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Scooped by
Ann Zaslow-Rethaber
April 20, 2020 3:37 PM
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HR leaders need to look at diversity and inclusion from both the recruitment and succession planning perspectives to ensure the lifecycle of diversity leadership continues and grows, writes Purnima Nandy Organisations across industries and geographies are waking up to include diversity and inclusion in their strategic plans as an answer to becoming more employee-friendly and competitive in the market. So, what is diversity and inclusion? Diversity can be understood as acknowledging individual differences and the unique blend of knowledge, skills and perspectives people bring to the workplace. Diversity is identified as surface level and deep level diverse. Surface level diversity can include characteristics such as cultural background and ethnicity, age, gender and disability, for example, while deep-level diversity is understood by sexual orientation, religious beliefs, language and education to name a few. An inclusive culture is one where everyone feels valued and respected and is able to fully contribute. However, being recognised as a diverse and inclusive workplace is more than just hiring diverse employees; it is about in the truest sense making them feel a part of the organisation without constantly being identified as different. “This diversity fatigue in organisational leadership is a huge gap in truly incorporating diversity and inclusion into the organisation’s culture and DNA” Below are a few best practices followed by organisations to ensure the success of their diversity and inclusion strategy: - Recruiting a diversity and inclusion manager: Many organisations today have a separate department for diversity and inclusion often under HR leadership to handle challenges and issues of a diverse workforce. The role of a diversity and inclusion manager is broadly to iron out conflict and keep the heterogenous workforce motivated and to ensure that the organisational culture and environment is positive and engaged.
- Diversity goals in the team lead’s performance appraisal: Other than the business and team management goals, team leads and managers are assessed on how they are managing diversity in their teams. Diversity goals could include having projects to include a diverse team member, putting together team building activities or arranging for training sessions to upskill diverse team members and give them a fair playing field.
- Diversity and inclusion policy: Most organisations have put a diversity and inclusion policy into place to formalise this decision and to also protect and empower the diverse employees. Putting a policy into place gives all employees certain guidelines on what the organisation vision and goals regarding diversity are.
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Ann Zaslow-Rethaber
April 17, 2020 11:56 AM
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Clarity in turbulence and disruption:
You always go with your highest point of clarity when making decisions.
In turbulence, there’s more fog. You always have multiple options, but options seem less certain when fog rolls in and you can’t see the shore.
The point of clarity is lower in turbulence.
During normal days you move forward when your point of clarity reaches a 7 out of 10, for example.
During disruption your point of clarity might only reach a 5 out of 10, but it’s your highest point of clarity. Go with it.
Danger:
Confusion contaminates clarity.
Don’t let what you don’t know obscure what you know. Confusion in one area has the power to make everything seem confusing.
Confusion invites defensiveness and stagnation.
You always have points of clarity. Your mission to serve others is clear, for example.
7 ways to find your highest point of clarity:
#1. Reconnect with purpose and mission.
Don’t let the small picture overshadow the big picture. The question is how, not if, you live your mission.
#2. Find clarity as you go, not before you go.
Do something as long as you’re reasonably certain it won’t cause harm.
Progress during uncertainty is stumbling forward and bandaging your knee.
Action simplifies complexity.
Learning what doesn’t work is unglamorous, but necessary in the fog.
#3. Try short-term solutions.
Inaction won’t create the future you desire.
“Just for today,” or “Just for this week,” lets try….
#4. Avoid big experiments with scarce resources.
#5. Bring in outside voices to expand your approach and encourage your team.
#6. Stay open.
Choose agility over self-insulating inflexibility.
#7. Avoid decisions that lock you into long-term obligations.
How might leaders find their highest point of clarity?
What’s dangerous about going with your highest point of clarity?
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Scooped by
Ann Zaslow-Rethaber
April 17, 2020 7:00 AM
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More than ever before, many companies are asking their employees to work from home to remain safe and unaffected. As the coronavirus (COVID-19) continues to capture headlines in the news and spread rapidly, employees are struggling with finding a sense of calm and stability throughout the ever-changing updates and reality that this virus has become our new normal for the time being. So what does that mean for the employees who are fortunate enough to work remotely? Although working from home has many benefits, some being flexibility, increased productivity, zero-commute, and more quality time with your loved ones, working remotely also could make it more difficult to power off and unplug from your workday, ultimately decreasing your work-life balance. Work-life balance, especially during uncertain times like COVID-19, is essential to employees’ growth and personal happiness and company retention. When employees are encouraged to find a positive work-life balance, they tend to be more motivated to produce great work. Here are our 11 tips to achieve work-life balance when working remotely: 1. Set a structured work schedule. To maximize your productivity and your workday while working remotely, it’s imperative to set a cohesive schedule for yourself to guide you through the day. Given that working from home can be more comfortable and a bit relaxing compared to being in the office, imposing a structure on your day will limit the distractions and keep you focused on the tasks at hand. 2. Make a to-do list to start your day productively. In addition to crafting a specific structure for your day, curating to-do lists are helpful to ensure that you’re being productive and accomplishing what needs to be done in your role. Physically crossing tasks and projects off a to-do list can be gratifying – especially if you are questioning your productivity levels and progress.
