By now, it’s considered a fact that employee engagement is an issue for senior leaders all over the world. And where there is missing engagement, there is high turnover. This is where companies lose millions. But they don’t have to. A Gallup study estimated that millennial turnover due to lack of engagement costs the U.S. economy about $30 billion annually. Given that figure, consider the potential additional earnings businesses could create if they had the best, smartest and most engaged workforce collaborating and creating true value through innovative products and services. So the question to be asked before signing off on talent strategy for 2017 is this:
What if I told you that your profits don’t come from your great products or services? They also don’t come from your latest online campaign, and they certainly don’t come from your improved multichannel strategy.
So where do they come from? The answer is simple: According to the recent Mercer study, 52% of a company’s long-term profitability is directly related to the quality of their leadership team. When you ask different leaders in an organization about how they would rate their personal leadership performance, though, only 39% see themselves doing a good job with their leadership abilities.
So what makes it so difficult to be a good leader? It all starts out with
To make best performance possible in the digital industry, we need to make sure we change the organizational setting in a way that allows individuals to act autonomously, easily acquire and access the needed competences and understand the purpose of the work they do. For some organizations this sounds like a difficult, tedious task, whereas others consider this the basics of a good management practice. Wherever you and your team are on this scale, let’s highlight the 5 golden rules allowing for great performance especially in today’s digital economy:
Despite all the technological innovations taking place, we need to keep in mind that there is a human factor that plays a vital role in the digital industry. We can automate processes, we can have robots as new team members, and we can work with smart, connected, shared devices that tell us what we want before we even know it. But there is no organization—to date or in the future—that can operate without any human beings at all.
The true success factor for companies in the twenty-first century will be human maturity at the right key positions of an organization.
So the questions of the day are—Who are the main actors in this disruptive digital game? What distinguishes these up-and-coming Y Generation talents from their parents and grandparents?
There is a feeling some people call “being overwhelmed.” It makes them unsure about where to start because there are a trillion things requiring their attention. Others call it “being off-balance.” Something feels just not right. And then there are those who keep repeating what nobody can hear anymore because everyone is feeling the same thing: “I am so stressed. I don’t even know where to start.”
Do You Know Your Priorities?
One of the most common challenges my senior management clients face is how to foster curious, high-performing, healthy and engaged employees during an era in which constant change and innovation are keys to success (see also Leadership In The Digital Age). The answer is actually simple: The No. 1 factor for preparing employees across functions and business units to become a true asset to the business is trust. And trust doesn’t cost money. It starts at the leadership level, with the behavior of each and every leader.
It is a question that many leaders at different levels and industries keep asking themselves at least on a weekly basis: If research is correct that the quality of my life depends on my social connections, which in return impact my happiness, how should I handle those 40+ hours a week with negative and even toxic people around me? They take away my energy, they kill my vision and positive perspective and they just make me see the glass half empty instead of half full!
Whether hiring the wrong people, organizing teams with the wrong players or simply not dealing with toxic people in an efficient way will impact your personal and your organization’s productivity and performance. Together with some of my colleagues from the Forbes Coaches Council, we tried to find positive solutions to that tension.
You read diet and you think of losing weight? How come? Well, simple answer because that’s what we normally want when we are interested in reading something about a diet, right? But what if I told you that the next sentences won’t be about reducing your calorie intake, lowering your blood sugar level, doing more exercise and taking the stairs instead of the elevator? What if there are simple steps you can implement in your daily life as of today that won’t hurt, won’t make you change long-existing habits immediately and that will still help you improve, feel happier and get closer to your desired professional performance?
Regardless of where you start from, finding professional success as an entrepreneur while also enjoying every day of your life isn’t always easy. Hopefully, though, it’s a unique endeavor, tailored to your personal needs, likes and preferences. If you’re starting out just after college, you’ve probably recently been exposed to tons of good advice, case studies and group discussions, but the real business world is different, and startup life is even more different. There isn’t someone telling you what to focus on. It’s you who needs to decide from one minute to the next what to do.
