Top 10 Ways to Retain Your Best Employees

The cost of replacing employees, especially productive ones, is high for companies, which is why they place a high value on employee retention. The loss of talented employees can also strain existing employees, who need to take on extra work until those roles can be filled. In light of this, retaining your top employees should be a priority for your organization. These days, keeping your most valuable employees isn’t easy. There is a vast difference between how past generations viewed employment and how it is viewed today. For millennials, job hopping is a common practice in the workplace. To attract top young talent, employers need to use innovative recruiting strategies to find and hire ideal job candidates.

Source: VantageCircle (2022)

To prevent talent from leaving your company, you must not only recruit the best people but also nurture and engage them. Most companies find it troubling and challenging to deal with the “Great Resignation” (also known as the “Great Reshuffle”). If businesses believe their most important assets are their employees, retaining them is critical. Reviewing current policies and implementing new communications and procedures that will make a difference isalso helpful.  

So how can you keep your best employees?

This blog post outlines a few ways to do it.  

1. Onboarding and orientation

It is imperative to set every new hire for success from the outset. During the onboarding process, new employees should learn not only about the job but also about the company’s culture and how they can contribute to it. Whether in person or virtually, the training and support you provide from day one can set the tone for an employee’s entire career.

2. Employee compensation

A better-than-average salary and excellent benefits are obvious ways to retain top workers. As an incentive to stay with the company, you can also offer a retention bonus. You can also improve employee job satisfaction by improving health care benefits and retirement plans. Employees will remain in their jobs for longer if they are well-compensated and engaged. Your employees’ wages should be tied to the performance of the company. The company’s revenue and profit goals will be aligned with their interests, and it will serve as an inherent incentive for them to stay.

3. Communication

With hybrid and remote work on the rise, good workplace communication has become increasingly important. If your direct reports work on-site or remotely, they should feel comfortable approaching you with ideas, questions, and concerns at any time. To promote timely, constructive, and positive communication across the entire team, the organization needs to do its part.

4. Continuous feedback on performance

To show employees that you are listening to their feedback, many employers are abandoning the annual performance review in favour of more frequent meetings. During these meetings, employees discuss their short- and long-term professional goals, enabling them to visualize their future within the organization.

5, Training and development

Technology continues to change how we work, so it is especially important to upskill employees today. By upskilling, people gain new skills and competencies. Organizations should prioritize investing in their employees’ professional development. Make educational opportunities available, such as virtual conferences, tuition reimbursements, or financial support for continuing education. As a method for building leadership skills and advancing professional development, succession planning is extremely important. When employees aren’t allowed to grow in their organizations, they feel irrelevant.

6. Work-life balance

Working remotely has made it easier for people to avoid going to the office. Remote work offers employees the flexibility they desire. For two working parents, a flexible schedule is essential. It does not mean that they won’t work the same number of hours, but that they can manage their work outside of normal work hours. Job satisfaction depends on a healthy work-life balance. Management needs to be aware that people have lives outside of work, and that maintaining a balance can be even more challenging when working from home. Your best employees can benefit from flexibility.

7. Acknowledgement of milestones, big and small

A great way of promoting employee retention is to shine a light on notable achievements. Whether your team finishes ahead of the deadline on a major project, or a worker reaches a fifth work anniversary, seize the opportunity to mark the milestone together. Even if you need to celebrate virtually, it can be a meaningful and memorable moment for everyone.

8. Great work environment

People will stay at a company that celebrates diversity and makes them feel included. A more interactive and engaging work environment has replaced the drab, permanent cubicle type of workspace. It is becoming increasingly important for companies to enhance their office environments to retain top talent. With amenities like free coffee and snacks, a pool table, and fitness and relaxation rooms, employees won’t dread going to work. Happy hours on some days, birthday celebrations, and parties as rewards for successful projects are effective ways to motivate your employees.

9, Effective change management

Aside from the recent disruptions caused by the pandemic, every workplace is subject to change, both good and bad. These times require insight and reassurance from leadership. If your organization is undergoing a major change, keeping your team as informed as possible can ease anxieties and keep rumours at bay.

10. Don’t micromanage

Employee morale is hurt by micromanagement, and employees are deprived of the opportunity to achieve better results for themselves. Put more emphasis on facts and results than on the process and have feedback revolve around whether or not set expectations have been met. By reviewing their results, employees can determine if their process was successful. They can see what they are doing right and what is leading to their success, as well as how they need to adapt.

In conclusion, organizations must constantly strive to improve if they want to reduce employee turnover and increase employee satisfaction. In addition, they need to prioritize their employees’ overall well-being, which will strengthen their entire organization. Eventually, some of your team members will leave your organization, but they will know they are valued and supported, and they may even recommend your company to others.

References:

Half, R., 2022. 14 Effective employee retention strategies. [Online]
Available at: https://www.roberthalf.com/blog/management-tips/effective-employee-retention-strategies
Ludwig, S., 2022. 8 Simple ways to retain your best employees. [Online]
Available at: https://www.uschamber.com/co/run/human-resources/how-to-retain-top-employees
Rolnick, M., 2022. How to improve employee retention, motivation and wellness. [Online]
Available at: https://www.forbes.com/sites/forbesbusinessdevelopmentcouncil/2022/08/19/how-to-improve-employee-retention-motivation-and-wellness/?sh=4344d95220f0
Talent Lyft, 2018. 9 Tips for keeping your best employees. [Online]
Available at: https://www.talentlyft.com/en/blog/article/188/9-tips-for-keeping-your-best-employees
Williams, D. K. & Scott, M. M., 2012. Five ways to retain employees forever. [Online]
Available at: https://hbr.org/2012/11/five-ways-to-retain-employees

How to cope with life away from home for new college students

College is a thrilling stage of life that is full of enjoyment, fear, dreams, and obligations. Here, kids learn how to be organized, responsible, knowledgeable, and aware to prepare them for the future. But as the saying goes, taking the first step is the hardest. This is what happens to kids when they travel far from home to study.

