You can find the list here: Indian HR Blogs
If you know of any more Indian HR Blogs and bloggers who need to be on that list - post a comment here or there - or send me a mail
I am an advocate for social media marketing and personal branding which I believe can help to benefit both your company and your career. And so I am often asked why I tweet, why I blog and why I participate in both online and offline social communities and events.Despite the huge press coverage around social media, I am still surprised at how many marketers and other market-facing professionals resist the call to participate in social media and to be brand ambassadors. To me, social media is all about personal branding. Grow your personal brand, with respect and proper attribution to your company as an ambassador, and the company benefits through the greater exposure of a positive voice out to the market it serves.
As a marketer, I feel compelled to participate as an individual voice in my company ecosystem. Companies are a collection of individuals with all the diversity that is inherent in its employees. A company brand is directly impacted by the voice of its employees, along with customers, partners and the larger community and ecosystem in which it participates. I actively and passionately participate in social media conversations with authenticity and I do it because I want to. But I also believe success in building my personal brand is direct evidence of my abilities to execute an overall marketing strategy for the company – in essence to build the company brand.
Lockheed Martin has launched a new open-source project for enterprise social networking called Eureka Streams.
The Eureka Streams technology, which looks and behaves much like existing commercial social networking software, is aimed at helping what Lockheed Martin refers to as knowledge workers make informed decisions by finding relevant colleagues and groups, following their streams of activity, and engaging in conversation.
Lockheed Martin is making the technology available to developers and inviting their feedback on Eureka Streams. Developers can learn more about the technology at www.eurekastreams.org.
Eureka Streams represents a new communication experience for knowledge workers, empowering them to pick and choose the channels of news, information and conversation that add the most value to their day-to-day work, Lockheed Martin officials said.
Lockheed Martin has released Eureka Streams as an open-source project—the Eureka Streams Community Edition is licensed to developers under the Apache 2.0 open-source license. However, in the future, Lockheed Martin plans to offer editions of Eureka Streams for use by enterprise customers, the company said in its release.
According to an independent Forrester Research report titled "Harnessing Social Networking to Drive Transformation" dated November 2009, "Smart organizations are looking to tap into the full power of the enterprise and beyond to drive better and faster decisions and to foster innovation that will keep them at the forefront of the changing economy. One approach that's top of mind for business technology leaders is the use of social networks to drive communities that span traditional organizational structures."
A Sloan Consortium study cites barriers to the widespread adoption of online distance learning. Topping the list is the concern that "students need more discipline to succeed in online courses"-64 percent of all institutions see it as a significant hurdle. The number-two concern is the extra time and effort that online faculty spend; 32 percent of schools think this is a problem.
Other disadvantages include lack of face-to-face feedback and in-person activities with peers, and loneliness, according to DETC's Lambert, who also said, "The few drawbacks are more than offset by the convenience features."
Experts say benefits of online distance learning include savings on time and money-no commuting, gas money or parking fees are required. And some students just function better online.
"Online there's anonymity, you can interact and participate, and you can be whoever you want to be. For some people it's a more comfortable environment for them to study in," said Walden's Sidler.
Another plus is the increased earning power an MBA brings. According to 2007 statistics from the Graduate Management Admission Council, a nonprofit group that owns the GMAT, MBA graduates who have gotten job offers typically earn 58 percent more than before they got their degrees.
Thanks to the Social Media Revolution taking place, many organizations are starting to see clear value and benefit to becoming more open and less formal in their approach to engagement. For leaders within these organizations, championing such out-of-the-box thinking has not been an easy task due to the lack of discrete measures against success. Before receiving the necessary executive level buy-in to invest both time and money to operate within these online channels, demonstration of tangible bottom-line benefits were required. Today, social media ROI success stories and case studies are plentiful and provide compelling evidence for organizations to embrace openness and recognize the importance in promoting, developing and retaining the very best social leaders. Fueled by collapsing boundaries, increased competitiveness and demanding customers, social leaders have an uncanny ability to capture real-time market realties while effortlessly extracting hidden value from crowds using multiple online communication channels and common social media tools (such as blogs, Twitter, Facebook, etc).
A summary of these benefits included:
* clearer and more consistent corporate visions and strategies
* access to unexpected knowledge capital outside of the formal organizational structure
* increased stakeholder ownership and accountability
* improved corporate social responsibility.
