What must Human Resource Professionals Look for in Candidates Applying in 2022?

Hiring an employee is not just an operational activity for HR professionals but a strategic initiative affecting the entire organization. Not only can a bad hire be costly to the business, but it can also affect the company’s current workforce. As the saying goes, “One bad apple spoils the barrel.” It is better for a vacant role to remain open rather than hiring the wrong candidate. The new normal of the labour market may make it difficult for hiring professionals to find the best suitable candidates. Here are the top skills they should strive to identify.

 

Culture Fit. This is one of the most essential aspects that hiring managers should look for in a candidate. Every organization has some dominant values and norms that its founders or owners have shaped. Culture is what makes people understand their identity as an organization.For different business circumstances, it specifies the type of behaviour that is encouraged. Organizational culture defines the “way we do things around here” in the firm, especially regarding how employees communicate and relate with each other, customers, or other external stakeholders.

A study at the University of Iowa reveals that culturally fit candidates showed higher job satisfaction and better performance. Furthermore, candidates who fit culturally in the organization tend to stay longer and have higher levels of commitment. To understand a candidate’s cultural fit , hiring managers should ask them what type of culture they will succeed in or what principles and values they love and uphold. Finally, evaluate the candidates’ work ethic and norms and give them a realistic culture preview by touring them in the office to see how employees interact and collaborate.

 

Teamwork.  Teamwork is a critical skill regardless of whether a candidate is being interviewed as a senior executive or an intern. It’s a skill applicable to all types of careers in the organization. Bringing in a new employee who loves working in silos will be challenging to manage and eventually ruin the firm’s team synergy. Agile organizations’ capability to innovate and deliver superior products and services is distinguished by the ability of their people to collaborate and achieve their goals through teamwork. Teamwork is the ability to work well with others, often displayed through cooperation. When members of a team show empathy, respect, trust, and support towards each other, it creates a unique working environment where people actively participate and thrive to achieve a common goal.

Recruiters can ask candidates about a team project they had been involved with. This question will provide an overview of the type of initiatives that the candidate had participated in their work. Then probe on what contributions they had played and how they handled a challenging team member. Hiring Managers should also ask the candidate to describe their experience on how well they collaborated and showcased their trust and cooperation with others. Asking them about the quality of their working relationships with their colleagues will show managers how well the candidate will relate with others. These questions will reveal not just their teamwork skill but also understand their ability to build positive and productive relationships in the organization.

 

Adaptability. Nowadays, every organization faces an uncertain, highly competitive, and disruptive work environment. The rapid pace of change and innovation brought about by the advancement of technology and other external forces creates a constantly changing organizational landscape. For instance, the recent COVID-19 pandemic did not just change the way we work, but it changed how organizations value their employee’s health and well-being.

Such unprecedented patterns call for adaptability and resilience. Candidates with a growth mindset who recognize their need to learn and adapt to their organization’s ever-changing environment will be the ones who will thrive and succeed. Moreover, flexible employees are more innovative and tend to explore various work approaches rather than accept the conventional work method allowing them to embrace change as a regular part of their lives.

 

Problem-Solving.  The organization expects its employees to solve its most pressing issues. Effectively identifying a problem and its causes and solving it effectively is a crucial skill that recruiters look for in job applicants. Elon Musks, the world’s richest entrepreneur, suggests that he pays employees based on their ability to solve complex problems. With the constant change in the business environment, which can present several organizational problems, issues, and challenges, problem-solving has never been a more critical skill for employees.

 

How to Calculate Your Marketing Budget in 2022

The sales numbers aren’t adding up, you’re employing every strategy you found on Google, but nothing seems to click. Where are you going wrong? Maybe your marketing budget isn’t in place but how much is enough to get your brand noticed? How do you calculate if it’s too much or too little to generate any return on investment? As always, the challenge is to find the right balance while getting plenty of quality leads. 

So how much should you spend on marketing? 