It may be challenging to adjust to a new location because of the warmth and comfort of home, the love and care of family and friends, happy memories, and a sense of belonging to the city one has lived in for a long time. It can be quite difficult to acclimatize to new culture, climate, and surroundings.

A university is a new environment that triggers different reactions among first-year students. Thus, life at university for the first year can be exciting and challenging. The university terrain is drastically different from that of the secondary school in which the students had been attending their education before they joined the campus. Students get anxious as they adjust to the academic, social, personal, and lifestyle challenges that the university presents.

The combination of many stressors of university life, such as planning for the future, struggling with exams and assignments, coping with demands and challenging professors, deciding on a major, and transitioning into financial and emotional independence, can be an overwhelming experience for many students. Hence, almost all new students go through an adjustment phase upon entry to a university with each student varied in his or her own pace of development.

Transitional difficulties are not a sign of weakness or failure, but rather are frequently the start of a better and more fulfilling college experience. Slowing down and realizing that this is a change in your life that you desperately need can help you adapt to the surroundings. Consider your time in college as an opportunity to develop and improve. Recall the factors that led to your decision to attend college. Keep in mind all the effort, diligence, and planning you put into selecting the right college and course. There are a few methods to handle living away from home when you attend college.

Give yourself time to adjust: Allow yourself to get adjusted to college life. Be open to getting along with people around you, speak, and sort out if there are any issues. At times just speaking with someone makes an impact and can bring down the stress level. Also, interaction with people gives you an opportunity to get to connect with like-minded people, gain good friends, reduce stress, and ease loneliness.

Stay organized: When you prioritize an organization, you give yourself time to focus on what really matters, like your much-needed sleep. Organizing your daily schedule and tasks allows you to concentrate on what needs to get done that day instead of being distracted by things around you.

Join clubs and activities: College is the best place to work on your hobbies and interests. Join different clubs as per your interest such as sports clubs, theatre clubs, art clubs, and public speaking clubs. Get involved in campus activities. These activities will help to boost confidence, help to make new friends, and build connections.

Explore: Exploring new places is also a great way to keep yourself entertained. When you’re exploring, you’re learning all the time. Understanding new cultures, food, history, and language could broaden your horizons.

Regular communication with your family: Call your family and friends or leave them a large text about how they would have loved your favorite place (if any) tell them that you are missing their stupid habits and relive those moments by replaying them in your head. Talk to your family, initially, it would hit like a train but soon enough you will be getting peace from having the knowledge that they are always there for you. Talk things out before they destroy your mental peace.

Personal care: As you work hard to advance your career by advancing your education, the last thing you want is to get bogged down by unnecessary stress. It’s clear that self-care in college is one of the primary ways to balance stress and ensure overall wellness as a busy student. Making your well-being a priority in this way can help pave the way for continued success in your educational journey and beyond.

Keep in mind that everyone finds college challenging. No one is ever completely alone. You may be pleasantly surprised by how much enjoyment can come by just choosing to accept a new experience.

References
https://americanaddictioncenters.org/blog/college-coping-mechanisms
https://heri.ucla.edu/briefs/YFCY/YFCY-2019-Brief.pdf

The Best Part-Time Jobs for Students

Part-time jobs have become increasingly popular over the past few years with many students successfully combining their university studies with part-time work. Working part-time offers a great opportunity for students to earn extra money while studying. Other benefits include gaining work experience, building self-confidence, developing administrative and leadership skills, discovering new interests, and meeting new people. Part-time jobs, however, are not without risks if students take up jobs at the expense of their academic work. There is the risk of reduced academic performance due to reduced study time, missing classes, and in the worst case, dropping out. To reap the benefits of studying and working, therefore, requires some balance, effort, and discipline.

Choosing a Part-Time Job

There are ample opportunities for students to take up part-time jobs these days – on-campus, off-campus, and online. The first step is deciding on what kind of job the student wishes to take up. One good way of approaching this problem is to figure out the reasons why the student wants to take up a part-time job. Is it to make extra money or is it to gain some transferable skills or is it to network and make new friends or for some other reason? Students should also consider how much time they can spare in a week. International students on a student visa should comply with the visa rules when considering part-time work. While traditional jobs for students require work shifts, remote jobs offer increased flexibility and more autonomy besides helping in digital networking and skills development.

On-Campus Part-Time Jobs

  • Campus Ambassador: This is a great on-campus opportunity for students who enjoy meeting new people and working in a team. Campus ambassadors have the responsibility of promoting the university and encouraging prospective students to enroll.
  • Teaching Assistant: A teaching assistant assists professors in classroom activities and helps students overcome any academic barriers. This on-campus role provides an opportunity to advance in studies too.
  • Research Assistant:  Research assistants assist professors or senior researchers on research projects. While the job would depend on the department but essentially, the research assistant is expected to work on various projects, carry out research, collect data, perform experiments, and collate results.
  • Library Assistant: A library assistant is a role that can be taken up at the university library or at a library nearby. The responsibilities include routine, daily library operations such as shelving books, helping visitors locate books and other reading materials, and recommending useful books.