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Scooped by
Ann Zaslow-Rethaber
April 16, 2020 12:34 PM
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Leading HR executives globally are embracing advanced digital platforms to create employee experiences designed to attract and retain top talent and drive business results, ServiceNow® research shows Digital experiences outside of work have made life simpler, easier and more convenient. Today’s top talent is demanding the same at work, and global research of 500 human resources executives across 20 industries reveals that providing excellent employee experiences, enabled by technology, are becoming the new way to win the never-ending war for talent. “The best talent today expects great digital experiences at work,” said Pat Wadors, Chief Talent Officer, ServiceNow. “Top talent can work anywhere, and they are choosing companies that embrace advanced technology to make work simpler, faster, better. A fundamental shift is under way, and top human resources leaders are creating a new employee experience, realizing that great benefits and cool office perks are no longer enough. Employees want great digital experiences that make work, work better for them.” Insights into this digital transformation of the employee experience were released by ServiceNow in “The New CHRO Agenda: Employee Experience Drives Business Value.” “The New CHRO Agenda” report details the Chief Human Resource Officer (CHRO’s) journey to greater impact; how the employee experience is evolving to impact business results and the impact of an HR function’s capabilities on retaining and attracting the best talent. From Tactical Manager to Strategic Leader Over the last three years, CHROs have seen their responsibilities move beyond the core responsibilities of delivering HR services, record keeping and attracting top talent, to a broader role in leading key strategy discussions around advancing corporate goals, driving digital initiatives, and contributing to business performance. - Nearly two-thirds (64%) of CHROs say it’s their responsibility to drive corporate performance.
- CHROs expect their success to be defined by the consumer-like employee experience. In fact, more than half of CHROs (56%) say the ability to create a digital, consumerized employee experience will define their roles in three years, compared with just 6% who say traditional HR will define their role.
- 66% of CHROs say the employee experience will drive quantifiable productivity gains across the business.
- 44% of CHROs expect to be judged on their digitization success achieved not alone but by partnering with other C-level executives to set and manage strategy.
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Scooped by
Ann Zaslow-Rethaber
April 15, 2020 12:06 PM
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If there’s one thing job seekers have in today’s labour market, it’s options. As a result, companies are getting creative in order to attract, retain and engage talent. To do this, they’re putting a greater emphasis on establishing a positive employee experience. A company’s employee experience refers to the way in which employees feel and think about a company throughout the entire employee lifecycle – from their first day at work all the way up to their last. A positive employee experience is imperative; it elevates your employer brand and drives your employee engagement, where workers are passionate about their job, are willing to put in extra effort and are committed to their organization, its values and success. According to a Globoforce study, employees who work at companies ranking in the top 25% highest Employee Experience Index are likely to perform at higher levels and are less likely to quit. We wanted to get a better sense of the variables that contribute to an engaged workforce; what is the perfect blend of policies and initiatives that help attract job seekers and turn them into engaged employees? We surveyed over 2,000 employees in Canada to find out. Let’s take a look at the data. What employer initiatives and activities are front of the line for employees? Contrary to popular belief, our survey shows that many employees are, in fact, engaged at their place of employment. Three fourths of respondents (77%) say they’re engaged in their current role. So, what are some of the efforts their companies are making to ensure they remain this way? In terms of activities, policies and initiatives their company offers, over a quarter (26%) of engaged respondents say their company has established flexible work policies. As workers continue to thrive for better work-life balance, it’s no surprise that 40% of all respondents say that this perk would be most important to them. Following flexible work, over a quarter (25%) of respondents say their employers offer employee perks such as discounts and memberships. .While flex work, ping pong tables and free snacks are often hailed as the ideal employee perks, the survey showed that employee assisted programs, employer-sponsored programs that help people deal with personal issues, are also important. Just under a quarter (22%) of respondents say that their company offered mental wellbeing initiatives such as an employee help hotline. Nearly seven in 10 (68%) of respondents say that mental wellbeing initiatives would be important to them. Considering that 42% of respondents say that their job has at one point negatively impact their mental health due to such things as workload (47%) and long hours (32%), having programs in place to help employees cope is crucial.
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Ann Zaslow-Rethaber
April 14, 2020 7:00 AM
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While finance professionals aren’t traditionally associated with the customer experience, in some organisations, such as insurance companies, they are playing a crucial role in this area. When you consider that the finance department tends to be the final step in the buying process, it becomes less surprising that they are as vital to the customer experience as the sales department. Consequently, ensuring they provide a good level of customer service is essential to encourage repeat custom, particularly as it costs companies six to seven times less to retain a customer than to acquire a new one. With research from PwC finding that almost a third (32%) of customers will stop doing business with a brand after just one bad experience, businesses need to make offering an improved level of service a priority. Here are three ways finance teams can help their organisation provide elevated customer experiences: Customer segmentation Anything that makes things easier for customers will ultimately improve their experience and this is something finance departments can do through the use of customer segmentation. Although its use is more commonly associated with improving the credit control processes, it can also be instrumental in enhancing the customer experience. As finance departments are primarily focused on receiving payment for invoices, tailoring services to customer needs and doing everything possible to enable them to pay on time are a must. Therefore, the more the finance team knows about the customer, the better. This information can be used to adopt a personal approach based on identified needs and requirements. For example, it’s possible to find out how customers want to be contacted, whether that’s via email, phone or perhaps even WhatsApp, and how they like to pay. This data can also be used to group customers into segments and create corresponding workflows which determine how the business interacts with individuals, for instance.By segmenting customers, the finance team can build a better understanding of them and therefore better meet their needs,maintain satisfaction and build a close, long-term relationship with them. Streamline processes Additionally, to improve the customer experience, it is pivotal that finance departments remove friction from and streamline the payment process. The most effective way to achieve this is by offering better digital capabilities and more varied payment options, such as via direct debit or by sending a link to a payment platform. Additionally, more finance departments are adopting technology which allows them to automate repetitive processes that until now have been done manually. As a direct result of this, more time can be spent providing better customer service and focusing more closely on the higher value accounts or those experiencing financial difficulties.
