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Conquering Prejudice

The Smart Manager

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November-December 2017

According to Horace McCormick, Program Director of UNC Executive Development at the University of North Carolina Kenan-Flagler Business School, unconscious biases are a fact of life. Everyone harbors them—and takes them into the workplace. Unconscious biases in the workplace can stymie diversity, recruiting and retention efforts, and unknowingly shape an organization’s culture. Unconscious bias can skew talent and performance reviews. It affects who gets hired, promoted, and developed— and this unwittingly undermines an organization’s culture.1

- Archana Jerath

Conquering Prejudice

It is no secret that organizations and businesses often rely heavily on the proficiency of their respective human resources departments to execute critical hiring decisions. Selecting suitable candidates from a sea of applicants to take up a position in a company can be challenging, to say the least. That being said, there are I undoubtedly key factors that determine the hiring process. The business and its HR department should comprehend and appreciate the same values and considerations to ensure that the new recruits meet the requisite qualifications, are able to uphold performance standards, and equipped to adapt to the company culturally. Recruitment is of critical importance in any organization since it affords the company and departments a window of opportunities to align employees’ skill sets with their plans and targets, and for overall growth.

In addition to bringing a valuable resource on board, a well-thought-out hiring decision offers several other benefits and advantages. It safeguards the organization, helps it avoid legal issues, and keeps the costs of hiring like advertising, time consumed to conduct interviews, and the cost of training a new employee from growing rapidly. A bad hiring decision can lead to an increase in these costs since the entire process has to be started and completed again to find the replacement. This causes a glaring escalation in the turnover cost for the company and increases the HR department’s workload. A bad hire can also bring down the overall morale and cause stress in the long run and possibly cause loss of business due to myriad reasons such as inefficiency and lack of proper attention. The long-term effects of a hiring decision on an organization are undeniable, which is why it is important to watch out for the factors that may affect it. One such factor is bias.

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… technology will radically disrupt HR in the near future. Indeed, it is already changing the way HR works and the role it plays and opening the door to a new type of “digital HR” function.1 The rise of digital and social media is changing the dynamics of HR and creating new ways of hiring, engaging, and retaining employees.

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time to read

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Kay Kendall and Glenn Bodinson, authors of Leading the Malcolm  Baldrige Way, shatter myths about excellence models such as Baldrige and EFQM.

time to read

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March/April 2017

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Proponents of Isolation Never Become Victors

Multilateralism in the political and economic space has always led to frameworks that favor the mighty. WTO was no exception. With agriculture kept out of its purview, it could never become a truly fair and free trading system. China was the only large emerging economy that exploited relative openness in low-cost manufactured goods to take full advantage of the system. Other emerging economies could at best garner minor gains.

time to read

1 mins

March/April 2017

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A History Lesson (From Year One) for Trump and the Brexit Crowd: Isolationism Has Never Worked!

Professor Stephane Garelli on growing isolationism.

time to read

3 mins

March/April 2017

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A Win-Win Game

Business is not a sport where some stakeholder has to lose or fare badly for others to do well. Building an atmosphere of trust and transparency between all stakeholders will help companies retain them even during adverse times.

time to read

7 mins

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A Sustainable Model

With a total market value of $4.3 trillion and an employment base of at least 1.3 million direct employees and millions of others indirectly employed, platforms have become an important economic force.*Companies today are constantly looking for ways to build platforms—Infosys Ltd announced its plans of monetizing its platforms to make them a $2 billion business by March 2021. But are all platform businesses successful?

time to read

9 mins

March/April 2017

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Custom Made

…three in four consumers said they receive too many emails from brands, and one-fifth said they could not handle the current volume…69 per cent have ‘unfollowed’ brands on social media, closed their accounts or cancelled subscriptions.*In these times, when the market is flooded with products and services, the most efficent way to engage customers is to offer them customized content. To achieve this, brands need to focus on observing the nuances of individual preferences.

time to read

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March/April 2017

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Three experts reflect on their experience of pursuing a management development course and how it reshaped their journey.

time to read

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Fighting The Trolls

The number of people who feel bad reviews have the power to make or break their business has risen from 17% (2014) to 21%. * However, most are struggling to find the right solution. Along with the benefits it provides, the internet also has a dark side. Today, it has become a cesspool of hatred where users openly abuse individuals or companies without any hint of shame or guilt. This culture of trolling has tarnished the brand image of several companies. It is time organizations anticipate such situations and design strategies to combat the menace.

time to read

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January/February 2017

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