A great debate featured on Fastcompany. As Ashok Soota points out the issue has to be seen at a micro level and a macro level.
At a micro level, one must empathize with anyone who loses a job whether due to offshoring or obsolescence. Assistance in reskilling such persons must be available at a social and structural level.
At a macro level, jobs lost in one part of the economy are replaced by gains elsewhere. A well-known McKinsey study shows that the U.S. economy gains $1.14 in return for every dollar of offshoring spend in India.
These numbers don't take into account the additional gains from Capital investment. For example, the majority of the funding for MindTree and many other companies is from U.S. sources (institutional and individual) who will benefit when we go public.
The U.S., as the world's largest exporter of services, is the largest beneficiary of open markets. Also, countries with more open approach to offshoring like the U.S. and UK have lower levels of unemployment than relatively conservative economies like Germany and France. All of the above reconfirm that offshoring is good for America.
To say that "if the current trends continue, the US will soon be running a trade deficit in its service category" is not based on facts. The US is the world's No. 1 exporter of services (per WTO/Dept of Commerce report 2005) at $318 billion with 15% share of the world services market. The next largest is UK with 8% share. Indian share of the overall service market (of which programming is a part) is a paltry 1.9%. That HUGE gap is not going to go away soon as feared by you.
On the re-skill issue, I must share with you what happened to computer manufacturing in India when the market was opened up to global competition. Most manufacturers had to shut shop and were replaced by IBM, Dell, Compaq and HP. What happened to the people in India who used to manufacture computers? Some re-skilled themselves, some changed professions and some I am sure, were left behind. The onus to learn and add new value is a global imperative.
Friday, June 30, 2006
Thursday, December 08, 2005
Retention becoming a major issue
As the Indian IT Industry gains further momentum and comes closer to achieving its goal of US $50 billion the stakes are becoming high for the small and medium sized companies who are now finding it increasingly difficult to retain trained staff. As is evident from the statistics revealed by Nasscom, the IT industry body in India, the top 10 software companies are growing much faster than the rest and the number of professionals being added to their teams, every quarter, is phenomenal. Where are these people coming from? Whereas some are off course from the IITs, RECs and other training institutes, however, a significant portion are being poached from the smaller companies by promising better projects and a higher salary.
Just the other day I was in a meeting with the promoter of one such company, having around 200 employees across the world, who related an experience which corroborates this viewpoint. He had appointed a software engineer who was earlier drawing Rs 4 lacs per annum at a salary of Rs 6lacs. Within 15 days the employee was back saying that he had got an offer from one of the top 10 companies for Rs 8.5 lac per annum and he would be taking up the offer immediately. The Brand as well as the Salary offered by the Top 10 company won the day. How is the smaller company, as well as all the other such companies in the industry, supposed to tackle such situations?
Are we headed for a situation where most of the offshore work will consolidate behind the top companies and the smaller ones will either be bought out or close? OR is the Supply side going to change significantly in the near future to take care of this problem ?
Thursday, September 29, 2005
Selling your Business
I guess all entrepreneurs have an emotional attachment to their business which prevents them from even contemplating selling the same until circumstances force them to. This is typically true of Indian Entrepreneurs.
Just yesterday I was in meeting where it was established that even though one of the business units of the family was making continuous losses, and there seems to be no way out, still the promoter who had started the same and nurtured it over the years was continuing to cross subsidise the same instead of looking to exit. There are many such similar situations where the promoter’s emotions have prevented the right solution being adopted.
This led me to try and pen down what are the top 5 errors that most entrepreneurs make while trying to divest their existing business.
1. In todays world the only thing constant is change. As such it is most important to decide right at the beginning of a venture as to when you would like to make an exit. It is like the stock market, you invest in a share with a certain return in mind and then stick to the plan or you might end up loosing your shirt. In any case, even in case one has not decided this in advance, one should try and give it enough lead time or else one will not do justice to the exit strategy and end up loosing in the final deal. Further, in most cases the Buyer would want the existing management to continue for a specified period so as to achieve a smooth transition and that time should be also be factored in by the Seller.
