Indian insurance firms on high growth curve
IBEF: December 11, 2009
New Delhi: The Indian life insurance industry has registered a double-digit growth figure of 35.7 per cent year-on-year (y-o-y) in October 2009, owing to large inflows in first-year premiums.
The government-owned Life Insurance Corp of India (LIC) leads the industry with a growth of 45 per cent y-o-y in its annual premium equivalent (APE). Private firms succeeded in mobilising US$ 3.48 billion in the first-year premiums during the first seven months of FY10. The mobilisation stood at US$ 3.82 billion during the same period in FY09.
Some of the strong private players which posted double-digit growth on m-o-m basis include ICICI Prudential Life Insurance Co Ltd, SBI Life Insurance Co Ltd and Max New York Life Insurance Co Ltd. Among small insurers Tata AIG (APE up by 74 per cent y-o-y) and Max New York Life (APE up by 58 per cent y-o-y) witnessed robust growth.
Saturday, December 19, 2009
Saturday, December 12, 2009
Create your own opportunity
I believe that a recruitment consultant's responsibility is not just forwarding resume' but add value to the entire recruitment process - assuming client's responsibility in screening and facilitating jobseekers learn and develop to join the race of prospective candidates. Hence the recruitment has to be uncompromising than accomodative.
A 7 point resume' is enough on the content
Personal details - name, age, DOB, address, phone, mail
Organisation - name, position, location, period
Value adding Hobbies - enjoying something diagonally opposite to your job - eg: Accountant doing painting. ( Some accountant says his hobby is reading accounts magazine). Any diagonally opposite hobby can bring verstality in the individual and hence very important to present your hobby face to the employer.
Role is the most important part of any resume'.
Lets see what is the ROLE of any position? Is it what we do for the entire day? or is it our responsibilities?
for eg: What is the role of a father in a house? WHat are his responsibilities and what are the functions he will end up doing?
Providing the basic needs(food, shelter, clothing)/ Education/Safety/ is his Role. Then, does that mean he has to personally go and buy vegetables, clothes, books etc, etc everyday for his family? Certainly not. But sometimes he will do all these Functions because he is Responsible for whatever happens to his family.
If that is what roles and responsibilities and functions are, then how do you understand the Role of a position you occuppy in an organisation?
Simple................... "What is one or two things that will not happen if the Sales Executive ( refers to the position & not to the person) isn't there? will answer the Sales Executive's role.
or ......What all will not happen if my wife takes one week leave from he Role? explains her role.
But in this case, on the firsr day, I will celebrate as a great freedom day; cooking, cleaning, washing, sending children to school, helping them in their homework, studying for them, doing their projects, shopping vegees, stationery etc etc... Why am I doing these? Responsibility! and what I end up doing ( different tasks) are the Functions in the job as a Father.
A CEO talks about sales also and a Sales Executive also talks about it. Are their roles same? Is the Sales Executive responsible for a bad service process that brings down the sales of the company?
Is ROLE different from Functions and Responsibilities? What do you think?
Role explains WHY in the position and refers to the position and not any person in particular.
For example , all Fathers have the same Role, each one of them assume different Responsibilities and because of that they end up doing different functions or tasks.
Role is the expectation and Objectivity of the business - Selcetion of candidates MUST be based on the role he/she will have to play - because, the skills and competencies depend on the role only and not the functions. I drive quite well; but I cant be a professional driver. Why? Role experience works........
If you have been in a role, then you are wise about it, else otherwise.
So when you write your resume', describe what role you are occupying in your company. You may end up doing sales, administration, budgeting, managing internal & external relations, sending reports, exercising commercial controls etc.
But What is your Role? Add only bullet points . Role is only simple words like --------
* Generating dynamic MIS stats to facilitate business planning - For a MIS executive
* Steamlining, executing and monitoring budgeted promotions for the alloted geography to maximise through put. - For a promotion executive
* Building market share/ Creating business acumen/ Developing strategic commercial controls/ Creating Talent Pool of incumbents for future leadeships. - For a CEO/ Board of Director
In an interview, More clarity an employer has about your role, easier for him to select you based on the skills and competencies.
Managers who understand their roles do better like some parents who make their children lucky...
...................................................will be contd.
Many jobseekers ( I have come across ) have a starting problem - especially with their resume' building. While there are plenty of material available on how to build a resume, I think its a personal brief where one portrays unembellished description about oneself What do you think?
A 7 point resume' is enough on the content
Personal details - name, age, DOB, address, phone, mail
Organisation - name, position, location, period
Role ( not responsibilities or functions) - will discuss
Contributions ( your) - will discuss
Recognitions ( received) - will discuss
Memberships ( only for senior management) - Directorship, Chairmanship etcValue adding Hobbies - enjoying something diagonally opposite to your job - eg: Accountant doing painting. ( Some accountant says his hobby is reading accounts magazine). Any diagonally opposite hobby can bring verstality in the individual and hence very important to present your hobby face to the employer.
Role is the most important part of any resume'.
Lets see what is the ROLE of any position? Is it what we do for the entire day? or is it our responsibilities?
for eg: What is the role of a father in a house? WHat are his responsibilities and what are the functions he will end up doing?
Providing the basic needs(food, shelter, clothing)/ Education/Safety/ is his Role. Then, does that mean he has to personally go and buy vegetables, clothes, books etc, etc everyday for his family? Certainly not. But sometimes he will do all these Functions because he is Responsible for whatever happens to his family.
If that is what roles and responsibilities and functions are, then how do you understand the Role of a position you occuppy in an organisation?
