The technical talents that got you your first
promotion may not get you your next. If you want to be a leader, there is an
emotional component you must consider. It is what allows you to effectively
coach teams, handle stress, provide feedback, and work with others.
It's known as emotional intelligence, and it
accounts for roughly 90% of what distinguishes exceptional performers from
colleagues with identical technical skills and knowledge – Lauren L, (2023)
What is emotional intelligence?
Emotional intelligence is defined as the ability to recognize
and influence the emotions of those around you, as well as comprehend and
regulate your own emotions. - Mayer
J, Slovey P, (1990) & Golemanv D.
"The most effective leaders share one critical
characteristic: they all have a high level of emotional intelligence. It's not
that intelligence and technical abilities are unimportant. They are important,
yet they are entry-level criteria for executive roles" - HRD
04 Component of emotional
intelligence
Emotional intelligence is commonly divided into four main
competencies:
1.Self-awareness
2.Self-management
3.Social awareness
4.Relationship management
Benefits of emotional intelligence
1. It allows for better teamwork
Teams
with emotionally intelligent members are great at working together. They have
good communication, trust each other, and value each other’s input. When
someone makes a suggestion, they’re able to respond in a positive and
productive way.
2. You can deal with change
Not
many people like change, but Emotional intelligence gives you the tools you
need to deal with any change that comes your way. In the workplace, many people
often face change with a negative attitude and crossed arms; but an emotionally
intelligent person will be much more positive and can inspire other team
members to feel the same way.
3. You can handle those tough conversations
Whether
it’s an angry customer or an upset employee, difficult conversations can stir
up all sorts of emotions. If you have the right skills, you can handle those
conversations by emotionally connecting with the other person before finding a
resolution.
4. It’s an essential people skill
Emotional
intelligence allows you to quickly build trust with people, as well as rapport. You’ll be able to understand their feelings and empathize with them –
fantastic for any role that involves working in teams!
5. It’s a key feature of a strong leader
Great
leaders understand people; they know how they work, how to influence them, and
how to inspire them. Emotional intelligence will help you to achieve this
understanding in order to be a brilliant leader and guide your team in the
right direction.
References,
·Harvard Business School online, Business insights,
03rd April 2019
How Does Hybrid Work Model Works in Moderns Businesses?
Introduction
Nowadays the majority of organizations are
taking a hybrid approach to the modern workplace continuing to operate after
remaining open throughout the COVID-19 pandemic, and many office jobs
announcing that their temporary remote work arrangements will become permanent.
Furthermore, many local and multinational corporations all
over the world have started thinking about workarounds to begin hybrid work
arrangements for continuity of operation even in the face of instability, among
other advantages. Even though it was only launched temporarily, it has been
used long after the pandemic, and it has become established due to the benefits
it has brought the organization.
What Is a Hybrid Workplace Model?
Employees in a hybrid work style spend part of their time in
the company office and part of their time working elsewhere. Although the
company is remote-first in the sense that most employees do not have to work
from the company office on a daily basis, the hybrid model still allows for work
from home (WFH) or some central corporate office work.
The hybrid model might be of two types:
·When employees are required to be present in the
office is decided by the company. Companies may pre-designate a specific number
of days or days of the week for employees to be in-house to allow for rotating
schedules, department synergy, and office capacity for adhering to social
distancing.
·The employee meets with their management to
discuss their preferences and create a schedule that is mutually agreeable.
Employees can work at the office as frequently or infrequently as they like if
their job function does not require them to be physically there.
This hybrid paradigm will result in the transformation of
business models.
Work From Home (WFH)
WFH indicates that an employee is working from their home, flat, or place of residence rather than the office. Many businesses have a WFH policy, often known as a remote work policy, that allows their employees to work from home either full-time or as needed.
Benefits of Hybrid Working Model
Hybrid Working Model benefits mainly happens 03 areas
1.Employee
2.Employer/Company
3.Society
(01)Benefits to Employee
·Improved Employee Wellbeing
·Effective Increase in Income of Employee
·Increased Mobility
(02)Benefits to Employer/Company
·Reduced real estate costs.
