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Are Universities Worth It All?

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It is often discussed among employers and business leaders alike about the existing gap between what students learn at universities and what they are actually expected to know and handle in order to be ready to perform at a good level. This issue has become especially alarming given the fact that the numbers of people graduating — and it is still growing — from university: over 40% in countries that are part of Organisation for Economic Co-operation and Development, and close to 50% in the United States.

It has become clear that even though there higher education has become a more premium feature in today’s society a recent study done The Economist has unravelled that the return on investment (ROI) of a university degree has never been higher for graduates, thus it can be concluded that the value added from a university degree diminishes as the number of graduates continuously rises.

For example, in the area of sub-saharan Africa, where degrees are comparatively rare, a university degree will boost salaries by over 20%, which, by contrast, in the Nordic Countries earnings are boosted by only 9%, where 40% of adults have degrees. Furthermore, as more and more people obtain university qualifications they have become the norm and recruiters and employers will demand them more and more, disregarding the simple fact that they are required for a specific job. It can be concluded that even though degrees can lead to higher earnings, the same employers are damaging the graduates’ mindset and themselves by limiting the candidate strictly to university degree holders. In this modern age of technological advancements and such a constant flow of information, it is difficult to demonstrate that the acquisition of knowledge historically associated to a degree is still relevant in this day and age.

In the meantime, companies are becoming more observant to what they are required to offer in order to attract and retain their best employees, those employees who have a high potential in order to keep their companies competitive and with an extremely agile workforce.

There is a debate amongst people that universities prepare young people from a social point of view. Whilst university, people have the chance to learn how to deal with different types of people and personalities helping them develop in a more complex manner. This can happen due to a couple of reasons:

  • No more direct involvement from parents
  • Young people learn to adapt, they mature mentally, slowly becoming more independent and learn to take care of themselves.

However, the aforementioned arguments do not stand as firmly as one might think. Normally, people attend university from 18 to 22 or 23 years old. In those years, students start to mature naturally due to the simple fact that they are aging. Furthermore, people tend to learn a lot at work by engaging in various work-related activities. Nobody is denying the fact that young adults mature during their university years, but they could do so by being out into the real world, independent from university. Perhaps, the process of maturing would have been greatly accelerated.

It must be taken into account as well; the ever-rising costs of university fees and not everybody could have had access to a higher education, prior to just a few years ago. Nowadays, there are a lot of free online courses which are available to the general public which can level the playing field when it comes to getting a higher paying job. However, it must be taken into consideration that recruiters and employers alike have not started warming up to the idea of online-educated people being ready to enter the workforce.

Whichever way you wish to look at things, the university learning system is simply not scalable, it is not possible. Some universities have more financial resources to help educate their students; some universities have better professors who offer a very unique style of information and the absorption of it; plus there is the other end of the spectre where you have poorly financed universities and professors who have lost their motivation to teach, to educate the young and fairly impressionable minds they have in their class. This leads to digital learning, which, for better or worse, can be scaled to some extent. It is available to everyone; there are no hidden side notes or comments that can sway the mind to go in one direction or the other, so we have to ask ourselves, how we measure the purposefulness and route through which we obtain knowledge.

This is not to say that institutionalised education is fruitless. It does offer people the chance to expand their intellectual selves, develop new skills, and discover things, people or places otherwise hardly talked about.

Whether people like it or not, profits are the main concern of almost every business in the world. Capitalism, for all its benefits, has its flaws and this is one of them. Universities themselves have begun their hunt for profits and the interest of the student has become secondary. These institutions also view their graduates’ futures quite differently from what is happening today in the world. Universities are preparing students not so much for their jobs in their respective industries but more in the area of future drastic changes, changes that may happen decades from now. Due to this type of preparation it has caused a lot of disruption in today’s workforce, given the fact that graduates not only opt to change employers but also careers entirely.

Graduates nowadays have a tendency to seek options left and right, leading to a lot of movement in the job market either being from a larger to a smaller company or vice versa, non-profit and profit, completely different industries altogether. This current generation of young adults don’t even like the word ‘career’ because it simply implies commitment to just one path for the rest of their lives. There are a lot of things universities can be better at and, to be fair, introspection does not sound that dreadful.