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Ann Zaslow-Rethaber
April 13, 2020 1:28 PM
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As uncomfortable as it might make you feel, money really does make the world go around. Our lives are often influenced by what happens within the financial world, whether directly or indirectly, so it’s not surprising so many graduates decide they want to be more involved by working within the finance industry. According to the United States Department of Labor’s Bureau of Labor Statistics, roles in the finance industry are expected to grow by 10 percent by 2026. This growth is faster than the average for all occupations, adding about 773,800 new jobs. A growing economy, globalization, and a complex tax and regulatory environment are expected to continue to lead to strong demand for employees in the finance sector. But before you make a name for yourself in the finance world, you need to get recruited. How financial recruitment differs The recruitment industry faces different demands dependent on individual sectors. As the financial market is constantly evolving, companies need to surreptitiously hire employees with clearly-defined skills in accordance with stringent regulations. Some of the requirements in financial recruitment include: - Financial employees must be vetted according to stringent guidelines
- Rigid regulations can make it hard for firms to recruit top talent
- Market drives the demand for specialist and clearly-defined skills
Find out how Barclays recruiters find the best MBA students here. The interview You've made it to the interview stage, and now it’s time for you to turn your prospective employee status into a job offer. When the interview comes to an end, it’s important to show finance recruiters how you stand out from the crowd. - Show you’re an attractive candidate
During your interview, it won’t go amiss letting the interviewer know you’re in demand. Show the interviewer you understand the company’s strategic terrain and are able to provide insight and understanding of their competitors’ plans and how to react accordingly.
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Scooped by
Ann Zaslow-Rethaber
April 9, 2020 10:00 AM
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With online job portals like LinkedIn, finding the right job has become so much easier today. From learning about the company you have always dreamed of working for to getting to know the tips and tricks to crack an interview, LinkedIn has made our struggle of finding a job much less of a struggle. As the platform gets more and more popular across the world, it is becoming a challenge to come to the notice of recruiters on LinkedIn. There are thousands of profiles that have the same qualifications and the same experience as you do. To stand out from that crowd of equally qualified and experienced professionals and get found by recruiters, you have to do things a little differently. So, how do you structure or adjust your LinkedIn profile to be found by recruiters? For this, you first need to know how a recruiter sees you. How recruiters search on LinkedIn Optimising your LinkedIn profile to appear in a recruiter’s search results would require you to work on both LinkedIn’s algorithm and a recruiter’s human tendencies. LinkedIn has a search algorithm that considers a variety of profile sections and user activity to rank their results. Recruiters, on the other hand, have their own set of preferences and tricks to select the most suitable candidates out of a sea of thousands. There is no standard or established pattern as to how different recruiters search for candidates on LinkedIn but, of course, depending on the type of business the recruiter runs, their search patterns can be determined with a little common sense. For instance, a small business recruiter will use LinkedIn’s advanced search filters to look for a specific category of candidates within their network. Recruitment agencies, on the other hand, will look for a broader range of candidates with the aim of expanding their networks and increasing their reach This means that when you are setting up your profile on LinkedIn, you must have a clear idea of which recruiters you would like to work for. That would tell you what filters you need to pass through in a recruiter’s search. To improve your search rankings, you will need to optimise those sections which would be most beneficial to the kind of recruiter you are looking for. Keep your profile updated The first and most important thing to take note of when you’re setting up your LinkedIn profile is to not leave any field incomplete. Complete your profile as far as you can, and in case of any changes, update those changes on time. A completed profile tends to get more hits. Use keywords that a recruiter may be searching for. Add and follow as many people and connections as you can. Having a larger network also increases your visibility. Also, try to get some recommendations and testimonials from people you know. A positive word about you as a professional, displayed on your profile could boost your search rankings massively.
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Scooped by
Ann Zaslow-Rethaber
April 8, 2020 2:30 PM
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"Oh no,” the recruiter exclaimed over the phone during my job interview. Up until that moment, the conversation had progressed extremely well. I was about to be connected to the hiring manager at a financial data and technology firm. The tone changed in an instant, as if I’d mentioned interning for Bernie Madoff or demanded access to the corporate jet. But I’d said something worse: I have a disability, and asked what accommodations might be available, such as telecommuting. “We… we can’t offer any accommodation,” the recruiter stammered. Before I could respond, she gave me a curt goodbye and hung up. I have spinal muscular atrophy. Due to my neurological condition, I need certain assistive technology tools and accommodations to work. If you’re like most of the recruiters and financial managers who interviewed me in 2013–14, you just stopped reading this article and tapped your browser’s back button. If you’re still reading, thank you. These are my experiences as a disabled investment professional. Since I completed my master’s in finance over six years ago, I’ve been interviewed for many jobs in the investment industry and related niches. Only one of those interviews, which was for an unpaid internship, led to any actual employment in finance. That particular internship evolved into an equity research associate position — a job that was eliminated within a year when the firm downsized. You might be thinking I’ve identified an HR problem instead of a flaw in the culture of finance. My experience, however, indicates the hesitancy to hire the disabled is primarily a finance issue. While I was sometimes nixed as a candidate by recruiters and HR employees, as in my opening story, I frequently passed the initial interview only to be told that a firm’s partners or a department manager vetoed hiring me. I recall one very positive interview with a real estate investment firm that was looking for someone to manage their financial models, one of my strengths. The HR manager said she would recommend me for the position as a telecommuter. I just needed to A) match my work hours to theirs (I’m in Virginia and the firm was in California) and B) visit the main office on the coast for meetings and “team-building” one week a year. I happily accepted those conditions, as visions of surf and sand danced through my head. “It’s important that you and the rest of the team feel connected,” the HR manager explained. She proceeded to describe the typical end-of-meeting-week party, which must have been quite an experience… and a hefty bar tab.
