The Asian Corporate Training Market - Leveraging Brain Power

Corporate Training is a market grossing over $280 billion worldwide. The majority of this expenditure however comes from North America where companies and government organizations spent over $130 billion on training services last year. This is rather strange given the fact that the bulk of the world's population is not in North America but in Asia, which only represents 17% of the global market including India; a pale comparison with North America's 45%!

So why is it that the Western world spends more on learning and development than it's larger more populous counterparts? The answer may lie in the simple saying "you get what you pay for". 

In North America companies that offer training and services in executive education must abide by certain codes and guidelines, which include employing staff that are adequately trained and qualified. In order to offer services in corporate training professionals in North America usually have a background in Business (i.e. B.Comm or BBA) coupled with a professional qualification in training such as a CTP (Certified Training Professional), if they do not possess a level of education that is equivalent to or higher than a Masters degree. Some even have such qualifications on top of their MBA or PhD degrees.

Garnering the appropriate qualifications comes at a price and by the time training professionals are through with their education they are well aware of their market value. Thus employing adequately qualified individuals doesn't come cheap! However there are endless benefits to employing a professional in the field of training; for instance he/she will be able to provide invaluable feedback and insight in to how training programs should be structured and administered. 

With "Train the Trainer" courses and workshops becoming popular in Asia many individuals are jumping on the corporate training bandwagon. The majority of these individuals seem to originate from the airline industry and are in most cases former flight attendants. These types of "trainers" are becoming increasingly prevalent in South Asia. Granted elite airlines do offer their employees a  training in food and wine along with customer service and etiquette, working aboard a jet hardly qualifies as corporate exposure (unless they engage in frequent corporate-centric discussions with business class passengers ). This may seem harsh but it's the ugly truth! 

The South Asian corporate training market is also a victim of another type of "Trainer" the “ I’ve got X amount of years of work experience so I must know what I’m doing” trainer. Often times these individuals do not possess a post secondary education relevant to the corporate training industry but build their business on contacts and influence. The real injustice in hiring these types of individuals is done in fact to the participants of their workshops who have invested time and money but aren’t aware that the advice and training they’re getting is not built upon sound knowledge and relevant experience in the field of training.

The reason for Asia’s expenditure being so marginal in comparison to that of North America is that individuals who are not experts in the field of corporate training often charge professional fees that are much lower than those of sound and proven training professionals. A one day training conference in North America would cost a minimum of approximately $125 whereas a similar conference in Asia could cost as little as $50. Another important factor is the barter system. The Asian culture as a whole fosters bargaining and citizens often look for the best deal, failing to realize that in the knowledge market cheap may not always be the best deal! They want something for nothing but overlook the quality of product they are getting at a cheaper price.

The bottom line is that if Asian countries want to be on par with North America where professionalism and corporate know-how is concerned they need to invest more in their people. The capacity for knowledge and growth in Asia especially in the South Asian subcontinent is endless with eager youth and young graduates seeking to further themselves.  However in order for the Asian and South Asian markets to compete with North America on professionalism they need to employ adequately qualified corporate training professionals than can help them leverage their brain power and reach their full potential. And for the time being (at least until more standardized systems for trainer evaluation and certification are implemented) that may mean hiring outside the continent.

Copyright © 2012 by Professional Edge Consulting

Evaluating your network

How effective is your network? While attending networking events and growing your network is essential to gain access to different individuals and skill sets it's important to know how to grow your network effectively. 

Before you can add to your existing network of clients, colleagues, and potential leads you need to take a step back an examine your network. That's where evaluating your network comes in to play. In a previous post we mentioned evaluating your network as one of the rules of networking, in fact it's one of the most important and often times overlooked aspects of making connections.

Evaluating your network is a relatively easy task that will help you determine where you network may be lacking some contacts or how your network can be streamlined. 

To evaluate your network you will need to create a four column table similar to the one below:

In the contact column list the names of your top 10-15 contacts, and in the subsequent columns follow suit beginning with what sector or company they work in and so forth. This will allow you to determine how you met your contacts and what fields you're connected with. If you find that you have introduced yourself to the bulk of your contacts your network may be inbred as a result of your introducing yourself to people you personally are drawn to. On the other hand if you find you've got a network where all your key contacts are from differing sectors your network may be too diversified and diluted. You should aim to have about 2 contacts in each of your varying sectors.

