The Market that Needs a Market Maker

Do you wonder why there were an average of 8 million jobs posted online in the U.S. every month of last year, while 13 million people continued to search for work during the exact same months? The reason is that the U.S. — along with just about every other country — is suffering from a talent mismatch: employers cannot find individuals with the skills and capabilities they need, where and when they need them. The problem is not just one of location and timing, however. There is no mechanism that reliably signals which skills employers need so that individuals and schools can develop those skills. In other words, the relationship between supply and demand is tenuous at best. The job market simply doesn’t function the way a market should.

Experts have examined the problem from every angle and concluded that, if left unresolved, the skills mismatch will continue to eat away at U.S. competiveness. Research by the McKinsey Global Institute predictsthat by 2020, the U.S. will need to create 21 million new jobs to return to full employment but, should present trends continue, there will be 1.5 million too few college graduates to meet demand and that 5.9 million people will not have the education employers require and will therefore be unemployable. That’s why at ManpowerGroup we believe that investment ought to focus on youth, who are now entering the market and who most need training. Building their skills will help unleash their potential and start to close the widening gap. Still, while I cannot overstate the importance of training, it alone will not solve the labor market’s structural dysfunction.


Tammy Johns

http://blogs.hbr.org
TAMMY JOHNS
Tammy Johns is a senior vice president at ManpowerGroup, in charge of the company’s innovation and workforce solutions.

Do you wonder why there were an average of 8 million jobs posted online in the U.S. every month of last year, while 13 million people continued to search for work during the exact same months? The reason is that the U.S. — along with just about every other country — is suffering from a talent mismatch: employers cannot find individuals with the skills and capabilities they need, where and when they need them. The problem is not just one of location and timing, however. There is no mechanism that reliably signals which skills employers need so that individuals and schools can develop those skills. In other words, the relationship between supply and demand is tenuous at best. The job market simply doesn’t function the way a market should.

Experts have examined the problem from every angle and concluded that, if left unresolved, the skills mismatch will continue to eat away at U.S. competiveness. Research by the McKinsey Global Institute predictsthat by 2020, the U.S. will need to create 21 million new jobs to return to full employment but, should present trends continue, there will be 1.5 million too few college graduates to meet demand and that 5.9 million people will not have the education employers require and will therefore be unemployable. That’s why at ManpowerGroup we believe that investment ought to focus on youth, who are now entering the market and who most need training. Building their skills will help unleash their potential and start to close the widening gap. Still, while I cannot overstate the importance of training, it alone will not solve the labor market’s structural dysfunction.

How can the U.S. labor market become more efficient? Leer más “The Market that Needs a Market Maker”

The Age of Big Data ****editorial NEWS ANALYSIS****

Mo Zhou was snapped up by I.B.M. last summer, as a freshly minted Yale M.B.A., to join the technology company’s fast-growing ranks of data consultants. They help businesses make sense of an explosion of data — Web traffic and social network comments, as well as software and sensors that monitor shipments, suppliers and customers — to guide decisions, trim costs and lift sales. “I’ve always had a love of numbers,” says Ms. Zhou, whose job as a data analyst suits her skills.

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Chad Hagen

To exploit the data flood, America will need many more like her. A report last year by the McKinsey Global Institute, the research arm of the consulting firm, projected that the United States needs 140,000 to 190,000 more workers with “deep analytical” expertise and 1.5 million more data-literate managers, whether retrained or hired.

The impact of data abundance extends well beyond business. Justin Grimmer, for example, is one of the new breed of political scientists. A 28-year-old assistant professor at Stanford, he combined math with political science in his undergraduate and graduate studies, seeing “an opportunity because the discipline is becoming increasingly data-intensive.” His research involves the computer-automated analysis of blog postings, Congressional speeches and press releases, and news articles, looking for insights into how political ideas spread.