There is a real value in providing companies with the tools to carry out regular organisational assessments and this is where Great People Inside comes to your aid. Our online platform offers the best solutions and tools for your company to thrive in every type of industry and any possible situation your organisation may find itself. In terms of lowering your employee turnover rates, we recommend our GR8 Full Spectrum assessment for hiring and 360° Survey for retention. Finding the right talent, the best fit for the job and your organisation can be a very challenging task. It requires deep knowledge of your own organisation’s culture and a keen understanding of the candidate’s personality, strengths, interests, work style and other characteristics. Our technology and solutions will do the work for you, helping you find employees who can flourish and reach the highest performance required to constantly bring your company forward.

Request a free demo:

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Sources:

https://www.chronicle.com/article/Colleges-Say-They-Prepare/244376

https://www.forbes.com/sites/quora/2017/09/09/does-college-prepare-students-for-the-real-world/#49c0cc3a42df

https://hbr.org/2019/01/does-higher-education-still-prepare-people-for-jobs

Employee Loneliness and its Impact on Organisations

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Loneliness is a painful and complex emotion. Loneliness has more to do with a person’s quality of social relationships rather than their quantity.

Loneliness has been studied for decades in psychological literature when it comes to social or personal lives. But how much research is there on being lonely in the workplace? Not a lot, which comes as no surprise.  As awareness about loneliness increases — British Prime Minister Teresa May appointed a minister for loneliness earlier this year, it’s important to understand exactly how people experience loneliness in their jobs. How does it affect their work? How does it shape their relationships with their colleagues? And what can employers or HR departments do to help a lonely employee?

In general, it was discovered that lonely employees tend to isolate themselves, they begin to feel less connected to their organisation’s values, and can be seen by colleagues as more distant and less inclined in discussing both work-related and personal matters.  These findings add to the voluminous research literature showing that the behaviour of lonely people has the effect of increasing their own loneliness. Even though the person may desperately wish to connect or re-connect with others, they see their environment has become threatening. Thus perpetuating a vicious cycle where loneliness leads to greater social vigilance. As a result, lonelier people are more likely to pull away.

In a research study conducted by California State University and the Wharton School of Business which has surveyed 672 employees and their 114 supervisors from 143 work team units have found that “an employee’s work loneliness triggers emotional withdrawal from their organization, as reflected their increased surface acting and reduced affective commitment.” and “The results also show that co-workers can recognize this loneliness and see it hindering team member effectiveness.”  Researchers have concluded that”…management should not treat work loneliness as a private problem that needs to be individually resolved by employees who experience this emotion; but rather should consider it as an organizational problem that needs to be addressed both for the employees’ sake and that of the organization.”

The company’s culture plays a crucial role in expressing the values and norms about the emotions that are allowed to be expressed at work. In our study, we found that a stronger versus a weaker emotional culture of sharing love (e.g. expressions of affection and compassion among employees) diminishes the negative relationship between workplace loneliness and affective commitment to the organisation.

Look for reasons to show your appreciation

Global research shows that people who feel appreciated are most likely to produce the best work. Let people know their value to the organisation, the culture, the team, and to you, as a manager or employer.

If you think workplace loneliness isn’t an issue you need to be concerned about then think again. Healthy workplace relationships are beneficial for employees in many ways. They help people to deal with work-related frustrations and stress, whilst simultaneously encouraging bonding through sharing successes and positive experiences.

However, it seems that employees are getting lonelier and lonelier. Despite the rise in popularity of open-plan offices specially designed to foster interaction and good communication, a recent UK-based study done by Totaljobs found that more than one-third of employees report having no strong relationships at work. As people spend close to a quarter of their lives at work, job isolation can have serious and very complex implications.

The case of cultural fit

If most people in an organisation or team share similar attitudes and personality traits, a person who differs in these respects may start to feel isolated and will struggle to bond with colleagues or even have a sense of belonging.

Another aspect of organisational culture that can prevent employees from forming relationships is represented by the lack of ‘psychological safety’; a quintessential element for effective teamwork. In companies or teams that do not meet the necessary psychological safe requirements, team members do not feel swayed to take social risks, such as revealing emotions, for fear of disapproval by colleagues.

In teams or organisations where a ‘openness’  isn’t promoted or associated with psychological safety, the potential for building relationships tends to be limited; employees are likely to keep to themselves, restricting how much they reveal about themselves to their colleagues.

What can be done to prevent workplace loneliness?

So, knowing what we do about workplace loneliness, what can be done to prevent and reduce it? There are numerous steps that can be taken by employers and employees.

A key approach is for employers to focus on hiring for culture fit. By assessing the fit between candidates’ personality characteristics and the organisational culture, employers can minimise the risk of hiring those who are going to struggle to fit within the company.

