Note From Jim:
I've previously spoken with Jeff Higgens, CEO Human Capital Management Institute. I’ve found his research to be both insightful and powerful. HCMI's Human Capital Financial Statements, and its Human Capital Metrics provide organizations with a new tool to directly measure and transform organizational performance.
I encourage you to obtain a copy of HCMI's new whitepaper. From HCMI, Discover how the metrics of "cost-per-hire" and "time-to-fill" compromise financial performance. And among other concepts, also learn how to calculate and measure the "Quality-Of-hire Multiplier" or the "Talent Managment Index".
For a preview of HCMI's upcoming white paper, see the news release below.
----------------------------
HCMI has Evidence that Human Capital Metrics can Predict Stock Price Changes
HCMI’s new white paper shows the impact human capital metrics have in predicting a company’s future stock price movement.
Marina del Rey, California (PRWEB) January 14, 2013
A preview of a new white paper by Human Capital Management Institute (HCMI) discusses the contribution of human capital metrics to a company’s stock price and continues to challenge the exclusion of human capital data in traditional public company reporting. For this paper, over 22,000 companies were analyzed and six human capital metrics were tested using 16 years of public company data from 1996 to 2011. Results include findings such as the following: a 10% increase in selected human capital metrics is associated with stock price gains ranging from 3% - 19% and the Total Cost of Workforce metric is superior to the standard headcount metric.
While Finance and Human Resources are separate business functions, the white paper’s findings provide common ground on which the two areas can collaborate. Per HCMI’s previous white papers, workforce metrics don’t stop at “headcount”. Rather, intangible assets (a.k.a “human capital”) play a major role in a company’s financial performance.
Jeff Higgins, CEO of HCMI says: “We can now answer the question not of ‘if’ effectively managing human capital using the right metrics impacts stock price, but how much it impacts stock price. HCMI believes these metrics from Human Capital Financial Statements (HCF$™) are the most definitive means to quantify workforce productivity in existence.”
According to Dr. Don Atwater of Pepperdine University’s Graziadio School of Business and Management, Department of Economics, “The old news is that ‘people are our greatest assets (and costs)’, but what our research is showing is that there is a connection between companies that actually show that with their actions and those that do not in terms of shareholder value. There really are leaders and laggards.”
“HCMI’s Human Capital Financial Statements (HCFS ™) represent the endpoint HR has been searching for to standardize measurement and enable comparison of human capital performance across industry, and geography,” states Dr. Jac Fitz-enz, CEO, Human Capital Source and also known as the “father” of workforce analytics.
Look for the entire white paper (due out in January 2013), which contains a more detailed breakdown of the analysis and findings. For previous white papers on related topics, please visit http://www.hcminst.com.
About HCMI
The Human Capital Management Institute was founded on the belief that organizations can, and must, find better ways of measuring their investments in human capital. We strive to fundamentally change the way organizations make decisions about their workforce, and our vision of the future is one in which human capital measurement and information is as integral to business decision making as financial information is today. Serving global clients, HCMI delivers workforce analytics and planning training, risk assessments, consulting, and analytics and workforce planning technology tools including SOLVE Workforce Intelligence Software
http://www.prweb.com/releases/2013/1/prweb10309469.htm
http://www.hcminst.com.
Showing posts with label onboarding. Show all posts
Showing posts with label onboarding. Show all posts
Wednesday, January 16, 2013
Wednesday, October 10, 2012
Onboarding New Leaders October 8, 2012 by Ken Nowack - Envisia
“You can observe a lot just by watching.” ~ Yogi BerraOnboarding new and potential leaders for success is important.
About 40% of executives who change jobs or get promoted fail in the first 18 months.
Right now, we are grooming a new leader. HIs name is Indy and he is a 6-week guide dog in training owned by Guide Dogs of America. He is our 5th guide dog puppy we have raised and we will have the ability to shape his leadership skills for about 18 months.
Here are some onboarding lessons we have learned from our previous guide dog puppies and what we are applying to Indy.
Onboard Lesson 1: Effective Leaders Get to Know Critical Stakeholders
Effective leaders learn quickly to identify the political “movers and shakers” and key stakeholders within and outside the organization. New leaders should systematically be introduced to these key stakeholders and take the initiative in their first 90 days to establish rapport and a working knowledge of the key needs of these individuals.
Develop a plan to understand the stakeholder’s expectations of you and how you can support their performance. Take a personal interest in them and tune into special details about their likes, dislikes, and even family relations.
We are planning on introducing Indy to all of our favortite vendors and restaurant owners that have been so gracious over the years to support our work with the guide dog puppy raising program (special shout out to La Vecchia and their great staff over the years).
Onboard Lesson 2: Effective Leaders Play Well With Others
Talent today don’t leave bad organizations, they leave bad leaders who are competent jerks. Most failures of leaders are primarily due to overuse of one’s strengths and interpersonal deficits. Understanding one’s own personality (bright side assests and dark side liabilities) will enable new leaders to foster positive relationships and nurture interpersonal trust.
Playing well with others also involves starting to create a new team identity. It starts with understanding and attempting to deploy the signature strengths of each direct report on one’s team. It also involves truly listening and understanding the team culture for the first 90 days without making too many significant changes or decisions that impact the organization unless you have a direct mandate to do so.
We have already begun puppy training for Indy–a lot of his learning is how to interact with other puppies. Truly learning to play well with others will allow him to become a great guide dog in the future.
Onboard Lesson 3: Effective Leaders Create a 90 Day Action Plan
Behavior change is very difficult for most of us. Starting new behaviors and maintaining it over time requires a different set of motives and skills.
Effective leaders should create both an organizational and personal plan of goals and activities to support these goals for 90 days.
Creating and espousing a vision without action is a waste of time and will diminish the credibility of new leaders. Demonstrating a connection between a vision and concrete actions and successes in the first 90 days is one of the most important metrics that new leaders are judged on.
Each month Indy will be going to our “guide dog” support group and training and it is during this time we have to demonstrate the 90 day core skills we are building with him (e.g., the basic commands needed to be a service dog in the future). We have some carefully mapped out exercises and activities that are age (maturity) dependent to social Indy to new sights and sounds and focus on deliberate practice of new skills until they become automatic.
Onboard Lesson 4: Effective Leaders Truly Manage Energy and Not Time
The most effective leaders understand that they don’t have enough time but, they have all the time that there is.
Effective leaders make sure to renew their energy and not run it down so they can be at the top of their game each day. Here are some behaviors that appear to differentiate the most effective leaders who manage their energy:
Develop Secondary PassionsWell, Indy is just waking up from one of his renewal naps so you probably can guess what I need to do now!
Manage Energy and Not Time
Use Short-Term Goals to Accomplish Long Term Success
Seek Ongoing and Candid Feedback
Deliberate Practice Over 10 Years Makes You Better
Use “Ultradian Sprints” of no longer than 90 minutes to Minimize Interruptions
Compete with the Very Best to Get Better
Utilize a Balanced Success Scorecard with specific goals for enhancing relationships, happiness, achievements at work/life and their legacy/life meaning
Stayed tuned for more leadership lessons with Indy….Be well….
Access Envisia Content Source And Its Great Stuff: http://results.envisialearning.com/onboarding-new-leaders/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+ResultsVsActivities+%28Results+vs.+Activities%29
Saturday, January 28, 2012
D.I.S.C.O. The Good Hire Process - Envisia
January 27, 2012
Posted by Ken Nowack
There are few things more important to the success of an organization, than getting the right people into your organization (and then keeping them). The costs of a bad hire are enormous in terms of the financial investment in the hiring process, cost of poor performance, lost time and energy in needless management, decreased morale and employee retention (there is growing evidence that good employees don’t leave organizations, they leave bad bosses).
When you think of the worst things about your organization, you can probably trace it back to a bad hire. Likewise, when you consider what is working well, you will probably trace it back to a good hire.
There are three ways to get the Best People into your organization. You can Hire them, you can Inspire (or develop and retain) them or you can Retire (reposition or fire) them. Firing people is necessary but difficult and at times carries with it risk. Repositioning is often a good alternative as long as the problem was poor fit rather than poor emotional intelligence or incompetence. Developing is always good but you can only develop people within their capacity to truly learn. It is hard to take an average employee and develop them into a star (and even more difficult to take a low-performing employee even to only the next level). By far and away, the best option of getting the work force that you want is to hire them. It is easier to hire a star than attempt to develop them over years. And let’s face it, not everyone is teachable.
One of the favorite things that I do as a consultant is to help organizations hire good-fit, emotionally intelligent leaders and then to help integrate them into their new position (and possible new work culture). Below is the five-step choreography that I use, let’s D.I.S.C.O.
Define the position. Not enough time is spent on thinking about the position to be filled. What exactly are you looking for and what kind of person would fill it? We often assume that we should just fill the same position that is vacated. If you think like that you will at best get what you already had. Think about what you need now and into the future. We are currently helping the president of a company hire a COO. We are suggesting to him to think 2-3 years ahead. Who do you want or need this person to be in two years? Consider the position that you are looking to fill, a new position that is aligned with your current strategic plan (if you have one). Once you do that, describe the KSA (knowledge, Skills and Aptitudes) of the ideal person. As consultants we use a system that profiles that ideal candidate, one that we later use for assessment and interviewing purposes and even later for measuring success after they are hired.
Identify the best (and fewest) candidates. There are many ways to identify the best candidates. You can identify candidates as simply as advertising the position on the web (e.g. Craig’s List or Monster.com) for lower level hires to employing a search firm for C-level executives. Although very expensive, the advantage of using an executive search firm is that they can locate people who are already working and currently not-looking. Although we do not identify and recruit we help you determine the best way to do it. We also partner with recruiters and search firms as well. What is important in the Identification process is to get the best prospects, and not one more. This involves not just identification but also good screening. You can screen candidates by reviewing their resumes, doing a standardized phone screen or hire a search firm to do the screening for you.
