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Potential Pitfalls with Mergers & Acquisitions

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  Mergers & acquisitions are a viable way for the company to grow faster. But by no way is this route foolproof. Some of the things that can go materially wrong with M&A are below, so do your homework and prepare to avoid these established pitfalls accordingly. 1.      WRONG POST-SALE TEAM The skills needed to build a small stand-alone company are somewhat different from the skills needed to develop a larger company through M&A operations. You want to make sure that everyone has prior experience in dealing with M&A-related problems such as integrating firms, teams, financing, etc. within "Newco" and someone who knows how to run a much larger business, usually with more scalability procedures and controls. Note, the position of the CEO must shift as the organization scales. 2.      MERGING TEAMS & CULTURES Let's face it, mergers are very much like marriages.  You are merging people, personalities and cultures....

Why is employee engagement important?

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  (Buit In, 2019) WHAT IS EMPLOYEE ENGAGEMENT? Employee engagement is described as the degree to which employees are loyal to their employer, excited about their job and engaged in the success of the business. (Sridevi , 2010, p. 89) . WHY IS EMPLOYEE ENGAGEMENT IMPORTANT? Employee engagement reduces turnover They're not going to stick around if your employees don't care about their jobs or your goals. Staff who are actively disengaged are 12 times more likely to leave than their colleagues who are engaged. What is worse, a ripple effect is created by employee turnover. Your top performers know their worth and can quickly get another job. 53% are optimistic that within six months they can find a comparable role. "When your best people start leaving, the rest of your team looks around the office and asks, "What am I missing?”And they'll pack their things. Improving the commitment of workers allows individual contributors to participate in your team, helping you att...

Does Having a Performance Management Program Bring Value to the Organization?

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  What Is Per­for­mance Man­age­ment ? Per­for­mance man­age­ment is the con­tin­u­ous process of improv­ing per­for­mance by set­ting indi­vid­ual and team goals which are aligned to the strate­gic goals of the organization, plan­ning per­for­mance to achieve the goals, review­ing and assess­ing progress, and devel­op­ing the knowl­edge, skills and abil­i­ties of peo­ple. (Az Central, n.d.) How Performance Management Program Bring Value to the Organization? Alignment  A rigorous performance management program helps you to match the job duties of an individual employee with the strategic direction of the company. You can then employ, interview, hire and orient workers to work at your company to accomplish the goals of your company by developing a detailed job structure with specific job descriptions and specified skills and expertise needed to complete work tasks at the beginner, expert and master levels. Productivity  Focusing  employee focus on enhancing business...

Trends Changing the Nature of Work

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  (SHRM, 2013) It once took weeks for a letter to be sent across the country. Sending an e-mail takes only seconds today.  technology and connectivity have changed, the ways in which human resources professionals approach how their workers function should also change. Technological development, outsourcing, changing attitudes and values of workers, demographics and diversity, and globalization are among the trends. Technology.  The line between work life and personal life is still blurred by smart devices that allow continuous connectivity. Kushner said, 'I think one of the problems in HR is trying to find out how to get workers involved without making them work around the clock. Telecommuting and flexible hours are just the first steps down that pathway” of navigating the issues surrounding constant connectivity and work/life balance, he said. Outsourcing.   Companies have come to define which work is critical and which work is not, Kushner said. “Organizations will...

Organizational need to adapt to flexible working

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Working flexibly is more than just a trend. It reflects an enormous shift in the way organizations and their employees handle their work. The lockdown has forced companies to rapidly adjust to new work patterns. And now we're thinking about implementing some of these new practices in the longer term as the constraints begin to ease. What Is Flexible Working? Flexible working is any work pattern that differs significantly from the traditional, office-based, 9 a.m. to 5 p.m. standard. Working from home, working flexible hours, sharing jobs, or a combination of both of these may be involved. Benefits of Flexible Working How Flexible Working Benefits Employees Flexible working has many advantages for an employee. It will help you align the work of the employee with your other tasks, such as caring for kids or an elderly member of the family.   It can also build a sense of independence over the work of workers, which can improve engagement and job satisfaction. Being able to plan ...

Importance of Employee Relations - Why Employee Relations at Workplace?

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  The word 'employee relations' applies to the attempts of an organization to maintain employer-employee relationships. An organization with a strong staff relations program provides all workers with fair and consistent treatment so that they are dedicated to their work and loyal to the organization. These systems often attempt to avoid and solve problems resulting from conditions at work. It is important that workers have a healthy relationship in the workplace with each other. Let us find out why employee relations in a company are important (Management Study Guide, 2018) There are several issues on which an individual cannot take decisions alone. When there is an issue, workers need the support and advice of others. We might miss key points occasionally, but our fellow employees can come up with a genius idea that would help us accomplish our goals at a much faster pace. The pros and cons must be evaluated in an open forum before introducing any proposal, where each employee...

Team roles required for effective teamwork

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  T hrough a study done at Henley Management College, researcher R. Meredith Belbin came up with nine team positions. After studying the behavioral tendencies of people within a group, he defined the team positions. Three types of team roles consist of: action-oriented roles, people-oriented roles, and thought-oriented roles. Teams developed on the basis of the categories of Belbin are successful in achieving their goals because the team has no conflicting positions or missing qualities (Nguyen, 2017, pp. 55-56) . The nine Belbin team roles are as follows (Nguyen, 2017) 01.    Action-oriented Role: Shaper In a team, individuals who are dynamic and enjoy challenges perform the shaper role. Shapers keep a strong mental outlook rather than leave when faced with obstacles, and try to find the best ways to solve the team's challenges.                                    ...