When I began this research, Facebook was frowned upon as a waste of time, LinkedIn was solely thought of as a recruitment tool and the notion of a twittering CEO would have been laughed at. How the times have changed. No one has done it better than Tony Hsieh, CEO of Zappos.com who has amassed a Twitter following of 1.7 million users by transforming his organization into a well-oiled customer service machine that delivers happiness to employees and customers 24 hours a day, 365 days a year. Using social media, Tony publicly shares the core values of his company as well as his leadership philosophies that have grown Zappos to $1 billion in gross revenue in just 10 short years. He is an exemplary social leader who models a culture of trust, love and respect for his devoted employees so that they can in turn apply the same principles for the betterment of the organization and the customers they ultimately serve.
And then there is Martha Stewart with her nearly two million Twitter followers and an official blog that has aided her in repairing her public image by extending her iconic brand deep into cyberspace. A relatively newcomer is the always charismatic Richard Branson, Chairman of the Virgin Group, who has over 400,ooo Twitter followers who tune-in daily for a dose of all things Virgin. Richard routinely tweets about the places he goes, the interesting people he meets and even drops hints about future promotions and new products and services scheduled to launch under the Virgin brand. Other present and past CEOs that have become strong social leaders worth following include: George Colony, CEO of Forrester Research, Nancy Lublin, CEO of DoSomething.org, Peter Aceto, CEO of ING Direct Canada, Bill Gates, Former CEO of Microsoft and Jack Welch, Former Chairman and CEO of General Electric.
It is a mindless exercise in inanity. Getting into social networking sites, feeding the ever hungry digital blank that asks you “What's on your mind”, “What are you doing.” You feed it and it asks for more and more, finally you feed it something to your eternal regret. As information from Facebook, Twitter, Orkut and blogs swamp our collective lives, it is proving to be a treasure trove of information for recruiters, hirers and online job search companies.
The crescendo of information has reached such a state that recruiters are weeding out potential hires on the basis of the information, just as employees are being weeded out based on their social networking updates. Apocryphal stories are aplenty. “We had this person who was just out of college who would call up and say he is ill, but by afternoon there would be status updates about how the lunch with the friends was and by afternoon how good he was at network gaming. He would post his top scores to cheers and jeers by his friends,” says an HR person at one of the big five IT companies.
It is not that young people are unaware of the changing scene. “It is really difficult to create a profile that is not so – you. Every bit of the profile has to be you, right from the information that you keep updating, to the photos, to the friends, to the groups you like. You cannot hide information and you cannot be not doing what young people are doing,” says Divya, who works in the media.
The range of creativity is not limited to the civic-ly valuable actions. But even if we take Lolcats and we stipulate, as the lawyers say, that this is the stupidest possible creative act… the stupidest possible creative act is still a creative act.
Doing something is different than doing nothing.
Best-in-Class companies are 26% more likely than all other organizations to use mobile tools to facilitate HCM processes and workflows
Best-in-Class companies 65% of employees at companies using mobility tools for HCM rated themselves as "highly engaged" - versus 57% at organizations without mobile HCM
Best-in-Class companies 45% of employees at companies using mobility tools for HCM received ratings of "exceeds expectations" on their last performance review - versus 37% at organizations without mobile HCM
Prediction 1| Augmented reality learning emerges
So what could be the implications for social learning? Simulations and games could take on a whole new level of interactivity, technical training could be done virtually without expensive labs, and management conferences could become networking events designed around finding knowledge content built on a pre-event profile, just to name a few. Even in prototype, SixthSense is less than $350, so in the near future, the device could be a highly affordable supplement in the learning environment.
Prediction 2| Most learning incorporates use of a mobile device
With increased capabilities of real time search on all mobile devices, learning will truly be just in time. Ask a question, get an answer. Our world will turn into three-minute learning vignettes. When you incorporate GPS sensitivity into a learning environment, many possibilities emerge.
Similar to the GPS-sensitive program FourSquare, we could design check-in points for new hires to get to know their company and its history. Or with programs such as Serendipity (under development at MIT), set our social networking profile to alert us whenever we're near an expert in the topic of our choice. Perhaps the future role of learning is to find, organize, and enable the experts?
