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April 28, 2016

How Leaders Should Handle Company Downturn

Effectively dealing with challenges or struggles when a business is undergoing a massive economic or structural downturn is a incredibly difficult task for leaders regardless of industry. To create and maintain long-term success, be sure to follow these steps to stabilize workflow internally, while also producing an atmosphere that is conducive to further business engagements.

Along with utilizing emotional intelligence throughout these various processes, using a concept titled “strategic empathy,” allows leaders to project an interesting balance of both the individual employee and the overarching business goals. Emotional intelligence is also a key component to remember as you maintain business relationships with employees, upper management officials and employees who report directly to you.

Appreciate honesty
Even if sometimes honesty in the workplace can be frowned upon, as your company undergoes this transition, be sure to value and highlight the importance of truthful advice, thoughts, or ideas during meetings. Although you must listen at every level, the best leaders look carefully for that middle ground or middle manager that deconstruct whatever is going on internally is a great way to move forward and grow to better times.

Anxiety
In addition to leaders being anxious about the company’s future, keep in mind that employees of all levels are aware of the business’ current state. While there is a huge possibility you may be experiencing a huge amount of anxiety, take a deep breath and be the role model for your team. This in turn will quell any nervousness, anxiety or doubts your employees may be experiencing.

Fix whatever is broken
One mistake that many leaders fail to address properly is fix or deal with the issue before it spirals out of control. Utilizing decisiveness as a salient tool is the best way to align your verbal confirmations with intelligent, well-thought out action.

Outside perspectives
Receiving advice from other coworkers, employees or leaders internally can be quite useful, but this information can be somewhat partial. Keeping an eye out for objective perspectives that can offer unbiased insight in this business situation can create a level of awareness to issues you may be overlooking. Peers, friends from other companies who have undergone a similar experience, and leaders in different industries can offer sound insight that has the potential of guiding your company through this difficult time.

Collective effort
Another important step to take while your business is struggling is to create at atmosphere built around working towards a common goal. Establishing a common, single-focused mindset can not only appease everyone’s conscious a bit, but also augment positivity across the board. Challenges like these will test your strength, perseverance and dedication as a leader in your respective field.

March 20, 2016

How Leaders Should Support Internal Hires

When hiring external candidates for various open positions at a company, there is a certain process that allows for support, training and structure offered to the new employee regardless of department. Unfortunately, far too commonly internal hires lack various forms of structure which is generally offered to employees who come externally from other firms, companies or organizations.

Unlike internal hires, external hires received intensive onboarding support, briefings on how the business or organization operates and emotional support to assimilate to the new company culture. In many companies, the process related to helping internal hires or employees to adjust to their new job was often times less prioritized for resources to help guide newly employed external candidates.

Faulty leadership can create a mentality for new internal hires based on the “sink or swim” notion that definitely is more detrimental to not only, the employee, but also for the department she/he is currently affiliated with. This overall lack of emotional support in various areas is prone to not only a high turnover, but, in addition, a great loss of talent that has not been properly fostered in a nurturing way geared towards long- term success.

As an increasing amount of companies and organizations are realizing this fault in what is called their “inboarding process,” this provides an ideal time for leaders to initiate the necessary changes in order to alter the ineffective nature of the process in place.

According to a recent study at Genesis Advisers categorizing around 500 leading HR companies, roughly a third of new hires at any given company are employees from other internal departments. One very useful way for leaders to rectify this lack of support in this employee transitional phase is to most effectively “assess transition risk” in order for every party involved to benefit from this internal transfer.

The first step for leaders to better understand and assess transition risk is to create a model to frame major shifts in the company. These shifts can include promotions, business deals between departments and their brief job history. With all these factors in mind, this could develop into an essential tool to decipher the kind of support need for internal hires.

