The business of predicting how, from their personality profile, humans will behave has both fascinated and annoyed managers. Northwestern University published results of research suggesting four personality types. Data from145,000 respondents was analysed using ‘big-data’ computer analysis methods using clustering algorithms. This research is easily misinterpreted and does not offer a robust or useful simplification.
The Web is full of articles about what went wrong with Thomas Cook. It had debt and no cash. Ignoring the fact that Thomas Cook experienced changing markets, just how should managers work to avoid becoming an insolvency casualty? Many firms run with low reserves and high debt. This is a dangerous operating point. Here we discuss options and give examples of business strategy for safer operation.
Pay is a complex business. Pay is not the only reason why folk leave one firm and move to another but often it is high in prominence in the overall decision. This blog sets out the primary criteria in deciding how much to pay an employee for doing a job and then describes a pay model that allows these criteria to be met.
When business goes screwy, as is happening now during the coronavirus pandemic, it’s time for managers to think. To manage the recovery, managers need to develop one or more likely scenarios describing both the future market environment and the firm’s future required capability. Each scenario describes a possible state for which to plan. Here we discuss two methods of strategy-building, Delphi forecasting and rich picture/thematic analysis.
Holiday pay, and holidays in general still cause managers difficulty. It's complex. Managers need to determine what holiday an employee is entitled to accrue. And there's no statutory need to allow further accrual with overtime. Managers must calculate, holiday by holiday, how much employees are to be paid when off. The rate must include commission, overtime and even travel time. TimelessTime has a calculator.
There’s a situation that’s quite unsatisfactory and easily rectified to benefit all parties. It’s that often documents comprising the contract of employment are ‘issued’ by the employer to the employee once the new hire has actually started in the job. It’s lawful but unfair and risky. It also misses a huge opportunity to get relationships off to a flying start. Here’s why.