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Perfect Storm Eliant Roundtable4

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  • A Loop! Each feeds each
  • BRIDGE TO BREGG, RECRUITING
  • A core of talent is necessary to execute strategy Recruiting must focus not just on skills, but on the big picture, with attention to team building 2004 US Olympic basketball team’s loss to Puerto Rico: All stars rather than team players
  • BRIDGE TO CHUCK, HIRING
  • Disney example
  • Harvard Study Results
  • Ask Sharrow friend in audience the question---have them prepared to give sample answer--probe
  • Without follow-up, only 17% of people make any change at all. Omnilearn, an online coaching tool, is a great example of a follow-up process that holds people accountable for developing themselves

Perfect Storm Eliant Roundtable4 Perfect Storm Eliant Roundtable4 Presentation Transcript

  • The Perfect Storm Succeeding in a Difficult Market Bill Carpitella President
  • A Gathering Storm Retiring Baby Boomers Inexperienced New Talent Market Downturn
  • Fewer Leaders with Less Down-Market Experience US Census Department Today’s retiring leaders Their successors
  • Tomorrow’s Leadership
    • Your new leaders and leaders’ successors came of age in a strong market
    • These leaders number nearly 15 million fewer than those they replace
    • Experienced leaders are retiring in droves
    • They take with them survival skills and lessons learned from the 80s
    ’ 90 ’92 ’94 ’96 ’98 ’00 ’02 ’04 ’06 ‘07 NAHB’s Home Builders Index Seasonally adjusted 80 60 40 20
  • What Are Today’s Leaders Good At? Drive for Results Ethics and Values Problem Solving Decision Quality Approachability Action Oriented Customer Focus Perseverance What’s Missing?
  • Difficult Markets Demand Different Skills Establishes clear directions; distributes appropriate workload; brings out the best in people Cope w/ change; shift gears comfortably; decide & act without having the total picture; handle risk Launch creative ideas of others; facilitate brainstorming; project how ideas will play out Future-oriented; accurately anticipate future consequences/trends; broad knowledge & perspective Communicates an inspiring vision/sense of purpose; optimistic; rallies support; inspires and motivates Blends people into teams; creates strong morale; fosters open dialogue; lets people be responsible for their work Create climate where people want to do their best; empowers; invites input Dealing with Ambiguity* Innovation Management* Strategic Agility* Managing Vision & Purpose* Building Effective Teams* * One of the Top 8 Skills: most critical AND most rare Motivating Others Directing Others
  • Can You Develop Behavioral Skills? Gallup says don’t waste your time — focus on selection Lominger says it depends. Not all behaviors are equally difficult to learn Action oriented Easy Motivating others Moderate Patience Harder Understanding others Hardest We say… use both
  • Do Behavioral Skills Drive Performance? Answer: Some do and some don’t
    • Drive for Results
    • Customer Focus
    • Motivating Others
    • Conflict Management
    • Perseverance
    Yes
    • Listening
    • Compassion
    • Approachability
    • Ethics & Values
    • Humor
    No
  • Implications
    • Hire for behavioral skills that:
      • Are hardest to learn
      • Correlate to performance
    • Develop behavioral skills that:
      • Are easiest to learn
      • Correlate to performance
  • “Weather-proof” Critical Roles Utilize star retirees or outside consultants to coach leaders and supplement their skills Create a mentoring program to transfer knowledge before retirement Use retiring stars as a template for new hires Coaching Mentoring Success Profiles Whether new hires or developing leaders, there are ways to ensure success:
  • Addressing Skill Gaps: Create “Success Profiles”
    • Define combination of behaviors and skills observed in your key high performing retirees
    • Model after your best
  • Foundation for Excellence
    • Use Success Profiles to:
    • Interview
    • Manage Performance
    • Train and Develop
    • Promote
  • Hiring a Sea-Worthy Crew
  • Innovative Sources for New Talent
    • Internal network
    • New hires
    • Build a database
    • Become a known quantity of excellence
    • Use Monster/Career Builder as network opportunity
    • Mandate a sphere of influence
  • Recruiting for the Business , Not Just the Position
    • Define business competencies
    • Translate into functional competencies
    • Utilize Interview Architect to match candidate with required competencies
    • Test for additional validation
    • Define culture and correlate with candidate persona and values
  • Know What You’re Looking For
    • Avoid generic job descriptions that focus on price-of-entry skills
      • Often based on last employee (successful or not)
    • Tie strategy and culture to job description
    • Consider what kind of person suits the culture
      • What qualities do high performers share?
      • What will it take to meet short term objectives? (6mo–1yr)
      • What would excellence in this position look like?
    • Build on success profiles
  • Implications for Hiring
    • Once you know who you’re looking for, how do you select them?
      • “ Gut feel” is only 2% better than flipping a coin
  • Why Not Hire For Experience
    • May have learned wrong attitude/behavior from an inferior competitor. Retraining is more difficult.
    • Harder to change behavior than train for experience.
  • Why Not Hire For IQ
    • Intelligence doesn’t predict long-term success
    • IQ is the “price of entry”
  • Hiring the Right People question What makes the difference in high performance people?
  • Hiring the Right People
    • Common sense is twice as predictive of success as IQ
    answer
    • IT IS NOT
    • Experience
    • Technical/functional Skills
    • IQ
    • IT IS
    • Attitude/Behavior
    • EQ (common sense)
  • Hiring the Right People
    • Why Hire For Attitude
    • Attitude & behaviors get employees in trouble – not technical/functional skills
    • Behavior is harder to change/train in most cases
    • Can you name a company that hires for attitude?
    conclusion
  • Assessing Behavioral Skills in Hiring Research Shows: Casual, 1-on-1 interview .20 Reference checks .26 Assessment centers .36 Panel interviews .37 Ability testing .53 Behavioral structured interviews .70
  • Behavioral-Event Interviewing
    • Sample question, Dealing with Ambiguity:
    • Tell me about a time when everything was up in the air…
    • Tell me about a time when you took a significant personal risk…
  • Developing the Skills Your Strategy Demands
  • What Have We Learned About Developing Adults?*
    • Behavioral skills get people in trouble
    of adult learning is through experience of performance success correlates directly to behavioral skills 70% 40-60% *Center for Creative Learning studies
  • How to Develop Behavioral Skills
    • Focus first on honest feedback and improved self-awareness
    • Adults learn by doing (experience). They must be coached to try new behaviors during daily interactions.
      • The best way is stretch assignments (reaching out of comfort zone)
    • Simply imparting new knowledge changes nothing
  • Challenges for Supervisors
    • Tend to hold on to marginal talent too long
      • Don’t like confronting direct reports or giving tough feedback
    • 30% of employees are blocked learners (resist all change)
    • Out of 67 leadership skills, developing direct reports is dead last in skill level
  • Developing the Individual Isn’t Enough
    • Organizational processes are needed to hold leaders accountable for upgrading their talent
  • Solutions For Upgrading Your Talent
    • Create “success profiles” modeled after your best people
    • Create an annual talent review process that requires you to force rank your talent on both performance and potential
    • Hire for behavioral skills, not just functional/technical skills
    • Include behavioral skills in performance management
    • Consider a 360° confidential feedback process for high potentials. Require written plans targeting individual development.
    • Provide coaching, mentoring and follow-up for high potentials
  • Conclusions
    • The tactical, strategic and economic impact of people systems can be significant
    • Focusing on your staff’s performance can be profitable and drive revenue
      • Excellence as an expectation
    • Aligned people systems add to the bottom line
    • Hire for attitude – train for skill