The Future of Talent Recruitment

The Future of Talent Recruitment Talent recruitment is among the key issues businesses must solve. Attracting the right talent and making the right hire is not as easy as it might sound, especially in the current recruitment landscape.So, what is the future of talent recruitment? © Shutterstock.com | baranqWe’ll explore the changes the recruitment industry has faced in the past, by analyzing the previous recruitment model and the impact of the digitalization of the sector. We’ll then focus on the major problem recruitment must solve and outline five future trends of the industry.THE RECRUITMENT LANDSCAPE OF THE PASTTo understand and to appreciate the future recruitment scene, it’s auspicious to first understand how recruitment has operated in the past. This can provide a better idea of the challenges recruiters have dealt with in the past and explain some of the difficulties they might experience in the years ahead.The recruitment landscape is divided into two eras: pre-digitalization and post-digitalization.During the pre-digitalization era recruiters had to rely on paper resumes and job applications. Job posts were advertised either in industry papers, tradeshows or in public recruitment centers. In many instances, jobs were advertised internally and hiring involved referrals by other employees.The selection process also followed a different pattern. The recruiters went through the paper applications and resumes, shortlisting suitable candidates for an interview. Candidates were called for face-to-face interviews, with only a small amount of interviews being conducted over the phone.From the interviewees, recruiters created a further shortlist and eventually picked a candidate for hire.The tools at recruiters’ disposal were just the resume, the application and its questions, the interview and the possible references.Unlike today when the data is plentiful, recruiters didn’t have as much information on the candidates. Being hired relied on the appeal of your resume and the personal connection you were able to form with the interviewer.Overall, the process was rather laborious, involving plenty of steps, which have now been digitalized. Not only was it harder to find a suitable candidate for the job position, the whole applic ation process took a rather long time to finish.Perhaps the most important point to make about the past recruitment scene involves the matter of power.In the past, recruiters had most of the power in terms of hiring. Recruitment agencies weren’t as plentiful and there weren’t many options available for being hired. The traditional application and resume route tended to be the most available. Candidates weren’t in control.DIGITALIZATION CHANGED THE GAMEBut the recruitment landscape changed rapidly, as the technological revolution took hold. The digitalization has shaped the current recruitment landscape and it will continue to be the major driving force behind the changes of the future.What are the main differences technologies have brought about? Let’s examine the alterations both recruiters and candidates have experienced.Changes for the recruitersThe availability of candidates has exploded, as the Internet and the interconnected nature of our society has made it easier to reach candidates across the globe.Resume analysis has become easier with technology. Data can be collected much faster and in larger quantities, with automated pre-screening of resumes removing the burden of manually checking them.Recruiters have a wealth of information available on the candidates. Social media profiles and other digital footprints have provided recruiters with plenty of data on the person’s personality and suitability for the job. This has potentially made the job of finding the right candidates easier.Technology has also provided more tools for interviewing the candidates. Face-to-face meetings aren’t necessarily needed when video calls can be organized. This again helps to include candidates from different parts of the world to the recruitment process.All of the above points have helped cut the potential cost of recruitment, as well as the speed of the process. Since certain aspects have been automated, you don’t need the same amount of recruiters and brows ing through resumes can happen in minutes rather than weeks.Changes for the candidatesThe process has also become easier for candidates. Sending out applications is easier, as most recruitment agencies now only take digital applications. It’s also more straightforward since there are multiple ways to contact the recruitment agency in case of problems.The number of opportunities has also increased, as it’s easy to apply for jobs all over the world. While internal referrals are still important, many organizations also like to post jobs on online recruitment boards for faster results. These online job portals have thousands of jobs listed, although the odds of finding a good job can be high. Networking is still crucial for candidates. The increase in opportunities has also shifted some of the power to the candidate. Candidates can learn more about the company through online media profiles and even job discussion forum. This can help the candidate decide whether the role and organiz ation would be more suitable for them rather than applying for a job elsewhere.Candidates must be more careful about their own online footprint, as mentioned above. The line between private and public life have blurred and candidates are required to learn to manage their digital image.Social media does, however, also provide candidates the opportunity to network with potential employers.Since big organizations use automated resume screening, candidates have to pay close attention to creating the ‘right type of resume’. The automated screening looks for specific elements and assets, which must feature on the resume or the candidate is excluded. While organizations often emphasize ‘exceptional’ resumes, a ‘mainstream’ resume is much more likely to get you through the initial process.Watch this webinar on major recruiting trends and strategies. THE PROBLEM RECRUITMENT MUST SOLVEBut the digitalization of recruitment has brought about negative changes as well. The current sys tem has become rather too focused on quantity over quality. As companies are able to attract a number of job applications, finding the most talented individuals is harder.The increasing numbers of applications are not just a result of the digitalization of recruitment, but also the generational change. Millennials are more inclined to using the Internet. The job market is becoming increasingly crowded as well, as economic and organizational challenges are limiting the available job numbers.According to Kate Temple-Brown, consultant and former Head of Graduate and Early Careers at FreshMinds Talents, the recruitment landscape has turned into a “numbers game”, as companies are more interested in reaching targets. “They (companies) are starting to see that the quality of candidates is going down and down, because it’s becoming a numbers game rather than a quality bespoke hiring game,” she told LaunchPad Recruits.The problem recruitment agencies must solve centers around findi ng a solution to attracting the best talent to any given position, without compromising speed and efficiency. The industry is likely to move towards creating an overall better recruitment experience, for both the organization hiring and the candidate.According to Temple-Brown, this could mean recruiters tapping on talent much earlier. “There is going to be a greater emphasis on getting quality graduate recruiters to find quality graduates,” she said.Focus will shift on solving the problem of finding the right ‘fit’ instead of the right ‘skills’ and this can mean talent recruitment will become more about focusing on the personality and the potential. Organisations will focus on talent potential by targeting younger students and graduates, hire the best match and develop the candidate for the specific role.5 FUTURE RECRUITMENT TRENDSHow will digitalization and the increasing thirst for talent, influence the future landscape of talent recruitment? It’s time to turn the at tention to five potential trends of the future.Trend 1: Power continues to float towards the candidateAccording to research, 83% of recruiters