by Fronetics | Jan 7, 2014 | Blog, Leadership, Strategy, Talent
how to hire a leader
Businesses don’t fail, leaders do – a lot. Studies have shown that the rate of failure of executives coming into new companies ranges from 30 to 40 percent after 18 months. The costs and implications of a poor leadership hire are enormous. Given the odds, how can you hire a leader – a true leader? Here are five tips:
Ask the right question
Just one interview question can give you enormous insight into the abilities and qualifications of the candidate. The question: “Tell me about the last person you fired.” According to Marc Barros, co-founder and former CEO of Contour, this question and the discussion that will follow will give you the “strongest indicator of the candidate’s leadership ability.” Specifically, the candidate’s response will shed light on their communication style and skills, their willingness and ability to admit mistakes, and the candidate’s level of empathy and emotion.
Conduct your own due diligence
When it comes to finding the next leader for your company, don’t leave due diligence in the hands of someone else. Take the time to learn about the candidate, talk to people who have worked with the candidate in the past, and gather as much information on the person as you can.
Go beyond the typical interview
Going beyond the typical interview is revealing in that enables you to see the candidate outside of the canned interview environment (an environment which many have mastered). Some ideas: have the candidate give a presentation, facilitate a meeting, or write up their thoughts on how to tackle a specific problem.
Opinions matter
Have the candidate meet with employees of various positions and levels within the company. After each person meets with the candidate get their feedback – and listen. It is amazing how often a candidate will let their guard down when they perceive they are meeting with someone that “doesn’t matter.” The truth is that these meetings do matter as they can provide you with some of the best insight into the candidate and their leadership style.
Hire from inside
When you hire from inside your company, you will get a leader who knows how to succeed in the company’s culture.
by Fronetics | Jan 7, 2014 | Blog, Leadership, Strategy, Talent
how to hire a leader
Businesses don’t fail, leaders do – a lot. Studies have shown that the rate of failure of executives coming into new companies ranges from 30 to 40 percent after 18 months. The costs and implications of a poor leadership hire are enormous. Given the odds, how can you hire a leader – a true leader? Here are five tips:
Ask the right question
Just one interview question can give you enormous insight into the abilities and qualifications of the candidate. The question: “Tell me about the last person you fired.” According to Marc Barros, co-founder and former CEO of Contour, this question and the discussion that will follow will give you the “strongest indicator of the candidate’s leadership ability.” Specifically, the candidate’s response will shed light on their communication style and skills, their willingness and ability to admit mistakes, and the candidate’s level of empathy and emotion.
Conduct your own due diligence
When it comes to finding the next leader for your company, don’t leave due diligence in the hands of someone else. Take the time to learn about the candidate, talk to people who have worked with the candidate in the past, and gather as much information on the person as you can.
Go beyond the typical interview
Going beyond the typical interview is revealing in that enables you to see the candidate outside of the canned interview environment (an environment which many have mastered). Some ideas: have the candidate give a presentation, facilitate a meeting, or write up their thoughts on how to tackle a specific problem.
Opinions matter
Have the candidate meet with employees of various positions and levels within the company. After each person meets with the candidate get their feedback – and listen. It is amazing how often a candidate will let their guard down when they perceive they are meeting with someone that “doesn’t matter.” The truth is that these meetings do matter as they can provide you with some of the best insight into the candidate and their leadership style.
Hire from inside
When you hire from inside your company, you will get a leader who knows how to succeed in the company’s culture.
by Fronetics | Dec 30, 2013 | Blog, Leadership, Strategy, Talent
career resolutions
After the ball has dropped and after the champagne has been drunk, the New Year will begin. Forty-five percent of Americans will start the New Year with at least one resolution. Whether or not you are typically a resolution-maker, the New Year is a great time to evaluate your career and set goals.
Here are nine career resolutions everyone should make.
Get out of dodge
If you are miserable in your job take the time to sit down and determine why you are unhappy. If you are unhappy with your current position but you like your company, reach out to your boss and/or HR and determine if there is another position within the company that would be a better fit. Finding a new opportunity within your current company is often easier and quicker than finding an opportunity at a new company. However, if your current company is not a good fit or if there are no growth opportunities, find a new job. Just like there are other fish in the sea, there are other jobs out there.