Simple................... "What is one or two things that will not happen if the Sales Executive ( refers to the position & not to the person) isn't there? will answer the Sales Executive's role.
or ......What all will not happen if my wife takes one week leave from he Role? explains her role.
But in this case, on the firsr day, I will celebrate as a great freedom day; cooking, cleaning, washing, sending children to school, helping them in their homework, studying for them, doing their projects, shopping vegees, stationery etc etc... Why am I doing these? Responsibility! and what I end up doing ( different tasks) are the Functions in the job as a Father.
A CEO talks about sales also and a Sales Executive also talks about it. Are their roles same? Is the Sales Executive responsible for a bad service process that brings down the sales of the company?
Is ROLE different from Functions and Responsibilities? What do you think?
Role explains WHY in the position and refers to the position and not any person in particular.
For example , all Fathers have the same Role, each one of them assume different Responsibilities and because of that they end up doing different functions or tasks.
Role is the expectation and Objectivity of the business - Selcetion of candidates MUST be based on the role he/she will have to play - because, the skills and competencies depend on the role only and not the functions. I drive quite well; but I cant be a professional driver. Why? Role experience works........
If you have been in a role, then you are wise about it, else otherwise.
So when you write your resume', describe what role you are occupying in your company. You may end up doing sales, administration, budgeting, managing internal & external relations, sending reports, exercising commercial controls etc.
But What is your Role? Add only bullet points . Role is only simple words like --------
* Generating dynamic MIS stats to facilitate business planning - For a MIS executive
* Steamlining, executing and monitoring budgeted promotions for the alloted geography to maximise through put. - For a promotion executive
* Building market share/ Creating business acumen/ Developing strategic commercial controls/ Creating Talent Pool of incumbents for future leadeships. - For a CEO/ Board of Director
In an interview, More clarity an employer has about your role, easier for him to select you based on the skills and competencies.
Managers who understand their roles do better like some parents who make their children lucky...
...................................................will be contd.
The Top 10 Leadership Qualities
Leadership can be defined as one's ability to get others to willingly follow. Every organization needs leaders at every level. Leaders can be found and nurtured if you look for the following character traits.
A leader with vision has a clear, vivid picture of where to go, as well as a firm grasp on what success looks like and how to achieve it. But it’s not enough to have a vision; leaders must also share it and act upon it. Jack Welch, former chairman and CEO of General Electric Co., said, "Good business leaders create a vision, articulate the vision, passionately own the vision and relentlessly drive it to completion."
A leader must be able to communicate his or her vision in terms that cause followers to buy into it. He or she must communicate clearly and passionately, as passion is contagious.
A good leader must have the discipline to work toward his or her vision single-mindedly, as well as to direct his or her actions and those of the team toward the goal. Action is the mark of a leader. A leader does not suffer “analysis paralysis” but is always doing something in pursuit of the vision, inspiring others to do the same.
Analysis
Integrity is the integration of outward actions and inner values. A person of integrity is the same on the outside and on the inside. Such an individual can be trusted because he or she never veers from inner values, even when it might be expeditious to do so. A leader must have the trust of followers and therefore must display integrity.
Honest dealings, predictable reactions, well-controlled emotions, and an absence of tantrums and harsh outbursts are all signs of integrity. A leader who is centered in integrity will be more approachable by followers.
Dedication means spending whatever time or energy is necessary to accomplish the task at hand. A leader inspires dedication by example, doing whatever it takes to complete the next step toward the vision. By setting an excellent example, leaders can show followers that there are no nine-to-five jobs on the team, only opportunities to achieve something great.
Magnanimity means giving credit where it is due. A magnanimous leader ensures that credit for successes is spread as widely as possible throughout the company. Conversely, a good leader takes personal responsibility for failures. This sort of reverse magnanimity helps other people feel good about themselves and draws the team closer together. To spread the fame and take the blame is a hallmark of effective leadership.
Leaders with humility recognize that they are no better or worse than other members of the team. A humble leader is not self-effacing but rather tries to elevate everyone. Leaders with humility also understand that their status does not make them a god. Mahatma Gandhi is a role model for Indian leaders, and he pursued a “follower-centric” leadership role.
Openness means being able to listen to new ideas, even if they do not conform to the usual way of thinking. Good leaders are able to suspend judgment while listening to others’ ideas, as well as accept new ways of doing things that someone else thought of. Openness builds mutual respect and trust between leaders and followers, and it also keeps the team well supplied with new ideas that can further its vision.
Creativity is the ability to think differently, to get outside of the box that constrains solutions. Creativity gives leaders the ability to see things that others have not seen and thus lead followers in new directions. The most important question that a leader can ask is, “What if … ?” Possibly the worst thing a leader can say is, “I know this is a dumb question ... ”
Fairness means dealing with others consistently and justly. A leader must check all the facts and hear everyone out before passing judgment. He or she must avoid leaping to conclusions based on incomplete evidence. When people feel they that are being treated fairly, they reward a leader with loyalty and dedication.
Assertiveness is not the same as aggressiveness. Rather, it is the ability to clearly state what one expects so that there will be no misunderstandings. A leader must be assertive to get the desired results. Along with assertiveness comes the responsibility to clearly understand what followers expect from their leader.
Many leaders have difficulty striking the right amount of assertiveness, according to a study in the February 2007 issue of the Journal of Personality and Social Psychology, published by the APA (American Psychological Association). It seems that being underassertive or overassertive may be the most common weakness among aspiring leaders.
A sense of humor is vital to relieve tension and boredom, as well as to defuse hostility. Effective leaders know how to use humor to energize followers. Humor is a form of power that provides some control over the work environment. And simply put, humor fosters good camaraderie.
