SigmaWay Blog

The new HR trends for 2017 are: i. Absorbing the generation Z and discarding the traditional idea of recruiting millennial. ii. Build strong morale and ethics in the employees and not just pressurize them for numbers. iii. Demeaning the annual performance report is not enough as some companies have done and HR's are emphasizing more on data collection and chance managed management. iv. A new technique like peer-based evaluation is an alternative to annual reports but it is difficult to separate pay from performance. v. Contingent workforce is on the rise and HR's are developing new methods to train them accordingly. Read more at: https://www.fastcompany.com/3066976/the-top-five-hr-trends-for-2017

For much of the past five decades, financial capital was considered a scarce resource. Today, however, capital is abundant and cheap, and the authors expect the same in another 20 years. Global financial assets have been growing faster than global GDP, and they explain why that trend is likely to continue. It is found that as the supply of capital has increased, the cost has plunged, making it possible for many large firms to borrow funds for next to nothing. Companies can no longer sustain competitive advantage simply by allocating capital skillfully. Now, business leaders need to lower hurdle rates and change their investment strategy, moving away from a few big bets and instead pursuing numerous small, varied growth opportunities. Organizations need to manage their work forces as carefully and rigorously as they manage their financial assets, unleashing and supporting the talent within their organizations. Read more at: https://hbr.org/2017/03/strategy-in-the-age-of-superabundant-capital

New leaders when inherit a group that is not enough hard working should take some time to listen and appreciate whatever the present situation is rather than imposing new norms to make their own mark. After assessing the situation, if the managers find the need for quick and fundamental change then they should address the problem systematically. The key to become an effective leader is to first get feedback from trusted sources. One should consult with his HR to ensure new standard doesn’t conflict with company policy. You can have a conversation with your peer managers and boss before addressing workgroup. While discussing business case the leader should be open to all ideas and shouldn’t come across as a resentful person. If any problem of transgression or insubordination arises, calmly and deliberately confront the behavior and impose appropriate consequences. Effective communication can raise the bar of your new team. Read more at https://hbr.org/2017/06/what-to-do-when-you-inherit-a-team-that-isnt-working-hard-enough

The reason behind continuous increase in efficiency and productivity for some businesses is their clear focus on a culture of continuous improvement and innovation. In majority of the cases, the reasons behind weak process culture are- lack of staff management, little or no collaboration among employees along with low morale, and unhelpful business process documentation. Fortunately, this weak process culture can be fixed. The fixing process starts with demonstration of active leadership. This requires some engagement and communication with the staff like celebrating the successes, making communication personal and fostering healthy competitions, and using discussion threads along with the ‘like’ button for feedback. The other fixing step is to Appoint Chief Process Officer(CPO) and process champions to communicate their vision of improvement to the entire staff, and substantiate it with evidences. All this can’t be successful until the real process owners, i.e., those responsible for operating the process efficiently, are not empowered. Read more at: http://www.utilityproducts.com/articles/print/volume-21/issue-5/feature-stories/secret-to-unleashing-an-unstoppable-improvement-culture.html

Financial capital is relatively abundant as compared to human capital. Inspired employees are rare who are capable of making a difference. Thus, inspired employees are an asset to companies. Both financial capital and human capital can be maintained efficiently by following these steps.

1. Measure human capital using productive power index.

2. Invest equally in human capital and financial capital. Consider the opportunity cost of time and talent.

3. Monitor it by measuring the actual and expected results.

4. Productive employees should be rewarded to inspire them.

Read more at http://www.humanresourcesonline.net/how-can-we-manage-human-capital-as-well-as-we-manage-financial-capital/

Economics is encountered in everyday by us. Product team can get benefited in attempt to build a good product if they keep in mind some principles and economics theories. i) Trade-off by product team for retaining a potential product feature may end up because of negative reviews by users. ii) Release changes have opportunity costs attached to them. iii) Since users respond to incentives, product team should contain gamification in checklist, iv) Behavioral economics can be useful to figure out the areas where users are struggling with respect to product. v) There should be minimum information asymmetry to drive positive user experience vi) Game theory can be helpful in decision making to improve market strategies. Read more at: https://www.entrepreneur.com/article/295741

Research show that providing feedback is always important as it increases the engagement three times than leaders. Positive feedback has biggest positive impact on engagement when feedback relates to positive strengths, weaknesses. But, negative feedback disengages employees. There should be two types of considerations while giving feedback: 1) Caring personally about the person one is giving feedback to. 2) Being clear and direct about the feedback. Giving wrong feedback to employees should be avoided. While reading and mentorship are valuable, best lessons come from experience i.e.; giving and receiving feedback is an art and skill that can be developed. Receiving feedback is equally important as giving it. Read more at: http://www.business2community.com/leadership/need-give-employees-feedback-01864336#xkvGRIOh7vuw2eQB.97

