Blog Archives

‘Bitty Learning’ overtakes MBAs as the new Career Cache.

Why would The Wall Street Journal report that MBA applications across the world are down three years running? Isn’t an MBA a sure ticket to a high paying and interesting career?

At Slade Group we’re very interested in labour market trends and skills matches, but it’s been a long time since we’ve heard the phrase ‘an MBA would be highly desirable’ as a criteria for hiring.

There seem to be three indicators for the decline in the attraction of MBAs:

  1. Follow the money
  2. Currency of skills
  3. ‘Value Added Ratio’

Follow the money: The money’s left Wall Street, Collins St, Pitt St etc and is headed for wherever the Technology sector lives. While MBAs are useful in the tech sector, software engineers, mathematicians, systems engineers, machine learning skills are in more demand.

Currency of skills: Big jobs data tells a rich global story. At the recent Nous Group forum, Burning Glass Technologies’ Matthew Sigelman, joined the data dots to build the picture for skills, education and employment.

Skills are the unit of currency and they’re on the move. Traditional degrees can now carry less weight than relevant skills based learning like Lean Six Sigma or PMP Certification.

The big question raised at the Nous forum was how do we, as individuals, employers and governments reskill more often, and take charge of our future? Read more here.

Value Added Ratio: MBAs cost a great deal so when the ‘added value ratio’ doesn’t add up for someone who failed or nailed their GMAT, the attraction to an MBA course also declines. In lockstep, huge hikes in course costs have matched flat lining and declining salaries for MBA graduates. From 4:1 first year salary to course cost to a 1.8:1 ratio, the MBA flavor has soured.

The fact is that an MBA can now be worth less than the sum of its bitty parts.  It all trends towards upskilling for in-demand expertise throughout our careers as a pathway for growth and success. In response universities are finally starting to unbundle their degrees and allow for macro and micro learning programmes.

We’re in the middle of interesting times!

What is your experience in your world of learning @work?

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Posted in The world @work

3 non-business books that will improve your confidence at work

The other day I was having a conversation with someone about confidence in the workplace. I mentioned a book that I read a number of years ago on the subject which really changed the way I think about confidence, and gave me an armful of useful tools that I found incredibly helpful. This got me thinking about other books I recommend people read, so I’ve put together my top three work-and business-related books. These are not your run-of-the-mill, dry, ‘serious’ reads. They are not even books you would find in the business section of a bookshop. But they are books that are worth reading because they provide wonderful insights into the world @work, and how we can perform as our best selves at work.

The Confidence GapThe Confidence Gap, Russ Harris
Written by psychologist Russ Harris, The Confidence Gap is the perfect book for anyone who feels they are being held back by a lack of confidence.  Harris has written an approachable, easy-to-read book that explores how a lack of confidence can affect many areas of a person’s life, and looks at real, clear suggestions to work through it. It’s not an easy book to read in the sense that if you really want to make changes in this area you will have to have some tough, honest conversations with yourself. But it is easy in the sense that it is written in clear language, and breaks down complex concepts into easily understandable stories and ideas.

QuietQuiet, Susan Cain
This book explains what introverts are, how they tick, and what the pitfalls of introvert/extrovert interactions can be. I would recommend this books for introverts, extroverts and anyone who isn’t sure where they fall on the spectrum (but would like to figure this out). Cain looks at how the business world, especially in America, has for almost a century, celebrated extroverts and build a system that favours their personalities and mode of working. Cain argues that because this system is not designed for introverts, it is difficult and often tiring for them to navigate. However, this doesn’t mean that it isn’t possible for an introvert to not merely navigate, but to thrive in a world of extroverts. Cain provides tools and techniques for introverts negotiating the extroverted world of business, and for introverts and extroverts to figure out how best they can work together.

Unfinished BusinessUnfinished Business, Anne-Marie Slaughter
This book is (in my opinion) a sort of unofficial sequel to Lean In, the blockbuster work memoir written by Facebook CEO Cheryl Sandberg in 2013. It’s a look at how work-life balance is something worth striving for, but that the make-up of that balance may change over time. Slaughter says that it’s important to ‘lean in’ at times, but that it is just as important and necessary to be able to lean out at times too. She advocates for a world where we can accept a promotion and work like the devil for a couple of years, then dial things back for another couple of years, perhaps  to care for family members, or pursue study. Slaughter writes passionately and persuasively for her vision of a flexible and changing attitude to work over our lifetimes.

What are your top reads for personal and professional development?

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Posted in The Interchange Bench, The world @work

Are you hiring to fit today or tomorrow?

When you see candidates, do you imagine the possibilities and give them scope to realise their potential?

In recent weeks leading universities have advocated strongly for the removal of the traditional means by which students are selected for tertiary places – the Australian Tertiary Admission Rank (ATAR), describing the existing process as “out-of-date”, “irrelevant” and “meaningless”[1].

As the Vice-Chancellor of Swinburne University, Professor Linda Kristjanson, said this week, universities are very experienced at assessing student potential. Indeed it is the potential for learning and developing in a chosen field of endeavour that is so important to nurture and encourage in a young person (or a mature aged student); rankings only provide a narrow assessment of a student’s capability.

Of course for higher education providers, an assessment of academic ability is necessary, but it should be accompanied by evaluating a broader set of needs. In business, hiring organisations are most interested in an individual’s potential for growth.

Undertaking tertiary study is just as important and as potentially exciting as beginning a new career (or a new position within a chosen career), so why be restricted by a narrow measure of suitability? To encourage people to be successful, institutions should be supporting them through coaching and mentoring, nurturing their passions. As they advance, they need to display a humble willingness and desire for ongoing learning, while honing an industry sector, role or technical specialisation that’s appropriate to the workplace and aligned to the future employment market.

Universities, and employers, have always looked for motivation, sound communication skills and evidence from applicants that they can look beyond themselves to positively contribute to the wider community. Candidates, therefore, need to be able to show initiative, adaptability, creativity and teamwork. These indicators of a person’s potential are certainly assessable from a recruitment perspective, but not by some narrow measure.

While universities continue to debate the assessment of students, recruiters and hiring managers recognise a close fit between the needs of an organisation and the potential of a candidate is vitally important. For employers to achieve a more productive, dynamic workforce and be competitive in the international marketplace, a focus on potential as well as ongoing collaborative learning for all employees is required.

High-performing organisations will always emphasise professional development and executive recruitment should reflect that too. When you see candidates, imagine the possibilities and give them scope to realise their potential.

Is your organisation looking to the future in this way?

  1. ATARs are irrelevant, vice-chancellors say‘, The Age, 8 February 2016
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Posted in Slade Executive, The world @work