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

How to attract ‘in demand’ talent in a candidate short market

Highly capable jobseekers always have options when deciding who they want to work for, but now it’s more important than ever for your organisation to sell its benefits to prospective employees.

If you’re serious about attracting the best talent, the days of the “It’s a privilege to work here” mentality are long gone.

What’s changed?

In Australia’s major cities, professionals are lifestyle conscious and a significant portion of the working population fall into a demographic with an established career who don’t have to take a job out of desperation and can afford to be selective when deciding where to work.

Companies that candidates are currently employed in have adapted, adopting flexible working arrangements and they are expecting their new company will be as progressive as the one they are leaving. The 2017 Deloitte Millennial Survey showed that 84 percent of millennials reported some degree of flexible working in their organisations.

Here are my five top tips to land the perfect candidate:

  1. Ensure you are familiar with your EVP and leverage it at each stage of the hiring process.
    HR and Recruitment teams have been working hard to implement Employee Value Proposition (EVP) programs to further enhance the brand and jobseeker experience.
    Update yourself on everything on offer that makes your organisation attractive to prospective employees (you never know there might be something that you are unaware of, and can take advantage of yourself).
  1. What are the other benefits of working with you and your team?
    If you are a hiring manager, think about some of the other selling points you can use to attract the best candidate to your company and team… social activities (sports teams, team events), technology, fruit box, interesting projects, etc.
  1. Be a brand ambassador
    Being a brand ambassador for the organisation should be part of your personal branding in your day-to-day business activities anyway, but it is critical to share that vision with a prospective employee when you have the opportunity to do so face-to-face, at interview. Don’t forget the employer branding can have an effect on future perception and sales of the business.
  1. Don’t be surprised if candidates are forthright with their requirements
    Candidates may ask you about flexible working hours, working from home options, career progression, along with learning and development opportunities. Five years ago these questions were less likely to be asked; fast forward to 2018 and these are the commonly asked questions, which you must be prepared to talk about with candidates.
  1. Corporate social responsibility is high on the millennial agenda
    Younger generations are socially aware, so working for an organisation that helps to give something back to the community is appealing and will attract talent to your team.

If you are struggling to find good talent to join your business, maybe it is time to revisit your EVP so you can ‘sell the company’ more effectively. Be more flexible in your thinking on working hours and consider hiring on potential, rather than current skills and experience.

How has your organisation evolved over time to the changing nature of the world @work? What are some of the features of your EVP?

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Posted in Slade Executive, The world @work

Nowadays, flattery will get you nowhere

How the pendulum has swung! Just ten years ago when making approaches to potential candidates by phone, I could virtually hear their flattered voices. In 2018 those potential candidates are fielding calls from numerous consultants for multiple roles, and in those voices I now sometimes detect the sound of annoyance.

The market is as tight as ever with organisations needing top technical talent yesterday. The ever-expanding landscape in Victoria and NSW particularly driven by major infrastructure projects, means that technical specialists and executives are constantly in high demand.

As a recruiter, change is something we encourage. One of the reasons I am proud of the brand we have at Slade Group, is that we thrive on our ability to swim upstream in an industry where it can often be easier to go with the flow… We work with our clients and candidates so that even though we’re headhunters, nobody we work with ever feels they have been randomly targeted to end up as ‘professional roadkill’.

How do we break away from the pack?

We don’t expect candidates to move quickly. Would you? If someone called you out of the blue asking if you wanted to look at another job, would you blindly give your details? I wouldn’t. We take the time when we reach out to candidates to get to know them, their career aspirations, their likes and dislikes, and what they do for fun. We figure out if the candidate is the right fit for an organisation’s culture, and if a certain company culture is the right fit for the candidate. It goes both ways for the candidate and the client. Success and growth should be attainable for both parties, and it’s the long-term picture that we look at when we’re recruiting for a role.

We retain our work. Slade Group work with a large majority of our clients on a retained assignment basis, which is when we take a part payment from engagement to placement of the candidate. I know, you’re probably wondering why someone would pay up-front for a service they can get from a number of others, but it’s because when we take a retained assignment we see it as a project: If you paid someone to do your homework, you’d expect to receive an A+. This is exactly how we approach our retained assignment projects.

We take a thorough brief from the client, we take the time to understand what they need and don’t just guess what they need. We commit our reputation, time and effort just as much as we ask the client to commit to us, and with that commitment we do it properly. We have the best research team in the business who we engage to map the market to help establish your strategy. We want to get this right for you, as if we worked at your company.

We set realistic expectations. When we engage with our clients, we set expectations and we don’t take an assignment we can’t fill. We work with you and guide you through our shared journey. You receive a detailed schedule on what to expect when, and we leave you to get on with your day job.

If you’ve been headhunted, what was the experience like? What would you look for when considering the best way to recruit for your business?

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Posted in Slade Executive, The world @work

EOFY – trivia, observations and reflections

I’ve just finished an interview with an accountant… (insert your joke or comment of choice)… for a Financial Controller role. Actually it’s a great opportunity with a small private investment company.