A survey conducted by CMO in 2021 showed that organizations spend anywhere between 10.4% – 13.7% of their company budget on marketing. Although this number varies from industry to industry, this could give you a small idea of how much you should be spending on marketing. What you might want to break down is how much of that budget should you spend on different marketing strategies. With the world of tech taking over, companies are shifting much of their marketing efforts to digital platforms.

In addition to dividing between digital and traditional methods of marketing, you need to figure out which channels get your better results. The easiest way to put this is, spend more money where you’re getting the most return. Make use of analytical tools to determine which channels perform consistently over time and which ones are not yielding good value.  

5 Things to Consider When Setting a Marketing Budget 

There are multiple strategies companies use to develop a marketing budget. Here are some guidelines that can help you in setting the perfect marketing budget for your company 

Industry : One of the common ways is setting a percentage of revenue for marketing based on your industry type. You can learn how much your business can allot for its marketing budget based on the table below

IndustryMarketing Budget (% Of Company Revenue)
Communications Media10%
Mining and Construction3%
Service Consulting21%
Consumer Packaged Goods9%
Consumer Services6%
Education3%
Energy1%
Banking, Finance, Insurance, and Real Estate8%
Healthcare18%
Manufacturing13%
Retail Wholesale14%
Technology21%
Transportation6%
Source: WebFX (2022)

New Companies: Business running their operations between 1 – 5 years of age can invest anywhere between 12% – 20% of their total revenue towards marketing. Whilst this might seem a lot, you need to remember that there are many sharks looking to capture the market share. You need to let the audience know that you exist, and therefore your marketing strategy should be aggressive. 

Established Companies: Businesses older than 5 years of age can invest between 6% – 12% of their total revenue. If your business is older than 5 years and you haven’t yet invested in any marketing, you may see which strategy works better and tweak your budget accordingly.

Market: A Business-to-Business (B2B) should invest 7% – 8% of its total revenue towards marketing. Whereas for Business-to-Consumer (B2C), ideally, they should be spending about 9% of revenue on marketing.

You need to consider business goals when creating your budget and depending on your overall business strategy, you may opt to create a marketing budget that could be higher or lower than your industry’s average. How do you do that you ask? The final piece to this puzzle (drum rolls) is to find out:

Target Cost of Acquiring New Customer: A goal-driven marketing budget should determine the target cost for acquiring a new customer and how many new customers you aim to get through your marketing strategy. The last step is to multiply those and add any fixed costs. For instance, you set your target cost as $100 per customer, and you are aiming to get 100 new customers, and your fixed cost is $5000. So, the total cost would be

(100 x 100) = 5000 = $15000

If you’re busy running your business, you could also make use of a digital marketing company so that you can focus on other aspects of the business. We all know that there are certain marketing strategies you must spend time and money on so that you don’t FOMO (Fear of Missing Out). But how much does a professional digital marketing service cost? Here’s an estimate

SEO $500 – $10,000 + per month
PPC 5-20% of monthly ad spend
Content marketing $1000 – $10,000 per month
Social media marketing $200 – $5,000 per month
Email marketing $200 – $1500 per month

Do bear in mind that these prices vary depending on your business, and you will need to consider your goals when creating your budget. As you run your marketing campaigns, you might want to tweak them to improve the overall performance. There’s no magic formula for reaching your goals, but you can use these steps in building your brand while spending wisely.

References

https://www.entrepreneur.com/article/243790
https://www.rogerwest.com/strategy/calculate-annual-marketing-budget/

https://www.businessnewsdaily.com/15766-how-to-develop-a-marketing-budget.html

https://www.webfx.com/blog/marketing/how-to-plan-a-marketing-budget/

10 Steps to Having Productive Mondays

Mondays can be hard, but with a little bit of discipline, it can be the best day of the week. We often dread its arrival, especially after an eventful weekend has passed, and now we must head back to the workweek. But Monday can also be an exciting beginning. We need to change our mindset and with the right approach, it can stimulate efficiency and productivity for the entire week. It takes determination to start the week with focus and optimism and it is exactly what the most productive people do! In fact, several studies show Monday is the most productive day of the week.

