Business | Blog

Robots versus humans

Posted on September 2, 2016August 21, 2016 by Victor Varma

Convenience will abound. Accuracy will increase. And, jobs will change.

As humanity hurtles into the future of Artificial Intelligence, the most frightening notion of robots doing our work is that we won’t be doing it. Or will we?

Futurists, businesspeople, scientists disagree and they are just guessing about how smart machines will change the world, but agree robots will make a tremendous change. We can even see this in the recent past.

For example, the invention of the ATM, a robot, put an automated bank teller on every corner, creating convenience for people. It also created jobs since humans had to create the ATM, tend it, and install it. Meanwhile, there were fewer human bank tellers needed to dispense cash. Even with the new convenience of ATMs, use of that robot declined. Why? The debit card has made cash nearly obsolete. The widespread use of debit cards changed the use of robots. There are fewer robot ATMs on the corner and more of them in tiny little boxes on the retail counter. Again, the technology created convenience and people’s demand for ATMs changed.

Technology and the convenience or usefulness that it creates changes needs in the labor market, but it also creates a need for labor. At the same time, robots could lower prices of goods, according to the Los Angeles Times, making it possible for humans to live comfortably on less money.

Many observers contend that robots won’t take jobs, but they will change them.

“Technology will dramatically change the nature of our jobs, but it won’t take them. Rather, it will free up individuals to focus on higher value challenges that can only be tackled by a human mind.” writes Information Age editorial director Ben Rossi.

The CEO of a robotic company, David Lang, says, “Robots aren’t taking the jobs. Technology is changing the spectrum of possibility. The real risk in the next economy is not being replaced, it’s missing the opportunity.”

Steven Rosenbaum, writing for Forbes, says one of the dangers of robots is that, without the human element, one loses the elements of surprise, engagement, and fun.

“The danger of allowing robots to do the work of humans is that they are getting close enough that people will start to accept almost ‘good enough’ content created by robots,” Rosenbaum writes.

Rosenbaum proposes that a new rule of robotics should be that robots should never impersonate people.

“For the foreseeable future – the question of where humans and robots share joint custody of the future remains unclear. But until then, having robots not impersonate people seems like a reasonable place to draw the line,” he writes.

Show appreciation to all who help or perform well

Posted on May 24, 2016April 16, 2016 by Victor Varma

“Bonuses get spent, titles get old, but a thank you lingers”

Larry Page has his own “Reasons to work at Google.” It says things like, “We love our employees and we want them to know it,” and “Appreciation is the best motivation.”

Janice Kaplan, author of a new book called The Gratitude Diaries, says companies are setting a thank-you trend, mainly because expressions of gratitude in the workplace are scarce.

In just one survey, 80 percent of people said that receiving gratitude or appreciation for their work makes them want to work harder.

An analysis of 50 studies by the London School of Economics shows that people give their best effort if they are interested or excited about their work, but especially if others appreciate what they are doing.

At the University of Pennsylvania’s Wharton School, Professor Adam Grant divides people into three categories: Takers do something if they will get something in return.

Matchers are always playing the corporate game.

Givers contribute to others without looking for a reward. They offer help, advice and knowledge. While many workplaces have a competitive atmosphere, givers can also end up on top. Those who combine giving to others with awareness of their own needs can be the most successful of all, Dr. Grant says.

It’s not just managers who should show appreciation. Co-workers can make a difference with a simple “I appreciate that,” when dealing with others.

Forklift Hazards

Posted on May 17, 2016April 16, 2016 by Victor Varma

On a forklift, stability is the key to safety and the most important step is knowing your lift’s capacity, according to ehstoday.com.

Always be aware of the load capacity of a forklift. Review the data plate on the truck. Data plates should be readable and not tampered with in any way. If a data plate has been altered, check with the employer.

Know your route. In busy environments, be familiar with possible obstacles or traffic that can cause problems. Narrow passages or areas with foot traffic can make your passage dangerous. Don’t hesitate to stop and wait for traffic or hazards to clear.

Of course, this can only be done if you are driving at a speed suitable for the situation. Driving too fast on a forklift is a common cause of accidents in the workplace. Be aware of speed bumps and workplace speed limits.

Honoring personal time

Posted on May 10, 2016April 16, 2016 by Victor Varma

Today the boss and your colleagues can reach you 24-7, at night, on vacation, at your kid’s soccer game.

Technology has been seeping into off work hours for years and the problem is worldwide. Volkswagen AG recently passed a corporate-wide rule banning business emails between 6:15 am and 7 p.m. German employees love it.

