by Fronetics | Nov 17, 2016 | Blog, Leadership, Strategy
A look at the world’s top business leaders show they possess both financial savvy and personal acumen.
We measure today’s top business leaders on a variety of scales, including personal acumen and their company’s financial performance. Regardless of how a leader is gauged, one thing is clear: 21st century leaders must have strong engagement and stellar interpersonal skills on multiple fronts — from the numbers to corporate responsibility to how to best motivate employees.
The Harvard Business Review suggests the world’s best-performing CEOs share three crucial traits: long-term thinking, short-term savvy, and a relentless focus on employees. HBR’s annual data-driven annual survey of top CEOS in the world weighs companies with an 80/20 formula — 80% based on financial performance, and 20% based on ESG (environment, social, and corporate governance performance).
The top leaders, by the numbers
The tension between short- and long-term decision-making affects top leaders’ financial performance, since overall strength is not based on a single positive financial quarter, HBR reports, but rather the cumulative effect of consecutive strong quarters.
“They really are running today’s business while trying to create tomorrow’s business,” Dan McGinn, senior editor at Harvard Business Review, said in a recent podcast about how CEOs manage the challenges of focusing on long- and short-term growth of business. “They’re dealing with a very fast-changing global landscape.”
The top three business leaders in HBR’s survey — Lars Rebien Sorenson of Novo Nordisk, Martin Sorrell of WPP, and Pablo Isla of Inditex — all had different paths to the top, although 84% of CEOs are promoted from within. Only 24% of HBR’s top leaders have an MBA, signaling that the coveted business degree is not integral to becoming a top leader. Of note is that only one of the top 10 HBR leaders is from the United States — Jen-Hsun Huang of Nvidia — because of the generally lower ESG numbers for U.S.-based companies, McGinn said in the podcast. None of the top 10 are women.
The metric commonly referred to as “Corporate Responsibility,” ESG importance is rising in the United States, but is still outpaced by European companies. This is only the second year that the HBR survey included ESG, which resulted in Amazon CEP Jeff Bezos dropping from the top 10 to number 76 on HBR’s list.
According to a recent study by Callan Associates Inc., 29% of U.S.-based asset owners incorporate ESG risk factors into their investment decisions, up from 22% in 2013. This demonstrates the small but growing role of ESG.
Focus on millennials
In addition to being on top of the ever-changing socio-political world, top business leaders may have to consider a shift in their corporate culture because of the rising number of millennials in the workforce.
Forbes estimates that by 2020, millennials will comprise nearly 50% of the workforce. Successful business leaders need to know how to best motivate and manage this workforce segment who, according to HBR’s McGinn, have different sets of values and different ways of thinking about their careers. Companies today have to adapt their culture to this growing part of the workforce, he says.
Leadership traits that stand the test of time
Industrialist Andrew Carnegie, often credited with being one of the world’s most successful business leaders, met with journalist Napoleon Hill early in the 20th century to relay what would become his “31 Traits That All Business Leaders Have,” a guidepost for those looking to follow in Carnegie’s footsteps.
The personality traits, although more than 100 years old, are still relevant in today’s business world.
Hill published two books that included Carnegie’s traits: Think and Grow Rich (1937), and Think Your Way to Wealth from 1948. He posited that top traits of great leaders include:
- Having a company purpose and a plan for attaining it
- Being motivated
- Coordinating efforts with talented workers
- Being disciplined, persistent, creative and decisive
- Being diplomatic and tactful, enthusiastic and likable
- And treating others with respect
The top traits have stood the test of time and, mixed with the significance of today’s financial and corporate responsibility, create the ideal 21st century business leader.
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by Jennifer Hart Yim | Oct 24, 2016 | Blog, Strategy, Supply Chain, Talent
Millennials have a reputation for being lazy and feeling entitled — but what if we got it all wrong?
This guest post comes to us from Argentus Supply Chain Recruiting, a boutique recruitment firm specializing in Supply Chain Management and Procurement.
For the past few years, there’s been a glut of articles about the millennial generation in the workforce. These articles originally focused on how millennials’ perceived laziness and entitlement kept them from securing long-term employment. Coincidentally (or maybe not) these articles first started popping up around 2009-2010, when the great recession made for the toughest jobs climate in decades, especially for young people trying to find their first good jobs out of university — a difficult task for most grads even in a boom economy. Over time (as the economy improved and millennials’ ranks in the workforce began to swell), these millennial-focused articles shifted to discussions of what makes millennials “difficult” to work with. There are a few negative stereotypes that tended to come out of this analysis:
- Millennials ask for raises and promotions constantly.