2. Selling a business is not like selling Real Estate, although, today, even selling real estate has become complex. Businesses are of various types and shapes and consist of elements which can have a different meaning for different people. As such it is advisable to take the assistance of someone who has handled such transactions and not try to do it yourself. In most cases you will come out ahead by getting a better price. I remember in one of the transactions that I was involved in from the buyers side, one was able to bring down the valuation by more than 50%. The impact ran into millions of dollars.
3. Competition drives up the price. As such it is of utmost importance to try and have more than one buyer or else you end up loosing by not getting the right price. This is true of every transaction in any sphere of life. This too can be achieved by taking the assistance of Investment Bankers/ Management Consultants who specialise in such deal making. It will be well worth the effort.
4. Identifying the right buyer is another important aspect which needs considerable attention. Typically a Strategic Buyer would see a strategic fit with their current line of business and be agreeable to pay a greater price as compared to a Financial Buyer who is primarily looking at it as a specific period investment and would like to see returns by way of Dividends and Appreciation in value over a defined period before exiting. they would not normally interfere with the management of the company except to ensure proper financial discipline and control. A Strategic Buyer would see longterm value as the acquisition would strengthen and add synergies to its main business.
5. Although I have touched upon this in an earlier point, however, I have found that most SME sector entrepreneurs do not know how to project their key strengths / assets that could influence value substantially. You need to identify all your value drivers, both tangible and intangible, more so in case you are in the Services Industry. These could be the credentials of the management, the brand recognition, unique process or process maturity, intellectual property etc.
In the end it is best to remember the Biblical saying “Where there is no vision, the people perish”
Just yesterday I was in meeting where it was established that even though one of the business units of the family was making continuous losses, and there seems to be no way out, still the promoter who had started the same and nurtured it over the years was continuing to cross subsidise the same instead of looking to exit. There are many such similar situations where the promoter’s emotions have prevented the right solution being adopted.
This led me to try and pen down what are the top 5 errors that most entrepreneurs make while trying to divest their existing business.
1. In todays world the only thing constant is change. As such it is most important to decide right at the beginning of a venture as to when you would like to make an exit. It is like the stock market, you invest in a share with a certain return in mind and then stick to the plan or you might end up loosing your shirt. In any case, even in case one has not decided this in advance, one should try and give it enough lead time or else one will not do justice to the exit strategy and end up loosing in the final deal. Further, in most cases the Buyer would want the existing management to continue for a specified period so as to achieve a smooth transition and that time should be also be factored in by the Seller.
2. Selling a business is not like selling Real Estate, although, today, even selling real estate has become complex. Businesses are of various types and shapes and consist of elements which can have a different meaning for different people. As such it is advisable to take the assistance of someone who has handled such transactions and not try to do it yourself. In most cases you will come out ahead by getting a better price. I remember in one of the transactions that I was involved in from the buyers side, one was able to bring down the valuation by more than 50%. The impact ran into millions of dollars.
3. Competition drives up the price. As such it is of utmost importance to try and have more than one buyer or else you end up loosing by not getting the right price. This is true of every transaction in any sphere of life. This too can be achieved by taking the assistance of Investment Bankers/ Management Consultants who specialise in such deal making. It will be well worth the effort.
4. Identifying the right buyer is another important aspect which needs considerable attention. Typically a Strategic Buyer would see a strategic fit with their current line of business and be agreeable to pay a greater price as compared to a Financial Buyer who is primarily looking at it as a specific period investment and would like to see returns by way of Dividends and Appreciation in value over a defined period before exiting. they would not normally interfere with the management of the company except to ensure proper financial discipline and control. A Strategic Buyer would see longterm value as the acquisition would strengthen and add synergies to its main business.