Off-Campus Part-Time Jobs

  • Restaurants/Catering: Restaurants and catering work often offers flexible hours and shifts. Duties involve waitressing, waiting tables, reservations, or at times even some cooking. The job can sometimes be tough, and physically demanding work, but a good server can make extra cash through tips. Many colleges and universities hire students to work at campus cafes.
  • Retail Store: Working as retail store assistants in bookstores, pet stores, drug stores, clothing stores, technology stores – or any other will provide students the opportunity to acquire customer service and interpersonal skills on the sales floor. These jobs would require more effort as they may involve long hours of standing and a fair amount of product know-how. 
  • Paid Internships: Paid internships are a great employment opportunity for students as they can provide valuable experience to help them find a job in their desired field after graduation. Besides equipping interns with knowledge and skills, internships will help in growing one’s professional network.

Online Part-Time Jobs

  • Social Media Manager: The role involves creating brand promotions, analysing customer engagement, and communicating with potential customers. Working as a part-time social media manager will provide exposure and develop communication skills that will help with a career in marketing after graduation.
  • Freelance Writer: This is a good opportunity for students with good command over written language. A role as a freelance writer involves writing website content, blogs, product briefs, etc. This will help in enhancingthe student’s knowledge base besides enjoying the writing at one’s own pace.
  • Graphic Designer: Freelance graphic designer would be a good option for students who have some proficiency in software such as Adobe Photoshop, Illustrator, After Effects, Sketch, and Figma. Graphic design has applications across a wide domain and students can make use of their design and creativity skills for earning extra money.
  • Virtual Assistant: A virtual assistant offers services such as data entry, schedule management, record maintenance, and answering customer questions on social media sites like Amazon and LinkedIn, etc. This is a role that gives flexibility and at the same time experience in administrative tasks. 

Next steps

While you consider which part-time job is best for you, it would be advisable to prepare a resume and practice your interview skills. Look up videos regarding interview etiquette, search for resume templates and prepare for the most asked interview questions in your preferred field of work. It’s always best to come prepared, so you can not only have a better chance of getting hired but also help you develop your soft skills.

It goes without saying that having a full-time job and managing studies is challenging. At Demont, we aim to tackle that by offering flexible and affordable programs in a variety of fields like business, HR, Marketing, Computing, Finance, etc. Making the process of learning and having a part-time/full-time job much easier.

Reference

https://www.bachelorstudies.com/article/10-part-time-jobs-for-students/
https://www.coursera.org/articles/part-time-jobs-for-college-students
https://www.uopeople.edu/blog/the-best-online-part-time-jobs-for-students/

Considering a Gap Year? Here are the pros and cons, so you can decide better

Traditionally speaking, a ‘gap year’ usually refers to a year’s break taken by students before they start university. More often than not, this year is spent abroad on a structured programme or to spend time developing oneself and the skills before taking the next step in terms of education or career. The Bureau of Labor Statistics states that a gap year need not necessarily be 12 months but could last longer or be shorter, tuned to the needs of a student. Irrespective of the duration of the gap year, the foundational idea remains that the break offers students time for self-reflection, allows them to gain life experience, and be surer of what they want to do in college.

According to The Gap Year Association, a nonprofit membership community, recognized by the U.S. Department of Justice and the U.S. Federal Trade Commission as the Standards Development Organization for gap year education, a gap year can help you find your purpose by figuring out how to make the following four factors combine:

  1. That which you love
  2. That which the world needs
  3. That which you are good at
  4. That which you can be paid for

A student could spend a gap year being engaged in several activities like Working, Volunteering, Traveling, or Gaining life experiences.

Why does taking a gap year matter?

Over the last few years, gap years have become increasingly popular among college students. As many as 40% of students are now embracing the idea of a gap year. From Joe O’Shea’s book, Gap Year: How Delaying College Changes People in Ways the World Needs: “Studies that have looked at the academic performance of gap year students while in college state that in Australia and the United Kingdom, economic researchers found that taking a Gap Year had a significant positive impact on student’s academic performance in college. (Birch and Miller 2007; Crawford and Cribb 2012).”

Taking a Gap Year: Pros and Cons

ProsCons
Explore Opportunities

Taking advantage of the freedom to travel, explore areas around your own home, or get to know people outside of your comfort zone – these add to the kind of experiences that are valuable in ways different from traditional classroom experiences and are worth experiencing.
You could lose momentum

Taking a gap year for a year after graduation could sound like a strong plan as long as doesn’t turn into a three-year plan and the momentum to return to work reduces with time. It is always wise to keep a return date in mind and a plan of what needs to be done.
Earn Extra Money
 
You can always earn and save some extra money towards your higher education costs or future plans.
It can be very expensive
 
On the other hand, the costs could begin to add up. Keep aside some savings before you leave and then getting work while on your gap year could be crucial to making the most of your time.
Break to Recharge
 
This could serve as an opportunity to take a break from studying and return refreshed. You could volunteer, get valuable work experience, and travel the world.
It can be hard to justify
 
If you don’t plan or actively take part in anything during your gap year, it’s much harder to justify your trip to employers. To ensure this doesn’t happen, it is always best to create a plan detailing what you want to achieve and then document what you did while on your gap year.
Gain New Life Skills
 
You can use your gap year to develop any number of key life skills – anything from learning a language while living in another country, or honing communication and leadership skills while working on a service project.
Some people find a year out becomes a distraction from their longer-term plans.
 
It may be harder to transition back to school, after spending a gap year being idle or having withdrawn from academic engagement.
After taking a year off, it could be more difficult to get back into the swing of things – your study habits and learning abilities may slide as you take that year off.
Gap years improve your job prospects
 
A productive gap year could be more valuable on your CV. Learning a skill, gaining work experience in your field, studying a language, or spending months learning about a specific topic or country can all help your resume stand out.
A year spent volunteering or interning can also build skills that will impress potential employers.
You Might Waste Too Much Time
 
An unstructured year out may not add much value to your future – careful thought and planning is essential.