currently think the power in recruitment has shifted from the employer to the candidate. Furthermore, this shift is expected to continue in the future and therefore shape how recruitment works.The candidate-driven marketplace means the “active-recruiting approach” becomes obsolete. Instead, recruiting must become better equipped of selling the job to candidates and emphasize the recruitment experience.As mentioned above, the shift of attracting potential candidates earlier has already started. University and school recruitments are becoming a key part of selling the organization to candidates, who are asking “Why should I work for you?” This means recruitment must focus on not what is required from the candidate, but what the candidate can gain from the organization and the role.It’s also likely the recruitment market must focus mor e on personalization of the process. Just like executive recruitment is currently tailored to provide the candidate with a unique experience, graduate recruitment is likely to become more customized as well.Companies also need to solve the issue of the ‘passive candidate’. These are the candidates who are not actively looking for a job (the first job/a new job/a change of jobs), but who are open to ideas. Instead of waiting for the talent to come to the organization, organizations must be more active in getting to the talent.Since the demographics in many Western countries are changing, younger workforce represents an increasingly smaller proportion of the total recruitment landscape. This also means organizations need to work harder in order to attract talent.Trend 2: The rise of the Internet and mobile for recruitmentOnline recruitment platforms will continue to dominate the recruitment process. Organizations must therefore adapt to the situation by focusing on the ease and av ailability of online applications. It’s important to stress that the focus shouldn’t be simply on using online platforms, but ensuring the application portals are easy to use.Online portals can ensure the speed of recruitment doesn’t drop to past levels, even if the screening process becomes more meticulous. These portals should also be used to not only make the application process easier, but for spreading the message of recruitment opportunities and sharing information on the companies, which are recruiting.In addition, mobile recruitment is increasing in importance and is likely to become the number one channel for candidates seeking jobs. Mobile platforms can bring plenty of benefits to recruiters since these platforms are highly versatile and have high response rates. It can make communication with the candidate easier, as it guarantees fast contact and a variety of different communication forms from e-mail and hangouts to video messaging and file transfers.Recruiters sho uld continue to focus on streamlining the mobile recruitment portals to ensure different functions of the process flow smoothly. Application, communication, interviews and other administrative tasks should be easily performed via a mobile phone, for both the recruiter and the candidate.Here’s an interesting speech by James Beriker on the future of mobile recruiting. Trend 3: Recruiting teams will focus more on right personalities and their specialized skill on the jobThe current talent recruitment places emphasis on finding so-called ready talent. Companies are looking for talented individuals with the skills that fit the organizations need.But since future recruitment is likely to move more towards younger talent recruitment, the trend will be to find the right person, irrespective of current skills. For organization, recruitment becomes more about finding the right fit to and develop the necessary skill set later as part of the job.Furthermore, part of the change is driven by th e changing nature of jobs and roles. Jobs today are becoming increasingly specialized, requiring specific skills that aren’t necessarily taught at academic institutions.Therefore, employees are required to acquire these skills “on the job”. Candidates must therefore be able to show ability to be adaptive, as the skills they learn in the university don’t necessarily apply directly to their future job.This poses challenges for recruitment agencies, as they must be better at scouting for the people with the right frame for acquiring these skills rather than necessarily already possessing them.Some scientific research on assessing the fit of a candidate to a company. Trend 4: Big Data to become an integral part of recruitmentBig Data is changing the business world and it’s going to influence the future trends of talent recruitment. While data-based decisions are already done to some extent by recruiters, the importance and the role of data-based decisions are going to increase in the future.Instead of focusing on low-value metrics, especially historical metrics, such as education and past employment, the future data-led decisions are going to focus on real-time and predictive metrics. These would include metrics such as self-assessment and the quality of hires.Big Data can help improve the recruitment process because it boosts the understanding of not only the candidates, but also the hires you’ve made in the past. You can better adjust to situations where previous hires had low retention rates or the satisfaction rates of the employee dropped after the hire.While it’s unlikely aspects such as resumes to lose importance, digital profiles and the candidate’s personality will become a more important aspect of data analysis. Older and simpler metrics won’t be the key to data-based decisions, but rather the human aspect of recruitment (personality analysis, etc.) will be analyzed through data as well.Big Data will also boost connecting with passive c andidates. Jon Bischke, CEO of Entelo, told Business News Daily how data analytics could help approach the right candidates first. “One of the ways big data is impacting recruiting is around using social data to identify people who are more likely to be open to new opportunities,” Bischke said. Bischke went on to point out data analysis can even “help predict when they (candidates) might be ready to leave an employer and seek a new job”.Trend 5: Referrals continue to play a key roleFinally, while recruiters’ pool of available candidates has been expanded by the digitalization of the industry, referrals are not going to disappear. In fact, the creation of personal connections and the depth of networking will probably become increasingly important for both recruiters and candidates. Future talent acquisition will continue to rely on personal connections and past accomplishments.The importance of referrals has already been evident on professional platforms such as LinkedIn. T he platform relies on personal recommendations and connections, which are a good way of being hired.In the future, companies and candidates must continue to focus on networking and fostering good relationship in order to not only attract the best hire (companies), but also to get your foot through the door (candidates).According to data, 40% of today’s hires are done through referrals, with career sites following second with 21%. Despite this, only 7% of applications are referrals, with 32% applications occurring on career sites.Most of the popularity of referrals comes from the benefits of this recruitment type. For example, the same data shows, referrals start work after just 29 days from the application, while career sites tend to take 55 days. Employees through referrals also stay on longer. Since the benefits of referral hires are so strong, the trend is most likely upwards rather than downwards. THE BOTTOM LINEDigitalization has already impacted talent recruitment and the di fferent applications of technology are likely to continue affecting the recruitment landscape.Whilst recruiters need to adjust to new ways of looking at the hiring process, some practices are going to continue to stay at the forefront of talent acquisition. Attracting younger talent, implementing Big Data analytics and the use of mobile phones are challenges recruiters must prepare for.On the other hand, referrals and the importance of focusing on candidate personality and fit, rather than just pure skill set, will continue to be at the centre of the talent recruitment game.