Intrinsic traits such as intelligence, good looks, height and so on are not necessary to become a leader. Anyone can cultivate the proper leadership traits.
May 26 2009
The original source of this article is HRWorld.com, part of the Focus network of sites.
Education Sector in India
Advent of big corporate players in Education Sector in India
Advent of big corporate players in Education sector Sector in India is a threat or catalyst for Indian Education market?Reliance India’s biggest business house is planning to launch a private university on the lines of Ivy League institutions, says a company insider, though the contours are yet to be finalised. And for a country betting on its demographic dividend, that would be good news. Already populated with corporates such as the Birlas and Mahindras, besides private equity players and institutional investors, the education sector can absorb a lot more by way of private investments.
According to an IDFC-SSKI report, Indians spend $50 billion annually on private education. The four segments of the education market—plus two, higher education, vocational and supplemental education—will present an $80-billion opportunity by 2012. It is expected to grow at a CAGR of 16%, says a CLSA Pacific study.
“Mukesh envisions bringing global education to India. He will outline a road map for the business in the AGM speech,” said an executive close to RIL who did not wish to be named. An RIL spokesman declined to comment. The contours of RIL’s plans are yet to emerge, but another powerhouse, the AV Birla Group, has already played its hand at commercial education with the Sarala Birla Academy in Bangalore. It has plans to open schools to offer
Modern education to students in the country’s hinterland.
Ditto Jaiprakash Industries, which is already running engineering institutes, while London-listed mining giant Vedanta Group has announced a large university near Puri in Orissa. Those in the wait list include Chennai-based Murugappa group and FMCG company Ruchi Soya.
“The challenge is to link education to careers,” says Satya Narayanan R, chairman of Career Launcher, which started as an educational training institute. It is now opening schools of its own as part of a diversification drive. Birla Shloka Edutech Ltd, promoted by the Yash Birla group, is opening super-specialty colleges and pre-schools. “We are planning to open 200 pre-schools, 100 KG-12 schools and super specialty colleges over the next 5-7 years,” said Birla Shloka managing director N Srikrishna.
Maharana Pratap Education Centre, another established privately-held player like Career Launchers, is now setting up a private university at Jaipur offering 70 courses, says its MD, Shailendra Bhadauria. “Businesses will converge in education and existing players will enter adjacent categories as the industry evolves,” explains Amitabh Jhingan, head-education practice at Ernst & Young.
Private equity and venture capital investors have made over 30 investments worth $300 million in recent years, though a fourth of these investments (in value terms) has gone to the e-learning segment. India Equity Partners is also close to finalising a deal to invest in IL&FS Education & Technology Services Ltd.
“It’s a sector that’s core to India’s development. It will grow with the natural progression of the company,” says Ved Prakash Arya, CEO of Milestone Capital, which is raising a $250-million education and healthcare fund. HRD minister batting for delicensing education
AND then there are a raft of institutes, including the prestigious Birla Institute of Science & Technology and Tata Institute of Social Sciences, which are part of the CSR programmes of the respective groups.
RIL too runs one such institute, the Dhirubhai International School in Mumbai, while the Anil Ambani-controlled ADAG group owns Dhirubhai Ambani Institute of Information & Communication Technology in Ahmedabad. The Aditya Birla group runs 42 schools, mostly in the vicinity of their plants, providing education to 45,000 students. Essar recently started a continuous learning education centre called Avid. Industry experts say some of these can be converted into profitable business models once the industry is delicensed. They can take heart, for, one of those arguing for delicensing is Kapil Sibal, the Union human resource development minister. He took the initiative in forming CII panels on educational reforms in which prominent industrialists are members.
“Current regulations limit the range of profitable business models available to corporates. This could constrain investments into the sector,” says Dushyant Singh, director (transaction services), KPMG. The existing rules restrict ownership of schools to trusts and no-profit bodies. While fees are not restricted, regulations come in the way of distribution of dividends or investments of the surplus money in setting up schools.
“The government is moving in the direction of deregulation of the sector. Long-term perspective is important in the education business,” says Career Launcher’s Satya Narayanan R.
Sumit Kanu
According to an IDFC-SSKI report, Indians spend $50 billion annually on private education. The four segments of the education market—plus two, higher education, vocational and supplemental education—will present an $80-billion opportunity by 2012. It is expected to grow at a CAGR of 16%, says a CLSA Pacific study.
“Mukesh envisions bringing global education to India. He will outline a road map for the business in the AGM speech,” said an executive close to RIL who did not wish to be named. An RIL spokesman declined to comment. The contours of RIL’s plans are yet to emerge, but another powerhouse, the AV Birla Group, has already played its hand at commercial education with the Sarala Birla Academy in Bangalore. It has plans to open schools to offer
Modern education to students in the country’s hinterland.
Ditto Jaiprakash Industries, which is already running engineering institutes, while London-listed mining giant Vedanta Group has announced a large university near Puri in Orissa. Those in the wait list include Chennai-based Murugappa group and FMCG company Ruchi Soya.
“The challenge is to link education to careers,” says Satya Narayanan R, chairman of Career Launcher, which started as an educational training institute. It is now opening schools of its own as part of a diversification drive. Birla Shloka Edutech Ltd, promoted by the Yash Birla group, is opening super-specialty colleges and pre-schools. “We are planning to open 200 pre-schools, 100 KG-12 schools and super specialty colleges over the next 5-7 years,” said Birla Shloka managing director N Srikrishna.
Maharana Pratap Education Centre, another established privately-held player like Career Launchers, is now setting up a private university at Jaipur offering 70 courses, says its MD, Shailendra Bhadauria. “Businesses will converge in education and existing players will enter adjacent categories as the industry evolves,” explains Amitabh Jhingan, head-education practice at Ernst & Young.