Prediction 3| Games and simulations are used for every content area
The Millennial generation, which will comprise the majority of the workforce in just a few years, grew up on GameBoys, World of Warcraft, and EVE Online. IBM has already studied whether participation in massively multi-player online role-playing games (MMORPGs) develops leadership skills. They found that having to recruit a guild, fulfill a series of tasks, motivate, and retain a guild led to the development of leadership skills. MMORPGs can be nonviolent, virtual-world–building games as well, with experiments in teaching math and science already under way.
A management simulation provides the ability for what Michael Schrage has called "serious play"—an opportunity to innovate, take risks, and practice in a safe environment.
But games and simulations aren't just for management. New-hire games can be used even in advance of hiring to allow players to become familiar with a company's products and services. Collaboration is increasingly important at most companies, and games could take a key role in teaching collaboration skills.
Prediction 4| We will have a huge app-etite
In the words of Apple's marketing department, "there's an app for that." In the case of applications for iPhone and iPod touch, more than 130,000 have been developed to date. Morgan Stanley predicts 500,000 new applications before the end of 2010. Since people are already accustomed to the convenience and functionality of apps, a whole new breed of apps for corporate environments will emerge. Corporate HR and learning functions will get into the business of custom app development. Possible apps include
* acronym lookup
* product description and specs apps
* benefits chooser
* campus and conference room map
* room scheduler
* retirement planner
* expert locator
* virtual profile (replacing the company phone directory)
* cafeteria menus and reviews
* virtual manager.
With just a little work, you could probably brainstorm another 10 apps in the next 10 minutes. Nearly anything that is in print now can be converted into a rich, constantly updated application.
Prediction 5| Peer-to-peer learning blossoms
When people attend conferences or workshops, it's not unusual to read in the evaluations that one of the most beneficial aspects of the event was the ability to network and learn from peers. Through technology, that peer-to-peer learning has now taken on a whole new level of meaning. While baby boomer managers fret that time spent on Facebook is a time waster, Millennials can't imagine getting their work done without relying on the tribe they've collected through their online social networks.
To mediate an organization's concerns for security while balancing the need to allow people to connect, expect to see a proliferation of platforms aimed at Facebook-type applications in the organization. Furthermore, expect some of these platforms to be specifically developed in the learning field and incorporated or integrated with the LMS. Learning functions will be able to determine which content is most in demand by perusing the most popular and most viewed content, and then assembling content developed by contributors into formal learning courses.
At this point, knowledge management and training become such a seamless continuum that it becomes fruitless to try and separate them functionally. Anticipate that learning functions will become the new and improved knowledge management owners as well.
Prediction 6| Expert and credibility ratings create trusted search networks
In a study at the University of California at Berkeley, it was estimated that knowledge is doubling every 18 months. Combine that with the time it takes to become an expert, which is usually estimated at 10,000 hours of practice, or roughly 10 years. No sooner do you become an expert than your knowledge is outdated.
Now consider how you spend your days and how you learn about something quickly. For example, maybe you'd never heard the term "MMPORG" before. If you're like most people, you would be unlikely to look up a training course on MMPORG as your first stop. Instead, you go to your favorite online search engine and type in the term. The problem is that there is so much information available, you might not know which definition to trust.
As search evolves, we will be able to identify industry experts and friends whom we trust, and our search results will include in the algorithm of results those sites and resources that our trusted sources have indicated as solid content. For example, you might add Tony Bingham, the president and CEO of ASTD, as a trusted source. If Tony had endorsed a definition of MMPORG, then that definition would rise to the top of your search results. Your tribe of trusted sources will become the way for you to navigate through the proliferating mass of online information.
Prediction 7| Search bots go on the prowl for you
It's one thing to know what term or question to type into a search engine, and it's another thing entirely to know the terms you should use or the questions you should be asking. As Will Rogers once said, "It's not what you know that hurts you, it's what you know that ain't so." In other words, with all the knowledge available, it's what is out there that you don't know about that can hurt you.
Now imagine that you've completed a search profile that says you are in sales training, in a major pharmaceutical company based in New Jersey. You'd like to know about the top developments in healthcare reform, any news alerts for the major suppliers you rely on, important news feeds on products and executives in your company, and a search through any publication in the world relevant to training for pharmaceutical sales reps.
Your bot will be at your service, culling the data on the web and delivering it to your doorstep every morning. Like any good pet, it will get better with feedback and training, so you will teach it to become more accurate by indicating that you like some bits of content and not others. Your own personal information robotic concierge, at your service soon!