Symptoms And Treatment Of Dementia - 1428 Words

Introduction Dementia is a disorder that leads to a gradual loss of the cognitive capacity of an individual, ultimately affecting one’s daily activities. Dementia does manifests through the accompanying disorders because it does not exist on its own. In other words, dementia is a disorder that comes about through the existence of the related disorders. The main ones are four, but they are not the only disorders that cause dementia. These include Lewy Bodies dementia (LBD), Alzheimer’s disease (AD) and vascular dementia (VD). Others include mixed dementia, Huntington’s disease, Huntington’s disease, Wernicke-Korsakoff Syndrome, Parkinson’s disease, Creutzfeldt-Jacob disease, Normal Pressure Hydrocephalus and Frontotemporal dementia. According to Ram (2006), these disorders have a broad spectrum of impacts on the patients besides having devastating effects on the overall economy of the world’s nations especially when the number is significantly high. The pa per intends to dig out the milestones the dementia disorder has undergone. Background History of Dementia Boller and Forbes (1998) asserted that dementia is as old as human and that failure to understand the underlying symptoms made its discovery a nightmare to the medics. They suggested that non-existence of sophisticated medical systems incapacitated the discovery of the said disease, especially its epidemiology in the classical world. As time progressed, the world witnessed advanced technology particularly in the 20thShow MoreRelatedSymptoms And Treatment Of Dementia869 Words   |  4 PagesMaggie, A 62 year old lady who recently loss her husband and since then she been suffering from early dementia, which makes her leave her home in the night as she is confused between day and night and also forgetful. Maggie is extremely active and her family are concerned of this change of behaviour and they worried that she might forget to take her medication on time and skipping meals. 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It may cause you to get lost in a familiar setting like driving to the grocery store. You may not be able to balance your checkbook or add up your points in a card game . Communication becomes difficult; as you cannot find the words you want toRead MoreThe Disease Of Alzheimer s Disease Essay1482 Words   |  6 Pagesthe most common form of dementia, which is a general term for memory loss and other intellectual abilities serious enough to interfere with daily life (Alzheimer’s Disease Dementia). Alzheimer’s is one of the leading causes of death in America. Dementia and Alzheimer’s have been around for centuries, but Alzheimer’s disease wasn’t first described until 1906 by Dr. Aloysius Alzheimer. In the past, there was a stigma for elderly people with the disease and people with dementia and Alzheimer’s were seen

Sociological Imagination By C.wright Mills - 1623 Words

The social scientist is not some autonomous being standing outside society, the question is where he (sic) stands within it . . . (Mills, 1959, p. 204) . . . learn to use your life experience in your intellectual work: continually to examine it and interpret it. (Mills, 1959, p. 216) Sociological imagination by C.Wright Mills can be defined as addressing social problems by relating the individuals personal trouble with the way society is organized and structured† (Tepperman Albanese, 2014,p. 2). Sociological imagination is the ability to see things socially and how they interact and influence our daily lives and each other. To have a sociological imagination, we need to be able to pull ourselves away from the situation and to be able to†¦show more content†¦Education is an essential part of my life as it presents me with skills towards learning and attaining knowledge; it creates values of proper conduct as in the societal norms; and provides me with the necessary technical expertise to bring about the desired societal change in future (Mills, 2000). My main goal is to excel in school, and become a highly Certified Human Resource Manager, to obtain a better future and to make my parents proud. While engaging in C.Wright Mills’ idea that soc iology describes the intersection between history and biography, I will reflect on the problems that I have faced in my current educational experience and future in human resources management that are connected to the social institutions and in the large part to the social culture located in history. Culture is defined as a powerful social force that’s influences our daily lifestyles and events (Tepperman Albanese, 2014,p. 32). The day I relocated to Canada with my family two years ago, is still fresh in my mind. It was one of the best moments in my life, as well as an unexpected life changing experience that I will never forget. Growing up in Nigeria was like a dream, as I believed that I had it all; friends, family, love, care and everything one can possibly wish for. In Nigeria, our societal values and culture were way different from Canada and the meaning attached to the word ‘family’ was different, owing to the strong bonds,

Paper on the Costs and Benefits of Building Society Free Essays

At the beginning of this century there were more than 2000 building societies, fiercely independent mutual organisations, formed in the spirit of Victorian self help. There are now just 71. Some of these that have disappeared were terminating societies with a fixed wind up date. We will write a custom essay sample on Paper on the Costs and Benefits of Building Society or any similar topic only for you Order Now The last â€Å"terminating† society was the Fist Salisbury which wound up in 1980. Other societies have been swallowed up in take-overs or converted into banks in the great 1997 demutualisation. This assignment will discuss this trend with particular reference to the potential costs and benefits in the short and long term. This assignment will examine the costs and benefits to the building societies as well as those to the members and staff. The Costs and Benefits to the Building Society Conversion to plc status is seen as having the major advantage that there would be freedom from the limitations imposed by the Building Societies Act 1986, 1997 the statutory framework for the Building Society industry. The restrictions the Act impose include the following: 1) 75% of all lending has to be secured against residential property This means that Building Societies are limited in their participation in the more risky, but more rewarding unsecured lending. At the moment, Societies can make unsecured personal loans up to a limit of  £15,000 per customer, whereas there is no ceiling for Banks. Building Societies with less than  £100m of assets are not permitted to make unsecured loans. 2) No more than 50% of funds may be raised on the wholesale markets This limit was previously 40% before the revised 1997 Building Societies Act. Building societies have eagerly taken the opportunity to raise money in the wholesale markets, which have frequently proved to be the cheapest source of wholesale funds (Wholesale funds are large deposits placed by companies and financial institutions, bearing an interest rate in line with the market rate rather than base rates). They have used these funds to even out any shortfall in the inflow of retail funds to meet the mortgage demand. Banks have no ceiling on raising wholesale funds, which are usually cheaper than retail funds. Building Societies may also find themselves at a disadvantage in access to wholesale funds at competitive rates. As only 50% of funds can be raised from the wholesale market only the very largest societies can maintain the necessary standing in the international capital markets which allows wholesale funds to be tapped on the finest terms. Equally, the capacity to cope with the volatility of the wholesale markets and the risks they pose, requires Treasury management teams on an increasing sophistication to which only the largest societies can aspire. 