Finally, employers can also help to promote workplace relationships through various teambuilding exercises or adopting a transformational leadership style that is based on interpersonal trust. Of course, employees themselves can have a huge impact on loneliness through day-to-day interactions with one another. Unfortunately, is often difficult for employees to open up to colleagues about loneliness, for fear of the admission being met with ridicule and isolation. It is therefore important for employees to help identify any colleagues that may be struggling at building lasting relationships with other members of the team.

Finally, employees should contact their employers or managers if they have any suggestions for improving relationship-building, which in turn will lead to a tremendous increase in employee well-being and productivity.

There is a real value in providing companies with the tools to carry out regular organisational assessments and this is where Great People Inside comes to your aid. Our online platform offers the best solutions and tools for your company to thrive in every type of industry and any possible situation your organisation may find itself. In terms of lowering your employee turnover rates, we recommend our GR8 Full Spectrum assessment for hiring and 360° Survey for retention. Finding the right talent, the best fit for the job and your organisation can be a very challenging task. It requires deep knowledge of your own organisation’s culture and a keen understanding of the candidate’s personality, strengths, interests, work style and other characteristics. Our technology and solutions will do the work for you, helping you find employees who can flourish and reach the highest performance required to constantly bring your company forward.

Request a free demo:

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Sources:

https://good.co/understanding-workplace-loneliness/

https://www.inc.com/todd-nordstrom/feeling-lonely-at-work-it-could-be-destroying-your-potential-heres-what-to-do-about-it.html

https://hbr.org/2018/04/the-painful-cycle-of-employee-loneliness-and-how-it-hurts-companies/

 

Stupid Questions: Benefits and Importance

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Carl Sagan has once stated that: “There are naïve questions, tedious questions, ill-phrased questions, questions put after inadequate self-criticism. But every question is a cry to understand the world. There is no such thing as a dumb question.”

How exactly can we define an imbecilic inquisition? More often than not people who ask this ‘sort’ of questions are viewed with a deliberate display of ignorance by a supposedly more intelligent being. Do questions become invalid when they are addressed by patients with mental disabilities? The answer is different from one person to another.

Throughout our lives, the perception of what represents a ‘good’ question may vary. Our teachers and professors have always encouraged smart thinking. However, how can we make smart inquiries if we do not even have the answers even to the simplest of questions? When children are incapable of differentiating between a simple question and a stupid one, they automatically develop the habit of self-censorship and, if not addressed, may transform into complete censorship. Due to this self-imposed censorship, we deprive ourselves of information and we leave all of our doubts unresolved.

We have to accept the idea that questions are questions and nothing else even though sometimes they may seem shrewd or silly. Questions enable us to ‘fuel’ our brain and boost our own reasoning and understanding. If we manage to get off the concept of ‘stupid questions’ early on in our lives, maybe we would see less and less silence during Q&As. Failure doing so will result in a generation without questions, without a voice and worst of all without any judgement.

It is recommended to allow ourselves and others as well to ask stupid questions, because, from a business point of view, they more often than not lead to out of the box ideas.

During the final stages of an interview, people may ask questions so this represents the perfect opportunity to ask how the business does things, due to the simple fact that you are ‘new entry’ and do not know anything. Interviewers should not judge, but actually, encourage candidates to ask as many questions as possible.

Unfortunately, as we grow and develop our ideas more and more we fall into the habit of not asking simple questions because of this transition from little knowledge to a vast amount of it, and when we have reached that stage in our lives when we’re supposed to be informed we stop asking the straightforward questions because you may think people will get the impression you do not really understand what your job consists of.

Ironically, these basic questions will help you improve your work rate and performance over time so it is crucial you don’t stop being curious. Doesn’t it make more sense to ask why in order to fully comprehend what is the motive for doing what you have been asked to?

Understandably, people tend to fall into the routine of their work, but actually, it’s important to question why for the most menial of tasks, because you don’t know where a question may lead you.

Basically, the principle is the same as watching customers using your product for the first time, because, in doing so, they will see things differently than you and the team behind it. A similar example would be when an external consultant has come to the workplace and starts to assess departments and find key areas where there is room for improvement.

Of course, people are generally afraid to ask stupid questions due to peer pressure. Furthermore, they may also lack the necessary self-confidence. Whatever the case may be, not asking simple questions can leave everyone missing out on your ideas and contribution as a team player. Below, you will find a few reasons to start asking questions.

