Hi Friends,

Even as I launch this today ( my 80th Birthday ), I realize that there is yet so much to say and do.

There is just no time to look back, no time to wonder,"Will anyone read these pages?"

With regards,
Hemen Parekh
27 June 2013

Sunday, 6 November 2016

The nth Richest Man

The   nth   Richest   Man

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On 04 Nov 2016 , LinkedIn came out with a feature to enable Jobseekers to reveal their Pay Potential


We  had introduced a similar feature in www.IndiaRecruiter.net , some 10 years ago , based on my following note 

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Note dated  17  April 2006


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Rahul / Saurabh / Pranav / Vikram / Rajeev :


What beauty is to women , salary ( wealth ) is to men

A person is neither beautiful nor rich , in absolute terms . It is always " relative to " some other person or a group of persons

But , mankind has an obsession with such relative comparisons . It is in human nature to compare oneself with others - especially comparing oneself with " comparable / similar " others ( not just anybody )

This obsession manifests itself in ,


#  Beauty Contests for women ,

eg:  Miss India  /  Miss  World  /  Miss Universe ...etc

This , despite the fact that there are no " Objective  /  Quantitative   /  Scientific  " measures ( units of measurement ) for " Beauty "

A woman may appear " Extraordinarily Beautiful " to one man and just " Ordinary " to another !

As they say :

" Beauty is in the eyes of the beholder "

Despite such enormous " Subjectivity " , millions allow themselves to get swayed by the  " announcements / proclamations " of a few well-known / eminent " CRITICS / JUDGES " !


#  " Rich Man / Wealthy Man " ranking for Men

These " Rankings " are somewhat more " Objective " - based on measurable criteria

Of course , there are no " contests _ - at least , visible contests

But you bet that Azim Premji / Narayan Murthy / Anil Ambani etc , are all anxiously scanning newspapers / magazines every morning to see if Business Week / Financial Express etc , have just published their ( respective ) lists of ,
INDIA's  RICHEST  MEN

It is quite likely that BW & FE may be using somewhat slightly different criteria - but that difference is irrelevant

What is relevant is that both use " Objective / Measurable , and often even Transparent " criteria

And what is more , they use the SAME criteria consistently , year after year . So , even if Azim Premji may disagree with Business Week's " definition of Wealth " , he knows that ,

*  Same definition is applied to all others

*  Same definition will be used NEXT year


What then matters is the ,

RELATIVE  RANK

Is he moving UP or DOWN ?

By how much ?

Who is overtaking him ?.....etc

Not one industrialist / businessman has ever challenged these " ranking " ! - even if he believes that the " method " is somewhat defective , from his point of view

Why ?

All those being " ranked " , trust the

*   Objectivity

*   Fairness

*   Consistency

*   Transparency ,


of the method .


And it is precisely because of absolute " Lack of Bias " on the part of the Ranking Organization / Institution / Agency , that the organization has great CREDIBILITY

And that organization's CREDIBILITY goes up when it compares " Like / Similar " people , all of whom have similar " handicaps " , eg :

*  Richest  Man  of India

*  Richest  Man  of  Asia.....etc


Even Companies get ranked / rated ( eg : CRISIL rating ) and even Countries get rated / ranked ( eg: S&P / MOODY etc )

What has all of these " relevance " to IndiaRecruiter / GlobalRecruiter ?  

Quite a lot

GR / IR must become such a RATING / RANKING agency when it comes to jobseekers


We are about to make a beginning in this direction by incorporating into our ImageBuilder ,

FUNCTION   PROFILES { I am tempted to call it , " Functional Competence Profile " }

This concept itself is very NEW / ARGUABLE / CONTROVERSIAL


On top of that , our methodology ( of assigning RAW SCORES ), is not transparent , although it is quite " Objective "

Hence , there is bound to be a lot of discomfort / reluctance on the part of , both , the jobseekers and the HR managers , to " ACCEPT " our rating / ranking - if only for the reason that they do NOT understand , how you are arriving at those Scores / Percentiles !


This ( resistance to acceptance ) will be especially true amongst those jobseekers who end up scoring low !

They will blame the method !

Of course , we cannot help

We only hope that , since HR managers will find these " ratings / rankings " reasonably reflecting their own assessment of the candidates , they will bring pressure on the candidates to stop sending plain text resumes and send only the  IMAGE-BUILDERS


Next , we want to get onto .... SALARY  RANKING  ( really speaking , SALARY  COMPARISON


And , in IndiaRecruiter , we are capturing ALL the required data for each Jobseeker , such as ,

*   "  Function "  ( FIRST priority )

*   "  Designation Level "

*   Annual Salary ( in current job ) ... in EXPERIENCE block

With these data , we need only 2 / 3 simple steps to draw a graph as shown in Annex A

And since , the data has been supplied by the candidate himself, he cannot " DISOWN " it !

Again , X - Y axis are easily understandable . You cannot find fault !