Nowadays, finding a desired job is not easy, but with personal branding, one can find it easily. Personal branding is a term coined by Tom Peters, in his breakthrough article “ A Brand Called You”. Every person is unique in its own skills. There are a lot of reasons why understanding and building your own personal brand will help you achieve success in the future. Some of which are: 1.) Question yourself: Ask yourself  Who are you ? What are you? Once you start identifying the blocks that build your personality, you can find yourself standing out from the crowd. 2.)  Social media: In the  present era you need  not go out to search for a job. What you can do is maintain your social media. A lot of  business partners who are currently running their successful businesses had their first encounter with social media. Does anything get better than this? Read more at: https://www.entrepreneur.com/article/295522

Salary negotiation is a key to get to the top of the rat race as the World Bank data suggests that 69% of jobs in India are suspected to be taken away by automation. The World Economic Forum predicts 35% of top professional skills today would be replaced in the near future. At present, every person is required to re-assess their skills and re-skill themselves. If automation will disrupt several jobs, there will be technologies like IoT creating many more jobs necessitating critical problem solvers. It is predicted that advanced robotics, artificial intelligence, advanced materials, biotechnology and genomics would be the next frontier of employment. Only with requisite skills in these disruptive fields and a multi-disciplinary approach could empower future job seekers to become critical organizational assets. Read more at : http://economictimes.indiatimes.com/jobs/in-the-age-of-disruption-what-are-the-new-rules-of-negotiating-salary/articleshow/59047575.cms

10 skills you need to stay ahead to get a good career. They are:

1) AI/machine learning researcher: A PhD in machine learning algorithms will be a hot skill in future. 2) AI software development: Developing the systems and infrastructure that can apply in machine learning to an input data set which includes program management and test. 3) Human interaction designer: A process in which designers focus on creating engaging web interfaces with logical and well-thought-out behavior and actions. 4) Machine learning applications: Applying machine learning to a specific problem in a different domain. 5) Full stack developers: The developer can work with databases, PHP, HTML along with venturing as far as converting Photoshop designs to front-end code. 6) 3D design 7) Content engineering: Content strategist targets the ‘who, what, when, where and why’ of content experiences and assets. 8) Data fluency: Employers are already looking to build a workforce with solid skills in data analysis and presentation. 9) Thinking out-of-the-box: Creativity will become one of the key skills employees will need to develop. 10) People skills: People management, coordinating with others, collaboration, etc. will be of utmost importance. Read more at : http://economictimes.indiatimes.com/jobs/in-the-world-of-digitalisation-these-10-new-skills-will-help-you-to-stay-ahead/articleshow/59008347.cms

Before making any decision, recruiters scan the resumes foe barely a minute. A study by TimesJobs talks about what recruiters look for into the resume. Being specific to a job and highlighting the right ones is most important while applying for a job. Skills that one includes needs to be substantiated. Nearly 40% recruiters say, focusing on skills relevant to the job offered is the best way to be shortlisted. Another 36% say that analytical skills, leadership, teamwork help stand out your resume. 35% recruiters advise to include skills that provide value-additions to the job profile you are applying for. Substantiating skills and experience with measurable results is a good way say 21% recruiters. 20% of them advise to add relevant keywords for skills help increasing visibility.  60% managers say that soft skills and non-technical skills like communication, leadership, teamwork and collaboration, analytical, adaptability, planning and strategic thinking skills are crucial while hiring candidates. The resume is the first point of contact between a candidate and an employer - and making this first impression a good one is critical in getting ahead in one's career. Read more at : http://economictimes.indiatimes.com/jobs/a-resume-gets-only-a-minute-of-a-recruiters-time-says-timesjobs-study/articleshow/59017222.cms

Software robots are playing an increasing role in workplaces. Robotics helps in improving productivity of the employees. America, at present, is the largest market for RPA (Robotic Process Assistant). RPI is a great fit to the Banking, Financial Services and Insurance sector. RPA has great market potential, but as of now, it has less than 5% share of the total potential share. The most important point is that the RPA will not replace humans completely, but it is likely to provide relief to humans from repetitive, manual and monotonous work. Read more at : http://www.cxotoday.com/story/robotics-in-the-workplace/

Even though the stability of startups is highly uncertain, still it is the most sought-after category of workplaces in India. Established startups such as Flipkart and Paytm rule the roost, some other best startups for workplace in India are Robolab Technologies, Fynd, 1mg.com,etc. According to CEO of Aasanjobs, based on parameters like career development, work engagement, compensation, relationship management and work environment, startups were surveyed to form a list of best workplace in India. Read more at: http://economictimes.indiatimes.com/small-biz/startups/startups-most-sought-after-category-of-workplaces-in-india-report/articleshow/58929944.cms