Private equity and venture capital investors have made over 30 investments worth $300 million in recent years, though a fourth of these investments (in value terms) has gone to the e-learning segment. India Equity Partners is also close to finalising a deal to invest in IL&FS Education & Technology Services Ltd.
“It’s a sector that’s core to India’s development. It will grow with the natural progression of the company,” says Ved Prakash Arya, CEO of Milestone Capital, which is raising a $250-million education and healthcare fund. HRD minister batting for delicensing education
AND then there are a raft of institutes, including the prestigious Birla Institute of Science & Technology and Tata Institute of Social Sciences, which are part of the CSR programmes of the respective groups.
RIL too runs one such institute, the Dhirubhai International School in Mumbai, while the Anil Ambani-controlled ADAG group owns Dhirubhai Ambani Institute of Information & Communication Technology in Ahmedabad. The Aditya Birla group runs 42 schools, mostly in the vicinity of their plants, providing education to 45,000 students. Essar recently started a continuous learning education centre called Avid. Industry experts say some of these can be converted into profitable business models once the industry is delicensed. They can take heart, for, one of those arguing for delicensing is Kapil Sibal, the Union human resource development minister. He took the initiative in forming CII panels on educational reforms in which prominent industrialists are members.
“Current regulations limit the range of profitable business models available to corporates. This could constrain investments into the sector,” says Dushyant Singh, director (transaction services), KPMG. The existing rules restrict ownership of schools to trusts and no-profit bodies. While fees are not restricted, regulations come in the way of distribution of dividends or investments of the surplus money in setting up schools.
“The government is moving in the direction of deregulation of the sector. Long-term perspective is important in the education business,” says Career Launcher’s Satya Narayanan R.
Sumit Kanu
Top 25 Careers to Pursue in a Recession
If you want to recession-proof your career, the key is to focus on work that continues even when most people don't have disposable income to spend. So while consumers may not hit the mall as often, you can guarantee that people will continue to get sick, pay taxes and use energy. These are just a few of the careers and industries that can be expected to thrive in a down economy.
1. Health Care: People will always get sick — sometimes even more so when they don't have the insurance or money to take preventative measures or eat healthy food.
2. Energy: Although consumers are likely to cut back, they're not going to stop using energy. In fact, this industry may grow, as companies look for more efficient ways to deliver using less energy.
3. Education: No matter how dire the economy is, there are always jobs for teachers. Kids will still go to school, and many out-of-work adults may decide to continue their education.
4. Utilities: Just like the energy sector, it's safe to assume that people are not going to stop lighting their homes. So utility administration, maintenance and other related jobs should remain intact.
5. International Business: Even when the economy is doing poorly in the U.S., other countries may be doing well. So if you are involved in international business, you can expect your career to stay safe.
6. Public Safety: Police layoffs are very rare, especially at a time where public safety is threatened by desperate criminals. A career in public safety is almost guaranteed to be secure.
7. Funerals: Just like people won't stop getting sick, they'll continue to die as well, so as morbid as it is, morticians will always have customers.
8. Accounting: Death and taxes are a sure thing. In a recession, people and companies are likely to get desperate for more deductions and a hard look at their books.
9. Federal Government: Most federal-government jobs end only when workers retire. Additionally, government services tend to step up in times of recession, so your chances of getting and keeping a government job are good.
10. Pharmaceuticals: As long as doctors prescribe them, people are still going to take drugs. So whether you're behind the pharmacy counter or in the lab, you can rest easy.
11. Sales: As a general rule, anyone who is a source of income for a company will be safe, so salespeople — especially in recession-proof industries — have little to worry about.
12. Military: The military is always hiring, especially during wartime. Also, consider that most of your living expenses are covered, so cost-of-living expenses are not really a concern.
13. Gambling: When times get tough, people seek an outlet. One of those outlets is gambling, especially because it offers a chance to turn financial troubles around.
14. Alcohol: Alcohol is another outlet for troubled times, so distributors and manufacturers in this industry will continue to thrive.
15. Politics: Even in a recession, public officials are still around earning tidy sums, which are often tied to the cost of living.
16. Skilled Services: Hair will always grow, and drains will always clog, so you can expect steady work in skilled services like plumbing and hairstyling.
17. Debt Management: Recessions mean crunch time for debtors, and they're sure to need some guidance.
18. Consulting: Recessions are crunch times for companies as well, and they're likely to bring in consultants for advice on efficiency and squeezing the most out of their resources.
19. Bankruptcy Law: It's sad, but true: As companies and individuals go bankrupt, they'll need a lawyer to help them work through it all.
20. Government Contracting: Despite money troubles, roads must be maintained and schools must be built. Contract your work out for government functions for job security.
21. Food: People need food to survive, and it's not likely that anyone is going to just stop eating — no matter how bad the economy gets.
22. Beauty, Health and Erotic Services: Regardless of a recession, people who enjoy being pampered will seldom give up the simple pleasures in life.
23. Debt Collection: As budgets get squeezed, people will fall behind on payments, and companies will look to debt collectors to recoup their costs.
24. Ultraluxury Items: If you're in a business that caters to the ultrarich, you can expect to be safe, as this type of consumer is likely to have measures in place to weather the recession.
25. Multifaceted Careers: If you don't put all of your eggs in one basket, you should be able to ride out a recession by relying on secondary income. So if you juggle a career that involves a regular job, plus other sources like online income, freelancing and investing, numerous failures have to happen before you're really in trouble.