If you decide it is time to find a new job, use all tools at your disposal. For example, network, brand yourself, use a recruiter, and/or work with an executive search firm.
A word of caution – find a new job before you quit your current job. Finding a job can take time.
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Network, network, network
I recently wrote about the importance of networking and quoted Kathryn Minshew, founder and CEO of The Muse and The Daily Muse. who offered this sage advice: “Network Your Face Off.”
Why network? A recent study found that a 50 percent increase in network size accompanies a 3.8 percent increase in salary with respect to the average. Studies have also found that the majority of jobs (between 49 percent and 80 percent) are landed through networking. Networking also brings opportunities that benefit and feed your career, professional development, and personal interests. What’s more, networks make you happier and smarter.
Brand yourself
Like it or not, you are a brand. First impressions are no longer face to face. Rather, first impressions are now comprised of information which can be gathered via a quick search of the Internet. A first impression can be, for example, inclusive of your LinkedIn and Facebook pages, your personal blog, your Instagram page, your Twitter account, your Klout score, your pins on Pinterest, and anything else that may have made itself onto the Internet. Because of this, that 7 seconds you used to have to make a first impression when you enter the room is gone – chances are that the first impression was made long before you arrived. The reality is that when you walk into that room you are likely being evaluated against the first impression that was made prior to your arrival.
If you want to be successful you need to take steps to build and enhance your brand.
Work for someone smart
Dara Khosrowshahi, CEO, Expedia, Inc., believes that there is one constant: great, smart people stay great and smart. Because of this he recommends “find[ing] the smartest and most competent person around you and work[ing] for that person. It doesn’t matter if the move is lateral, down or up. Just get yourself working for that great person. Don’t ask for much; just work your ass off.” Why? Khosrowshahi points out that by doing this you will learn a lot, be challenged, and you will grow both as a person and as a professional. Moreover, “smart people tend to get promoted. When they get promoted, you’ll tend to follow them as they rise in the ranks (assuming you’ve done a great job).”
Optimize for the next 1 to 2 years
Don’t get hung up on mapping out a five or 10 year career plan. Instead, optimize for the next one to two years. Khosrowshahi, again, offers words of wisdom: “Look for the right opportunities, stay flexible, have some idea of what direction you are headed in, but don’t lock into a long-term direction because chances are that the world will change up on you.”
Get active
Exercise not only improves your health, but research has also found that a regular exercise routine can make you happier, smarter, and more energetic.
And interested in a leadership position? The Wall Street Journal reported that data compiled by Center for Creative Leadership found that “Executives with larger waistlines and higher body-mass-index readings tend to be perceived as less effective in the workplace, both in performance and interpersonal relationships.”
Try something new
Not only is the world always changing, but there is also a big bog world out there – a world full of opportunity. Look at the technology used by your colleagues and your competitors. Is there something they are using that you aren’t? LinkedIn or Twitter for example. What about something new and exciting outside of the office? Is it time to give skydiving a try?
Trying something new requires courage. You will find that courage begets courage. You may also find something new you enjoy.
Work-life balance
Research by the Families and Work Institute found that 55 percent of respondents reported feeling overwhelmed with the sheer amount of stuff on their plate. A survey conducted by Monster found that 80 percent of respondents are not happy with their work-life balance.
Are you happy with your work-life balance? If you are not, take stock of what is on your plate. Write a list of your priorities. What can you eliminate, shift, or even outsource to find better balance?
Take a vacation
57 percent of American’s don’t take their vacation time. Each year there are 175 million vacation days which American workers are entitled to which are not taken.