In the U.S. the issue has resulted in overtime lawsuits.

Managers can solve the problem.

* Build in predictability. Nancy Rothbard, a Wharton School management professor recommends spending part of Friday afternoon scheduling time to complete mandatory projects for the next week so you won’t end up doing them at night.

* Schedule a 4 p.m. triage. Decide what your team should finish by the next day. Laura Vanderkam, author of What the Most Successful People Do Before Breakfast, asks “If an evil villain cut the power, what would you still do?”

* Use lunchtime for check-ins. Make social and brainstorming rounds while grabbing some food. That way you get interaction, but can still deal with anything that comes up before quitting time, Vanderkam says.

Other experts, quoted in Bloomberg Businessweek, say the open configuration of offices is partly to blame because no one gets to concentrate.

Companies hope to retrieve the business knowledge of pre-retirees

Posted on April 19, 2016March 31, 2016 by Victor Varma

Companies across the country from defense contractors to General Motors and General Electric are scrambling to ensure that millions of younger managers are ready to step into leadership roles as baby boomers retire.

About 10,000 boomers reach retirement age every day, according to Bloomberg Businessweek. Companies large and small are often unaware of how much company knowledge the retirees will take with them.

Dorothy Leonard, Professor Emeritus at Harvard Business School, and her firm Leonard-Barton Group, have developed knowledge-transfer programs at several GM divisions.

Until last year, boomers made up the largest portion of the U.S. population, and Generation X represented the biggest share of the workforce. Now millennials lead in both categories. They hold 20 percent of all management jobs, up from 3 percent in 2005, according to U.S. Bureau of Labor Statistics.

“In the next 10 to 15 years, we’re going to have the greatest transfer of knowledge that’s ever taken place,” says Chip Espinoza, Director of Organization Psychology at Concordia University Irvine. He says to handle the shift, companies need to create relationships between the generations.

Multinational defense and aerospace company BAE has been preparing for the retirement cliff for several years. They adopted a NASA program developed when the space agency started to lose expertise from lunar landings as individuals retired.

When BAE learns that an employee with deep institutional knowledge plans to retire, even in a couple of years, a knowledge transfer group of about a half-dozen people working in the same area is formed. The teams meet regularly to talk and exchange advice.

Younger workers get tips and older workers learn how to gradually hand off duties to junior employees.

Employers want you to leave your 401(k) behind

Posted on April 15, 2016March 31, 2016 by Victor Varma

American employers are urging employees to keep savings in their corporate plans when they leave the company or retire.

The move fits with an effort by companies to improve the terms of their plans and to encourage more workers to save. The goal is to ensure that older workers can afford to retire, which makes room for younger hires.

A huge pool of money is at stake. Baby boomers now in their 50s and 60s hold about $4 trillion in defined-contribution retirement plans, according to The Wall Street Journal. Some companies say that in 2013, for the first time, 401(k) withdrawals exceeded contributions.

Companies like International Paper tell employees that it’s easier and cheaper to keep their money in the company fund. Robert Hunkeler, V.P. of investments, says it costs workers just 0.45 percent of assets when they stay in the company’s 401(k) plan. By comparison, he estimates that it would cost 1.5 percent if withdrawn and invested elsewhere.

Financial advisors, who have been eyeing an influx of baby boomer wealth, stand to lose business and fees if companies succeed in persuading employees to leave their savings with their companies when they leave.

More than a third of American households with people age 50 to 64 have saved nothing for retirement.

Companies have programs that let them hire new graduates now, let them start work later

Posted on February 17, 2016 by Victor Varma

Businesses large and small are seeking workers who can adapt to rapid technology changes or strategic shifts. Companies are realizing they should recruit for innate abilities, or attitudes such as high motivation, rather than skills needed for a particular job.
Intuit, which brings on about 200 new college grads annually, started program hiring some three years ago. Entry-level hires are locked in more quickly since recruiters arrive on campus armed with approval to make hires on the spot.
A candidate who accepts the hiring offer sets in motion a complex, matchmaking process that includes salary discussions. Each new hire is assigned to a recruiter who coordinates a series of matching conversations between the hire and various managers.
The conversations are designed to align the hire’s interests and talents with an available position, and with teams, they help with campus recruiting to get first choices on new hires.
Everette Fortner, a head career advisor at the University of Virginia, told The Wall Street Journal that some students balk at nonspecific offers. It took one five months to accept a full-time job.
Zappos currently hires the old-fashioned way, but that won’t be for much longer. Beginning next year, the company is considering ways to allow hires to carve out their own roles.