Selection. Once you have a final group of good candidates you now need to go through a thorough selection process. Here are the ABCs of this process:
Onboarding. The hiring process does NOT end with the hire. This is a mistake that many organizations make. In our process we will stay with the new hire over the course a several months helping them integrate into the new position–and the new culture if they are an outside hire. Monitoring and assessing their progress and enhancing important communications along the way. We will use all the assessment data to both coach the new hire and direct his or her boss on how to mentor the new hire. The purpose of onboarding is to instigate a soft landing (integration), detect any issues early that might be problematic down the road and hone in the performance to the strategic needs of the position.
If you are going to cut costs in an organization, do not cut costs in the hiring process. It will come back to haunt you for years. Instead learn to do the D.I.S.C.O. and you will not regret it for a minute.
Access Source And Its Great Content: http://results.envisialearning.com/
Posted by Ken Nowack
Written by Sam Alibrando, Ph.D., a licensed psychologist and president of APC, Inc. , a consulting firm that works with organizations and senior executives.
There are few things more important to the success of an organization, than getting the right people into your organization (and then keeping them). The costs of a bad hire are enormous in terms of the financial investment in the hiring process, cost of poor performance, lost time and energy in needless management, decreased morale and employee retention (there is growing evidence that good employees don’t leave organizations, they leave bad bosses).
When you think of the worst things about your organization, you can probably trace it back to a bad hire. Likewise, when you consider what is working well, you will probably trace it back to a good hire.
There are three ways to get the Best People into your organization. You can Hire them, you can Inspire (or develop and retain) them or you can Retire (reposition or fire) them. Firing people is necessary but difficult and at times carries with it risk. Repositioning is often a good alternative as long as the problem was poor fit rather than poor emotional intelligence or incompetence. Developing is always good but you can only develop people within their capacity to truly learn. It is hard to take an average employee and develop them into a star (and even more difficult to take a low-performing employee even to only the next level). By far and away, the best option of getting the work force that you want is to hire them. It is easier to hire a star than attempt to develop them over years. And let’s face it, not everyone is teachable.
One of the favorite things that I do as a consultant is to help organizations hire good-fit, emotionally intelligent leaders and then to help integrate them into their new position (and possible new work culture). Below is the five-step choreography that I use, let’s D.I.S.C.O.
Define the position. Not enough time is spent on thinking about the position to be filled. What exactly are you looking for and what kind of person would fill it? We often assume that we should just fill the same position that is vacated. If you think like that you will at best get what you already had. Think about what you need now and into the future. We are currently helping the president of a company hire a COO. We are suggesting to him to think 2-3 years ahead. Who do you want or need this person to be in two years? Consider the position that you are looking to fill, a new position that is aligned with your current strategic plan (if you have one). Once you do that, describe the KSA (knowledge, Skills and Aptitudes) of the ideal person. As consultants we use a system that profiles that ideal candidate, one that we later use for assessment and interviewing purposes and even later for measuring success after they are hired.
Identify the best (and fewest) candidates. There are many ways to identify the best candidates. You can identify candidates as simply as advertising the position on the web (e.g. Craig’s List or Monster.com) for lower level hires to employing a search firm for C-level executives. Although very expensive, the advantage of using an executive search firm is that they can locate people who are already working and currently not-looking. Although we do not identify and recruit we help you determine the best way to do it. We also partner with recruiters and search firms as well. What is important in the Identification process is to get the best prospects, and not one more. This involves not just identification but also good screening. You can screen candidates by reviewing their resumes, doing a standardized phone screen or hire a search firm to do the screening for you.
Selection. Once you have a final group of good candidates you now need to go through a thorough selection process. Here are the ABCs of this process:
Assessment. We put candidates through a battery of assessments that assess fit to ideal profile, strength assessment, their team role, cognitive capacity and personality fit. We then use this information to guide the interviewing process.Choose. This is the shortest but obviously most important decision you will make in the DISCO process. Bring together all the stakeholders, interviewers, data from assessment, information from references and background check and make a decision. Honor people who have a “bad feeling” about someone. Don’t necessarily trust “likeability” (remember narcissistic people are notorious charmers). You need to tie likeability to performance and fit. And when you choose someone, think emotional intelligence. You can have a very talented person but if they cannot regulate their emotions or they relate poorly to others, you will get more than you bargained for. After having the basic KSAs in place, few things are more important than emotional intelligence, especially if this person works with clients, needs to work in a team or manage or lead others.
Behavioral Interviews. The typical interview has about a 50% accuracy (might as well flip a coin) for predicting success. Do you want to improve your odds? Then you need to do what is called a behavioral interview. The best predictor of future behavior is past behavior. In the interview, you want to assess how a person performed and therefore will perform in your organization. If you do this, you improve your predictability to 80%. I would take those odds. As consultants, we have both guided this process and will actually sit in on interviews. And speaking of sitting in on interviews, generally speaking the more touches (the more people in the interviewing process)–up to a certain reasonable amount, the better chances of making a good hire (and avoiding a bad one).
Confirm. You want to confirm what you are told. This includes actually following up with references, confirming allegations and doing background checks. We worked with one company that was hiring a very important general manager. The chair of the hiring committee found someone who was a friend of a friend (not the best way to identify a candidate) and he had everything that they were looking for in a GM. The chair of the committee loved him was ready to hire him on the spot. Fortunately, three other people interviewed him. One seasoned executive who interviewed the candidate had a “bad feeling” about this prospect. The assessments that we did indicated an average to poor fit for the position. This instigated enough concern that a background check was done. And when they did a background check, they found that he had a history of serious problems that would likely follow him into this next position. If the chair selected this person–in a manner that most organizations do– without following the ABCs of Selection, they would have hired their next huge headache and unnecessary expense.
Onboarding. The hiring process does NOT end with the hire. This is a mistake that many organizations make. In our process we will stay with the new hire over the course a several months helping them integrate into the new position–and the new culture if they are an outside hire. Monitoring and assessing their progress and enhancing important communications along the way. We will use all the assessment data to both coach the new hire and direct his or her boss on how to mentor the new hire. The purpose of onboarding is to instigate a soft landing (integration), detect any issues early that might be problematic down the road and hone in the performance to the strategic needs of the position.
If you are going to cut costs in an organization, do not cut costs in the hiring process. It will come back to haunt you for years. Instead learn to do the D.I.S.C.O. and you will not regret it for a minute.
Access Source And Its Great Content: http://results.envisialearning.com/
Saturday, July 2, 2011
3 Questions to Ask When Your New Hire Sucks
Written by Scot Herrick on June 30, 2011 in Cube Rules Commentary
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http://dreamlearndobecome.blogspot.com This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Once in a while, though, that great new hire walks in the door on day one and doesn’t look or sound like the great hire you thought. It’s not just buyer’s remorse; it is this sense that the person you interviewed doesn’t resemble the person in front of you that should be doing the work.
It’s crunch time. Either this will turn around quick — or this bad hire will start giving you and your team heartburn. What to do?
My recommendation is to let this person go, sooner than later. But before you do that, here’s three questions that need an answer:
1. Did you give clear goals and expectations?
Within the first week, you should outline what work expectations you have for the employee. That includes turn-around times, goals for the work, and administrivia such as how to do your particular status report and when to give it. Now, you’re not going to get every expectation down. But you’ll get most of them down.
When expectations aren’t met, it’s important to call out the new employee that the expectations are not being met. This does two things: first, it shows the person the manager is paying attention, and, second, it helps calibrate where the employee is in the work so both of you start to do some mind-melding on the level of work required.
Now, managers often suck at providing good expectations and goals — no doubt about that. As a new employee, if your boss isn’t providing these expectations, you need to go ask about them to make sure you don’t get nailed about not meeting expectations even if none were provided (which also sucks…).
If you don’t have this sort of support, you need to offer it yourself or your new employee will never get to the rules of the road in your company. But if you do offer a good process and the new employee isn’t getting it, it is further confirmation that this is a bad hire.
3. Do your current employees agree?
If you are in a trusted environment with your team, you can ask your team (individually) about the new hire. I did that today, for example, with an existing person on my project team about a new team member hired last week. Good feedback on the new hire as well. But if you get lots of negative feedback — or the non-verbal reluctance of a person to describe how much your new hire sucks — you should have all sorts of warning signs that this isn’t a good hire. You don’t do this in a group setting, of course, but you need to ask your team how the new person is doing, knowing all the biases your team has about the work.
The 800-pound elephant in the room
Here’s the deal: for a manager to admit a mistake, either through poor interviewing or a job candidate who provided all the “right” answers but fails to translate the answers on the job, is very difficult. People are never wrong. Neither are companies. It requires a strong ego to say the job isn’t going to work out. It requires freedom from fear of showing a mistake made by a manager to the management team. Can you admit a mistake? That’s the 800-pound elephant in the room.
It’s crunch time. Either this will turn around quick — or this bad hire will start giving you and your team heartburn. What to do?
My recommendation is to let this person go, sooner than later. But before you do that, here’s three questions that need an answer:
1. Did you give clear goals and expectations?
Within the first week, you should outline what work expectations you have for the employee. That includes turn-around times, goals for the work, and administrivia such as how to do your particular status report and when to give it. Now, you’re not going to get every expectation down. But you’ll get most of them down.
When expectations aren’t met, it’s important to call out the new employee that the expectations are not being met. This does two things: first, it shows the person the manager is paying attention, and, second, it helps calibrate where the employee is in the work so both of you start to do some mind-melding on the level of work required.
Now, managers often suck at providing good expectations and goals — no doubt about that. As a new employee, if your boss isn’t providing these expectations, you need to go ask about them to make sure you don’t get nailed about not meeting expectations even if none were provided (which also sucks…).
