Human Capital, often referred to as "employees" are a significant part of all organizations today. In the near future Human Capital will be the MOST essential asset for an organization to attract and retain.
As more and more manufacturing moves away from Ontario it will accelerate our local markets to emerge from the "Industrial Age" into the "Knowledge Economy." As this transition happens companies will become conscious a large amount of their company value resides in the heads of their employees instead of in the tangible assets of the company. This realization was made very clear in a Business Week article that showed the valuation of Microsoft was superior to GM + Ford + Boeing + Lockheed-Martin + Deere + Caterpillar + USX + Weyerhauser + Union Pacific + Kodak + Sears + Marriott + Safeway + Kellogg. Yet, the only value at Microsoft resides in the heads of its employees!
The best talent isn't currently looking for a new opportunity. They are diligently working with their heads down for other market leaders.
Scouting will be the only way organizations will be able to access this talent.
Tuesday, December 29, 2009
Thursday, December 10, 2009
To lie or not to lie
A caller on a local talk radio show was asking, “I have a friend who went to University and left two credits short of a degree. Should he claim he has a degree on his resume?”
The real question being asked here is: “Should I lie on my resume?”
The answer is unequivocal: No way!
You will often hear that the best fiction today is found on resumes. HR professionals’ estimate over fifty percent of the resumes in the market are filled with outright lies. If you think the lie won’t catch up with you should look up the story of Marilee Jones, who was forced to resign her position as MIT’s Dean of Admissions after an investigation revealed that she earned none of the academic degrees she had claimed on her original application 28 years prior. Today people don’t mention what she did for MIT, they talk about the public humiliation of being caught with her backside out in the wind.
Today’s employers are taking their time to hire the right people. Not only will they go through resumes with a fine tooth comb, some managers are even reviewing Facebook pages to see who you associate with and what your interests are. Make sure to keep that Facebook page clean and professional. Staffing Agencies are checking references, confirming employment and verifying education before your resume is sent to the hiring manager for review. When markets are in a recession companies are in control. They will not cut corners.
Deciding what should and should not go on your resume can be frustrating at the best of times. If you follow a couple of guide lines when writing your resume you will be assured to put your best foot forward.
· When referencing your work history, put the month and year on your resume. If you only reference the year recruiters will assume you were hired the last day of that year and fired the first day of the next year. If there are gaps in your history explain them in your cover letter.
· Education with no degree should be represented as that. Simply state the school and dates attended. If you went to Harvard for two years and then left say that.
· Using the correct terminology in your writing will add weight to your resume. If you were responsible for securing 1.5 million dollars selling a machine that is able to create a volume of space that is essentially empty of matter, everyone in the Vacuum Industry will be calling you. Terminology is the top reason why you should write your own resume and not pay to have it written.
If these guide lines are still a challenge you may consider working with a professional resume writer. Always work with a professional from your industry, as they will provide additional resources. These can include suggestions as to where you should post your resume, providing access to additional industry contacts, and being your best business advocate.
Bottom line, take your time and be honest. No relationship starts well when one or both parties are not being truthful. Do you really want to work for someone who has lied to you about their company and the role you are going to play in their future? False pretences lead to eventual failure. The truth will ensure your success in the long run.
The real question being asked here is: “Should I lie on my resume?”
The answer is unequivocal: No way!
You will often hear that the best fiction today is found on resumes. HR professionals’ estimate over fifty percent of the resumes in the market are filled with outright lies. If you think the lie won’t catch up with you should look up the story of Marilee Jones, who was forced to resign her position as MIT’s Dean of Admissions after an investigation revealed that she earned none of the academic degrees she had claimed on her original application 28 years prior. Today people don’t mention what she did for MIT, they talk about the public humiliation of being caught with her backside out in the wind.
Today’s employers are taking their time to hire the right people. Not only will they go through resumes with a fine tooth comb, some managers are even reviewing Facebook pages to see who you associate with and what your interests are. Make sure to keep that Facebook page clean and professional. Staffing Agencies are checking references, confirming employment and verifying education before your resume is sent to the hiring manager for review. When markets are in a recession companies are in control. They will not cut corners.
Deciding what should and should not go on your resume can be frustrating at the best of times. If you follow a couple of guide lines when writing your resume you will be assured to put your best foot forward.
· When referencing your work history, put the month and year on your resume. If you only reference the year recruiters will assume you were hired the last day of that year and fired the first day of the next year. If there are gaps in your history explain them in your cover letter.
· Education with no degree should be represented as that. Simply state the school and dates attended. If you went to Harvard for two years and then left say that.
· Using the correct terminology in your writing will add weight to your resume. If you were responsible for securing 1.5 million dollars selling a machine that is able to create a volume of space that is essentially empty of matter, everyone in the Vacuum Industry will be calling you. Terminology is the top reason why you should write your own resume and not pay to have it written.
If these guide lines are still a challenge you may consider working with a professional resume writer. Always work with a professional from your industry, as they will provide additional resources. These can include suggestions as to where you should post your resume, providing access to additional industry contacts, and being your best business advocate.
Bottom line, take your time and be honest. No relationship starts well when one or both parties are not being truthful. Do you really want to work for someone who has lied to you about their company and the role you are going to play in their future? False pretences lead to eventual failure. The truth will ensure your success in the long run.