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Ann Zaslow-Rethaber
April 7, 2020 12:50 PM
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Staying up to date with the latest financial recruitment trends and leveraging new technologies is crucial — both for job searching and the hiring process. The finance and accounting sector has been going through some significant changes lately. So, let’s take a closer look at some of the key finance trends we can expect to affect the recruitment industry over the coming year… - Rising salaries
A lack of pay rises has been a familiar theme for many accountants and financial controllers in recent years. Salaries can vary greatly depending on candidates’ qualifications. However, we’re now seeing many candidates receive multiple offers where top talent has been at a premium, which in turn pushes the salaries bandings up. Through 2020, we can also expect a lift in salaries for accounting and finance roles across a variety of markets. This is largely due to sustainable levels of growth and heightened employer confidence. For further details on salary trends within commerce and industry across the South East, download our 2020/21 Salary Survey. - Updating new business recruitment strategies
In the past, newly established businesses have been slow to hire their heads of finance and financial controllers — preventing them from reaching their growth goals. However, these types of companies are now starting to realize the value of hiring strong accounting and finance professionals early on in the venture. By taking a proactive approach to their recruitment strategy, founders can hope to build a strong financial backbone. This tactic will help them to meet their revenue targets and stay on top of technical accounting challenges. - Bridging the talent gap
Competition is rife for skilled accounting and finance professionals. However, despite high demand, many companies are struggling to fill vacant roles due to growing skills shortages and a lack of suitable applicants. Advances in technology are changing the requirements of finance and accounting jobs. Now, candidates need to be able to do more than just crunch numbers. They need diverse business and technology experience, as well as a range of soft skills. To address these skills shortages, organizations will need to rethink their recruitment process to tap into new talent pools filled with strong, technically skilled candidates.
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Ann Zaslow-Rethaber
April 6, 2020 1:29 PM
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We’re now well into the first quarter of 2020, and despite the global economy stuttering following months of trade tensions and Brexit uncertainty, and the more recent impact of the global coronavirus pandemic, existing trends in the banking sector continue to march on. In this article, partners Paul Gair, Harry Parker, and Tim Waller from UK law firm TLT give their views on what we’re likely to see across three areas shaping banking at the start of this new decade. LIBOR – the end of the road Paul Gair In the run-up to the end of LIBOR in 2021, there has been a marked increase in communications from regulators and the Bank of England since the start of 2020, with the expectation that firms should have‘ clear evidence of engagement’ to ensure that they are ready for the changes. This means that firms are, or at least should be, progressing through their plans for the transition to avoid undue regulatory scrutiny. It is therefore imperative for firms to first understand how the end of LIBOR will impact them and avoid the temptation of adopting a ‘wait and see’ approach. While regulators have provided a degree of clarity about the timeline for the next two years, some pieces of the puzzle are still to be put in place. For example, firms are still awaiting infrastructure upgrades to enable the transition to RFRs and additional guidance on several key issues, such as how to deal with so-called ‘tough legacy contracts’. Over the course of this year, firms will have to address the implications of the end of LIBOR on them, most notably in loan markets where progress is less advanced. In an uncertain environment, firms will need to implement robust communication strategies, address their books of existing LIBOR-linked contracts and consider whether their internal governance structures will still be fit for purpose. It goes without saying that amending the wording of existing loans agreements to ensure that they remain effective after 2021 will be a substantial undertaking for firms, requiring significant time and resource to ensure it is completed satisfactorily given the regulatory scrutiny. Each of these areas will need to be taken seriously and firms will no doubt be looking for clarity as they consider each area in turn. It is not an understatement to say that the transition to RFRs for firms will present a huge challenge, but with the right support, all affected firms can now accelerate their plans to ensure they are ready for the switch at the end of 2021.
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Ann Zaslow-Rethaber
April 3, 2020 10:00 AM
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Over the past 40 years, I have reviewed at least 30,000 resumes and LinkedIn profiles and personally interviewed over 5,000 job candidates. After tracking the subsequent performance of hundreds of these people, it became apparent that there were clues in the resume and work history that accurately predicted the likelihood the person would be successful even in roles that were promotions, different jobs, stretch assignments, or in different industries. Not surprisingly, the people who were the most successful generally had a different mix of skills and years of experience than listed on the original job description. The reason is a bit counter-intuitive: The most talented people do more and learn faster than their peer group. As a result, they get promoted more rapidly and therefore are lighter in terms of overall years of experience and depth of skills. This pattern of achievement makes it difficult to find these people using traditional sourcing techniques. To get around this, I suggest recruiters source for just a few critical skills and generic titles in combination with clues indicating the person possesses what I call the Achiever Pattern. The Achiever Pattern indicates the person is in the top half or better of their peer group. Here are some clues hiring managers, recruiters, and sourcers can use to spot the Achiever Pattern when reviewing resumes or conducting an interview with a candidate: 1. Demonstrates a fast growth rate. Those with the Achiever Pattern generally get promoted more rapidly than their peer group. Aside from a bigger title and job, this could also manifest as being assigned to lead larger or more important teams, or handling more important and more complex projects. 2. Exhibits strong technical and rapid learning abilities. The best hiring managers tend to push their most promising subordinates by giving them stretch roles, assigning them to difficult projects, providing early exposure to senior managers and influential executives, and giving them advanced training opportunities. Look for this pattern in the candidate’s past few jobs and ask how they got assigned to big projects and why. The pattern typically reveals the person’s core strengths, learning ability, and potential. I refer to this approach as the “Sherlock Holmes’ Interview.”