Taking time off is important to both your mental and physical health. Taking time off is also has a positive impact on work performance and productivity. For example, a 2011 Harvard Medical School study found that sleep deprivation costs American companies $63.2 billion a year in lost productivity. Ernst & Young offers another example. In 2006 the company conducted an internal study of its employees and found that for each additional 10 hours of vacation employees took, their year-end performance ratings from supervisors (on a scale of one to five) improved by 8 percent. What’s more – retention rates were significantly higher among vacationers.
by Fronetics | Dec 30, 2013 | Blog, Leadership, Strategy, Talent
career resolutions
After the ball has dropped and after the champagne has been drunk, the New Year will begin. Forty-five percent of Americans will start the New Year with at least one resolution. Whether or not you are typically a resolution-maker, the New Year is a great time to evaluate your career and set goals.
Here are nine career resolutions everyone should make.
Get out of dodge
If you are miserable in your job take the time to sit down and determine why you are unhappy. If you are unhappy with your current position but you like your company, reach out to your boss and/or HR and determine if there is another position within the company that would be a better fit. Finding a new opportunity within your current company is often easier and quicker than finding an opportunity at a new company. However, if your current company is not a good fit or if there are no growth opportunities, find a new job. Just like there are other fish in the sea, there are other jobs out there.
If you decide it is time to find a new job, use all tools at your disposal. For example, network, brand yourself, use a recruiter, and/or work with an executive search firm.
A word of caution – find a new job before you quit your current job. Finding a job can take time.
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Network, network, network
I recently wrote about the importance of networking and quoted Kathryn Minshew, founder and CEO of The Muse and The Daily Muse. who offered this sage advice: “Network Your Face Off.”
Why network? A recent study found that a 50 percent increase in network size accompanies a 3.8 percent increase in salary with respect to the average. Studies have also found that the majority of jobs (between 49 percent and 80 percent) are landed through networking. Networking also brings opportunities that benefit and feed your career, professional development, and personal interests. What’s more, networks make you happier and smarter.
Brand yourself
Like it or not, you are a brand. First impressions are no longer face to face. Rather, first impressions are now comprised of information which can be gathered via a quick search of the Internet. A first impression can be, for example, inclusive of your LinkedIn and Facebook pages, your personal blog, your Instagram page, your Twitter account, your Klout score, your pins on Pinterest, and anything else that may have made itself onto the Internet. Because of this, that 7 seconds you used to have to make a first impression when you enter the room is gone – chances are that the first impression was made long before you arrived. The reality is that when you walk into that room you are likely being evaluated against the first impression that was made prior to your arrival.
If you want to be successful you need to take steps to build and enhance your brand.
Work for someone smart
Dara Khosrowshahi, CEO, Expedia, Inc., believes that there is one constant: great, smart people stay great and smart. Because of this he recommends “find[ing] the smartest and most competent person around you and work[ing] for that person. It doesn’t matter if the move is lateral, down or up. Just get yourself working for that great person. Don’t ask for much; just work your ass off.” Why? Khosrowshahi points out that by doing this you will learn a lot, be challenged, and you will grow both as a person and as a professional. Moreover, “smart people tend to get promoted. When they get promoted, you’ll tend to follow them as they rise in the ranks (assuming you’ve done a great job).”
Optimize for the next 1 to 2 years
Don’t get hung up on mapping out a five or 10 year career plan. Instead, optimize for the next one to two years. Khosrowshahi, again, offers words of wisdom: “Look for the right opportunities, stay flexible, have some idea of what direction you are headed in, but don’t lock into a long-term direction because chances are that the world will change up on you.”
Get active
Exercise not only improves your health, but research has also found that a regular exercise routine can make you happier, smarter, and more energetic.
And interested in a leadership position? The Wall Street Journal reported that data compiled by Center for Creative Leadership found that “Executives with larger waistlines and higher body-mass-index readings tend to be perceived as less effective in the workplace, both in performance and interpersonal relationships.”
Try something new
Not only is the world always changing, but there is also a big bog world out there – a world full of opportunity. Look at the technology used by your colleagues and your competitors. Is there something they are using that you aren’t? LinkedIn or Twitter for example. What about something new and exciting outside of the office? Is it time to give skydiving a try?
Trying something new requires courage. You will find that courage begets courage. You may also find something new you enjoy.
Work-life balance
Research by the Families and Work Institute found that 55 percent of respondents reported feeling overwhelmed with the sheer amount of stuff on their plate. A survey conducted by Monster found that 80 percent of respondents are not happy with their work-life balance.