1. Becoming more Open-minded

When someone asks a ‘dumb’ question, they acknowledge and accept the fact that they don’t have all the possible answers. In a way, they reveal that they don’t know everything, thus they start being regarded more open to being questioned. People who ask questions appear more approachable and authentic. As an added bonus, there is no air of superiority coming from these people.

By asking ‘stupid’ questions you make sure that you have all the necessary facts and data in order to make decisions with a higher percentage of success. This will transform you into a trustworthy person who inspires confidence.

Consequently, people around you will become more likely to ‘use’ you as a good listener. They will know you will take into consideration their ideas and that you will question them and offer your best and honest suggestions. Leaders value open and honest people.

2. A Broader Vision

Asking ‘stupid’ questions can lead to creative and out-of-the-box solutions to our many problems. A crazy wild idea or question may be totally off the charts but may inspire someone else to come up with something brilliant. They may find a solution perhaps not as eccentric as yours, but nonetheless, a solution that solves the issue one way or another.

When you have a vision or an idea for something you start to imagine what that might be. The second part of the vision is represented by the contingency plan aka plan B. If people question someone’s plan it should not be viewed as a ‘dumb’ thing to do. It is important to see this as an opportunity to explore various contingency plans.

3. Perception

More often than not the moment when a new process is being set up, people start asking questions about it and it may seem like they are resisting change or in some cases, question someone’s authority. However, blindly following rules and directions is not always a good idea as history offers us good examples. The organisation may suffer getting the expected results and not because the change itself was a bad one, but simply because the people who are implementing the change didn’t understand why they were doing it.

When employees blindly accept to follow a new initiative for a project there can be a damaging lack of clarity in terms of direction and motivation. Our brains are wired to take the path of least resistance which more often than not leads to peril. By getting ourselves rid of the fear of questioning and actually dare to ask the so-called ‘dumb’ questions we may ensure that we are all focused and on the same path.

There is a real value in providing companies with the tools to carry out regular organisational assessments and this is where Great People Inside comes to your aid. Our online platform offers the best solutions and tools for your company to thrive in every type of industry and any possible situation your organisation may find itself. In terms of lowering your employee turnover rates, we recommend our GR8 Full Spectrum assessment for hiring and 360° Survey for retention. Finding the right talent, the best fit for the job and your organisation can be a very challenging task. It requires deep knowledge of your own organisation’s culture and a keen understanding of the candidate’s personality, strengths, interests, work style and other characteristics. Our technology and solutions will do the work for you, helping you find employees who can flourish and reach the highest performance required to constantly bring your company forward.

Request a free demo:

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Sources:

 

https://medium.com/@rjd203/the-importance-of-asking-stupid-questions-e96ba6d9551c

https://nptribune.com/?p=931

https://networkingtimes.com/blog/2016/03/15/6-benefits-to-asking-dumb-questions/

Bad Employees and their Toxic Effects

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The saying goes that one bad apple can ruin the whole bunch. Interestingly enough, it is the same with employees. The effects of bad employees or ‘hurricane’ employees, as they are also known, can be visible in companies of any size and industry.  Even though this type of person initially impresses in the interview phase, underperforming employees now represent a serious threat to your business.

But just how dangerous are these employees? Well, given the 2013 CareerBuilder survey done on 6,000 hiring managers and HR professionals, it has been discovered that 27% of U.S. employers who had employed a ‘bad apple’, claimed that one bad hire eventually cost their business more than $50,000. This is a financial strain no business should bear. Additionally, the majority of businesses have more than just one bad employee in their ranks.

Recent research done on how contagious ‘hurricane’ employees can be, has revealed that even the most ethical of employees may begin embracing misconduct if they work alongside a dishonest individual for too long. It may be nice to think that the honest employees would instil some moral values into the dishonest employees, that is rarely the case.

For managers and executives, it is extremely important to realise that the money involving an underperformer go far beyond the effects it has on that particular employee– bad behaviour can easily ‘spill over’ into the minds of the other employees through basic peer effect. If organisations choose to under-appreciate the consequences of these spill-overs, a few ill-mannered employees can infect any strong corporate culture.

Nevertheless, through observing similar behaviour among staff, it does not explain how and why this similarity even occurs. Co-workers could behave similarly because of peer effects – in which workers learn behaviours or social norms from each other – but similar behaviour could arise because co-workers face the same incentives or because individuals prone to making similar choices naturally choose to work together.