Although today's job market may be bleak, there are some bright spots if you know where to look. While recessions hit some sectors hard, others go on like clockwork — or even experience growth. So whether you're hunting for a job or still feeling ostensibly secure, now is a good time to evaluate your options and consider one of the aforementioned recession-proof careers.
The original source of this article is HRWorld.com, part of the Focus network of sites.
Tuesday, December 8, 2009
"Define Quality of the Candidate"candidate-quality-can-be-defined
What makes a good candidate different from a bad one? What defines a high quality candidate? I can’t count the conversations I have had with recruiters on these questions, and few have had answers.
For as long as I can remember, recruiters have focused on cost as the primary measure of their effectiveness and value to the organization. The most popular recruiting metric has been cost-per-hire, and recruiting functions justify their existence by showing how much less expensive they are than an outsourced solution.
This, however, has begun to change.
Even though we are in a recession, skilled talent is hard to find, and demographic projections indicate a long-term swing toward a candidate-driven market. If you are in Europe or recruit for European operations, the aging workforce and the lack of fresh, skilled talent has to be a major concern.
Positions are open longer and hiring managers ask for more resumes to review, not being satisfied with those recruiters provide. There may be hundreds of candidates on the job market at the moment, but managers are still frustrated at the inability of their internal recruiters to find what they consider quality talent. The most important metrics today are those of speed and quality. The best recruiters are measured on how quickly they present candidates and on the quality of those candidates.
In many organizations, outsourcing decisions are being made on these metrics, not on cost. Managers are finding that having a good employee when they need one is much more important than how much it costs to get him or her.
But one hurdle looms over all of this. That hurdle is to define what we mean when we say that one candidate is “better” than another. How do recruiters and hiring managers define quality? Who defines it? And how can it be tracked? These are the tough questions that need answers.
Quality can be defined and here are a few ideas on how to do it. The only caveat is that this process has to be dome for each type of position in your organization.
Number 1: Establish specific competencies or traits that equal quality in the minds of your hiring managers and use it to assess candidates
Most hiring managers do not have any definition of a “quality employee.” Some managers say that they know a quality employee when they have one, but they struggle with a hard definition.
A recruiter’s job is to help them create that definition. The place to start is to unravel the skills, competencies, and traits of the best performers. Unravel the ones that really differentiate average and superior employees and make a list of those. A list should be short and clear, with levels of accomplishment included. It might look something like the diagram you see with this article. I usually try very hard to keep the list to two key items per topic.
It may also be very useful to look at the worst performers and see what it is they don’t have. By listing the characteristics that are common to both the best and the worst employees in a function, you will begin to develop a profile that can eventually be used for selection, performance management, and development. These characteristics could be traits such as willingness to compromise, an open attitude toward new ideas, or frugality in business dealings. Or they could be competencies such as the ability to create spreadsheets in a certain time, or the capability of editing complex documents. And they can also include a level of knowledge such as expert-level knowledge of Unix or of a manufacturing process.
Most likely any definitions of quality would include elements from each of these categories. Notice that these are all output-based measures — in other words, measures that can be seen or demonstrated in the work an employee does. They are the opposite of input-based measures such as length of experience or level of education. These types of measures tell you very little about the quality of a person’s performance.
You may need to partner with your internal organizational development group or with your training department to do this. It does take time and it takes willing managers to partner with you in the process. The result, though, will be a much clearer understanding of what kinds of people need to be sourced and hired.
Number 2: Educate hiring managers
Very few hiring managers know much about selection or about what it takes to assess a candidate. Even though you may have put all the managers though some sort of interview training, I am sure they have forgotten most of it and have used it less. Most of us are not disciplined nor can we expect the typical manager to become expert with these techniques. One area where recruiters can add value is to pre-screen and evaluate candidates against the criteria that you developed above. These criteria, remember, should have been determined in partnership with the managers. Each of you can use lists of these and behavioral interview questions or a variety of tests can be developed and used to measure these traits, competencies, and knowledge. Managers can help you determine how to weight the criteria, and they should be well aware of the consequences of using the criteria.
You can spend small amounts of time over a few weeks presenting bits of this information and moving the managers to understanding and acceptance. If you can, you could also hold seminars and use case studies and examples from your own organization to help managers understand how important it is to select people with the right skills and the right organizational fit and attitude.
Number 3: Investigate and experiment with new tools for screening and selection
It is still a bit surprising to me that very few firms are taking advantage of the many online tools that are emerging to help screen candidates before investing a large amount of time in interviews. By using the Internet and your corporate website, you can ask candidates to engage in a dialogue and mutual assessment process. While you are looking at their skills and fit, they can be looking at your organization and can make decisions on whether or not they like what they see. Many people I have spoken with have seen one side of an organization while interviewing, and another less attractive one after they are hired. There is still value in letting candidates email other employees for information about the company and work-life. There is a need for job previews and better job descriptions that are based on reality, not what we wish were true.
By defining up front what constitutes a quality candidate, you can remove much of the present frustration candidates have over why they were not chosen for an interview, and you can also reduce the number of unqualified candidates who apply. Many do so because they do not know or understand your definition of quality.
By working with hiring managers, getting them to write down and define for you the competencies and traits of successful employees, and by putting those to use in your screening and interviewing processes, you can improve candidate quality in a measurable way.
by Kevin Wheeler
What makes a good candidate different from a bad one? What defines a high quality candidate? I can’t count the conversations I have had with recruiters on these questions, and few have had answers.
For as long as I can remember, recruiters have focused on cost as the primary measure of their effectiveness and value to the organization. The most popular recruiting metric has been cost-per-hire, and recruiting functions justify their existence by showing how much less expensive they are than an outsourced solution.