Are you happy with your work-life balance? If you are not, take stock of what is on your plate. Write a list of your priorities. What can you eliminate, shift, or even outsource to find better balance?
Take a vacation
57 percent of American’s don’t take their vacation time. Each year there are 175 million vacation days which American workers are entitled to which are not taken.
Taking time off is important to both your mental and physical health. Taking time off is also has a positive impact on work performance and productivity. For example, a 2011 Harvard Medical School study found that sleep deprivation costs American companies $63.2 billion a year in lost productivity. Ernst & Young offers another example. In 2006 the company conducted an internal study of its employees and found that for each additional 10 hours of vacation employees took, their year-end performance ratings from supervisors (on a scale of one to five) improved by 8 percent. What’s more – retention rates were significantly higher among vacationers.
by Fronetics | Dec 24, 2013 | Blog, Leadership, Logistics, Strategy, Supply Chain
Thank you: Two Powerful Words
I have two young children. One of the values in which I am trying to instill is that of graciousness. A couple weeks ago I sat down with my daughter so that we could write thank you notes for the gifts she received for her third birthday. My five-year old sauntered by and made the comment that what we were doing was: “just plain silly because no one else ever writes thank you notes.” He got part of it right – very few people do write thank you notes. What he didn’t get right is the silly part. Taking the time to say thank you and show appreciation is not silly and is not passé. Rather, taking the time to say thank you is critical not only to your success, but also to your well-being. “Thank you;” two powerful words.
Research published in the Journal of Personality and Social Psychology found that a mere “thank you” more than doubled the likelihood that those providing help would provide assistance again. The research also found that a ‘thank you” yielded an increase of 50 percent in terms of productivity and an increase of 15 percent in the average amount of time a person spent providing assistance. The researchers also noted a spill-over effect. That is, gratitude begets gratitude.
Why is a simple “thank you” so powerful? The researchers found that expressions of gratitude increased feelings of both self-efficacy and social worth. They also found that it is the feeling of being socially valued more than the feeling of competence that encourages people to provide more help in the future. In short, people like being acknowledged and valued for our efforts.
While there is rationality at play here, Peter Bregman, CEO of Bregman Partners, Inc., believes “[S]aying ‘thank you’ is mostly an emotional act. It connects one person to another. Saying ‘thank you’ doesn’t just acknowledge someone’s effort, thoughtfulness, intent, or action. It acknowledges the person himself.” Why does this matter? Because, Bregman continues: “Acknowledging each other is our basic responsibility as human beings living in community with other human beings.” Mary Kay Ash, cosmetics entrepreneur, puts it another way: “There are two things people want more than sex and money: recognition and praise.”
Acknowledgement, recognition, praise, expressions of gratitude – what is incredible is that these don’t need to be achieved via an extravagant and expensive gift, rather they can be achieved, for free, with two words – “Thank you.”
In an article on the value of networking Kathryn Minshew, founder and CEO of The Muse and The Daily Muse, calls attention to the fact that people are more likely to give opportunities to those who are most in their recent memory. Given this, she offers the following advice: “Be the person they saw yesterday as often as possible.” What Minshew leaves out is that that last memory needs to be a positive one. A simple and effective way to leave a positive memory – say, write, or type “thank you.”
Robert Eckert, former chairman and CEO of Mattel, offers the following tips on expressing thanks within the workplace:
- Set aside time every week to acknowledge people’s good work.
- Handwrite thank-you notes whenever you can. The personal touch matters in the digital age.
- Punish in private; praise in public. Make the public praise timely and specific.
- Remember to cc people’s supervisors. “Don’t tell me. Tell my boss.”
- Foster a culture of gratitude. It’s a game changer for sustainably better performance
- Acknowledgement, recognition, praise, a simple “thank you.”
I offer up a challenge to you. Over the next week take the time to say thank you, to acknowledge others, to praise, and to show your appreciation. My guess is that you will be both surprised and impressed by what and where two little words will get you – so much so that you’ll make thank you second nature.