Prediction 8| Governments will become more involved in ensuring that its citizens have access to training and retraining
With advances in human longevity, the economic setbacks many people experienced during the last few years, and a backlash against an unfettered corporate focus on profit, governments are starting to see that the strain put on their purses due to unemployment and underemployment is out of balance. In Korea for example, the government not only provides tax benefits for training investment, but also provides co-investment dollars.
Expect to see governments provide more incentives for retraining workers. These incentives could include anything from tax incentives to authorizing personal accounts, much like 401(k) retirement savings plans in the United States. Sometimes called "Lifelong Learning Accounts (LiLAs)," California, Indiana, Iowa, Illinois, Washington, and other U.S. states have introduced legislation to provide tax credits and breaks for investment in training.
Imagine a day when the learning function is not only getting funds from the corporate budgets, but individuals can elect to attend classes using their LiLA account money. Will that change the way learning functions think about the offerings they have available, and will it drive even more cooperation with universities to provide focused, relevant curriculum?
Prediction 9| The learning function's focus shifts to accreditation, with less emphasis on the learning process itself
As the amount of knowledge required to perform the job moves more and more to instant access, it will become less and less likely that people will prove their credentials by having an internal corporate training completion on their personnel records. Instead, learning functions will set the standards of performance required to achieve accreditation, install systems for enabling achievement of that accreditation, and track completion.
Prediction 10| You will be rated publicly, much like a Yelp or Amazon rating for people
Yelp is a popular social networking and review site where users rate and comment on local restaurants. The Millennial generation is accustomed to relying on user input on sites such as rateyourprofessor.com to steer everything from where to have fish tacos to which professors to avoid at college. Few people order from Amazon without looking at the cumulative rating stars of past purchasers. Sites such as glassdoor.com already provide insights regarding the culture, pay, and management quality. It is not a big leap to assume that eventually, managers will be publicly rated, followed by everyone being rated.
Will it change a manager's behavior if he knows that his tendency toward berating employees will show up in a public review the next day? Will the manager who chronically micromanages begin to adjust her behavior if multiple reviewers have commented on the same thing? It is one thing to go into the quiet of your office to review a private 360-degree report and quite another to have your children reading about your work behaviors.
This may be one of the scariest predictions so far, as you wonder about the fairness of disgruntled employees commenting publicly. On Yelp, the establishment owners are allowed to provide a rebuttal on comments, so this could be a feature of how a public people review system would work. But do anticipate that privacy has taken a whole new turn and will continue to do so as we progress.
Learning's future: champion or outcast?
One of the main reasons we like to think about the future is because we hope the learning and development field will be the first to step up to take ownership of many of the ideas we have presented here. We've been in learning functions where people have said they think social networking is a fad and micro-blogging is a waste of time. We beg to differ, and believe that the next generation of work coming into organizations will demand being able to work in ways they've already found to enable success. If the learning function does not step up to the task, some other department in the organization will, and a learning function will become irrelevant.
On the other hand, if the learning function has a vision for the future, and works patiently to inspire organizations to move into a new way of work and learning, the relevance and core criticality for business success could be unprecedented in our field's history.
Which will we choose?
Picking the right metrics is the key to creating real value from training. Most for-profit organizations have a longer list of quantitative business-performance metrics than BGCA does. A retailer pursuing better customer service and sales growth, for example, could train employees by getting its managers to provide real-time coaching and to role-model best-practice customer-engagement techniques. Rather than just measuring the managers’ time allocation or employee-engagement data—as most would do now—the retailer should measure the impact of its programs through hard business metrics, such as sales, basket sizes, and conversion rates in critical categories or departments. Similarly, a manufacturer might try to improve its operations by teaching plant supervisors lean-manufacturing and coaching skills, but rather than tracking only how many managers have been trained, it should track metrics such as downtime, the overall effectiveness of equipment, or fill rates.
In every case, companies must continually review and revise the links between skills, performance, and training programs. Typically, to determine which metrics should be improved, companies assess their current performance against industry benchmarks or their own goals. Like retailers and manufacturers, most other companies know what kinds of skills are tied to different areas of performance. So a good next step is to conduct an analysis of the relevant groups of employees to identify the most important specific skills for them (as BGCA did) and which performance-enhancing skills they currently lack. To get a clear read on the impact of a program, it’s crucial to control for the influence of external factors (for instance, the opening of new retail competitors in local markets) and of extraordinary internal factors (such as a scheduled plant shutdown for preventative maintenance). It’s also crucial to make appropriate comparisons within peer groups defined by preexisting performance bands or market types.
