Social Skills: Valued Over Technical Ability?

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As technology and automation replace workers, new jobs are created in order to support the machines and adapt to the shift in the economy. But as robots begin to perform surgeries, do your accounting, and manufacture your goods, there will be a shift in skills demanded of workers. Here are a few key changes that can be expected in the coming years:

  • Education: While social skills are not emphasized in today’s curriculum, emphasizing team work can help improve the social skills necessary to survive in today’s job economy.
  • The Current State of Jobs: “Despite the emphasis on teaching computer science, learning math and science is not enough. Jobs that involve those skills but not social skills, like those held by bookkeepers, bank tellers and certain types of engineers, have performed worst in employment growth in recent years for all but the highest-paying jobs.”
  • Women Thriving in the Workplace: “Women seem to have taken particular advantage of the demand for social skills. The decline in routine jobs has hit women harder than men. Yet women have more successfully transitioned into collaborative jobs like managers, doctors and professors.”

At your own workplace, ensure that cooperation and teamwork is emphasized and nurtured. Though your job isn’t likely to be immediately threatened by incoming technology in the immediate future, it may be important to have a backup plan in case it is. This excerpt from the article best summarizes what jobs are under pressure, and which will come to thrive in the coming years: “Jobs that require both socializing and thinking, especially mathematically, have fared best in employment and pay, Mr. Deming found. They include those held by doctors and engineers. The jobs that require social skills but not math skills have also grown; lawyers and child-care workers are an example. The jobs that have been rapidly disappearing are those that require neither social nor math skills, like manual labor.”

Click here to read the full article in The New York Times.

Sales Meets Big Data

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New software tools are taking sales into the 21st century by bringing big data into the picture. By analyzing things like the opening of emails and success rates of phone calls, these big data startups can identify the best time of day to reach a CEO or when it’s best to reply to an email. Here are a few of the tools that are available through these startups:

  • Salesforce IQ: Salesforce’s latest software is an aid to sales people, as “it proffers tips on how to interact with specific customers and nudges salespeople when, for example, they haven’t spoken lately to a client they tend to contact regularly.”
  • ClearSlide: This software “alerts salespeople when a potential client reads a pitch email, so they can follow up just when the prospect may be most receptive. It also tells them whether a prospect lingered on the message once they’ve opened it…”
  • The Full Picture: Many departments are already employing plenty of software, sometimes “more than a dozen digital aids. One analyzes records of millions of transactions stored in sales databases to serve up lists of potential customers, ranking them in order of their likelihood to buy. If a prospect doesn’t pick up, another program, at the click of a mouse, leaves a voice-mail message from a prerecorded template. When a salesperson closes a deal, a third program triggers a morale-boosting gong sound.

Salespeople need to step up their game as business are increasingly looking to take out the middle man in transactions. Many positions will be vanishing within the next five years, and as such salespeople need to increase their efficiency by using software aids to keep a leg up on the competition. Ensure your sales team is doing its best by looking into the options above and seeing what works best for your company.

Read the full article in the Wall Street Journal here.

How Amazon Stays Ahead of the Game

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Amazon is no stranger to staying ahead in the tech industry, and its web services sector is no different. Amazon Web Services, or AWS, leads the online computing industry offering services at prices that no competitor will be willing to match. How did AWS manage to gain such a competitive advantage whilst keeping long-term sustainability a goal? Here are a few key points in their strategy that have helped them be successful:

  • Be an Opinion Leader: “The idea seems to be to dominate not so much by the traditional “vendor lock-in” of hooking customers on proprietary technology, but by making itself the center of the styles and habits of cloud computing.”
  • Look to the Long Term: Mr. Jassy, head of AWS, said “We’re extremely long-term oriented,” he added. “We’re trying to build a relationship with our customers that will outlast all of us in this room.”
  • Know Your Strengths: Amazon has developed some of its competitive edge by buying technology from smaller firms and applying it to their giant infrastructure.

Knowing which fields your business can improve in will help it develop core competencies that will give your company a competitive edge. AWS has understood this, and with it has built a service with which no competitor can compete. Its intelligent business tactics lend AWS access to the latest technology before it becomes available to their competitors, and securing their position at the top. Applying these tactics to your own company will help you stay ahead of your competition, and stay there.

Read the full article in the New York Times here.

Over-Demanding Employers Spurring “Gig Economy”

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Corporate life in New York City is infamous for being grueling, demanding, fast paced, and intense. Still, the bustle of the city that never sleeps attracts the brightest minds. Yet despite the recent upturn in the economy, workers are unhappier than ever with the increasing demand that seems to have gotten out of hand as of late. People are working more hours for less money, and frustrated with the results. Additionally, the cost of living in New York has rapidly outgrown average salary growth. Here are a few key ways that employees are adapting to what is increasingly shifting towards what experts are calling “the gig economy:”

  • Freelancing Becomes Norm: With employees feeling like they’re working around the clock anyways, many are figuring: why not work for myself? Many employees are supplementing their income (or replacing it entirely) with freelance work where they often make more money than they otherwise would have.
  • Layoffs Burdening Star Employees: Managers seeing big returns from layoffs of low performing employees are continuing to do so at the expense of over-burdened high efficiency employees, resulting in only 19% of employees in industries like the tech industry being “very happy” with their job.
  • Growth is Misleading: Most of the job growth has been in the healthcare, fast food and retail industries where salaries average below $25,000 a year.

So what does this trend mean for your business? Expect your competition to be not only rival agencies and businesses, but you must also be weary of freelancers who are looking to take your clients and can do so at a lower price. Graphic design and PR will get cheaper as supply becomes more accessible as freelancers flood the market, while those still at agencies will likely feel a similar strain. However, top talent will still be attracted to top firms, and the compensation and perks will be there to compensate them for premium work.

Read the full article in Crain’s New York Business