Congratulations, you’ve now been appointed CEO of a growing enterprise! You are anxious to get started and you have the energy to change the world. Well…..put the brakes on that! This is where new CEO’s often cause problems for themselves. They carry this “change the world” thought too far and try to do too much too soon.
It’s an all too familiar story, a classroom teacher that is well respected by students, parents and the administration for being excellent at imparting knowledge and wisdom to her grade 5 class, is promoted to the position of principal. On the other side of town a young man who helps people with complex tax issues is asked to manage a team of 10 likeminded accountants. The meticulous car mechanic sought after to service customers vehicle is rewarded by making him shop manager supervising 19 young, old and apprentice mechanics. What’s wrong with this picture? None of them wanted to be promoted; they were content with the work they excelled at. However, the employer fearing they will leave if they are not given some incentive to stay decides to reward either their good work or their length of service by placing them in a position where they are most likely to fail or be mediocre at most.
The headline in the Free Press read, City sees healthy growth in economic development and reported the growth momentum was predicted to continue well into 2015. It’s nice to see Manitoba’s competitive advantage has been successful in attracting large world-class companies. At the same time, I am pretty proud of the large number of mid-sized, family-owned enterprises demonstrating success.
In my view, there are two colliding trends in today’s business world that we need to start paying attention to. First, we know that the pool of younger, highly qualified and experienced candidates for succession to senior leadership positions is continuing to shrink. And secondly, we know that the average median age for retirement is now 63.3 years. Thus, with the number of individuals’ right on this age cusp, businesses are at risk of losing a lot of intellectual capital. We need do to something to keep these experienced senior professionals just a little bit longer while at the same time, developing younger professionals.
Alright, so you’ve finished your advanced degree, perhaps an MBA, but there doesn’t seem to be an opportunity for promotion in your organization. Then again, where will you get the work related experience that could be leveraged to attain a new job role in another organization? Don’t despair – take a harder look within your organization!
From Debra Magnuson – Career Partners International – Twin Cities
With Baby Boomers beginning their moves into retirement and Generation Z, the youngest generation, now entering the workforce, the needs and expectations of employees are changing. To provide insight into the importance and impact of this workforce revolution, Career Partners International, one of the largest talent management solution providers in the world, hosted researcher and author Dan Schawbel for a webinar entitled “Generation Z: Understanding the Next Generation of Worker.” This document discusses the concepts introduced during the webinar, as well as practices that engage employees of all ages, concluding with solutions to help organizations thrive by leveraging the strengths of the new workforce.
Unearth the Hidden Talent From Within
I recently attended the Associates AGM where the keynote speaker at the dinner presentation, Perrin Beatty, President of the Canadian Chamber of Commerce, spoke on the topic of Canada’s Business Competitiveness. One of the key points that he referenced was the Skills Gap that many Canadian organizations face today. Organizations are desperate to meet the needs of today while also understanding what they will need for the future. He went further to say that it is imperative that they have this understanding, if they want Canada to be competitive globally.
“Pat, I’ll Buy an L for $200!”
As a manager, you have a team and are often tasked with hiring on a new individual to complement the team. You work with your HR department or a Recruitment Firm to ensure that you choose the right person that can complete the necessary job requirements and will fit into the culture of your existing team. You want a productive, strong relationship within your team that will last so that success can be built and reached!
You can't help being excited for the Canadian Athletes competing and achieving such success in Sochi. Patriotism, acts of kindness, examples of hard work and dedication are all around. Then, when we experience moments of surprise and see life altering defeat, those emotionally impacted moments pull a heart string or two – no matter who you are or where you’re located!
It's been some time since I've written about the importance of assisting your new leaders to integrate into your organization. This is so critical that if specific strategies are not employed, your new employee could fail within the first ninety days. That's because if they don't quickly gain the trust of employees and key stakeholders, it will be difficult to make changes and drive the business forward.
Five years ago, the Human Capital Institute collaborated with the large consulting firm Hewitt Human Capital Consulting and published the results of a comprehensive leadership survey entitled, the State of Talent Management, Today's Challenges, Tomorrow's Opportunities. The study revealed five looming workforce challenges, including the attraction and retention of skilled professionals, developing manager capability, retaining high performers, developing succession pool depth and addressing management and leadership talent.
When employers hear the term risk management, they more than likely think about identifying, assessing and prioritizing areas of financial risk arising out of such things as a business acquisition, major purchases, equipment failure and/or the crash of a major information technology support system.
Have you ever wondered what CEOs really want? What does a CEO expect from his/her organization, its senior team and the individual players? Generally it can be summed up in two words: creative alignment.
Over the next 10 years, 200,000 small business owners in Canada alone will turn 65 and want to retire. This number does not include their employees, mid to large businesses, corporations and public organizations. When you add all of those together this clearly becomes a critical issue with major impacts and ramifications.
As our workforce changes and becomes more diverse, the general thinking on talent and people resources is changing as well. While senior employees and managers are still essential to organizational success, there is now wide-spread recognition that improved performance depends on the acquisition, development, engagement and deployment of new talent.
There is an old saying that the higher the level of success a candidate achieves in their career, the more difficult it is for organizations to thoroughly assess their skills. Why is that? The answer is this: by the time a manager rises to a senior executive position, they are typically very good communicators. Good communicators are skilled at telling a stories, selling themselves and, on occasion, embellishing their skills. It’s just what they do.
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