March 4th, 2010
Earlier this week, I had the privilege of being on a panel at the Carlson School of Management (through the Center for Human Resources and Labor Studies) at a Professional Development event. The topic was Remaining Relevant in a Changing Economy.
Our assignment, as panelists, was to talk to TRENDS we are seeing (especially as a recruiter) and ADVICE for the attendees. I asked my business partners for input and we developed a few ideas. They were well received by the attendees – I hope you find them of value.
TRENDS: What employers are asking for
- Continuing Education: We work with people with substantial career experience. Our clients want those people to be at the top of their field – through their experience but also through up-to-date continuing education/development in their field. Take an occasional AND related course or seminar; get certified or update your recent certifications. Read a good business book.
- Cross-Functional Knowledge: Our clients want people who understand areas of business outside of their specific functional area. (When you pursue a good business book, pick something outside of your areas of expertise.)
- Accomplishments: Clients want to know what you have accomplished, NOT (only) what you had as responsibilities. Clients, and personally as recruiters, want to know about your results.
ADVICE (for remaining relevant):
- Keep Your Network Alive: And make sure your connections go beyond building your LinkedIn or Facebook numbers. Make sure your connections are purposeful. Purposeful is NOT just for job searching – it means, for example, that you know where to go for the best information on great practices for your profession and/or industry.
- Stay Updated in your ‘Technical’ Skills: The technology we refer to is the technology of your function (human resources, finance, operations, etc.). Stay current by reading journals, attending programs and in general being active in your profession through associations and industry groups.
- Show Your Employer Your Value: At the end of the day, make sure you bring more value to your employer than then are paying you. Regardless of your role, you should be positively impacting the bottom-line and operational excellence of your organization.
Watch for our next entry – trends in Compensation.
Posted in Career Management
February 25th, 2010
When I was graduating college, my first potential ‘professional’ employer asked me for a letter of recommendation from a long-standing past employer of mine. I asked the business owner to write a letter. His response was to send me to his office to get letterhead so that I could write a letter that he would then sign. I immediately realized (I was about to enter the HR field, by the way) that letters of recommendation had little value.
Why are LinkedIn references so popular?
To complete your profile (to get to that 100% level), you need to really use many or most of your LinkedIn profile’s features. A reference gets you 5% – not a bad thing by itself. There are other reasons besides a goal of profile completion.
- References get noticed when people read your profile
- The first 6 words are visible on the profile page (and usually say wonderful things)
- The addition of a reference gets you listed in the weekly LinkedIn updates e-mail
Are most references a ‘cross-reference’ deal?
My e-mails are archived automatically (all of ours are). I went back to check my weekly LinkedIn updates. It appears that most references are a deal – I’ll write one for you if you write one for me. Can you imagine one of those ‘deal’ e-mails not being extremely positive?
Get to know the people you pursue – or that pursue you
That by itself ends this post. A polished profile and great references (from people that are friends of the person) make up most of today’s active LinkedIn profiles. Simply put, take the time to check out the people you pursue or that pursue you. Reading only the profile will not get you what you need.
Posted in Social Networking
February 17th, 2010
Each week, I get my weekly LinkedIn Updates e-mail. I find who my contacts have added as their contacts; I see all status changes. One trend seems to be changing the picture on the top right of the profile (I assume updating). Now one can ask . . . . . why the picture anyway? If we are ‘linked’ together – don’t we know each other well? (That by itself could be a Blog entry – and likely will be in the future.)
Unless your name is John or Jane Smith (my apologies to all John and Jane Smiths), you should Google yourself. And if you have time, google some of your friends/acquaintances.
LinkedIn is yours; Google results happen to you
We control our LinkedIn content; it is clear from the number of status updates that we are all constantly upgrading what we say/write. (I am guilty as well, by the way.)
- Have you ever seen a bad reference?
- Have you ever seen a bad picture?
- Do you find misspellings? (They are corrected quickly; wording is consistently polished.)