The main takeaway from this assessment of the transitional risk model is to not only better set priorities in a more effective way, but also for leaders to dismantle to the ongoing politics or setbacks in departments where internal transfers are made. This will in turn create a more holistic level of awareness across various areas to improve both individual and professional performance.

February 17, 2016

Leading Younger, Junior Employees to Excel

Meeting the demands of growing market can be a bit hard to maneuver, but with the increase of junior staff making their way into the workforce, a set plan to ease a clear onboarding process in place is vital. Contrary to what some hiring professionals may say, enthusiasm, mental freshness and overall eagerness to learn new material all are great qualities that younger professionals contribute to a growing company or brand.

As leaders, it is our responsibility to effectively implement a strategic plan in order to for these young, newer professionals while also promoting a work environment which allows your business to continue growing.

Business experience recommended

Throughout the hiring process, it may be routine to sometimes hire the person with the most enthusiasm or passion, but it is important to reevaluate the young professional’s previous work experience. On paper it may seem like the best option to hire an employee who just graduated university, however once this person is onboarded, be prepared for a learning curve on their behalf. Since these new professionals have little or minimal work experience, mistakes are a common way for these employees to learn. At the same time, this could also interfere with efficiency on both micro and macro levels within the company.

Training

Even if the training process is a work in progress, providing these young professionals with consistent, useful training is the only way for them to receive an encompassing understanding of their role as an entry level employee. Although it does take a fair amount of time for the employee to grow into their role comfortably, steady training with either one or two upper level management is a productive way for them to also understand the inner workings of the company.

No one knows it all

A common mentality for young professionals who have recently entered the workforce is that they are simply unaware of how to execute most of their job. Younger staff may be more likely to affirm everything is going well with self-assurance instead of openly addressing any lingering questions or concerns they may have to avoid showing any signs of “weakness.”

In the leadership position, it is imperative to make it known to your younger employees that your interactions with them are based on two-way communication, where it is essential for them to raise up any issues at hand. As a result, your direct reports will be more inclined to share concerns with you as means to make the fresh, business relationship more stable through a steady workflow between you and your new hire.

February 10, 2016

Utilizing Open-mindedness in Leadership

Intelligence is without a doubt one of the most fundamental properties that help others strive to be better while simultaneously improving the company’s overall mission through knowledge. Unfortunately, it has been a common trend for highly intelligent CEO’s to make a set of mistakes that ultimately have led to the downfall of their companies. To illustrate this point, some of the most global, well known digital tech companies have declined in both popularity and their profit margins by simply neglecting to maintain a certain type of open-mindedness that is essential for business plans.

Based on a study by Professor Finkelstein at Dartmouth’s Tuck School of Business, the below key points are some accurate ways to ensure that your business flourishes from an open-minded perspective that could allow for an overall clearer vision. The following points touch upon how to rectify any intentional or unintentional habits leaders in upper management may be acting on, which can be detrimental to your establishment.

Room for improvement

While taking pride in your work is salient in terms of progress, be mindful that this is one quality that has the potential of spiraling out of control fairly easily. Leaders that develop a strong obsession or become particularly entranced with specific concepts that they have created, statistically show a high level of contentment, therefore not allowing them to question their current state. With this in mind, leaders often firmly believed that the success created will never decline.

Dont dwell on the past

One common trend among company leaders is that when the financial or creative situation of their brand was not performing too well, it resulted in these CEO’s or other members of higher up management to recreate old plan of actions or strategies. Although many of these strategies were not necessarily pertinent or beneficial to the business endeavors at the time, leaders were convinced they would result in success simply because it was effective in the company’s recent history.

Company first

Sometimes if the founder of a company or a CEO becomes too attached to the establishment, this tends to be counterproductive, with these leaders tending to focus in on securing the brand’s image instead of emphasizing transparency. Thus, it is actually fairly common for upper management to get caught up in their work that they often forget to envision plans in accordance with the company’s goals or missions.

January 25, 2016

Success Through Moderate Self-Criticism

While there are opposing views as to whether being actively self-critical can positively or negatively affect the way you can operate or better yourself in the workplace, one chief recruiting officer based out of Chicago thinks of this concept in a different light. While also stating that being overly critical can definitely damper your self-esteem and feelings of self-worth, there is no doubt that Krisi Rossi O’Donnell doesn’t effectively use self-criticism as a means to improve herself in her career. Promoted ten times at LaSalle network in Chicago in the past ten years, there is no question that O’Donnell is aware of how to successfully tap into self-critique as a motivating, useful way to push herself in her career.

The first beneficial part of being self-critical is the process of overthinking every move or decision in order to holistically view a certain situation or address a specific issue. By sometimes over analyzing aspects of your work life, you have the potential of developing the mentality of not only coming up with the best solution through intense examination, but also envisioning what potential outcomes could result in your decision. This art of envisioning for both the short term and long term effects will help you anticipate many outcomes until the result occurs which is very useful for managing expectations.

In terms of self-awareness, O’Donnell highlights some ways in which we are able to embrace this notion without overusing it excess, which in turn can be detrimental. “People who are self-critical are self-aware,” O’Donnell says. “They know exactly where they need to improve, which is crucial to continue growing and developing in your career.” It’s certainly true that the ability to see yourself as others see you is a key skill for effective leaders, and just about everyone else.

Moreover, with all this self-criticism as a primary way to provide you with the mental or emotional resources to strive and therefore better yourself, one of the salient ideas to keep in mind is to always remember there is more room to learn. Growing through the process of never failing to learn in your career is an essential cornerstone in relation to building and moving forward in your respective industry.

Similarly, by embracing failures more than successes in your career is the most beneficial form of capitalizing on how to improve some of your weak points that you weren’t previously aware of. While self-criticism is a great resource for advancement, using it sparingly is a must to achieve a healthy balance or dose of emotional security in your day to day work life.

January 4, 2016

How To Effectively Motivate Employees

In spite of the fact that leaders maintain various practices to effectively demonstrate or inspire leadership in others, there are some basic rules as to how leaders can successfully cultivate and further increase productivity in their employees. While leaders come in all management styles and personalities, following these simple guidelines is key to sustaining workflow by focusing on the needs of the team or specific employee instead of letting bias or partiality interfere with what’s at hand.

Leave Your Emotions At The Door

Easily one of the most unprofessional tendencies of poor leaders is to act on impulse instead of actually understanding the goal or overall point of the task. Letting your emotions dictate the way you lead your team or conduct business in the workplace is not only unprofessional, but also is very counterproductive. As a leader, it is your responsibility to rectify whatever situation occurred and continue to implement best methods and practices to ensure fluid workflow among the team. By getting angry and yelling, it makes your employees feel uncomfortable and unapproachable which isn’t good for anyone.

Use Honey Instead of Vinegar

Kindness is a super important, useful tool that allows both the employer to reach to level of a well-functioning leader and the employee to feel appreciated in the work they are fulfilling. According to a U.K. study, companionship and recognition are more important than even high salaries in promoting employee loyalty, which in turn, can be seen in increased productivity across the board. Although expressions of anger may have a few benefits, holistically speaking, studies have found that negative emotions generally cause managers to be seen as less effective, while maintaining a level of unapproachability and emotional distress for their subordinates. Little things such as simply asking how someone is doing personally and attempting to listen to what the person is saying actually affects people a lot more than you would think.

Take Responsibility

This tool is a little difficult for many leaders or managers, as subordinate employees are easy to blame because of their lack of positional power. While this something that happens across companies around the world, it is important to note that as a team leader, whatever goes wrong is technically on your shoulders. Granted that when your team excels, you often receive the credit, there should be no question that the leader of the team assumes all responsibility for the work done well, poorly or not at all.

Perks

Asking what the perks are of a company can sometimes show how much they care or are willing to retain the talent that allows them to produce a great deal of revenue. According to Sabine Sonnentag from the University of Konstanz in Germany, exercise, yoga, breaks from work,and more strict boundaries between work and home can reduce job stress and increase employee well-being and engagement. By providing simple perks such as yoga in the office, discounted gym passes or fresh produce in the kitchen, it motivates employees’ physical/mental state, while highlighting the fact that the company cares about their health. Learn more on how to improve leadership from HBR and Forbes.

December 21, 2015

Valuable Habits of Personable Leaders

When comparing different types of leaders, it is clear that often times people respond better to individuals that treat them with respect and kindness, rather than leading with an iron fist. The saying that you can “attract more honey with bees than vinegar” is a concept that is relevant anywhere in many facets in life, and especially within the realm of the workplace. Dr. Travis Bradberry, author of the bestselling book “Emotional Intelligence 2.0”, explores a range of habits that effective leaders use by engaging best practices that focus on emotional and social awareness.

1. The Power of Personal Connections

Even if it may seem implied, likable leaders have the tendency to communicate with people in way that makes the other person feel as if he/she is the only one in the room. When leaders make an effort to engage with his/her employee by treating said person like another person rather than a subordinate, it can leave the conversation on a positive note.

2. Humbleness is Key

Noticing arrogance in anyone is an uncomfortable experience, especially if that person is someone you report to. With this in mind, leaders are more well-liked when they don’t brag about their accomplishments in conversation or remind you constantly of the fact they’re super successful. Sometimes when a leader is arrogant it can create an emotional environment where he/she is deemed not only unapproachable, but also unlikable due to subtle verbal cues that the other person can clearly pick up on.

3. Positivity

How you say things can truly affect people and the working relationship that you both share. It never hurt for a personable leader to give a few words of encouragement or nicely phrase ways an employee can improve a certain skill set without being negative or hurtful. By simply phrasing a certain failure or mishap as a hopeful opportunity for improvement or a learning experience, employees can therefore view situations like these from a different perspective.

4. Noticing Potential

Understanding and appreciating employees who demonstrate certain skills or have a strong work ethic is essential when becoming an effective, personable leader. When a leader notices qualities in an employee and makes an effort to improve those skills by nurturing them for the betterment of the company, basically everyone wins.

5. Reading people

Personable leaders usually pick up on linguistic cues such as tone, facial expression and body language to truly understand how/why their employees are feeling about different situations. In this sense, they use high social awareness to essentially put themselves in their employees shoes.

November 25, 2015

Emotional Intelligence Now Considered Key Leadership Skill

Emotional intelligence is a pretty recent concept. It was coined in 1990 in a research paper by John D. Mayer of UNH and Peter Salovey of Yale. It was later defined by Mayer in the Harvard Business Review thusly:

“From a scientific (rather than a popular) standpoint, emotional intelligence is the ability to accurately perceive your own and others’ emotions; to understand the signals that emotions send about relationships; and to manage your own and others’ emotions. It doesn’t necessarily include the qualities (like optimism, initiative, and self-confidence) that some popular definitions ascribe to it.”

Almost a decade later, Rutgers psychologist Daniel Goleman established the important connection between emotional intelligence and business leadership. In HBR’s 1998 article, “What Makes a Leader,” he states that the most effective leaders all have a high degree of emotional intelligence. IQ and technical skills are irrelevant when it comes to reaching an executive position.

Emotional intelligence has five major components:

Self-awareness
Self-regulation
Motivation
Empathy for others
Social skills

Each of these components allow people to recognize, learn from, and connect with other people’s mental states.

According to HBR, understanding what constitutes emotional intelligence is important not only because it is so central to leadership, but because people who are strong in some components of it may be lacking in others. One example used by Salovey during a 2010 leadership conference was Bill Clinton, who was remarkable in his empathy yet devoid of self-control.

