07 important takeaways from this lecture:
00:00:51 Traditional work is when you clock in at a precise time and work, and then clock out at a precise time and go home. Modern work has become a blend between private and professional life.
00:02:00 Employee surveys are there to help the company understand how they can improve their employee’s work experience.
00:06:01 Ideas are crucial to competitive differentiation through innovation, yet studies show that people have their best ideas outside of their original workspace, namely in environments and situations where they are the most comfortable.
Then it goes to follow that employees should be paid for their ideas rather than being paid for their working hours.
00:11:24 Scheduled working hours are necessary when employees’ productivity are tied to machines which cannot be removed from the company’s workspace – such as pilots, cashiers, lecturers, etc. The higher up your position, the more your job reponsibilities are to think and to communicate, which is something that can be done everywhere.
00:15:55 Specific jobs dictate specific working hours models. Working hours models outline when you work, how much you work, and how much flexibility you have in the process.
[EDITOR’S NOTE: Even with completely inflexible working hours models, it is possible to optimize your own time to create your own level of flexibilty. For more, read the books The Four Hour Work Week by Tim Ferriss and The Rules Of Work by Richard Templar.]
00:23:00 Your company’s leadership culture, level of trust in your employees, and labor laws are three extremely important things that determine how flexible your company’s working hours model is. From a legal point of view when it comes to labor laws, it’s advised to track your employees’ working hours even if their compensation is performance-based. Having this information may help you avoid lawsuits should someone claim that you were forcing them to work unpaid overtime, etc.
00:24:28 If you’re company and industry suffers from a talent shortage, then you must do what you must to attract qualified candidates.
[EDITOR’S NOTE: For more information on talent shortage, watch the video Human Resources Management: Attracting & Selecting The Best Candidates.]