The story is similar in fields as varied as science and sports, advertising and public health — a drift toward data-driven discovery and decision-making. “It’s a revolution,” says Gary King, director of Harvard’s Institute for Quantitative Social Science. “We’re really just getting under way. But the march of quantification, made possible by enormous new sources of data, will sweep through academia, business and government. There is no area that is going to be untouched.”

Welcome to the Age of Big Data. The new megarich of Silicon Valley, first at Google and now Facebook, are masters at harnessing the data of the Web — online searches, posts and messages — with Internet advertising. At the World Economic Forum last month in Davos, Switzerland, Big Data was a marquee topic. A report by the forum, “Big Data, Big Impact,” declared data a new class of economic asset, like currency or gold.


http://www.nytimes.com/ | By 
NEWS ANALYSIS

GOOD with numbers? Fascinated by data? The sound you hear is opportunity knocking.

Mo Zhou was snapped up by I.B.M. last summer, as a freshly minted Yale M.B.A., to join the technology company’s fast-growing ranks of data consultants. They help businesses make sense of an explosion of data — Web traffic and social network comments, as well as software and sensors that monitor shipments, suppliers and customers — to guide decisions, trim costs and lift sales. “I’ve always had a love of numbers,” says Ms. Zhou, whose job as a data analyst suits her skills.

To exploit the data flood, America will need many more like her. A report last year by the McKinsey Global Institute, the research arm of the consulting firm, projected that the United States needs 140,000 to 190,000 more workers with “deep analytical” expertise and 1.5 million more data-literate managers, whether retrained or hired.

The impact of data abundance extends well beyond business. Justin Grimmer, for example, is one of the new breed of political scientists. A 28-year-old assistant professor at Stanford, he combined math with political science in his undergraduate and graduate studies, seeing “an opportunity because the discipline is becoming increasingly data-intensive.” His research involves the computer-automated analysis of blog postings, Congressional speeches and press releases, and news articles, looking for insights into how political ideas spread.

The story is similar in fields as varied as science and sports, advertising and public health — a drift toward data-driven discovery and decision-making. “It’s a revolution,” says Gary King, director of Harvard’s Institute for Quantitative Social Science. “We’re really just getting under way. But the march of quantification, made possible by enormous new sources of data, will sweep through academia, business and government. There is no area that is going to be untouched.”

Welcome to the Age of Big Data. The new megarich of Silicon Valley, first at Google and now Facebook, are masters at harnessing the data of the Web — online searches, posts and messages — with Internet advertising. At the World Economic Forum last month in Davos, Switzerland, Big Data was a marquee topic. A report by the forum, “Big Data, Big Impact,” declared data a new class of economic asset, like currency or gold. Leer más “The Age of Big Data ****editorial NEWS ANALYSIS****”

Switzerland blazes innovation trail

A nearby flight instrument company, Flytec, approached Victorinox with a suggestion for a gadget geared to mountain climbers. Flytec now supplies the knife maker with electronics for an altimeter, barometer, thermometer and clock.

The company has made mistakes – a tool for in-line skaters that came with a separate pouch for different-sized keys wasn’t a success – but Victorinox continues to tinker and add new features to its products. Mr. Elsener’s top goal is to boost the appeal of Swiss Army knives among women, who tend to buy them more for the men in their lives.

In the global scheme of things, Victorinox is a small company. But like other Swiss firms – from online scheduler Doodle to Thermoplan, which supplies coffee machines to Starbucks – it has found its niche. And that’s reason to believe Switzerland’s economy may keep on thriving.

“I strongly believe in the future of Switzerland because of globalization, because open economies can play advantages in innovation even better than protected economies,” Mr. Gassman said. True, it costs more to make stuff there, but that “can be overcompensated by productivity – and even more innovative products and design.”


Victorinox logo.

TAVIA GRANT
http://www.theglobeandmail.com/report-on-business/economy/growth/switzerland-blazes-innovation-trail/article1750626/

IBACH, SWITZERLAND— From Saturday’s Globe and Mail

In a tiny town in central Switzerland surrounded by velvety green mountains and punctuated with whiffs of cow dung, a 126-year-old factory churns out 60,000 Swiss Army knives and other pocket tools each day for a hungry global market.