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Ann Zaslow-Rethaber
April 2, 2020 1:45 PM
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Workforce diversity is becoming an increasingly vital component in the business world. There is good reason for this trend. Research shows that more diverse staffs have been linked to rising company productivity levels, which directly correlate with increased profitability. In fact, Barron’s recently published an article highlighting the many ways diversity has measurable impacts on firms’s success. In short, today’s businesses simply cannot afford to ignore diversity when hiring. Bottom lines are impacted by diversity across the board: gender and sexuality, ethnicity — even age, which is often overlooked as a category of potential discrimination. Understanding how diversity of all types affects profitability is the first step to incorporating this broader-minded philosophy into a company’s culture. Below are four ways diversity impacts the bottom line for businesses of all sizes. 1. Diversity attracts more talent Companies that display ethnic, gender and age diversity appeal to a broader spectrum of job seekers, giving those companies a better chance at attracting top talent. Today’s companies are in a fierce competition for the best employees and are always looking for ways to draw them in. Simply put, diverse companies appeal to a diverse workforce and have a distinct advantage over companies that do not have a healthy percentage of women and people of color and varying ages on staff. When recruiting, businesses that source candidates from a diverse base are more likely to hire people with diverse characteristics. 2. Different experiences lead to more innovation If everyone on the team thinks the same way, there’s little room for innovation, which creates a stifling environment for inventing the next big thing. On the other hand, people from dissimilar walks of life approach the world from a wide range of perspectives and offer unique intellectual capital to the companies for which they work.
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Ann Zaslow-Rethaber
April 20, 2020 12:57 PM
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As the workforce in Australia becomes increasingly diverse, the importance of understanding and acting on different expectations will take on greater value. In response, leaders and managers must invest in their employees’ – from career development through to identifying what matters most to teams at different stages of the employee lifecycle, writes Steve Bennetts, EX Solutions & Strategy, Qualtrics. Look around your office. Now imagine that at some point over the next 12 months almost a quarter of your colleagues are likely to quit the organisation. Another year down the line that number will increase to 40 per cent. To figure out what motivates your employees and reduce employee attritition you’ll need to start listening to them. The Qualtrics research revealed more than two-thirds of workers believe it is very important employers listen to their feedback. It might seem shocking but I say it to highlight a point – Australian businesses experience the highest rate of employee attrition globally, according to The Qualtrics 2020 Employee Experience Trends report. Workers under the age of 30 are the biggest flight risk, with close to a third (28 per cent) looking to change jobs within a year and more than half (51 per cent) planning to exit within two years. By contrast, just 36 per cent of over-30s plan to change employers by the two-year mark. The true cost of employee attrition Staff turnover is extremely costly, with some reports estimating it costs Australian businesses almost $4 billion in lost productivity. There’s also significant recruitment costs, and then once you’ve found a candidate you need to onboard them. Beyond the numbers, employee attrition has other less obvious impacts – the effect on the morale of remaining staff who may lose a valued co-worker and have to pick up the slack once they’re gone, the impact on your reputation with customers, and the loss of company knowledge that goes with your exiting staff member. Listen to the voice of your workforce It’s not all bad news though. When it comes to employee engagement, A&NZ fares better on the global stage returning a score of 53 per cent – only the USA (55%), France (55%), and Canada (54%) scored more (of countries returning 500+ responses). This begs the question – what do employers and HR leaders do with findings like these?
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Scooped by
Ann Zaslow-Rethaber
April 17, 2020 10:00 AM
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A job market is an uncertain place, even at the best of times. Job seekers have the unenviable task of canvassing dozens of potential employers and inquiring about jobs. And the more positions you apply for, it’s more than likely that rejections will happen from time to time. However, with each rejection, your mental state becomes negatively affected. As a job seeker, you can hardly afford to let this negative mental state keep you down, and you have to find a way to work around it. So how do you keep your confidence up in the face of multiple rejections? Fifteen members of Forbes Coaches Council delve into how job seekers can keep their outlook positive, even in the darkest of times. 1. Keep Your Focus Good reflection of the process is essential. So is keeping a way-forward state of mind. Let go of the past and ask yourself, what can I do about it? What is my greatest contribution? Get fulfillment for your basic needs. Where do you get self-esteem and pleasure from? Build visibility in building good networks. Keep your spirit. - Cristian Hofmann, Empowering Executives | SUPERGROUP LTD 2. Don't Take A ‘No’ Personally Many people believe that a "no" from a potential employer means they are not good enough, not worthy. That isn't true. It simply means "no." Don't take it personally. See it as an opportunity to get a better matching job. Also ask yourself if your current job search strategy really works. Maybe it is time to refine it. Don't expect new results when doing the same things over and over again. - Dr. Natalia Wiechowski, Think Natalia 3. Adopt A Learning Mindset Conducting a job search can be like learning a language—it has its own set of rules, it can be intensive and it takes time to master. Adopting a learning mindset will help you to depersonalize rejections and setbacks—seek feedback, reflect on what you're learning and refine your approach. You'll become increasingly more "fluent" in the process, which will bring you closer to the job you want. - Patricia Carl, Highland Performance Solutions, LLC 4. Find Your Confident Calm No doubt, consistent rejection is tough. However, we need to remember that rejection is also a regular part of life for nearly everyone. Focus on what you can control and ignore what you can’t. Look yourself in the mirror, remind yourself of your inherent value and find ways to find your confident calm and get to your zen place. Then get up, get to work and try again. Good things will happen. - Jonathan H. Westover, Ph.D, Utah Valley University & Human Capital Innovations, LLC
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Ann Zaslow-Rethaber
April 16, 2020 1:09 PM
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As the COVID-19 pandemic continues to affect economies all over the world, most of the workforce is left wondering about the next steps and the implications that the outbreak might have on their future career. If you fall into this category – whether you were job hunting or just about to finish b-school when the virus hit – try not to worry too much. Businesses are still recruiting through online applications and video interviews, and many are looking for employees who can work efficiently from home. In fact, remote work has been on the rise since before the coronavirus outbreak, with over half of jobs in the financial and business services sectors now providing workplace flexibility. Allowing employees to work from home is highly convenient for employers, as it allows them to downsize their offices and cut traveling and operation costs. Technology plays a huge role in allowing companies across the globe to maintain business continuity in uncertain times – it’s not by chance that video conferencing and remote work apps such as WeChat Work, Zoom, Slack and Microsoft Teams have risen nearly fivefold since the start of 2020. But how has the process of finding a job changed in the past few months? How can you make a good impression to recruiters through a screen? Here are TopMBA’s tips on how to land the perfect job from the comfort of your home. Update your LinkedIn and social media Now more than ever, online platforms are a key starting point in the job-hunting process. Make sure your profiles are up to date and – most importantly – appealing to employers. Start off with a professional photo – preferably a headshot – and a headline/bio that will stand out. When writing about your skills, past jobs and duties, focus on showing off how you can help companies thrive during difficult times. This is more important than your achievements, as recruiters will be looking for proactive and skilled individuals who want to make a difference in their organization. And finally, share interesting and industry-relevant content. There is no excuse not to keep up with current affairs, and you’ll want to show your determination by narrowing your focus on specific fields.