5. Although I have touched upon this in an earlier point, however, I have found that most SME sector entrepreneurs do not know how to project their key strengths / assets that could influence value substantially. You need to identify all your value drivers, both tangible and intangible, more so in case you are in the Services Industry. These could be the credentials of the management, the brand recognition, unique process or process maturity, intellectual property etc.
In the end it is best to remember the Biblical saying “Where there is no vision, the people perish”
Wednesday, September 21, 2005
Blog Search Gets Easier and Better– with Google
The big daddy of search has recently launched its blog search and it works great ! I definitely like the clean interface and the way the results are shown.
Joel Cheeseman has an interesting take on the effect this could have on the online recruitment marketplace. We in the recruitment industry definitely need to give it a serious thought and, maybe, come up with ideas on how to leverage it.
What I will comment on is the crystal ball this offering seems to be for providing vertical search for other content. Say, oh, jobs for example.
Do a search and you'll see how the results are served. You'll notice results take you to actual blog entries and not homepages of blogs - just like they might take you directly to job listings. You'll notice results are incredibly timely.
You'll notice that results are ranked by relevancy. This is a big difference from most of the other blog search engines like Technorati, which default to a date-based sort.
This kind of ranking should be the secret weapon to Google’s blog search success. From limited testing, it appears to be a combination of timing, links, and keyword frequency.
And if you think of this in terms of job postings, the relevancy issue becomes very important. Here's an example: Do a search for online recruiting.
You'll notice that this very blog (Joel Cheesemans) owns a lot of real estate on page one. Am I the only one blogging about online recruitment? Of course not. But you may not know that looking at the results.
Could an employer leverage the same optimization tactics in a vertical search for jobs and push their competition down the ladder of results? You bet they can. And I think savvy employers will do just that.
You'll also notice the ability to get results via your favorite RSS feeder. Say goodbye to e-mail alerts.
For Monster, CareerBuilder, SimplyHired, Indeed, your local newspaper, etc., Google's move shouldn't be a surprise, but it should certainly be a wake-up call to what their futures may hold. In India Naukri, Timesjobs, Jobsahead, Newspapers would be equally affected as broadband becomes cheaper and easily available at low cost across the country. The 800-pound gorilla may soon be coming to their neighborhood too.
Joel Cheeseman has an interesting take on the effect this could have on the online recruitment marketplace. We in the recruitment industry definitely need to give it a serious thought and, maybe, come up with ideas on how to leverage it.
What I will comment on is the crystal ball this offering seems to be for providing vertical search for other content. Say, oh, jobs for example.
Do a search and you'll see how the results are served. You'll notice results take you to actual blog entries and not homepages of blogs - just like they might take you directly to job listings. You'll notice results are incredibly timely.
You'll notice that results are ranked by relevancy. This is a big difference from most of the other blog search engines like Technorati, which default to a date-based sort.
This kind of ranking should be the secret weapon to Google’s blog search success. From limited testing, it appears to be a combination of timing, links, and keyword frequency.
And if you think of this in terms of job postings, the relevancy issue becomes very important. Here's an example: Do a search for online recruiting.
You'll notice that this very blog (Joel Cheesemans) owns a lot of real estate on page one. Am I the only one blogging about online recruitment? Of course not. But you may not know that looking at the results.
Could an employer leverage the same optimization tactics in a vertical search for jobs and push their competition down the ladder of results? You bet they can. And I think savvy employers will do just that.
You'll also notice the ability to get results via your favorite RSS feeder. Say goodbye to e-mail alerts.
For Monster, CareerBuilder, SimplyHired, Indeed, your local newspaper, etc., Google's move shouldn't be a surprise, but it should certainly be a wake-up call to what their futures may hold. In India Naukri, Timesjobs, Jobsahead, Newspapers would be equally affected as broadband becomes cheaper and easily available at low cost across the country. The 800-pound gorilla may soon be coming to their neighborhood too.
