How to Improve Your Human Resource Management Skills
Monday 9 November 2009 @ 11:50 am

People management techniques are extremely important for business success. With a little effort you may acquire and develop these skills. It can be an advantage to have a natural affinity for communicating with people, but you can do some things to help the process. Build relationships: Addressing employees by name should be a start. Encourage conversation; get eye contact as you are speaking. Show respect, and be sure to be attentive to everything the other person says, irrespective of whether you agree or not. Developing listening skills is one of the greatest things you can do to better your talent management skills. Show interest in what they can offer the business. Live up to your word: Don’t give promises you won’t keep. When a promise is not kept, it will ruin trust, and people will not offer you their best efforts if they can’t trust you. When you say something or make a promise, ensure you can deliver or it would really be more sensible not to give your word at all. To be honest, if you can’t be depended on, you can be certain they will act in a similar manner.

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Be open to feedback: It’s a two-way street. Having an open mind with regard to other’s opinions is an important skill in effective talent management. Being approachable and open establishes that you value your co-worker’s ideas, and they will respect yours. Promoting open discourse also promotes fresh ways of doing business, ways of fulfilling the mission of the team, and develops the team. By giving the staff some input, every member of staff takes an interest in the project’s outcome. Communication is important: Communication is central to dealing with staff effectively. Maintaining an open door policy, listen attentively to other people, encourage feedback , and allow all your team members to express themselves. The team should be encouraged to communicate with one another as well as with you. The creative process relies heavily on the open exchange of ideas, if the team communicate well, it’s simple to recognize problems quickly, allowing corrective action to be implemented to prevent further problems. A little time and effort will be required, but the rewards far outweigh the work. By building the bonds of a good team and by taking on board what your employees have to offer, a thriving business will be yours.

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The SnG Twist
Monday 9 November 2009 @ 11:22 am

When talking about Sit n Go tournaments, it’s easy to get confused on the best way to play them when you compare them to multi table online poker tourneys. And by multitable tournaments I mean poker tournaments with more than 45 players. Anything below 5 tables can be considered a SnG by most standards.

In past articles we’ve talked about how to play a single or two table SnG by using a very tight form of play in the early rounds, loosening up a bit in the middle blind rounds, and using the Nash Equilibrium to either push or fold based on your reads of a player in the late rounds.

But let’s talk about the twist that you get when playing a poker online tournament that’s fairly small live. I’ve been frequenting smaller tournaments (those reserved for 2 or 3 tables) and have been trying to find a correlation on playing SnG online strategy and applying it to live games.

The midgame changes a little bit. In the midgame, you’ll want to be playing a little looser than you would be online. This is simply due to the nature of other players being more impatient than they are online since they’re not seeing as many hands. So you’ll be getting positive EV by calling with hands that have good showdown potential, and you’ll be trying to get to showdown as cheaply as possible unless you have a monster or the complete nuts.

Finally, in the late game, and this is why I titled this article the SnG twist, you’ll be tightening up again rather than using Nash to play your final hands. You see, the key to accumulating chips in a live SnG is during the middle game where the other players misunderstand the blind structure and what a viable chip stack is. You’ll see more pushes from unsuccessful players here than you will at the late game. And by the time you get to the late game, the chip stacks will be fairly high, and the player pool will be fairly low because of this. It’s not until the bubble play that you’ll loosen up again and start trying to either a) bully because you built a big stack during the mid game or b) build a viable stack if you didn’t have the opportunity to build during the mid game.

So you see, it just takes a small switch of style to successfully play a live SnG (or MTT if you consider 3 tables a MTT), and make the time you invest in each one +EV.

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E-Lottery & El Gordo Lotto — a Primer
Monday 9 November 2009 @ 8:22 am

A key part of the Euromillions Euro lottery is the Loteria de Elgordo which you may find it worthwhile to know more about. This lottery is well known for jackpots that can match the world’s biggest – payouts up to more than two and a half billion Euros. Nor is this the lottery’s only claim to fame! In this lottery the odds of winning something are an amazing one in six, and these prizes can be any of over 13,000 different amounts. These are actually stunning odds when viewed in the context of the majority of other international lotteries. There is one draw each month held by the Euromillions Euro lotto. But three months a year play host to bigger lotteries for grander prizes. Richest of all these drawings is the Christmas lottery, “Elgordo”, while the other two bigger lotteries are set for January – “El Nio” – and in summer (“San Ildefonso”).

Balls with numbers in a range between 00,000 and 84,999 are not what you expect to see from lottery systems, but the Elgordo lottery employs an unusual approach taking full advantage of them. During the draw a ball is selected from a bowl to find the winning number while a second is drawn from a second bowl to decide the value of the prize.

If you want to have a chance to win you can buy an entire ticket called a “serie”. You can also go for a cheaper option known as a “décimo”, valued at one tenth of a full ticket. Neither alternative is particularly cheap, however, and equally neither has better odds of being a winner. As a result many people playing the Elgordo lottery use the e-lottery system. Everyone’s assured of winning a prize if participating in the e-lottery system. Just buy into the Euromillions Euro Lotto syndicate and you’ll be pooled into teams. These teams are assigned an identifying number from 1-9, the last digit of the winning number in the draw being used to identify the team which will win the prize. A fair division of the prize amongst the team follows. Everyone renews their subscription for the draw the following month and the cycle begins again.

Some people are hesitant on hearing that they would have to share these big payouts. The thing to remember is there’s still plenty to go around when the total prize was 2.6 billion Euros. No reason for concern with this system – you’ll win a prize during each draw, and on top of that a place in the syndicate is the more affordable approach to playing. There is clearly no smarter way to play…

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