Expert Tips to Manage a Modern-Day Workforce

As recently as 10 years ago, most Americans wanted full-time work, replete with job security, benefits, annual reviews and retirement savings. Now, more workers are shunning W-2 positions in favor of working in the gig economy as part-time employees, on-demand employees, independent contractors and other nontraditional 1099 workers. Conservative projections show that 47 percent of our workforce will generate income via nontraditional work by 2020.

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The shift to a blended workforce of traditional W-2 employees and nontraditional contract employees presents a new set of challenges for companies with management processes designed for the needs of full-timers. New strategies are required for companies now tasked with managing multiple categories of workers at once – each with different values and motivations.

These three tips can help companies not only manage, but thrive in this new landscape.

1. Use onboarding as bedrock for success.

All categories of employees deserve proper onboarding, so don't skimp on integrating project-based workers into your workforce. Onboarding helps newcomers gain the knowledge, skills and behaviors to be productive contributors to the business, and research shows a direct correlation between effective onboarding and financial results. Additionally, if the onboarding is done properly and with consistency, it will set a strong foundation of core values within your company, no matter how diversified your workforce gets.

Follow these tips for onboarding nontraditional employees:

Ask, don't just tell. Many companies fail to take the time to get to know their nontraditional employees, which sends a signal that you're not invested in them. Create a set of questions and run through them with your nontraditional employees to give you a chance to get to know them better. Ask about their personal goals, what they hope to get out of their new role and their work style.

Help them forge connections early on so they're more inclined to seek out information and feedback from others within the company. This can be as simple as walking around the office with new employees and making ample introductions, or teaming them up with a well-connected work buddy. Make sure the introductions happen within the first couple of days and among all categories of workers.

Make culture a centerpiece of your onboarding process. Nontraditional employees, in particular, can struggle to assimilate into new cultures or may bring their old culture with them. Walk them through your mission, vision and company values so they are tied to the same greater purpose that traditional workers share. Also, consider putting together a small pack of welcome items that reflect your culture to help it resonate.

2. Manage with inclusivity.

There are nuances that make it tricky to manage a total workforce when each category of worker innately has different priorities and requirements.
Nontraditional employees often enjoy more flexibility than their traditional counterparts, but they rarely receive the performance reviews or benefits that keep full-timers motivated and goal-oriented. 

Nontraditional employees will do their best work when they are engaged and included, and full-time workers accept nontraditional workers best when they are treated as insiders. That's why it is vital to foster an inclusive culture, from the top down, that supports and celebrates all categories of workers.

Here are some tips for building an inclusive culture:

Include nontraditional workers in team meetings, happy hours, volunteering events and other functions. Give them the same opportunity to participate in social and professional development teams and to be recognized for their contributions.

Consciously create cross-functional teams that include both traditional and nontraditional workers. This not only strengthens the relationship between the workers, it also results in collaborative diversity and helps spur creativity, as contractors may have new and different ideas.

Make goals or KPIs clear to all groups. In fact, go a step further and create a measurement system where they're all assessed on a few of the same components. For example, one companywide KPI could be how all workers exemplify company values in their daily work.

3. Institute a formal offboarding strategy.
 
Offboarding has moved from a nice-to-have to a must-have strategy with the shift toward a hybrid employee work environment. Offboarding nontraditional employees is as much about providing a positive experience as it is about gathering information to funnel back into your management strategies. If contract workers enjoy their experience with your company, it is likely they will come back when you need to flex your workforce again. A pipeline of previously trained and satisfied nontraditional workers is an incredible asset. In addition, ex-employees carry a large impact on your employment brand, which also impacts the future of your recruitment.

Here are some tips for positive offboarding:

When it comes time for them to exit, survey nontraditional workers about their time with the company, including how they would improve the experience for others in the same position.

Chart the trends that emerge in their responses over time, and use that data to stay a step ahead in your staffing and management processes.
Compliment them on their performance, if warranted, and invite them to come back for future nontraditional needs.

Intentionally building and managing an inclusive, multi-category culture is a must for companies that intend to thrive and scale in the new workforce landscape. There is no one right set of best practices for every company, but with some experimentation, you can find how to attain the best results for your goals and culture.

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Strategies To Drive Your Career Success In 2018

Imagine getting up every day feeling stalled in your career. You greet the world with your best smile and can do personality, and you’re even achieving the results that are expected of you, but you dread Monday mornings. To the outside world, you are winning but deep down inside you are unhappy and your energy is waning daily.