Below, you take a look at some of the more hidden ways in which bad employees can hurt businesses, and why it is imperative to let them go in order to reach personal and company goals.

  1. Negative organisational reputation

One of the most destructive ways in which ‘hurricane’ employees can harm organisations is by destroying its reputation. A business’s reputation takes years on end to establish, and, unfortunately, one poor-performance employee may derail all of that hard work for quality products, services, and professionalism.

It goes without saying that unprofessional customer service or products lacking that lack that level of excellence expected from any business could leave clients and customers disgruntled. Furthermore, this makes them associate poor service and bad quality with the brand. A damaged reputation takes years to bounce back from and in some extreme cases, it is irreversible.

  1. Low levels of employee morale

Besides the fact that bad employees hurt a company’s bottom line, they also drive employee morale to worryingly low levels. This may even occur in the best performing employees. In this scenario, the rest of the team has to pick up the pace due to one’s person unproductiveness, which, consequently, causes the top talents to become disengaged, dissatisfied, or even burnout. This may sound eerie but only one member on the team may cause the entire staff to become frustrated, angry and detached, leading, of course, to cohesion and morale issues, extreme defensiveness and, in some particular cases, a tendency to ignore creative ideas.

This is definitely a case in which managers must take the tough decision and remove harmful employees from the office environment in order for the HR department to focus its efforts on finding a team member willing to work hard.

  1. Daily interruptions

‘Hurricane’ employees also have the tendency to refuse thinking for themselves and solve their problems independently which, in turn, causes workflow interruptions for managers and executives alike. Instead of focusing on issues such as performance and engagement, managers are forced to hand-hold the harmful employee through menial daily tasks. The damage this type of person may do is not only contagious, but it often shows in team performance. In a recent study done at the Rotterdam School of Management, has revealed that one negative employee can “literally cause” a 30% to 40% drop in performance levels.

Of course, this leads to losing productivity at management-level as well, because managers are unable to implement new ideas and initiatives due to the constant supervision they have to undertake with the ‘hurricane’ employee. Even though firing someone who isn’t performing at normal standards is an uncomfortable experience altogether, managers have to ask themselves if they are willing to lose professionally due to one individual. The moment when a manager starts to think about what is best for the organisation, the decision will become all the more clear.

By understanding how and why co-workers make similar choices about committing misconduct can steer managers into preventing misconduct. Misconduct is a product of social interaction and given its nature, knowledge and social norms it may be difficult to spot at first. Generally speaking, if managers can achieve the level of understanding required to why co-workers behave in similar ways has enormous implications for understanding how corporate culture is shaped and how managers can help steer it in the right direction.

There is a real value in providing companies with the tools to carry out regular organisational assessments and this is where Great People Inside comes to your aid. Our online platform offers the best solutions and tools for your company to thrive in every type of industry and any possible situation your organisation may find itself. In terms of lowering your employee turnover rates, we recommend our GR8 Full Spectrum assessment for hiring and 360° Survey for retention. Finding the right talent, the best fit for the job and your organisation can be a very challenging task. It requires deep knowledge of your own organisation’s culture and a keen understanding of the candidate’s personality, strengths, interests, work style and other characteristics. Our technology and solutions will do the work for you, helping you find employees who can flourish and reach the highest performance required to constantly bring your company forward.

Request a free demo:

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Sources:

https://www.inc.com/will-yakowicz/one-toxic-employee-will-spoil-whole-bunch.html

https://hbr.org/2018/03/research-how-one-bad-employee-can-corrupt-a-whole-team

http://www.businessinsider.com/4-unexpected-ways-bad-employees-destroy-companies-2016-9

Reducing Employee Turnover

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In the majority of cases, a high employee turnover is not regarded as ideal for a company’s reputation, performance and goals. The costs themselves are high due to the fact that people are leaving, thus leading to numerous hirings and training programs for the constant flow of new employees. If your company has experienced high turnover in recent times, it might be time to think about effective retention strategies.

A high employee turnover is bad for any organisation’s bottom line. It has been estimated that the cost of replacing an employee is nearly double their salary for a year. Morale can also go down if too many people come and go through the office doors.

There are a number of ways in which you can reduce employee turnover and they are not as difficult as you might think. When employees feel their work environment offers them the necessary support for them to achieve their goals that is when they thrive the most.