3) Before the 1997 Act, building societies could only offer temporary or occasional overdrafts to corporate customers. Now building societies can establish subsidiaries to lend to business customers, but have not yet become significant lenders to industry. This is in contrast to banks who are very much regarded as lenders to businesses. As a result of the Building Societies Act 1997, building societies are now also able to : a) make unsecured loans to incorporated businesses; b) to own a general insurance company which could write housing related policies (buildings, contents and mortgage payment protection insurance). Building Societies are limited in raising capital. Until 1991 building societies could only raise capital by means of retained profits. Now larger societies, to increase capital, can issue Permanent Interest Bearing Shares (PIBS). This is in contrast to plc†s who are free to raise capital in the market by issuing shares and bonds if they plan to expand. An example of this is Barclays 1987 rights issue to raise  £921m to finance â€Å"growth†. Building societies cannot in general engage in take-overs of, or mergers with other types of financial institutions in order to expand their breadth of operations, and retain their mutual status. Banks have this freedom and can finance mergers and acquisitions through the issue of new shares, whereas building societies can only finance acquisitions with cash. Efficiency is also an issue as a plc – profit making organisation is perceived as having greater efficiency than a mutual organisation. However ‘competition has proved a spur to efficiency at least as effective as the disciplinary effect of a public quotation† (PRIMA). As a result of the break up of the societies cartel arrangements for setting interest rates, the banks have made successful inroads into the mortgage and savings markets and hence competition is today very strong. There are many costs and disadvantages associated with building societies converting to banks including: The new plc will be regulated by the Bank of England, rather than the building societies commission. The plc will operate under the Banking Act 1987, compared to the Building Societies Act 1987, 1997. The plc may find it difficult and time consuming, at least initially, to deal with the new method of regulation. The Government†s planned new super regulatory body may also provided further legislation that has to be adhered to. 2) Need to pay out dividends and ability and pay competitive interest The plc will find itself under pressure to pay out growing dividends to shareholders. This reduces retained earnings, thereby reducing the plc†s ability to pay competitive interest rates. In the past building societies have been able to operate on a narrower margin than banks between their rates to the depositors and borrowers because: a) their low management cost (due to their less complicated specialist business); b) no requirements to pay dividends; c) low capital requirements due to the low risk nature of their assets; d) because the banks tended to subsidise their money transmission service by their deposit accounts, which lessens their ability to compete in the savings market. 3) The plc becomes open to possible take-over bids The change of status may have adverse effects on the institution†s image with customers. This may adversely affect its ability to compete with Building Societies. Building Societies are generally regarded as friendly institutions, concerned first and foremost with the customer. A comprehensive study of public perceptions of different financial institutions conducted in 1987 showed that building societies enjoy a positive rating of 85%, compared with only 51% for the high street banks (Personal Finance The Future of the Financial High Street, Research Associates, March 1988). Building societies have traditionally been seen as a safe depository for the savings of working people. Building Societies are safe and a principal reason why is that mutuality has restricted them to safe, low risk activities. This safety and friendliness have strong customer appeals, which may be lost if conversion to plc status takes place. In general building societies have low levels of bad debt relative to banks. The lower levels of bad debt can be put down to the loaning restrictions set down by the Building Societies Act 1986, 1997 (e.g. 75% of loans must be secured against residential property). In 1997 a number of building societies decided to give up their mutual status in favour of plc status. These conversions and take-overs resulted in a number of windfall payments to society members. These windfalls were in the form of cash or free shares. The size of windfall varies from society to society, but investors due to receive windfalls from all the building societies that surrendered their mutual status during 1997 (Halifax, Northern Rock, Alliance Leicester, Woolwich, Bristol West) can expect shares worth an average total of about  £6,000 (IC vol. 120/1524 page 34). This is clearly a short term benefit to members but it is argued that as plc†s these former mutuals will in the long term not be able to offer such attractive interest rates for borrowers and savers. Christopher Rodrigues, Chief Executive of the Bradford Bingley argues â€Å"The one off benefit of plc conversion is here today, gone tomorrow. The higher savings rates and lower loan rates of mutuality are for life not just for flotation day†. Mr Rodrigues points out mutuals don†t have to consider the demands of shareholders – particularly for high dividends or share price growth so profits can go to members – via better interest rates on savings accounts for example. Which?, the respected ‘Consumers† Association magazine has also criticised these conversions and claims the new banks will be forced to squeeze customers for maximum profitability. Which? Argues that mutuals offer better interest rates for savers and borrowers. This case of mutuals offering better rates is hard to prove in practice as there are so many financial intermediaries, products, min balances and interest rates available. For example, the Which? Report only examined two products over a narrow period of time. Most of their mortgage research is based only on the 12 months to March 1997, a period when the converting societies knew they could get away with charging windfall seeking customers more than their rivals. Over the longer term Money Facts, a savings rate specialist, claims mutuals record in savings rate best buy tables is poor. Each year Money Facts publishes details of how much money you would have if you had invested with each of the 90 or so Tessa providers 5 years previously. Just one of the five largest mutual building societies made it into the top 25 Tessa providers. The same was true last year. A quick look at the mortgage market tells a similar story. Research conducted by myself paints a similar picture. Investors Chronicle, a weekly investment magazine published by the Financial Times, carries a weekly