2. Do you offer a good on-boarding process?
When you start on a job, there is a huge amount of information to process. It’s better to process this information in smaller chunks and with different people providing the information. One person can explain corporate organization. Another how the work gets done. Another on how your particular method is implemented in this organization.If you don’t have this sort of support, you need to offer it yourself or your new employee will never get to the rules of the road in your company. But if you do offer a good process and the new employee isn’t getting it, it is further confirmation that this is a bad hire.
3. Do your current employees agree?
If you are in a trusted environment with your team, you can ask your team (individually) about the new hire. I did that today, for example, with an existing person on my project team about a new team member hired last week. Good feedback on the new hire as well. But if you get lots of negative feedback — or the non-verbal reluctance of a person to describe how much your new hire sucks — you should have all sorts of warning signs that this isn’t a good hire. You don’t do this in a group setting, of course, but you need to ask your team how the new person is doing, knowing all the biases your team has about the work.
The 800-pound elephant in the room
Here’s the deal: for a manager to admit a mistake, either through poor interviewing or a job candidate who provided all the “right” answers but fails to translate the answers on the job, is very difficult. People are never wrong. Neither are companies. It requires a strong ego to say the job isn’t going to work out. It requires freedom from fear of showing a mistake made by a manager to the management team. Can you admit a mistake? That’s the 800-pound elephant in the room.
Look, there are great interviewers who lack great execution on the job. Just like there are poor interviewers that are great on the job. If you get a great interview and lousy on the job person, cut your losses or you’ll end up covering up the mistake for a long, long time.
Access Content Source And Other Great Stuff: http://cuberules.com/2011/06/30/3-questions-ask-when-your-hire-sucks/
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http://dreamlearndobecome.blogspot.com This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Tuesday, January 25, 2011
The Six Habits of a Talent Magnet - Anthony Tjan - Harvard Business Review
The Six Habits of a Talent Magnet - Anthony Tjan - Harvard Business Review
1. Get to know the most talented individuals early on, when you don't need them. Can you name the best one or two people for each of the critical positions in your industry? If you can't, start by attending industry meetings and asking the right questions. If at all possible, begin socializing with the best individuals across particular disciplines. Who are they really as people, versus what they do for a living? What interests them, excites them, drives them? The very best time to get to know people is when you don't need to hire them now. If you don't establish a relationship first, chances are you will end up paying top dollar to get them — and even if they sign up, you may have trouble retaining them.
2. Create and manage the right expectations. Most entrepreneurs and business builders oversell the excitement of their entrepreneurial opportunity and/or the institution, and undersell themselves. The most talented people are attracted to leaders whom they can trust and role models they want to emulate. Thus, ask yourself the question: "Why would any real talent want to work for me?" Paying top dollar is never a good enough reason for the best talent to join and stay with you. Promising room to stretch and rapid advancement have also become par for the course. To break out of the pack, you've got to look within yourself for the real leader whom they want to follow. It could be your courage to stand by your values, your reputation as a gifted teacher, or your soft power to bring opposites together. Then, set clear expectations from Day One of what you are willing to do to help them learn from you that they can't learn from anyone else, and what you expect them to do to succeed in this apprenticeship.
3. Look at their hearts — and not just their smarts. The average resume is long on accomplishments and qualifications, and short on purpose and passion. Which is fine if you're merely in search of technical skills. Yet in situations where you expect people to step up to uncertainty — to do unprecedented things and deliver breakthrough results — you need to focus on candidates' motivation, values and purpose. Leadership defines itself when you are looking for people to change the game — and not just to improve a company's performance (otherwise managers with sound skills would suffice).
4. Cultivate them over time. The best talent is almost always occupied (otherwise they wouldn't be the best). Luck is essential to business-building success, yet leaders cannot expect ideal candidates to be ready, waiting, and available every time they need great talent. Our recommendation: cultivate the best talent you can, and keep these individuals apprised of your work, purpose and ongoing mission. Let them know who you are as a person. Best talents have lots of options. Don't be surprised when they say 'no' to you. Never give up. Keep coming back over a number of years and when these talents are finally ready to move and know how you are different, they will come to you.
5. On-board them thoughtfully. We're frequently amazed by how carelessly and unsuccessfully many leaders transition new talent into a new milieu. In a complex organization, or unfamiliar context, "Sink or swim" is a perilous strategy. New talent wants to succeed. Invest from the start in making sure this happens, and you will soon find yourself surrounded by loyal followers.
********************************************************
http://dreamlearndobecome.blogspot.com This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Harvard Business Review
Anthony Tjan
The Six Habits of a Talent Magnet
(Tsun-yan Hsieh is working with Anthony Tjan and Richard Harrington on a book about entrepreneurship and building businesses. He is chairman of LinHart Group, a firm specialized in CEO leadership, and is a member of Cue Ball's advisory group, the Cue Ball Collective.)
Talent is the make-or-break issue for business success. Few great entrepreneurs and CEOs of our acquaintance would contest that statement. If you are a leader who's serious about improving your capacity to attract the best talent, you need to develop the habits of a true talent magnet. From our research and experience with numerous CEOs and entrepreneurs, we've identified six:
1. Get to know the most talented individuals early on, when you don't need them. Can you name the best one or two people for each of the critical positions in your industry? If you can't, start by attending industry meetings and asking the right questions. If at all possible, begin socializing with the best individuals across particular disciplines. Who are they really as people, versus what they do for a living? What interests them, excites them, drives them? The very best time to get to know people is when you don't need to hire them now. If you don't establish a relationship first, chances are you will end up paying top dollar to get them — and even if they sign up, you may have trouble retaining them.
2. Create and manage the right expectations. Most entrepreneurs and business builders oversell the excitement of their entrepreneurial opportunity and/or the institution, and undersell themselves. The most talented people are attracted to leaders whom they can trust and role models they want to emulate. Thus, ask yourself the question: "Why would any real talent want to work for me?" Paying top dollar is never a good enough reason for the best talent to join and stay with you. Promising room to stretch and rapid advancement have also become par for the course. To break out of the pack, you've got to look within yourself for the real leader whom they want to follow. It could be your courage to stand by your values, your reputation as a gifted teacher, or your soft power to bring opposites together. Then, set clear expectations from Day One of what you are willing to do to help them learn from you that they can't learn from anyone else, and what you expect them to do to succeed in this apprenticeship.
3. Look at their hearts — and not just their smarts. The average resume is long on accomplishments and qualifications, and short on purpose and passion. Which is fine if you're merely in search of technical skills. Yet in situations where you expect people to step up to uncertainty — to do unprecedented things and deliver breakthrough results — you need to focus on candidates' motivation, values and purpose. Leadership defines itself when you are looking for people to change the game — and not just to improve a company's performance (otherwise managers with sound skills would suffice).
4. Cultivate them over time. The best talent is almost always occupied (otherwise they wouldn't be the best). Luck is essential to business-building success, yet leaders cannot expect ideal candidates to be ready, waiting, and available every time they need great talent. Our recommendation: cultivate the best talent you can, and keep these individuals apprised of your work, purpose and ongoing mission. Let them know who you are as a person. Best talents have lots of options. Don't be surprised when they say 'no' to you. Never give up. Keep coming back over a number of years and when these talents are finally ready to move and know how you are different, they will come to you.
5. On-board them thoughtfully. We're frequently amazed by how carelessly and unsuccessfully many leaders transition new talent into a new milieu. In a complex organization, or unfamiliar context, "Sink or swim" is a perilous strategy. New talent wants to succeed. Invest from the start in making sure this happens, and you will soon find yourself surrounded by loyal followers.
6. Mentor them for their success. Being a mentor involves more than giving constructive feedback and avuncular advice. Mentoring is a journey based on mutual commitment to discovery and learning. Your primary reward is another person's success. Real talent can intuit when you're only interested in what they can do for you — and as soon as they find greener pastures, they'll leave. (For more on this, see our discussion of an effective framework for mentorship.)
How well do you stack up against these six dimensions? Again, engaging and retaining real talent is the most critical factor to your success — which is why the real test ultimately lies with your best talent today. Ask them what they think. Our guess is their answers will help you uncover personal and professional truths that will help transform you into an even better leader.
How well do you stack up against these six dimensions? Again, engaging and retaining real talent is the most critical factor to your success — which is why the real test ultimately lies with your best talent today. Ask them what they think. Our guess is their answers will help you uncover personal and professional truths that will help transform you into an even better leader.
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http://dreamlearndobecome.blogspot.com This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Friday, September 24, 2010
Onboarding: 9 Dirty Words - ERE.net
Onboarding: 9 Dirty Words - ERE.net
David Lee, who has frequently spoken and written several articles about onboarding, says that if your new employees experience any of the following emotions when they join your company, you’ve got trouble.
Lee, speaking at ERE’s conference in San Diego, says these are the emotions your employees ought to be left with.
********************************************************
http://dreamlearndobecome.blogspot.com This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
David Lee, who has frequently spoken and written several articles about onboarding, says that if your new employees experience any of the following emotions when they join your company, you’ve got trouble.
- Confused
- Frustrated
- Overwhelmed
- Bored
- Annoyed
- Anxious
- Insecure
- Disappointed
- Regretful
Lee, speaking at ERE’s conference in San Diego, says these are the emotions your employees ought to be left with.
- Welcome
- Comfortable
- Secure
- Valued
- Important
- Proud
- Excited
- Confident
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http://dreamlearndobecome.blogspot.com This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Onboarding - "Impressing Your Employee's Better Half" - WSJ 9-20-2010
The Wall Street Journal
SEPTEMBER 20, 2010, 11:34 A.M. ET.Guest Column
Impressing Your Employee's Better Half
No amount of job awards can out-influence the main squeeze. You can offer praise and gifts left and right, but you won't see much improvement in your senior salesperson's performance if she goes home to a partner who says, "How much longer are you going to work for that jerk?"
To be sure, I'm not suggesting the average business owner is a jerk. It's just that the men and women your employees go home to at night have the power to motivate a small-business team far better and faster than you could.
