Understanding The Pareto Principle (The 80/20 Rule)

Originally, the Pareto Principle referred to the observation that 80% of Italy’s wealth belonged to only 20% of the population.

More generally, the Pareto Principle is the observation (not law) that most things in life are not distributed evenly. It can mean all of the following things:

  • 20% of the input creates 80% of the result
  • 20% of the workers produce 80% of the result
  • 20% of the customers create 80% of the revenue
  • 20% of the bugs cause 80% of the crashes
  • 20% of the features cause 80% of the usage
  • And on and on…

Understanding The Pareto Principle

 
Australian Graduate Survey

The Graduate Careers Australia provides a list of Australian Graduate Survey (AGS). The newest edition (2007) is a highly informative guide about the graduate "landscape".

Australian Graduate Survey

 
Writing A Brilliant Resume

Your resume is what can potentially get you an interview, and thus a job. There is no easy way about it - if you want to write a good resume you will have to do some research on how to write a brilliant resume.

We have compiled the following resources which are an excellant starting point

Writing A Brilliant Resume

 
Insights for increasing talent management effectiveness

A Corporate Leadership Council report, based on extensive analysis of data from more than 150,000 employees in more than 200 organizations around the world, presents the chief human resources officer with 10 insights for increasing talent management effectiveness:

Insights for increasing talent management effectiveness

 
It's no good concentrating all efforts on employee retention

All the statistics show that the substantial efforts to improve employee retention give only marginal results. For organisations to actively support a flexible labour market and then try to reduce jobs churn at the same time is like shouting into the wind.

It's no good concentrating all efforts on employee retention

 
Personal Interactions Matter

Last week's news highlighted the different variations of the Facebook story. It is widely believed that Facebook could be responsible for a loss of $5 billion to businesses, as productive work hours turn into time spent updating profiles and connecting with friends and colleagues across the globe.

In many companies across Australia and New Zealand, Facebook is fast being added to the list of sites on the 'banned' list, joining MSN Messenger, MySpace, YouTube and Second Life, which are also considered addictive, distracting and a drain on productivity.

Can limiting access prove to be a productivity drain in itself?

Personal Interactions Matter

 
Excuse Me, Have We Met?

According to the Harvard Business Review (Feb, 2007), self-awareness has just been recognized as the most important capability for leaders to develop. I would add that this is a quality that is beneficial for anyone to develop. After all, we are all leaders somewhere in our lives aren't we? Emotions can play an important role in our careers, education, at home, in our community, and in all our relationships.

Ever find that you get upset easily or fairly regularly? Maybe you feel overwhelmed most of the time, stressed out, or even tired?

Excuse Me, Have We Met?