Friday, May 18, 2012

Women as Customers ….


Women as customers comprise a powerful economic force .. In fact a Harvard Business online article mentions :

Globally, they control about $20 trillion in annual consumer spending, and that figure could climb as high as $28 trillion in the next five years. Their $13 trillion in total yearly earnings could reach $18 trillion in the same period. In aggregate, women represent a growth market bigger than China and India combined—more than twice as big, in fact. Given those numbers, it would be foolish to ignore or underestimate the female consumer. And yet many companies do just that, even ones that are confident they have a winning strategy when it comes to women.

Source -http://hbr.org/2009/09/the-female-economy/ar/1

So what are companies doing to understand this important customer segment .. Various initiatives right from having a well defined diversity and inclusion approach ,  embark  on market research studies , to designing women friendly products etc.

The same Harvard Business online article mentions :

In 2008 the Boston Consulting Group(BCG) fielded a comprehensive study of how women felt about their work and their lives, and how they were being served by businesses. It turned out there was lots of room for improvement. More than 12,000 women, from more than 40 geographies and a variety of income levels and walks of life, responded to our survey. They answered—often with disarming candor—120 questions about their education and finances, homes and possessions, jobs and careers, activities and interests, relationships, and hopes and fears, along with their shopping behavior and spending patterns in some three dozen categories of goods and services. (You can learn more about the survey and take an abridged version of it at www.womenspeakworldwide.com.).

The BCG study mentions that :
Women have become the dominant engine of the economy worldwide, and are the primary drivers of changing spending patterns and accelerating social change across the globe. The "movement" has only just begun: women will demand more, better goods, will grow economically, and will take more leadership jobs.
Three key factors are accelerating the rate of change:
  • Education
  • Career opportunities
  • Politics and social leadership

So it goes without saying that you have to acknowledge  the presence of women in all spheres and take actions accordingly to win all kinds of war – talent , competitive business etc ..

You can participate in the ongoing study at https://www.113.vovici.net/se.ashx?s=13B2588B0BCE859F





Wednesday, May 16, 2012

Change ….

Change related communication is essential to ensure that the employees are able to make a smooth transition to the desired state . In today's day and age where change is the only constant it only becomes essential that as HR professionals we hone our change management related skills . So what does the preparation entail :

-understanding of the change management related models

-deep understanding of the organization system , culture , design

-a thorough understanding of the need for change and  its obvious business repercussions  and the intended objectives

-sponsorship from all key stakeholders( very very critical )


-a communication plan in place with key milestones around it



 Change could be both small and big ranging from change in work conditions, to job descriptions , to organizational  structure , compensation and benefits structure or massive organizational transformation . But corporate denizens need to be aware of this important aspect of organizational life ..

Wednesday, March 28, 2012

Organizational Politics

It is an integral part of our corporate existence and yet we shudder to speak about it . We speak about it in hush hush .. terms as if the censor board is after us lest we are caught talking . There are electives around Organizational politics in many prestigious management institutes . But it is something that you may tend to learn more on the job and thru experience .There is even a free link to check your political savvy and here it is :

http://www.politicalsavvy.com/docs/quiz.html

Tests how politically savvy you are and provides feedback on the score as well …

This is taken from a book -Political savvy:Joel de Luca ( author of the book )


The host of books around this topic are

Joel R. DeLuca, Ph.D. led us through a discovery-based exercise from his book Political Savvy: Systematic Approaches to Leadership Behind-the-Scenes. Until recently, few books explained how to use political competence to build one’s career, improve a team’s results or boost the company’s bottom line. Samuel B. Bacharach, director of Cornell University’s Institute for Workplace Studies, published Get Them on Your Side. Rick Brandon and Marty Seldman have written Survival of the Savvy: High-Integrity Political Tactics for Career and Company Success. Art Kleiner weighs in with Who Really Matters: The Core Group Theory of Power, Privilege, and Success and then there is The Empowered Manager - Positive Political Skills At Work by Peter Bock

These books shed light on this crucial competency-political savvy which every leader needs to master.


