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Articles Power Electronics

Electrical Power Generation Distribution sees Seismic Changes

Electrical power generation and distribution took a big leap in 2007 when the trajectory for electrical use in America peaked and started down a different course, declining for reasons we don’t fully understand yet. No, this wasn’t a one-time drop but a clear shift, moving in a new downward direction that continues to this day. While the seismic forces in electrical power generation are occurring, there should have been celebrations and parades, even dancing in the streets, but no one noticed.

In much the same way animals, not humans, are able to pick up on weak signals for an impending earthquake, our ability to sense an industry’s peak still mystifies us. To make matters even more complicated, it may not be the peak.

Seismic Forces in Electrical Power Generation

 

 

Electrical-Power-Generation-Seismic-ChangesThe future of electricity can best be broken into four fundamental categories – power generation, power distribution, electric storage, and changes in demand.

After looking at some of today’s most important trends, it was easy to uncover a few emerging trends that analysts haven’t been considering.

While some of these may only represent a miniscule probability over the next few years, the interplay between emerging technology and social acceptance, coupled with an exponential growth curve or two inserted into the mix, will make electrical power generation and the energy industry a truly dicey market to predict over the next 2-3 decades.

Our emerging electric car and trucking industries coupled with plummeting battery prices, solar roofs, IoT devices, industrial automation, artificial intelligence, home battery packs, and energy efficient everything are just a few of the interrelated issues that will turn virtually every prediction about our future electrical power generation and distribution needs into a low probability forecast before its even mentioned.

Full article on Seismic Forces Change Electrical Power Generation

 

The electrical power generation industry has already entered a state of disruption, but is ripe for much more. Today’s politics will be a distant memory 2-3 decades from now.  At the same time, wind and solar have proven to be a lower cost form of electric power generation across some parts of  the U.S., even without subsidies. Renewables are already at grid parity and will continue to drop in price.

Electric power will endure to be a battleground industry for decades to come. Our shifting base of technology, startups, lifestyles, culture, and politics will continue to make this a highly unpredictable landscape for the foreseeable future.

Read the full article on seismic forces changes in Power Generation and Power Distribution from the futurist Thomas Frey

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Articles Talent Acquisition - Assessments

New Hire Impacts Team Dynamics and Overall Productivity

Loads of companies and recruiters use some type of screening tests but few look at the all important concept that faster productivity + team dynamics in whether a potential new hire is both a role fit AND a team fit   We know that a new hire impacts team dynamics.  While some have a one-size-fits-all behavioral analysis testing for the candidate only, what are the recruiter or hiring manager comparing the candidate to?

Some measure job skills, others measure interpersonal and communication skills, planning and organizing, and some measure aptitudes, and still others cognitive ability.  There are even some that test applicants on their ability to make presentations or on their behavior pattern in a simulated meeting, however they still fail to consider profiling hiring teams in order to form a target candidate profile as part of measuring team fit to make a new hire impacts team dynamics positively.

 

Productivity in how New Hire Impacts Team Dynamics

 

One way to understand the first part of performance based recruiting is in the discovery step prior to planning a search strategy. Sadly too many internal recruiters and HR managers put too much emphasis on matching potential candidates to a “one-size-fits-all” corporate culture.  They fail to take into account that EACH TEAM is UNIQUE.

Each team has it’s own culture that is not a clone identity to the corporate culture.  If you want to achieve faster productivity, recognize how new hires impact team dynamics in recognizing the positives and negatives.  You must take that individual team culture the new hire will work within as part of your search strategy.  What the executive search consultants at NextGen do is to ask the stakeholders (listed below) to take a brief less than 10 minutes online survey that can be taken 24/7.

  1. his/her direct report/hiring manager
  2. at least 2-3 internal customers
  3. for sales, product management, product marketing, and sales engineering roles, we recommend at least  1-2 key external customers on whom this position will have an impact.

This is where many internal hiring managers miss the boat.  Many in Human Resources and even some executives fear asking external customers (who can be direct customers, partners, or vendors) to participate.  Their immediate thought is to perceive this as negative.  Rather it is completely positive as those external stakeholders value and appreciate you have included them on designing a target candidate profile.  It makes for better customer interaction because you are taking into account how not only how they interface with this role, but also the impact the potential new hire will have on productivity + team dynamics.

Achieving Longer Retention | New Hire Impacts Team Dynamics

 

It is designed to gauge and measure each respondents view of the role and team in terms of values and motivations, relational communications traits, decision making and conflict resolution skills.  These questions in the survey, combined with how each stakeholder views the OBJECTIVES of the role instead of the requirements and responsibilities, is used to create a Composite Team Profile.

New-Hires-Impacts-Team-Dynamics-and-Business-GrowthWith the information gathered the original job spec, the discovery step, and the composite team profile, the recruiter can effectively construct a Search Strategy including a Target Candidate Profile for screening and assessment.

