#Leadership: What Leaders Can Learn from a Long Run…Hiding your Shortcomings is Virtually Impossible in Long-Distance Running.

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With the 2015 Boston Marathon coming Monday, the world’s attention will be on the 30,000 runners as they endure the highs and lows of running 26.2 miles.

Runners leave the start line in last year’s Boston Marathon.Associated Press

Hiding your shortcomings is virtually impossible in long-distance running. More than in any other athletic endeavor, a marathon forces you to confront weaknesses head on, exposing your limitations as well as your strengths. That’s something that marathon-running corporate leaders know well, a group that includes T-Mobile chief executive John Legere, and Steve Reinemund and Bill Perez, the former chiefs of Pepsi and Nike, respectively.

Dambisa Moyo, an adviser to big businesses including Barclays BCS -1.92% PLC and soon to be two-time marathoner (she’ll be in the pack in London on April 26) explains what corporate leaders can learn from a long run.

The Middle of the Road Isn’t Such a Bad Place to Be
Ever wonder why runners jostle for position at the center of the road? The roads in many cities are bevelled or hump-shaped, a feature that helps rain run off to the roadside. Experienced marathoners know that it’s also the best place to run during a race, since running on an incline wreaks havoc on hips and joints, hindering performance.

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Think of your company’s core mission the same way. When you are running a marathon and you see a space opening on the margins or a clear track emerges on one side, it seems like an alluring shortcut–but it’s not. This is equally true in business. Though it’s tempting to veer off into new territory, leaders should keep business plans and growth strategies on the high ground. Innovation can improve efficiencies and productivity, these should be balanced against staying close to businesses in which a company’s core strengths and unique selling proposition lie.

It Takes a Team
Running a marathon can take a lot more than slipping on a pair of sneakers and getting out there to train. My training regimen included gym trainers, masseurs to keep supple, Pilates instructors, nutritionists, coaches, and podiatrists. To be sure, thousands of people complete marathons without these trappings. Yet even now, looking back, it is daunting to imagine how much harder it would have been to cross the finish line without all this support. It’s likely I would still have completed the race without all that help, but I’d be in worse shape for it.

Leaders who go it alone also achieve what they set out to do, but without a diverse team and broad support, the victories can be somewhat hollow. Victory is sweeter when the whole team – from the client-facing individual to the people in legal, compliance, and on the shop floor – works like a well-oiled machine.

Have a Mantra
Training for a marathon requires long, solitary hours on the road. Many marathoners have some form of mantra, whether it’s a playlist, a quote or a motto they repeat when things get tough. Diana Nyad, the 64-year-old woman who completed a 50-hour swim from Cuba to Florida, relied upon the John Lennon song “Imagine,” as one of the mantras to get her through her punishing feat.

Leaders must also rely on mantras to achieve their objectives. Guiding principles focus the mind of the manager who has to prioritize a range of alternatives. More importantly, these codified values are the tools to rally the troops. They push everyone in the organization to strive behind one strong message.

Never mind the Competition
Experienced runners counsel novices to “run their own race” — in short, staying focused even when an expectant mother or someone in a gorilla suit whizzes past you. In my specific case, a woman in her eighties (nearly twice my age) ran the marathon faster than I did.

Yet, if you listen to these wise words, you invariably end up passing at least one of the runners who passed you.

Careers, and especially executive careers, are not that unlike marathons. It’s easy to get caught up in who’s up (and who’s down), comparing your own trajectory to your peers’, or to the new hotshot in marketing who’s rising fast. It is tempting to let newfangled opportunities and the latest trends seduce you but staying focused on your goals and your own path is crucial. Whether racing down the track in your own time or resisting the allure of “opportunities” in the subprime mortgage market, leaders are rewarded for taking the road less traveled.

Be prepared
After months of intensive training for the New York City marathon last year, I thought I was prepared. I had glycogen supplements, electrolytes, and had completed my major training milestones. But I wasn’t prepared for the chilly temperatures and 30-mph winds that dogged race day.

You can’t plan for everything, no matter how much you train. Businesses pride themselves in being able to manage, grow and profit by understanding the risks they face. However, tail risks and exogenous factors – occurrences that are not anticipated, let alone planned for – are almost always the reason companies struggle.

