Friday, September 30, 2016

Trust – The Most Important Aspect For Building A Strong Team

There is no denying the fact that the success of modern business organizations is based on the kind of workforce they have.  Depending on the size and type of organization, the workforce might comprise of a single team of 10-12 (or even lesser) employees, or multiple teams managed by individual managers and team leaders. However, irrespective of the size of the teams, the one thing that plays the most critical role in making it truly strong and highly productive is the mutual trust between its members.

Most professional executive search firms make it a point to constantly remind that client organizations about the significance of creating a work environment, which promotes the sense of trust between employees to get the following benefits.
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Greater Trust Ensures Better Co-ordination
When the people working within a team enjoy a high level of trust amongst each other, they are able to work towards the achievement of organizational goals in a more coordinated manner. This directly impacts the productivity of the not only the group but also the business organizations, which tends to progress at a far greater pace than expected. The organization tends to gain a strong position in the market and also attain better financial results.

Minimizes Discord Between Employees
With the employees sharing a relationship of trust, the chances of conflict and discord between them are minimized. This helps the managers along with the team to focus on more important tasks and processes necessary for organizational growth. It also helps, save the time and money of the management that might otherwise be spent in settling the disputes between employees or worse replacing them with new ones.

Creates An Effective Communication Channel
 The leading companies, offering executive search India service, stress on the importance of candidates having efficient communication skills. However, it is important to understand that these skills work fine only when the candidates are able to win the trust of their co-workers. In an environment, where people don’t trust one-another, it becomes nearly impossible for individuals with even the best skills to establish an open and frank channel of communication. However, if the team members have faith in each, other open communication becomes a norm and does not need to be established.
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Develops A Sense Of Collective Responsibility
It has been observed that teams where the members believe in each other tend to be more responsible and less prone to failure. This is because the members have complete faith in the skills and abilities of other members and hence if something does not go right they are willing to take a collective responsibility for the same. This is the most essential aspect towards building a strong and united team that works as single entity.

Reduces The Risk Of Failure
One of the most important benefits of developing a sense of trust between team members is that it reduces the risk of failure by a significant margin. This is because each member puts in his or her best effort to ensure the success of the team, even at the cost of putting their own growth and success in the sideline at least until the time the team objective is achieved.

Tuesday, September 27, 2016

Getting Value For Talent In The Millennial Era

Work performance is what firms are interested in, and a fair amount of research has been done to answer the question, “How to get the best out of people?” Other issues that firms grapple with are,” How do investments in people affect work performance?” “Who are our star performers?” “How to get people to give their best shot to work?”

Human Capital-Centric firms always keep people interests as their priority. Managing Human Capital is an elective course at the Harvard Business School and stresses on optimising the Human Capital lever to achieve high performance. In the words of Peter Drucker, “Every existing society, even the most individualistic one, takes two things for granted, if only subconsciously: that organisations outlive workers, and that most people stay put. But today the opposite is true. Knowledge workers outlive organisations, and they are mobile. The need to manage oneself is, therefore, creating a revolution in human affairs.“
Executive Search Firms
Managing human resources in the 21st century with the millennial workforce is a far cry from days of transaction based Human Resources. Employees actively manage their careers and are far more aware due to the impact of digitisation and information availability. There is a global increase in the mobility of talent and job searches are not made while in between jobs rather while still holding a job; this is where Executive Search firms play an increasingly active role.

How should firms manage Human Capital in this Changing arena? Top firms are already using sophisticated ways to analyse employee data to bolster their competitive advantage. Organisations like Starbucks are using metrics (analytics) over gut instincts to understand shifts in employee engagement. Google & AT&T  use quantitative analysis to establish that a demonstrated ability to take initiative is a better predictor of on the job performance. A common occurrence of employee attrition can be seen approaching through data analysis again.  An employee whose compensation plan does not reflect long-term or deferred gains may not be in for a long tenure.

Analytical HR comes here to help firms. Human Capital facts, Workforce Forecasts, Talent Supply Chain and Human Capital Investment Analysis help answer the toughest questions about handing people that matter.  Significant issues like leading indicators of organisational health, attention requiring departments and positions and staffing could be addressed by taking care through HR analytics.
Executive Search Firms
Building Talent analytics requires data, enterprise orientation, support from leadership and of course analysts. HR systems can provide reliable data for analysis. An initiative like analytics approach requires organisational, and leadership support to culminate into productive action. Firms like Intel and Royal Bank of Scotland have HR analyst groups to facilitate talent analytics. As organisational performance is linked to its people’s  abilities and motivation, talent analytics would be of great service.