Friday, August 26, 2005
Manufacturing Sector – A loosing Battle ?
In the past few months I have had the occasion to work on a couple of assignments looking for HR cum IR professionals for top manufacturing companies in India. I must confess the whole exercise has clearly made me realise the truth in the GDP numbers – that the Service Sector now truly constitutes 51% of the Indian Economy and Manufacturing only 26%. The workforce has also consequently re-aligned and their preference has shifted to the Service Sector (which also paying more !). It has become increasingly difficult to find professionals for leading institutes who are still in the manufacturing sector. XLRI, whose name includes “labour”, seems to turn out graduates who are forsaking the manufacturing sector for the Service Sector. Very few are wanting to get down to the shop floor and ‘dirty’ their hands. At the end of the day, I think, it is a matter of disparity in compensation packages which is resulting in this mismatch.
I guess this is a challenge the Business Heads (alongwith their Strategic HR Heads) need to urgently tackle or else it is going to be a downhill battle.
I guess this is a challenge the Business Heads (alongwith their Strategic HR Heads) need to urgently tackle or else it is going to be a downhill battle.
Monday, August 08, 2005
Employee Recruiting and Retention Ranks as Top Priority - Accenture Study
Here's an interesting study by Accenture which finds that the Topmost priority of the Top Management today is “Attracting and retaining skilled staff”. People issues have dominated the Top 10 concerns of management. This is good news for Recruiters as with “Talent Acquisition” being centre stage their services would be in greater demand for locating high performing candidates through headhunting and their networks. The other Top 10 priorities too are an interesting read.
The study, which Accenture conducts annually, comprised interviews with 425 senior executives at leading organizations in North America, Europe and Asia to identify and prioritize the issues of greatest concern to senior management, understand how their priorities shift over time and identify key forces behind the issues.
Workforce improvement-issues dominated the top priorities, comprising 4 of the 10 most-selected concerns, including the top 2. For instance, the greatest number of respondents, 35 percent, selected "attracting and retaining skilled staff," followed by 33 percent who selected "changing organizational cultural and employee attitudes." Other workforce issues in the top 10 are "improving workforce performance" (selected by 28 percent to rank 7th) and "developing employees into capable leaders" (selected by 26 percent to rank 10th).
"The most powerful theme emerging this year is a strong and consistent focus on people," said Peter Cheese, global managing partner of Accenture's Human Performance practice. "Even though the business conversations have centered on global competition and the need for execution, business leaders are increasingly aware that nothing happens unless people-talent is engaged in the right way."
Customer-retention issues also occupy top spots on executive agendas. Both "acquiring new customers" (32 percent) and "increasing customer loyalty and retention" (29 percent) were popular responses across all countries surveyed.
Innovation also rose on the executive agenda, ranking relatively higher and making it back into the list of top 10 issues on executives' list. "Developing new processes and products to stay ahead of the competition" is the fourth-highest-ranked executive concern, selected by 29 percent of respondents. Another top 10 issue is "being flexible and adaptable to rapidly changing market conditions," selected by 26 percent.
"Innovation, like expansion, seems to be an issue that rises in importance when the economy improves. That may be natural, but it is also short-sighted," said Cheese. "Innovation should never be out of mind - possibly even more so in tough times."
The only IT issue in the top 10 is "using IT to reduce costs and create value," selected by 27 percent of respondents to rank 8th, a sharp decline from its number 2 ranking in each of the past two years. "Although ranked relatively lower, the use of IT continues to be a major focus, as businesses are becoming more demanding in driving value from IT in the form of improving employees' productivity, engagement and capabilities," said Cheese.
