Jobs, a word that stirs up many emotions, and as of late mostly worry. For those of all ages the economy is worrisome. From those who have been loyal employees at the same company for thirty years to those stepping off of campus this month with the ink still wet on their diplomas. All are troubled with what the future holds for them. Every year, at this time, the discussion resurfaces and as graduation inches closer for us here the thought of life after school becomes ever more prominent.
As we just celebrated the 4th of July, instead of honoring the mark of this nation’s freedom, there is more talk about the holiday falling on a Wednesday. This is the time families travel miles to spend the weekend together and enjoy fireworks and cookouts. Employees see this as an opportunity for a potential long weekend. Tuesday becomes the new Friday and they become less productive and more unfocused. Employers on the other hand cannot afford to lose such a critical day in the week.
As discussed in yesterday’s introduction post, different cultures have very unique ways of doing business; from business dress, to conducting meetings, to even the customs surrounding deal-making. Each nation takes a unique approach to how many holidays they observe; this is a reflection of their distinctive culture and can affect their economy and business environment. In today’s fast-paced, ever-changing work environment, each day off means less output which in turn reflects potentially lost money. Days off are important for worker’s mental and physical health, but there needs to be a balance between productivity and a conducive work environment. The amount of bank holidays that a nation celebrates could be impacting the economy more than you think.
Work-life balance has always been a priority for employees, but not all workplaces have given it the same respect. The amount of vacation time and the number of hours employees are required to work in a week vary greatly across the world. Much of this is a result of cultural differences and tradition, but it also can greatly affect the productivity and happiness of workers. Overworked and unhappy employees can be extremely unproductive. There are many theories and methods for improving morale, but one of the simplest ones is limiting the amount of time employees are working. Sounds simple right? For many employers, it hasn’t been so easy.
Family or career? This has been a tough choice for many. The Dutch might have the answer. Daddy days and job-sharing as well as part-time employment have become quite typical in the Netherlands. Because of these irregular work hours, many companies do not even have assigned cubicles for their employees. Some examples are Microsoft and the Economics Ministry. Both have moved to what is known as "flex-buildings" which are smaller offices with less work stations than employees.
Universum, an employer branding company, released today the world’s Top 50 most attractive employers. From the world’s leading economies, nearly 130,000 students at top academic institutions chose their ideal companies to work for. This is a global index of employer attractiveness that highlights powerful global brands. These companies excel in talent attraction and retention. Students from Brazil, Canada, China, France, Germany, India, Italy, Japan, Russia, Spain, U.K., and U.S. all contributed their employee preferences.
When you think of economic globalization, you think of the integration of national economies into the international economy through trade, foreign direct investment, capital flows, and the spread of technology. But one very important one that isn't thought of too much is migration. In the past it was almost unthinkable to leave your homeland just for a job overseas, especially just to look for one. Now it is becoming commonplace, especially with the high unemployment rates seen in countries such as the United States, United Kingdom, and Spain (the latter of which is a whopping 19.9 percent!). Meanwhile in other developing economies, especially in Asia, the rates area much more respectable. The unemployment rate in Hong Kong is 4.6 percent, in Australia 5.1, and in Singapore only 2.2 percent of the people are out of work.
So this past week being sick with the flu, gave me an excellent idea. What should you do as a business as flu season approaches? There is a possibility of a widespread H1N1 outbreak, and employers around the world need to take important steps. Employees are a crucial resource at any business, and especially small businesses. There are steps you can take now, and during the flu season, to help protect the health of your employees.
It is known everywhere that Europeans do not work as much as Americans or other workers worldwide. Many see it as a problem with the European work ethic, and those who are used to spending 9-10 hours in the office give Europeans disapproving looks.
The United States is still looked at as the most competitive nation worldwide, but other data such as GDP per hours worked reveals that many countries in the EU are just as productive as the U.S. and they have the benefit of more days off per year. Furthermore, countries in the Benelux (Belgium, the Netherlands, and Luxembourg) are 27% more efficient than the U.S. and France is only 2% less efficient.
You may be surprised by such data; however, the explanation is simple. A rested mind operates much better and in a much more efficient way than an exhausted one. Statistics show that while Europeans are on vacation they hardly worry about the state of the economy or other work issues; Americans on the other hand spend too much time preoccupied and dwelling on issues instead of relaxing. Moreover, Americans are more likely to visit Facebook or other social websites due to the fact they have less time to enjoy with friends.
In conclusion, on one side there is France and Luxemburg with highly competitive economies and many vacation days; and on the other there is the U.S. - competitive but at the price of exhausted workers...I think it's obvious who has the better deal. So, should something be done about increasing vacation for employees in the States or would it be of no help?
Many managers are feeling under pressure at work due to the current state of the economy. In their desire to boost up morale at work, many of them actually tend to reward bad behavior in the office which can be costly to the company. The following are some well-intentioned practices that tend to backfire and ways to fix them:
Companies worldwide are expressing concerns because about 77% of employees have Facebook accounts and more than half access it during work hours. This decreases productivity by 1.5%. Are employees simply wasting time on the website or is there a better reason for it?
A recent survey done by the National Institute for Occupational Safety and Health found that employees who who went into work while sick were 53 percent more likely to take a sick leave of two weeks or more and 74 percent more likely to take a sick leave of two months or more.
My last blog post summarized the negative effects that come from stress. The number of "super stressed" work environments is steadily increasing, especially in Asia
. Here are some tips for managers on how to make the working environment more stress-free:
Over the past decades job stress has been steadily increasing. The top countries where businessmen admit they are “super stressed” are Taiwan and Hong Kong, and the ones that report lower stress levels are countries in Western Europe. Unfortunately, in the past few years stress in the corporate environment has been rising fast due to the global economic conditions. And this is how we get into a vicious circle of stress: the economy experiences a slump, workers feel more stressed, their productivity is reduced, economic conditions get even worse, and the cycle continues.