1. Job hoppers have more intellectually rewarding careers.
If you change jobs often, then you’re always challenged with a lot to learn — your learning curve stays high. This is true for office skills, and industry specific knowledge. It also applies to your emotional intelligence. The more you have to navigate corporate hierarchies and deal with office dramas, the more you learn about people and the better you will become at making people comfortable at work. And that’s a great skill to have.
2. Job hoppers have more stable careers.
The way you do that is through networking. Because you can be sure you’ll need to find many jobs in your lifetime, you want network as efficiently as you can. After all, the most efficient way to find a job is through a network. It’s how most people land jobs. People who work for lots of companies have a larger network than people who stay in one place for long periods of time. Which is why job-hopping creates stability.
3. Job hoppers are higher performers.
You can’t job hop if don’t add value each place you go. That’s why job hoppers are usually overachievers on projects they are involved in; they want something good to put on their resume. So from employers’ perspective, this is a good thing. Companies benefit more from having a strong performer for 18 months than a mediocre employee for 20 years. (And don’t tell me people can’t get up to speed fast enough to contribute. Fix that. It’s an outdated model and won’t attract good employees.)
4. Job hoppers are more loyal.
Loyalty is caring about the people you’re with, right? Job hoppers are generally great team players because that’s all they have. Job hoppers don’t identify with a company’s long-term performance, they identify with their work group’s short-term performance.
5. Job hoppers are more emotionally mature.
It takes a good deal of self-knowledge to know what you want to do next, and to choose to go get it rather than stay someplace that for the moment seems safe. It takes commitment to personal growth to give up career complacency and embrace a challenging learning curve throughout your career — over and over. And it’s a brave person who can tell someone, “I know I’ve only been working here for a month, but it’s not right for me, so I’m leaving.”
In America today, there are almost as many people making their living as bloggers as there are lawyers. Already more Americans are making their primary income from posting their opinions than Americans working as computer programmers or firefighters.
Paid bloggers fit just about every definition of a microtrend: Their ranks have grown dramatically over the years, blogging is an important social and cultural movement that people care passionately about, and the number of people doing it for at least some income is approaching 1% of American adults.
The best studies we can find say we are a nation of over 20 million bloggers, with 1.7 million profiting from the work, and 452,000 of those using blogging as their primary source of income. That's almost 2 million Americans getting paid by the word, the post, or the click -- whether on their site or someone else's. And that's nearly half a million of whom it can be said, as Bob Dylan did of Hurricane Carter: "It's my work he'd say, I do it for pay."
Leaders who connect to mentees in an enterprise 2.0 network can stay in touch with them more easily, understand their strengths and offer them more opportunities. They can mentor on an ambient level, openly broadcasting their ideas, knowledge and help for mentees or anyone to consider, by sharing their thoughts on micro-blog systems, and they can receive feedback the same way.
There is no free lunch. Mentees may take to Facebook easily but still find social networking awkward at work. In surveys and interviews of interns and new hires, I have frequently heard that they don't see the value of that kind of connection in the workplace. But the reasons why lie less with them than with organizational culture.
When you're new to an organization, your relationship networks are usually limited and have little built-in trust. Millennials who converse freely with their friends socially are often told at work to stay strictly work-focused. This can limit the depth of their conversations and keep them from developing trust and extensive networks.
Amy talks about how five principles of game mechanics (collecting, points, feedback, exchanges and customization) can be combined with three trends of social media (accessibility, recombination, syndication) to design fun yet functional software applications.
Here are the five game design principles Amy talks about –
- Collecting: Players love to collect artifacts and complete sets.
- Points: Players love to be rewarded with points from the game itself or from other users. Points can be used for leveling up, for creating leaderboards, or for redemption for gifts.
- Feedback: Players love to get feedback from the game itself or from other users. Feedback can be about how they are doing against others, or even against themselves over time.
- Exchanges: Players love to engage in exchanges with other players. Exchanges can take the form of explicit trading or implicit gifting.
- Customization: Players love to customize their character or profile, and also their interface or dashboard.
Here are the three social media trends Amy talks about –
- Accessible: Social applications are becoming more accessible because of simpler user interfaces, but also across devices, often enabled by open APIs.