Top 10 current business issues for senior executives
1.Attracting and retaining skilled staff 35%
2.Changing organizational culture and employee attitudes 33%
3.Acquiring new customers 32%
4.Developing new processes and products to stay ahead of the competition 29%
5.Increasing customer loyalty and retention 29%
6.Managing risk 29%
7.Improving workforce performance 28%
8.Increasing shareholder value 27%
8.Using IT to reduce costs and create value 27%
10.Being flexible and adaptable to rapidly changing market
conditions 26%
10.Developing employees into capable leaders 26%
About the study
As part of an annual study to identify senior executives' top concerns, Accenture conducted a survey of 425 senior executives at many of the world's largest organizations across all major industries and the public sector in the United States, United Kingdom, Germany, France, Italy, Spain, Japan and Canada. Respondents included executives at the highest levels of senior management ("C-suite" executives) as well as heads of key functional areas, such as human resources. Fieldwork was conducted from October 2004 through January 2005.
The study, which Accenture conducts annually, comprised interviews with 425 senior executives at leading organizations in North America, Europe and Asia to identify and prioritize the issues of greatest concern to senior management, understand how their priorities shift over time and identify key forces behind the issues.
Workforce improvement-issues dominated the top priorities, comprising 4 of the 10 most-selected concerns, including the top 2. For instance, the greatest number of respondents, 35 percent, selected "attracting and retaining skilled staff," followed by 33 percent who selected "changing organizational cultural and employee attitudes." Other workforce issues in the top 10 are "improving workforce performance" (selected by 28 percent to rank 7th) and "developing employees into capable leaders" (selected by 26 percent to rank 10th).
"The most powerful theme emerging this year is a strong and consistent focus on people," said Peter Cheese, global managing partner of Accenture's Human Performance practice. "Even though the business conversations have centered on global competition and the need for execution, business leaders are increasingly aware that nothing happens unless people-talent is engaged in the right way."
Customer-retention issues also occupy top spots on executive agendas. Both "acquiring new customers" (32 percent) and "increasing customer loyalty and retention" (29 percent) were popular responses across all countries surveyed.
Innovation also rose on the executive agenda, ranking relatively higher and making it back into the list of top 10 issues on executives' list. "Developing new processes and products to stay ahead of the competition" is the fourth-highest-ranked executive concern, selected by 29 percent of respondents. Another top 10 issue is "being flexible and adaptable to rapidly changing market conditions," selected by 26 percent.
"Innovation, like expansion, seems to be an issue that rises in importance when the economy improves. That may be natural, but it is also short-sighted," said Cheese. "Innovation should never be out of mind - possibly even more so in tough times."
The only IT issue in the top 10 is "using IT to reduce costs and create value," selected by 27 percent of respondents to rank 8th, a sharp decline from its number 2 ranking in each of the past two years. "Although ranked relatively lower, the use of IT continues to be a major focus, as businesses are becoming more demanding in driving value from IT in the form of improving employees' productivity, engagement and capabilities," said Cheese.
Top 10 current business issues for senior executives
1.Attracting and retaining skilled staff 35%
2.Changing organizational culture and employee attitudes 33%
3.Acquiring new customers 32%
4.Developing new processes and products to stay ahead of the competition 29%
5.Increasing customer loyalty and retention 29%
6.Managing risk 29%
7.Improving workforce performance 28%
8.Increasing shareholder value 27%
8.Using IT to reduce costs and create value 27%
10.Being flexible and adaptable to rapidly changing market
conditions 26%
10.Developing employees into capable leaders 26%
About the study
As part of an annual study to identify senior executives' top concerns, Accenture conducted a survey of 425 senior executives at many of the world's largest organizations across all major industries and the public sector in the United States, United Kingdom, Germany, France, Italy, Spain, Japan and Canada. Respondents included executives at the highest levels of senior management ("C-suite" executives) as well as heads of key functional areas, such as human resources. Fieldwork was conducted from October 2004 through January 2005.
