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News You Can Use |
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Employee Development Systems, Inc. Newsletter |
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December 2006
“If we are going to go anywhere, we’ve got to have talent. And, I’m going to put my money in talent.”
-Ray Kroc
Founder McDonald’s |
Bureau of the Census
Bureau of Economic Analysis
| Goods and Services Deficit Decreases in September 2006 |
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The Nation’s international deficit in goods and services decreased to $64.3 billion in September from $69.0 billion (revised) in August, as exports increased and imports decreased.
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| Leading with Credibility |
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There are countless skills and competencies that a leader needs, but one which there is some consensus is the need for vision. Also, bold moves are oftentimes necessary. Why not move the United Nations to Baghdad? As a body, it is corrupt and totally ineffectual. The Middle East is the cauldron for terrorism and hatred. If the nations of the world want peace, then a move to Baghdad is what we need, now. |
Preparing for a Skills Shortage, Work Intensification
Employee Benefit News (11/06) ; Bernhart, Molly |
As the Baby Boomers retire and the size of the workforce declines, U.S. human-resources professionals are increasingly concerned about the need for remaining employees to take on new work and to acquire the skills the boomers have built up over their careers. U.S. companies expect to lose at least 11 percent of their present workforces because of these retirements, but many companies are only just becoming aware of the problem, and only 35 percent are starting to look at internal policies and management practices in preparation. Management should already be putting together strategies for investing in training new employees and restructuring the work force: "We need them to work harder than ever before, we need them to work faster than ever before, and we need them to work together better than ever before," says Deloitte Consulting's Robin Athey, author of "It's 2008: Do You Know Where your Talent Is?" Companies can attack the workforce problem both from the supply side--by recruiting more aggressively and adopting tactics such as internal mobility and alternative work problems to improve retention--and from the demand side by improving productivity, automated technology, and customer self-service capabilities. Deloitte's Tim Phoenix says that managers should also become aware of who the most "critical talent" in the company is, the people who drive the most added value in the business--not necessarily the top decisionmakers or top performers, but, say, couriers who know the supply chain intimately and have contact with clients each day. Meanwhile, as the retiring employees work to impart their knowledge to others, employers also need to find ways to cut down on workplace stress factors in order to make knowledge transfer easier, and they can also improve workplace flexibility to cut down on employee burnout. In fact, many boomers are resisting retirement altogether, and employers can capitalize on this by making the workplace an appealing place to remain rather than retiring. |
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Link Recruitment, Development and Business Goals to Add Real Value
Personnel Today (11/07/06) ; Causon, Jo |
Despite corporate investment in training and development in the United Kingdom, only 20 percent of managers believe they are qualified for their jobs, according to the Interim Leitch Review of Skills. However, the managers surveyed reported that they wanted to excel in their jobs, indicating that companies may be failing to help them achieve their goals. Human Resources should develop meaningful training programs that produce tangible results as well as suit the needs of both the workers and the company. During the hiring process, companies should consider how an applicant's skills will fit with the rest of the team in order to reduce redundancy and make sure each worker is best suited for his/her specific role. The review found that many managers feel insufficiently trained or directed, held back by bureaucracy, and that their needs are going unmet. If the situation does not improve, morale, motivation, and productivity will decline. |
Put Me In, Coach!
Employee Benefit News (11/06) ; Butler, Kelley M. |
The Houston-based oil company National Oilwell Varco (NOV) has adopted a training-camp and draft-pick system similar to the one used in professional football as a way of bringing in the most promising employees just out of college. Started up in 2003, NOV's NextGen program was the company's "first effort at recruiting university students on a wide scale," says Lindsy Williamson, manager of university recruiting and retention. NOV goes to about 10 Midwestern and Southwestern colleges each semester to find 20 to 30 people for the NextGen program, "looking for students with strong values, willing to live in Houston, and we target university departments where we think students' skills and interests would be a good fit--business schools, engineering, finance, but also arts and sciences," says Williamson. The first week of the training camp is an orientation, where recruits meet top managers and are assigned mentors, and then comes a year of there-month rotations in four business units at 550 NOV locations around the world. The last three months of this rotation year sees the heated competition over the best employees to draft, and Williamson works to keep this competition healthy, helping out by distributing "draft books" containing managers' evaluations of the NextGen recruits. Just before draft day, the NextGens give 10-minute presentations about their rotation year, and then draft day brings three rounds of selections--which can include trading and giving away draft picks, just like in the NFL. Word-of-mouth buzz seems to indicate that the NextGen program is a success, says Williamson--"We'll get applications from schools we didn't even go to"--but hard numbers and the past NextGens' experiences show the success of the program as well, she says. |
Connecting Workers From Different Generations Essential, Workplace Expert Says
Bend Bulletin (OR) (11/14/06) ; Sowa, Anna |
Areas of the country are witnessing labor shortages, thereby resulting in high competition for the most qualified employees. As such, numerous companies are hiring people they would not usually target, such as retired employees or baby boomers working beyond retirement age. Bend, Ore., Bend Memorial Clinic training manager Dana Barz provides suggestions for retaining and overseeing the various generations. Veteran employees want to be valued for their know-how and experience, and health insurance benefits are a large concern; as such, do not force the employees to change, but rather provide them time to think and discover in their own way. Baby boomers require flexible job schedules because they may continue working following retirement or are taking care of older parents; provide them chances to learn and expand their job skills; involve them in business decisions, and make certain they feel needed and valued. Generation X employees require feedback and confirmation they are performing well. Meanwhile, Generation Y employees have to feel like they are contributing; are creatively challenged; favor electronic communication; and are happy multitasking and working with other smart, innovative individuals |
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| "Abstract News © Copyright 2007 INFORMATION, INC." The link is to http://www.infoinc.com/copyright.html. |
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