So in normal day to day circumstances and organizational practices like performance management ratings, career progression decisions , job person match ie placement of people in organizations , deciding colleagues for high profile assignments there is a whole host of subjective parameters and factors that come into play and then the ones who did not get positively affected by those decisions would typically say – organizational politics at play etc . But what is the extent of its importance in organizational life ? That is upto the individual employee to decide and see the extent to which it affects them and look at the way it can be positively leveraged to ensure that there is a win win situation .. In situations where the decision is unfavorable the emotional quotient rather than IQ would come in the forefront to deal with complex situations . The aspect related to EQ here is understand yourself and others ie the motives, triggers etc . This is easier said than done . We could have a situation eg where a high profile star performer gets a good rating year on year and then may be for whatever reason is given a rating which did not match the performance / output and the past track record amongst other things ? So what is the answer for this situation . It is left to your interpretation and experience to derive insights out of this situation …


In their book Political Skill At Work(By Gerald R. Ferris, Sherry L. Davidson and Pamela L. Perrewe), the authors mention that the most common and effective methods for developing political skills that lead to influence are drama-based training, executive coaching and mentoring. Networking also helps create influence. And the authors explore research showing that women and minorities tend to have less political skill than men, often because they have less power in the office than men and because women in particular may view politics as an impediment to getting the real work done.Political skill enhances the work lives of those who have it in several ways.In an environment where employers increasingly "hire for fit"--seeking candidates who seem to match well with the organization--candidates with good political skills will seem to fit anywhere because they can read the situation well and use networks effectively.



Here's a definition of Politically Savvy for your perusal

Political Savvy
The ability to exhibit confidence and professional diplomacy, while effectively relating to people at all levels internally and externally.
Key Behaviors
Demonstrates an understanding of the interrelationships, roles and responsibilities of your organization.
Develops and maintains professional relationships.
Uses knowledge of the organizational culture in making decisions and perceives the impact and implications of such decisions.
Identifies when issues need to be escalated to higher authorities and effectively alerts appropriate officials.
Demonstrates sensitivity to surroundings and acts accordingly in conversations.
Perceives organizational and political sensitivities and acts accordingly.
Understands the political environment, management priorities, staff roles and responsibilities, and grasps external factors impacting the organization.
Ensures positive outcomes and mission achievement.
Understands corporate priorities, cultural norms and unwritten rules for success.
Understands different people’s attitudes about power and politics and adapts personal approaches for optimal influence.
http://hr.od.nih.gov/workingatnih/competencies/core/political.htm

Ideas for Developing this Competency:
· Serve on a community outreach program.
· Read the newspapers, books and other publications with comprehensive political analyses (several available on-line). Expose yourself to opposing viewpoints on particular issues.
· Listen to radio and TV programs which cover political issues.
· Speak with people in your organization who understand the internal and external politics that affect the agency.
· Participate in statewide leadership team meeting in some role such as scribe or facilitator.
· Serve on a nationwide policy group.

Diversity and Inclusion

Diversity and Inclusion are very critical in the context of winning the talent war and as a company we have taken a lot of positive steps in the past few months. We formed the MSD Women's Network(MWN) sometime back .It is and employee resource group that works for the professional and personal development of the target group and in this case here it is the women colleagues in MSD . We have worked around various parameters and dimensions ie improving representation of women in the sales force , encourage employees to give female referrals thru the employee referral scheme , focused initiatives for the career development of the women folk , participate in drives/ marathons etc related to business cause like cervical cancer (remember we are a pharmaceutical company ), life skills workshops etc . It is high time that organizations look at Women as an integral component of their overall Talent management strategy and many organizations are already doing that . The enlightening book Winning the War for Talent in Emerging Markets: Why Women Are the Solution by Sylvia Ann Hewlett, Ripa Rashid wonderfully chronicles the journey of women in the BRIC countries and delineates the country specific triumphs and challenges . It is quite amazing to note that different countries with varied social , economic and political context have different challenges and opportunities for the working woman and the maze of tactics , adjustments , negotiations they and their families have to go thru to ensure that the personal and professional goals are achieved . Towards the end they have given multiple examples of women friendly practices and policies adopted by companies across varied industry verticals .In India we venerate woman as the Devi – the supreme multi tasker Goddess and that is the expectation that gets carried forward in this post modern age too . Women in India as the book mentions are expected to take care of their immediate and extended families and put in long hours of work – a typical characteristic of a buoyant economy .