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Knowledge Capital

Every business requires people, and it how you keep your key people that matters. You could lose every tangible asset-furniture, fixtures, buildings, cars, files, computers, and everything else-but as long as you kept your key personnel, you could be back in business again tomorrow, generating sales and making profits.

There are three types of knowledge that a business needs to survive and thrive. Personal knowledge, company knowledge, and market knowledge.

Personal knowledge is the specific knowledge, skills, education, background, experience, training, and core competencies that an individual owns and takes with her from place to place. The ability to write, to speak publicly, negotiate, to sell, to make presentations, to type, to prepare final statements, and so on, are all forms of personal intellectual capital. The more of these kinds of knowledge and skills that are relevant to your business a person has, the more valuable that person can be.

The process of interviewing and selection, as well as delegation, supervision, and promotion, revolves around the determination and deployment of these core skills.

The second type of knowledge is the knowledge of your specific company. This form of intellectual capital is very valuable. This includes knowledge about the processes and procedures within your business, the key personalities and their relationships to each other, your products and services and how they are developed, sold, and delivered, and all the other unique factors and features that make your business different from any other.

When a person works for a business for any time, that person absorbs an enormous amount of valuable information about how the business functions. This heightened knowledge and awareness has a real value. If you lose a person who is intimately familiar with many aspects of your business the cost of hiring and training a new individual to the same level of competence can be very high.

The third type of intellectual capital is specific knowledge about the market, your customers, and your competitors; and about your products and services, and the way they are marketed, sold and delivered. The kind of customer and market knowledge can be of inestimable value in the competitive market place. The longer a salesperson, for example works for a company, the more valuable he becomes in terms of his network of contacts and his intimate knowledge of customers-who they are, where they are, why they buy, and the various buying influences that operate on them.

Not long ago, a client company of my friend brought in a new controller who has been entrusted with the function of cost reduction. The controller glanced over the payroll and arbitrarily decided that the top salesman was earning too much money and insisted the corporate office that the commission of the salesman be cut, his territory be reduced, and several of his major clients be turned into “house accounts.”

The salesman concerned represented about 40 percent of the total sales of this medium-sized manufacturing company. When they told him that they were going to cut his commissions and cut his territories, thereby reducing his income by more than 50 percent he protested. He was of the opinion that he has with the company for more than 12 years and has taken a lot of pains in building his customer base.

The company refused to listen and they were of the opinion that the customers belonged to the company and not to him. The customer’s loyalty shall therefore be towards the organization and towards their products and services. Hence they felt that there is no reason for the company to pay such exorbitant money to service accounts. They categorically stated that if you’re not happy with these new arrangements, you can go somewhere else.

The salesman tried to reason with the management, but to no avail. Finally, he quit the organization and walked across the street to their major competitor, taking all the accounts, references with him. His old company’s sales dropped by about 40 percent the following year. They almost went bankrupt. They had no idea that the relationship between the salesman and his customers was perhaps the most valuable form of intellectual capital in the entire company.

The object of elaborating this point is that any employee who possesses personal knowledge, company knowledge and market knowledge is indispensable and the management at all costs has to ensure that he is taken care of. One needs to have more of these kinds of employees rather than having employees being filled against vacant positions. Such employees do not only add value to themselves but add immeasurable value to the organization, society and country at large.

The said article has been written by Mr. Iyer Subramanian. E Mail: iyerpdkgnm@yahoo.com, Cell no. 9892523163.

My name is Iyer Subramanian. My qualifications are as under. Bachelor of Arts, Diploma in Personnel Management and Industrial Relations, Diploma in Labor Laws & Labor Welfare, Diploma in HRM, Diploma in Training & Development.

I have around 25 years of experience in HR and write for Express Hospitality, Hospitalitybiz, Business Manager regularly on HR.

Article Source:http://www.articlesbase.com/human-resources-articles/knowledge-capital-864942.html

Looking for a Job in Boston in a recession requires job seekers to change their tactics. Follow these tips, and shift your approach to focus on the needs of the employer. Identify the skills that set you apart, and how you will bring value to their organization.

Consider Contract/Temporary work/Freelance
Think about contract or temporary work to pay the bills temporarily or to get your foot in the door with a company or industry that interests you. Often times these assignments can lead to full-time employment. Many companies will even offer benefits packages for temporary and contract employees.

Concentrate on Stable or Growing Industries

• Education/Higher Education
• Clean Energy: jobs related to oil and gas, alternative energy and nuclear power.
• Health care: nurses, physical therapists, physician and medical assistants, home health aides and medical records/information technicians
• Technology
• Green: growing interest in energy/enviromental conservation and green energy is a driving demand
• New Media Communication- Web 2.0/social media - jobs available in marketing, public releations, technology, copy writing

Diversify your job skills through additional training
Specialized skills make you more valuable to your employer. Explore classes, workshops, and other training opportunities in order to set yourself apart and gain a professional advantage. Many employers offer tuition-reimbursement programs or professional development initiatives. Broadening your skill set will also make you a more flexible and versatile employee.

Recognize the Bottom Line
The current economic conditions have made businesses more bottom-line-oriented than ever. Hiring managers categorize employees into two distinct groups: those who help make money, and those who help save money. Which one are you? Either way, remain focused on ways to help the organization move forward.

Develop a marketing strategy for yourself
Identify current and future pain points for the organization and how your skills will address those and add value. Stop asking “What’s in it for me?” and start asking “What’s in it for them?” Stay focused on what you can accomplish for your next employer. Show them that you understand the “bigger picture” of the role you play in moving the company forward, and let them know what you are going to do to create value and help them move forward.

Networking, Networking, Networking
They say it’s all about networking, and they’re right. With sites like LinkedIn, Twitter, Facebook and blogs, you have the opportunity to expand your network even further online, and boost your chances of finding Boston Job Opportunities. Connect with new contacts and reconnect with those you may have fallen out of touch with. Follow blogs and become a part of online forums about job searching and the company or industry that interests you. There are industry-specific organizations that hold events open to the public. Get out there and meet industry professionals in person and make contacts. You never know where a job opportunity may come from. Some organizations in the Boston area:

Boston Ad Club www.adclub.org
NEDMA (New England Direct Marketing Association) www.nedma.com
AMA (American Marketing Association) www.amaboston.org
MITX (Massachusetts Innovation and Technology Exchange) www.mitx.org
Boston Chamber of Commerce www.bostonchamber.com
Mass High Tech www.masshightech.com
Boston Young Professionals www.bostonypa.com
NEHRA (New England Human Resources Association) www.nehra.com
Boston Business Journal www.bizjournals.com/boston

Stay Positive
The most important thing when searching for a Boston Job in tough economic times is to retain a positive attitude. Even in a job market with 10% unemployment, 90% of people are still employed.
By combining these strategies with job seeker best practices like having a clear, clean resume and maintaining professionalism during an interview, you will be able to effectively navigate the challenging job market.

Article Source:http://www.articlesbase.com/human-resources-articles/how-to-market-yourself-in-the-recession-867855.html