Evaluating your network also helps in identifying super-connectors. These are individuals who connect differing or contrasting groups of people and are willing to share their diverse contacts with others. It's important to be able to differentiate between information brokers and super-connectors. Information brokers will have access to various pieces of information as they are individuals that connect different groups of people. For example an information broker may know someone in the banking sector and someone in the healthcare sector, thus giving him/her access to private information from both sectors. A super-connector is such an individual who is willing to share this information with others and introduce his/her contacts to others as well.

 If you find that you've got someone who's introduced you to 2 or more of your top 10 contacts then they're most likely your super-connector. It's important to know who your super-connectors are and show your appreciation for them. This can be achieved through introducing them to one of your other key contacts that they may benefit from knowing.

Once you've evaluated your network you will be able to determine whether it's inbred or too diluted or even just fine the way it is. If you've got an inbred network you need to engage in networking more actively and seek out contacts in sectors differing from just your own and those that interest you. Attending local networking events and seeking out contacts from a sector completely different from your own is a great way to start. If your network is too diluted you need to determine how you want your network to be structured, perhaps bring the focus of your networking back to seeking out contacts in your own sector or field of work. This does not mean you need to drop existing contacts it simply means you need to focus on one particular sector of importance in order to bring some structure back in to your overly diversified network.

With networking it is easy to get carried away so it's recommended that you conduct network evaluations on a bi-monthly or quarterly basis in order to provide yourself with some insight into your own networking habits and allow for a more effective networking experience.

Copyright © 2012 by Professional Edge Consulting

Seven rules for effective networking

Networking is one of the most important tools professionals can use to increase their reach within the corporate community. According to a researchers at Harvard Business School 65-80% of positions are filled through networking alone, and many of these positions are not made public.

Recognizing the need and importance of networking in today's work environment, PEC just wrapped up a workshop on networking entitled Cocktails & Conversations. Here's our take on rules for effective networking:

1. Don't discount handshakes: A handshake is your first physical interaction with someone and it takes more time to recover from a bad handshake than it does to give a good one.

2. No complaints: Do not complain about anything to people you meet at a networking event. You may be having a horrible day but complaining about it to people you just met won't get you anywhere. Always keep conversations on a positive note and avoid any negative news or topics.

3. Don't be selfish : Networking is not a solo sport! You should network to help others and not just yourself. If you bear only your own interests in mind contacts will realize that they see no benefit in staying connected with you. Always aim to establish a symbiotic relationship with your business contacts.

4. Stay connected : Aim to establish weak ties as opposed to strong ties. Weak ties are contacts that are more acquaintances than friends. With friends we establish strong ties and often times have the same mutual friends and similar access to information resulting in an inbred network. Weak ties are established by touching base with contacts once or twice a month via email or LinkedIn. Make sure your keep message content relevant to your working relationship.

5. Diversify your network : An effective network will enable you to have access to many different people and their skill sets. The key to this is diversity. While looking to fill your network you should strive to meet people in sectors and industries that differ from your own. By creating a diversified network you will have access to varying skill sets that complement and even challenge your own. This will be helpful building cross-industrial and even cross-cultural working relationships.

6. Get carded : One of the most important things you need to pass on aside from your name and designation is your contact information. It's crucial to carry an adequate amount of business cards when attending networking events. Passing on your business card is not only a means of passing on your contact information it's also a means of requesting information from a new contact; passing on your card will prompt the other to give out his/her card in 99% of cases. It's also a great exit strategy to leave one group and move on to another. Always pass on your card with a leading statement such as "Here's my card do keep in touch".

7. Evaluate your network : It's important to know your network and be aware of the contacts you have and which contacts you'd like to have. Make a list of your top 10-15 contacts and what sectors they're involved in. If you find the bulk of your contacts are from the same sector you may have an inbred network thus you need to diversify. If your network is already diversified you need to watch for dilution and make sure you streamline your network in order to have a balanced mix of contacts from your own and differing sectors.

Copyright © 2012 by Professional Edge Consulting

MBA programs that don't require the GMAT: How credible are they?

