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Get a plan to increase your confidence

Mon, 2014-04-21 12:59

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Cross Posted from my Personal Blog

I managed to get through high school and college never taking a second language, even in the ’80s this required advanced maneuvers through the academic handbook.  Why would I do this?  Was I against taking a language?

Nope.  I desperately wanted to take a language, but I lacked confidence.

The only language offered in my high school was Spanish, and I wanted to take French or Japanese (it was the ’80s).

Later, when I went off to college, my 17 year old scholarship self, decided I would be unable to keep my required GPA taking a language, given I was already four years behind.

Recursive logic indeed, especially when you factor in the fact that I had an above average memory and a crazy serious work ethic [seriously,  I was so much older then...].  Looking back on this with the benefit of hindsight, I can say confidently, that the odds of me not being able to handle the rigor of a 101 language course was exactly 0.

So when I read that women have a confidence gap, looking for perfection in themselves before putting their hands up for consideration for professional opportunity, I recognize we need to take this seriously.  Especially when we look at the incredibly slow pace of progress for women in senior leadership in the west (in retrospect maybe I was onto something by not taking Japanese).

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So what to do?

I think it comes down to recognizing the need to have a strategy for being confident.  Being angry at men for being better at this than women, completely misses the point.

Confidence is a critical skill for professional success.  Odds are you could be better.

Work on it.

Some useful suggestions

  1. Get your body and your mind helping you by improving your inner monologue and Power Posing
  2. Get someone with perspective to help you compare your qualifications more objectively
  3. Do a better job recognizing that the fact that you are skeptical of your own qualification, is a sign of your competence

Don’t let a lack of confidence get in the way of your success, practice more, work harder, figure it out.

You can do this!

 

 

 

 


Datafication of Compensation Distribution

Sun, 2014-02-23 12:04

Is your data science providing you enough indications that challenge your existing compensation strategy?  Does it reveal that the art of compensation distribution performed by your managers is not in accordance with your compensation strategy? Old habits die-hard, so you need to make sure that your plan for data-driven decision-making is not getting overridden by compensation managers’ belief system and they are not ignoring data science recommendations.

DataficationofCompensationDistributionEffectively distributing compensation using limited budget in your disposal is always challenging. Your strategy can be to give performers much higher increases than rest of the people as it may still result in improved engagement and retention as concluded by some research results.

Your compensation system should empower you with actionable insights by providing sharper data analysis on some of the critical decision points like performance, potential, risk and social score of your employees. Performance analysis primarily depends on internal data, potential and risk analysis depend on internal as well as external data and social analysis (how person is perceived or represents company outside workplace) mainly depends on external data. While internal data remains structured, external data (e.g. tweets, social media, blogs etc) combines both unstructured and semi-structured data. Your data scientists need to extract insights and value by combining these internal and external data sources to generate a real value for your business and to datafy your compensation process.

By unlocking the true value of your data, effective data analysis provides you unambiguous decision points. As a result, you may even automate compensation distribution process in cases where you are not looking for any diversion from your planned strategy and where there is no scope for your compensation managers to add value in the process.

In a nutshell, you have to leverage your employee data, available inside and outside your organization’s firewall, to enhance data-fueled decision making as it will surely result in improved business performance and will also help you to attract and retain best talent.


Tagged: compensation strategy, compensation system, data analysis