updated table of highest deposit rates (Appendix 1). As at 29 January 1998 out of 36 financial intermediaries listed on this table offering the best deals on various products (e.g. Tessa, Instant Access up to  £2500) only 13 of them are mutual. In recent months, there has been a rush of new entrants to the banking arena that offer better deals than the mutuals and established high street banks. Insurer, Legal General (60 Day Notice Minimum  £2500 7.65%) and supermarket, Safeway (Instant Access Minimum  £1000 7.3%) (Appendix 1), for example, both offer excellent interest rates on savings accounts. Equally, Scottish Widows† mortgage products are very cheap. Even if believed that mutuals offer better savings and mortgage rates it is a long wait for building societies to deliver the same return as there converting counterparts. One case that illustrates this point is a saver that had  £5,000 in an instant access account run by Nationwide – whose members rejected conversion this summer – would earn more money than he would at the Woolwich (see Appendix 2). However even if you were a non taxpayer, it would take more than 50 years to make  £1500 (Woolwich windfall approx.  £2000) extra in interest payments. The lure of the mutual building societies is not so compelling as it is often presented. Some building societies have recognised that they need some sort of scheme with which they can compete with the attractions of windfall bonuses. The Nationwide, Bradford Bingley and Yorkshire have all announced cash back schemes where members will get a larger slice of the profits in the form of better interest rates. The Britannia has actually paid cash bonuses worth  £35m to members. However the average payout to members was  £35. Another aspect of consideration is the treatment the customer receives. Mutuals almost always beat banks in surveys on customer friendliness. Building societies staff are perceived by customers, according to market research, as more friendly, more pleasant and more interested in their jobs than those of banks and other financial institutions. (PRIMA). Many building societies have branches in estate agents in small communities. These branches are not usually prolifically profitable, but provide a valid service to the community. As plc†s are profit making organisations there is a trend that community branches are closed after conversion. The Abbey National, for example, closed 1000 community branches after conversion and all 200 of National Provincial†s when it took it over. This is a great cost to those who live in these communities. Many are old people who are now faced with travelling long distances to get their money. Plc pay is generally higher than mutual pay for the senior managers of a building society. Peter Birch, Abbey National†s, Chief Executive, pay has increased from  £173,000 pa in 1987 to  £450,000 pa in 1996 and he now owns shares worth  £1.8m. This is in contrast to the Chief Executive of Halifax who†s pay did not increase by anywhere as much and was unable to receive share options. There is a clear benefit to the senior mangers of a converted building society, but in the long run they are also more open to being removed by discontented shareholders or a take-over. Share options are believed to produce more motivated and committed staff. In conclusion there are potentially more benefits to the Building Society than costs. The major benefit being the escaping from the limitations imposed by the BSA. The Building Societies Act 1986, 1997 excluded building societies from potentially more profitable, if riskier business. The regulatory constraints on a plc are less onerous than those on a mutual basis therefore although banks are subject to continuous Bank of England supervision, the basic limitations are the scope of company articles of association whereas building societies must comply with highly specific requirements of the Building Societies Act 1986, 1997 on such matters as the permitted proportions of wholesale funding, unsecured lending and advances by class of asset. In general, members also have potentially more benefits than costs. In the short-term members of converting societies have the benefit of windfall payments. In the long run it is claimed that members will lose out in less competitive interest rates, however this is very hard to prove. Even if it can be proved, the savings and mortgage rates offered by the mutuals will only be marginally better than those offered by the non-mutuals. It will take years to earn the equivalent of a windfall bonus from a mutual in the form of better interest. Some people urge others to think about the next generation and that one day there will be no mutuals left, but at present most of the best rates are offered by the new entrants to the banking arena (e.g. Safeway). Any member who retained their membership of a converted society through retaining their share allocation, at present would be benefiting even more. The reason for this is that the share prices are higher today than when the societies floated. Secondly as this is being written the Woolwich as part of it†s maiden full year results announced a â€Å"fresh  £100m windfall for Woolwich investors. A 6.5p special dividend added to the total year dividend of 9.5p will put  £105 in the pockets of hundreds of thousands of former Woolwich members who received the average windfall package of 657 shares. The Woolwich will also seek authority to return a further 100m to 200m of excess capital to share holders later this year in share buy backs. There is a clear cost to those members who relied on a community branch, however have these usually retired people examined the alternative technology available (e.g. telephone banking, cheques, debit cards etc.). Staff (particularly senior management) will benefit as a plc is able to offer share options which are believed to produce more motivated and committed staff. Senior management will also usually have greater increases in pay. These people are not ‘FAT CATS† they do a complex job and are paid the going market rate. In the long run senior managers of a plc are easier to remove from the company if their performance is poor. All in all the benefits of conversion outweigh the costs. This is true for all the interested parties, i.e. the building society, the members and the staff. 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Communication for Managers