I generally start an interview with an easy general question like, “How’s work?” In this case the response was, “Flat-out! I’m super busy because of EOFY (End of Financial Year).” Makes sense and I’m sure there are thousands of accountants around Australia who are saying the same thing.

According to that font of all modern wisdom, Wikipedia, Australia is one of only a small list of countries that use 1 July to 30 June as the financial year. Others include New Zealand, Japan and Egypt. In comparison the US use 1 January to 31 December and the UK is more unusual, being 1 April to 31 March for government. UK businesses can choose any 12 month period.

Given that much of Australian law and business practices have British origins, you might expect that we would have a similar EOFY. Some sources suggest that our reverse seasons compared to the Northern Hemisphere mean more Australians are on holiday in January and at work in the winter months. I’m not a Mythbuster, so I’ll just say that is plausible.

In my patch of the recruitment world, financial services, three out of four major Australian banks have changed to 30 September as their EOFY. Most other financial services organisations that I work with ie. industry superannuation funds, fund managers, smaller banks, investment consultants and private wealth managers, use 30 June as EOFY.

What I’ve seen in the last few months is lots of strategic planning for next financial year and establishment of budgets. Generally I’d say recruitment intentions are quite positive.

For many of us EOFY is a busy time, trying to complete work. Now is a chance for a quick spot of reflection and strategy refinement: What worked, what didn’t and how can we improve?

OK reflection done, there’s calls to be made!

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Posted in Slade Executive, The world @work

The changing face of the CEO

You may think you know what a CEO looks like – those of us who regularly work with senior people in other organisations or at a strategic level within our own – can picture some of the qualities common to those individuals who have been successful in business leadership roles. Yet it strikes me as an executive recruitment consultant who is regularly engaged in the hiring process for C-Suite roles, how the expectations for a CEO’s capability has changed in recent years.

Of course there are underlying leadership behaviours that have not changed: setting the vision, developing a daily dialogue, being clear about expectations… What I’m really talking about is the changing marketplace of the consumer – customer behaviour is forcing companies to do things differently, while evolving work styles have put pressure on CEOs to alter their tack.

Looking at trends in the C-Suite over the last 20 years, PWC reports, “Another interesting trend is that disruption is increasingly prompting boards to turn to external hires, rather than internal candidates, to fill CEO positions. They hope to capitalise on the experience and skills that these individuals bring from another organisation, or even another sector.”

While that’s good news for those of us in the recruitment business, it’s a timely reminder of the need to constantly reassess our hiring practices. Here is a sample of the types of questions that are (or should be) on the table, from my recent discussions with selection panels for senior hires:

  • Can this person build relationships with stakeholders to prioritise our key objectives for the next 12 months?
  • What digital, social media and other technology capability can this person bring to the role?
  • What exposure has this person had to gender equality and other diversity initiatives when acquiring talent and team building?
  • What global network do they have to drive capability within the organisation?
  • What recent experience does this person have in engaging, managing and motivating a high performing team?
  • How much does this person know about modern performance management processes?

In the current market, intangible qualities are increasingly highly valued. As organisational culture expert John Burdett reminded me in a seminar I attended earlier this year, successful CEOs need to be effective communicators. They must be authentic, engage the whole organisation in a meaningful way, not just report at Board level. They are storytellers who can articulate how things will be achieved in detail – jargon old or new, simply won’t cut it. Enthusiasm for the job and a sense of humour won’t go astray either.

What changes have you observed in the face of senior leadership in recent years in your world @work?

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Posted in Slade Executive, The world @work

Daniel Goleman explains why Eco-intelligence is a thing

There’s EQ, there’s IQ, and now there’s Eco Intelligence. Except the ‘now’ is 10 years old and I’m late to the party.

How did I even hear about this? A few weeks ago, a bunch of us were rabbiting on about the relative EQ and IQ of a recent senior appointment, and our visiting international expert added, “And of course you’d have taken into account their Eco-Intelligence.

I nodded in zealous agreement, Yes, of course, Eco-Intelligence, at the same time my mind was shooting blanks.

Since then, I’ve done my homework. If like me you didn’t know Eco-intelligence was a thing, then let me bring you up to speed in 2 minutes.

The term, first coined by Daniel Goldman is the title of his 2009 book Ecological Intelligence. It has gained traction through consumer action, apps and websites such as GoodGuide. Where it has still to gain traction is in the hiring of senior managers who can embed eco values and an eco-culture.

Explaining it in his compelling straightforward style, Goleman has a 90 second video that’s worth viewing.

Daniel Goleman Connects Emotional and Ecological Intelligence

Daniel Goleman explains Ecological Intelligence

In it, he explains the rapport we build with other humans is ‘I-to-You’. Or we might fail to build mutual rapport because we use a command and demand approach, which is ‘I-to-It’. And that’s how we can also understand Eco-intelligence. Namely, if we are mindful of our rapport with the earth, respectful and open to giving and taking, then that’s high Eco-Intelligence. If we strip the earth of its potential, command, demand, and show no respect, then that’s low Eco-intelligence.