All the folding blades at Victorinox AG are still made in Ibach, population 3,500. The company is run by the founding Elsener family, now in its fourth generation. Its brand has, over the years, become synonymous with Switzerland itself: quality, precision, reliability.

Yet Victorinox is anything but static. Back in 1891, its main product was a heavy, wood-handled knife built for the Swiss army. Now, its knives come equipped with laser pointers and USB drives with biometric sensors. The factory has been upgraded to the latest high-tech gadgetry (machines that look like fingers do the finicky job of assembling the knives), leaving workers free to develop new tools. Sales are roughly $200-million a year, 90 per cent of its products are exported, and it is expanding into new markets such as Brazil, Argentina and China. All this, and employees still get 1½-hour lunch breaks.

Carl Elsener Jr., Victorinox’s approachable chief executive officer, proudly proclaims that his company has never outsourced production or axed jobs due to recession – in fact, it has a history of boosting investment, not cutting it, during economic downturns. He credits its endurance to innovation, which is helping Victorinox face its biggest challenge yet: competition from cheap Asian counterfeits.

“Innovation is in our blood here in Switzerland – since the beginning, we’ve always tried to make things better,” Mr. Elsener said in an interview at his company’s headquarters. “Maybe it’s because we were forced early to be global and to think about exports.”

Innovation seems to seep from Swiss pores. The Alpine nation of 8 million people was named the world’s most competitive economy in a recent ranking by the World Economic Forum, and regularly leads the world when it comes to innovation. The Swiss hold the most patents per capita in Europe – Albert Einstein once worked in the Bern patent office – and the country is a hub for global giants such as Swatch, UBS and Nestlé.

Canada, meanwhile, is still struggling to shed its hewer-of-wood image. The Conference Board of Canada slapped the country with yet another “D” in innovation this year, and it slid to 10th place in the WEC rankings. For Canada to thrive in a global, knowledge-based economy, it must focus on turning good ideas, of which we have plenty, into marketable products, which we’re not so good at. Switzerland offers plenty of lessons on how to do it.

“It’s about desire,” said Roger Martin, dean of the Rotman School of Management. “European countries are more practised in how to compete in sophisticated ways. They can’t chop down trees, dig out rocks, or fish. So they’ve been at it longer to upgrade their products.”

It’s tough to imagine it now, but in the late 1800s, as Victorinox founder Karl Elsener was training as a master cutler, Switzerland was one of the poorest nations in Europe. Its economy was largely based on agriculture, and robbers ruled the roads. It had no coal, steel or iron – no natural resources at all, in fact – and for a time, the industrial revolution bypassed the tiny mountain nation.

Out of necessity, much like Japan, it developed a knack for importing goods and putting them together in smarter ways, or copying other people’s products and making them better.

Over the years, said Oliver Gassmann, chair of innovation management at the University of St. Gallen, Switzerland developed a unique innovation policy.

“It’s bottom-up, science-based and market-oriented,” he said.

Education is key to the country’s position as an innovation hub. Its school system produces world-class scientists who are focused on the pragmatic implementation of new ideas, Mr. Gassmann said. And Swiss universities and technical schools collaborate with multiple partners, including businesses, to bring ideas to market. Leer más “Switzerland blazes innovation trail”

Ingenuity vs. Inefficiency: A Tale from Tianjin

The 2010 Annual Meeting of New Champions, or “Summer Davos,” just wrapped up in Tianjin. An exceptional event. But perhaps the most interesting insight I gathered on the state of business in China today came from trying to get a local SIM card to make calls back to the U.S. I’ve changed names to protect the innocent, but otherwise this is what happened. I’ve never seen such intelligent, collaborative hustle leaning against such a jumble of byzantine rules.