This, however, has begun to change.
Even though we are in a recession, skilled talent is hard to find, and demographic projections indicate a long-term swing toward a candidate-driven market. If you are in Europe or recruit for European operations, the aging workforce and the lack of fresh, skilled talent has to be a major concern.
Positions are open longer and hiring managers ask for more resumes to review, not being satisfied with those recruiters provide. There may be hundreds of candidates on the job market at the moment, but managers are still frustrated at the inability of their internal recruiters to find what they consider quality talent. The most important metrics today are those of speed and quality. The best recruiters are measured on how quickly they present candidates and on the quality of those candidates.
In many organizations, outsourcing decisions are being made on these metrics, not on cost. Managers are finding that having a good employee when they need one is much more important than how much it costs to get him or her.
But one hurdle looms over all of this. That hurdle is to define what we mean when we say that one candidate is “better” than another. How do recruiters and hiring managers define quality? Who defines it? And how can it be tracked? These are the tough questions that need answers.
Quality can be defined and here are a few ideas on how to do it. The only caveat is that this process has to be dome for each type of position in your organization.
Number 1: Establish specific competencies or traits that equal quality in the minds of your hiring managers and use it to assess candidates
Most hiring managers do not have any definition of a “quality employee.” Some managers say that they know a quality employee when they have one, but they struggle with a hard definition.
A recruiter’s job is to help them create that definition. The place to start is to unravel the skills, competencies, and traits of the best performers. Unravel the ones that really differentiate average and superior employees and make a list of those. A list should be short and clear, with levels of accomplishment included. It might look something like the diagram you see with this article. I usually try very hard to keep the list to two key items per topic.
It may also be very useful to look at the worst performers and see what it is they don’t have. By listing the characteristics that are common to both the best and the worst employees in a function, you will begin to develop a profile that can eventually be used for selection, performance management, and development. These characteristics could be traits such as willingness to compromise, an open attitude toward new ideas, or frugality in business dealings. Or they could be competencies such as the ability to create spreadsheets in a certain time, or the capability of editing complex documents. And they can also include a level of knowledge such as expert-level knowledge of Unix or of a manufacturing process.
Most likely any definitions of quality would include elements from each of these categories. Notice that these are all output-based measures — in other words, measures that can be seen or demonstrated in the work an employee does. They are the opposite of input-based measures such as length of experience or level of education. These types of measures tell you very little about the quality of a person’s performance.
You may need to partner with your internal organizational development group or with your training department to do this. It does take time and it takes willing managers to partner with you in the process. The result, though, will be a much clearer understanding of what kinds of people need to be sourced and hired.
Number 2: Educate hiring managers
Very few hiring managers know much about selection or about what it takes to assess a candidate. Even though you may have put all the managers though some sort of interview training, I am sure they have forgotten most of it and have used it less. Most of us are not disciplined nor can we expect the typical manager to become expert with these techniques. One area where recruiters can add value is to pre-screen and evaluate candidates against the criteria that you developed above. These criteria, remember, should have been determined in partnership with the managers. Each of you can use lists of these and behavioral interview questions or a variety of tests can be developed and used to measure these traits, competencies, and knowledge. Managers can help you determine how to weight the criteria, and they should be well aware of the consequences of using the criteria.
You can spend small amounts of time over a few weeks presenting bits of this information and moving the managers to understanding and acceptance. If you can, you could also hold seminars and use case studies and examples from your own organization to help managers understand how important it is to select people with the right skills and the right organizational fit and attitude.
Number 3: Investigate and experiment with new tools for screening and selection
It is still a bit surprising to me that very few firms are taking advantage of the many online tools that are emerging to help screen candidates before investing a large amount of time in interviews. By using the Internet and your corporate website, you can ask candidates to engage in a dialogue and mutual assessment process. While you are looking at their skills and fit, they can be looking at your organization and can make decisions on whether or not they like what they see. Many people I have spoken with have seen one side of an organization while interviewing, and another less attractive one after they are hired. There is still value in letting candidates email other employees for information about the company and work-life. There is a need for job previews and better job descriptions that are based on reality, not what we wish were true.
By defining up front what constitutes a quality candidate, you can remove much of the present frustration candidates have over why they were not chosen for an interview, and you can also reduce the number of unqualified candidates who apply. Many do so because they do not know or understand your definition of quality.
By working with hiring managers, getting them to write down and define for you the competencies and traits of successful employees, and by putting those to use in your screening and interviewing processes, you can improve candidate quality in a measurable way.
by Kevin Wheeler
"Stand out. But Fit in.."
Its very simple (though not easy) to embark on a journey of learning. All you need to do is to ask certain questions and answer them honestly. Sometimes, its not the questions you ask, but the ones you failed to ask will determine your life... If it is so, then lets better start understanding what questions we should not miss asking ourselves every single day to keep on track.
Let's see where we stand now, with these 10 questions. Answer only YES or NO.
1. I spend most of my day doing what others want me to do.
2. I work on fun or pleasant taskes before doing the unpleasant ones.
3. I wait until a deadline is near before really getting to work.
4. I give a high priority to those tasks that will advance my personal goals.
5. I tackle jobs that can be completed in a short time before working on larger - longer tasks.
6. I do the work which I have planned before doing the unexpected.
7. I tackle the small jobs before embarking on bigger ones.
8. I work on a squeaky-wheel principle. The task that "makes the most noise" worked on first.
9. I wait to be told what to do first.
10. I regularly think about how I am expending my efforts relative to my personal goals.
YES to 1-3-8-9 is Reactive to outside . These people will do well if they select great bosses who believe in mentoring and have patience to train and develop.
