Social media for hiring: Promises and pitfalls

Published : 12:00 am  September 29, 2014  |  Category: Ajantha Dharmasiri, Columnists  |  Leave a Comment  |  421 views  |  
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We looked at prospects of luring talent through social media last week. We identified social media as Social Network Websites (SNWs) such as Facebook, MySpace and the more professionally-oriented LinkedIn. Having discussed the origins and options, let’s focus on their promises and pitfalls in the context of hiring. This column is all about it.   Overview Based on extensive studies by Ross Slovensky and William H. Ross from the University of Wisconsin, there is an increasing trend of HR professionals using SNWs for hiring. This is in the broader context of ‘e-cruting,’ or the usage of internet for hiring decisions. According to Forrester Research Institute, 96% of all companies in... 


Central Bank’s Monetary Policy Review: Is there a hidden macroeconomic anomaly?

Published : 12:00 am  September 29, 2014  |  Category: Columnists, W. A. Wijewardena  |  8 Comments  |  7,299 views  |  
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The monthly monetary policy review The Central Bank issued its monthly Monetary Policy Review on 23 September 2014 (available at http://www.cbsl.gov.lk/pics_n_docs/02_prs/_docs/press/press_20140923e.pdf) Monetary Policy Review, September 2014). The statement has presented an analysis of developments which the Bank has identified as beneficial to Sri Lanka before announcing the policy change which it has introduced in the month. The coverage of the period relating to these developments has differed from one field to another perhaps due to the problem of non-availability of updated data. Accordingly, growth has been analysed pertaining to the first half of 2014. The developments relating to external... 


Uva effect and the presidency

Published : 12:00 am  September 27, 2014  |  Category: Columnists  |  6 Comments  |  1,256 views  |  
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Analysts, commentators and readers in general should check the results of the 1982 and 1994 presidential elections. Despite an 8% growth rate, the Mahaweli program, a five-sixth majority in parliament and the deprivation of Mrs. B’s civic rights, the legendary J.R. Jayewardene won only 52+% of the vote, in what is regarded as a great victory. Today in Uva the UPFA has registered only 1+% less than that performance of JRJ. Furthermore, the losing Opposition candidate Kobbekaduwa scored just under 40%. That is just 1+% less than the UNP got in Uva. In 1994, after 17 turbulent years, UNP candidate Srima Dissanayake, the traumatised yet courageous widow of assassinated UNP leader Gamini Dissanayake,... 


“We have to defeat Mahinda Rajapaksa”

Published : 11:28 am  September 26, 2014  |  Category: Chamitha Kuruppu, Columnists  |  10 Comments  |  1,760 views  |  
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“We have to defeat Mahinda Rajapaksa,” says Anura Kumara Dissanayake, the Leader of the Janatha Vimukthi Peramuna, asserting that the people in Uva have given a clear indication that the present regime can be easily defeated and therefore it is the responsibility of the Opposition to be united and fight to defeat the current leader. In an interview with the Daily FT, Dissanayake points out that the power-hungry Rajapaksa family is desperate for another term in office since they are not willing to give up on the lavish life they are currently enjoying. “There will be more violence and more abuse of power because the Rajapaksas’ future rides on this election,” he added. Following are... 


Growth plan without social objectives is like an egg without salt

Published : 11:21 am  September 26, 2014  |  Category: Columnists  |  2 Comments  |  343 views  |  
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Chamber Economic Summit At the recent Chamber summit, two leading apostles of the ‘Mahinda Chinthana,’ the Governor of the Central Bank and the Secretary of the Ministry of Finance, made excellent presentations. They were very complimentary of each other. The Governor said they were like batsmen rotating the strike. It was so different from the past, when it was more fun listening to them as they were kicking each other under the table. The new brotherly spirit is of course good for the country.   Economic performance They set out in great detail the very impressive economic achievements. All the key indicators were good. GDP growth was impressive, debt to GDP was moving in the right... 


Challenge of getting more women into leadership roles

Published : 12:52 am  September 25, 2014  |  Category: Columnists, Dinesh Weerakkody  |  4 Comments  |  872 views  |  
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Today despite all the hype, at the top, only 24 of the Fortune 500 CEOs are women, which is less than 5%. In Sri Lanka going by the Business Today Top Twenty Five Rankings for 12/13, it is less than 1%, which is clearly not a productive economic outcome. Socially, most business leaders want to treat gender equally and be gender-neutral when picking people for key jobs. It is the right thing to do. But, women are often and have historically been disadvantaged in those choices and not given an equal chance for those jobs. This situation could be due to the following; nWoman may not have had the experiences, training, or skills… because they were not in the workforce for a long period when compared... 


‘Man of the match’

Published : 12:10 am  September 25, 2014  |  Category: Columnists, Dharisha Bastians  |  9 Comments  |  2,863 views  |  
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Never before has a winning party licked its wounds so defensively. Never before has a losing side been so jubilant in defeat. The Uva provincial election will be epoch-making in more ways than one. But for bringing his party back with a fighting chance, it is young Harin Fernando who should take the biggest bow. There is poetry surrounding discussions about the outcome of the Uva Provincial election in political circles. To begin with, there is poetry in the name: Uva-Wellassa, land of a hundred thousand rice fields, granary of the Kandyan kingdom, refuge of freedom fighters. The 1817 Uva rebellion was waged so ferociously against British rule that after the uprising was quelled, the colonial... 


Do not cry for us, Sri Lanka

Published : 12:07 am  September 25, 2014  |  Category: Ajith de Alwis, Columnists  |  2 Comments  |  606 views  |  
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Apologies to Evita, Lloyd Webber, Tim Rice, etc., but you did really make Argentina famous through the line which I have paraphrased. Even though the initial view of placing Argentina to be a damper in the lyrics, this really did not happen and the song did its rounds and still does! Why ‘us’ instead of ‘me’ and what is the difference here? I am looking at the broader human resource issue in Sri Lanka, looking at it personally as well as collectively. Education, both formal and informal, is well connected to human resource development and consequently the nation. One can almost say that we do not have a strong education system today as sports and functions have taken over the time available... 


The fiasco at Tesco, and value of accountants and independent interim limited scope engagements

Published : 12:00 am  September 24, 2014  |  Category: Columnists  |  1 Comment  |  1,042 views  |  
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A colleague in the profession, now working in the UK, alerted me on Monday (22) morning, to a news item which she said was in the public domain. She did so because of its relevance to what I had discussed with her, more than a decade ago, articulating the value of inviting independent professionals/external auditors to perform reviews of interim financial statements, before they are released to the public. These are ordinarily undertaken as limited scope engagements, to add strength to, even a perceived to be robust, in house accounting and reporting infrastructure. Limited scope – non-opinion – engagements Having functioned as a Manager of Deloitte overseas while in my audit years, I had... 


Sri Lanka’s hub strategies reassessed

Published : 12:00 am  September 24, 2014  |  Category: Columnists  |  2 Comments  |  769 views  |  
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A hub is the central part of a wheel, rotating on or with the axle, and from which the spokes radiate Back in early 2010, I wrote about the hubs that were central to the UPFA election manifesto. At that time, the hub strategy was simply words in a manifesto. Four years later it is possible to assess progress and see what changes are needed. Colombo is at present India’s second largest container port, with more than 70% of its volume being Indian transhipment traffic. With the opening of the region’s only deep-water facility in 2013, its position as a maritime hub was strengthened. Yet, the Colombo Port’s role in the Indian transport system is not recognised in the NTPDC Report, in contrast... 


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