Management Skills that Drive Profitability

Management Skills that Drive ProfitabilityManagement Skills that Drive ProfitabilityManagement Skills that Drive Profitability Matuson The difference between a highly profitable geschftlicher umgang and one that is barely getting by is often the managerial skills of the companys leaders.Great managersare able to dramatically boost the performance of their team members, which in turn adds considerable dollars to the bottom line - while those who are lacking the necessary people management skills can be personally responsible for high levels of costly employee turnover.Here are some key managerial skills to look for when posting your next manager job description that will help maximize productivity.Employee selection and retention The ability to select top talent that will stick around is a skill that is vital to the success of any manager. After all, your company is only as good as the talent you keep.Look at a candidates history for hiring people who have remained with him or herbei for a long period of time. In the interview process, ask them to describe specifically what theyve done to attract and keep the best.Communication skills - By definition, a managers jobis to oversee the work of others. In order to do so successfully, leaders must possess strong communication skills.This includesThe ability to verbalize what is expectedProvide feedback on issues related to performanceKeep their own manager informed of their teams progress.The ability to effectively communicate as a managerin writing is also necessary, as managers are often required to correspond with customers, employees and company executives.Multi-tasking The days of being responsible for only one task or function ended the moment that the recession arrived.Managers today are overseeing multiple company functions and in many cases, employees who reside in more than one location.The fruchtwein successful managers are those who can handle multiple priorities and can shift from one project to anothe r seamlessly. Before you place someone into a management role, be sure they are up to the task of prioritizing whatever comes their way.Problem solving The ability to problem solve is a critical managerial skill for those in management. Companies count on their front-line managers to figure out how to correct situations that fall under the managers lines of responsibility. The ability to quickly assess and rectify situations and to involve ones employees in the process is vital.When interviewing, ask applicants to describe a time when they had a tough problem that needed immediate resolution. Follow up by asking the candidate to walk you through the process they used to resolve the issue.Competencies that you dont have in-house Patricia Hunt Sinacole, president of Hopkinton, Mass-based First Beacon Group LLC cautions geschftsleben owners against hiring a mirror image of themselves.Ive seen business owners who are fascinated when a candidate answers a question the same way that they would or perhaps attended the same college as they did, notes Sinacole. In fact, sometimes this is a detriment because the business owner is hiring overlapping competencies. When hiring managers, look for those who can fill the gaps that exist in your organization.Mentoring Small business owners usually dont have the same budgets for salaries as larger organizations. As a result of this, they often hire less- experienced personnel. This hiring sttarifgy can work if you hire managers who are experienced at mentoring those with potential.Planning and organization One of the top manager skills that small business owners seek when hiring managers is the ability to plan and organize the daily workload. Having someone in place that can oversee the implementation of daily tasks is critical for business success.Managers who are effective at planning and organizing provide business owners the time necessary to work on their business, rather than in their business.Delegation Nothing is more f rustrating to an employee than working for a boss who is unable to delegate. We often call these types of managers micro managers.Micromanagement is about mistrust. In other words, the person who refuses to let go of the task does so because he or she does not believe that anyone else can do the work as well as they can.When looking at people management skills of candidates, be sure they are comfortable assigning tasks to others and then getting out of the way.When reference checking, make it a point to speak with former employees and ask them to describe their take on this persons managerial skills. If you need to be more direct, then do so. Ask them to rate on a scale of 1-10, with 10 being high, the candidates ability to delegate. Anything less than a 10 should be discussed further.Pull this list out and review the next time you are seeking to hire a manager who can help drive profitability.