The end goal is to identify, recruit, assess, and determine a shortlist of candidates that are both a role fit and team fit, meaning that they have a high likelihood of achieving the objectives of the role.  In other words, new hire impacts team dynamics becomes a positive impact. NextGen’s award-winning Leadership Vault search process has resulted in 94% of our placements still working for the company we staffed at 3.5 years of employment.

In addition, the most common feedback is that the candidates we presented not only met, but exceeded client expectations.  Combined with an industry leading 24 to 36 months replacement guarantee and performance based recruitment fees, we are often called upon when other search firms have failed to deliver.

 

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Articles Talent Acquisition - Assessments

Improve Talent Acquisition with a Competitive Edge

How do you improve talent acquisition to be more efficient, less costly, and produce results when it comes to executive management and functional leadership roles?  Today companies have a hectic schedule due to keeping up with the competitiveness of the industry. Resources and time becomes constricted and companies do not have the time to implement a thorough recruitment and screening process.

Relying upon job boards, LinkedIn, focusing on branding and “social responsibility” on web site career portals brings in hundreds of applicants, but rarely the right applicants and most of those applicants are “C players”, the 55% of the workforce that  can show up to do a job but don’t add to increasing revenues, lowering cost, or creating new intellectual property.

Many companies employ internal recruiters of contract recruiters, and while they can produce more applicants, the quality of the candidates is at best “okay”.  Contingency search firms are internally measured on the number of sendouts (resumes) emailed each day, the focus in on quantity, not quality. If a company must conduct a phone screen, simply put the recruiter failed to do a good job in screening and assessment.

Companies engage a retained search firm to manage the recruitment process and to get down to a shortlist of highly qualified candidates ready for in-person interviews.  Retained search firms that are niche or boutique working in the company;s industry NEVER look at active job seekers who dominate job board and Linkedin job postings, but instead use their vast internal rolodex, identify and cold call, and reach out to those contacts to being them an opportunity and a challenge.

  • Client-focused in time management – retained search improve talent acquisition as we only work on only a few select searches at a time per executive search consultant. Because the lead recruiter has a team behind him, each task from sourcing to pre-screen to deep interviews is assigned.  Since the focus is on quality, retained executive search consultants are not measured by the contingency search firm focus on sending out x number of resumes daily.
  • Industry Expertise in Your Market – possess a higher level of proficiency when it comes to finding potential candidates for a specific niche industry and market.  These firms specialize in what are the trending news in the market, recruiting, executive changes at your competitors, and news about the current and future strategy of your market and your competitors.

 

Improve-Talent-Acquisition-by-Elevating-your-RecruitmentRather than using a typical job description quoting responsibilities and requirements, the approach is to identify team dynamics and documenting KPIs to ensure potential candidates can meet the objectives of the role.

Instead of focusing on a checklist of x number of years’ experience and skills, retained search focus on what the potential candidate will do with those skills to meet the performance objectives of the role rather than just having x years of experience with that skill.

The costs are much lower in the Long Run –  utilizing the expertise of a good recruitment team shows that retained search lowers the expenses used to screening applicants and potential sourced candidates.

 

Improve Talent Acquisition with Onboarding Tools

 

A custom onboarding tool that works is one that uses a psychometric composite team profile with the corresponding candidate profile and performance objectives of the role.  No lengthy involvement of time and effort by multiple executive staff members.  It is customized and easy to use.  It should include a personal action plan for the new hire that identifies his/her strengths and weaknesses and provides the designated mentor with an effective coaching and evaluation tool.

Retained search improve talent acquisition like NextGen Executive Search as clients has shown that the 72% who use the custom onboarding tool realize quick assimilation into the corporate culture and team dynamics, faster productivity, and longer retention.

Final Thoughts on How to Improve Talent Acquisition

 

 This relieves the company’s HR department of the expenditures that are used in screening processes such as background information, investigating previous employment records, filling up Hiring Managers inboxes with unqualified flypaper (resumes).  Searching for the ideal candidate for the job can take a lot of time and expense if the company does it alone.

Much Higher Retention Rate with Low Turnover – retained search improves talent acquisition with a much higher retention rate for candidates they’ve placed (NextGen Global has a 93% retention rate for placed candidate still working after 3.5 years of being hired and 87% still there at 5 years).

Retained search improve talent acquisition with a competitive edge as the people they place outperform, meet, or exceed your expectations and significantly contribute to the success of the organization.  Hiring the right staff, not just at the senior executive level, can propel the company towards success and development, but hiring the wrong ones stagnates the progress.  Improve Talent Acquisition by Elevating your Recruitment on Improve Talent Acquisition by Elevating your Recruitment to improve talent acquisition.