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Ann Zaslow-Rethaber
April 15, 2020 12:55 PM
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In efforts to limit the spread of the COVID-19, many companies have adapted to remote work by leveraging video systems like Zoom to connect virtually with their employees. Employers, who are still actively hiring, like Instacart, Amazon, Google, and Microsoft, are opting for virtual interactions to take the place of in-person job interviews. This shift in the career marketplace has changed the way we conduct our professional lives and hiring processes. So what’s a virtual interview? If you’ve never experienced a virtual interview before, a virtual interview is an interview that takes place remotely, often using technology like video conferencing. Although the interviewer’s questions are likely to be similar to ones posed in an in-person interview, there will be differences between interviewing in-person versus interviewing virtually. For prospective employees, trying to make a pitch about their career qualifications and sharing their brand narrative via video conferencing software, such as Skype, Zoom, or Google Hangouts, can feel a bit overwhelming. If you’re currently on the job hunt or moving to the next step of the hiring process, here are some best practices and answered questions from our recruiting team at Glassdoor to help you ace your virtual interview and to get you set up for success. Here are 6 Tips to Ace Your Virtual Interview 1. Position yourself in a well-lit, quiet, clean space. It’s essential to choose a quiet, well-lit, neutral, and clean space to conduct your interview, especially if you’re taking the virtual interview from home to limit distractions. Unlike interviewing in the office or a public space, virtual interviews provide an intimate glimpse into your personal life. Be sure to give a great first impression by keeping your area clean and limit any interruptions from family members, pets, partners, and roommates. 2. Test your technology beforehand. It’s imperative that you check and test your technology several times before the interview and that day to ensure success. Be sure to double-check your wifi connection, camera and audio, and video conferencing platforms to confirm they are all working seamlessly. Being technologically savvy is a coveted skill that employers are looking for, and by not doing your due diligence to ensure that you’re good to go in the technology realm, you could have the hiring manager or interviewer questioning if you’re the right candidate for the position.
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Scooped by
Ann Zaslow-Rethaber
April 14, 2020 10:00 AM
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The finance industry is an exciting global industry that is constantly advancing and expanding. There are so many reasons why you would want to join such an exciting and powerful job sector. Not only are the possibilities endless when it comes to career paths but for destinations too. Companies are expanding to new exciting areas of the world and with this expansion, comes a high demand for finance professionals. By pursuing a career in finance, you are opening the door to thousands of exciting opportunities, including places that you may not have considered moving to. If you are looking for a job in this exciting sector, it’s time to start your searching for a career in finance today! 1. It’s a dynamic industry The finance sector is one of the most forward-thinking industries in the world. It's an industry that is undergoing constant change and growth. Thanks to the introduction of new markets, new laws and legislation, new technology, and a more globalised finance market, the industry is moving into a newer, more exciting direction. Thanks to these exciting changes, finance jobs require more technical skills and the hunt for these dynamic & tech-savvy candidates is bigger than ever before. 2. It’s exciting, challenging & fast-paced The finance industry runs at an exhilarating pace and as a finance candidate, it’s important that you enjoy keeping up to the faster pace of work. Lots of people who work in the finance industry enjoy the many challenges that they face on a daily basis. Almost every finance job requires problem-solving skills and some of your day-to-day tasks may involve fixing complex problems for large or small companies. If you are someone who thrives from this type of activity in a fast-paced environment, a career in finance is the one for you!
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Scooped by
Ann Zaslow-Rethaber
April 13, 2020 2:00 PM
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Let's say you're interviewing a new applicant for a job and you feel something is off. You can't quite put your finger on it, but you're a bit uncomfortable with this person. The applicant says all the right things, their resume is great and would be a perfect hire for this job - except your gut tells you otherwise. Should you go with your gut? In such situations, your default reaction should be to be suspicious of your gut. Research shows that job candidate interviews are actually poor indicators of future job performance.
Unfortunately, most people tend to trust their gut over their head and give jobs to people they like and perceive as part of their in-group, rather than simply the most qualified applicant.
In other situations, however, it actually does make sense to rely on gut instinct to make a decision. Yet research on decision-making shows that most people don’t know when to rely on their gut and when not to do so.