- Recombinant: The data from social applications can be combined into different types of activity streams.
- Syndicated: The data from social applications can be exported and showcased elsewhere using RSS feeds and widgets.
I specially like Amy’s distinction between game-generated points and feedback and social or human-generated points and feedback, which reminded me of Chris Dixon‘s (@cdixon) post on single-player and multi-player modes in applications.
First, Reframers dare to question well-ingrained business truisms and industry paradigms. As they experiment with radically new business concepts, Reframers constantly ask themselves "why not?" For instance, Tata shattered the century-old car manufacturing paradigm: rather than completely producing the Nanos in its own factories, Tata Motors will distribute component kits that entrepreneurial small businesses can assemble close to customers. By questioning the conventional wisdom, creative leaders like Ratan Tata help their organizations navigate an increasingly complex business environment that places a premium on leaders with a flexible mindset.
Second, Reframers think not only with their minds but also with their hearts. After all, the heart of change begins with the change of heart; as Mahatma Gandhi eloquently put it: "Be the change you want to see in the world." As such, Reframers are erecting what we call a mental (and heart) barrier to entry for competitors. For example, you can bet that leaders at major food and beverage companies are busily hatching new business models to compete with PepsiCo's wellness strategy. But these rival business models won't be sustainable unless the leaders who developed them sincerely care about the wellness of consumers. In the dawning Web 2.0 world where authenticity is the new source of competitive advantage, a heartfelt business model transformation will be more readily accepted and handsomely rewarded by consumers than a disingenuous me-too competitive offering.
Third, Reframers catalyze massive social innovation. To borrow from chaos theory, the change in the minds and hearts of Reframers is akin to the butterfly flapping its wings over Hong Kong that can unleash a tornado in Texas. Even a minor reframing can yield a disruptive business model that can revolutionize not only an industry but entire societies — a massive chain reaction captured in the following formula:
Mental model innovation → business model innovation → industry innovation → social innovation
An avid blogger, a twitter-addict, with 1000 friends on Orkut and an enviable fan following on Facebook, Gautam is a social media and network junkie. But when asked how he’d like to categorize himself, Gautam Ghosh says, “my foremost identity is as an HR professional.” Those who know Gautam describe him as the “Face of HR blogging” in India as well as the global community. This young man has successfully connected the dots between HR, learning and social media. He believes that “learning happens by doing and sharing!”
Gautam has rich experience in the corporate world through his journey as an HR professional in organizations like DELL, Deloitte, HP, Satyam, as an independent OD and Training consultant as well as a consultant with 2020 Social. “I see everything kind of fitting into a larger umbrella of saying how do we make a more human organization,” he explains. By ‘human’ he refers to an organization that is open and transparent. Gautam believes that all his L&D work, HR professional work, HR journalist work, and his social media work belongs to the larger umbrella of building an organization that is more open, transparent and human. “While it wasn’t really obvious when I started off the journey but now when I look back, that’s one thread that has continued throughout the journey,” he adds thoughtfully.
I believe that the internal conversations about the company is what guides this image – the dialogue employees have with one another – the vocabulary people use when discussing internal issues.
Focus on the stories people tell internally about your company. Think what needs to be done to “change” the stories to your company’s advantage.
Aon plans to integrate Hewitt with its existing consulting and outsourcing operations and sees annual revenue of $4.3 billion for the combined entity, which will be named Aon Hewitt.
Russ Fradin, chairman and chief executive officer of Hewitt, will head Aon Hewitt.
Aon expects the deal to add to 2011 and 2012 earnings and generate about $355 million in annual cost savings in 2013, primarily from reduction in back-office areas.
The Aon-Hewitt deal is the second major deal in the consultancy space in a year after Towers Perrin and Watson Wyatt agreed to a $3.5 billion merger to create the world's largest HR consultants.
The insurance brokerage expects to finance the deal through a $1.5 billion bridge facility and $1 billion bank term loan.
Aon Global Insurance Brokers Pvt Ltd. (Aon Global) is a joint venture between Mr. Prabodh B. Thakker of Global Insurance Services and Aon Corporation. Aon Global is the leading insurance intermediary in the Indian market.