I ask David, a front desk manager at my hotel, where I can get a SIM card. He tells me Sam from the concierge desk can go get one for me. I hand Sam a few hundred RMB, and he jets off.

A few minutes later, David calls me in my room and says that he forgot that you need to bring your passport to get a SIM card. So I go downstairs to meet Sam, and we walk the five blocks over to the China Mobile office together. It’s about 4:30 when we get there.

The office, about the size of a trailer, has travel posters on the walls and a long, unmanned glass case filled with manga characters that double as USB drives and cell phone accessories that have been gathering dust since Nokia was on top of the world. At the far end, two uniformed women with elaborate neckties wait for business. Sheila is sitting under a sign that says “Billing Area;” Rose beneath a sign that says “Cashier Area.”

Sam, by the way, is a Chinese version of Christopher Walken at 25 years old. He’s angular, with a light step, and he talks like Walken, both in English and in Chinese. That means his cadence is a pitter-patter of speeding up and slowing down, outbursts and outbeats. He exclaims “Yes!” when it doesn’t make sense, but he does it so effusively that you make the meaning work in your head because you don’t want the appeal of his presentation to fall flat.

Let me see if I can reconstruct what happened next. It was all in Chinese, so I can’t be sure of everything. But Sam explained a few key passages for me, and the visible events were universal enough, so I think I can be a pretty good reporter on what unfolded.

First Sam tells Rose what I want. A SIM card. She asks for how many days I’ll be using it, and I make signs for seven. That’s agreeable. Sheila asks through Rose and then Sam, what country I’d like to call using the SIM card. I tell them the U.S. They do some caucusing. First, Rose and Sheila exchange ideas, and then they bring in Sam, who adds enough to keep the deliberation going for a few more minutes. Then Sam turns to me to say “Calling U.S. on SIM card is very deeply expensive!” I ask how much, and it comes out to about 25 cents per minute, which isn’t cheap, but it’s a sight better than the $4/minute rate the U.S. company whose phone I brought is raiding me.

“Nah, that’s okay, let’s get the SIM card.”

He nods and conveys the conclusion to the ladies, who bustle about collaboratively now, looking up a table on a piece of laminated paper Sheila has uncovered. Sheila says something through her glasses, and Rose agrees. They turn to Sam, who then explains to me that they recommend “you don’t take SIM card, too expensive, and ECN is better.”

He’s right on the facts, since the ECN promises a 5 cent per minute charge for calls to the U.S., but it looks a lot like a calling card, and that suggests to me that I’ll get the U.S. raiding rate plus the calling card rate, so I beg off.


by Michael Fertik  | http://blogs.hbr.org/

110-Michael-Fertik.jpg
The 2010 Annual Meeting of New Champions, or “Summer Davos,” just wrapped up in Tianjin. An exceptional event. But perhaps the most interesting insight I gathered on the state of business in China today came from trying to get a local SIM card to make calls back to the U.S. I’ve changed names to protect the innocent, but otherwise this is what happened. I’ve never seen such intelligent, collaborative hustle leaning against such a jumble of byzantine rules.

I ask David, a front desk manager at my hotel, where I can get a SIM card. He tells me Sam from the concierge desk can go get one for me. I hand Sam a few hundred RMB, and he jets off.

A few minutes later, David calls me in my room and says that he forgot that you need to bring your passport to get a SIM card. So I go downstairs to meet Sam, and we walk the five blocks over to the China Mobile office together. It’s about 4:30 when we get there.

The office, about the size of a trailer, has travel posters on the walls and a long, unmanned glass case filled with manga characters that double as USB drives and cell phone accessories that have been gathering dust since Nokia was on top of the world. At the far end, two uniformed women with elaborate neckties wait for business. Sheila is sitting under a sign that says “Billing Area;” Rose beneath a sign that says “Cashier Area.”