Question: Discussin the assignment to make a mark at her workplace and build a pleasant relationship with her manager and other staffs. Answer: Introduction In reference to the case that has been given to us, we know how Jean, a person working in a responsible position with a respectable organization for about six years has been denied, or we may say, ignored from being promoted to a higher post, with an increment in her salary. We will, thus, look upon the very way as to how Jean should handle this situation. The most important characteristics or focal point is listening skills. A credible leader must have good communication skills as well as an attentive mind. If a person cannot listen to what others have to say, one cannot lead his or her team towards success. Hence, this will be our first point of discussion. Listening Skills Listening is the good understanding of verbal communication. There has to be a good relationship between the sender and the receiver, to be able to get valuable information in order to get success for the company. The individual concerned has to have good listening skills in order to complete the job effectively. Work related problems have been noticed due to bad listening skills (Schmidt Cummings, 2000). As the saying goes, A good speaker must be a good listener. The importances of the development of a firm by good listening skills are listening effective, which helps in better processing of the information for correcting the errors and solve the other problems; a false rumour may harm the prospects of a firm, hence it very importance to listen properly to each and every opinion; if the audience is not a good listener, the speaker is bound to be discouraged, which is why to get the correct information from the speaker and to promote coordination among the firm, it is very important to be a good listener (Moussa-Inaty, Ayres, Sweller, 2011). Emotional Intelligence Skills This term emotional intelligence was termed in the year 1990 by Mayer and Salovey. They described it as a form of social intelligence that involves the ability to monitor one's own and others' feelings and emotions, to discriminate among them, and to use this information to guide one's thinking and action. Martin Seligman constructed a term called learned optimism which relates to those attributions that people generally make while being confronted to failures (Hess Bacigalupo, 2014). While on one hand, we find attributions related to temporal, specific and external; on the other hand we find the attributions by the pessimists being permanent, global and internal. There was an observation by Seligman where he found out that 37% or more insurance were sold out by the optimists more than the pessimists ("Emotional Intelligence Skills and Self-efficacy Levels: Physical Education Teachers' Perspective", 2016). Team Facilitation Skills (Group Work) To improve their respective products, the current trend of achieving higher success is to turn to team work. However, there are various kinds of teams. Cross-functional teams desires in achieving significant improvement. Standing team refers to a group of workers who desires in continuous success in achieving something (Dallas, 2014). Team members may consist of senior vice presidents, supervisors, managers, workers on hourly basis, customers and suppliers. Being an asset to the firm, an efficient team is facilitated by people which plays an important role across the globe (Cilliers, 2000). Facilitators who are quite expert follow tasks such as meeting management; providing focus points, procedures and role; ensuring the contribution of every person working in the team; discouraging behaviours those are disruptive in nature; helping the team in decision making; having a good communication relationship with every member of the team; and observe the dynamics of the group. Sharing of in formation, solving of problems, making right decisions, correcting the previous decisions are the main job of the teams ("Boost Your Facilitation Skills", 2015). Though, there is a constant complaint of time being wasted in the name of meeting by people. Here is when facilitators are needed, they are to make sure how to manage such important meetings among the team members. Self-Awareness Skills Among the least discussed topics of leadership competencies, this is one of the most important and valuable skills (Levasseur, 1991). It is the consciousness of our abilities and acknowledging them. Being less confident in our todays world is a negative aspect for our work. The lack of self-awareness skills can as well diminish our leadership effectiveness. It is very important that we also acknowledge our drawbacks that we do not know all the things that we do not answers to all the questions, or solution to every problem ("Relationship Among Pre-Service Primary Teachers Level of Self Control Skills and Metacognitive Awareness Skills", 2015). That it is okay to ask for help from others, is what we learn from self-awareness which eventually makes us confident in the long run. The urge of constant learning and openness to innovation is acquired through self-awareness which is the mark of higher performing firms Assertiveness Skills Assertiveness is one of the major characteristics of an able leader. Leaders with low assertiveness level may be viewed as too passive. On the other hand, being too assertive may also be viewed as being hostile as a leader (Harley, 2014). There are, however, and additional descriptor for the assertiveness of a leader such as being deferential, moderate assertiveness, high assertiveness. A particular assertiveness may mean a difference in between leader failure and success. Conflict management skills Leadership has been defined as interpersonal influence exerted in a situation and directed using communication system towards the attainment of specific goals (Gross, 2010). It is basically the ability to form and mould attitudes and behaviour of other individuals. It is the process of influencing others to mobilize and direct their efforts towards specific goals and attain these goals through them (Mans, Suransky, Shimshon, 2010). Conflict Management Styles - Conflict managements avoidance styles aims at postponing or averting conflicts in different ways. Four important styles are mention worthy such as resignation, which is adopted the most unlikely or helpless times; wedrawal, which is the getting or facing away from the conflict; defusion, where we can buy enough time for handling the situation that is conflicting and finally appeasement, which is buying peace that is temporal in nature (Gross, 2010). However, we may face the conflict in the most likely manner by confrontation, compromise, arbitration and negotiation. Leadership skills There are different leadership styles developed by a model by a manager which includes deserter leadership, which is passive in nature; missionary style, which refers to the interest in the harmony by a leader; autocrat leadership, which is being interested in ones own job (Prieto, 2013). Compromiser style, is the leader with poor decision making skill; bureaucrat, which is being primarily or mainly being interested in maintaining regulations; developer leadership, where one trusts people; and benevolent autocrat, who knows how to make things done in his or her own way without any resentment (Adair, 2010). Conclusion These are the few steps which are very important in being an asset to ones company. By maintaining these, in the given case, Jean, the neglected woman can regain her deserving post and salary. It is important that she sticks to every point discussed in the assignment to make a mark at her workplace and build a pleasant relationship with her manager and other staffs. References Adair, J. (2010).Develop your leadership skills. Philadelphia: Kogan Page. Boost Your Facilitation Skills. (2015).The Volunteer Management Report,20(9), 2-2. Dallas, H. (2014). Receptionists must have brilliant people skills.BDJ Team,1, 14012. Emotional Intelligence Skills and Self-efficacy Levels: Physical Education Teachers' Perspective. (2016). Gross, M. (2010). Conflict Coaching: Conflict Management Strategies and Skills for the Individual20101T.S Relationship Among Pre-Service Primary Teachers Level of Self Control Skills and Metacognitive Awareness Skills. Schmidt, J. Cummings, R. (2000).Listening skills. Cheltenham, Vic.: Hawker Brownlow. Cilliers, F. (2000). Facilitation skills for trainers.SA Journal Of Industrial Psychology,26(3). Hess, J. Bacigalupo, A. (2014). Enhancing Management Problem-Solving Processes through the Application of Emotional Intelligence Skills.

