Latest economy and HR news

Latest economy and HR news

Europe’s largest economy is struggling

The Ger­man econ­o­my already shrank dur­ing the April-to-June peri­od of this year and now it is about to slip back into a neg­a­tive growth. Accord­ing to BBC, the Gross domes­tic prod­uct (GDP) of Europe’s largest econ­o­my fell by 0.1% com­pared with the pre­vi­ous quar­ter. “That takes the annu­al growth rate down to 0.4%”. As stat­ed by the Forbes Mag­a­zine the third quar­ter is expect­ed to offer a repeat per­for­mance of declin­ing out­put. If this hap­pens, Ger­many would offi­cial­ly be in a reces­sion, which is gen­er­al­ly defined as two back-to-back quar­ters of neg­a­tive growth. Ger­many just avoid­ed a reces­sion last year. Cur­rent­ly the gov­ern­ment doesn’t see any rea­son for fur­ther mea­sures to sta­bilise the econ­o­my as the fis­cal pol­i­cy of the Ger­man gov­ern­ment is already expan­sive. How­ev­er, econ­o­my min­is­ter Peter Alt­maier says that a reces­sion could be avoid­ed by tak­ing the right mea­sures.

Potential relationship between India and the U.S.

Accord­ing to CNBC, India could become a strate­gic part­ner for the U.S.. Although India’s econ­o­my is not as big as China´s , India is a rather large coun­try and has a rel­a­tive­ly robust econ­o­my. Last week’s meet­ing between U.S. Pres­i­dent Don­ald Trump and Indi­an Prime Min­is­ter Naren­dra Modi rais­es hope for a trade deal between those two coun­tries. A clos­er rela­tion­ship with India could poten­tial­ly have many upsides for the world’s largest econ­o­my. How­ev­er, the sit­u­a­tion has become tense over the sum­mer as the Trump admin­is­tra­tion end­ed pref­er­en­tial trade treat­ment for India that had allowed for up to $5.6 bil­lion worth of Indi­an goods to enter the coun­try duty free. In return, India raised tar­iffs on 28 Amer­i­can prod­ucts. These news were quick­ly dwarfed by the U.S.-China trade war.

How to take control over your career

Accord­ing to the Forbes Mag­a­zine 85% of work­ers say, they hate their job and see their job more as source of frus­tra­tion than ful­fil­ment. The rea­sons there­fore are that many peo­ple choose jobs based on salary alone or choose their careers based on the opin­ions of oth­ers. Oth­ers don’t even know what they want to do with their lives and end up work­ing wher­ev­er they get an oppor­tu­ni­ty to. Although this should not be the case. The next time you apply for a job you first need to find out who you real­ly are, and what you real­ly want to do, so your pur­pose and pas­sion can line up with the activ­i­ties that you’ll spend the next 10 years of your life doing. Con­sid­er­ing that most of the peo­ple spend the major­i­ty of their lives on mak­ing a liv­ing for them­selves and their fam­i­lies, this should be a “Wake Up Call” to dig deep­er and find a job you actu­al­ly enjoy. The Forbes Mag­a­zine there­fore pro­vides you with ques­tions to ask your­self. These will help you to enter the right career path.

How to give feedback to your employees

Most of our com­mu­ni­ca­tion on a work­day involves some kind of feed­back. Although most lead­ers are not very good at pro­vid­ing feed­back, it is nec­es­sary to give a per­son the oppor­tu­ni­ty to grow. Thus, pos­i­tive feed­back rein­forces good pat­terns and results. There­fore, the Forbes Mag­a­zine gives you a guide­line on how to give feed­back. First, feed­back is divid­ed into three dif­fer­ent types: direc­tive, explorato­ry and eval­u­a­tive feed­back . The eval­u­a­tive feed­back is the kind of feed­back, which is prob­a­bly most famil­iar to you, such as dis­cussing the infor­ma­tion in an annu­al per­for­mance review. One guide­line, which is described by the Forbes Mag­a­zine, would be “time it right”: “For feed­back to be effec­tive, it should be deliv­ered in a man­ner that allows the oth­er per­son ade­quate time to take in the infor­ma­tion and make the nec­es­sary adjust­ments and improve­ments”. Lead­er­ship should be about impact, influ­ence, inspi­ra­tion, and cre­at­ing an envi­ron­ment where feed­back is not only encour­aged and expect­ed, but also con­sis­tent­ly mod­elled by all lev­els of lead­er­ship.

 

Your feed­back is impor­tant to us! We hope the selec­tion of our arti­cles was inter­est­ing for you. Please let us know if you have any com­ments or ques­tions!

Your Glasford Inter­na­tion­al Deutsch­land Research and Ana­lyt­ics Team