Mayer and Salovey coined the term “emotional intelligence” the same year that the functional magnetic resonance imaging machine was invented. For the first time, people could look at what was happening in the brain while it was functioning. Golemans extensive work on the subject of emotional intelligence is infused with findings from these studies. With that research Goleman and others have been able to further establish the connection between emotional intelligence and leadership.

They’ve been able to understand what physically happens to the brain when you understand what another person is saying, for example. They’ve also found definitively that emotions like anger can lead to bad decision making and that sometimes things like flattery simply do not work. All of these modes of research lead to a simple conclusion. In order to be a better leader you need emotional intelligence of a high degree.

There are still some counterarguments though, notably a Wharton progessor named Adam Grant who has reported that there is a lack of correlation between tests results measuring emotional intelligence and business results. His methods are obviously contested by Goleman and others.

September 22, 2015

Simple Advice for Running a Meeting from a Few Notable Business Leaders

Meetings are absolutely necessary. However, their length and sometimes boring nature can engender a new host of problems that are detrimental to employee morale and productivity. One study from Britain showed that workers, on average, spend upwards of 65 hours every single month in meetings. Here a few pieces of advice from some of the most effective business leaders such as Richard Branson and Guy Kawasaki.

Christopher Frank, who serves as a VP at American Express, likes to break things down to the basics. He asks his meeting goers to state the problem they need to examine in just a few words. If each person in the meeting gives a markedly different answer then you need to ensure you make the focus of the meeting more clear.

Suzanne Bates of Bates communication understands the importance of using humor. If you appear less stiff and actually make the meeting more enjoyable, your staff will respect you more as a leader.

Legendary entrepreneur Richard Branson continues tries to mix it up as much as possible regarding meetings. He often brings in speakers from a a variety of industries ranging space to biotechnology to spur his staff to think in a more creative and unbounded manner. He also holds meetings in less traditional spaces. He believes that going to the park for a meeting will also spur people to approach an issue with a new perspective.

Respect the opinions of your younger staff members believes the COO of Newsala, Sean Higby. Higby often invites his more junior workers to partake in a meeting as they often bring a fresh perspective and have insight into the problem at hand.

Kawasaki encourages to hold meetings to proactively confront failure. Prior to launching a new product or service, the best-selling author encourages that your team meet and imagine that the venture was a dismal failure. Brainstorm the potential issues and the possible remedies. This will help your team be prepared and equipped with solutions before anything actually does go awry.

August 22, 2015

Learn and Master the 4 Components of Influence

Influence and effectively utilizing it to achieve success as a leader is a tricky thing. Nick Morgan from the Harvard Business Review did a great job breaking down the components of influence in a recent piece. The four aspects of influence, according to Morgan, include positional power, emotion, expertise, and nonverbal signs.

Positional Power is a relatively straightforward component of influence. Positional power affords you the ability to speak more, lead the direction of a meeting or conversation (e.g. selecting a topic). Conversely, expect to talk less if you do wield less positional power.

The second of Morgan’s components, emotion, is the antidote for positional power if you can discover how to properly utilize it. If you are being dominated in a conversation, your passion and zeal for the subject at hand can effectively counteract their power and level the playing field. Morgan offers up the example of how an impassioned performance in a talent show can leave the judges stunned and speechless despite their relative authority.

Emotion, if coupled with the influence’s third component, expertise can prove to be a truly formidable duo. Expertise and the intricate knowledge of a subject goes a long way, but be sure to speak up as even an expert’s voice can be drowned out by the cacophony of opinions.

Morgan’s final component of influence is far more understated than the others. It is the art of nonverbal communication and behavior. We often are completely ignorant of our bodies, our movements, our posture and, and most importantly, how they are portraying our emotions and confidence. Morgan, in his informative book, discusses these subtle power cues and how to effectively master and harness them. If you have been in the presence of someone who has honed these skills and utilizes them adeptly, then you are well aware of powerful they can be.

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