Managing people can turn out to be more important than managing money for the companies. Human capital is measured by time, energy and talent of the workforce. Statistics say that only about 15% of the workforce of a company makes a difference. Finding and retaining this 15% is a difficult task. Mostly, it has been observed that abundant financial capital is carefully managed but scarce human capital is not managed properly. This trend has to be altered to achieve success. Read more at: https://hbr.org/2017/05/what-if-companies-managed-people-as-carefully-as-they-manage-money

Organizations have traditionally been structured in a top-down manner. Often missing in this structure is the connectivity between functions and departments. What connects workflows are business processes. According to the author, 72% of all improvement opportunities are directly related to deficient business processes and organization silos. Many leaders miss the fact that, without a strong business process structure, it is nearly impossible to improve performance. The sources of problems that arise, remain hidden in such case, and so lead to a trivial solution. Thus, redefining the organization according to workflow and knowledge requirements is important, and then improvement opportunities offered can be addressed. Hence, the organization silo problem can be solved by matching up the organization chart with the business system and business process. Read more at: http://www.businessmapping.com/blog/eliminate-organization-silos/

Human capital Management (HCM) solution is a sophisticated tool to manage the workforce and streamlines Human Resource workflow. In addition, the technology's analytical capabilities aid decision making with data-driven evidence. It is pivotal to choose the right HCM vendor to maximize business human capital. One should look for following features in an HCM provider: provides streamline workflow, seeks a system to integrate HR functions into single HCM platform, it can deliver on intangibles like customer service, mobile designs, self-service capabilities, analytics, system scalability, system security etc. Cloud-based HCM solutions provide greater security protections than locally hosted software at a lower cost. Choosing a right HCM system partner reap significant dividends in cost savings, labor efficiency, and employee morale. Read more at  https://www.paychex.com/articles/hcm/right-partner-buying-human-capital-management-system

According to the author, there has been an increase in global workforce turnovers. Recruiting and retaining skilled employees with high potential is a challenge nowadays. According to statistics, about 87% of the companies are considering redesigning their talent management programs. The best human capital management programs are strategy driven and try to accommodate the following trends. 1. Widespread globalised population. 2. Shifting Demographics. 3. Increased burdens on HRs, which can be relieved by integrating systems and functions .4. Increasing compliance requirements. 5. Increased cost, which may arise due to inability to acquire and retain key talent. Read more at https://www.adp.com/spark/articles/5-trends-that-will-redefine-human-capital-management-7-205

In today's world, maintaining a company's culture is the most important thing that should be kept in mind during an expansion. Communication can happen across different time zone. Expansion can lead to many problems like, poor communication or communication breakdown which in turn may affect company culture. For overcoming these situations, companies can take the help of some tools to preserve and enhance your culture. They are:

1. Videoconferencing,

2. Social Networking,

3. Collaborative tools such as Google docs, Mind Meister.

In short, by effectively coordinating collaborative technologies your organization culture can thrive. Read more at: http://www.business2community.com/business-innovation/technology-can-save-company-culture-expansion-01810807#VcKudEFscr36wuVI.97

Including valid keywords in your resume gives a fair chance of getting a call. Here are the ways you utilize keywords effectively. • If you want to get in through a job ad, then analyze what requirements they are looking for. Accordingly highlight the key requirements and qualifications in your resume.

• Be tactful in making your resume. Don’t overuse or include your keywords in every sentence.

Conclusion: Employers and selection representative alike, will mostly examine your resume for keywords like job requirements and qualification. Most of them use software to pick the keywords. So, give yourself the best chance to land that position today by including keywords effectively in your resume for your next employment.

Read more at: http://www.business2community.com/human-resources/keywords-resume-use-correctly-01813482#3cVXokF3syIJ72SA.97

LinkedIn is popular as Facebook of the professional world. Employers have less time to spare, so once they reach your profile there are few things that they would want to know at once. What are you doing currently and what job title suits you, will definitely interest the employer. Make sure that the employer doesn’t have too deep dig to find out what makes you credible and how good your writing skills are. You will have to steal the opportunity to brand yourself. Boosting about your skills and the highest professional accomplishments will attract the recruiter’s attention. Highlighting certain tools with which you have some experience can help you get the extra edge. Apart from you, what others have to say about you, also matters to the employer, so make sure you include it. Conveying your passions through word will act like icing on the cake. Read more at: https://www.entrepreneur.com/article/278708