The nth Richest
Man
-----------------------------------------------------------------------------------
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
---------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------
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
---------------------------------------------------------------------------------------
Note dated
17 April 2006
-----------------------------------------------------------------------------------------
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 )
Quite a lot
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
* " 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
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 !
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
17 April , 2006
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
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
" Personnel Analytics Profiles " :
Sample IT Profile
Sample NON IT Profile
Function/Skills Profile
Salary Profile
Tenure Profile
Career Profile
KarmaScope
Education Profile
Project Profile