You are not alone. According to Gallup’s State of the American Workplace report, nearly 70% of U.S. employees are disengaged at work. Often when I am coaching clients who are unhappy in their careers, they tend to initially focus on external factors like their boss and the work environment. However, they quickly realize that the most important and game-changing factors for driving their careers are themselves.

1. Start with the end in mind: Visualize the outcome you want to create for your career by the end of 2018, and consider the following questions: What is my vision for my career? What type of experiences do I want to have? What type of impact do I want to have on the world?


A powerful tool that I have used to help clients articulate their career visions — and that I’ve used personally — is a vision board. A vision board is a visual representation of the big picture you want to create for your career and life. Vision boards can be extremely powerful in illustrating your career hopes, dreams and aspirations in a way that inspires you to strive for them.

2. Determine your career motivations: In Shakespeare's Hamlet, Polonius famously says, To thine own self be true. It’s extremely important to understand your motivations and how they align to your career. Starting from a blank canvas, consider what’s important to you in your next career opportunity. What are the intrinsic and extrinsic benefits you desire?

Extrinsic benefits are typically tied to compensation, for example, paid time off, profit-sharing, salary or bonuses and stock. Conversely, intrinsic benefits are non-tangible and are often tied to emotions. Intrinsic benefits may include words of praise, meaningful work, learning and development, autonomy and work-life balance. One exercise my clients leverage to categorize and prioritize their career motivations is to write down their Must Haves, Nice to Haves and Trade-Offs. After completing the exercise, they have a deeper awareness of what’s most important to them.

3. Redefine your strengths and weaknesses: Earlier in my career, my manager at the time shared with me their perspective of my core strengths and weaknesses. Even though I didn’t particularly agree with my manager’s opinion, I moved forward on the prescribed trajectory. Once I began to feel disengaged in my career, I decided to redefine my strengths and weaknesses on my own terms.

I leveraged the brilliant work of Marcus Buckingham, a motivational speaker, business consultant, author and performance management expert, to help me redefine my strengths and weaknesses. According to Buckingham, your strengths are what light you up and energize you.

Think about the work you’ve done when you lost track of time because you were so engaged. Once you understand these strengths, it's time to get clear about your weaknesses. Typically, when people think of a weakness, they automatically think about a limitation. But Buckingham believes a weakness is any activity that weakens you or zaps your energy. You may even be good at it. Once you understand your weaknesses, you're able to determine what type of opportunities would add meaning to your career and life.

4. Leverage your network: Recently I was speaking to a client who wanted to accelerate his career in a different direction. When it came time to discuss relationships that could potentially support his career transition, he couldn’t name one person. Having the relationship capital to support you in moving your career forward internally or externally of your organization is truly invaluable.

As you evaluate your network, explore sponsors, mentors, previous managers, colleagues and other relationships that will help you in accelerating your career. If the relationships don’t exist, create them. With nearly half a billion professionals on its platform, LinkedIn is a tremendous tool for building new connections.

5. Implement an accountability system: Any viable business has an accounting function with checks and balances to ensure the achievement of financial goals. Similarly, it is critical that you have an accountability system in place to support your career goals. One aspect of the system is to have a career plan with key goals and milestones. Because 92% of people who set goals do not achieve them, consider engaging a professional coach, mentor, colleague, community of practice or friend as your accountability partner.

Steve Jobs once said, Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle.

Now is the time to move forward with owning and driving your career success no matter what. As we enter the new year, get clear about the outcome you want to create for your career, determine your career motivations, redefine your strengths and weaknesses, leverage your network and implement an accountability system to accelerate your career.

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Resume and Job Search Trends in 2018

In 2013, CareerBuilder surveyed thousands of hiring managers, human resource professionals, and workers across industries. 58% of the employers pointed out typos as the most common problem they saw in resumes. 36% of them said they were seeing resumes that were too generic, and 32% of them identified copying a large amount of wording from the job posting as a problem.

 If you want to stand out, the resume has to be perfect.

We contacted John Laurens, a  human resources manager from Resumes Planet. Job applicants see typos the smallest problem. You can easily get rid of most of them if you use Grammarly or similar software. However, software won’t bring your resume to perfection. There are grammar and spelling mistakes that you can’t notice yourself, - he says.