In Annex A , tabulation at the TOP , contains figures ( numbers ) representing the no of " Registered " executives belonging to that CELL

Now , all CELLS will contain different numbers - which keep changing EVERY MINUTE , as more and more jobseekers register

I feel , if any CELL contains a number smaller than 100 , we do not draw any graph for that CELL

We start plotting only when a no in any cell , exceeds 100

Again , in the graph itself , let us not display the " Population = 138 " data

Let us start displaying this , only when the no ( in the cell ) , reaches a respectable 1,000


At this stage , you may wonder :

*   In " Function Competence Profile " , the  X  axis is PERCENTILE

whereas ,

*   In " Salary Profile " , I am showing Actual Annual Salary ( class intervals of 0-1 / 1.01 - 2 / 2.01 - 3 / etc ) on X axis


Why ? Because ,

#  Of course , it is easy to understand an ACTUAL NUMBER ( Rs Lakhs ) , as compared to a CONCEPTUAL NUMBER ( ie : a PERCENTILE )

" Relative Standing " gets established much more easily in mind of jobseeker as well as HR manager


#  While selecting / appointing a candidate , a HR manager has limitations / constraints , in the best / max salary that he can offer to any given candidate ( no matter , how brilliant he is - say , with a percentile of 95 % )


The actual salary of the candidate , super-imposed on the " Salary Profile Graph " , helps HR manager to conclude the best salary that he should offer , with full knowledge as to , what is the " market value " of such a person !


What kind of salaries are " SIMILAR  PROFESSIONALS " drawing ? - quite possibly , even in competing companies


If , by looking at this graph , if HR manager discovers that , what he is prepared to offer - by way of salary - is absolutely ROCK BOTTOM by Industry standard , then he knows that he just cannot attract candidates - even those with percentile of 30 % - the DUDS !


Most HR managers know that they have to offer 25 % - 35 % more than what a candidate is already getting in his current company - before he will consider making a change


With such a " Salary Profile Graph " , a HR manager would be able to make a " Rational / Reasonable " offer to a candidate , which :

*   he is convinced is FAIR , by Industry standard

*   he believes , will attract a candidate

*   he knows will not upset his own existing , similar employees

*   he can defend with his bosses

*   will not " Skew " the Industry Norm , and lead to unhealthy competition for talent ( especially scarce talent ) ,
     among competing companies


I strongly feel that such " Salary Profile Graph " will be greatly appreciated by HR managers


For the first time , instead of relying on " Hunch / Gut feeling " , they have " Statistical Analytics " to arrive at a RATIONAL decision


This graph will be such a powerful  " DECISION  MAKING   TOOL  " , that I believe , HR managers will refuse to look at any other type of resume , from any candidate !


They will insist on ImageBuilder only !


We can expect ImageBuilder to become INDUSTRY  STANDARD , only if and when , we can get all HR managers to bring pressure on jobseekers


We must make , every HR manager , our ( ImageBuilder's ) ,


BRAND  AMBASSADOR  ( - of course , for free ! )


As soon as we have launched IndiaRecruiter ( jobseeker side ) , let us work on this and implement it as fast as we can


We must do this , even before we launch the " Employer Side "

And " Salary Profile " has important implications / ramifications , from a jobseeker's view point as well

Now , for the first time , he knows , what kind of salaries are his Co-Professionals drawing !


" Theory of Relativity " kicks in !


Is he ahead of the pack or trailing the pack ?

Such a " Revelation " - that too graphically plotted - could be exhilarating ( - if he is leading the pack ) , OR


It could be devastating / mentally shattering , if he is trailing , almost all of his co-professionals !

If he knows he is " Underpaid " , he is quite likely to show this " AUTHENTIC " graph to his boss / his Personnel Manager and ask for a " raise " - or threaten to QUIT !  {  Don't try this on me ! )


Now , what would happen if 6 / 8 ( or 25 % of employees ) professionals go to BOSS , flaunting this graph - and asking for raises ?


Would we have created a mini-revolt in an organization ?  May be


May be " salary Profiles " may end up increasing the " Churn " in Industries - but , it will certainly bring in a lot of transparency


And , of one thing you can be rest assured


Every jobseeker who registers on IndiaRecruiter , will come back and EDIT his resume , once every year , immediately AFTER the Annual Increments get announced !


He would want to make sure that ,

*  his own ImageBuilder contains , his new / revised salary

*  he is holding ( or improving ) his " Relative Position " amongst his co-professionals ( - because , if he is falling
    behind  / losing his rank , then it is a cause for worry ! )


And , of course , every time he changes his job , he will come back and EDIT because his salary would have gone up !

And , most certainly , he would encourage his colleagues ( within his own company ) to REGISTER , so that they can compare their own graphs !


We may have found a HOLY  GRAIL  !


hcp  
  

17 April , 2006   


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Please click the following hyperlinks to view different types of


 " Personnel Analytics Profiles  "  :


Sample IT Profile 


Sample NON IT Profile  


Function/Skills Profile  


Salary Profile  


Tenure Profile  


Career Profile  


KarmaScope  


Education Profile  


Project Profile





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