- Millennials hop around from job to job with little loyalty to their employers.
- Millennials always want to take more vacation time than their superiors.
Of course these stereotypes (like most stereotypes) don’t actually hold up to scrutiny. And in the past couple years it seems as if the business press has finally caught on to the fact that millennials are fitting in and thriving in working culture. Now, companies recognize that this generation offers unique advantages to employers. Millennial-focused analysis has shifted to talking about millennials’ good qualities, including being creative, highly proficient with technology, and excellent multi-taskers.
What millennials aren’t doing
What it comes down to is that companies are now fighting over millennial talent. They’re trying to do all they can to get the star performers to the table. On this topic, we read an interesting piece in the Toronto Star recently — just the latest in the long history of millennial thinkpieces — that bats down one of the nastiest stereotypes about millennial workers. It discusses how new research shows that millennials actually take less vacation than other employees, and tries to tease out the implications of how a seemingly-more “casual” working environment can lead to a chained-to-your-desk working culture.
Interesting stuff.
The article, titled “Millennials Can’t Afford to Keep Skipping Vacation,” discusses the phenomenon of millennial “work martyrs” — people who are afraid to take time off, even if that time off is paid vacation mandated by employment contracts. It cites research from the non-profit U.S. Travel Association that millennials take much, much less time off than stereotypes would dictate. (We should mention that, over the past 15 years, the use of paid vacation days has fallen off a cliff among a lot of different age groups). At Argentus, we try to stay abreast of whatever’s happening in the world of work, so it’s interesting to us think through issues like this.
So what are the implications of this trend?
The article echoes a lot of anxieties about 21st-century white-collar working culture more generally: that in our hyper-connected world, employees are expected to be always working, even when they’re not in the office. Companies reward people based on time commitment rather than productivity. Vacation time might be generously apportioned, or even unlimited, but workers don’t necessarily feel like they can take vacation. The Star article cites an interesting case: in 2015, Kickstarter began offering unlimited paid vacation, but the result was that actual time off taken went down. It appears that workers, especially millennials who are often working more junior, more precarious jobs, won’t take time off unless you tell them to.
Whether this plays out in every company, anxieties about these changes in the workplace are real: They illustrate the importance of work/life balance, which, despite being a buzzword, is also a real concept that pays dividends for employers. Employees who take vacations are not only happier, they’re more productive.
The solution? Maybe companies should start enforcing paid time off instead of rewarding workers who adopt a “work martyr” mentality.
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by Fronetics | Jul 28, 2016 | Blog, Diversity, Leadership, Logistics, Strategy, Supply Chain
In an interview with Kate Lee, Saunders discusses her career in the logistics industry and key issues within the supply chain.
Kelli Saunders is president of Morai Logistics.
The percentage of female CEOs in the Fortune 500 declined from 4.8% in 2015 to 4.2% in 2016. Canada, too, has realized a decline: 8% of the highest-paid executive positions are held by women, down from 8.5%. Research conducted by Gartner in April 2016 finds that for the supply chain industry, “the percentage of women in leadership positions decreases as the corporate ladder rises.”
It was a “fluke” that Kelli Saunders found the supply chain industry. More than 30 years later, Saunders is president of Morai Logistics Inc., an Authorized Agent of Mode Transportation. I sat down and talked with Saunders about her career and her perspective on women within the supply chain industry.
How did you find the supply chain industry?
It was a fluke. I was just out of college and needed a job. I found an ad in our local paper for a telemarketer, and I applied. I was hired as a telemarketing supervisor for a Canadian intermodal marketing company (IMC).
The man who owned the company focused on his employees. He taught us how to read a balance sheet and an income statement. He taught us the difference between added value and value added. And he taught us the industry. He had us climbing into trucks and railroad yards so that we could truly understand the industry.
When his wife sadly passed away, he decided to sell the company. He allowed six of us to become majority shareholders.
Fast forward sixteen years. The company has been bought and sold many times. I’ve stayed with the company through this process. Each time the company changed hands, my role changed, exposing me to different aspects of the business. Six years ago I bought the company back and now serve as president.
Your first boss sounds like he was a pretty incredible person.
He was. And now it is my turn. It’s my turn to give back.
I am a big believer in millennials. Their energy is contagious. I strive to be a mentor to them, and to let them know that they can dream big.
You’ve been in the industry for more than 30 years. What changes have you seen?