Here's the key to winning over an employee's family: Start from day one. The first thing your newly hired staff member will likely hear from a significant other when he gets home is, "How was your first day?" If he spent it mostly filling out a three-foot stack of forms, ordering his own business cards and eating lunch alone, he might rightfully answer: "Lousy." His better half will quickly get down on your company, too, and hardly encourage the top-notch performance you want to see.
But what if your new recruit's first day is the opposite of tedious and lonely?
There's a full-proof way to get employees—and their loved ones at home—excited about working for your company from day one. First, you have a welcome party, complete with refreshments and a gift. As the boss, you would spend the entire day with the new hire, providing deeper insight about your company and industry. During this time, you'd find out what and who mattered most to him or her. Then, a large group of your staff members would go out for lunch to honor their new colleague.
At the end of the paperwork-free day (all the forms would be taken care of in advance), you would hand your new team member gifts to take home for the family—an Xbox game for the kids, or a spa gift certificate or golf lessons for their significant other—which you knew would be appreciated based on your conversation with this person earlier that day.
So, what happens if your new recruit comes home with a great story about his amazing first day, plus gifts? His better half will realize the opportunity he has—and she'll become the ultimate motivator, rather than detractor.
Keep in mind, there are many definitions of family. Your new employee may be single (or soon to be). It's your mission to find out who makes up his or her support system and give accordingly—perhaps a gift card for a night out with pals or a matinee with Mom.
******************************************************** http://dreamlearndobecome.blogspot.com This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
RUNNING A BUSINESS
SEPTEMBER 20, 2010, 11:34 A.M. ET.Guest Column
Impressing Your Employee's Better Half
As a business owner, you don't want employees who are only motivated to perform well so they can win a prize. You want employees who are motivated to perform well every day, no matter what carrot you're dangling in front of them. What you really need is a team of employees who are emotionally invested in your company. And to cultivate that, you need family support.
No amount of job awards can out-influence the main squeeze. You can offer praise and gifts left and right, but you won't see much improvement in your senior salesperson's performance if she goes home to a partner who says, "How much longer are you going to work for that jerk?"
To be sure, I'm not suggesting the average business owner is a jerk. It's just that the men and women your employees go home to at night have the power to motivate a small-business team far better and faster than you could.
Here's the key to winning over an employee's family: Start from day one. The first thing your newly hired staff member will likely hear from a significant other when he gets home is, "How was your first day?" If he spent it mostly filling out a three-foot stack of forms, ordering his own business cards and eating lunch alone, he might rightfully answer: "Lousy." His better half will quickly get down on your company, too, and hardly encourage the top-notch performance you want to see.
But what if your new recruit's first day is the opposite of tedious and lonely?
There's a full-proof way to get employees—and their loved ones at home—excited about working for your company from day one. First, you have a welcome party, complete with refreshments and a gift. As the boss, you would spend the entire day with the new hire, providing deeper insight about your company and industry. During this time, you'd find out what and who mattered most to him or her. Then, a large group of your staff members would go out for lunch to honor their new colleague.
At the end of the paperwork-free day (all the forms would be taken care of in advance), you would hand your new team member gifts to take home for the family—an Xbox game for the kids, or a spa gift certificate or golf lessons for their significant other—which you knew would be appreciated based on your conversation with this person earlier that day.
So, what happens if your new recruit comes home with a great story about his amazing first day, plus gifts? His better half will realize the opportunity he has—and she'll become the ultimate motivator, rather than detractor.
Keep in mind, there are many definitions of family. Your new employee may be single (or soon to be). It's your mission to find out who makes up his or her support system and give accordingly—perhaps a gift card for a night out with pals or a matinee with Mom.
When your employees hear daily words of encouragement from their closest confidantes like, "I can't believe how lucky you are to be working for that guy!" their motivation rises to levels you've never tapped before. It's worked for me in all of my companies. And even if you can't afford more than a home-baked cake or thank-you card, giving your new employees a best first day ever is the key to keeping them motivated for years to come.
About the Author
Mike Michalowicz is the author of "The Toilet Paper Entrepreneur." He is an advocate of a business philosophy by the same name, believing the greatest business successes come from underfunded, inexperienced entrepreneurs. His website is www.ToiletPaperEntrepreneur.com .
******************************************************** http://dreamlearndobecome.blogspot.com This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Friday, May 28, 2010
How to Prevent Hiring Disasters - Best Practices - Harvard Business Review
How to Prevent Hiring Disasters - Best Practices - Harvard Business Review
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http://dreamlearndobecome.blogspot.com This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Harvard Business Review
Best Practices
How to Prevent Hiring Disasters
What the Experts Say
Claudio Fernández-Aráoz, a senior adviser at Egon Zehnder International and the author of Great People Decisions and "The Definitive Guide to Recruiting in Good Times and Bad," argues that hiring decisions are pressure-filled for a reason. "It is crucial to get hiring right not only for the hiring entity, but also, and very importantly, for the person being hired," he says. A new hire isn't to blame for a bad hiring decision, but will shoulder much of the burden when a role doesn't fit.
A carefully crafted hiring process can help avoid most mishaps. Adele Lynn, founder and owner of The Adele Lynn Leadership Group and author of The EQ Interview, urges that companies regard hiring as more of a science than an art, or worse a leap of faith.
Prevention is the best medicine
You can greatly reduce your chances of getting hiring decisions wrong by following a clear and consistent approach that includes knowing the traits valued across the organization (such as humility or an entrepreneurial spirit); conducting fair, structured interviews that include multiple people from the organization; and agreeing on a standard ranking system to evaluate candidates.
Getting the right person for the job requires time and discipline. Be careful of the time trap, warns Lynn. "Often, companies are desperate to fill a position, so the interview process includes some generic questions and some information about the position," she says. Needing to fill the role yesterday is not an excuse for shortchanging the process.
Know the specific competencies you're looking for
Fernández-Aráoz says we are hardwired to hire people who are like us or make us comfortable — but that does not always yield the best candidate. In fact, you need to be aware of what he calls the "typical unconscious psychological traps" that lead one to make inferior people decisions (e.g. overrating capability or making snap judgments). Outline the specific competencies — above and beyond the traits you look for in all new hires — that the ideal candidate needs. What skills are required? How much does experience matter? What behaviors does he need to exhibit in the role? For example, this is a role requiring 7 years of computer programming experience but also an ability to work collaboratively with team members on high-pressure projects.
Screening for the right soft skills is critical. Seasoned hiring managers will tell you that it's much harder to coach behavioral issues than it is to teach someone the technical aspects of the job. "And people who fail in a new job mostly do so because of their inability to develop proper relationships not only with their boss but also with their peers and subordinates," says Fernández-Aráoz. To assess relational skills and emotional intelligence, "the interview should include behavior-based questions and motive and reflection questions," says Lynn. For example, "Tell me about a time you had a conflict with a co-worker and explain how you resolved it." The aim is to uncover the candidate's true colors. Does he blame others for his mistakes? Does he rationalize his behavior? Or does he accept responsibility? "You get a much more thorough understanding of how a person will behave in the future," says Lynn.
On-board with care
When a new hire seems to be struggling, on-boarding can also be to blame. "Most companies let their new hires sink or swim, and as a result many sink. Some form of integration support reduces the chances of failure, accelerates learning, and increases the contribution of any new hire," says Fernández-Aráoz. The right onboarding approach can help you get immediate value from your new hire and position her for success. But perhaps the most important element is expectation-setting. "Especially with knowledge workers and younger workers, there is a strong need to communicate both expectations of performance and behavior," explains Lynn.
When it happens anyway...
Sometimes even when you follow all the rules, you may still end up with the wrong person in the job. When you suspect a poor fit, proceed carefully. Start by asking others to corroborate your opinion. Don't start a witch hunt, but discreetly ask if they see the situation in the same way. Then, once you've identified where the mismatch is, ask yourself if the problem is coachable "People are ineffective for many reasons and some of those reasons are definitely correctable," says Lynn.
"Unless it's an egregious breach of values, generally coaching and reiterating behaviors and performance expectations should be the first step." Provide feedback to the new hire early on and lay out a plan for getting her up to speed in the problem areas. If the issues persist, consider finding a more appropriate role for her in your organization.
In the worst cases, termination may be your only option, particularly if you find that the problem is not coachable, if you are unwilling to further invest in coaching, or if the error or behavior is intolerable. It should be your last resort, however. "Most likely as the hiring manager you have a large share of responsibility for the mistake, and thus should never fire a person without thoughtful consideration," says Fernández-Aráoz. If you have to let someone go, take a hard look at the hiring process you used and figure out how to change it next time around.
Principles to Remember
Do:
- Identify the competencies an ideal candidate needs
- Ask interview questions that uncover the drivers behind the candidate's past and future behavior
- Give the new hire early feedback about her performance
Don't:
- Prioritize technical skills over relational ones
- Assume you've made a bad hire without checking your perception with others
- Immediately move to termination, without first considering coaching or transferring
Case Study #1: The value of sleeping on it
Roxanne Bond, the Executive Director of HR at USAA Real Estate Company, works closely with her hiring managers each time there is an open position. Roxanne's group developed and refined a sophisticated and efficient hiring process that starts with building a list of the competencies needed for each position. The company has a great track record with little turnover and a strong, inclusive company culture. However, USAA Real Estate Company is like all fast-paced and busy companies and hiring managers often feel urgency when they have to fill a position. Last year, a hiring manager needed to fill a heavy financial role and wanted someone with the technical skills and experience to begin right away. The job came down to two candidates: Sarah and Amanda*. Both had accounting backgrounds but Sarah had more experience doing the tasks that the role required. The hiring manager was leaning toward her even though a few red flags came up in her interview. In response to questions about past mistakes, Sarah indicated that she was overly sensitive to criticism. In response to the same questions, Amanda showed she took responsibility for her actions and had a positive attitude.