There are many ways in which you can make your employees feel that their work is appreciated enough so they don’t leave or you are not forced to fire them. Let’s go through these ideas step-by-step:

  1. Flexibility – Work flexibility is all about the possibility of working either from home, a café or even while on vacation, as long as employees have a good internet connection (and that is not hard to find nowadays). People are more motivated to produce great results when they have the opportunity to work in the environment they’re most productive. This idea works best on the new generation i.e. millennials.
  2. Honest job expectations – Many companies suffer from high employee turnover due to the fact that employees are assigned something different from what they have seen in the initial job description. When employees are given responsibilities that do not suit their interests and strengths, their drive to perform goes to ground.
  3. Promote a healthy work-life balance – The work-life balance has become extremely important to employees, but many managers fail to realise that. The managers should take care of their team in order for them to avoid employee burnout. Regular check-ups help, because if you observe something is not right with one of your staff you can give them a day off to decompress. It is key you do not bombard your employees with one too many projects at once.
  4. The possibility of professional growth – It is as clear as day that people are more interested in jobs where professional development is one of the advantages. In order to boost your company’s performance, (internal) growth has to be one of the core principles. Whether we are talking about a promotion or a simple salary raise, this will motivate your employees to achieve the organisation’s goals/objectives. Provide the opportunity for career and personal growth through training and education, challenging assignments and more responsibility. Welfare is important to people, undermining their value and pay would be a fatal mistake. Managers and CEOs should work hand in hand with the HR department in order to devise to most appropriate pay plan possible for their employees.
  5. Finding the best candidate from the beginning – It may seem like a pretty obvious idea, but many companies fail to realise the importance of the recruiting process. Besides the necessary skills any employee should have, try and find out if that person identifies with the company culture and gets along with the co-workers and managers.

This is where Great People Inside comes to your aid. Our online platform offers the best solutions and tools for your company to thrive in every type of industry and any possible situation your organisation may find itself. In terms of lowering your employee turnover rates we recommend our GR8 Full Spectrum assessment for hiring and 360° Survey for retention. Finding the right talent, the best fit for the job and your organisation, can be a very challenging task. It requires deep knowledge of your own organisation’s culture and keen understanding of the candidate’s personality, strengths, interests, work style and other characteristics. Our technology and solutions will do the work for you, helping you find employees who can flourish and reach the highest performance required to constantly bring your company forward.

 

Request a free demo:

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Sources:

Theculture.com

Guides.wsj.com

Thebalance.com

The Effectiveness of High-Potential Employee Programs

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High-potential (HIPO) employees find themselves in the top 5% within an organisation, based on their individual performances. They are considered the company’s most prized assets and are being tipped-off to go into leadership positions. But this is easier said than done. In most cases, organisations develop HIPO programs in order to train their best employees in becoming future leaders.

Although high-potential employee programs might seem like the perfect solution, over 40% of the people participating do not belong there, according to the data analysed by the Harvard Business Review (HBR). The information gathered by HBR consists of 1,964 high potential employees, from 3 distinct companies, who have measured their leadership abilities through 360° assessments. Feedback is immediate, with analysis reports being developed almost instantly. This type of assessment is done when organisations wish to measure capabilities such as low turnover, employee engagement and high productivity. Obviously, the better the score, the better the outcome.

When looking at the data gathered from the participants in the HIPO programs, the results were outlandish. 12% of them found themselves in the lowest quadrant in leadership effectiveness; resulting in an overall 42% below average. They’re not in the top 5% anymore, not by a mile.

What about the quality of the HIPO programs that are running in your company? There are a couple of mistakes that may come along the way in regards to these programs:

  1. Performance doesn’t equal potential: HIPO programs tend to focus too much on performance and that generally leads to problems in today’s ever changing business climate. First of all, most companies do not know how to measure performance given the fact that if subjective ratings are eliminated, there are very few metrics left to count on. Secondly, even if the right parameters are chosen to measure performance, most top performers cannot handle or are simply not prepared for the next level. The transition from being a simple employee to a manager, or from a manager to a leader, requires abilities most people haven’t been trained for before. Plus, there is always the possibility that HIPO employees focus on solving problems or an all-round team player. Unfortunately, this leads to people placed in jobs they are not able or do not want to perform. It is absolutely vital to understand that performance represents what you do and potential is simply what you COULD do. If you are really good at doing X this doesn’t mean you will be great at doing Y – X and Y here being two distinct activities.
  2. HIPO’s have their weaknesses: Here, the Pareto principle fits the bill quite perfectly. If you don’t know what the Pareto principle is, here is the explanation: 20% of employees make up for 80% of the company’s revenues and profits. Based on this idea, it is clear that 20% of employees cause 80% of the problems within an organisation. Coincidentally or not, they are most often than not, the same employees. HIPO personnel, who generally know their worth, are frequently more difficult to manage. Nevertheless, no matter how astute these people are, they tend to have a dark side as well. In this scenario, the HR department has to intervene. Unfortunately, when it does intervene, the focus is on improving their existing qualities which leaves out their other personality problems to roam free. Overworked strengths have a tendency to become weaknesses and that is not good news for any organisation.