The industry is becoming more diverse, and more women are entering the industry. That being said, there is a still a long way to go. A big challenge is getting women and minorities to recognize that the supply chain industry is an option.
Tell me more about this.
Women don’t seem to recognize that there are incredible opportunities in the supply chain industry. The industry needs to do a better job at sharing what is happening — what the industry is all about. People think it is dull and boring; it’s not.
The supply chain industry is not just about getting things from point A to point B. The industry is an entire sophistication of infrastructure. There are so many aspects that we take for granted. Streamlining the chaos within the industry is incredibly rewarding.
How can this problem be addressed?
We need to get out and talk to more people. We need to go into the schools; we need to make connections and have conversations. Companies need to share their stories more widely. It is all about getting the word out there.
What advice do you have for people who do enter the industry?
Surround yourself with the best of the best. This is true when it comes to your colleagues, your employees, your vendors, your clients — everyone. This not only makes life more enjoyable, it has an impact on the bottom line.
Interestingly, 75% of the staff at Morai Logistics are women. This is not by design. By seeking out the best of the best, it just happened.
As a mentor, what advice do you give?
Dress for the job you want, not for the job you have. But I am not talking just about clothes. I am talking about your mental state, your body language, the quality of the work you produce. Visualize the job you want and portray that in all you do.
I also tell people to always be honest, respectful, and ethical. These characteristics are essential.
Getting the right product to the right place at just the right time is a complicated business. Kelli Saunders, CEO of Morai Logistics, understands the complexities and nuances involved in long term sustainability in the logistics industry. This is why the company she leads is the successful multimillion dollar, multinational business that it is today.
Kelli’s experience in the supply chain and logistics field is extensive. During her 30 years in the industry, she has been recognized for her strategic selling, relationship development, and management throughout North America. She started from her humble beginnings as a telemarketing supervisor for a Canadian 3PL provider to creating Morai Logistics Inc.
Since then Kelli has received numerous awards for her expertise in strategic sales. She has shown consistent impact in the industry by being awarded Salesperson of the Year numerous times, and was the former president of the Toronto Transportation Club. As a certified diversity supplier, her company has received WeConnect Canada’s Doing Business International Award and WBE Canada’s Doing Business Award as a woman-owned business.
Aside from assisting her clients with services including warehousing, management consulting and technology services through Morai Logistics, Kelli’s drive also shines through in her other passions.
She is an active member of the Women Presidents Organization, WeConnect International, and WBE Canada. Kelli strives to inspire women by telling her story and sharing her lessons at talks to support fellow female entrepreneurs. She also takes time to enjoy spinning, running, golf, and travelling. Her motivation and drive shows in her company’s performance and inspires her team to succeed.
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by Fronetics | Apr 25, 2016 | Blog, Strategy, Supply Chain
Image source: tomicpasko | Flickr
They are your employees. They are your customers. Pretty soon, Millennials will be the supply chain.
As Millennials now outnumber Generation X and Baby Boomers in the workforce, shifts in ideas and processes were inevitable. But this generation is having an even more palpable impact: They are reshaping the economy as we know it, forcing businesses to reexamine traditional methods of buying and selling to accommodate their unique preferences and experiences.
A 2014 survey found that 46% of B2B buyers were Millennials, and that number is on the rise. Their preferences and behaviors are having a noticeable impact on B2B buyer behavior as a whole. In short, the supply chain should be prepared to change the way business is conducted to account for this generation’s impact.
Who are Millennials?
The term “Millennials” describes the generation of Americans born between 1982 and 2000. The more than 83 million Millennials represent a quarter of the US population, and are more diverse than any previous generation, with 44.2% being a part of a minority race or ethnic group.
Millennials are generally highly educated, though often underemployed and saddled with debt. They are digital natives who are decidedly collaborative by nature. Having grown up in a time of rapid technological advancement, their expectations and priorities are much different than previous generations. They’re delaying marriage and parenthood in favor of higher education and travel, fueling their strong sense of optimism. And they generally are reluctant to make major purchases — like homes, cars, and even music — instead favoring services that provide access to products without ownership, fueling the growth of the collaborative economy.
Ads be gone
Bombarded with over 5,000 marketing messages a day, every day for their entire lives, Millennials are able tune out traditional advertisements. They are turned off by direct sales pitches and much prefer word-of-mouth recommendations or joining communities around brands they like to learn about products and services. They are easily incentivized and want to be rewarded for their brand loyalty with things like discounts, access to information, and personalized communications.