Roxanne strongly urged the hiring manager to consider Sarah's responses and whether her leg up in experience was worth the risk. She gave her the night to think about it and when they met the next day, they decided to go with Amanda after all. The hiring manager thought that she could coach Sarah's behavioral issues but realized that doing so would take an enormous amount of time — time that would be better spent helping Amanda get up to speed on job tasks. Roxanne is proud of the careful process that USAA Real Estate Company takes when it comes to hiring: "We haven't had a bad decision in years and it goes back to the preventative approach we take."
*names have been changed
Case Study #2: A rookie mistake turns into a valuable lesson
A few years back, Jennifer DeLury Ciplet was appointed as the Executive Director of NISGUA (Network in Solidarity with the People of Guatemala). The organization, which advocates for human rights in Guatemala through speakers' tours, legislative work, and publications, was on the cusp of a transformation. NISGUA's supporters had traditionally been older and white and had gotten involved in the organization's work through other faith-based groups. The board wanted Jenn to help build new alliances with new constituencies — younger, immigrant populations. It was a classic customer-diversification issue. Jenn took the task seriously and, when she needed to fill a new programs position, intentionally looked for someone from the new population they were trying to reach. While she didn't formally define the required capabilities, she had a strong sense of the type of person they needed. She was thrilled when she found someone who seemed to embody the organization's new direction, and had what Jenn thought were all of the right technical skills.
Once he started however, Jenn realized that, while the new hire represented the future of the organization, NISGUA was not there yet. She needed someone who could bridge the gap; to still spend time on the phone with traditional supporters while also attending events to connect with a younger audience. This required deep cross-cultural skills that the new hire did not have. A month into his tenure, Jenn realized she'd made a mistake — the new hire was more of an activist than a relationship-manager. Fortunately, NISGUA has a 90-day probationary period. Jenn did a 360 review to get input from everyone he was working with found she wasn't the only one concerned about fit. She shared the feedback with him, explained the mistake she had made, and said that he wouldn't be asked to stay.
When looking for his replacement, Jenn had a far better understanding of the job and formally defined the required capabilities. "I was more clued in to what the job really required," she said. She advertised explicitly for cross-cultural competencies and asked scenario questions in the interview that demonstrated those skills. The next person she hired was ideal — she stayed with the organization for two years (only leaving when her husband's job was relocated) and helped guide the organization through its transformation.
Access Content Source: http://blogs.hbr.org/hmu/2010/05/how-to-prevent-hiring-disaster.html?cm_mmc=npv-_-DAILY_ALERT-_-AWEBER-_-DATE
pinEdit Evaluation 5.0.0701
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http://dreamlearndobecome.blogspot.com This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Saturday, November 14, 2009
Seven Rules For Succeeding As A Brand-New Leader - Forbes.com
Seven Rules For Succeeding As A Brand-New Leader - Forbes.com
Leadership< Seven Rules For Succeeding As A Brand-New Leader
Michael D. Watkins, 11.04.09, 05:05 PM EST >
You must do certain things even before you start the job. >
The actions you take during your first few months in a new role have a major influence on whether you ultimately succeed or fail. Transitions are pivotal times, in part because they are when everyone expects change to occur. They're also times of great vulnerability, when new leaders lack established working relationships and detailed knowledge of their new roles. If you fail to build momentum during your transition, you will face an uphill battle from then on. >
What does it take to make a successful transition into a new role? My research has led me to compile seven rules that can help any newly appointed leader take charge more effectively: >
Rule 1: Leverage your time before entry.>
Your transition begins during the selection process when you're being picked for the job, not when you formally enter the organization. If you fail to use the time before your move effectively, you'll undermine your ability to get on top of the job right from the start. It's a priceless period for absorbing information about your new organization and beginning to plan. Wise new leaders therefore use the time between the decision to take a new position and the formal start date to jump-start the transition process. >
Rule 2: Organize to learn. >
Taking on a new role can feel like sailing into a dense fog. You can see only a short distance and must exercise great caution as you strive to get your bearings. Because expectations for you are high and your time is precious, you must be an active learner. This means organizing to learn as efficiently as possible everything you need to learn about your new role. Plan early on to focus on three distinct types of learning: technical, political and cultural. Technical learning means understanding products, markets, customers, strategy and operations. Political learning means assessing how decisions are made, understanding who is most influential and identifying key sources of power. Cultural learning means understanding your new organization's norms and values, its accepted ways of working and all the habits that make its character unique. >
Rule 3: Secure early wins. >
By the end of your first few months on the job, you will have to have made substantial progress energizing people and focusing them on solving the business's most pressing problems. It is crucial that people see momentum building from the start. Tangible improvements motivate employees, encouraging them to try for still more and better. So plan to secure early wins by identifying significant problems that can be tackled in relatively little time. Their solutions must yield identifiable operational and financial improvements in performance. >
Rule 4: Lay the foundation for success. >
Early wins will help you get off to a good start, but they won't suffice for continued success. You must also lay a foundation for the deeper changes that can bring sustained improvement in your organization's performance. Your efforts during the first six months to lay that foundation must focus on building the team, transforming key structures and processes and developing all the skills you yourself will need to achieve your goals. >
Rule 5: Construct a personal vision. >
To get people to buy in and go the extra mile, you need to conceive a personal vision for your organization and make it a shared vision. You do this through cycles of observation, imaginative visualization and clarification. The new leaders best able to formulate a vision of what they want to accomplish are those who observe most carefully how their new organizations work. Thoughtful observation of the situation at hand, and hard-headed assessment of potential threats and opportunities, enables you to imagine--and communicate--what might be. >
Rule 6: Build alliances. >
You can only transform an organization if powerful people and groups find that helping you do so is in their own interest. New leaders can learn and plan, but they can achieve little on their own. Armed with knowledge of the political landscape, reach out and consolidate potential sources of support. Strive to convince those who can be convinced. Early in the transition, many people will be neither dedicated supporters nor implacable opponents. They will be indifferent or undecided--and, hence, persuadable. >
Rule 7: Manage yourself >
Finally, knowing and managing yourself is as important as knowing and managing the organization. The physical demands of a transition are high as you log endless hours traveling and attending meetings and face ever more work. The emotional demands are also great as you try to cope with not only challenges at work but also disruptions in the usual rhythms of life at home. You must therefore prepare for the emotional burden of transition by developing ways to maintain your equanimity. The key is to build the right networks for advice and counsel that can help you to exercise clear-headed judgment, stay focused and maintain emotional evenness. >
It's up to you. >
Success in putting these seven rules into practice won't guarantee a smooth transition. Even the best-laid plans can go awry. But care in planning and carrying out a transition can substantially improve your chance of success--and your chance to get opportunities to make further transitions in the future. >
Michael D. Watkins is the author of Your Next Move: The Leader's Guide to Navigating Major Career Transitions. He is co-founder of Genesis Advisors, a leadership development firm in Newton, Mass., that specializes in transition acceleration programs and coaching. His previous books include The First 90 Days: Critical Success Strategies for New Leaders at All Levels and The First 90 Days in Government: Critical Success Strategies for New Public Managers at All Levels. >
Access Original Article: http://www.forbes.com/2009/11/04/new-job-success-leadership-ceonetwork-employment.html?partner=executive_picks_newsletter
***********************************************************************
http://dreamlearndobecome.blogspot.com This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Leadership< Seven Rules For Succeeding As A Brand-New Leader
Michael D. Watkins, 11.04.09, 05:05 PM EST >
You must do certain things even before you start the job. >
The actions you take during your first few months in a new role have a major influence on whether you ultimately succeed or fail. Transitions are pivotal times, in part because they are when everyone expects change to occur. They're also times of great vulnerability, when new leaders lack established working relationships and detailed knowledge of their new roles. If you fail to build momentum during your transition, you will face an uphill battle from then on. >
What does it take to make a successful transition into a new role? My research has led me to compile seven rules that can help any newly appointed leader take charge more effectively: >
Rule 1: Leverage your time before entry.>
Your transition begins during the selection process when you're being picked for the job, not when you formally enter the organization. If you fail to use the time before your move effectively, you'll undermine your ability to get on top of the job right from the start. It's a priceless period for absorbing information about your new organization and beginning to plan. Wise new leaders therefore use the time between the decision to take a new position and the formal start date to jump-start the transition process. >
Rule 2: Organize to learn. >
Taking on a new role can feel like sailing into a dense fog. You can see only a short distance and must exercise great caution as you strive to get your bearings. Because expectations for you are high and your time is precious, you must be an active learner. This means organizing to learn as efficiently as possible everything you need to learn about your new role. Plan early on to focus on three distinct types of learning: technical, political and cultural. Technical learning means understanding products, markets, customers, strategy and operations. Political learning means assessing how decisions are made, understanding who is most influential and identifying key sources of power. Cultural learning means understanding your new organization's norms and values, its accepted ways of working and all the habits that make its character unique. >
Rule 3: Secure early wins. >
By the end of your first few months on the job, you will have to have made substantial progress energizing people and focusing them on solving the business's most pressing problems. It is crucial that people see momentum building from the start. Tangible improvements motivate employees, encouraging them to try for still more and better. So plan to secure early wins by identifying significant problems that can be tackled in relatively little time. Their solutions must yield identifiable operational and financial improvements in performance. >
Rule 4: Lay the foundation for success. >
Early wins will help you get off to a good start, but they won't suffice for continued success. You must also lay a foundation for the deeper changes that can bring sustained improvement in your organization's performance. Your efforts during the first six months to lay that foundation must focus on building the team, transforming key structures and processes and developing all the skills you yourself will need to achieve your goals. >
Rule 5: Construct a personal vision. >
To get people to buy in and go the extra mile, you need to conceive a personal vision for your organization and make it a shared vision. You do this through cycles of observation, imaginative visualization and clarification. The new leaders best able to formulate a vision of what they want to accomplish are those who observe most carefully how their new organizations work. Thoughtful observation of the situation at hand, and hard-headed assessment of potential threats and opportunities, enables you to imagine--and communicate--what might be. >
Rule 6: Build alliances. >
You can only transform an organization if powerful people and groups find that helping you do so is in their own interest. New leaders can learn and plan, but they can achieve little on their own. Armed with knowledge of the political landscape, reach out and consolidate potential sources of support. Strive to convince those who can be convinced. Early in the transition, many people will be neither dedicated supporters nor implacable opponents. They will be indifferent or undecided--and, hence, persuadable. >
Rule 7: Manage yourself >
Finally, knowing and managing yourself is as important as knowing and managing the organization. The physical demands of a transition are high as you log endless hours traveling and attending meetings and face ever more work. The emotional demands are also great as you try to cope with not only challenges at work but also disruptions in the usual rhythms of life at home. You must therefore prepare for the emotional burden of transition by developing ways to maintain your equanimity. The key is to build the right networks for advice and counsel that can help you to exercise clear-headed judgment, stay focused and maintain emotional evenness. >
It's up to you. >
Success in putting these seven rules into practice won't guarantee a smooth transition. Even the best-laid plans can go awry. But care in planning and carrying out a transition can substantially improve your chance of success--and your chance to get opportunities to make further transitions in the future. >
Michael D. Watkins is the author of Your Next Move: The Leader's Guide to Navigating Major Career Transitions. He is co-founder of Genesis Advisors, a leadership development firm in Newton, Mass., that specializes in transition acceleration programs and coaching. His previous books include The First 90 Days: Critical Success Strategies for New Leaders at All Levels and The First 90 Days in Government: Critical Success Strategies for New Public Managers at All Levels. >
Access Original Article: http://www.forbes.com/2009/11/04/new-job-success-leadership-ceonetwork-employment.html?partner=executive_picks_newsletter
***********************************************************************
http://dreamlearndobecome.blogspot.com This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Thursday, October 8, 2009
Should You Rehire Former Employees? - Conversation Starter - HarvardBusiness.org
Should You Rehire Former Employees? - Conversation Starter - HarvardBusiness.org
Harvard Business Publishing
Voices » Conversation Starter » Should You Rehire Former Employees? >
Conversation Starter Should You Rehire Former Employees?
