A New Study Shows Huge International Variations In Skills

Via Business Insider:

The Organisation for Economic Co-operation and Development, a Paris-based rich-country think-tank, has just produced new research on adult literacy, numeracy and problem-solving skills in 22 countries. Finland and Japan came top. The worst performers were Italy and Spain, where over a quarter of adults were rated at below the most basic reading level. The same countries fared poorly in basic maths skills, too: almost a third of grown-ups in Italy, Spain and America showed a poor grasp of numbers, against only one in eight in Finland and the Czech Republic and less than one in ten in Japan (see chart).

Yet intriguing anomalies abound. Australia, for example, ranks fourth in literacy, but its workers are below average in numeracy. And despite Germany’s established commitment to professional and technical training, the country has a relatively large number of workers who lack basic skills, lagging behind both the Nordic countries and the Czechs.

Click the link to see more: A New Study Shows Huge International Variations In Skills - Business Insider

Points:

• “…one reason may be a gap between what vocational students learn at school and what they are expected to do in the workplace. Such schools are being encouraged to work more closely with businesses and teach more transferable skills.”
• “…governments are now turning their attention to the highly variable skills of adults.”
• “The report notes a link between high performance and more egalitarian societies such as the Nordic ones. Countries with greater social disparities, such as Britain, Germany, France and America, do less well.”
• “Well-intentioned plans to boost the brainpower of workforces by pushing more people into universities are now also looking flawed.”
• “…vocational education needs to be both more consistent and more ambitious. But the bedrock of success is improving the quality of secondary education. Without that, letters after a name do not mean much.”

Ponder: In the USA, secondary education means kindergarten to high school. How much progress has been made in building up that part of the education system?

Study Reveals Plight of Middle-Wage Jobs

Via Chief Learning Officer:

Research from the Federal Reserve shows that the share of middle-skill or middle-wage jobs in the U.S. has dropped from 25 percent in 1985 to just above 15 percent today. While middle-wage jobs have been on the decline for a number of years, a new study from CareerBuilder and Economic Modeling Specialists Intl., or EMSI, shows that there are various fields and states where these positions are thriving.

Click the link to see more: Study Reveals Plight of Middle-Wage Jobs - Chief Learning Officer, Solutions for Enterprise Productivity

Points:

• “One quarter (25 percent) of all new jobs added in the U.S. since 2010 fall in the middle-wage range, trailing the share of both high-wage jobs (29 percent) and low-wage jobs (46 percent).”
• “Most of these occupations typically require on-the-job training, work experience, or short-term certificates and degrees that community colleges specialize in.”

Millennials’ Lack of Analytical Acumen Could Hurt You

Via Chief Learning Officer:

According to Robert G. Smith, senior vice president of AMA, despite their familiarity with technology, millennials aren’t seen as having equal analytics savvy. So there’s a disconnect — the first element of news. Second, Smith believes what’s really at issue here is an analytical mindset, which includes both quantitative and qualitative ability more than any specific number-crunching skill.

Click the link to see more: Millennials’ Lack of Analytical Acumen Could Hurt You

Points:

• “… employees need to know what to look for, what questions to ask, and how to make inferences and draw conclusions based on data to drive the organization forward.”
• “…when we speak of Gen Y — or any generation for that matter — we are describing the overall tendencies of that cohort. There certainly are individuals within that group who don’t fit the generalization.”
• “…what do we mean by analytical ability? It includes the skill to analyze broad sets of data from numerous sources, to understand and solve complex problems, to form a plan of action and to communicate that to others. Essentially, it’s the ability to sift through the tremendous amount of data that we are exposed to in our businesses, understand what’s important and then turn this data into actionable insights that can inform business strategy and tactics.”
• “For millennials who find themselves less than adequately prepared I suggest deliberately putting themselves in challenging if not uncomfortable positions at work, especially if their companies have good mentoring programs.”

Goldman Sachs On What The World Wants

Via Business Insider:

The key is the rise of the middle class consumer in emerging markets (EM).

"Over the coming decades the spending power of the EM middle class – the 'expanding middle' – will cause tectonic shifts in global consumption," says Cole. "The next set of structural opportunities in EMs will therefore depend on understanding not just the macro story of growth, but also the micro story of spending and consumption – in other words, understanding what the world wants."

So, what does the world want?

Historical consumption patterns have the answer, says Cole: consumer durables, a category that includes everything from washing machines to sports cars

Click the link to see more: Goldman Sachs On What The World Wants - Business Insider

Ponder: Should we expect a significant growth in energy demand?

The Re-Education of Jim Collins

Via Inc.com:

…not only were the cadets more collegial, but they seemed to be happier--much happier--than students at civilian universities, including those he had taught during his seven years on the Stanford faculty. Which was odd. After all, West Point cadets lead extremely demanding lives. Nearly every minute of every day is programmed, and every aspect of their lives is regimented, down to the color of their socks and the way razors must be positioned in their medicine cabinets. Meanwhile, they are constantly being tested both physically and mentally--and they often fall short. This goes on for four years with almost no letup, followed by five years of active duty.

How, Collins wondered, did such a burdensome environment produce such a happy, lively, and confident cohort of young men and women? In business, happy cultures tend to be associated with pool tables, foosball, Friday-afternoon beer parties, and dogs in the office--in a word, fun. A cadet's life is anything but fun. And yet these young people seem to get something out of their lives that is missing from the lives of many of their contemporaries.

Click the link to see more: The Re-Education of Jim Collins | Inc.com

Points:

• “…repeated failure was built into West Point's culture.”
• “To find your limit and experience the most growth, you have to go on a journey of cumulative failure".”
• “Everything the cadets did grew out of their desire to serve.“
• “…people who become the best at what they do are never content with success.”
• “It is very difficult to have a great life unless it is a meaningful life. And it is very difficult to have a meaningful life without meaningful work.”

Google HQ Office Tour

Via Business Insider:

Google is constantly being named as one of the best companies to work for. It feeds its employees three gourmet meals a day for free. It offers them a crazy array of perks from yoga classes to massages.

Click the link to see more: Google HQ Office Tour - Business Insider

The Relationship Between Hours Worked And Productivity

Via Business Insider:

For the countries for which data are available the vast majority of people work fewer hours than they did in 1990: 

Click the link to see more: The Relationship Between Hours Worked And Productivity - Business Insider

Points:

• “…more productive—and, consequently, better-paid—workers put in less time in at the office.”
• “Some research shows that higher pay does not, on net, lead workers to do more. Rather, they may work less.”