Climate change Floods in Queensland Australia

Over the recent past, the issue of climatic change has raised major concern about the well being of the recent as well as the future generation. One of the main issues that have significantly contributed in climatic change is the destruction of the environment. This has impacted negatively on economic activities like mining which plays a significant role in the Australian economy.Advertising We will write a custom research paper sample on Climate change: Floods in Queensland Australia specifically for you for only $16.05 $11/page Learn More The climatic change has been characterized by unpredictable weather conditions. These can be extreme temperatures or extreme rainfall. As a result of these changes, it has become very difficult to make appropriate plans. This has led to huge losses economically. Climatic change has led to increased cases of floods which is a very common problem over the recent. The cases of floods have significantly increased a thing that has caused huge destruction of mines (Cooper, Grey, Raymond and Walker 2004). This has particularly affected the mines since most of them become inoperable when covered by water. A good example of adverse impact of the climatic change is the flood that occurred in Australia in 2010 and early in the year 2011. This has significantly affected the coal mining in the country as well as other economic activities (International Standard ISO/FDIS 31000 2009). The flood cost the economy a large fraction, which was lost to the disaster. Although several measures were taken to mitigate the problem, the flood had an adverse impact on the economy. As already noted, this flood that occurred on December 2010 and January 2011 was one of the most devastating cases in Australia. The impact of this disaster can be measured through its impacts on the level of production (Kaplan and Norton 2000). The disaster affected several sectors in the economy. Some of the most affected sectors are the mining and the agricultural sectors. One of the main measure through which this risk can be measured is through its impacts on the mining sector. The mining sector was significantly affected by the floods during this period. For instance, approximately 20% of the mines around the Bowen Basin were not operable at the time due to the floods (NSW Department of Environment and Climate Change 2007).Advertising Looking for research paper on environmental studies? Let's see if we can help you! Get your first paper with 15% OFF Learn More For instance, most of the mines were covered by water and therefore making it difficult to continue with any operation. Transportation of the coal from the mines was also difficult because the roads were in worse conditions. Therefore, the workers were forced to abandon the mine momentarily. Similarly, about 60% of the primary Queensland’s region was also inoperable (Department of Finance 1991). Most of the companies ceased the transportatio n of coal as the weather conditions deteriorated. The rail lines were also destroyed the fact that led to deterioration of the transportation of coal to the ports (Rowe, Mason, Dickel., and Snyder 1989). According to Grey (1995), about 40 million tones were lost during this period. According to information published by AlertNet (2011), the recent floods in Australia affected about 35 percent of the total estmate of 259 millions tonnes production in Australia. This has cost the coal industry a significant amount of money. This has threatened the level of its performance. The floods led to a closure of about 40 mines in the region. This problem led to a significant drop in the levels of coal production. In the year 2009, the total production of thermal coal fell by about ten metric tonnes from 200.5 to 190.7 (Australian Government: Department of Resources, Energy and Tourism 2011). This broke the upward trend in thermal coal production which had been recorded over the previous years ( Australian Government: Department of Resources, Energy and Tourism 2011). However, production of Metallurgical coal increased by approximately one metric tonne in the same year. This also had a significant impact on the level of total export values. For instance the export value for thermal coal fell from 34, 464 million dollars in 2008 to 18, 628 in 2009 (Australian Government: Department of Resources, Energy and Tourism 2011). This implies that the export value fell by almost a half. Flood can have an adverse impact to the country if not managed appropriately. Therefore, it is necessary to have the necessary mitigation measures. Through application of the various ways, we can eliminate the problems associated with floods. In order to have an effective risk management process, it is necessary to have a close coordination between the community, the government, and the other concerned parties in order to mitigate the risks effectively (The National Flood Risk Advisory Group 2008).Adv ertising We will write a custom research paper sample on Climate change: Floods in Queensland Australia specifically for you for only $16.05 $11/page Learn More The government has the responsibility of implementing the appropriate policies in order to avoid any risk. The community also has the responsibility of ensuring that they know the areas that are more prone to the risks (The Royal Society of London, 1992 and Anonymous 2011). In order to have an effective risk management process, it is necessary to have a critical control of every activity in order to avoid risks (Queensland Government 2002). This will ensure that the risks are minimized in case it takes place. In risk management, it will also be advisable to know the likelihood that the floods will take place (Sai Global). This will help to make the necessary arrangements so that everything is intact before the floods strikes. According to Vose (2000), the risk management requires a good understa nding of the threats and opportunities that are present. For instance, through the strengths and threats analysis, an organisation will be able to identify any variations from what is planned to be done from what is already there (ABARES Special Report 2011). . Through the risk management process, it is therefore possible to overcome future risks or combat its impacts (Botting 2004). As already noted, floods has a devastating effects when it struck a region. It is therefore important for the responsible parties to ensure that appropriate measures are adopted in order to overcome these risks (SCARM 2000). One of the major players in the risk management is the government. The government plays a significant role in various roles in risk managements (Queensland Government, Flood risk and storm water management 2011). In order for any risk management to be successful, it is advisable for the government to participate at all the levels (Jones 2011). For instance, the government has the re sponsibility of ensuring that they are punctual in giving alerts about floods accurate warning to the community (Tweeddale 2003).Advertising Looking for research paper on environmental studies? Let's see if we can help you! Get your first paper with 15% OFF Learn More However, it is necessary to have an effective coordination between various parties in order to have successful risk management process (Queensland Government, Understanding floods: questions and answers 2011). Without coordination, the results of the management process may be poor. The insurance organisations also have a significant role in risk management. Insurance organisations have the responsibility of mitigating any risks posed on the coal companies which they cover (Arnold 2008). The insurance organisations are supposed to secure the coal mining companies against all the losses they may undergo thorough such a flood. Therefore, an organisation will be able to recover fast from the disaster and therefore revive back to the desired level of production. This will also solve the problem of power shortages. Coal companies also have an important role to play in the risk management. For instance, the company like Xstrata should be able to timely know when such floods are likely to o ccur. This will give them enough time to prepare for such risks to suppress their impacts in its production capacity. The company also has the responsibility to follow all the guidelines given by various agencies in order to facilitate the success of risk management process. The community also has the responsibility of ensuring that they follow all the directions given by various agencies (Lindstrom 2011). They must also actively participate in making the appropriate decisions concerning the risk mitigation proceeds. Nonetheless, it is necessary to have an effective coordination between different parties in order to have a successful risk management process Reference List ABARES Special Report. 