Final Thoughts

Despite the many advantages of taking a gap year, it’s not everyone’s cup of tea. That being said, this should not be a decision that you leap onto impulsively in order to skip taking tests or because you are too indecisive about your future at the moment. It’s worth considering how a gap year could affect your finances before you decide whether to take one. One should consider taking a gap year if there are some specific life experiences (especially those that could be difficult to fit into a jampacked college schedule) one might want to experience prior to starting a career. On the other hand, one should not take a gap year if it is not going to be planned well.

Whether you choose to take a gap year or not, the right college is important. Demont is here to help you pursue your degree field of choice. Let us know how we can help you plan your future college degree path by reaching out to our admissions team today.

References
Brotman, E., 2020. Gap Years For College Students Can Increase Job Prospects, Study Shows. [Online]
Available at: https://www.forbes.com/sites/ericbrotman/2020/09/17/gap-years-for-college-students-can-increase-job-prospects-study-shows/?sh=1e35042f2b9b
[Accessed 07 November 2022].
Busteed, B., 2020. It’s Time To Reinvent The Gap Year. [Online]
Available at: https://www.forbes.com/sites/brandonbusteed/2020/04/26/its-time-to-reinvent-the-gap-year/?sh=2165387e458d
[Accessed 07 November 2022].
Farrington, R., 2019. Here’s Every Reason You Should Take A Gap Year Before College. [Online]
Available at: https://www.forbes.com/sites/robertfarrington/2019/06/10/heres-every-reason-you-should-take-a-gap-year-before-college/?sh=6434813a1ac8
[Accessed 07 November 2022].
Godfrey-Evans, H., 2022. Should I take a gap year?. [Online]
Available at: https://www.prospects.ac.uk/jobs-and-work-experience/gap-year/should-i-take-a-gap-year
[Accessed 07 November 2022].
Mendelman, M., 2022. The unbelievable career advantages of taking a gap year. [Online]
Available at: https://www.gapyearassociation.org/2019/10/17/the-unbelievable-career-advantages-of-taking-a-gap-year/
[Accessed 07 November 2022].
National Careers Service, 2022. Gap year advice. [Online]
Available at: https://nationalcareers.service.gov.uk/careers-advice/advice-on-a-gap-year
[Accessed 07 November 2022].
Tretina, K. & McGurran, B., 2021. What Is A Gap Year And Should You Take One?. [Online]
Available at: https://www.forbes.com/advisor/student-loans/what-is-a-gap-year/
[Accessed 07 November 2022].

Role of a Project Manager in an Organization

Who is a Project Manager?

People with strong entrepreneurial mindsets make for outstanding project managers. The project manager’s role is to lead teams and team members over the finish line, and this enables them to think about a project beyond the fundamental skill set required to manage it. The project manager is ultimately responsible for the outcome and bears sole responsibility for the project’s success or failure.

“Project Managers play the lead role in planning, executing, monitoring, controlling, and closing projects. They’re expected to deliver a project on time, within the budget, and brief while keeping everyone in the know and happy.”

Cam Lee, Rock Agency

Basic activities that must be accomplished by a team on the schedule are called projects. To ensure that the team assigned to work on the project completely understands the expectations from the project and adequately delivers what has been expected it on time, a project manager is needed.

To ensure that everyone gets what they want out of the project, the project manager serves as a liaison between the client and the project team. As a result, the project manager serves as the conduit for communication between the client and the project resources. The project manager oversees the entire team to ensure that the objectives are met, and that the client receives a flawless product within the allotted time frames.

Key Roles & Responsibilities of a Project Manager in an Organization

Being an effective project manager requires the following organizing skills, which may be applied to a variety of projects:

1. Activity, and Resource Planning

Along with outlining the workflow, a project manager breaks down the many tasks that make up project activity. Project managers are expected to coordinate the numerous operations of a project with the available resources.

A clever project manager can spot resource waste and redeploy resources for higher uses or utilization when planning is done precisely and the progress of groups of activities is closely monitored. This holds true for natural, technical, physical, and human resources. As a result, at some time during the project, the project manager’s position changes to that of a Tracker.

2. Managing Risks & Containing Issues

Any competent project manager will understand that risk is anything that happens throughout the course of a project that is “not as per plan.” This unanticipated development could either be beneficial or detrimental to the project’s success. Managing risk is all about being ready to deal with it.

Risks will develop into significant problems if the project manager’s duties do not emphasize the necessity to list them as potentialities that could become realities. The project will experience issues that cannot be appropriately addressed if dangers are not recognized, classified, prioritized, and planned for.

3. Cost Estimation and Quality Satisfaction

Only with a precise cost estimation performed utilizing a top-down or bottom-up method can any product or service innovation be pursued to a successful conclusion. A project manager can divide the project into units using the bottom-up methodology, and each unit’s cost can be determined using metrics such as cycle time, resource usage, cost per person, and others. The project budget is then calculated by applying this to each unit. The top-down estimation strategy takes a more all-encompassing approach, considering significant spending headings, recurring and one-time expenses, as well as other parameters. Without realistic, pessimistic, and optimistic estimates, cost estimation is incomplete.

To satisfy quality standards and guarantee client satisfaction, cost-benefit trade-offs are one of the main duties of the project manager. So, the expense of quality management–which implies higher productivity at lower costs to fulfill stakeholder expectations– should not be neglected. 