Here are some tips for making your Mondays more productive :

  1. Monday is a fresh start

Mondays are a new beginning. Take every Monday as a fresh start regardless of what may have happened during the weekend. Weekends are there to break from your regular routine so that you can arrive refreshed and recharged and ready for the start of the week. More importantly, preparation is the key to embracing Monday and making it your most productive day.

  1. Have a positive attitude

So much time and energy are wasted when you are in a bad mood. Productive people don’t like to waste any energy, and do not want the week to lag from a bad start. Focus your mind on joyful productivity from the moment you wake up and be excited about what you can accomplish.

  1. Wear your power outfit

Your clothes influence how you feel so why not take advantage of that on a Monday morning and choose a power outfit for yourself. Choose something you feel great in that will help you set your mind – and the week – to success and achievement.

  1. Arrive at work a little early

Start your week off on the right foot so instead of sleeping in until the last second, arriving to work just a little earlier can give you time to straighten out your thoughts and organize. Use the time to plan your day and the rest of the week.

  1. Set realistic goals for the week

Be realistic about how your time will be spent. You can use an online calendar or applications to help you set and achieve realistic, attainable goals for the day and the week. Using an online or hard copy notepad can help you organize your thoughts, activities, and deadlines to create an action plan.

  1. Establish a routine

A routine gives you more freedom as it reduces the psychological impact of changing your environment and making decisions. When you create a routine, it allows you to easily switch from your weekend mindset to your weekday mindset. This helps you to improve your concentration, mood, and focus.

  1. Track your success

Keep a log of your daily activities. Track your process and keep it results-oriented. Track the accounts won, tasks completed, and achievements unlocked. On your most productive days, review what you did to make them so productive. Keeping track of your success keeps you focused on not starting things, but actually finishing them. In this way, you end the day off on a high note and it keeps you motivated and excited for the rest of the week.

  1. Save meetings for later

Cancel Monday morning meetings if possible or reschedule them for later in the day. You and your colleagues will appreciate having the time to get a leg up on the week’s work. Commit to your work and try to avoid any distractions. After two hours, get up, walk around, stretch, and have a drink of water.

  1. Schedule a little ‘me’ time

It’s up to you to decide the best, most productive use of your time. Making exercise part of your Monday routine in whatever way you can helps set the tone for the rest of the week. Exercise also boosts your energy for the rest of the week.

  1. Change your mind set about Monday

You must stop seeing Monday as a terrible, horrible, no good, very bad day, and you have to start looking at it for all of its possibilities: the opportunity it presents for a good start, the opening it gives you for a productive week.

Sources:

https://www.entrepreneur.com/article/340029

https://www.randstad.ca/job-seeker/career-resources/workplace-culture/how-to-make-your-mondays-memorable/

https://www.inc.com/kevin-daum/5-simple-things-super-productive-people-do-on-monday.html

5 Ways To Upscale Your Skills To Climb Up That Corporate Ladder

We all know that learning, unlearin, relearning and adapting is an integral part of professional growth. With the business landscape constantly evolving, even those who are experts in the field need to update their skills and replace older values with new ones, keeping the best interest of business in mind. So, here are some easy ways to upscale your skills that are guaranteed to help you climb up the corporate ladder and become a better leader

1. Attend workshops and professional development training

The best way to learn a skill is to learn it. Institutions that offer short-term courses and training programs often revise their training material on a regular basis to suit market requirements and industry demands. Enrolling for such programmes or attending workshops will help you acquire new skills under the supervision of experts and market researchers, who will be able to clarify doubts, guide professionals in the right direction and further pave the way for professionals to excel in their careers.

Read

There is a book for each profession and expertise that exists in the market and reading is one of the best ways to acquire knowledge. Budding investors often turn to books authored by Robert Kiyosaki and Warren Buffet. Life Coaching and management books like the Blue Ocean Strategy are a good place to start for new team leads and managers. Reading material and scholarly articles are an efficient way to upskill, on the go.

Research

We live in the day and age where absolutely any skill can be acquired and mastered via the internet. Evan Spiegel, the owner of the social media application- Snapchat, learnt coding from scratch during the after hours of his 9-5 job and is now the owner of an app that generates a revenue of 2.5 billion USD.