Most business students or prospective business owners view the MBA as a fast track to their dream job in the business world. This however is not often true as there are many options for obtaining a MBA program in today's modern technology driven world.

Many universities around the globe offer graduate programs in Management but just how many of them are credible? 

Prior to new developments in experience driven programs, the one quantitative measure of a person's ability to succeed in a MBA or Graduate program in Management was the GMAT. Short for the Graduate Management Admission Test, it was created by the Graduate Management Admissions Council (GMAC) which came in to being in 1953. Currently the GMAT is a computer based test divided into four sections:

1. Quantitative - 37 Questions
2. Verbal  - 41 Questions
3.  Integrated Reasoning - 12 Questions
4. Analytical Writing Assessment - 1 Topic

The test lasts approximately 3.5 hours and provides test-takers with a score between 200 and 800, the lowest and highest respectively.

Although the GMAT is a standardized test it is not for the faint of heart as many prospective MBAs spend months engaged in intense preparation and studying. In fact there is a lot of pressure placed on students to perform well on the GMAT and obtain a minimum score. Business schools have now realized that placing a minimum entrance score may be scaring away prospective students; the world's top 10 business schools don't have a minimum score requirement. However students should be warned that they do exercise a great deal of scrutiny in the selection process and often times the average GMAT score of a MBA class at many of these schools is above 700.

Some business schools however capitalized on the disappointment of unsuccessful applicants that vied for spots at top business schools by offering  MBA's without GMATs ; programs that bypass the GMAT requirement. These schools look to replace the GMAT by increasing their GPA requirement or demanding more years of work experience. But how credible and valuable is a MBA program that does not test the aptitude of its candidates in Management itself?  Those who simply wish to obtain a MBA irrespective of where or how they receive it may be complacent with this type of arrangement, but in most cases MBA candidates are in the program to further themselves and open doors to better job opportunities. 

The hard facts are that since the world's best schools require a GMAT for entry in to a MBA program, those that don't are most likely not recognized globally or don't hold much water in the business world. The bottom line is you need to prove yourself to get in to a MBA and without a GMAT or even a GRE (Graduate Records Examination for US students) there isn't much to prove. Although online or sans GMAT MBA programs may seem quick and easy, in most cases they are just too good to be true or credible.

Completing a MBA takes time and dedication and there are no real shortcuts. Education is not something that you can cut corners in and this rings true for many who have obtained MBAs from unrecognized institutions and are struggling to get a foothold in the corporate world. Ultimately the lack of knowledge and credibility will show through, so if you are considering a MBA go for the credible choice. Examine Business School choices closely, avoid online programs, and start with ones that do look in to standardized testing and require a GMAT. Otherwise you risk wasting up to 3 years on a qualification that lacks credibility and recognition.

Copyright © 2012 by Professional Edge Consulting

Six common interview mistakes

Congratulations! You've landed an interview! That means you're getting the job right? Well not so fast. Here's my take on the 6 most common mistakes made by prospective employees.

1. Dressing Inappropriately
Believe it or not humans as a species are shallow and the way you dress does matter. An interview is a chance for you to showcase yourself so dress up for the occasion.When going to an interview you should overdress (within corporate boundaries). Even though the prospective workplace may suggest that a dress shirt and dress pants are the norm, remember you don't work there yet! The most suitable interview attire for both men and women is a business suit, preferably grey or black with something to add a pop of colour such as a red tie or a colourful blouse. However it's important to exercise caution, no loud prints or neon colors. You want hiring managers to remember you for your intelligence and suitability for the job not your bright pink shirt or zebra print socks!

2. No prep work
When you're selected for an interview you need to  have some background knowledge about the company you've applied to. This type of research is best conducted before you even submit your application as you will have a better idea about the work the company does and what type of culture it fosters. It's not uncommon for hiring managers to ask you what you know about the company or even go as far as asking what you last viewed on their website and what their newest projects are. An employable candidate will have a strong knowledge about the company,it's founders, sectors,and even future directions. It's also important to keep the role you're applying for in mind when researching and look for information that might be applicable to the job itself.

