Sources: Peter Saflund, Saflund Institute (Boeing and other workplace studies)Presented in November 2007 at one of Cengage conferences in Las Vegas“How Should Colleges Prepare Students to Succeed in Today’s Global Economy?” Association of American Colleges and Universities, 2006. Research by Petere D. Hart Research Associates, Inc.
Soft skills and communication
Soft Skills : From Classrooms to CareerA Sound BasicsInitiatives
Moments of Truth• There is no point in giving any suggestion to my manager as he always sticks to his own decision.• I feel there is a glass wall between me and my manager.• My colleagues do not cooperate with me• I should stick to my decision, otherwise I may appear weak
Young India Lacks Soft Skill Business Today April 2011• The Young Indian is in danger of becoming a liability.• More than one-third of the millions that graduate each year are unemployable.• A survey of 303 employers across the country by the Federation of Indian Chambers of Commerce and Industry (FICCI)• majority of graduates lacked adequate "soft skills" to be employed in the industry.• Only about one-third employers were satisfied with the communication ability of their employees and about 26 per cent with their employees writing ability.
What Industry Says…Technical skill ALONE does not make someone competitive in the job market
Communication skillsTeam/interpersonal skillsProblem solvingQuantitative reasoningBusiness process knowledgeProject management
What are Soft Skills ?Desirable qualities for certain forms ofemployment that do not depend on acquiredknowledge: they include common sense, theability to deal with people, and a positiveflexible attitude
Personal qualities +Interpersonal Skills =Soft Skills
Taking a Hard Line on Soft SkillsWhy Soft Skills are important for F&A professionals?
There was a recent survey conductedof 500 senior finance executives at companiesacross many different industries. 23% 55% CFOs
Scenario I Little Soft Auditing Impersonal/IndifferentFocuses on the basic audit/accounting work Client is frustrated steps Tactless Asks Basic Questions Does not get cooperation Disinterested/InsensitiveFocuses on reviewing documentation, not on Client is defensive , vanilla auditing people or process
Scenario II Soft Skills Auditing Exhibits InterestEngages in conversation Gets Information Uses Tact Prepares for meeting Reduced follow up Presents with EnthusiasmAsks intelligent questions Gains insight, audit adds value
Soft Skills F&A• Advanced written and oral communication• Detail oriented and meticulous• Common sense• Problem solving• Ability to work in a constantly changing dynamic environment• Quick earner• Deadline driven• Ability to prioritize• Delivery driven• Technology savvy• Ability to analyze data
Soft SkillsWe Know Our Students Need Them, But How Do We Teach Them?
Methodology12 modules of 2hours eachInteractive learningRole playsSimulated exercisesVideosCase discussionsActivitiesMoments of Truth
Challenges … Busy Multi-taskers Attention deficit Get bored quickly Language Attendance Does not see value
Measuring Soft Skills “Hard skills” are technical or administrative procedures related to an organization‟s core business. “Softskills” (also called “people skills”) are typically hard to observe, quantify and measure.
SKILLSCOPE ® Pat Sample for Managers Self 6 Others Development Getting information, Making sense of it; Problem identification Strength Needed IMPORTANCE: Self: 1 Others: 1 Boss: 1. Seeks information energetically. 2. Probes, digs beneath the surface, tests the validity of information. 3. Creates order out of large quantities of information. 4. Keen observer of people, events, things. 5. Defines problems effectively; gets to the heart of a problem. 6. Spots problems, opportunities, threats, trends early. 7. Logical, data-based, rational. Communicating information, ideas IMPORTANCE: Self: Others: 3 Boss: 1 8. Adept at disseminating information to others. 9. Crisp, clear, articulate. 10.Good public speaker; skilled at performing, being 11. Makes his or her point effectively to a resistant audience.SYMBOL KEY = Strength communicator on paper; good writing skills. = Development Needed or = Boss’s Response () = Number of Additional Responses
It „s the hard skills that get you the interviewbut it‟s the soft skills that get you the job
HR OUTSOURCINGWHAT IT CAN DO FOR SMALL AND MEDIUM EMPLOYERS
The Pain PointsThe average owner of a small business spendsbetween 20 percent and 40 percent of his or hertime on human resources, benefits employmentconcerns, and government compliance
Average SalaryHuman Resource Manager:Rs 197,722 to Rs 1,207,546Human Resource Generalist: Rs 99, 939 to Rs 467, 927
HR Tasks Frequency Skills RequiredManpower planning Once a year MBA HRPolicy development Once in 3-5 years MBA HRRecruitment Daily/weekly/monthly SB GraduatePerformance Management Once a year MBA HREmployee Joining and Regularly SB GraduateInductionExit Interviews Regularly/periodically SB Graduate/MBATraining and Development Regularly SB Graduate/MBA(non management)Grievance handling Regularly SB GraduateDisciplinary Action Periodically PersonnelEmployee Relations Periodically SB GraduateStatutory Regularly/Periodically SB GraduatePayroll processing Regularly SB Graduate
Challenges Ahead• A „buy in‟ with companies• Getting dedicated personnel