It is a well-known fact that a top performer may start having difficulties at his job when he is placed in a leadership role. It is clear he may perform well in one company but he cannot have the same impact and results in another organisation. It all depends on his vision and leadership, and these qualities are not easy to find.

Great People Inside provides easy-to-use tools and processes to attract, assess, match, select, onboard, manage, develop, benchmark and maintain workforces anywhere in the world.

We help you find the right talent, the best fit for the job and your organisation. It requires deep knowledge of your own organisation’s culture and keen understanding of the candidate’s personality, strengths, interests, work style and other characteristics. The GR8 360° tool is excellent at developing managerial competencies, skills and behaviours. When using this assessment, you will find over 50 dimensions that come along with suggestions for future improvement and development. Our technology and solutions will do the work for you, helping you find employees who can flourish and reach the highest performance required to constantly bring your company forward.

 

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Sources:

www.hbr.org

www.dcebglobal.com

www.forbes.com

Productivity vs. Efficiency – What Are the Differences?

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In any given organisation, productivity and efficiency are highly regarded. Most managers and employees get their feedback based on these two factors. But what exactly do we mean when we say productivity or efficiency? Apparently there are some questions around this topic that haven’t been answered yet.

In order to explain the differences between productivity and efficiency, we must first understand what they exactly mean. To put it in simpler terms, we are talking about differences between quantity and quality. It is nearly impossible to obtain 100% quality, while having productivity levels up at maximum. There should be a middle ground in order to optimise your results.

Both productivity and efficiency are absolutely crucial for building a fantastic work ethic. If you manage to learn how to handle both of them and what makes them distinctly important, you and your business will thrive. As a beginner, you may be tempted to focus too much on efficiency and although this isn’t a bad thing to do, understanding the key variables between efficiency and productivity is imperative.

Given the complexity of this issue, insight is required on what these two factors actually are.

Productivity

At its very core, productivity shows you the rate at which products are being developed or a task is being completed.  When you are measuring productivity things get a little more complex than that. You have to take into account whether it’s physical or office work, if the job requires a certain quality factor or the impact a specific industry’s requirements may have on its workers. Nonetheless, productivity is an integral part of any successful company.

Efficiency

Efficiency is all about the comparison between what is really being produced or performed with what can be produced taking into account the same amount of resources, such as: money, time and labour. In simpler terms, efficiency measures whether there is any waste in your company. Depending on the industry you work in, efficiency may be more desirable than productivity, but usually their importance is proportionate.

Efficiency vs. Productivity

Everyone wants to be as productive as possible, but there are always problems of various sorts that keep us from getting the job done. Firstly, don’t waste more time than necessary when completing a task. Try and set your own rhythm and pace and stick to it. Try and write down every step necessary in order to complete a certain task and follow that process religiously. Once you have the whole process set in stone, you will see that the amount of time you require will steadily decrease.

Many people ask if it is possible to be productive and efficient at the same time and the answer is yes. All you have to do is analyse the task at hand and try and find out what it requires more; whether it is quantity or quality.

It all comes down to the importance of the task. As an example, let’s talk about employee enquiries towards the HR department. We all know they must be dealt with in a respectable amount of time. This type of task is considered to be more on the productive side, due to the fact that it is the same process over and over again, with the same forms and documentation that need to be filled out every time. You can finish all the enquiries quickly and with complete certainty that their quality is top notch as long as you deal with them in the correct manner.

With efficiency tasks, most often than not they do not have a precise and by the book approach. These tasks obviously require more time and a high level of due diligence. In this scenario, quality trumps quantity. Of course, every task has a deadline. But if you happen to have the misfortune of dealing with it poorly, it doesn’t necessarily matter too much. You should always work at your full potential, but given the fact that the assignment doesn’t have a methodological way of dealing with it, you have some wiggle room and the possibility to improve it.