·Improved worker productivity
·Improved retention rates
·Bigger talent pool
·Ability to grow headcount without added space costs.
Importance of Employee Learning & development
(L&D) culture for an organization
Introduction
Employees' Learning and development programs are playing a major role in all organizations. It’s intended to improve their skills and knowledge,
which may have a positive impact on their productivity. - Stone & Deadrick, 2015
These programs come in a variety of formats such,
·Professional development - Majority
of workers have determined their career objectives. To achieve the specified
targets, HRM support is required. People can achieve their professional objectives
by obtaining critical career planning, promotions, and performance reviews.
·Training & Development - Individual
gaps must be considered when doing training and development. HRM can determine
the appropriate training needs of individuals based on the gaps discovered.
·Coaching - Human resource managers have the
luxury of matching potential applicants with experienced personnel to serve as
coaches based on specific development areas. where individuals could extend
their horizons and hasten their development into prospects.
Employee Learning and development (L&D)
Learning and development initiatives
are educational activities within an organization that are designed to improve
the job performance of an individual or group. These programs typically involve
advancing a worker's knowledge and skill sets and instilling greater motivation
to enhance job performance.
"Training is the process of developing, habits,
knowledge, and an employee " - William G. Torpey
As per the Charted Institute of Personal & Development (CIPD),
30 Nov 2022 Employee Learning and development (ELD)is impacting
an organization in many ways,
Needs to increase its business knowledge and commercial awareness.
Grow in the use of technology and online learning within its offering.
Develop analytical skills to effectively use information and metrics.
Balance the tensions in getting the best from traditional
methods whilst pioneering innovations.
Practitioners to have up-to-date knowledge of new insights, theories,
and technologies.
Learning Culture
Team members in organizational learning cultures have the
time and space to constantly expand their knowledge and gain new abilities. The
learning is aimed at boosting employee performance and promoting personal and
professional development. Team members in organizational learning cultures have
the time and space to constantly expand their knowledge and gain new abilities.
The learning is aimed at boosting employee performance and promoting personal
and professional development.
When setting the stage for a culture of learning, Matthew
Smith, Chief Learning Officer at McKinsey & Company says, “It all starts at
the top, as with so many things, with having a CEO or senior leader who values
learning and actively encourages it” -
Reynolds, (2020) describes a learning culture as a ‘growth medium’,
which will ‘encourage employees to commit
to a range of positive discretionary behaviors,
including learning and which has the following
characteristics
Learning and development are
essential components of a company's success. Companies can improve employee
performance, retention, productivity, and customer satisfaction by
understanding the various factors that affect learning and development,
implementing successful education programs based on sound theories, and
addressing critical issues such as diversity and inclusion, and compliance. The
advantages of investing in learning and development programmers far outweigh
the expenditures, making it a wise business option for any firm. Learning and
development are key components for a company's success.
References:
·Stone, D. &
Deadrick, D.,(2015). Challenges and opportunities affecting the future of human
resource management. Human Resource Management Review
Globalization refers to
the acceleration of human movements and exchanges of products and services,
capital, technologies, and cultural practices around the world - Edwards,
(1995)
Examples.
·People
- Talent mobility.
·Goods and Services- Online purchase platforms (Alibaba, Daraz ect).
·Technology-
Online lecturers, social media platforms, ERP systems.
·Culture
- Accept cultural differences (use other countries’ habits, greetings, dresses
ect)
Types
of Globalization
1. Economic
globalization
2. Financial globalization
3. Cultural globalization
4. Political globalization
5. Sociological globalization
6. Technological globalization
7. Geographic globalization
8. Ecological globalization
Multinational Companies (MNCs)
with the
impact of globalization, the majority of companies try to grow and expand their
businesses in the global context. with that it can grow a global customer base
and increase its market share abroad, it may believe that opening offices in
foreign countries is worth the expense and effort.