Be a Curious Job Seeker to Land Your Next Gig

Be a Curious Job Seeker to Land Your Next GigBe a Curious Job Seeker to Land Your Next GigThe adage curiosity killed the cat might have some truth to it, but without curiosity humans will fail to evolve and improve their knowledge and intelligence levels. This also applies to job seeking. By being a curious job seeker and having a curiosity for learning, you are able to improve your chances of finding your next gig or full-time role. But, what if you feel you lack the curiosity personality trait? Through practice and awareness, you are able to develop your curiosity. Check out below how being a curious job seeker can help you find and land a job.Here are five tips to become a mora curious job seeker and successful professionalLooking for a job? Browse flexible jobs in over 50 categories here1. Ask questions.Showing you are curious is a great asset to employers, and by asking questions, you can show them that you are curious about learning. However, when asking questions, make sure th e questions are relevant to the company or situation, and ensure the answers to your questions are not readily available on the companys website or social media pages.2. Stay current with industry news.Job seekers who want to stay ahead of the competition and make better impressions will be up to date with industry news, as well as the news in general. Being informed about industry happenings can help with targeting companies that are expanding. Additionally, being informed on global happenings creates the opportunity for more conversation with potential network connections.3. Challenge yourself.To grow and be curious about your potential, you must challenge yourself to explore the different areas where you have strengths and weaknesses. When you challenge yourself, you are able to look at the different areas of your career and personality to see where you can improve. This curiosity will help you to grow as a professional as you gain more experience, skills, and knowledge.4. Open y our mind to other possibilities.When you have been following the same processes and schedules for months at a time, it is easy to fall into a rut where you simply dont see the other opportunities that are available to you. Become curious about what else is out there, such as searching for nationwide or global job opportunities, connecting with people in other industries, and seeking flexible work arrangements.5. Develop new skills.Showing initiative and developing new skills shows employers that you are curious about your potential and that you are willing to put in the work to grow. Not only does skill development show curiosity and initiative, but it also shows dedication and a desire to learn.Without curiosity, job seeking can be mundane and unsuccessful. Push yourself out of your comfort zone and start asking important questions. By developing your curiosity, you will improve your knowledge, abilities, and professional opportunities.Readers, are you a curious job seeker interest ed in exploring and learning? What about being a curious job seeker has helped you be successful? Share with us below

Cost-of-Living Adjustment (COLA)

Cost-of-Living Adjustment (COLA)Cost-of-Living Adjustment (COLA)A cost-of-living adjustment (COLA) is an increase in salary or annuity usually based on an objective measure that estimates how much additional money a typical person or household needs to maintain their standard of living. Inflation acts against the buying power of every dollar. The prices for goods and services increase over time, so a stable income devalues over time. A COLA works against inflation to maintain the salary or annuitys buying power. Not Merit-Based Raises They are almost always applied across an organization or population of annuitants. Notable exceptions would be companies with workers spread across the US or the world. In those cases, a company would consider COLAs that vary by geographic region. They that are leid based on an objective measure are doomed either to be inadequate to maintain buying power or to be unnecessarily high therefore, it would be somewhat of a misnomer to call those raises C OLAs. The most common objective measure used to determine the amount of a COLA is the consumer price index for urban wage earners and clerical workers (CPI-W). The US Social Security Administration is required by law to use the CPI-W to calculate their annual COLAs to their annuitants. The CPI-W is calculated by the US Bureau of Labor Statistics. US Government COLAs COLAs for federal workers must be authorized by law. COLAs for civilian employees and military employees are considered separately by Congress. When one of these two groups receives a COLA, the other group immediately begins lobbying Congress to provide the same COLA for them. At times the COLAs are not the same for both groups, and this can lead to widespread employee dissatisfaction. COLAs may also be given to federal retirees under the Federal Employees Retirement System or Civil Service Retirement System. Private Sector Businesses in the US are not required to provide their workers with COLAs however, many do . Employment market forces work quickly against employers who do not maintain their employees salaries. Sometimes union contracts have cost of living adjustments built into them. Union leaders push for absolute numbers in negotiations, so they have guaranteed wage increases. While management has an incentive to know precisely how much money will be paid in wages each year, a COLA based on objective criteria ensures that management will not overpay for automatic wage increases.