4. Scalability, Interoperability, and Portability

First, a project manager must act quickly to determine whether a system or method being used to carry out a project can be “sufficiently” scaled to satisfy client requests.

Second, the project manager must be able to determine whether the software and hardware components may be set up differently to provide various organizational capabilities. It’s also crucial to determine whether a program or process can be converted to operate on a different operating system without requiring extensive rewriting.

5. Reporting and Documentation

The only way to maintain order and a sense of single-minded purpose when there are so many people working to bring a concept to life is to make sure there is a mechanism in place to report every small detail. Time logs, timetables, letters, and photographs are a few examples of documentation elements that, when recorded, offer proof, compile work, and highlight the project.

6. Communication

A proper medium (telephone, fax, encrypted, messenger), different channels (emails, memoranda, reports, press releases), and message structure (five W’s, i.e., Why, what, Where, When, Who, and one How) must be in place for communication to be effective.

As a result, managing every area of a project shapes the project manager’s communication style.

7. Strategic Influence

About stakeholders, suppliers, clients, end users, sponsors, governing bodies, steering committees, project team members, resource managers, and industry peers, a project manager’s sphere of influence is expanded by their various duties.

Conclusion 

The project manager is a flexible professional that employs a variety of knowledge, abilities, procedures, and methodologies to interact with internal teams and external stakeholders to contribute to the development of a technique or item that helps society. Not only are the duties many, but so are the roles played to complete a project successfully. A project manager’s management skills can be enhanced by traditional knowledge and experience, but industry-relevant certification is a big help in handling all job roles. So, give yourself a chance to enhance your Project Management skills, and excel in your career with Project Management Course at DeMont Institute of Management and Technology, UAE.

How Are Managements Tending to The WFH Culture Shift with Employees Back in The Offices?

Life has been nothing short of a dramatic turn of events from 2019 – 2021 (though we technically still are in the pandemic). Especially for the major portion of the population that commutes to work – be it a desk job, an on-field job or any other job that required assistance over the phone or in person. As humans are categorically social beings which means we are in constant need of communicating through words, touch or emotions – the entire phase of the lockdown was tumultuous and challenging to say the least.

With the changing times in the last 3 years, we have seen a significant transition in the way work places have shaped. The boon of highspeed internet and advancement in video-calling platforms we have come far. Be it educational institutes, hospitals, restaurants; the need to adapt and survive the crisis was a priority to many.

Companies and business houses at large had to get accustomed to their employees working from home, which is the new trend for most of the existing companies and start-ups together. The WFH aka Work From Home culture has allowed the employers to think out of the box and at the same time provided with the opportunity to the employees to understand and adapt to Flexi Time (an arrangement between the employer and employee to choose the start and end time for their working day) working hours. With several people working remotely during this period has also opened doors to prioritizing actual work and responsibilities in their personal life and allowing them to be available to their family’s disposal.

Being said that, once the lockdown rules were relaxed and life started moving forward, several concerns raised:

  • Is it necessary to go back to the office?
  • Isn’t work from home a new lifestyle that most of us adapted to?
  • What about the mental health of those employees who have lost their loved ones to covid 19?
  • What about choosing the right technology for effective communication?
  • Isn’t it time to address the slack of outdated work policies with optimum alternative policies?
    And most importantly,
  • How can we ensure the help that employees might need to an overall transition from WFH?

Several organizations have undergone a drastic change which ranges from the overall business models to a shift in the consumer’s behavior. Understanding the gravity of the situation and the market’s demands, the companies have had to conclude and make decisions on the following grounds:

A. Providing options for a variety of workplace paradigms.

  1. Hybrid working arrangement allows the employees to work based on the priority of the task assigned to them, be it at the office or from the comfort of their homes.
  2. Compressed or shorter work week allows people to be more productive and effective with their contributions to their workplace.
  3. Job sharing or part time work and Snowbird Programs are a new norm in several parts of the world to be more accommodating.

B. Prioritizing Mental Health of the employees.

  1. This is the right time to organize social events to engage employees in conversations and listen to their perspective about the work in general and take notes on their feedbacks. This is also a great platform to identify talent and give them the opportunities to excel at work.
  2. Check on the employees more routinely than usual. Exhibit a culture of kindness and active listening so that the employee feels safe and would want to flock back and contribute to their teams in general.
  3. Setting work boundaries is also one of the most important factors when it comes to addressing the mental health of the employees. Burnout is real so and it can only be controlled by understanding the capacity of individuals and their skills. Assign and reassign tasks as per capabilities and situations.
  4. Be fair in deciding who works remotely depending upon the situation and analyze with the right information and data. This will work effectively when the leaders take responsibility to be fair to all. Trust and loyalty are built through example.

C. Choosing the right technology in the workplace.

  1. The support technology provides to working remotely is only possible if the companies customize their requirements into a workable technology for the employees to stay connected and work around with.
  2. Technology also supports security of data which in return boosts productivity and reduces the consumption of time.

Leaders must take initiatives to make the work environment much more relevant and engaging to accelerate business and as well as employee’s willingness to work for you. We have seen businesses function even more effectively with the unforeseen challenges it had to face in the period of the pandemic.

Different management styles and practices have emerged from different work cultures.Tapping into new management trends is of utmost importance for management to ensure consistent progress of the organization. The programs, such as HND in International Business, HND in Human Resources; as well as continued professional development courses like Certified Manager and Certified Team Leader, offered by DeMont Institute of Management and Technology, equip professionals with new-age management practices.