Friday, July 29, 2005
The Hunters and the Hunted
Today’s Corporate Dossier in the Economic Times carries a story on the Recruitment Industry and how the war for talent is helping hunters make a killing. It does, however, lament the lack of talent availability resulting in the Hunters becoming the Hunted. I have been mooting the idea of an organized training program being conducted by our profession for quite sometime now and we have discussed the same in the association (NAESCON) too over the past few months, however, things are moving a bit slowly. I think this article reinforces the crying need for such a structured programme in India and I feel that all members of the fraternity who can contribute to help bring this idea to fruition should come forward and lets create a steady stream of fresh talent for the industry. This is starting to happen in the BPO Industry, so why not in this niche area ? Poaching from each other is definitely not the solution
Thursday, July 14, 2005
Now even the WTO supports Offshore Outsourcing.
Till now it was NASSCOM and its head, Kiran Karnik, who was fighting the battle on behalf of India against “Offshoring” or “Offshore Outsourcing”. However, we now have a WTO Report that has downplayed the impact of Offshoring on production, employment and trade patterns. It has supported its analysis with statistics – the offshoring of IT Services constitutes on 10% (approx) of the total world export of business services. If we look at it in context, IT jobs in the US constitute only 2.3% of the job market of the US.
So what are we really talking about ?
So what are we really talking about ?
Sunday, July 03, 2005
Great Customer Service - through Ownership
WOW ! This experience, related by Jeff Blackman, really makes me envious and has got me thinking as to how one can implement a program to inculcate this ‘ownership’ feeling and consequently such excellent customer service qualities in ones organization. It should definitely be easier to implement in a smaller business organization.
The Ritz Rules!
Who consistently delivers great service?
That's an easy one. The Ritz Carlton. I've never had a bad experience at a Ritz. And if something unexpectedly goes awry, they fix it. Fast!
Three months ago, I stayed at The Ritz in Orlando. The Ritz does little things right. Like at check-in, they offer you a glass of fresh lemonade. (I've noticed that other hotels are implementing a similar service strategy, by offering at check-in, glasses of i.e., champagne, juice or bottled water.)
And when I asked where the elevator was, Dena at the front desk didn't merely point toward the elevator, she personally escorted me there.
Later, at 6:00 p.m., I called room service. The phone was cheerfully answered by Gloria. She took my order and then said, "Mr. Blackman, please let me recap, to make sure I've got it right." (Confirmation now, often eliminates problems later.) I then asked, "Gloria, would it be possible to have dinner arrive at 7:00 p.m., since I'm leaving now to run in the fitness center?" She replied, "Absolutely! We'll see you at 7. Enjoy your run!"
At exactly 7:00 p.m. I returned. I was there, but dinner wasn't. At 7:11 I called Gloria and said, "I'm lonely!" She immediately apologized and said a rush would be placed on my order. At 7:22 there was a knock at the door. It was Rupert from room service. He said, "Mr. Blackman, Gloria and I once again apologize that your dinner has arrived late. Tonight, your meal is compliments of the Ritz."
Whoa! Cool! (Especially since the bill would have been over $350! Chicken nuggets ain't a bargain at the Ritz! Just kidding!)
I thanked Rupert for his gracious hospitality with a generous tip. I also gave him a tip for Gloria. He was surprised, but grateful.
Then, I called Gloria to express my thanks. I said, "Gloria, that was very thoughtful of you to comp my dinner." To which she said something remarkable. It was only a one-word response, but it was unforgettable. She replied,
"Ownership." (Meaning, even if it wasn't her fault, she still owned the problem. And, the solution. She didn't assign blame. She delivered satisfaction.)
I asked, "Gloria, is that your word or are you trained to say that?" Her response, "Mr. Blackman, it's simply part of our Ritz ethics and commitment to our customers." Yikes! I wanted to know where I could buy her books!
Lessons to learn and things to consider:
• What little things are you doing that'll yield BIG results?
• How can you improve your customer's experience?
• How many moments of magic or touch-points do you have with a customer?
What subtleties will elevate their value?