Aon Global is a Composite Broker licensed by the Insurance Regulatory and Development Authority. As a Composite Broker, Aon Global is permitted to offer both reinsurance and corporate (domestic) broking solutions to its clients. Aon Global combines international expertise and local knowledge to provide value added, professional, cutting edge risk management and insurance solutions to its clients. The company is the leading broker for placement of facultative risks in the aviation and energy sectors.
Aon Global became operational on March 3, 2003. The company is headquartered in Mumbai, has offices in Delhi, Chennai, Bangalore and Pune. The company has 80 staff members on its rolls, 60 of whom are insurance professionals having the requisite qualifications and experience to meet client needs.
The basis of open-book management is that the information received by employees should not only help them do their jobs effectively, but help them understand how the company is doing as a whole (Kidwell & Scherer, 2001). According to Case, "a company performs best when its people see themselves as partners in the business rather than as hired hands" (Case,1998 as cited in Pascarella, 1998). The technique is to give employees all relevant financial information about the company so they can make better decisions as workers. This information includes, but is not limited to, revenue, profit, cost of goods, cash flow and expenses.
Stack and Case conceptualize open-book principles in similar ways.
Stack uses three basic principles in his management practice called, The Great Game of Business
His basic rules for open-book management are:
* Know and teach the rules: every employee should be given the measures of business success and taught to understand them
* Follow the Action & Keep Score: Every employee should be expected and enabled to use their knowledge to improve performance
* Provide a Stake in the Outcome: Every employee should have a direct stake in the company's success-and in the risk of failure.
(1992).
Similarly, in 1995, Case made sense of open-book with three main points:
* The company should share finances as well as critical data with all employees
* Employers are challenged to move the numbers in a direction that improves the company
* Employees share in company prosperity
In a company fully employing Open-Book Management employees at all levels are very knowledgeable about how their job fits into the financial plan for the company. However taking a company from "normal" to open is not as easy as just sharing financial statements with employees. The true success of open-book management is when companies allow numbers come bottom-up (as opposed to traditional top-down management)(Johnson, 1992 as cited in Aggarwal & Simkins, 2001). While employees need to be trained to understand income statements and balance sheets; open-book's true triumphs are when employees understand the numbers to a level that they are able to report predictions to upper-management (Stack, 1992). In order to motivate employees to strive for change, Open-Book Management focuses on a "Critical Number". The number is different for every company but it is a number that represents a prime indicator of profitability or break-even point. Discovering this Critical Number is a key component of creating an open-book company.
Don't get me wrong: Reviewing performance is good; it should happen every day. But employees need evaluations they can believe, not the fraudulent ones they receive. They need evaluations that are dictated by need, not a date on the calendar. They need evaluations that make them strive to improve, not pretend they are perfect.
In fact, if firms did nothing else but just kill off this process they'd immediately be better off. When it comes to performance reviews, there's no question that nothing is better than something. That's how bad they are. The mission of this book is to put corporate executives on notice that they have created a monster. With the help of performance reviews, they've built a corporate culture where bullshit, not straight talk, is the communication etiquette of choice. The result is a managerial mess that they better deal with, and fast.
social recruiting is beginning to eclipse traditional channels for sourcing candidates, such as job boards and third-party recruiters and search firms.
If you're looking for a job and not active on LinkedIn, Facebook or Twitter (the three social networking websites most popular with employers, according to the survey), here are four reasons to join these sites and actively manage your profiles.
1. You'll have access to job opportunities at progressive, growing companies.
Companies that are hiring the most people in the shortest periods of time "are the ones who are more aggressively pursuing social recruiting," says Dan Finnigan, Jobvite's CEO. "Companies with the most growth opportunities are trying to get better, higher-quality candidates through social recruiting."
2. You'll have access to job opportunities first.
The Jobvite survey results show that employers prefer using social networking sites for recruiting because they make advertising jobs and sourcing candidates cheap and easy. Tweeting a position they need to fill, for example, doesn't cost a dime. For that reason, online social networks are among the first places employers advertise jobs.
3. Employers are increasingly using LinkedIn, Facebook and Twitter to find and vet prospective employees.
According to Jobvite's social recruiting survey:
* 73 percent of respondents currently use online social networks or social media sites to support their recruiting efforts.
* 92 percent of respondents hiring in 2010 currently use or plan to recruit via social networks.
* 78 percent of respondents use LinkedIn for recruiting; 55 percent use Facebook (up 15 percent since over 2009); and 45 percent use Twitter (up 32 percent over 2009).