Importance of a diverse team in an organization

The founder of the Order of the Missionaries of Charity Mother Teresa has beautifully quoted on teamwork “None of us, including me, ever do great things. But we can all do small things, with great love, and together we can do something wonderful”. It is rightly said that teamwork is important, even more so in today’s digital world. The reason is that a team can find a better solution quickly which ultimately results to attaining higher productivity. Teamwork also helps to increase learning opportunities as the members of the team are from different backgrounds or areas of expertise.

Therefore, we can say that diversity creates dimension in the world. Diversity is the key to happiness in society. Apple CEO, Tim Cook, in his response to students’ questions at Trinity College in Dublin mentioned that “A diverse team is more than academic; they bring life experience”. He strongly believes that future companies will be the most diverse as compared to organizations in the past.

Figure 1. A team of diverse employees

Creativity is essential to the success of an international firms and diversity encourages innovation by providing fresh perspectives and a deeper knowledge of customer needs. Anywhere innovation may occur, and without a diverse workforce, opportunities could be overlooked. A diverse workplace is an asset because it recognizes the unique talents and potential that each person brings. Respecting one another’s diversity is what ultimately unites us all and can be the key to a prosperous company with the fair work culture. Characteristics of diversity include understanding, acceptance, and appreciation of variations in terms of race, ethnicity, gender, and age, as well as education, abilities, and experience.

Why a diverse team is an asset to any organization:

Helps to increase creativity and innovation

Businesses should always innovate if they want to remain competitive. The culture and education of the workers from various backgrounds give them unique insights and points of view. Each of them contributes a different mindset to the project they are working on, and they can push each other, which results in the creation of unique and diverse ideas. In this way, the team’s creativity is encouraged and the ability for innovation is strengthened.

In a study that was published in the journal Innovation: Management, Policy & Practice, the authors examined the degrees of gender diversity in the R&D teams of 4,277 Spanish enterprises. Using statistical models, they discovered that during two years, businesses with more women on staff were more likely to develop ground-breaking new ideas.(Rock and Grant, 2016)

Assist to motivate and retain existing/new employees

Staff retention and motivation are factors influenced by diversity as well. If the employees feel they are accepted, valued, and empowered they will be happy, more motivated, and productive and it is easy to retain them. Therefore, businesses with greater diversity are probably to see lower staff turnover rates, which leads to less time spent on recruiting and reduced training expenses.

Connects with a huge number of customers around the world

Every company needs a diversified workforce if they want to market to a variety of consumers. A company must ensure that the business appeals to a larger target market by hiring people from a variety of backgrounds, languages, etc. The personnel will be able to relate to customers from all walks of life since they come from diverse backgrounds. For instance, Amazon e-commerce tech giant has more than 310 million customers (eTail Boston 2020, n.d.). It is because this company has the most diversified workforce which results in connecting many people across the world and ultimately converting them into real customers.

Boost revenue

Any business must prioritize growing its revenue. The ultimate objective of raising earnings will be closer to reality if a company takes full use of a diverse staff. Companies with a diverse workforce and enhanced creativity produced 19% more revenue than businesses with lower diversity scores, according to a recent study by the Boston Consulting Group. The stats provide the evidence. (Lorenzo, 2020)

Improves employer brand and global reputation

The importance of workplace diversity in establishing the company’s outstanding reputation cannot be overstated. As a result, the company and its employees experience enhanced profitability and equality of opportunity. Therefore, businesses that support diversity have a good reputation around the world. As a result, the employer’s reputation and reputation for ethical and fair employment practices are improved.

Understanding the need for diversity in team is especially important to business owners and human resource professionals. DeMont Institute of Management and Technology offers programmes such as HND in Human Resources and HND in International Business that covers topics such as the importance of diversity at workplace and its relevance to present-time job market.

References

‌eTail Boston 2020. (n.d.). Amazon’s Social Media Marketing Strategy To Inspire Buyers. [online] Available at: https://etaileast.wbresearch.com/blog/amazons-engaged-buyers-drive-social-media-revenue.

Kennedy, J. (2015). Apple CEO Tim Cook says diversity leads to better products. [online] Silicon Republic. Available at: https://www.siliconrepublic.com/business/apple-ceo-tim-cook-says-diversity-leads-to-better-products#:~:text=%E2%80%9CA%20diverse%20team%20is%20more [Accessed 27 Aug. 2022].

‌Lorenzo, R. (2020). How diverse leadership teams boost innovation. [online] BCG Global. Available at: https://www.bcg.com/publications/2018/how-diverse-leadership-teams-boost-innovation.

ResearchGate. (n.d.). (PDF) Diversity in organizations. [online] Available at: https://www.researchgate.net/publication/304190988_Diversity_in_organizations.

Rock, D. and Grant, H. (2016). Why Diverse Teams Are Smarter. [online] Harvard Business Review. Available at: https://hbr.org/2016/11/why-diverse-teams-are-smarter.

Refresher on The Impact of Globalisation on Businesses

Globalization is generally referred to as the expansion of the flow of products, services, capital, people, and ideas across international borders. Professor Forest Reinhardt, who teaches Global Business at Harvard Business School, claims that “we live in a globalized age.” In other words, national economies are linked to one another more closely than before.

A firm grounding in the fundamentals of business globalization is essential, whether you’re trying to learn more about a multinational company or considering expanding operations abroad. Individuals must understand what it means to be an international firm, things to think about while addressing the global business scene, and how to increase your knowledge are all covered in this primer.

Globalization’s effects on enterprises

Businesses must constantly adapt to both internal and external environment changes. With increased globalization and the use of new technology, change is occurring more quickly, which makes markets more competitive and complex.

Why is there a rise in globalization?