This starting point isn’t an easy ride for anyone, but in case you come across difficult section during the early days of your startup hike, here are four steps to keep you going:
An article I co-authored which was originally published at Forbes.com: As the saying goes, “Better the devil you know than the devil you don’t know.” In other words, people prefer what they know to what they don’t, even if what they know isn’t good for them. This can be a major barrier when it comes to your career. If you’ve been considering making a change but have remained stuck for longer than you want to admit, it may be time to take a closer look at your priorities. Below, members of Forbes Coaches Council share one question they’d ask clients to get them thinking differently about their careers.
According to the latest research, it is not only the quality of our social connections that has a direct impact on our happiness but also the environment we spent those 1440 minutes each day in. It is like building a new house: you carefully pick the land, have good reasoning why you are doing it at all, know which outcome you expect and who you select to build and design your new home. The same applies to getting the fundamentals right for your life as a healthy and high-performing individual: you need to get your purpose clear and strategically investigate your social backbone and on top, it is essential that your environment is a reflection of “you”.
There is a demographic change hitting leadership teams in every organization: a shift from the baby boomer board members to the digital-savvy millennial managers who will make up more than 50 percent of the workforce by 2020. The millennial generations, Gen Y and Gen Z, are on their way through college or in their first years of work experience; they seek flexibility in what and where they work. The baby-boomers would like to join some early retirement program and spend the next decade golfing and traveling, but instead need to work beyond 65 and get acquainted with the label “silver agers, ready for perma-work.” For both generations, it is not a decision whether to join this new digital game or not. All of us will be simply be forced
Es gibt ja noch immer Unternehmen, die der Meinung sind, man könnte sich “die Sache mit der Digitalisierung” mal in Ruhe anschauen und abwarten, was die anderen so machen, bevor das eigene Leadership Team aktiv wird. Aber mal ehrlich: wenn Sie von Wien nach Salzburg mit dem Zug fahren wollen, stehen Sie dann auch am Hauptbahnhof, beobachten wie alle Passagiere eiligst einsteigen, ignorieren die Lautsprecherdurchsagen, warten bis sich der Zug in Bewegung setzt und erst dann laufen Sie als Führungskraft hinterher und versuchen auf den fahrenden Zug aufzuspringen?
[This article was initially published on Forbes.com in February 2016]
It’s 11 a.m. and you’ve already managed to launch your new social media campaign, including live Q&A for your customers via Periscope; completed your stand-up team breakfast with your local team; and joined a hangout session with your virtual freelancers. You haven’t only walked the dog and prepared a fresh, organic breakfast, but managed to squeeze in 30 minutes of yoga. All in all, you are not doing too bad on your New Year’s resolutions.
A couple of years ago, organizations of all sizes were proud to have their high-caliber strategy department where some young and not-so-young smart brains thought about the best direction for the company given the current situation, anticipated challenges, and upcoming trends. Today things are different. The same companies face fundamental strategic uncertainties, which question the basis of their business models. How will this impact strategy work at your company? Well, consider those 4 key trends we see today in setting the right priorities for your company’s future
The digital transformation is taking place in times of great economic and social change. Most companies will not have the option to join the game or not. They and their employees are simply forced to play by the new rules of these digital times. But there is something these organizations can influence and this is crucial for mastering the transition: it is preparing their leadership team to navigate the entire organization through this disruptive sea of the Digital Era.
David had to change his email signature recently from “HR Director”to “Chief Talent Officer”. What sounds like a promotion is also one. But it is more than that: his organization realized that there is only one significant factor for staying the market leader in their industry segment. It is not any smart technology, disruptive business model or any new big data analytics competency. Success in the digital economy has many important parameters in the equation but one of them is most critical: it is talents in key positions who are high performers and capable of managing a grounded life!
Last year alone, more than 2,200 books on leadership were published and as long as business is around, we will continue to pick apart the underlying ingredients of true andexcellent leadership. The notion of authenticity goes all the way back to Shakespear's Hamlet and the quote "To thine own self be true". Highlighting the importance of authenticity in the realm of leadership I would like to invite you today to join me on a short journey exploring authentic leadership.