What is Multinational Company (MNC)
A
multinational corporation/company (MNC) has operations and resources in at
least one country other than its home country. This means, a multinational
corporation typically has offices and/or factories in multiple countries, as
well as a centralized headquarters from which worldwide management is
controlled.
Below mentions world recognized MNCs.
Globalization
entails extending the role of commerce, FDI, and other types of cross-border
interaction in national economies; hence, for most societies, globalization is
one of the factors determining what type of production is created in a given
country. Global entities such as the World Bank and the Organisation for
Economic Cooperation and Development produce reports on the development of the
global multinational network on a regular basis using a comprehensive database
that provides a reliable standard for analyzing current globalization issues. In
order to measure the effects of globalization on growth, it is required to
first examine the Konjunkturforschungsstelle (KOF) Index of Globalisation,
which was developed by the KOF Swiss Economic Institute, ETH Zurich, to assess
current economic conditions,economic
constraints, and data on information flows that is, evaluating globalization's
economic, social, and political dimensions.
Source: Top ten countries on the Konjunkturforschungsstelle
(KOF) globalization index, 2020
Type of Employees in MNCs
1.Parent Country Nationals (PCNs) - Employees from the country where the organization's
headquarters is located.
2. Host country nationals (HCNs) - Employees
from the country in which the subsidiary is based.
3.Third country nationals (TCNs) - Employees who are working in a different country.
Source: International Human Resource Management by Peter. J , Dowling ,Marion
Festing and Allen D. Engle, Sri.
What is International Human Resource Management (IHRM)?
International HRM refers
to all of the HR practices involved in managing a worldwide workforce. Within a
multinational firm, international HR professionals are responsible for the
following:
§Recruitment and talent
management §Repatriation and
emigration §Compensation
§Training and development
To be clear, a
multinational firm (MNC) is one that has a presence in multiple nations. The
business is often managed from the 'parent' or home country in which it is
headquartered, although it operates from a variety of worldwide locations.
Apple, Amazon, and Unilever are well-known multi-national corporations, but
smaller businesses can qualify as MNCs if they have subsidiaries in two or more
countries.
MNCs with globally
dispersed employees require International HRM experts to deal with the unique
requirements and considerations around recruiting, onboarding, and retention.
Why IHRM?
expanding globalization, businesses
and employees move across the globe. HRM blunders have caused major problems in
multinational operations. As a result, understanding HRM from an international
perspective is required.
The Impact of Globalization on IHRM
·Recruitment
and Talent Acquisition - As globalization has increased, businesses can
now hire employees from all over the world. The competition for talent has
intensified, making it increasingly challenging for businesses to attract and
retain elite personnel. To reach a worldwide pool of candidates, HR organizations
must change their recruitment techniques.
·Diversity
and Inclusion - As a result
of globalization, people from all cultures and origins have come together,
resulting in a more diverse and multicultural workforce. HR departments must
develop policies and programmes that encourage diversity and inclusion and
assist workers from diverse backgrounds in working well together.
·Training and
Development - When
dealing with employees from various countries and cultures, HR departments must
provide training and development programmes that are suited to each employee's
specific needs. This
·Compensation
and benefits - Because
employees operate in different parts of the world, HR teams must ensure that
compensation and benefits packages are competitive and match the demands of
employees in various nations.
·regulatory
and Legal challenges - As a
result of globalisation, HR teams must manage complex legal and regulatory
challenges. These include immigration, employment law, and data privacy
concerns.
Advantages and Disadvantages of IHRM
Conclusion
Globalization
has made human resources more complex and difficult, but it has also offered
new opportunities for businesses to attract and retain top people from around
the world. HR departments must be agile, creative, and strategic in their
approach to succeed in this globalized economy.
Also, Globalization
is bringing advantages specially for developing countries since they can approach the international market by using the benefit of Globalization.
References:
KOF Swiss Economic Institute KOF
Globalisation Index. Available online:
