Did you know companies with more diverse management teams have 19 percent higher revenues due to innovation? Did you also know a recent Gartner study found 75 percent of organizations with front line decision-making teams that reflect a diverse and inclusive culture will exceed their financial targets? In fact, gender-diverse and inclusive teams outperformed gender-homogeneous, less inclusive teams by 50 percent on average.
Employees today yearn to be connected to both their employer and to something broader and bigger than what may be found in their job description. In fact, a recent survey found that 74 percent of workers agree that their job means more to them than just a way to earn a living. And, 78 percent say that feeling a personal connection with the company’s culture and values will determine their decision to accept a job or not.
If the “gig economy” was the hottest trend in 2018, it’s fair to say “agile” is taking its place in 2019. The fact is, the term “agile” can mean a lot of things these days – from operating within an Agile Framework, flattening the organizational chart to integrating gig workers and other non-traditional talent pools into the workforce. But, at its core, agility is the ability of organizations to be more flexible and adaptive to rapidly changing business dynamics. And, it is arguably a key characteristic required for future business success.
When it comes to change management, half the battle is making sure you have the right leaders in place. And that means looking carefully at their competencies, behavioral styles, and values.
To help with that challenge, my colleagues and I have created a change-agent profile. In our work assessing people for the right job fit, we’ve collected and analyzed extensive data on Fortune 1000 executives across a wide spectrum of industries. Here’s what we’ve discovered about change agents in that senior group:
In our latest comprehensive guide, Best Practices for Boards, we provide insights and recommendations for corporate board governance. Whether you are a private, public, or non-profit board, Best Practices for Boards has extensive resources to enhance the effectiveness of your board. Our guide also contains information on the following areas...
St. Patrick’s Day heralds in a time of celebration, parades and for many, the hope of attaining the “luck of the Irish” – a phrase commonly thought to mean “extreme good fortune.” However, it originated during the gold and silver rush years in the 19th century and referred to Irish and Irish American’s who were among the most famous and successful miners. The phrase carried with it a certain tone of derision, as if to say, only by sheer luck as, opposed to brains, could these Irish folks succeed!
The best gift you can give your executives who may appear to “have everything” is the gift of feedback. Chances are, they don’t have it.In my experience, most executives don’t receive feedback because it’s a hard gift to give. After all, executives tend to be successful, smart and confident people. And they're in positions of power — namely, positions of power over people’s careers. So, barring a resolute and inviting effort on the part of executives, the valuable gift of feedback goes unopened.
As a leader in the staffing sector, you know all too well the importance of finding the best-fit hires for your clients. But, what about your own staff? Does your staffing firm believe having high turnover of recruiters and professional staff is just “part of the business?”
Leading Courageously and Bringing Others Along
Optimizing leadership skills and building a deep pipeline of executive-ready talent is more critical than ever, given a fast-and-ever-evolving healthcare environment. With the introduction of new laws, regulations, care coordination, and payment models, new leadership styles need to be implemented to effectively lead and manage in the new paradigm. However, alongside the need for modern leadership competencies is the need to address an impending talent shortage of leader ready talent. In fact, executive turnover is expected to increase due to a high number of leaders eligible for retirement, combined with a shortage of senior leader ready talent.
To survive, and thrive, healthcare organizations must take advantage of all its institutional talent. Yet, this can only be achieved if leaders widely embrace the need to address the issue of leadership development. Healthcare organizations, like many, are slow to invest resources to identify and develop next generation talent. This is problematic in light of our research that shows a significant gap between what directors do well and what is needed to be a successful executive. This is a classic case of "what got you here, won't get you there".
A recent study highlights a pervasive challenge facing the pharmaceutical and life sciences industry, and that is a lack of talent. The study found that 51 percent of CEOs of life sciences and pharma companies admit to greater difficulties attracting and retaining the right people, more than any other industry in the study.
In fact, one of the greatest challenges on the horizon for pharmaceutical and life science companies is filling vacant positions and decreasing the time-to-fill for those positions. On average, pharma hiring decision-makers report they are currently 14 percent understaffed and have roughly 212 open positions at this time. Additionally, they report that it takes an average of 105 days, essentially 3 ½ months, to recruit and hire non-executive positions.
These lengthy vacancies are quickly eating away at corporate profits. In fact, companies lose $500 a day for every job that stays vacant. Given the average time-to-fill among pharma decision-makers is 105 days, and that amounts to $52,000 per vacancy.
Lack of Right Skills and Culture Fit Key Contributors
For many pharma decision-makers, sourcing good candidates is hard and finding qualified applicants can be even harder. Yet, finding the best-fit talent both in culture and skill-set can be downright excruciating. Consider that 76 percent of Pharma HR-decision makers agree, “when positions become available at my organization, we struggle to find people whose skills match the job requirements,” and 70 percent say, “we struggle to find people who are a good cultural fit.”
Pharmaceutical and life sciences leaders will need to increasingly leverage data and analytics to bring greater accuracy, efficiency and predictability to the hiring process. As pharma companies continue to struggle with turnover, open positions and costly vacancies, they simply can’t take a chance on anyone who doesn’t measure up.
In the age of lean organizations, most work groups in existence today are being pushed to evolve toward a team philosophy as the span of control of management widens. From executive teams and project teams to marketing and sales teams, team structures are vital to the way most organizations organize and deliver their work. However, all teams are not created equal. A key distinguisher among successful companies is their ability to create and maintain high-performing, effective work teams to deploy complex business strategies.
High-maintenance high-performers: Working with a high-performer can be either exhilarating or exasperating. It all depends on how you react to the challenges that come with it. Most likely, this high-performer can be also high-maintenance – which has its benefits along with its drawbacks.
Usually high performers are inspiring, charismatic, focused, direct and driving. Yet with their high-maintenance flaws like being confrontational, demanding, and impatient, it’s often hard to align goals and strategies with such roadblocks between the lines of communication.
People-reading Skills For Salespeople – Subtle Cues That Can Help You Close More Sales
Salespeople constantly hear that they must know our prospects and sell to them in the way in which they want to be sold. However, within the short time span of an initial meeting or lunch, many salespeople don’t have much time to observe, much less make qualified decisions about the communication methods of those we meet. The DISC Behavioral Profile can offer some much needed assistance in making quick assessments. Using the cues below, you can easily gather some basic information to help you tailor your sales approach “on the fly” and potentially close more sales.
It's that time of year again, the time when everything seems new and we all begin to dream of ways to plan (and accomplish) what we’ve let “slide” during the old year. For managers, New Year’s resolutions can be extremely valuable. However, many simply make broad plans to close more sales, get more done during the day or have better working relationships without considering how to accomplish those goals. Here are some basic skills you and your team can improve upon in 2017 that will have a profound, positive effect on everything else you do.
Have you ever wondered why some teams achieve their goals practically every time while others seem doomed to repeated failure? One explanation could be the makeup of the team. All teams are created from a variety of people and thus a variety of personality and work styles. When these styles work in harmony, a synergy is present that inevitably leads to success. When the styles are in conflict so is the team. That leaves the question, “What can I do to ensure the creation of balanced teams?” Generally speaking, there are four team-player styles. While each style has its own set of strengths and weaknesses, some work in accord with each other and some do not. In order to ensure you create balanced teams, look to these building blocks for help with laying a sound foundation.