Leaders can help companies brace for headwinds by fostering a culture that allows for creativity and flexibility so that companies can face the unexpected challenges.

Failure Happens
In running, you need a plan B. On race day last year, my performance ended up over one hour worse than my worst-case scenario due to the cold wind.

When your plan fails, you have to adapt quickly and find a way to get back home. Changing plans midstream is not without its costs: in a marathon it can add significant time to your race. Anyone running a company must be willing to cut losses when the costs of pursuing a particular plan become burdensome–consider the many leaders who have stuck too long with a losing proposition.

Whereas stodgy companies have the luxury to reject the fact that elements of their plans are failing and not adapt to changing circumstances, no marathoner can afford this without enormous costs. Even so, in a world of rapid technological advancements and innovation, laggards ignore change at their own peril.

Marathon runner, global economist, and author Dr. Dambisa Moyo serves on the board of directors of Barclays PLC, SABMiller and Barrick Gold.

WSJ.com | April 18, 2015 | DAMBISA MOYO

Your Career: 7 Things To Do At The Start Of Your Job Search…Here are 7 Things To Do to in the First Week of a Job Search

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The Deloitte CFO Signals Survey shows continued optimism among CFOs, forecasting significant growth in earnings and hiring. When CFOs are bullish, my recruiter ears perk up because CFO’s hold the purse strings. Anecdotally, I’ve been getting a lot of calls from my recruiter colleagues about openings, especially recruiting openings. When recruiters need to be hired, that means the company is anticipating increased hiring in the near term.

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If your résumé is hard to read, no one will.

If your résumé is hard to read, no one will.

I’ve written before about the improving job market, and both the Deloitte survey and my current experience support the same conclusion. If you’ve been thinking about a job search or if you got discouraged before and are waiting to jump back in, get your job search started ASAP. Here are seven things to do to in the first week of a job search:

1- Block time on your calendar

A proactive job search will take several hours per week – 10-20 if you can manage it. These hours won’t magically appear without you protecting your calendar. Job search requires focus, so pick time when you are still fresh. As you get busier in your search, remember that you will need more time and you will need time during normal business hours, so block out extra time now so your colleagues don’t claim it for their own meetings.

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2- Pull together your “example” list

For your resume, online profile, cover letters, interviews, and networking meetings, you will need to outline your value proposition. The best value proposition is backed up with examples. Go year-by-year from undergraduate through today, and itemize the roles you played and projects you worked on. Include volunteer and extra-curricular activities as well.

The most recent examples will carry the most weight so don’t panic if you can’t remember the distant past. (You still want to include the past, however, because there may be a unique story to tell about a skill, personal quality or accomplishment that happened to be early in your career!) Your examples might repeat – that’s ok as you’ll pick just the most substantive ones. Some examples may not be that exciting or have tangible results – that’s ok as you only need a handful. You’re looking for the stories that will form the backbone of your networking pitch, your correspondence, and your interview points.

3- Do a resume data dump

If it’s been a while since you’ve written or updated your resume, then you might have severe writer’s block as you try to remember what you’ve done, including dates, titles and other factoids, as well as write it in resume style.

This can be overwhelming and cause you to procrastinate on this very important marketing tool. Instead, write your resume in prose. Or dictate it into a recorder. Or take your example list from above and attach dates to it. These data dumps won’t be a proper resume but they’ll get the facts out there, and then you can edit for aesthetics, wording and format.

4- Focus on your LinkedIn headline and summary

A comprehensive LinkedIn profile is different than a resume, but initially your LinkedIn can be a simple chronology for education and experience. You can play around with these other sections later. Most importantly, start with your headline and summary. The headline is what appears under your name (mine says “career expert, executive coach, recruiter, author, speaker and comedian).

Yours can be your current title if that’s descriptive of your role and scope, or it might be your industry expertise, years of experience, functional expertise, or some combination. The summary is the first box people see, and it primes the reader for everything else that follows. (It may also be the only thing people read before deciding whether to call you in or agree to your networking request!)