• How do you get others to talk about you and your business with phrases
that begin with:
o You're not gonna believe...
o Wait till you hear what happened to me...
o Have I told you about the time...
The Ritz Rules!
Who consistently delivers great service?
That's an easy one. The Ritz Carlton. I've never had a bad experience at a Ritz. And if something unexpectedly goes awry, they fix it. Fast!
Three months ago, I stayed at The Ritz in Orlando. The Ritz does little things right. Like at check-in, they offer you a glass of fresh lemonade. (I've noticed that other hotels are implementing a similar service strategy, by offering at check-in, glasses of i.e., champagne, juice or bottled water.)
And when I asked where the elevator was, Dena at the front desk didn't merely point toward the elevator, she personally escorted me there.
Later, at 6:00 p.m., I called room service. The phone was cheerfully answered by Gloria. She took my order and then said, "Mr. Blackman, please let me recap, to make sure I've got it right." (Confirmation now, often eliminates problems later.) I then asked, "Gloria, would it be possible to have dinner arrive at 7:00 p.m., since I'm leaving now to run in the fitness center?" She replied, "Absolutely! We'll see you at 7. Enjoy your run!"
At exactly 7:00 p.m. I returned. I was there, but dinner wasn't. At 7:11 I called Gloria and said, "I'm lonely!" She immediately apologized and said a rush would be placed on my order. At 7:22 there was a knock at the door. It was Rupert from room service. He said, "Mr. Blackman, Gloria and I once again apologize that your dinner has arrived late. Tonight, your meal is compliments of the Ritz."
Whoa! Cool! (Especially since the bill would have been over $350! Chicken nuggets ain't a bargain at the Ritz! Just kidding!)
I thanked Rupert for his gracious hospitality with a generous tip. I also gave him a tip for Gloria. He was surprised, but grateful.
Then, I called Gloria to express my thanks. I said, "Gloria, that was very thoughtful of you to comp my dinner." To which she said something remarkable. It was only a one-word response, but it was unforgettable. She replied,
"Ownership." (Meaning, even if it wasn't her fault, she still owned the problem. And, the solution. She didn't assign blame. She delivered satisfaction.)
I asked, "Gloria, is that your word or are you trained to say that?" Her response, "Mr. Blackman, it's simply part of our Ritz ethics and commitment to our customers." Yikes! I wanted to know where I could buy her books!
Lessons to learn and things to consider:
• What little things are you doing that'll yield BIG results?
• How can you improve your customer's experience?
• How many moments of magic or touch-points do you have with a customer?
What subtleties will elevate their value?
• How do you get others to talk about you and your business with phrases
that begin with:
o You're not gonna believe...
o Wait till you hear what happened to me...
o Have I told you about the time...
Friday, July 01, 2005
Oil Price and Shortage of Jobs
Just the other day Business Today carried a story on Skyrocketing Salaries and things could not have been looking better. However, experts tell us that everytime there has been an oil price surge in the past it has been followed by a recession leading to a shortage of jobs. Should the Recruiting Industry be concerned - as the oil price has crossed US$ 60 and as per the Goldman Sachs warning, issued earlier this year, it could cross US $105. Experts have said that a small blip in the production could have a dramatic impact on oil prices as a small demand supply imbalance could heighten the actual effect.
Being an optimist and a believer in the fact that there are still some good and intelligent men and women at the helm of affairs of this world, I hope the situation will not go out of hand and we Recruiters will not be left chasing clients and consequently jobs, as well as the skyrocketing salaries, would not just vanish.
How are the others reading the future ?
Being an optimist and a believer in the fact that there are still some good and intelligent men and women at the helm of affairs of this world, I hope the situation will not go out of hand and we Recruiters will not be left chasing clients and consequently jobs, as well as the skyrocketing salaries, would not just vanish.
How are the others reading the future ?
Subscribe to:
Posts (Atom)
Posts