3. Not bringing a copy of your resume to the interview

This may seem like a trivial issue but many times candidates assume that a hiring manager will have a print out of their resume ready. This may not always be the case as managers can interview over 20 candidates for one position and may not always have everyone's resume on hand. Bringing a copy of your resume to the interview demonstrates responsibility and conscientiousness. In fact it's good to bring about 3 copies of your resume as managers may ask their colleagues or peers to sit in on the interview as well.

4. Over-confidence
Although candidates should demonstrate a sense of self assurance and confidence there is such a thing as over-doing it. This is most commonly demonstrated in how candidates answer the question "What are your strengths and weaknesses?" Candidates often list many strengths and say " well weaknesses, I have none" thinking that's what hiring managers want to hear. In fact it's the exact opposite! By denying any faults you're not only lying you're coming off as being arrogant and self-absorbed. What managers are really looking for in asking this question is humility. Are you able to recognize faults within yourself and own up to them? Do you know what you're not good at? Remember everyone hashttp://www.proedgeconsulting.ca/ weaknesses when it comes to work you just have to determine what yours are, and which ones are suitable to mention. Use your discretion.

5. Not having a reference list ready
When going in to an interview it may be essential to bring a list of reference. Many people have the phrase "References available upon request" on their CVs but employers may not have the time to ask you individually for references. Some application forms even ask for references as part of the application process. That's why it's always beneficial to go in to an interview with a list of references that can attest to your experience and suitability for the job you're being interviewed to fill. Remember to choose references that best highlight your suitability for the specific role you're competing for; general references may not cut it in today's competitive work environment.

6. Accepting phone calls during the interview

No phone calls during an interview may seem like a common place rule to some but there are folks who make this mistake quite often. I myself was faced with such a situation when conducting an interview. My candidate interrupted me to accept a call and never offered an apology. Needless to say she did not get the job. Taking or making calls during an interview is extremely rude and makes the interviewer feel like you're not really interested in the position. It's also a sign of disrespect for the interviewer and disregard for the position you're vying for. You're at the interview to sell yourself not to socialize on the phone so during the interview cell phones should be off or on silent; vibrate is not an option. In order to demonstrate your dedication to the prospective role you must give the interviewer your undivided attention.

- Praveeni Perera
Connect
Professional Edge Consulting 

Copyright © 2012 by Professional Edge Consulting

Are we losing that personal touch while trying to "stay connected"?

With the influx of new technology aimed at making the corporate world more accessible to citizens everywhere all the time, we seem to spend a lot of time trying to “stay connected”. These days everyone’s got a blackberry, iphone, or another variety of smart phone that “connects” them to everyone else. But just how well do we know the people that we email, tweet, text, or add on Facebook?

In the corporate world we use social networking tools and social media to grow our networks and promote our businesses. Most professionals prefer to connect on LinkedIn but just how many of the contacts on LinkedIn have they actually met? Do they even know 50% of the people on their friend or contact list?

It’s much easier to email a colleague about a report that’s due or finalize plans with friends over whatsapp than it is to actually pick up the phone and call them. In person interaction seems to be at an all time low as new developments in technology are slowly making in person meetings a thing of the past, with most progressive companies using group chats, conference calls, and Skype. All this technology may not be a good thing for our own social nuances as we don’t see people face to face or interact with them in person, leaving us without the need for expressing emotions and exchanging niceties. Sure we can write someone a nice a message or email but wouldn’t it be much more effective in person? Or even a hand-written note as opposed to a typed text?

“Staying connected” can also remove us from the real world! We’ve all seen it before, the busy executive always checking his blackberry with not a moment to spare for lunch or even to say hello to staff walking by his office. Even when he does meet with friends or colleagues in person he has very little to say because he’s always so absorbed in his blackberry and hardly makes eye contact. He may think he’s staying afloat of what’s going on in the world but he’s missing first hand interaction. His dependence and devotion to his blackberry makes him come across as being self-absorbed; too busy to care about what others have to say and just downright rude. Although he thinks he’s staying connected he may very well be ostracized from social groups for his reclusive behavior.

Connections can be made online but are strengthened in person, through human interaction. After all isn’t that the point of networking events? Even though smart phones and laptops are  invaluable assets to self-promotion and growing a business they do not trump one-on-one human interaction. The reality is we need to be able to see and speak to someone in person in order to trust them and buy their product.

Copyright © 2012 by Professional Edge Consulting