It is extremely easy for just anybody with a computer, laptop, tablet or a smartphone to simply get on to a search engine and commence research on a topic of their interest. Material is available in varying formats, from text, to infographics, to videos and audio. For a professional striving to climb up the corporate ladder, there isn’t an easier way than to take some time out in the day and conduct further research into the field of their interest.

Practice trial & error

Of course, what is learnt has to be put into practice to understand whether the acquired knowledge and skill adds value to one’s professional role. It is not mandatory that all the best practices that one learns about will work in the favour of their business model and management structure.

Upon learning, professionals must therefore try and apply their theoretical knowledge and newly acquired skills to gain a deeper insight into which of the practices will, in fact, help them contribute towards the growth of the business and in turn their growth within the company.

Network

Jim Rohn, the motivational speaker had said “You are the average of the five people you spend the most time with”. Apart from Jim, multiple experts and life coaches have concluded that a person’s social circle ranks high in determining their progress in life. Therefore, to become an expert on a matter it is advisable to network with those who are experts on the matter. Expansion of social circle to include those who will fuel your personal and intellectual growth is bound to do wonders for your professional growth.

DeMont Institute of Management and Technology is one such institution that constantly revises its course material to match market demands. DeMont sees to it that each of its programmes features study material and training on best practices, updated technology and the most efficient methodologies of practice for professionals in the field of Marketing and Sales, Human Resources, Supply Chain, Healthcare and more.

5 Characteristics A Leader Must Have In 2022

The year is 2022. In the past decade the world has suffered from a Global Pandemic that drastically changed work cultures as work from home was implemented internationally, in the first quarter of 2020; emonomies have crashed and revived, politics and social incidents have made history altering headlines and the Earth has faced multiple major calamities.

Now, whether we would like to admit it or not, most systems globally operate on a domino effect pattern. Meaning, the slightest of the changes in one part of the world has the potential to significantly impact business activities of a company at the other end of the world. The footballer Cristiano Ronaldo cost the food & beverage brand, Coca Cola, an estimate of $4 Billion by merely choosing to have water over a carbonated drink in front of the media.

As rightly put by the scientist, Albert Einstein “Everything is connected”. Therefore, leaders of an organisation, too, must alter their leadership styles and methodology of leading, to help the organisation surpass its hurdles and remain profitable, at the same time cater to the requirements of their superiors and subordinates. Gone are days when all that was expected of a leader was to keep the workers in line and yield optimum results from the workers’ efforts for businesses. Environment, culture, digitalisation are some factors among others that have caused leaders to consider alternative leadership methods that are in the best interest of all associated with them.

Here are 5 characteristics that a leader must harbour in order to lead successfully in 2022:

Connect with multiple generations

Over the years, the workspace has become a mixture of cultures. Workers from different nationalities, varying age groups and demographics are working together in the space that we now refer to as a global village. Therefore, it has become increasingly important for leaders to adapt to these changing multicultural work environments, and be welcoming and understanding towards cultures unknown to them. This effort would lead to instilling a sense of inclusion at the workplace that creates a safe and healthy environment for employees to perform at.

Managing Digitally

During the pandemic, employees from thousands of organisations were asked to work from home. This made it challenging for leaders to have easy access to their staff members and to coordinate. However, video conferencing and digital reports at the end of the day, became an increasingly popular trend. Many organisations adopted automations that helped leaders acquire information about the employees’ tasks for the day. On the other hand, there have been incidents when organisations made it mandatory for employees to keep their web-cameras on through the working hours which raised numerous privacy concerns. Therefore, a modern-day leader must know the extent of their supervision and intrusion into the personal lives of the employees, at the same time, a good leader must be able to think in favour of the firm and propose ideas that may help gather data about the employees’ working hours and record of the tasks completed by them as per the key performance indicator.