Biggest trends among job seekers in 2018: When you’re not proficient in resume writing, you can rest assured that you’ll make a mistake. You’ll either write a generic resume or you’ll get into too many details. A professional writer is aware of the standards of different industries. Job applicants are finally realizing they can improve their chances of getting the interview call if they hire a writer to complete or improve their resume

Personality Will Play an Even Greater Role

In August 2017, the unemployment rate in the U.S. was similar to the trend we’ve been experiencing for years - 4.4%. This means that 7.1 million people are unemployed. What does this mean for a job hunter? Huge competition. What does it mean for a recruiter? Plenty of resumes to review.

The hiring manager will look for the candidates with the core skills needed for the specific job. The personality traits, however, are just as important. Employers want people who would fit into their office culture. Your resume can convey your personality up to a certain point, but you’ll have to do something more: follow up.

Laura Handrick, human resources staff writer at Fit Small Business, agrees. Job search continues to be personal. People don’t hire form paper, they hire people they trust will do a great job in the role. - she says.

So after you apply, follow up in any (and maybe every) way you can - contact the recruiter on Facebook, or look for someone you know who works there in your LinkedIn account. My last resume sent via Indeed was never found by the staffing agency. It was only when I sent an InMail to the recruitment firm owner that I was contacted, asked to resend it via email, contacted by the recruiter, scheduled for interviews, and hired. If you fail to follow up with a phone, email, postcard or other form of human contact, you may as well have placed your resume directly into the shredder.

Social Media Will Get More Important

A recent survey showed that 70% of employers are screening candidates via social media before hiring them. 54% have decided not to hire a candidate after screening their social media profiles, and 57% are less likely to consider someone for an interview if they can’t find them online.

That’s how serious social media reputation is in the hiring process. The trend is going to get even bigger during 2018. Scott Wesper, hiring manager for Arch Resources Group, agrees:

As 2018 draws closer, social media will play an even bigger role in job search trends. When you compare the number of users overall, Facebook wins in a landslide victory over LinkedIn. Facebook has 1.86 billion users, while competitor LinkedIn has only 433 million members. Most Facebook profiles are filled with important demographic information like age, past job titles, employer information, educational background, and even interests. This will be key for employers as they target their job ads in order to reach the candidates with the proper credentials.

Digital Resumes and Portfolios

In 2015, the Pew Research center conducted a survey called Searching for Work in the Digital Era. The results showed that 54% of U.S. adults were looking for job information online, and 45% had applied for a job online.

The Internet is the most important resource during the job hunting process. You don’t use it just to search for a job. It’s also a medium that presents you as an ideal candidate. That’s why you’ll have to work on your digital resume and portfolio, since more employers will be interested in that factor in 2018.

Alec Sears, human resources manager from Frontier Communications, says: In 2018 you will see a shift towards digital resumes and portfolios. The format of the resume itself won’t change much; it is simple and succinct and there’s a reason that it’s stood the test of time. But sites like Indeed and Glassdoor make it easier than ever to take that resume and send it out to dozens of potential employers at once. Wise job-seekers will utilize personal websites, online portfolios and even LinkedIn connections to stand out.

Did you hear that? Wise job seekers will have personal websites. They will also have an impressive online reputation that’s visible through social media. They will be getting professionally-written resumes and they will make an effort to show their personality after submitting them. As a wise job hunter, those are the trends you should be aware of.

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Improve Work Morality in a Team

Communication of organisational values and ethics is critical for any team. It is important to provide clarity when it comes to the values of work ethic, says James Agrawal, managing director, BTI Consultants. Team leaders ought to regularly communicate in crystal-clear terms the things their team members need to know to live out those values, he says.Aditya Narayan Mishra, CEO, CIEL HR Services, says leaders must walk the talk while conveying their beliefs and thoughts to their teams. Several organisations fail ethically when the leaders fail in either or both these areas, says Mishra. Their employees fail to get a coherent idea of the desired behaviours.Hence their customers do not receive a consistent experience.

Training Programmes on Ethics

Companies should emphasise educating employees on workplace ethics. These activities will stress on the fact that em ployees must foster and abide by the ethical code of the organisation, says Nikhil Barshikar, managing director, Imarticus Learning. Agrawal of BTI Con sultants says a few members of the top level management can lead ethics and compliance training programmes. Such initiatives should be customised to dif ferent roles and departments since a single programme cannot cater to the needs of the entire organisation, says Agrawal.

