surplus or have the comfort of other sources of income that could go towards the EMIs, it is better to defer your plans to study further. If you have always had definite plans to study, you should avoid taking loans.

Also, if you have dependents, it is advisable to buy term insurance or home loan cover to ensure that they are not left with a long-term liability to discharge in the event of your demise.

Ideally, you should plan a couple of years in advance before you decide to take a study break. This will ensure sufficient time to make requisite provisions by cutting back on expenses to save for outflows during the course of your studies.

Source ET
Author : Preeti Kulkarni

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Indians most confident on senior mgmt effectiveness

Friends,

Indian employees have emerged as the most confident lot in the world, when it comes to the belief in the effectiveness of companies' senior leadership teams, says a survey by global HR solutions provider Kenexa.
According to the survey, a firm's senior leadership team has a significant impact on its employees' overall opinions of the company and engagement levels.

Employees in India reported the highest rating of 69 per cent for "leadership effectiveness", followed by Brazil (59 per cent), the United States (54 per cent), China (53 per cent) and Canada (52 per cent), the report revealed.

"Employees in India view their senior leadership team as effective, if it quickly responds to marketplace opportunities and competitive threats, keeps employees well informed about organisational issues, strives to serve interests of multiple stakeholders," the report stated. Meanwhile, workers in Japan reported the lowest ratings (33 per cent), it added.

Moreover, employees with positive opinions of their leadership team state a much higher intention to stay with the organisation versus those who are dissatisfied.

"Those teams that demonstrate a strong emphasis on gaining employees' confidence through their decisions & actions and have ability to deal with the firm's challenges are those that will build more engaged workforces and outperform competitors," Kenexa Research Institute executive director Jack Wiley said.

Source : ET

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Thursday, November 12, 2009

Facebook wastes employees time ? Do you agree ??

A new study proves (as if we needed it) that many employees spend a chunk of the work day on Facebook. But does that mean you should do anything about it?

On average, employees spend about 1.5% of their working hours updating, friending, messaging, etc., according to a new survey of office workers by Nucleus Research.

Some of the other findings, which may or may not come as much of a surprise:

* Nearly two-thirds of employed Facebook users go on the site during work
* Of that number, employees spend an average of 15 minutes a day on Facebook, and
* 87% of those who use Facebook at work can’t articulate a clear business reason for doing it.

Does this mean it’s time to cut off access to social networking sites once and for all? The folks at Nucleus recommend companies consider it, suggesting it could result in a 1.5% productivity gain.

Source : hrmorning.com
Author : Sam Narisi
Link : http://tinyurl.com/facebook-time-waste

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