Now – and I mean right now (after you read this), google yourself. Start clicking on everything with your name . . . . . and go beyond the first page.
Due diligence goes beyond LinkedIn
It is amazing what can be learned through simply keying in a person’s name.
- Are they as active in their profession as their resume or LinkedIn profile states?
- Are there employer announcements referencing positions that are not on the profile?
- Are there news stories that the typical candidate would prefer did not exist?
LinkedIn is only the beginning
It seems that we are all using LinkedIn in some manner. It is an efficient way to keep up with people that we know somewhat well. It can be a great business community. LinkedIn is not the whole story. It is simply the story we want people to quickly see. Have fun – take the time (sometimes substantial, but well worth it) and see what you (and others) may learn.
Posted in Social Networking
February 9th, 2010
So is Succession Planning for us? I noticed that much of the reading I was doing on the topic was from consulting companies that referred to global organizations. Most businesses, while doing work outside of their own geography, are not of the scope/scale of the organizations referenced.
We do not have the ’stomach’ for major programs
It our last Blog post, we referenced that Succession Planning is a process. The research that addresses small/medium companies and/or family businesses use that word as well. Ivan Landsberg, a Yale University expert in family businesses, coined the term Succession Conspiracy. Forces against a company’s leadership starting this process include:
- Reluctance to let go
- Personal loss of identity
- Fear of change
- Norms against discussing ‘mortality’
Start with Communication
To make succession work, the process needs to be discussed – pointing out (in actual truth) that this is a long-term process – 3 to 6 years in advance. Talking and actual planning can then be done in small but planful steps – with a timeline. The goals of the long timeframe are anything but transparent and very important:
- Pass the business along successfully
- Reassure employees, suppliers and customers (and family members if appropriate) that the business will continue
Statistics on family-owned businesses, a large portion of all businesses, are not optimistic regarding transitions. It is estimated that only 40% of businesses make it to the second generation; roughly 12% make it to the third generation.
At the end of the day, the company leadership has no greater responsibility than identifying who will foster the company’s continued viability and success. Start the process today.
Posted in Succession Planning
February 2nd, 2010
Yes we have gone through a deep recession. People have put off their retirement plans; in some cases this is the second time retirement plans have been postponed. (How can we forget the economy of 2001/2002?) That said, demographic shifts will, in the very near future, create intense competition for talent. Combine that with the fact that the Conference Board Leading Economic Index ™ (LEI) has increased every month since May 2009 and you have the very early beginnings of economic improvement.
SHRM Future of the U.S. Labor Pool Survey Report
There have been multiple warnings about our aging labor force in many different reports. This particular report puts it very clearly:
- 82 million Baby Boomers are retiring; only 45 million Gen-Xers are available to replace them.
What are the obstacles?
- Lack of support from the top
- Resistance to change
- ‘Annual’ performance management programs
- Resistance by leaders to ‘let go’ of their best staff
It’s all about business
While there are certainly short-term issues that need to be considered when developing succession planning programs, the best and most successful programs start with business objectives. Most organizations have some sort of annual strategic planning session or process. This is the time to incorporate succession planning practices.
- What are the company’s short and long range goals?
- What are the strategies and related tactics for reaching those goals?
- What are the key roles (existing today and needed for tomorrow) necessary for achieving our goals?
- How can we assure we have the team in place to get us to where we want to go?
One-A-Day®
People often think of ‘programs’ like Succession Planning as an all-or-nothing event. The key is to start a process that can and should incorporate all of your ongoing/daily workforce management programs. Performance management, leadership development, training, retention/engagement activities and talent acquisition all need to come together. You are likely doing many of the necessary activities . . . . . bringing them together with a common purpose will be key (and the topic for future Blog entries).
Posted in Succession Planning
January 22nd, 2010
Why do so many companies not engage in Succession Planning yet know they should?