2011. The Impact of Recent Flood Events on Commodities. ISBN 978-1-921448-85-0. AlertNet. 2011. AlertNet Climate. Web. Australian Bureau of Agricultural and Resource Economics and Sciences, 2011. The Impact of Recent Flood Events on Commodities, ABARES Special Report Australian Government: De partment of Resources, Energy and Tourism. 2011. Australia’s Coal Industry.  Web. Anonymous, 2011. Economic Impact of Queensland’s Natural Disasters. PricewaterhouseCoopers. Anonymous, 2011. Risk Management: Queensland Floods A Risk Headache For Mines. Web. Arnold, M. 2008. The Role of Risk Transfer and Insurance in Disaster Risk Reduction and Climate Change Adoption. Web. Botting, A. 2004. Risk Management Guidelines. Companion to AS/NZS 4360:2004. Chapman, C. and Ward, S., 1997. Project Risk Management: Processes, Techniques and Insights. Chichester, John Wiley Sons. Cooper, D., Grey, S., Raymond G. and Walker P., 2004, Project Risk Management Guidelines: Managing Risk in Large Projects and Complex Procurements. Chichester, John Wiley Sons. Department of Finance, 1991. Handbook of Cost Benefit Analysis. Australia, Australian Government Publishing Service. Grey, S, 1995. Practical Risk Assessment for Project Management. Chichester, John Wiley Sons. International S tandard ISO/FDIS 31000, 2009. Risk management — Principles and guidelines, ISO/FDIS 31000 Jones, D. 2011. Queensland Floods: Bureau Of Meteorology Blames Climate Change. Web. Kaplan and Norton, 2000. Having trouble with strategy? Then map it, Harvard Business Review, Vol. 78, No. 5, September-October 2000. Lindstrom, P. 2011. Economic Impact of Queensland’s Natural Disasters. Web. NSW Department of Environment and Climate Change. 2007. Floodplain Risk Management Guideline on Residential Flood Damages. Queensland Government. 2002. Guidance on the Assessment of Tangible Flood Damages. QNRM02081 15929 Queensland Government. 2011. Flood Risk and Storm Water Management. Web. Queensland Government. 2011. Understanding Floods: Questions and Answers. Web. Rowe, A., Mason, R., Dickel, K., and Snyder, N., 1989. Strategic Management: A Methodological Approach, Third Edition, Reading, MA Addison-Wesley. Sai Global, 2004. Risk Management Guidelines. Companion to AS/NZS 4360:2004 SC ARM, 2000. Floodplain Management in Australia: Best Practice Principles and Guidelines. Agriculture and Resource Management Council of Australia and New Zealand, Standing Committee on Agriculture and Resource Management (SCARM). Report No 73. CSIRO Publishing, 2000 The National Flood Risk Advisory Group. 2008. Flood Risk Management in Australia. The Australian Journal of Emergency Management, Vol. 23 No. 4, November 2008. The Royal Society of London, 1992. Risk: Analysis, Perception and Management. London, The Royal Society Tweeddale, H. 2003. Managing Risk and Reliability of Process Plants. Amsterdam, Gulf Professional Publishing Vose, D, 2000. Risk Analysis: A Quantitative Guide. Chichester, John Wiley Sons This research paper on Climate change: Floods in Queensland Australia was written and submitted by user Tristin Mcintyre to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Technology Prioritization Proposal

Technology Prioritization Proposal IT systems have become indispensable in the management of healthcare. It is clear that modern healthcare systems cannot operate without IT systems. However, the cost of IT infrastructure can be prohibitive. In this regard, every healthcare provider must find a way of prioritizing its IT budgets to achieve the most value from its investments. This paper proposes a method of prioritizing IT spending with the goal of maximizing the value of investments in IT infrastructure.Advertising We will write a custom proposal sample on Technology Prioritization Proposal specifically for you for only $16.05 $11/page Learn More Proposed Prioritization Process The nature of IT infrastructure makes prioritization of IT spending very complex. It is very difficult to quantify the benefits associated with an IT program. This is because IT mainly plays a facilitative role. In this regard, IT spending decisions require an understanding of the value chain of a business. The model proposed for the prioritization of IT decisions in a healthcare setting is as follows. Development of an Information Flow Model for the Facility The first step in the prioritization of IT spending is to develop an information flow model for the healthcare institution. This model should capture all IT-based services in the organization and the information they carry. The model should also identify the people involved in the management of the information. The third aspect of the model is the identification of internal and external stakeholders of the organization. The objective of the information flow model is to develop a full view of the information ecosystem of the healthcare organization. This model will make it easy to analyze the impact of every proposal sent by individual departments. Devolve Spending to Ensure all Departments Maintain Adequate IT Capabilities The second element of this model is to devolve spending to the departments. The council should assign some resources to every department to ensure that they can address their local IT priorities. The council should prioritize projects that promote interconnectivity and the sharing of resources. For instance, if a department requests for a server that can help to manage information from other departments, such a request should receive more attention. The need to devolve a fraction of the spending is that each department has its priorities. Some of the priorities are unique. In this regard, centralized control of IT services can lead to a reduction in the benefits associated with specific IT investments. Identify the Needs of the Organization Thirdly, the healthcare organization should use the priorities identified by the departments to identify common problems and similar infrastructure needs. The list of projects that arise from this exercise will give the organization a picture of its strategic needs.Advertising Looking for proposal on it? Let's see if we can help you! Get your first paper with 15% OFF Learn More If the IT-Council can identify common IT problems that require similar solutions, then it can find out whether it can develop a centralized response to these problems. To use the earlier example, if the healthcare institutions find out that many departments are looking for storage space, a centralized storage facility may be the answer. This will enable the IT-Council to save on the decentralized expenses. Develop a Needs-Based Criterion for Making Funding Decisions The fourth element of the proposed model is to develop a common criterion for funding IT projects. It’s very important to involve all stakeholders in this decision. This is because of the need to create a sense of ownership for all IT projects. Failure to win the support of all departments in this exercise may work against the organization. If some departments fail to appreciate why the IT–Council made a decision to adopt a particular project over others, then they ma y resist its implementation. This will lead to a loss of value. The proposed criteria for the funding of IT projects include the following guidelines. First, the project must support interconnectivity among business systems. Any high level project funded directly by the IT-Council should fit into the information ecosystem of the health care facility. Secondly, the IT-Council should support projects that encourage the sharing of IT resources. This means that the council should only fund projects that can support the largest number of users in the healthcare facility. This will eliminate investment in unwanted spare capacity and will help to maximize the value that the organization derives from its IT infrastructure. Thirdly, IT projects funded by the IT-Council should be scalable. The IT needs of many organizations grow and evolve with time. Scalability can help save money because there will be no need to invest afresh in bigger systems as the needs of the organization grow. The comp any will only need to increase the capacity of existing systems. Establishment of a Permanent IT-Council to Monitor IT Projects The final element of the proposed model is the tasking of the IT-Council with the responsibility of monitoring the IT budget on an on-going basis. It is possible for the organization to establish an ad-hoc IT-Council just in time for its annual budgeting activities. However, an IT-Council that sits throughout the year will ensure that the company gets the highest returns from its spending on IT infrastructure. In addition, the council can act as the custodian of the company’s IT infrastructure development projects.