YES to 2-5-7 is Mistaken Priorities. These people, most of the time act before thinking. Need a conforming boss to succeed.
YES to 4-6-10 is Proactive. These people know what they do and more importantly, Why they do. They possess ownership and take responsibility. They go places only if they work with non-conforming, facilitating and non-interfering bosses.
This is only a broad classification of people and no one is superior or inferior. A reactive person can end up learning and implementing better than a proactive person - given a condition of right Guru / Mentor and both of them have mistaken priorities.
Its very simple (though not easy) to embark on a journey of learning. All you need to do is to ask certain questions and answer them honestly. Sometimes, its not the questions you ask, but the ones you failed to ask will determine your life... If it is so, then lets better start understanding what questions we should not miss asking ourselves every single day to keep on track.
Let's see where we stand now, with these 10 questions. Answer only YES or NO.
1. I spend most of my day doing what others want me to do.
2. I work on fun or pleasant taskes before doing the unpleasant ones.
3. I wait until a deadline is near before really getting to work.
4. I give a high priority to those tasks that will advance my personal goals.
5. I tackle jobs that can be completed in a short time before working on larger - longer tasks.
6. I do the work which I have planned before doing the unexpected.
7. I tackle the small jobs before embarking on bigger ones.
8. I work on a squeaky-wheel principle. The task that "makes the most noise" worked on first.
9. I wait to be told what to do first.
10. I regularly think about how I am expending my efforts relative to my personal goals.
YES to 1-3-8-9 is Reactive to outside . These people will do well if they select great bosses who believe in mentoring and have patience to train and develop.
YES to 2-5-7 is Mistaken Priorities. These people, most of the time act before thinking. Need a conforming boss to succeed.
YES to 4-6-10 is Proactive. These people know what they do and more importantly, Why they do. They possess ownership and take responsibility. They go places only if they work with non-conforming, facilitating and non-interfering bosses.
This is only a broad classification of people and no one is superior or inferior. A reactive person can end up learning and implementing better than a proactive person - given a condition of right Guru / Mentor and both of them have mistaken priorities.
Monday, December 7, 2009
THE MAGIC WORD - ASK
It seems that the everyday miracle has come to stay with me.
Life is nothing but a repetition of everyday miracles.
One friend spoke about the right salary and how to logically prove what you ask for so that you end up getting what you want........... looks very simple though not easy.
What made us debate for a very long time was the logics behind it . What's that? I checked the World Book dictionary which says " The branch of philosophy dealing with the principles of reasoning and inferences"........... Oh ! I 'm confused now. I thought I knew logics and bragged myself logical at times. Now what is philosophy then? Am I philosophical or logical? It also says that logics is The Science of proof: logic is not the science of belief, but of proof or evidence.
Consider this syllogism " All men are mortal. Socrates is a man, therefore Socrates is mortal,".................. expressions like The logic of Taste, The logic of his argument etc come under this topic.
I searched for the meaning of philosophy. Quite interesting! " The study of the Truth or Principles of all real knowledge; study of the most general causes and principles of the universe."
So coming back proving your salary to an HR manager - logically is not easy unless we understand logics ( how to present logically) and the philosophy (Truth)behind the recruitment and the cost involved therein.
Let me take you a little beyond. They say that there is a difference between wishing for a thing and being ready to receive it. Beethovan was deaf, Milton was blind, Helen keller became deaf, dumb & blind soon afetr birth............................... Are you thinking? Any sound sense or logic or reason behind Beethovan becoming the greatest musician or Helen Keller's sense of 'seeing', 'listening' or 'talking to the world and understanding problems of people who were much better than herself - illogical ( Tell me something I can believe yaar - Dont try to goof me) . Anybody with just one eye alone was better than her. Isn't he?
Now, look at 2 state of minds.
1) Logical ( can be proved and evidence shown)
2) Illogical (cannot be proved - at least now).
Logic is Closed ( arrived) and Illogical is Open( not yet arrived);
Logic is conforming and Illogical is non-conforming;
Logic is limiting( cannot look beyond) whereas illogica is unlimited( many possibilities) etc etc.
When your mind is OPEN, there is something that happens............... it resonates with the natural forces or scientifically, it alligns itself with natural wavelengths. Belief is one such allignment which is diagionally opposite to logic. Logics depend on Belief and not vice versa.
"If your mind can believe, it can achieve." - Nepolean Hill
I am yet to get a quote on logic...... sorry; from any great achievers!
Belief changes Behavior and hence everything organically. Logic cant effect behavior and hence cannot effect actions for organic development.
Confused?................. Ok. Let me wrap up saying that if you have been logically finding out next job or how to negotiate for 40% hike in your next job, more often that you will miss them. The way is to find the passion and that burning desire/fire in the belly/ butterflies in your stomach/ that bring you logics.
It seems that the everyday miracle has come to stay with me.
Life is nothing but a repetition of everyday miracles.
One friend spoke about the right salary and how to logically prove what you ask for so that you end up getting what you want........... looks very simple though not easy.
What made us debate for a very long time was the logics behind it . What's that? I checked the World Book dictionary which says " The branch of philosophy dealing with the principles of reasoning and inferences"........... Oh ! I 'm confused now. I thought I knew logics and bragged myself logical at times. Now what is philosophy then? Am I philosophical or logical? It also says that logics is The Science of proof: logic is not the science of belief, but of proof or evidence.
Consider this syllogism " All men are mortal. Socrates is a man, therefore Socrates is mortal,".................. expressions like The logic of Taste, The logic of his argument etc come under this topic.