I wish I had an answer for you. This past week, I had 5 meetings where this topic came up based on company demographics – specifically relating to the senior team. In each of the 5 meetings, the HR person (1) knew the critical nature of the situation and (2) was running into heavy resistance in pushing initiatives in this area forward.
“I intend to live forever; so far so good!”
(If you read this, it’s a great day!) This is a favorite quote from the president of a past client. She is in her late 60’s/early 70’s (only she knows for sure) and will not think about hiring her successor(s). Is it a problem for today? Is it a problem for tomorrow?
So many resources – and all with the same theme
In doing a literature search, there were clear and consistent subject areas/topics:
- The first topic is that the vast majority of companies are sadly behind in this area. They have done little if any planning.
- The second topic is that these same companies that are not doing anything in this area are now realizing that they have to.
- The third and most important topic is that regardless of the source of the study/information, there are some important themes that need to be followed in order for succession planning to start, have potential impact, and be sustained and successful.
Over the next few entries we will informally compile what we are seeing in the literature and address these themes.
Please make sure to send your comments and questions as we address this important and somewhat neglected area.
Tags: Succession Planning
Posted in Succession Planning
January 18th, 2010
Is LinkedIn the NEW monster in the room?
Yes – I have a LinkedIn profile. Yes – I have multiple ‘electronic’ contacts. What is LinkedIn becoming – and is it of value?
Networking is an overused job search term
Networking is, in all studies I have found, the number one way in which people find new positions. When I think of networking, I think of strategically scheduled meetings with key connections. It may be about jobs; it does NOT need to be. It can be about anything – it is simply an exchange of information.
It is an overused term by its current connotation . . . . . the way to find a NEW job.
Is LinkedIn the way to go?
In looking at LinkedIn’s homepage, I discovered that conducting a job search (as a candidate) is not listed among the reasons for having a LinkedIn account. In all honesty, the homepage does list “Post and distribute job listings to find the best talent for your company” as one of its suggestions.
Believing what you read?
I checked the LinkedIn profiles of candidates that, through external verification, we found did not tell us the truth about their credentials. Their profiles contain the same mis-information. I decided to check further – people I know with a short-tenured employment situation or two. Interestingly, some of their past employers were not listed as part of their work history.
Are people more likely to make false statements on LinkedIn or on a resume? In discussing it with my colleagues here, we decided that people would more likely falsify their background on LinkedIn. Why did we come to this (unscientific) conclusion? LinkedIn is a personal ‘advertisement’; a resume is directly submitted to an employer – and has ramifications if it is not correct.
Be careful!
Yes – LinkedIn is one of the tools in use today by retained search firms. It is also in use by many employers as a primary or one of the primary talent acquisition strategies in use. We have found that between 10% and 15% of the people we want to interview have created a degree on their resume that does not exist. We assume the numbers are the same (if not worse) with LinkedIn profiles.
Posted in Social Networking
January 11th, 2010
U.S. Job Satisfaction Hits 22-Year Low
(Conference Board’s survey – as reported on CNNMoney.com – 1/5/2010)
More Executives Seek New Jobs
(Minneapolis/St. Paul Business Journal – 1/8/2010)
Last week was a tough news week for people concerned about employee retention and engagement. Tuesday’s news (1/5/2010) started with the Conference Board’s survey of 5,000 households which stated that only 45% of employees were satisfied with their jobs. Our own Minneapolis/St. Paul Business Journal carried an article with the title More Executives Seek New Jobs. There were countless other related and equally dismal articles from a multitude of sources.
It IS the time to be proactive
This isn’t about ‘them’ . . . . . it is about you and your company. There are studies being done all the time about employee engagement – in individual companies (or areas within companies) or on a more global scale. The themes that result are reasonably common, but not always perfectly consistent.
Employees want to be heard
I was asked after e-mailing out a presentation called Employment of Choice why companies bother conducting engagement surveys if they already knew the answers. My simple response was that employees want to have a voice in what is being done. They want to be heard and they want their comments acknowledged AND acted upon where possible.