Thursday, November 19, 2009
Retaining Top Talent
The recession is coming to the end and you have made it through with ALL your top talent still on board. These people are the ones who kept their heads down and focused on keeping your products solid and your service levels second to none. With employees like this you are set up for success in the coming year. You are going to gain market share and be the leader in your industry.
You've got it made, right?
As companies emerge from this recession and begin to hire they will not be going to the job boards to source the talent they need. The people they are going to want to hire are the same ones who got you through this recession. With ONE well placed call a Headhunter can pull not only your staff out but they will also cost you your future success.
Losing one $60k employee can cost a company on average $ 200k in revenue. The cost of sourcing, interviewing and training a new employee can cost a upwards of 150% of the employee’s salary. The disruption in service to your customers will force a MINIMUM of 10% of your customers to find a new vendor. The stress and overtime force onto other team members will lower their productivity by another 35% . These costs add up quickly and can derail the best of companies.
Studies have shown that people are reluctant to entertain a new position, if they believe the environment they work in to be a good one. The atmosphere you create in your workplace is the key to keeping your top talent. Little things, such as providing free beverages, a clean work area and friendly co-workers go a long ways in providing a place people want to come, day in and day out.
By identifying your top talent you will be giving the leader in your organization a voice. This will enable you to specifically target their valid needs and address their concerns quickly. By taking care of them, they will project a sense of well being throughout your organization.
When times are good your staff needs to see you. When times are tight your staff MUST see you. Get out of your office; go get a cup of coffee, say hello to everyone. By being visible and involved people will go the extra mile. They will feel they have a connection to you and can effect positive change.
The day-to-day work can be tedious. Training can break up that monotony and rejuvenate an employee who feels his or her job goes unnoticed. Training can be as simple as offering online courses from the local college. You will find employees will not only complete the course enthusiastically, but, given the freedom, they will do more training on their own time.
Salary is not the most important thing to your employees, but it does go a long way. Rich companies can trap employees by over paying them as much as 10%, forcing that employee to take a pay cut to advance their career. To avoid the animosity created by “golden hand-cuffs”, a quarterly bonus system is highly recommended. When bonuses are paid fairly and on-time, productivity goes up and employees will be looking forward to the extra income, which will make them reluctant to accept a new position before the bonus is paid. By then the employee is into the next bonus cycle and the other potential employer has found a new candidate.
Do not be afraid to ask how you are doing as an employer. Equally, do not hesitate to ask people why they are resigning. By conducting "Engagement Surveys" and "Exit Interviews", you will gather priceless information about underling problems that can be fixed.
The human factor is the competitive edge companies need to stay ahead of the curve, especially in today’s marketplace. Recruiters know the difference between you and your competitors, and are always looking for talent. If you are not working at retaining your top people, then you are working to lose them.
You've got it made, right?
As companies emerge from this recession and begin to hire they will not be going to the job boards to source the talent they need. The people they are going to want to hire are the same ones who got you through this recession. With ONE well placed call a Headhunter can pull not only your staff out but they will also cost you your future success.
Losing one $60k employee can cost a company on average $ 200k in revenue. The cost of sourcing, interviewing and training a new employee can cost a upwards of 150% of the employee’s salary. The disruption in service to your customers will force a MINIMUM of 10% of your customers to find a new vendor. The stress and overtime force onto other team members will lower their productivity by another 35% . These costs add up quickly and can derail the best of companies.
Studies have shown that people are reluctant to entertain a new position, if they believe the environment they work in to be a good one. The atmosphere you create in your workplace is the key to keeping your top talent. Little things, such as providing free beverages, a clean work area and friendly co-workers go a long ways in providing a place people want to come, day in and day out.
By identifying your top talent you will be giving the leader in your organization a voice. This will enable you to specifically target their valid needs and address their concerns quickly. By taking care of them, they will project a sense of well being throughout your organization.
When times are good your staff needs to see you. When times are tight your staff MUST see you. Get out of your office; go get a cup of coffee, say hello to everyone. By being visible and involved people will go the extra mile. They will feel they have a connection to you and can effect positive change.
The day-to-day work can be tedious. Training can break up that monotony and rejuvenate an employee who feels his or her job goes unnoticed. Training can be as simple as offering online courses from the local college. You will find employees will not only complete the course enthusiastically, but, given the freedom, they will do more training on their own time.
Salary is not the most important thing to your employees, but it does go a long way. Rich companies can trap employees by over paying them as much as 10%, forcing that employee to take a pay cut to advance their career. To avoid the animosity created by “golden hand-cuffs”, a quarterly bonus system is highly recommended. When bonuses are paid fairly and on-time, productivity goes up and employees will be looking forward to the extra income, which will make them reluctant to accept a new position before the bonus is paid. By then the employee is into the next bonus cycle and the other potential employer has found a new candidate.
Do not be afraid to ask how you are doing as an employer. Equally, do not hesitate to ask people why they are resigning. By conducting "Engagement Surveys" and "Exit Interviews", you will gather priceless information about underling problems that can be fixed.
The human factor is the competitive edge companies need to stay ahead of the curve, especially in today’s marketplace. Recruiters know the difference between you and your competitors, and are always looking for talent. If you are not working at retaining your top people, then you are working to lose them.
Subscribe to:
Posts (Atom)
Posts