1:42 PM Wednesday October 7, 2009
by Claudio Fernández-Aráoz >
Sure, Apple Computer needs all the help it can get in the tough tablet-computing market, but was it really such a good idea to bring back a former employee, one who'd been a key developer of the failed Newton PDA, as its VP of product marketing? >
My answer is a qualified yes. The way the company reintegrates this prodigal executive will have a lot to do with how good an idea it turns out to be, of course. But by bringing him back at all, Apple gets the following: a talented individual who understands its unquestionably unique culture, who was wildly successful in a different setting (at Nike), and who perhaps brings new perspectives and skills to the table as a result. >
It's still fairly rare for companies to rehire former employees, but this practice will likely become more frequent as organizations try to rebound post recession. Organizations will have to be much more creative in finding candidates for strategically important positions — and former employees clearly represent a vast pool. These "outside-insiders" can walk a fine line: balancing a deep understanding of the company's culture with the right amount of perspective and independence to push the changes necessary for organizational growth. >
There are always questions to deal with: Why did he leave in the first place? Won't he leave again? And what message are we sending to the rest of the organization if we hire him back? Some firms even have an unwritten policy to never hire former employees; people will then think twice before walking out, the wisdom goes. Obviously, such a policy — publicly stated or not — can backfire: It's never healthy to stay in a company just because you might be stigmatized as a traitor if you leave. Similarly, talent managers should avoid the Machiavellian temptation to bring someone back just to prove a point — sending some sort of message about the inevitable failure that those who leave will face until they return to the organization's "special" setting and culture. >
Potential emotional and organizational pitfalls are everywhere in this hiring scenario. So how can you successfully bring back former employees? >
(1) Check for fit. No candidate is good or bad in absolute terms; like anyone else, a rehired employee will succeed or fail depending on whether she's right for a particular role. If her skills properly match the challenges at hand, and if her temperament fits the culture, the chances of her succeeding are much, much greater. >
However, hiring managers will want to avoid two traps: assuming too much and investing too much. Research shows that "known" candidates — returning executives as well as executives promoted from within — often aren't assessed as rigorously as "unknown" ones. Hiring managers mistakenly assume they have enough institutional knowledge about the person; in reality, that information is from a different time and context, when the organization was facing different challenges. Additionally, in the case of returning colleagues, hiring managers sometimes oversell — investing too much of their efforts to attract a former colleague, the comfortable option rather than the best option for the business challenge at hand. >
Before bringing a former colleague back into the fold, hiring managers need to clearly define the position to be filled — the managerial tasks, challenges, and priorities, and the skills required. They need to conduct a disciplined assessment of the former employee — a series of well-structured interviews and proper reference checks. What were the conditions of his departure? An employee who left graciously will be gladly welcomed back; one who left less graciously will have a harder time, and should, in general, be avoided. >
Yes, it will be a bit uncomfortable to go through an impersonal and formal due-diligence process with someone with whom you've already worked. Yes, it will look almost impolite to suggest that the company "distrusts" someone who is humble enough to agree to come back. But a thorough, reliable assessment is of paramount importance. The consequences of failure for a returning employee can be extremely frustrating, for all involved: senior executives may incur the wrath of loyal insiders, some of whom had been passed over for promotion and all of whom may end up questioning management's judgment. And no employee enjoys the long, disappointing, emotionally wrought march out of the building — never mind when it's a repeat performance. >
(2) Support the integration. Once you are convinced that the former employee is fully qualified for the job, and better than the best potential internal and external alternatives, you should still prepare the ground for a soft landing — as you would for any new hire. >
- 1. Clearly communicate to the rest of the company, and particularly to those who would see themselves as potential candidates for the position, the reasons for the search and ultimately for hiring back the former employee.
- 2. Properly brief the returning employee about the current company situation (the organization's structure, goals, and critical processes) and deliver to the individual a very explicit mandate (for immediate priorities and objectives, and for long-term aspirations). Particularly when it comes to senior-level positions, it's important that the returning executive be given the time and resources to build (and rebuild) relationships.
- 3. Follow up, at least quarterly, with the returning employee. Monitor the level of organizational support she's getting, how relationships are (or aren't) developing, and so forth. Without these regularly scheduled check-ins, the returning employee may be reluctant to ask for help. >
Returning employees can be a valuable source of breakthrough ideas and performance excellence — but only if you follow a disciplined process for bringing them back into the fold. With the proper due diligence, the proverbial older children in your company will quickly embrace their prodigal siblings, and everyone will live happily ever after. Without it, well, have you ever heard the story of Cain and Abel? >
Claudio Fernández-Aráoz is the author of Great People Decisions. He is a senior adviser at global executive search firm Egon Zehnder International and a former member of its global Executive Committee.
See original post: http://blogs.harvardbusiness.org/cs/2009/10/should_you_rehire_former_emplo.html#
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http://dreamlearndobecome.blogspot.com This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Harvard Business Publishing
Voices » Conversation Starter » Should You Rehire Former Employees? >
Conversation Starter Should You Rehire Former Employees?
1:42 PM Wednesday October 7, 2009
by Claudio Fernández-Aráoz >
Sure, Apple Computer needs all the help it can get in the tough tablet-computing market, but was it really such a good idea to bring back a former employee, one who'd been a key developer of the failed Newton PDA, as its VP of product marketing? >
My answer is a qualified yes. The way the company reintegrates this prodigal executive will have a lot to do with how good an idea it turns out to be, of course. But by bringing him back at all, Apple gets the following: a talented individual who understands its unquestionably unique culture, who was wildly successful in a different setting (at Nike), and who perhaps brings new perspectives and skills to the table as a result. >
It's still fairly rare for companies to rehire former employees, but this practice will likely become more frequent as organizations try to rebound post recession. Organizations will have to be much more creative in finding candidates for strategically important positions — and former employees clearly represent a vast pool. These "outside-insiders" can walk a fine line: balancing a deep understanding of the company's culture with the right amount of perspective and independence to push the changes necessary for organizational growth. >
There are always questions to deal with: Why did he leave in the first place? Won't he leave again? And what message are we sending to the rest of the organization if we hire him back? Some firms even have an unwritten policy to never hire former employees; people will then think twice before walking out, the wisdom goes. Obviously, such a policy — publicly stated or not — can backfire: It's never healthy to stay in a company just because you might be stigmatized as a traitor if you leave. Similarly, talent managers should avoid the Machiavellian temptation to bring someone back just to prove a point — sending some sort of message about the inevitable failure that those who leave will face until they return to the organization's "special" setting and culture. >
Potential emotional and organizational pitfalls are everywhere in this hiring scenario. So how can you successfully bring back former employees? >
(1) Check for fit. No candidate is good or bad in absolute terms; like anyone else, a rehired employee will succeed or fail depending on whether she's right for a particular role. If her skills properly match the challenges at hand, and if her temperament fits the culture, the chances of her succeeding are much, much greater. >
However, hiring managers will want to avoid two traps: assuming too much and investing too much. Research shows that "known" candidates — returning executives as well as executives promoted from within — often aren't assessed as rigorously as "unknown" ones. Hiring managers mistakenly assume they have enough institutional knowledge about the person; in reality, that information is from a different time and context, when the organization was facing different challenges. Additionally, in the case of returning colleagues, hiring managers sometimes oversell — investing too much of their efforts to attract a former colleague, the comfortable option rather than the best option for the business challenge at hand. >
Before bringing a former colleague back into the fold, hiring managers need to clearly define the position to be filled — the managerial tasks, challenges, and priorities, and the skills required. They need to conduct a disciplined assessment of the former employee — a series of well-structured interviews and proper reference checks. What were the conditions of his departure? An employee who left graciously will be gladly welcomed back; one who left less graciously will have a harder time, and should, in general, be avoided. >
Yes, it will be a bit uncomfortable to go through an impersonal and formal due-diligence process with someone with whom you've already worked. Yes, it will look almost impolite to suggest that the company "distrusts" someone who is humble enough to agree to come back. But a thorough, reliable assessment is of paramount importance. The consequences of failure for a returning employee can be extremely frustrating, for all involved: senior executives may incur the wrath of loyal insiders, some of whom had been passed over for promotion and all of whom may end up questioning management's judgment. And no employee enjoys the long, disappointing, emotionally wrought march out of the building — never mind when it's a repeat performance. >
(2) Support the integration. Once you are convinced that the former employee is fully qualified for the job, and better than the best potential internal and external alternatives, you should still prepare the ground for a soft landing — as you would for any new hire. >
- 1. Clearly communicate to the rest of the company, and particularly to those who would see themselves as potential candidates for the position, the reasons for the search and ultimately for hiring back the former employee.