  • Expanding options for transnational commerce and streamlining capital transfers.
  • Desegregation makes it possible for foreign businesses to compete for local contracts.
  • A rise in competition brought on by foreign investment.
  • The expansion of emerging markets, such as those in BRIC nations.
  • Global strategies building corporate awareness on a worldwide scale.
  • Global corporations gain economies of scale and a competitive edge.
  • Modern production methods enable resource cost reduction and location flexibility.
  • More acquisitions and joint ventures let companies reach international markets.
  • Two-way skill transfers as multinationals establish themselves in new markets and hire locals.
  • Transport expenses have decreased, for example, with bulk containers.

Different types of globalization

Economic globalization

The continual improvement of procedures, taking advantage of chances and overcoming obstacles in global economic activity. The spread of capitalism, a surge in market trading and exports, and the development of international economic policy are a few examples.

Cultural globalization

The dissemination and exchange of cultural values, customs, and concepts. The development of K-Pop is one example of this (Korean pop music).

Digital globalization

The speeding up and strengthening of global connections through the exchange of data and information through digital platforms. Big tech platforms like Facebook, Instagram, and YouTube are some examples.

Financial globalization

The expansion of international financial systems and the exchange of money internationally. Examples include the global stock market, which is dependent on the whole economy and where the performance of one market affects others.

Geographic globalization

The dynamic organization of many nations and regions in the world. Examples include the exchange of visas between a few nations, which allows citizens to readily travel, work, and reside elsewhere.

Political globalization

The growth and influence of multinational organizations that make decisions about acts and regulations on a global scale. These organizations include the United Nations, the European Union, and even the World Health Organization.

Ecological globalization

Relates to the emerging idea that we should all be accountable for taking care of the Earth as one entity. One instance is the COP26 summit, where nations from all around the world joined forces to combat climate change as a single global team.

Impact of globalization

The lowering of obstacles to selling abroad is referred to as market globalization. Since lower tariffs keep consumer costs lower and fewer limitations when crossing borders make it easier for a company to access a foreign market, this shift will make it simpler for your company to start selling items worldwide. Additionally, it indicates that businesses should consider various cultures when creating their business strategies and may need to change their product offerings or marketing techniques if they are not appropriate in the target nation. In the case of the camera sector, this might not be a problem, but a hamburger company expanding into India would undoubtedly need to review its offerings and business models.

Production globalization is the practice of obtaining goods and services from elsewhere to benefit from regional pricing variations. To cut production costs, you may, for instance, source materials and components for your cameras from several different nations before assembling the finished product in yet another foreign country. Given that the cost of production is reduced, this adjustment should result in cheaper costs for customers. Additionally, it affects employment since production may move from one nation to another, typically from more developed nations to less developed nations with lower average wages.

Summary

No generation before us has had the chance to create a global economy that leaves no one behind. It is a great chance, but it also comes with a lot of responsibility. Globalization must be advantageous to everyone if we are to live in peace and prosperity as one planet. The rising global connectivity of our world in all areas is inevitable, but it’s critical that the risks and difficulties that come with globalization be not overlooked.

So, what can you do right now to combat the problems caused by globalization? You may do your part to keep people accountable by staying informed, involved, and up to speed with the most recent forms of globalization and developing your own ideas on its role in contemporary society.

DeMont School of Management and Technology offers multiple programmes such as the and HND in International Business that offer deeper understanding of the cause, effects, impact and outcomes of globalisation on businesses. 

References:

https://www.investopedia.com/terms/g/globalization.asp

https://core.ac.uk/download/pdf/33812244.pdf

Keywords that Managers and Team Leads should Add to Their CVs

An individual’s resume is an integral part of their profile as a manager. The inclusion of certain keywords whilst describing your experience to recruiters helps in demonstrating your expertise and can make a huge difference in your job prospects.

The inclusion of such keywords can be done intentionally according to the requirements of the employer. Even though research of the top keywords to use and applying it to your skills will help you highlight the reasons why you would be perfect for the job role offered. Analyzing your qualifications and presenting them in an effective manner is what writing a resume is all about.

Managers and team leaders must display their ability to keep track of the workflow within their team and take responsibility for the company’s goals. Since recruiters receiving applications look for applicants who understand their responsibilities, you must employ all aspects of language in your resume. These can be words that illustrate your responsibilities, adjectives that describe your skills, or industry terms that explain various facets of management.

Below are some of the qualifications that are often sought after in management roles :

Team Building : A manager must possess the ability to develop a culture of collective responsibility and cultivate the skills of their team members. A key component of every manager’s resume is the ability to select, train, and supervise other employees. Keywords such as human resources, interviewing, recruiting, team engagement, workflow management, delegation, collaboration, etc. can help in highlighting the various skills that a manager employs in leading their team.

Business : Candidates for managerial positions must have a solid grasp of standard business procedures and industry best practices. Your management resume should emphasize your business-related abilities and responsibilities because managers oversee many different business tasks and help the company achieve its overall goals. Describing your experience in fields such as finance and operations can help in highlighting your understanding of business. Keywords such as asset management, business analysis, profit and loss, supply chain, finance, logistics, corporate responsibility etc. can help in illustrating your qualifications and understanding of business.

Relationship Development : Employing resume keywords that highlight your capacity for interpersonal interaction and connection-making is crucial since good managers should be able to manage both internal and external relationships on behalf of their company. When describing your experience dealing with clients, customers, project managers, community groups, stakeholders, investors, and other important people within a firm, you can utilize relationship development keywords such as partnerships, networking, customer relationship, outsourcing, community engagement etc. can help in demonstrating your abilities to develop relationships as a manager.