At a consumer level, Eco Intelligence has been brought to life with Apps and websites such as GoodGuide. GoodGuide’s mission is to provide consumers with the information they need to make better shopping decisions. Consumers can choose products that contain ingredients with fewer health concerns, while it gives retailers and manufacturers compelling incentives to make and sell better products. There are also environmental impact assessment tools too that help corporates and individuals assess their production, distribution and consumption decisions.

How do you create eco values at your world @work, and how do you embed Eco intelligence in your decision making?

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Posted in The world @work

Attitude’s the biggest threat to the world economy?

Experts at the World Economic Forum release yearly updates assessing the biggest dangers facing the world economy. Environmental concerns have jumped up the list and now global warming tops economists’ concerns.

Last month I attended an Australian Credit Conference hosted by a large global credit rating agency. The event was well represented by investors and large business organisations. With a number of questions put to the audience, everyone had an opportunity to vote on the topics offered. The popular choice was along the lines of: “What do you think is the biggest threat to the Australian economy today, the cost of carbon reduction or the environmental issues associated with greenhouse gas pollution?”

At the risk of being controversial, it was shocking to me that the business community, as represented at the event, thought changing our (dirty) energy habits would be more disastrous economically than climate change. I was quite surprised that the majority of attendees felt our biggest economic threat is the effect of carbon reduction measures. Surprised, because I assumed those in attendance to be well-informed people with access to plentiful resources about current environmental concerns.

While our business leaders need a crash course in environmental awareness – I’d like them to sit through Al Gore’s An Inconvenient Truth or a screening of Leonardo DiCaprio’s documentary, Before the Flood – I was left wondering whether the majority of Australians in the world @work can see the effects of climate change as it is happening right now? Polls show increasing support from people at grass roots level on a range of environmental issues, including a carbon tax and green energy, but change begins with positive leadership, agitation and support from the community at large.

The potential cost of doing nothing to halt the damage to our planet is incalculable. However, it seems obvious that funding for renewables and other innovative carbon reduction energy solutions is being stalled by vested interests. It took a tweet from Tesla’s Elon Musk (who has famously offered to solve South Australia’s power problems with battery technology in 100 days) to fire-up the State Government and engage the Federal Government in the conversation. It was encouraging to see expressions of interest from local competitors in the battery market, but it’s going to take more than an ex Vice President, a Hollywood actor and an entrepreneur to kick-start a (much needed) renewables boom.

The World Economic Forum says failing to mitigate climate change will likely have a bigger impact globally than the spread of weapons of mass destruction, mass involuntary migration, predicted water crises and a severe energy price shock – Australian consumers have experienced significant energy cost increases year on year, abolishing the Clean Energy Act notwithstanding. Instead of funding massive foreign owned coal mines, as the Queensland Government-Adani partnership proposes, or championing newer but less responsible energy sources, such as coal-seam gas (fracking was recently banned in Victoria), let’s invest in the industries where local businesses and communities also have a future. I’d love to see our manufacturers of solar panels, wind farms, battery cells and other alternative innovations receive most of those investment dollars.

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Posted in Professional Support

Resourcing the new Infrastructure State. A challenge for Victoria?

Victoria – The Infrastructure State. It could be a number plate. The Melbourne Metro Rail project is underway, level crossings are being replaced, plans for ‘sky rail’ continue to cause controversy and an airport train could be back on the agenda. For roads, the Tulla freeway is being widened, the West Gate and Bolte will get improvements, and the Victorian Government is considering a proposal to build the ‘missing link’ Western Distributor.

Last December at the Engineers Australia Transport Year in Review, I listened with interest to Corey Hannett, Coordinator General, Major Transport Infrastructure Program on the current infrastructure program of works scheduled for Victoria. From a project resourcing point of view, the Government’s main concern is the lack of skilled project leaders to deliver this ambitious program of works.

Key themes presented were:

  • Ensuring the right balance between public and private resources to manage multiple, overlapping projects within optimum timelines
  • Sourcing skilled project leaders across different disciplines, including CEOs, Project Directors, and Senior Project Managers
  • Diversity in the Construction sector

From an executive recruitment perspective, these concerns certainly mirror our experience when consulting with organisations in building, construction and engineering over the last 12 months: Demand for experienced, diverse and specialist talent is at a premium. As the momentum for construction work Australia-wide continues to gather pace, the question remains how do we address this to help the immediate needs of Victoria?

There are serious concerns about poaching staff being felt across the sector, which is experiencing significant problems with retention (a fact that’s not lost on us when headhunting). Here are three points that were raised to consider when hiring, which also resonated with me:

  • When considering a candidate’s abilities, look for transferable skills, taking the time to consider all of their work history, not just the first page of the CV
  • You don’t need someone who has done the exact same job, you need someone who can do the job
  • Victorian employers may benefit from staff attrition with the completion of major projects interstate or could source talent from other sectors where demand has subsided, such as mining (particularly in WA and QLD)

I will be a keen observer over the next few years to see whether we have the appetite to meet the talent demands of the Infrastructure State.

What measures do you think are needed to address talent shortages for major infrastructure projects in your state? Share your point of view to continue the conversation.

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Posted in Slade Executive, The world @work