* One-third of respondents always check out candidates' social media profiles when vetting them.
* 58 percent of respondents have successfully hired candidates through social networking websites.
4. You may not find as many job ads on job boards or job opportunities through recruiters.
Some employers are shifting their recruiting activity away from traditional channels, such as job boards and third-party recruiters and search firms, as they deepen their engagement with social recruiting. Jobvite found that 36 percent of survey respondents say they plan to spend less money on job boards as the economy recovers. Slightly more (38 percent) will spend less on third-party recruiters and search firms as the recovery continues.
Among the nine leadership traits CEOs and students could choose from, students placed a higher emphasis on only two leadership qualities - global thinking and a focus on sustainability. Students were 46 percent more likely than CEOs to view global thinking as a top leadership quality. And they were 35 percent more likely to include sustainability in the top three."
Beliefs about globalization and sustainability were even more defining. We found students were much more concerned with these issues than CEOs, and most importantly, saw them as inherently connected."
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Based on their comments, it was clear that students view globalization and sustainability as intertwined themes. They believe that a global citizen has responsibilities to others in the world, and that an emphasis on sustainability makes one better appreciate the impact of globalization.
"Students' views were stronger than CEOs on every one of the ten questions relating to these topics, and, as their comments made clear, called for bold and immediate action. They spoke about a new relationship among societies and business, economies and governments, and the need for a new definition of 'value' on what they see as a shared planet."
When asked for the top three factors that will impact organizations, 23 percent of CEOs mentioned globalization and 21 percent environmental issues, ranking them number 6 and 7 among their top issues.
For students, globalization was the highest ranked issue, voted on by 55 percent. Environmental issues were voted on by 42 percent of students and ranked fourth.
Solutions are not easy. Yes, recognition and incentive programs work, but too often such programs address symptoms rather than the root causes of worker dissatisfaction. They serve as proverbial Band-Aids for deep-seated malaise. If work has little meaning, incentivized solutions are ends unto themselves, not means to an end: a more fulfilling workplace. Making work meaningful is no simple matter and frankly is beyond the responsibility of most managers. After all, businesses hire managers to get the work done, not make work enjoyable.
Finding purpose in work is an individual pursuit, but in my experience I have found good examples of how managers do create higher levels of buy-in and thereby do make the work experience more tolerable. Here are some suggestions.
Address the situation. The worst thing managers who suspect worker dissatisfaction can do is to ignore it, although that is the time-honored tradition. Avoiding the topic does not make it go way. Find ways to raise the issue at staff meetings. The blunt approach—"So what's wrong?"—may not work. People will likely clam up. But if you are clever and talk about the issue and perhaps voice your own dissatisfaction with the situation, you may have better luck. Make it safe for employees to talk about workplace dissatisfiers. Often they are simple things: input into scheduling, flexibility in work hours, or even something employees can make happen themselves, such as cleaner break rooms.
Encourage alternatives. Find ways you can improve the situations. Take the lead in addressing employee complaints. Over the longer term, the best way is to let workers figure things out for themselves. Challenge employees to come up with ideas for making improvements, either in job design or in job process. Look for ways to remove the drudge factor in favor of the value add. Replace make-work projects with make-it-work projects.
Show outcomes. Relate what your team does to what the company does. Say you work in purchasing: Find ways to link your striving for best-value, best-cost suppliers with improved-quality products. Make the link between improved quality and customer satisfaction. Such things would not have happened if purchasing had not done its job. Some companies introduce employees to customers when possible. Then employees see their products or services in use. That's a great way to encourage meaning in the workplace.
Putting meaning into work is not a managerial responsibility; it falls to the employee to find work that matters to him or herself. And when employees sign on to do a job, they have a responsibility to perform it. Yes, in times of scarcity, as we are enduring now, compensation may be less competitive and opportunities for advancement less available, but workers must do the jobs employers pay them to do. Obvious, yes, but as studies show, many employees remain disgruntled.
Simply acknowledging trouble in the workplace is a good first step. It creates an atmosphere of honesty. There is always a risk that people will reveal too much dissatisfaction, but when the manager makes it safe to offer up concerns and provides avenues of redress, workers can feel they are part of a solution rather than part of a problem. And maybe that's all that can happen in the short term. If so, acknowledge it and make the best of it. There are far too many people out of work who would readily switch places with you or your employees.