The fourth industrial revolution is here….Are we ready?

The fourth industrial revolution is here….Are we ready? 

The 16 of June 2018 was the day that we commemorated the 42^nd anniversary of the Soweto uprising, where the class of 1976 took to the streets and fought an unjust education system. We cannot look away from the challenges faced by the youth of today. Unemployment is among the major challenges faced by the youth of this country. According to statistics released by Statistic South Africa, 38.2% of those aged between 15-34 are without job, which effectively means that one in every three young persons is without a job in the first quarter of 2018.

Studies show that migrating to the fourth industrial revolution will amplify the unemployment challenge. According to a report titled Job loss by the World Economic Forum (WEF) there will be 7.1 million job losses between 2015 and 2020 in 15 countries and South Africa is among those countries. The report further states that 60% of those jobs losses are in administration.

The forth industrial revolution will be characterised by technology, therefore how we position ourselves as a country in response to this revolution is crucial. We need to identify skill sets that will be relevant in response to the fourth industrial revolution and those skills range from Computer Science, Data Science, Software Programming, Cybersecurity, Artificial Intelligence, Machine Learning, Industrial Robotics and Automation, Data Analytics and Business Intelligence.

Skills development remains a centre stage for the country’s successfully migration to the fourth industrial revolution and in creating sustainable job opportunities for the youth.

The forth industrial revolution is upon us and unless we realign our education system to match the pace of evolution we run a danger of creating a generation with no ability to prosper in a new business world.

How to keep valued employees

We previously covered a topic on the reasons why good employees leave, but how do you ensure they’re happy to stay with you? According to a research from the 2018 Global Recruiting Trends about 33% of new employees quit their new job in six months, while another 33% of employees also knew whether they would stay with their company long-term after their first week. It is also said that 35% of employees will start looking for a job if they do not receive a pay raise in the next 12 months. These statistics are concerning, more so because staff turnover has a huge impact on company’s productivity, negatively affect employee morale and increase costs.

Employers need to find innovative ways to keep valuable employees. Here are the strategies for retaining valuable employees.

Promote from within

Elevating employees from within your ranks shows that you value their work and you are committed to their future at the company. If all you do is, recruit from outside because your current employees aren’t quite ready for the role, it is always best to communicate the reasons. This kind of transparency is essential, or you’re going to give them the impression that they need to leave the company if they ever want to progress in their careers.

Investing in training

Learning and development is the number one choice for many companies when it comes to retention strategies. Any opportunity to learn a new skill and to grow, both personally and professionally, is enough to drive up employees’ levels of job satisfaction and engagement. This intervention need not be expensive, it can be as simple as on the job training, mentoring and free online training.

Employee recognition

A pat on the back, for a job well done, works wonders!

We all like to be recognised for our contribution, but all too often organisations fail to take time to acknowledge the employees’ contribution. Recognition programs don’t need to be complex, a simple thank you, a day off, meal vouchers and a framed certificate of appreciation does the trick.

Recognition reinforces the behaviours and provides motivation for employees to excel.

Share the vision

When employees don’t know the vision of the company, all their efforts focus solely on personal fulfillment, i.e. the achievement of their own ideals; working towards their own benefit and living day to day, probably because their efforts are rooted only in economic rewards and not as part of the benefit that the company can get.

Sharing your company’s overall vision and objectives give the opportunity for them to align themselves with the company’s vision and to see exactly where they fit in.

Shares in the business's financial success

Since top-performing employees contribute to the business's overall success, it probably makes sense for employees to share in the financial rewards as well?

There is a range of reward mechanism that the employer can consider i.e. annual increases, 13th cheque or gain sharing and commission. This approach can encourage employee commitment to your revenue and profit objectives, as well as a financial incentive to "stick around" as the business grows.

No company likes to see their valuable employees leave for another company, in many cases this is preventable, and therefore companies have the responsibility to do what it takes to keep your top people engaged in your company’s mission.

How to set SMART Goals to achieve your New Year's Resolutions

Have you made your New Year’s Resolutions yet? I have been asked this question one too many times in the past few weeks.

Every year millions of people around the world make New Year’s Resolutions, we resolve to accomplish personal goals, change undesired behaviour or even improve our lives one way of the other. A study from the University of Scranton conducted research on 200 people who made New Year’s resolutions, it revealed that people who made resolutions were 10 times more likely to make a positive change after six months compared to people who wanted to change but did not make a New Year’s resolution. So how do you set SMART new years’ resolutions? Here is how.

1.    Get specific

Your resolution should be absolutely clear. A good goal is a specific goal. It tells you not only what you eventually hope to accomplish, but also the steps you must take to get there. Instead of simply resolving to “get out of debt,” a specific goal specifies the type and amount of debt, as well steps that can take to achieve that goal e.g. “I want to reduce my credit card debt by R 4000.00 by 14 April 2018, and will do so by increasing minimum payments each month.”

2.   Track Your Progress

The next step is to define how you will measure your progress in reaching your goals, make sure that the measure of your progress is quantifiable.  If you plan to lose weight, know exactly how many kilograms you will lose, and exactly how you will measure your progress. If you don’t measure your progress toward your goal, it will be impossible for you to figure out if you’re on track, therefore be sure to include exactly how you will measure your progress, as well as how often you will measure. 

3.   Make small, attainable goals

You can set ambitious goals, but make sure that you break down the goals into attainable steps.  if your goal is to exercise more, don’t promise to hit the gym seven days a week. Instead, start small, twice a week and after a couple months re-evaluate if you want to step things up a notch.

4.   Be Realistic

We’ve all been told that we should set goals, and we assume that we can – but most of us have never been taught how to set goals effectively so they are realistic and achievable. If your goal is unrealistic, or not well defined, then you’re setting yourself up for a failure.

5.   Plan a time-frame

Time creates urgency, your goals should be time-based because, without a deadline, you can easily procrastinate and delay your progress toward attaining your goal. Time frames are your barometer for success, the way you assess your short-term progress towards the ultimate long-term goal.

It is easy to become a dreamer or an idealist when it comes to New Year’s resolutions, but always remember that your New Year’s resolutions are a tool to help you grow into a person you want to be, therefore creating New Year’s resolutions that are Specific, Measurable, Attainable, Realistic, and Time-based is one of the most powerful strategies. Much as it is a tedious process...it is a necessary process.

Good luck and all the best in 2018!