Sensitive towards Environmental Issues

The Earth is at 0 hour. Meaning that severe damage has been caused to the environment, dominantly due to human activities such as global warming, pollution and depletion of natural resources. Now, it is the duty of every individual and organisation to play their part in helping the environment revive and recover from the damage caused. A passion to contribute towards recovery of the environment is what sets a successful and visionary leader apart from the rest. The fact that renowned multinational organisations from Apple to Ikea to Unilever have recently altered their regular course of business to cut back on pollution and resource wastage, and the fact that world leaders are increasingly participating in global talks and summits the likes of UN led Earth Summit and the Climate Change Conference are a fact that concerns regarding the environment and the drive to steer the business towards an environment friendly direction is the mark of a great leader.

Empathy & Sympathy

As society advances, it is becoming clearer that no two people are the same. Meaning the way they work and their strengths differ. Additionally, mental health issues have started to draw public attention. Cultures are finally starting to accept and understand mental health and its adverse effects on a person’s life and day-to-day activities. It then becomes the responsibility of a great leader to observe the weaknesses and strengths of its subordinates, and encourage them to apply their strengths towards achieving company goals.

Inspiring change and productivity

The mark of a 21st Century leader is: practice before preaching and leading by example. A good leader is not someone who delegates tasks, asks for updates and assures that company targets are met by employees. A good leader analyses the hurdles and proposes innovative solutions, s/he maintains a healthy rapport with the subordinates and inspires them to give their best. A leader in 2022 serves as an example of a model employee. A leader is no more a stand-alone figure. To lead, one must learn to collaborate and work in harmony along with the team as a singular unit.

Not only are these leadership qualities important for business leaders but for those who are leaders outside the business sphere, from activists to politicians to sports team captains. Management courses offered by DeMont Institute of Management and Technology are designed to update the leadership skill set for managers, team leads and specialists to perform as a modern-day leader.

Its 2022 And You NEED To Upskill – Here is Why

The fact that technological advancements are transforming the world of business by the minute, is no secret. In the 1950s, at the time when computers were being introduced into the workplace, it proved to be a challenge for the older generations to keep up with the younger employees walking into work with ample knowledge of computers.

Technology has since been far more advanced and is progressing faster than ever. Businesses have been pushed into adapting to the culture of digitalisation and other trends, in an effort to keep afloat. Knowledge of updated technology, market trends, best practice and the ability to adapt at an efficient rate now, are all features that have become essential to the hiring process across firms.

Yet another widely practiced work culture is that of on-the-job training (OJT). OJTs serve as a means to fill the gap in knowledge among employees of a firm in relation to technological adaptation and automations. This specific culture speaks volumes about the firm’s interest in employing and retaining employees that showcase keen interest in learning about new business trends and practices that can take businesses to new heights.

While most organisations, currently, are deploying their resources to provide OJTs for the purpose of upskilling employees, it is mostly aimed towards training the masses rather than individuals and the training programs have a time constraint attached to them which pushes the employees to overlook their learning curve and catch up as per the organisation’s expectations. This may result in leaving a lot of gaps in one’s personal growth and development due to lack of access to the best way of acquiring knowledge that can be further applied to excel at any position. This is when it becomes imperative to take personal responsibility to upgrade one’s skill set in order to match company expectations. It therefore, becomes essential for any employee, irrespective of their field of business or position to take the initiative and increase their market value. Here is how upscaling helps employees:

Retain their jobs

The core nature of a business persists to center around hiring performing employees and retaining them. If a firm believes that its resources are being inefficiently used towards accommodating a non-performing employee or someone whose contributions have been lower than company investment, it is likely that the individual will find him/herself under fire from the management, until eventually losing out on the job. Persistence in remaining profitable to the firm comes from adapting, adjusting and using the changes at work yield the best results. As long as an employee seems to be fulfilling company expectations, firms refrain from investing extra capital into hiring a new employee to make up for the gap in performance or replace the current employee.

Climb up the business ladder

Upscaling not only helps fill the gaps in current knowledge but also introduces new information in sync with the current business trends. This gives employees an upper hand in comparison to their colleagues, which in turns helps them perform at a higher more efficient level. When an employee starts to exceed company expectations, management is sure to take notice. This puts employees in a position to expect career progressions within the firm.