- 2. Properly brief the returning employee about the current company situation (the organization's structure, goals, and critical processes) and deliver to the individual a very explicit mandate (for immediate priorities and objectives, and for long-term aspirations). Particularly when it comes to senior-level positions, it's important that the returning executive be given the time and resources to build (and rebuild) relationships.
- 3. Follow up, at least quarterly, with the returning employee. Monitor the level of organizational support she's getting, how relationships are (or aren't) developing, and so forth. Without these regularly scheduled check-ins, the returning employee may be reluctant to ask for help. >
Returning employees can be a valuable source of breakthrough ideas and performance excellence — but only if you follow a disciplined process for bringing them back into the fold. With the proper due diligence, the proverbial older children in your company will quickly embrace their prodigal siblings, and everyone will live happily ever after. Without it, well, have you ever heard the story of Cain and Abel? >
Claudio Fernández-Aráoz is the author of Great People Decisions. He is a senior adviser at global executive search firm Egon Zehnder International and a former member of its global Executive Committee.
See original post: http://blogs.harvardbusiness.org/cs/2009/10/should_you_rehire_former_emplo.html#
***********************************************************************
http://dreamlearndobecome.blogspot.com This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Monday, January 26, 2009
Can You Afford the Cost of Mis-hires ?
Can You Afford the Cost of Mis-hires ? >
The Cost of Mis-Hiring: Five times the base salary of a sales rep, twenty-seven times the base salary of an upper-level manager, and between $13MM and $53MM for a CEO, these cost not including the lost value in market capitalization. >
- The average cost of mis-hiring a sales rep earning a $100K base is $500K or five (5) times base salary. >
- The average cost of mis-hiring an upper-level manager is twenty-seven (27) times base comp. >
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
The Cost of Mis-Hiring: Five times the base salary of a sales rep, twenty-seven times the base salary of an upper-level manager, and between $13MM and $53MM for a CEO, these cost not including the lost value in market capitalization. >
- The average cost of mis-hiring a sales rep earning a $100K base is $500K or five (5) times base salary. >
- The average cost of mis-hiring an upper-level manager is twenty-seven (27) times base comp. >
- The average cost of mis-hiring a CEO but not including the declines in stock price: >
- Of a large company is $53 million. >
- Of a mid-range company $22 million. >
- Of a small company $13 million. >
*** Individual Costs of a Mis-hire as defined in one of Bradford Smart’s studies: Cost in hiring; Total paid compensation; Cost of maintaining person in job; Severance; Mistakes, failures, wasted and missed business opportunities; Disruption. >
Topgrading Tips [Volume 4 #1] “Cheetah” CEOs Outperform “Lamb” CEOs >
January 14th, 2009 . by Brad Smart >
Excerpts: >
Our research [on the cost of mis-hires] (Bradford D. Smart, Phd, Smart & Associates) showed the average cost of mis-hiring a sales rep earning a $100,000 base to be $500,000+, or 5 times base comp, [and]the average cost of mis-hiring an upper level manager is 27 times the base comp. [Our numbers did not attempt to calculate] “The Cost of Disruption”(e.g. the cost of impaired morale and trying to figure out new directions).] >
CEO Magazine Research: [Analysis finds] the average cost of [mis-hiring] a CEO of a large company is $53 million, for a mid-range company $22 million, and for a small company $13 million. Appropriately, the writers noted that when there is a CEO change, 25% of the other executives depart – zoom, the costs go up. And there are 6-figure signing bonuses; zoom, the costs go higher. And the average severance is 3 times annual salary for large companies, 2 times for mid-sized companies; more zoom…. The Chief Executive [Magazine] authors put pen to paper and came up with numbers for “disruption.”… Zoom, up go the mis-hire costs. >
And those high costs of mis-hire do NOT include the cost when the stock declines. Booz Allen Hamilton research shows an average stock decline of 10%+ when there is a CEO change of a company that has been doing well. Downward Zoooom. Can the seriousness of mis-hires at the top get any worse? Yes! … >
The Chief Executive authors add some startling statistics … 40% of CEOs are gone within 18 months, 64% fail to achieve the objectives for which they were hired. >
Read full article: http://blog.smarttopgrading.com/ >
----------------------------------------------------
CEO Magazine >
The Costs of CEO Failure >
BY Nat Stoddard And Claire Wyckoff
Issue Date: November/December 2008, Posted On: 12/12/2008 >
“The impact of any change in leadership on both the company and the individual are huge” >
Read full article here: http://www.chiefexecutive.net/ME2/dirmod.asp?sid=&nm=&type=Publishing&mod=Publications%3A%3AArticle&mid=8F3A7027421841978F18BE895F87F791&tier=4&id=FD0F481A1CA94DAB9B37216C2EA15F28
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This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Sunday, January 11, 2009
The Inner Life of Leaders
http://hbswk.hbs.edu/item/5970.html >
The Inner Life of Leaders
Q&A with: Abraham Zaleznik
Published: August 13, 2008 Author: Martha Lagace >
Executive Summary:"Even when leaders try to hide and disguise their character, their traits are recognizable to others," says HBS professor emeritus Abraham Zaleznik. His new book, Hedgehogs and Foxes: Character, Leadership, and Command in Organizations, explores the internal complexities of people in control. Plus: Book excerpt. Key concepts include:>
Hedgehogs know one big thing while foxes know many things.> Applied to leadership, hedgehogs reduce reality to one single principle, while foxes are prepared to adapt to a complex view of the world. >
An individual's character is outwardly represented while it is a product of development, starting with early childhood.>
Read Full Article: http://hbswk.hbs.edu/item/5970.html
About Faculty in this Article:
Abraham Zaleznik is the Konosuke Matsushita Professor of Leadership, Emeritus, at Harvard Business School.
Abraham Zaleznik - Faculty Research Page
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
The Inner Life of Leaders
Q&A with: Abraham Zaleznik
Published: August 13, 2008 Author: Martha Lagace >
Executive Summary:"Even when leaders try to hide and disguise their character, their traits are recognizable to others," says HBS professor emeritus Abraham Zaleznik. His new book, Hedgehogs and Foxes: Character, Leadership, and Command in Organizations, explores the internal complexities of people in control. Plus: Book excerpt. Key concepts include:>
Hedgehogs know one big thing while foxes know many things.> Applied to leadership, hedgehogs reduce reality to one single principle, while foxes are prepared to adapt to a complex view of the world. >
An individual's character is outwardly represented while it is a product of development, starting with early childhood.>
"Even when leaders try to hide and disguise their character, their traits are recognizable to others," says HBS professor emeritus Abraham Zaleznik. His new book, Hedgehogs and Foxes: Character, Leadership, and Command in Organizations, explores the internal complexities of people in control. Plus: Book excerpt.
>Read Full Article: http://hbswk.hbs.edu/item/5970.html
About Faculty in this Article:
Abraham Zaleznik is the Konosuke Matsushita Professor of Leadership, Emeritus, at Harvard Business School.
Abraham Zaleznik - Faculty Research Page
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Thursday, December 18, 2008
Catastrophes cost industry $50 billion in 2008, claim 238,000 lives: Swiss Re
http://www.businessinsurance.com/cgi-bin/news.pl?post_date=2008-12-18&id=14826
Business Insurance
Catastrophes cost industry $50 billion in 2008, claim 238,000 lives: Swiss Re
Posted On: Dec. 18, 2008 5:41 AM CST
Michael Bradford
LONDON—Catastrophes have taken more than 238,000 lives in 2008 and cost property insurers more than $50 billion, making the year the second costliest in terms of insured catastrophe losses, a new study by Swiss Reinsurance Co. reveals.>
Natural catastrophes accounted for $43 billion of the total losses and $7 billion were from manmade disasters such as explosions and fires, Swiss Re said in the sigma study.>
The $50 billion in losses rank 2008 as the second costliest year for insurers behind 2005, when heavy storms caused much of the $107 billion in losses paid by insurers, Swiss Re points out.>
Hurricane Ike was the most expensive natural disaster in 2008, causing $20 billion in losses for insurers, the report says. A ruptured pipeline on Varanus Island in Western Australia was the costliest manmade disaster, resulting in losses to insurers and the local economy of at least $1 billion.>
Tropical cyclone Nargis was the deadliest event of the year. The storm that struck Myanmar killed 138,400, Swiss Re says.>
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Business Insurance
Catastrophes cost industry $50 billion in 2008, claim 238,000 lives: Swiss Re
Posted On: Dec. 18, 2008 5:41 AM CST
Michael Bradford
LONDON—Catastrophes have taken more than 238,000 lives in 2008 and cost property insurers more than $50 billion, making the year the second costliest in terms of insured catastrophe losses, a new study by Swiss Reinsurance Co. reveals.>
Natural catastrophes accounted for $43 billion of the total losses and $7 billion were from manmade disasters such as explosions and fires, Swiss Re said in the sigma study.>
The $50 billion in losses rank 2008 as the second costliest year for insurers behind 2005, when heavy storms caused much of the $107 billion in losses paid by insurers, Swiss Re points out.>
Hurricane Ike was the most expensive natural disaster in 2008, causing $20 billion in losses for insurers, the report says. A ruptured pipeline on Varanus Island in Western Australia was the costliest manmade disaster, resulting in losses to insurers and the local economy of at least $1 billion.>
Tropical cyclone Nargis was the deadliest event of the year. The storm that struck Myanmar killed 138,400, Swiss Re says.>
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Thursday, December 11, 2008
Torus CEO spies opportunities from global financial crisis...unprecedented opportunities for new firms to win business and hire top industry staff
http://www.reactionsnet.com/default.asp?Page=23&PUB=274&ISS=25201&SID=715278&LS=EMS228806
NEWS - 10 December 2008Reactions
Torus CEO spies opportunities from global financial crisis...unprecedented opportunities for new firms to win business and hire top industry staff
The fall-out from the global economic crisis is opening up unprecedented opportunities for new firms to win business and hire top industry staff, Clive Tobin, chief executive officer of recently-formed Torus Insurance has told Reactions... Since its inception the global financial crisis has hit hard with many firms recording large losses and seeing capital dwindle.