Problem-solving : Addressing team or operational issues before they have a negative impact on the business is one of the main reasons businesses hire managers. Employers may look for keywords linked to resolving interpersonal conflicts, logistical problems, misunderstandings, and inefficiencies depending on the type of business. On your resume, you can highlight your ability to evaluate the facts of a situation, identify the root causes of fundamental issues, and come up with feasible solutions using the resources at hand. Keywords such as critical thinking, decision making, resource management, conflict resolution, adaptability, risk management etc. can be used to showcase your problem-solving skills.

Communication: Communication is one of the top qualities employers seek when hiring for tasks that require management since managers serve as a bridge between a company’s leaders and the specific employees handling each crucial task. You’ll assist your team members in interacting with one another, creating documents that explain corporate regulations, and interacting with the general public as a manager. The strategies and channels you employ to convey information to your team are identified by communication keywords. Keywords such as confidence, persuasion, presentation, constructive feedback, active listening, correspondence etc. can be used while writing about your skills to demonstrate your communication abilities.

Keywords should be spread out in as many parts of a resume as possible. The inclusion of certain keywords can make your application stand out to recruiters. Employers will appreciate a resume that matches more keywords to their needs. By using the appropriate context for your keywords, you can keep the hiring manager’s interest and persuade them to set up an interview.

5 Tips to Choose the Perfect Career

Majority considers career or work as one of the main priorities in life and getting stuck in a wrong job can be frustrating and can impact the personal life as well. Choosing the correct career is very important as it marks the first step towards the professional life. Sadly, survey shows that only less than 50% of U.S. workers feel that they are in good jobs, that shows more than half U.S. workers are unhappy in their jobs. Indeed’s latest ‘Work Happiness Score’ survey has found that three fourth of UK workers are not happy in their jobs most of the time. The reasons behind such statistics are many but a study published in Indian Journal of Commerce & Management Studies, showed that employees who make the right career choice are more likely to be satisfied with their job. Appropriate career choices and job satisfaction have major health effects on a person’s wellbeing.

 

Job expectations

Making a major career change or choosing a career is a huge professional and personal decision According to 2022 statistics, only 21% of college graduates pursue a career based on their qualifications and 39% of the people consider changing their careers based on salaries. Additionally, 70% of the workforce is actively looking for a career change. Due to several factors a constant need for career change is observed and some of the job expectations include the following:

 

Work-life balance plays a major role when choosing a career. Survey done on the impact of 2020 shows that work from home has increased overall global job satisfaction and Owl Lab’s 2020 State of Remote Work Survey Report revealed that work from home has become a requirement for work happiness for a significant portion of the workforce. The survey also uncovered that 46% of professionals surveyed would seek out a new position if current employers demanded a full return to the office. As the job expectations are changing, the need for career change is also observed worldwide.

 

Factors Affecting Career Choice:

While key factors while choosing a career may vary from person to person, following are a few basic reasons for professionals to seek new job opportunities:

 

 

5 Steps Assess Career Possibilities:

Knowing the above factors alone cannot make the process easy. Many times, it is stressful to choose the perfect career, but the process can be simplified by following certain steps.

 

. 1. Assess Yourself

This is a crucial step in choosing your career. Assessing can be done in many ways. It can be done systematically or even in an informal way. This includes understanding yourself, knowing your strengths, identifying your passion, and even understanding your weaknesses.

This step will help you to understand about yourself and knowing what your priorities are. It can be started by jotting down your likes and dislikes, asking your friends what your strengths and challenges are, asking yourself the same question, and understanding what excites you (it can be travelling, talking to people etc.)

You can get the guidance of a professional too. Taking aptitude tests, personality tests (like MBTI) and attending career counselling can make it easier. Career tests come in various forms, including questionnaires, card sorts, and multiple choice and short answer tests.

2. The long list

You can write down all the careers that can match your personality, likes, strengths etc. This can be the step where you can be creative and write down every single job that can interests.

Sometimes it is even fine if you go out of the box and include uncommon career paths or even the daring ones. It’s OK to feel different or misfit because only if you dream big, you can achieve the unachievable. As the psychologist Dr Ronald Fischer said, job choice and autonomy is more directly related to happiness than having lots of money.

. 3. Explore Your List

In this step, you explore all the options that was included in the list. This step forms the basis for your decision. Get all the information on the occupations you are interested in. You can use social media, online searching, talking to friends, parents, and other adults to know more about the options. You can also use LinkedIn to talk to professionals in the same or similar positions and even conduct informational interviews. Use all the possible methods to get the maximum information on all the job options.

4. Short List

Once you have all the details on the different job options that suit you, it is time to remove all the disinterested and unappealing options. You can have 5 to ten options in the final list. You should consider all the factors that can make it the best option or the worst. You should also identify your must-haves. It can include the monetary part, growth opportunity, limitations, and feasibility.

The important point here is, “Do not let others make the decisions for you.”  According to this survey, students are most influenced by family when choosing a major; 22% chose family as the most important factor influencing their choice of major.

5. Make Your Career Choice

Considering all the points discussed before, a final decision should be taken here. Sometimes you are stuck between two appealing options. In this case, go to the step four and do more research on the two occupations.

Make sure you choose something which you know is challenging and interesting because only ifyou are challenged you grow more otherwise it can lead to burn out. Once you choose your career path, identify your goals (short-term and long-term), and write a career action plan. It might be too soon in your career journey but it’s always good to have goals that can keep you on track. It can be as simple as “getting a degree” or “doing an internship”.

Remember that this need not be your last decision. It is OK to change your decision, try something new or change the career path in between. In the end, you should feel content and motivated when you are at work. As David Suzuki said, “It is not too late to take another path.”