Sam, by the way, is a Chinese version of Christopher Walken at 25 years old. He’s angular, with a light step, and he talks like Walken, both in English and in Chinese. That means his cadence is a pitter-patter of speeding up and slowing down, outbursts and outbeats. He exclaims “Yes!” when it doesn’t make sense, but he does it so effusively that you make the meaning work in your head because you don’t want the appeal of his presentation to fall flat.

Let me see if I can reconstruct what happened next. It was all in Chinese, so I can’t be sure of everything. But Sam explained a few key passages for me, and the visible events were universal enough, so I think I can be a pretty good reporter on what unfolded. Leer más “Ingenuity vs. Inefficiency: A Tale from Tianjin”

How TED Connects the Idea-Hungry Elite

Inside the World’s MOST EXCLUSIVE (and Most Accessible) CLUB with SPECIAL GUESTS including

Elizabeth Gilbert • Richard Branson • Jamie Oliver • Malcolm Gladwell • Ngozi Okonjo-Iweala • Barry Schwartz • Ken Robinson • Sarah Silverman • Bill Clinton • David Byrne • Bill Gates • Craig VenterJill • Bolte Taylor • Dave Eggers • Sharmeen Obaid-Chinoy • Sunitha Krishnan • Tony Robbins • Julia Sweeney • Isabel Allende • E.O. Wilson • and the chief himself, Chris Anderson!

The other day, I got an email from a new friend. The subject line read “Are you a TED talk person?”
It linked to an 18-minute video of MIT behavioral economist Dan Ariely talking about the bugs in our moral codes. Other friends have sent me videos of Eat, Pray, Love author Elizabeth Gilbert on the spiritual dimension of creativity; rocker David Byrne on how venue architecture affects musical expression; and UC Berkeley professor Robert Full’s insights into how geckos’ feet stick to a wall.

Each of these emails is like a membership card into the club of “TED talk people.” I love being a member of this club. The videos give my discovery-seeking brain a little hit of dopamine in the middle of the workday. But just as important, each one I see or recommend makes me part of a group of millions of folks around the world who have checked out these videos. What links us is our desire to learn; TEDsters feel part of a curious, engaged, enlightened, and tech-savvy tribe.


By: Anya Kamenetz

Photograph Courtesy of TED, by Marla Aufmuth, James Duncan Davidson, Andrew Heavens, Robert Leslie, Asa Mathat

TED, Speakers, Video, Bill Gates, Richard Branson

Chris Anderson: The entrepreneur bought TED in 2001. “It felt like something you could devote your life to,” he says.


Related Content

Inside the World’s MOST EXCLUSIVE (and Most Accessible) CLUB with SPECIAL GUESTS including

Elizabeth Gilbert • Richard Branson • Jamie Oliver • Malcolm Gladwell • Ngozi Okonjo-Iweala • Barry Schwartz • Ken Robinson • Sarah Silverman • Bill Clinton • David Byrne • Bill Gates • Craig VenterJill • Bolte Taylor • Dave Eggers • Sharmeen Obaid-Chinoy • Sunitha Krishnan • Tony Robbins • Julia Sweeney • Isabel Allende • E.O. Wilson • and the chief himself, Chris Anderson!

The other day, I got an email from a new friend. The subject line read “Are you a TED talk person?”
It linked to an 18-minute video of MIT behavioral economist Dan Ariely talking about the bugs in our moral codes. Other friends have sent me videos of Eat, Pray, Love author Elizabeth Gilbert on the spiritual dimension of creativity; rocker David Byrne on how venue architecture affects musical expression; and UC Berkeley professor Robert Full’s insights into how geckos’ feet stick to a wall.

Each of these emails is like a membership card into the club of “TED talk people.” I love being a member of this club. The videos give my discovery-seeking brain a little hit of dopamine in the middle of the workday. But just as important, each one I see or recommend makes me part of a group of millions of folks around the world who have checked out these videos. What links us is our desire to learn; TEDsters feel part of a curious, engaged, enlightened, and tech-savvy tribe. Leer más “How TED Connects the Idea-Hungry Elite”