The reactions of our gut are rooted in the more primitive, emotional and intuitive part of our brains that ensured survival in our ancestral environment. Tribal loyalty and immediate recognition of friend or foe were especially useful for thriving in that environment.
In modern society, however, our survival is much less at risk. Our gut is more likely to compel us to focus on the wrong information to make decisions in the workplace and other areas.
For example, is the job candidate mentioned above similar to you in race, gender, socioeconomic background? Even seemingly minor things like clothing choices, speaking style and gesturing can make a big difference in determining how you evaluate another person.
Judgement errors Our brains tend to fall for the dangerous judgment error known as the “halo effect”, which causes some characteristics we like and identify with to cast a positive “halo” on the rest of the person, and its opposite, the “horns effect,” in which one or two negative traits change how we view the whole. The halo effect and horns effect are two of many dangerous judgment errors, which are mental blind spots resulting from how our brain is wired that scholars in cognitive neuroscience and behavioural economics call cognitive biases.
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Ann Zaslow-Rethaber
April 10, 2020 10:00 AM
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Tailoring your cover letter as much as possible to the relevant field and company is what makes you stand out from all the other generic cover letters. It shows the company you’ve taken care in your application and demonstrates an interest in the position you are applying to. When applying to finance positions, this is particularly important, as these openings tend to be particularly competitive. The Structure: The easiest part is getting the structure down, but sadly a lot of people fail at the first hurdle. Luckily there is a clear format that almost all cover letters should follow. 1. Addresses This may seem like a pointless formality, but formalities are to be followed in the finance world. Your name and address to the right, theirs below to the left. 2. Introduce yourself Start by explaining what job you are applying to, where you saw the position being advertised, and layout in simple terms why you are qualified to get the job. You could include relevant modules studied at university or work experience. Keep it short and sweet, less is more for your introductory paragraph. 3. Explain why you want to work for them Research the company, look at their website, find out what their values are. Find something about the company that stands out to you and show you’re truly interested in working for them. A surprising amount of candidates fail to do this, and it can be one of the best ways to demonstrate that you are a candidate worth interviewing. 4. Explain how your experience applies to the job description This is your chance to go into a little more detail about what experience and education you have that makes you the right fit for the position. Put them into the context of the job description and explain how these are relevant to the job specifications. However, take care in ensuring your cover letter is not just a copy of your CV in more convoluted words. 5. Tie it up This last paragraph should reaffirm your interest in working for the company, and finish with a ‘Looking forward to hearing from you’. It should only be a few sentences long 6. Finish with yours sincerely According to formalities, you should always sign off your cover letter with ‘yours sincerely’.
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Ann Zaslow-Rethaber
April 9, 2020 7:00 AM
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As a leader, you’re constantly competing for talent. You want to hire and work with the best, and you deserve to work with a strong team. Unfortunately, stress prevents us from building and exercising our interpersonal skills. In extreme circumstances, there is a clear link between chronic stress and a greater incidence of psychiatric disorders. Stress has also been linked to Alzheimer’s disease and other forms of dementia. It has even been shown to reduce the size of the brain. When we’re stressed, our focus tends to move inward. We overlook or deprioritize the people around us, including top talent, and how we interact with them. So, here are four steps to reduce your stress and build a powerful talent pool. It’s well worth the effort. When you build an all-star team, you boost your potential and reduce your stress, setting yourself up for success. 1. Always be on the lookout for talent. Talent is all around you. You just need to keep your eyes peeled and your ears open, both inside and beyond your company walls. You have a lot of tools at your disposal. Events, social gatherings and conferences are great places to source talent. You can ask your colleagues, friends and peers for recommendations. Look beyond the resume and remember that top talent is much more than high IQ. You should look for candidates who have empathy and emotional intelligence, or EQ, which is one of the most powerful predictors of career success. Individuals with a high EQ are able to handle pressure well, understand and cooperate with others, give and receive feedback constructively and engage in more effective decision-making. Research has shown that 75 percent of managers and HR professionals are more likely to promote an employee with a high EQ and lower IQ than an individual with a high IQ and lower EQ. But perhaps more important, strong EQ skills can reduce stress. What more could you ask for in a candidate? You want to be surrounded by people with high EQ levels, and you deserve to be. It’s important not to sell yourself short. And when you’re stressed, you’re be more likely to chase top candidates away because you won’t be able to present your company in a favorable light. You’re better than that. Finally, it’s important to remember that the hiring and recruiting should be ongoing. When you keep in touch with talent and have a shortlist of people who might become potential candidates one day, you can further reduce your stress levels because it gives you a vetted pool of talent to draw from at any time.
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Scooped by
Ann Zaslow-Rethaber
April 8, 2020 2:00 PM
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‘Soft skills’ are becoming increasingly important in the financial services sector which is contending with disruptive business models from non-traditional players such as Google, Facebook and Amazon, as well as digital transformation and growing demands from customers who expect a seamless omnichannel experience. ‘Soft skills’ are essentially interpersonal or people skills. They basically help people interact in the workplace and with customers and external stakeholders, including decision making capabilities, effective communication skills, emotional intelligence, critical thinking, collaboration, relationship development and so forth. Such skills are an essential pre-requisite when it comes to leadership development. They can help engage employees in digital transformation programmes, for example, and inspire innovation. Soft skills can help enhance all areas of an organization. Leaders with good soft skills can motivate teams which can translate into improved customer service and better sales. New digital strategies are dependent on soft skills. Cognitive and emotional empathy skills, for example, are important in understanding people’s attitude to change, driving business strategies and transforming processes. According to Deloitte, soft skill intensive occupations will account for two thirds of all jobs by 2030. The World Economic Forum’s Future of Jobs study sheds further light on the situation. As technology rapidly shifts the barriers between tasks carried out by humans and those by machines and algorithms it is pushing the global labour market through an era of phenomenal change. Proficiency in new technologies is only one part of the equation. Human skills such as initiative, persuasion, critical thinking and negotiation will increase in value alongside complex problem solving. Emotional intelligence, leadership and social influence will also be in demand the study maintains. Why? Because automaton, artificial intelligence and robotics may be able to respond, analyze and predict against data they are fed– but they can’t deliver the empathy and compassion that a human is capable of. The importance of interpersonal skills The key to success in the digital age is to ensure that employees acquire or are re-skilled in soft skills alongside the ‘hard skills’ training required for their roles. The most efficient way of doing this is to provide just-in-time, bite size training and to say goodbye to long, boring training sessions that are too general to be personalized and not at all engaging to today’s learner.