"The fall-out at various companies in the market place has meant that there have been opportunities, and there will continue to be opportunities, for new business and the chance to hire people that we would never have envisaged. It's been phenomenal," he said.
"We could never have got the sort of talent that we are nursing in that sort of time otherwise. We're very excited."
See full article at Reactions: http://www.reactionsnet.com/default.asp?Page=23&PUB=274&ISS=25201&SID=715278&LS=EMS228806
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
NEWS - 10 December 2008Reactions
Torus CEO spies opportunities from global financial crisis...unprecedented opportunities for new firms to win business and hire top industry staff
The fall-out from the global economic crisis is opening up unprecedented opportunities for new firms to win business and hire top industry staff, Clive Tobin, chief executive officer of recently-formed Torus Insurance has told Reactions... Since its inception the global financial crisis has hit hard with many firms recording large losses and seeing capital dwindle.
"The fall-out at various companies in the market place has meant that there have been opportunities, and there will continue to be opportunities, for new business and the chance to hire people that we would never have envisaged. It's been phenomenal," he said.
"We could never have got the sort of talent that we are nursing in that sort of time otherwise. We're very excited."
See full article at Reactions: http://www.reactionsnet.com/default.asp?Page=23&PUB=274&ISS=25201&SID=715278&LS=EMS228806
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Wednesday, December 3, 2008
'Onboarding:' Crucial Feedback for Executive HiresAn emerging ritual to measure performance 90, 100, or 120 days into a top manager's new job can stav
http://www.businessweek.com/print/managing/content/dec2008/ca2008122_812881.htm
Headhunters Confidential December 2, 2008, 10:26AM EST
'Onboarding:' Crucial Feedback for Executive HiresAn emerging ritual to measure performance 90, 100, or 120 days into a top manager's new job can stave off disaster or reinforce excellenceBy Joseph Daniel McCool
"I never knew you felt that way." Those words often evince an epiphany that can save a rocky relationship—including one between a high-priced hire and the company that paid the bounty for him or her.
Indeed, those words frequently encapsulate the reaction business executives have when presented with feedback from a so-called onboarding process, which serves up a consensus view of the first impression he or she has made on an employer 90, 100, or perhaps 120 days into a new management role.
Also referred to as executive integration or assimilation, onboarding happens long after the kind of employment orientation intended to familiarize an executive with his or her new colleagues and working environment in the early days of the job. Orientation enables an executive to perform in a new role, whereas onboarding offers the first feedback on how the executive is fulfilling that role.
Avoiding DisasterThis emerging ritual to measure individual performance is critical because it provides the kind of intelligence an executive can use to correct a course of action, setting things right before it's too late. Onboarding amounts to an organizational poll about how a new leader is fulfilling the objectives of his or her role and executing the company's strategic mandate.
A growing body of research suggests that up to 40 percent of externally hired executives fail within the first 18 months. And the stark truth is that the sink-or-swim approach that still pervades management succession simply doesn't work. It exacts a huge toll on organizational performance and productivity.
It makes no sense to spend time and money on an executive search only to leave the individual who eventually accepts the job wholly responsible for figuring out how the company truly operates.
Executive onboarding is essential insurance for employers, executives, and those who recruit them, since all have a vested interest in seeing the manager make a good initial impression. The feedback from an onboarding exercise can be a shot in the arm—if the executive is indeed making a great impression—or a guide to immediate changes in behavior, focus, and everyday work.
CommitmentPutting effective onboarding into practice requires forethought and a commitment to incorporating it into the process of executive hiring and promotion. Employers that decide to use onboarding should make their executive recruiters the first line of communication about that expectation and should include details about the process in the offer of employment. Internal interviewers should also make clear that it's an expectation.
And executives who either accept a new role within their current organization or with a new employer would be wise to start building bridges with new colleagues even before they start their new job. The most successful first impression often is made in the weeks before a new hire reports for duty. Employers should invite that kind of contact between an executive hire and his or her key subordinates.
Unfortunately, upon accepting an offer, many executives decide that it's time for a well-deserved break, and they lose a critical window of opportunity. Making friends and learning about the responsibilities that come with the new role can influence how colleagues perceive an executive's work ethic, management style, and commitment to excellence.
Sooner Might Be BetterEmployers also might consider accelerating the onboarding process. Many consultants argue that effective onboarding happens 90, 100, or perhaps 120 days into an executive's tenure. But there's an argument to be made for doing it at the 60-day mark, the better to learn of mistakes or missed opportunities quickly.
A commitment to onboarding conveys a sense of purpose and an interest in organizational excellence. Companies want executives who fit in and are performing at their peak. They should, therefore, give them the tools to make that possible. For their part, executives should take advantage of whatever resources and information are available to them.
Joseph Daniel McCool is a writer, speaker, and consultant on executive recruiting and corporate management succession best practices. He is the author of Deciding Who Leads: How Executive Recruiters Drive, Direct & Disrupt the Global Search for Leadership Talent, a book exploring the global executive search consulting business and its impact on corporate leadership, executive compensation, and organizational culture and performance. It has been recognized as "one of the 30 best business books of 2008" by Soundview Executive Book Summaries and as a top pick by Business Book Review.
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Headhunters Confidential December 2, 2008, 10:26AM EST
'Onboarding:' Crucial Feedback for Executive HiresAn emerging ritual to measure performance 90, 100, or 120 days into a top manager's new job can stave off disaster or reinforce excellenceBy Joseph Daniel McCool
"I never knew you felt that way." Those words often evince an epiphany that can save a rocky relationship—including one between a high-priced hire and the company that paid the bounty for him or her.
Indeed, those words frequently encapsulate the reaction business executives have when presented with feedback from a so-called onboarding process, which serves up a consensus view of the first impression he or she has made on an employer 90, 100, or perhaps 120 days into a new management role.
Also referred to as executive integration or assimilation, onboarding happens long after the kind of employment orientation intended to familiarize an executive with his or her new colleagues and working environment in the early days of the job. Orientation enables an executive to perform in a new role, whereas onboarding offers the first feedback on how the executive is fulfilling that role.
Avoiding DisasterThis emerging ritual to measure individual performance is critical because it provides the kind of intelligence an executive can use to correct a course of action, setting things right before it's too late. Onboarding amounts to an organizational poll about how a new leader is fulfilling the objectives of his or her role and executing the company's strategic mandate.
A growing body of research suggests that up to 40 percent of externally hired executives fail within the first 18 months. And the stark truth is that the sink-or-swim approach that still pervades management succession simply doesn't work. It exacts a huge toll on organizational performance and productivity.
It makes no sense to spend time and money on an executive search only to leave the individual who eventually accepts the job wholly responsible for figuring out how the company truly operates.
Executive onboarding is essential insurance for employers, executives, and those who recruit them, since all have a vested interest in seeing the manager make a good initial impression. The feedback from an onboarding exercise can be a shot in the arm—if the executive is indeed making a great impression—or a guide to immediate changes in behavior, focus, and everyday work.
CommitmentPutting effective onboarding into practice requires forethought and a commitment to incorporating it into the process of executive hiring and promotion. Employers that decide to use onboarding should make their executive recruiters the first line of communication about that expectation and should include details about the process in the offer of employment. Internal interviewers should also make clear that it's an expectation.
And executives who either accept a new role within their current organization or with a new employer would be wise to start building bridges with new colleagues even before they start their new job. The most successful first impression often is made in the weeks before a new hire reports for duty. Employers should invite that kind of contact between an executive hire and his or her key subordinates.
Unfortunately, upon accepting an offer, many executives decide that it's time for a well-deserved break, and they lose a critical window of opportunity. Making friends and learning about the responsibilities that come with the new role can influence how colleagues perceive an executive's work ethic, management style, and commitment to excellence.
Sooner Might Be BetterEmployers also might consider accelerating the onboarding process. Many consultants argue that effective onboarding happens 90, 100, or perhaps 120 days into an executive's tenure. But there's an argument to be made for doing it at the 60-day mark, the better to learn of mistakes or missed opportunities quickly.
A commitment to onboarding conveys a sense of purpose and an interest in organizational excellence. Companies want executives who fit in and are performing at their peak. They should, therefore, give them the tools to make that possible. For their part, executives should take advantage of whatever resources and information are available to them.
Joseph Daniel McCool is a writer, speaker, and consultant on executive recruiting and corporate management succession best practices. He is the author of Deciding Who Leads: How Executive Recruiters Drive, Direct & Disrupt the Global Search for Leadership Talent, a book exploring the global executive search consulting business and its impact on corporate leadership, executive compensation, and organizational culture and performance. It has been recognized as "one of the 30 best business books of 2008" by Soundview Executive Book Summaries and as a top pick by Business Book Review.
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
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