I searched for the meaning of philosophy. Quite interesting! " The study of the Truth or Principles of all real knowledge; study of the most general causes and principles of the universe."
So coming back proving your salary to an HR manager - logically is not easy unless we understand logics ( how to present logically) and the philosophy (Truth)behind the recruitment and the cost involved therein.
Let me take you a little beyond. They say that there is a difference between wishing for a thing and being ready to receive it. Beethovan was deaf, Milton was blind, Helen keller became deaf, dumb & blind soon afetr birth............................... Are you thinking? Any sound sense or logic or reason behind Beethovan becoming the greatest musician or Helen Keller's sense of 'seeing', 'listening' or 'talking to the world and understanding problems of people who were much better than herself - illogical ( Tell me something I can believe yaar - Dont try to goof me) . Anybody with just one eye alone was better than her. Isn't he?
Now, look at 2 state of minds.
1) Logical ( can be proved and evidence shown)
2) Illogical (cannot be proved - at least now).
Logic is Closed ( arrived) and Illogical is Open( not yet arrived);
Logic is conforming and Illogical is non-conforming;
Logic is limiting( cannot look beyond) whereas illogica is unlimited( many possibilities) etc etc.
When your mind is OPEN, there is something that happens............... it resonates with the natural forces or scientifically, it alligns itself with natural wavelengths. Belief is one such allignment which is diagionally opposite to logic. Logics depend on Belief and not vice versa.
"If your mind can believe, it can achieve." - Nepolean Hill
I am yet to get a quote on logic...... sorry; from any great achievers!
Belief changes Behavior and hence everything organically. Logic cant effect behavior and hence cannot effect actions for organic development.
Confused?................. Ok. Let me wrap up saying that if you have been logically finding out next job or how to negotiate for 40% hike in your next job, more often that you will miss them. The way is to find the passion and that burning desire/fire in the belly/ butterflies in your stomach/ that bring you logics.
I bargained with life for a penny,
And life would pay no more,
However I begged at evening
When I counted my scanty store.
For life is just an employer,
He gives you what you ASK,
But once you have set the wages,
Why, you must bear the task.
I work for a menial's hire,
Only to learn, dismayed
That any wage I asked of life,
Life would have willingly paid.
Remember, no more effort is required to aim high in life, to demand abundance and and prosperity than is required to accept misery and poverty.
So................................. are you a better negotiator now?
" An Everyday Miracle"
Its been very long since I wrote something here..... Hm..... busy? yes and no. I was trying to improve my blog on its look and feel and trying to compile articles that are required to be posted when you ask for.
I learn a lot serendipitously - looking for something and finding out something else. And these days end up only searching.Remember those cleaning days when we want to throw away an old newspaper and suddenly we find an article we searched for & went mad? Not exactly, but I stumbled upon one of my earliest collections of what it proclaimed as AN EVERY DAY MIRACLE.
I want you to READ it well.
An Everyday Miracle
One of the routine activites I do which doesn't call for any of my voluntary senses (and forget intelligent anyways) is taking breakfast to my daughter at 9.30 am everyday. Her school begins at 7am you know and is just 200 mts from my house. How lucky am I ? ..........There are 2 ways to reach the school - same distance.
The everyday miracle put my brain into intense comtemplation about reading as seeing and sensing so I was on my senses that day and was trying to see things, hence I consiously took the other route when I read an business board( which I was searching my city for some 2 months) that was visible if you go from one side only. And I never saw those landmarks while coming back because of the angle of vision.
Two days have elapsed and I am still alert to read any monotony that droops me.
Reading, is it not a habit of thinking also? As I started reading my business, I SEE opportunities.
Wow! What a phenomenon sirji?
An amazing one.
Its been very long since I wrote something here..... Hm..... busy? yes and no. I was trying to improve my blog on its look and feel and trying to compile articles that are required to be posted when you ask for.
I learn a lot serendipitously - looking for something and finding out something else. And these days end up only searching.Remember those cleaning days when we want to throw away an old newspaper and suddenly we find an article we searched for & went mad? Not exactly, but I stumbled upon one of my earliest collections of what it proclaimed as AN EVERY DAY MIRACLE.
I want you to READ it well.
An Everyday Miracle
Life is just a matter of continuation and repetition. Isn't it? An interesting outcome of this incredibel chain of events happened not so late after my so called reading.Isn't it amazing how we take them for granted, those little black marks on paper!
Twenty six different shapes known as letters, arranged in endless combinations known as words.
Lifeless, until someone's eye falls on them.
But then the Miracle happens. Along the optic nerve, almost at the speed of light, these tiny symbols are flashed to the brain, where they are instantly decoded into ideas, images, videos, concepts, meanings.
The eye's owner is changed too. The little black mark can make him love or hate , laugh or cry, fight or run away.
And..... What do we call this incredible chain of events? ......... READING.
One of the routine activites I do which doesn't call for any of my voluntary senses (and forget intelligent anyways) is taking breakfast to my daughter at 9.30 am everyday. Her school begins at 7am you know and is just 200 mts from my house. How lucky am I ? ..........There are 2 ways to reach the school - same distance.
The everyday miracle put my brain into intense comtemplation about reading as seeing and sensing so I was on my senses that day and was trying to see things, hence I consiously took the other route when I read an business board( which I was searching my city for some 2 months) that was visible if you go from one side only. And I never saw those landmarks while coming back because of the angle of vision.
Two days have elapsed and I am still alert to read any monotony that droops me.
Reading, is it not a habit of thinking also? As I started reading my business, I SEE opportunities.
Wow! What a phenomenon sirji?
An amazing one.
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