Tag: human resources

Don’t underestimate the importance of experience!

On By LS HIn Career, Human ResourceLeave a comment

You may have read this story on social media…

A ship engine failed, NO ONE could fix it.

Then they brought in a man with 40years of ship repair experience. He inspected the engine carefully. Then he reached into his bag & pulled out a small hammer. He gently tapped a particular spot at the engine. Immediately, the engine rocked to life. It was fixed!

A few days later, the owner of the ship received the bill for this repair, amounting to $10,000. “What?!” the owner exclaimed. “He hardly did anything”. So, he requested for an itemised bill. The man sent in the itemised bill as follows:

  • Tapping with hammer – $ 10
  • Knowing where to tap – $ 9,998

Obviously the story is greatly simplified and no one fixes engines with just a tap of the hammer. But in this fast-paced, fast-promotion, high expectation and highly impatient generation, we really should not forget that there is a place for experience.

With the retirement age being extended and many people working beyond retirement, the work place is a complex multi-generation environment. Managers need to be able to navigate this carefully to maintain harmony in the workforce, leverage the youthful energies and tapping on the wisdom that older employees bring to the table. That also requires experience!

The value of values in economic growth

On By LS HIn Business Fundamentals, Economy, Human Resource, ValuesLeave a comment

When countries pursue economic growth at all costs, they will soon find themselves “without a soul”. Hence, I find this article so appropriately put – the value of values in economic growth. When economic growth is experienced embracing values, the social fabric of the country remains strong. The same will be true for companies. Growth should never be at the expense of values. Check out this article.

Will all future retail stores be like this?

On By LS HIn Business Fundamentals, Economy, Human Resource, InnovationLeave a comment

This convenience store managed by Cheers has no cashier and no check-out counter. You register your faceID, visa payment card and start shopping. Sensors in the store will keep track of your presence in the store and the items you scan upon purchase. When you leave the store with those items, your credit card will be charged accordingly. Is this the future of retail? Interesting times!

From banker to hawker – a bold career switch!

On By LS HIn Career, Human Resource, ValuesLeave a comment

This is a story of a 40 year old lady who took the leap of faith to transition from being a banker to a hawker selling Singapore fried radish and noodles. Why? In her own words, there were office politics and the constant chasing after numbers – something she did not want to continue in her 40s & 50s. At the end of the day, she preferred to derive her own P&L – deciding how much revenue she wants and how to manage costs. I salute her for the likely pushbacks she must have experienced from friends and relatives. Being a hawker is an honest profession deserving of our commendation. Keep it up!