Reshaping retail
Millennials are highly attached to technology. More than half go online multiple times per day, while more than a third (36%) report going online “almost constantly.” Approximately 90% are active on at least one social media network. They expect brands and businesses to have a digital presence and engage with them online — especially if they have a complaint or problem.
Having the internet at their fingertips shapes how Millennials shop. Their constant access to product information, user reviews, and price comparisons allows them to favor brands and products that offer maximum convenience at the lowest cost. Catering to their proclivity for the best for the least, giant retailers like Amazon have reset expectations for shipping times, availability, and price.
Millennials have taken shopping mobile. Around 92% will use a mobile device while they shop, and 78% will use an app to shop. And the revolution is far from over : Artificial intelligence, robots, and drones represent a new wave of technology that many tech companies, driven by Millennial innovators, are just a short step from achieving.
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by Fronetics | Mar 28, 2016 | Blog, Marketing, Social Media
A recent collection of social media facts and stats offers an interesting look at B2B company and buyer behavior.
Last month, Webbiquity published a list of 49 social media facts and stats about user behavior on Facebook, Twitter, LinkedIn, Pinterest, Instagram, and Google+. These figures, collected from various studies, offer insight into how people and businesses are using social networking in recent times.
B2B companies may find several of the stats particularly interesting, and it may influence the way they think about social media marketing. I have pulled out some of the most applicable and offered some thoughts below.
Social media facts and stats from Webbiquity
88% of B2B companies use Facebook for marketing (and 96% of all B2C companies )
If you are not using Facebook in your marketing efforts, you are in a quickly growing minority. With 968 million active daily users, the largest social networking site offers a huge opportunity — actually, the most expansive opportunity available — for your business to attract, court, and convert potential customers. Here are some of our top tips for using Facebook to market your business.
93% of small business owners and marketers use Facebook.
Small businesses don’t have the time or budget to compete with large brands when it comes to marketing — but social media can level the playing field. Social media, and Facebook especially, is an ideal marketing platform for small businesses because it can be relatively inexpensive but have a high impact on growth. Your company can cultivate your brand, engage with customers, and form business relationships. Learn how two small companies saw enormous growth thanks to social media.
21% of consumers say they unfollow brands that post repetitive or boring content. 19% say they would unfollow a brand on Facebook if the brand posted too often — more than six times a day.
We know that creating good, original content is key to a successful inbound marketing strategy. But knowing how often to post to the various social channels can be one of the more intimidating obstacles to overcome. How do you know what’s too much and what’s too little? Learn how often you should post on social media.
74% B2B decision makers use LinkedIn to help make purchasing decisions.
Don’t let anyone convince you that social media channels are for personal use only: customers are online, and if you aren’t, you’re at a disadvantage. And since nearly three-quarters use LinkedIn for purchasing decisions, it’s critical that your business is strategic about your presence on the network. Check out this guide for creating the perfect LinkedIn company page to get started.
88% of B2B marketers in North America use Twitter for content distribution.
Twitter is one of the more effective channels for gaining business, and the numbers prove it. A Market Probe International survey found that 72% of those who follow a business on Twitter are more likely to make a purchase from that business, and that 82% of followers are more likely to recommend a product or service to friends and family. Additionally, 85% of respondents reported feeling a closer connection to a small business if they follow them on Twitter. Learn more about Twitter for business.
Pinterest has 47 million active monthly users worldwide, 80% of whom are women.
While Pinterest use is rapidly growing among B2C marketers, the B2B world still hasn’t quite figured it out yet. I pulled out the two above stats to show the enormous potential this channel has, particularly for businesses whose customer base is primarily women. Fronetics’ social prospecting workbook has some ideas on how to get started using Pinterest.
32% of U.S. companies with 100+ employees used Instagram for marketing activities in 2015. eMarketer predicts that number will jump to 70.7% by 2017.
The importance of Instagram for B2B companies will continue to grow. Here’s why: 90% of Instagram users are under age 35. A recent Google study showed an increasing number of Millennials on the B2B purchasing path — up to 46% of potential buyers were of this generation in 2014. Their preferences and behaviors are having a noticeable impact on B2B buyer behavior as a whole. So if your business wants to capitalize on the nearly 300 million active monthly users, Instagram should be on your radar.
64% of North American B2B marketers use Google+ to distribute content, but just 17% use it for new product launches (vs. 81% who use LinkedIn).
Americans may use Google+ less frequently than some of the other networks, but don’t count it out entirely. More people check the site than people realize, including die-hard fans of Google products and the many businesses who use the Google suite professionally.
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