Apply for a dream job/to a firm of one’s liking

An office is once such a place where a person spends the majority of their days. Therefore, it is not uncommon for an employee to want to work for a different company that offers better employee benefits or switch jobs. One may be a senior sales executive with the passion for advertising. Pursuing a skill development course in sales and marketing may then enable them to approach their current management to give them an opportunity in a different department or apply to a different organisation where their contributions may add value and their passion be fueled.

Personal growth and development

Upscaling one’s skill set while adding value to professional life, also facilitates personal growth. “Knowledge itself is power” said Sir Francis Bacon, the Former Lord High Chancellor of Great Britain. A professional equipped with the knowledge and talent exceeding their job roles and company expectations also develops confidence, encouraging one to do better and achieve more. Every successful day at the job leads to a feeling of accomplishment and productivity. When humans are acknowledged for doing a job well done, they tend to do more and are proven to lead happier lives.

Transform into an innovator

This transformation is a result of the aforementioned factors. When a professional is retained, promoted, appreciated and driven, s/he is motivated to do more. The will to do better encourages one to continuously try to suggest new ideas, a more efficient way of doing something, introducing automations and watch their efforts yield benefits for themselves as well as the firm.

DeMont Institute of Management & Technology is one such accredited and acclaimed institution that provides professional certifications in the field of Healthcare, Supply Chain Management, Sales and Marketing, Human Resources and Project Management among other certifications such as Certified Team Lead Training and Certified Manager Training. These certifications are proposed to help professionals upskill and achieve higher feats in their respective careers.

There Are Almost 79 Institutes in the UAE. Why DeMont?

There are certain scales upon which a good institute is measured. Some of those features are credibility, reputation, quality of education, weightage of the certifications received and overall educational experience.

DeMont Institute of Management and Technology not only ticks all of those criterias but has so much more to offer. To begin with, the institute is located in the academic hub of Dubai: the Dubai International Academic City (DIAC), providing students with the best, state of the art educational facilities and exposing them to the international students’ culture in the United Arab Emirates (UAE).

However, there is something about DeMont that isn’t quite common among institutes: A pathway that it paves for its students to apply for higher education abroad. Rarely does a management institute go the extra mile to assure WES approved certifications for its students. This is where DeMont stands apart from its competitors. Each of DeMont’s certifications and degrees are WES approved for migration.

What is WES, and why do you need it to pursue higher education abroad?

WES stands for “World Education Service”. WES provides its services to international students who look forward to applying for higher education and career opportunities in the US and Canada by assisting them with evaluating the students’ educational qualifications. During the evaluation, credentials are assessed on the basis of the education system of a country, the reputation of the educational institution, the programme, curriculum, and the further extent of the students’ efforts to meet university/college requirements of enrolment.

Once degrees and certificates have received WES approval, it becomes significantly easy for aspiring students to travel for higher education and/or to work abroad.

As helpful and essential as it is, the procedure to apply for WES approval may be an arduous and lengthy task. Getting WES approval may also involve incurring extra costs. Students are only eligible to apply for WES evaluation once other documents of theirs have been verified. After the verification of the documents, acquiring WES approval takes an estimate of 7 to 8 business days. Often, students who are applying for WES approval for the first time may struggle to meet all criterias and provide with the necessary documentation without help from an experienced professional or the support of someone who has previously applied for WES evaluation.

Receiving a degree or certificate that has been pre-approved by WES eases the application process for students and gives them the confidence to apply for higher education abroad, without hesitation.

DeMont Institute of Management and Technology caters to the educational and professional needs of the students beyond the doors of the institution. It promises not only an exceptional educational experience with a strong infrastructure but also a hopeful future ahead.

The institution is currently offering professional certifications, in collaboration with Chartered Management Institute (CMI) for professional development. The courses offered by DeMont include Certified Manager, Certified Team Lead, Healthcare Management Professional, Supply Chain Management Practitioner, Strategic Human Resource Management Practitioner, Project Management Practitioner, and Sales and Marketing Professional.