The articles referenced above predict extreme turnover as the economy slowly improves. Neither article gave any suggestions for dealing with the situation. So . . . . . what can be done?
A brief literature search suggests the following ideas:
- daily or weekly communications update from the C-suite
- implementation of a company blog relating to business issues and updates
- on-line tracking (and displaying) of company progress toward 2010 goals
- special celebrations – relating to incremental AND monumental progress toward goals
- training – and having employees who go to outside training (or receive internal training) share the knowledge through conducting sessions
The possibilities are endless
. . . . . as are the suggestions available. The key seems to be to determine what YOUR employees want and need and then to develop a situation-specific solution. Communication is always a theme – and one that doesn’t have to cost anything. Visibility by the senior team is also important. This is NOT an HR program, but a series of activities that should truly emanate from the top.
One final (AND somewhat controversial) thought for this blog entry . . . . . zero turnover is not necessarily a goal you want to achieve. Retention of the people you want and need to achieve the 2010 goals and objectives of your organization while living up to your mission/vision will be key.
Posted in Employee Engagement
December 30th, 2009
Happy New Year!
I think there are many of us who simply want to welcome in 2010 (AND send off 2009). It has been a tough year for most people on some level. Let’s resolve to look ahead rather than behind.
BUT . . . . .
. . . . . that said, 2009 was a year of low turnover. I recently attended a panel presentation of key talent acquisition leaders from varying large twin cities-based companies. There was little worry (in 2009) about retention stated. They were, of course, looking ahead and thinking about what may happen as the economy improves.
What can we do as we begin 2010?
In looking at as many published studies and articles as possible, there are multiple themes that emerge. In summary, however, the 2009 ExecuNet Executive Job Market Intelligence Report put it well:
“If you want your key team to be in place at the end of this year, you need to be sure you are placing at least as much time and energy into retention as you are into focusing on the company performance goals.”
A resolution for 2010!
Start the year with communication! Honesty is the best policy – and repeating messages often and in new, creative ways keeps employees informed AND away from speculating about what is happening.
One final thought for our last entry of 2009. It comes from hearing Brad Anderson, the former CEO and Vice Chair of Best Buy, speak at a recent HR Executive Forum meeting. Among his many pearls of wisdom, he stated that “employee engagement is predictive of their (Best Buy’s) sales numbers.”
This statement alone is reason enough to focus on engagement!
Wishing you all a fantastic and successful 2010!
Posted in Employee Engagement
December 15th, 2009
(We’ll come back to Ethics again soon!)
Talent Management: A Priority
Can we avoid a repeat of 2003? As the last recession was coming to an end, the statistics on the number of disgruntled workers started to grow quarter by quarter. By the spring of 2003, one study showed that only 26% of the working population was loyal. That same study reported some other, rather staggering, findings:
- 55% of the working population was miserable and just putting in their time
- 28% of the working population was actively looking for a new job
The number one login time for many job sites was Monday morning at 9:00 a.m.
2009 was a Rough Year for Most Employers
I am sure most of us did NOT need this as a reminder! Salary increases were non-existent; many companies instituted across-the-board freezes or cuts. Bonus plans were flat.
An ExecuNet 2009 Executive Job Market Intelligence Report found that a good cultural fit is second only to doing work that is enjoyable as “most important factor in keeping them engaged in their current role.” Another report, the 2009 BlueSteps Executive Mobility Survey found that 75% of employed executives would likely consider a new job opportunity.
So what can be done?
There have been multiple studies published during the second half of this year that talk about what employers can be doing to engage their workforce. A few of the items that the studies seem to share in common are:
- Communicate to employees – the good AND the bad
- Connect employees to the company through public displays of values
- Emphasize the intangibles and low-cost programs
- Institute an Incentive Recovery Plan
Over the next few weeks, we will talk further about these ideas.
Posted in Employee Engagement
