Wednesday, May 13, 2020

Summary. In This Article, The Most Crucial Part Is Investing

Summary In this article, the most crucial part is investing in reskilling current employees. 65% of the respondents will take on this approach with future workforce strategies. Ryan Frishmann, the author of this article, says that he does somewhat agrees with the statement â€Å"Hire for character, train for skill.† He believes that if you invest in skill and training that character will come out of it because diligence is required when applying these skills. The article mentions two skills that are very important. These are analytical skills and social skills. Analytical skill is the ability to visualize or solve both complex and uncomplicated problems by making decisions that are sensible given the information. Social skill is any skill†¦show more content†¦According to a survey called â€Å"The State of American Jobs†, 54% of workers believe that training/skills development throughout their work will be essential, while 33% says that it is important but not essential. In identifying future candidates, skills should be the focal part of this. The demand for particular occupations or specialties are changing every 5 or 10 years, and this is set to accelerate. Most transferable skills remain constant and are tangible. Skills is the foundation of learning. Many tests have come out in order to test skill competencies. This will help employees identify the best employees for the job. In Bill Taylor’s article Hire for Attitude, Train for Skill, he takes a completely different approach. His approach is that you hire employees with the same personal values as the organization. This what helps to make the organization in sync. They believe that character counts more than credentials. According to the article Should you Hire for Personality or Skill, they believe that you should go through a series of tests to see how well you will fit with the organization. Some of these tests include personality tests, cognitive tests, and skills based tests. They all believed it is based on what type of company you have and the nature of the job. Relevance to the different Industries Different skills are relevant to the different industries because most of them are transferrable. If you lack the direct experience you need, you can still get the jobShow MoreRelatedSuccessful Businesses Derive Their Strength From Skillful Management Strategies And A Positive Financial Position895 Words   |  4 Pagesas a function of how it performs against its own track record over time and within the market in which it operates. Profitable businesses utilize the income statement, balance sheet, owners’ equity calculations, and the statement of cash flows for this purpose. Income Statement The income statement reflects business operations over time. It reports the revenues generated and expenses incurred by a firm over an accounting period (Melicher Norton, 2014). 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