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Is BANI the New VUCA?

Category: Leadership

Is BANI the New VUCA?

I talked extensively about the VUCA world not too long ago. For the longest time, the VUCA concept has helped developing organizations navigate through world dynamics such as Volatility, Uncertainty, Complexity, and Ambiguity.  However, with the COVID-19 pandemic and its…

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High EQ Leadership- The Need of the Hour

High EQ Leadership

The Best Leadership Mentoring in Canada, M2M Business Solutions is considered among Top Business Growth Consultant in Toronto, Canada, United States (USA).Our extensive experience consultants and dedicated team of Professional Leadership Consultants make us well poised to emerge as the…

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BANI VS VUCA: What Should You Prepare
For?

The Best Small Business Consultant in Canada, M2M Business Solutions is considered among Top Advisory Company in Toronto, Canada, United States (USA).Our extensive experience consultants and dedicated team of Professional Business Consultants make us well poised to emerge as the…

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Leadership and Spirituality – A Deep Connection

The Best Leadership Development Training in United States, M2M Business Solutions is considered among Top Corporate Leadership Training Programs in USA. While we all know Steve Jobs as an innovator, inventor, and entrepreneur, his spiritual inclination is seldom talked about. …

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Company Workplace Culture Isn’t The Foosball Table

The rapid rise of startups across the world has made them the flagbearers of modern company culture.  With the likes of Google and Facebook redefining employee perks, such additional benefits are now being treated as the foundation of company culture. …

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Winning in the Employee Retention Game

Over 1 in 6 Job Offers are Rejected in the US and 1 in 3 Employees Likely to Quit Within the First 90 Days – How Can Organizations Tackle this Huge Challenge? This basically means right from giving job offers…

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Inspiring stories – Breaking through the ceiling of your comfort zone

“Life begins at the end of your Comfort Zone” -Neale Walsch But that’s easier said than done. Yes, we’ve all heard TED talks and motivational speeches about how possibilities open up when you step out of your comfort zone –…

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Customer Experience Innovation- The New Battlefield for Businesses 

Published in Forbes Jeff Bezos famously said, “We innovate by starting with the customer and working backwards. That becomes the touchstone for how we invent.” He probably envisioned the importance of driving customer-centric innovations to stay ahead of the competition. …

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Hiring Challenges 2022

Job Hunting is like Going to a Buffet Meal For Candidates- What Does This Mean for Organizations and Their Leaders? Ever been to a buffet brunch? If you're like me (which I'm sure most of you are), you'll look around first to know what all's there. And you probably try a few dishes before going for the kill. That's what job hunting has become for most candidates today. With the global talent shortage hitting us harder than ever, organizations are unfortunately on the other side of the buffet trying to get people to take their food. ‘The Great Resignation’ challenge (Read what I wrote about it on Forbes) isn’t helping the cause either. And that’s not the end of it. Businesses today are challenged with building two businesses simultaneously - business of today and business of tomorrow. According to McKinsey’s 2021 Global Report, business leaders expect almost 50% of their revenues by 2025 to come from products, services, or businesses that do not yet exist. This means that the role of a future-ready workforce would be more critical than ever. Talent acquisition is the first step to achieving this colossal undertaking. However, the pandemic has introduced newer challenges that require business leaders and HR professionals to refine their hiring practices. Here’s my take on what appears to be the biggest hiring challenges in 2022- 1. Re-defining the Candidate Experience According to a CareerBuilder study, nearly 4 in 5 candidates say the overall candidate experience they receive indicates how a company values its people. Recruitments are no longer a one-way street. The playing field has levelled or rather tilted in favour of candidates over the last few years. Just as organizations are looking for candidates who are the right add-on, candidates too, are looking for organizations that match their values and fulfil their expectations. Businesses today can no longer overlook candidate experience. Here’s how businesses can refine or re-define the candidate experience- • Streamline the application process • Write clear and concise job descriptions • Communicate regularly and be accessible • Notify the candidates at the earliest if a position has been filled 2. Addressing Talent Shortage By 2030, the skills gap and talent shortage in the US alone is expected to total a loss of $8.5 trillion, as per a PwC report. The demand for talent has been significantly exceeding the supply for quite some time. This trend is expected to continue well into the future. Building a qualified talent pool or a database of candidates interested in working for your company can protect your organization against talent shortage. A few tips that can help you build a qualified talent pool are- • Build a talent community landing page • Add the sourced candidates to the talent pool • Try to re-engage candidates who didn’t make the cut • Engage graduates-to-be and students. Catch them young. 3. Finding Talent That Rightly is an Add-on to the Organization Culture According to a CareerBuilder survey, 2 in 3 workers say they accepted a job only to realize it was a bad fit later. Almost 50% of such workers quit their jobs within 6 months. Organizations employ innovative interview techniques and advanced tools for assessing the competencies and skills of the candidates. But even ones who are found to be the best in the screening process might not always be the right choice for your organization. While they might be a great technical fit, you also need to ascertain the cultural competencies. If you don't hire employees that align with your culture, your organizational culture will eventually fit around your employees. Here’s how organizations can find technical and culturally fit employees- • Clearly define the company culture • Convey company culture in all the hiring materials • Train the HR staff on how they should discuss the company culture with the applicants • Provide candidates with an immersive overview of the company culture 4. Managing Salary Expectations and Hiring Costs A Pew Research Center survey suggests that 56% of Americans who quit their jobs in 2021 are now employed and are making more money than before. While every employee should be adequately paid as per their skills and experience, it is equally important to maintain your hiring costs. This is especially true in the post-pandemic world, where almost 47% of the organizations have reduced their recruiting budget, says a LinkedIn report. Here are some tips to help organizations reduce their hiring costs- • Build an employee referral program • Use advanced recruiting software for reducing cost per hire • Use your social channels to find the right candidates • Promote internally and provide adequate training 5. Onboarding - The Last Piece of the Puzzle About 30-40% of employees quit their job within the first six months. And the cost of replacing an employee can be about 1.5-2 times their annual salary. If your onboarding isn't right, you're going to lose out on all that hard work put in by your organization in recruiting that top talent. Many businesses today confuse onboarding with orientation. Orientation is the start, but onboarding is

Job Hunting is like Going to a Buffet Meal For Candidates- What Does This Mean for Organizations and Their Leaders? Ever been to a buffet brunch? If you’re like me (which I’m sure most of you are), you’ll look around…

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The Great Employee Recall: What Lies Ahead?

Published in Forbes The prolonged confusion and uncertainty due to the COVID-19 pandemic have made organizations precarious in their response approaches. While several businesses have succeeded in innovating and adapting to the changing circumstances, things are far from over.  With…

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