Appreciate and Reward

Creating a reward system that encourages a positive work ethic would help in establishing the equal importance of workplace ethics in comparison to achieving rewards for exemplary performances at work, says Barshikar of Imarticus Learning. Agrawal of BTI Consultants said, Awarding and recognising those who adhere to work ethics through monetary and other incentives will motivate them to continue doing so, and will also inspire others to follow suit. To achieve this, HR heads could integrate low levels of customer complaints and teamwork into annual appraisal templates. They should make the criteria transparent so that employees realise they will be rewarded for being ethical.

Be a Role Model

If the workforce observes a leader as their role model, it would be simpler for them to stick to the company's norms and ethics.Top management conducting themselves in a professionally ethical fashion will set an example for teams to follow, says Barshikar. It is also critical for corporate leaders to play the role of a coachtrainer and reiterate the work culture and ethics.

Empower People

An ethical organisation empowers its people at all levels by defining the work methods clearly, setting goals at the right time, measuring performance and publishing them regularly. Organisations sometimes fail to define work processes clearly, set clear goal, lay down methods to measure performance and publish results, says Mishra of CIEL. In such a scenario, one is not sure how well one is faring. Hence employees remain tentative about the moves they make at work; they tend to look to their reporting manager for instructions.And some unscrupulous elements take advantage of the prevalent disempowerment and follow their own ways. Hence it is critical for an organisation that wants to drive a culture of ethics to empower its people across hierarchy

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HR Management Systems

Flexible and scalable

Swarovski, for example, moved onto a new system hosted on Workday in the hopes of achieving more transparent, efficient and simplified people processes, while supporting new ways of working and catering to changing organisational objectives.

Beyond that, the organisation was looking to empower its people and line managers to make data-driven and fact-based people decisions.

Earlier this year, hotel search platform Trivago, was seeking out a cloud-based HR solution capable of providing one single source of truth for employee data, while empowering HR leaders and managers with better insights to make faster and more accurate decisions.

The company also needed a platform that its 1,300 employees globally could access at any time and from anywhere in the world.

Using Workday’s Human Capital Management, the deployment saw Trivago transform day-to-day HR processes, such as compensation, absence management, time tracking, recruiting, expenses and performance and development.

We needed an HR solution that provided the technological platform for a single, always-up-to-date database – a solution that was flexible and especially scalable as we grow, says Sian Williams, Business Operations and Strategy – Talent Solutions at Trivago.

It is fantastic and also new for us that we’ll be able to use the system no matter where our people are, or which device they are using.

Indeed, as Workday’s President David Hope notes, whether it’s collecting real-time staff feedback or managing contingent workers, companies today understand that with business needs constantly evolving, having the flexibility and freedom to design functionalities based on priorities, is the ultimate key.

Our clients are already exposed to a comprehensive suite of functionalities that encompass many of (these) trends, says Hope.

I think more important than designing any specific new feature for one particular client is the ability to continuously innovate and update our software to meet the fast-changing needs of the modern HR landscape, as well as to tailor our systems to specific client needs.

But many companies are also avoiding bespoke systems that are overly complicated and difficult to maintain.

Hope says that Workday’s technology enables customers to configure their rules and policies without requiring extensive customisation or coding, which means they are not adversely affected by upgrades.

Real-time functionalities

Times Software, the winner of two awards at HRM Asia’s Readers’ Choice Awards this year,  foresees increasing demand for fully digital solutions that provide real-time employee engagement integrated with a performance management system able to facilitate  consistent, two-way communication between management and employees.

At present, the service provider is experiencing a surge in clients requesting for more interactive performance reviews, as well as dashboards that are able to boost interaction and engagement of employees, says Managing Director Charles Liaw.

Alongside the increase of temporary workforce management inquiries, largely from the hotel industry, and the growing demand for mobile-enabled features such as geo-tracking and push notifications on apps, Times Software ensures that the latest trends can be easily integrated into its systems.

We ensure our solutions are built with constant improvements in mind. That is why our products are easily enhanced in accordance to the market needs, says Liaw. For example, the company is currently in the process of adding data analytics, and has also built a broadcast facility, in which temporary jobs are advertised via SMS and with mobile push notifications.

Liaw agrees with Hope, saying client organisations appreciate platforms that are not fixed with limited functionalities.

A one-size-fits-all approach is no longer feasible in HR as different companies have differing needs. Therefore, we provide a basic platform which is flexible for customisation.

Moving with market trends

In Singapore, where the bulk of Times Software’s clients are based, the government’s call to move towards a Smart Nation is expected to see greater development on the mobile technology front.

Liaw foresees an increase in digitisation of payment methods in particular.