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Scooped by
Ann Zaslow-Rethaber
April 7, 2020 12:26 PM
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If you are looking for smart ways to build your #privatebanking business, the platform you should focus on is LinkedIn. From Fortune 500 companies to professionals, decision-makers, and senior influencers, the platform has huge amounts to offer private bankers. Yet, according to a recent banking study, 83 percent of private bankers are not using LinkedIn as a marketing tool regularly. With more than 610 million members and 303 million monthly active users, it comes as no surprise that 46 percent of business website traffic comes from LinkedIn. Moreover, the average annual take-home of 44 percent of LinkedIn users is $75,000, which is way above the U.S. national median. So, enough facts. Here are some ways we assist our private banking clients and you yourself can leverage LinkedIn for promoting your business: Four smart ways to use LinkedIn to boost your private banking business Write a powerful profile: Users are looking for products and services that stand out. A powerful summary of what you offer doubles as your 24×7 personal brand. Leverage the 2,000-character or 500 words limit to tell a compelling story of what makes your bank unique. Interviewing your top clients and asking them about the value-adds your bank provides and why they chose you as their banker are ways to strengthen your summary. (We actually offer a done-for-you profile optimisation service or teach yourself on one of our webinars at The Link Tank) Join professional groups: Most bankers mistakenly think LinkedIn is only a recruiting tool. However, there are more than two million professional groups on LinkedIn and joining strategic groups can help you generate leads and win opportunities. Joining a LinkedIn banking group also is a smart way to stay updated on current trends in banking. Share meaningful content: A LinkedIn study found that information that affluent consumers were looking for related to new product information, company updates, account changes, and relevant content. By sharing relevant content regularly, private bankers can position themselves as a trusted source of financial information. With this, you would be the first person influencers and users contact when they are ready to engage.
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Scooped by
Ann Zaslow-Rethaber
April 6, 2020 12:56 PM
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It's easy to easily establish unconscious biases about who the "best fit" for a job might be based on our individual experiences. For example, let’s say that you attended a top university like Harvard or Yale, and you receive a slew of applications from candidates, some of whom attended universities ranked lower than the one you attended. You might unknowingly be less inclined to hire those candidates despite them having the qualifications to back up their expertise. There’s a science behind what’s happening here, known as the halo effect and horn effect, where we subconsciously allow one belief to overshadow others. I once hired an individual who had far less experience than the position required simply because they reminded me of myself when I first started my career. I subconsciously assumed they possessed the other qualities that I pride myself in, like integrity and accountability, only to find out later on that they lacked these characteristics. In that particular case, my perceived image of the job candidate overshadowed their actual ability to perform. I ended up learning the hard and expensive way that just because a candidate is extremely likable and charming, it doesn’t necessarily mean they’ll be successful in the role you’re hiring for. In situations like these, artificial intelligence (AI) can help remove some of our human biases and help us to look beyond the polished resumes and glorified recommendations so that we’re hiring the most creative and effective members for our team. Ashkan Rajaee, whose company, TopDevz, develops custom AI-hiring solutions for Fortune 500 companies, explains that if areas of improvement are identified early on during the hiring process through the use of higher-tech methods, constructive feedback and support tools will be given to the candidate. “Through AI, companies can implement higher-tech methods that are capable of differentiating technical knowledge from perception into its hiring process," Rajaee elaborates. "We do this by putting our developer candidates through a series of personality-, soft-skills and live-coding skill assessments. We then input those results into an algorithm that determines the candidate’s overall score.
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Scooped by
Ann Zaslow-Rethaber
April 3, 2020 7:00 AM
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No matter which 2020 workplace predictions or forecasts you read, people are the focal point. The need to attract and retain talent in a competitive labor market will continue to intensify regardless of technological innovations through AI and automation. Developing a distinct employment brand and fostering a strong culture to attract and retain talent isn’t new, but it’s never been more critical. These six practices will elevate your talent game in this new decade. 1. Put culture first. The best way to make something important is to talk about it early and often. Starting every meeting with a question about culture, hiring or employee retention illustrates its importance and keeps it top of mind for everyone. Wondering what to focus on when it comes to your company's culture? As a recent Glassdoor blog post recommends, "Forget about fancy perks like free food and ping-pong tables. The three most significant drivers of employee satisfaction are a clear mission, high-quality senior leadership and career opportunities." 2. Get your employer brand right. Seventy-five percent of job seekers consider an employer's brand before even applying, so ensure your online footprint tells the story you want it to. Building a reputation as a top employer is important. In addition to your website and social media- and professional-networks, focus on third-party reviews, employee testimonials or awards or certifications. Your employer brand is how you market to prospective employees. It is the public perception of your company as an employer, but it also describes your employee value proposition to potential and current employees. Be sure to define the values of your organization, both how it’s unique and what it stands for, communicating that your organization is a good employer and a great place to work.
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