As mentioned earlier in the article, it is very important for both productivity and efficiency to be part of your workflow. It provides you with time, expertise and discipline in order to handle distinct assignments. Balancing productivity and efficiency may seem troublesome at first, but once you find it, certain tasks will stop being such a burden on you.

In conclusion, one more idea that is important to remember is this: never sacrifice your work. If you need to do good, solid work then don’t rush it by any means, and when you are looking for quantity don’t get yourself lost in too many details. With this in mind, you can accomplish anything you want. Do the work you have to do the way it was meant to be done and never compromise. It is essential you know and understand the differences between these two practices in order to ensure your work never has to suffer again.

Great People Inside provides easy-to-use tools and processes to attract, assess, match, select, onboard, manage, develop, benchmark and maintain workforces anywhere in the world.

We help you find the right talent, the best fit for the job and your organisation. It requires deep knowledge of your own organisation’s culture and keen understanding of the candidate’s personality, strengths, interests, work style and other characteristics. The GR8 Productivity Gap tool is excellent at showcasing the evolution of any given employee over time. By contrasting two assessments made before and after training, it allows you to analyse both your employees’ development and their involvement in the process as well.

 

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Sources:

www.smallbusiness.chron.com

www.doityourself.com

www.differencebetween.info

www.selfthrive.com

Algorithm vs. Human Instinct

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Everyone wants to have the best people in the right positions. But how exactly can you accomplish this?

This is where HR steps in. Most people underestimate its importance, but studies have shown the great hidden impact that great HR can have on any organisation.

Watson Wyatt surveyed 405 publicly traded companies of all types, posing 72 wide-ranging questions on everything from training to workplace culture to communications. In order to come up with a so-called Human Capital Index (HCI) score for each company, a statistical formula was applied (HCI measures how well an organisation makes use of the ability of an individual to perform. A higher human capital index indicates better management of human capital by the organisation. It is measured on a scale of 100). Then the subject companies were sorted into three HCI-rating categories: low, medium, and high. The companies in the high-HCI group delivered a 103 percent total return to shareholders over a five-year period, compared to 53 percent for low-HCI and 88% for medium-HCI companies.

While psychometric testing and performance prediction have evolved considerably over the past 100 years, their value is often under appreciated. In this article from thepsychologist.bps.org.uk,  two critical lessons from this broad field of research are highlighted. Namely, research on performance prediction has taught us the importance of choosing the right people and using the right tools to do so.

As it is mentioned in the article, selecting the right candidates is an important goal, but we must not forget about the one with equal importance – screening out undesirable candidates. The consequences of choosing the wrong people can be extremely detrimental for the company, as they lead to increased turnover rates, higher recruitment costs, and training expenses, along with lost productivity and decreases in morale among all employees. The high costs associated with replacing poorly performing individuals make it all the more important to identify and select the best performers in the first place.

This is where you have to ask yourselves: on what should I base my decision when selecting a new candidate? Human instinct or a pre-employment assessment system? The thing is – people are very good at identifying what exactly it’s needed for a certain position in their company and at extracting information from the candidates, but they are doing poor at interpreting the results. The analysis made by Harvard Business Review (HBR) on 17 studies of applicant evaluations shows that a simple equation outperforms human decisions by at least 25%. This is valid for any situation with a large number of candidates – no matter if the job is on the front line, middle management, or in the C-suite.

There are also several other benefits to the company that an employment evaluation system can bring. It provides leaders with valuable information not only about their candidates, but also about their existing employees. This helps you identify their development needs and their strongest abilities, which you can improve, based on the given feedback.

This doesn’t mean that you should completely remove the human judgment from the equation.

A great way to make the best decisions would be to use exclusively the assessment systems in order to narrow down the number of possible candidates to only a few before you involve any human judgment. Afterwards, you can make the final decision by consulting with the managers that you trust the most.

In order for the assessments to be successful, there are certain rules that must be respected:

  • Understanding the importance of the assessment process and it’s role in identifying the performance levels can lead to the success or failure of the process
  • Respecting the methodology suggested and agreed upon by the company leads to maintaining the objectivity, regardless of who is being assessed
  • Encouraging employees to get involved in a permanent self assessment process and ask for feedback. This leads to self-motivation and engagement.
  • Follow up the assessment. The assessed employee and the assessor will meet for a follow up session to analyse and discuss results, certain situations and evaluate the potential solutions for the identified problems, which leads to mid-term and long-term development.

 If you need more information about how the assessment system works, get in touch with a consultant now!

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