The government’s push for cashless technology means that there will be more payment options available and we wouldn’t be surprised if in the near future, petty cash for claims will all be paid through QR codes instead of physical cash, he says.

The major technology companies’ development race in Artificial Intelligence (AI) will also see robotics technology mature, although Liaw says it will still be a long time before this plays out.

Still, there will be more integration of AI in almost every sector, and that includes HR solutions.

Deep learning will become part of HR solutions, where the system is able to learn about the company’s trends through repeated usage, and then make improved recommendations to users, says Liaw.

AI will enable more productivity as menial functions such as delegation of tasks will all be done by the system.

Disruption in developing countries

Similar changes have also begun happening in developing countries in Southeast Asia.

At the recent Cambodian Federation of Employers and Business Associations, law and tax advisory firm VDB Loi shared how the world of traditional HR was being rapidly disrupted with cloud computing, social media, mobile technology, and analytics changing the way businesses are run across the region.

In order for companies to keep pace with these trends, it is essential to take their HR processes into the digital era, said Dara Ouk, Business Development Manager of VDB Loi.

Ouk further stated that by 2020, digital natives will comprise more than 50% of the global workforce, which will present a new set of challenges for any HR teams still prioritising traditional strategies. Employee engagement and development; attracting top talent; retaining and rewarding this talent; and performance management are just some of the issues that business leaders and HR professionals will face.

In late-2015, VDB Loi entered a partnership with technology firm Microimage HCM Asia in Myanmar. VDB Loi employed Microimage’s digital HCM Cloud solution, which was customised for the niche market based on VDB Loi’s local data, knowledge and expertise.

The HCM solution enables companies to maximise the full potential of digital technology while receiving a consumer-grade user experience that is intuitive and interactive. The solution works across all devices including mobile.

Just last month, the legal firm also rolled out the platform across its Cambodian offices.

Taking HR into the digital era with a platform that was designed for the future generation of digital natives is the only way organisations will be able to attract, retain and motivate the right talent and remain relevant

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Change Your Career With These Strategies

Study your new industry and get clear on the job you want.

Every career comes with a series of headaches and ugly truths. What type of lifestyle do you expect to have Are you clear on the expectations of the new career path

How long is the typical workday Do people typically work on holidays What are some of the challenges and trends in the industry

Connect with at least three people who have worked in your new career for at least five years.

Use social media to follow people in your anticipated career, study their backgrounds, and build relationships with them so that you can learn the inside scoop about what it’s like to work in the field.

Sharpen your people skills.

During a career transformation, relationship building, negotiation, communication, and persuasion are key because you will have to sell yourself as well as your transferable skills to at least get an invite for an interview.

Prepare your connect the dots story – Many people think they have to hide or downplay their experiences from their past career. But with a career change—short stories help employers or even a potential investor see how you’re a great fit for a new role or position. So to connect the dots between your past experiences, prepare a 1-2 sentence story that articulates your value and showcases how your skills and experiences are relevant to the new career.

Send an email to a few friends or colleagues and explain your desire to switch careers. Ask them if they can connect you with someone who may have some insight.
Master your mindset.

Understand this, you can’t get the promotion without going through the process. What sacrifices or investments are you willing to make When switching careers, many people face a serious skills gap, which may require that you take a lateral move, apply for an internship later in life, or invest in courses. Are you willing to take a pay cut or accept a lower level position so you can increase your skill set

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Most Popular Master In Finance For Acquire A Job In Singapore Banking

The Masters in Finance (MIF) qualification is slowly gaining traction in Singapore, a city where mid-career banking professionals have traditionally preferred taking MBAs.

But where should you study if you want a MIF that will help you boost your finance career in Singapore

We searched our CV database for financial professionals in the Republic who have a Masters in Finance to their name, and we found out which business school they attended. We then ranked the 15 most popular of these universities to produce the table below.

Because the MIF has only recently emerged as a popular qualification in Singapore, the data set is not yet large enough to examine the business function of graduates or the type of firm they work for (but you can click here for our global list of top MIF schools for getting front-office jobs at leading investment banks).

However, our numbers do show that spending tens of thousands of dollars to study abroad may not be worth the effort.

Of those who attended one of the top-15 business schools, 60% studied locally – either at a domestic college (SMU or NUS, for example) or at a Singapore campus of an overseas institution such as ESSEC or INSEAD.

If you do want to leave Singapore for your Masters in Finance, one city stands out: London. The four most popular foreign-based courses – London Business School, London School of Economics,
Imperial College, and Cass – are all based in the British capital.

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