Do Serial Entrepreneurs Learn From Their Mistakes?
Serial entrepreneurs are people who continually come up with new ideas and start businesses. These people tend to be highly successful when embarking on new projects because they can draw from their prior experience to make informed business decisions. In this study, researchers examine how serial entrepreneurs respond to failure: Are serial entrepreneurs more likely than amateurs to change industries from one venture to the next? Further, how does changing industries after a failed venture affect how well serial entrepreneurs perform in their next venture?
Fashion Forward Talent Management
How do luxury brands excel at talent management? If you’re anything like me, the words “luxury” and “brands” likely conjure up images of couture clothing. Maybe you think of models, or stiletto heels? A Harvard Business Review article by Shipilov and Godart (2015) outlines how the world’s most influential luxury groups have more than just an eye for design; they also have an eye for talent.
The Future of Human Resources: Create Value
To understand the future of human resources, one must first know its past. HR emerged during the industrial revolution when there was a need to manage employees and overcome organizational challenges such as high turnover and low productivity. As a result of these human capital issues, scientific management began as a way to address organizational inefficiencies and it introduced job analysis to management practices.
The Role of HR as a Strategic Partner: Forming the G3
What is the role of HR in the modern workplace? The world of work has changed a great deal over the last few decades, but there is one truth that continues to stand the test of time; people are a firm’s greatest asset. Human capital, or the knowledge and collective intelligence inherent in a company’s workforce, can be a businesses’ strongest competitive advantage, and also its greatest source of risk. It is incumbent upon CEOs and CHROs, or Chief Human Resources Officers, to work together to manage their firm’s people assets, and to unlock the potential in every employee. The authors of the current article suggest that organizational decision making can be enhanced through open dialogue and discussion among the “G3” or the CEO, the CFO, and the CHRO.
Leveraging Human Capital: Are Your Employees Getting Enough Sleep?
Human capital refers to specific employee characteristics that can make a business successful. Traditionally, industrial-organizational psychologists have used the acronym “KSAO”, which stands for knowledge, skills, abilities, and other characteristics, to classify an employee’s work-related capabilities. When these KSAOs are useful for an organization’s overall economic outcomes, they are considered human capital.
The Future of HR: Bringing Human Resources into the 21st Century
What is the future of HR? A new article in Harvard Business Review (Cappelli, 2015) discusses some of the ways that HR can shed its bad reputation and prove itself a strategic business partner:
It’s no wonder that human resources functions have developed bad reputations in many organizations. It falls to HR to make sure employees complete their new hire paperwork, to penalize individuals who do not attend required training, and to remind employees to elect their health benefits for the coming year. Furthermore, human resources professionals who offer anecdotal evidence rather than solid business metrics to back their visions, may reduce HR professionals’ credibility as masters of personnel management and change leaders. However, many HR departments have recently made great strides in quantifying the value of people processes and in using people metrics to support their cases for HR programs.
Effective Negotiation: When Does Expressing Sadness Work?
People are always claiming to know what factors contribute to effective negotiation, but a new study shows that expressing sadness can work in certain situations. The authors begin with a really interesting anecdote to illustrate:
Recruitment Tips: Highlight Person-Organization Fit
One way organizations can make recruitment more successful is by stressing person-organization fit. Person-organization fit is a term that I-O psychologists use to describe how compatible employees are with the organizations that employ them. If an organization and a specific employee share values or ideas of how work ought to be done, or if they fulfill each other’s work-related needs, then we might say that there is a high degree of person-organization fit. It’s easy to imagine some of the ways that this would be beneficial to the organization, and past research has indeed supported this idea. New research (Swider, Zimmerman, & Barrick, 2015) took a novel approach by measuring how the perception of person-organization fit fluctuates over time, specifically during the recruitment process.
How Corporate Social Performance Attracts Job Seekers
In recent years the topic of Corporate Social Performance (CSP) has become increasingly of interest to major corporations.
It’s becoming more important for organizations to have a social presence, display their dedication to the community and adopt positive practices that go beyond the company’s bottom line. Some may wonder just how important corporate social performance actually is to a company’s stakeholders.
Outsiders are Better Negotiators than Insiders
In a series of four studies, Van Kleef, Steinel, and Homan show that status in a group, either as an insider (i.e., a group member) or as an outsider (i.e., not a group member) is related to the ability to negotiate. For example, if you are a woman in a group of four men, you are considered on some level you are an outsider; you are different in some aspect from the majority of the group. This status as an outsider relates to your ability to perform skills that are important in a negotiation process. Outsiders experience heightened sensitivity to social cues, increased motivation to process incoming information, improved recall of information acquired, and an ability to achieve win-win solutions. So, if you an in a situation in which you are outnumbered four to one, you can take solace in the fact that being on the outside makes you a better negotiator.