5- Ping three old contacts per day

If you reconnected with three old contacts every day for the duration of your job search, you would have rekindled ties with almost 100 people in your first month alone. Do not limit yourself to contacts that you think are relevant to your search. Reconnect with people from your alma mater, first internships, all the way up to your current affiliations. Reconnect with people from old trade associations, volunteer stints and hobby classes. Just say hello.

If you feel like you need a reason, tell them they popped up on your LinkedIn or Facebooksuggestions for people you might know. This outreach practices networking overall – you’re not ready to pitch for a job so don’t bother limiting yourself to job-specific contacts. You also clean up your database. Finally, you don’t know who people know. You might find that your rowdy frat buddy is now at a company you would want to research. Reconnect now on a friendly, non-job related basis. Then, if you do need to ask a question later on, you have already reconnected.

6- Skim business magazines for articles that catch your attention

While you’re working on your marketing and shoring up your personal connections, you also want to be mindful of the external market. The job search is a meeting of the minds between candidate and employer. Who are these employers? What are their concerns (that will prompt them to hire you)? What are the innovations happening in the industry (that will color what hiring managers are looking for)? How do your interests translate into roles that companies will hire for?

To get this information you need to know about business. It’s unrealistic to think you will read every business publication cover-to-cover – it will take too long and may actually be a form of avoiding a more active job search. But at least look at the headlines and start getting familiar with what is trending and what you are interested in. For your interests, read deeper and incorporate specialty publications and industry blogs.

7- Rest and reflect

You will burn out and sour on your job search if you don’t take a break. You also might spin your wheels or go down the wrong path if you don’t stop to reflect on how your actions are contributing. Build in active and engaging breaks each week – a walk in your favorite park, a movie, a yoga class. Don’t spend a lot of money because you want to take breaks repeatedly throughout your search.

Troubleshoot your search to ensure you are focusing on the right things and giving attention to all areas. The activities I mention above are internally-focused (your schedule, your marketing) and externally-focused (your network, market research). Aim for a balance of internal and external. If the internal comes more easily, make sure you schedule external activities so you don’t only do one half of a search (like the job seeker who edits their resume over and over without ever sending it out).

Purposefully, I haven’t listed anything about applying for jobs or reaching out to contacts about jobs specifically. In the first week of a search, you’re not ready to pitch for jobs. You don’t want to get called in with a sub-standard resume or no examples to share or no knowledge of the market.

That said, I also limited this preparation period to one week (this is a suggestion which is aggressive I admit) to ensure you don’t prepare, plan and analyze for too long before going after actual jobs. If you have more time for your job search (a long severance, a cash cushion), you might take more than one week for this kick-off. But not that much longer – you want to network and interview sooner than later to get real-time feedback on how you’re perceived in the market.

Caroline Ceniza-Levine is a career and business coach withSixFigureStart. 

Forbes.com | April 16, 2015 | Caroline Ceniza-Levine

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Leadership: The 3 Components Of Mental Strength That Will Help You Succeed…Building Mental Strength is About Learning to Regulate your Thoughts, Manage your Emotions, & Behave Productively despite Whatever Circumstances you Find yourself In.

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Whether you aim to become an elite athlete, or you aspire to become a prosperous entrepreneur, mental strength is the key to long-term success. After all, you need fierce determination and tenacity to reach your greatest potential.

mental strength to succeed

Fotolia.com

There will always be obstacles and challenges that stand in your way. Building mental strength will help you develop resilience to those potentials hazards so you can continue on your journey to success. Mentally strong people overcome setbacks with confidence, because adversity only makes them better.

Building mental strength is about learning to regulate your thoughts, manage your emotions, and behave productively despite whatever circumstances you find yourself in. Here’s why you need all three of those components for success:

1. Mental Strength Improves Your Ability to Think Realistically

Just because you think something, doesn’t make it true. Yet, many people allow their pessimistic thoughts to prevent them from taking action. Believing things like, “I always have bad luck,” can become a self-fulfilling prophecy.

Exaggeratedly positive thoughts can be equally detrimental. Underestimating how difficult a task will be or overestimating your abilities could you leave you unprepared for the reality of the situation. It’s imperative to have a realistic inner monologue that will help you recognize danger, while also giving you hope for the future.

Building mental strength involves learning to recognize and replace thinking errors. With practice, you can train your brain to think differently. An improved ability to recognize irrational thoughts will give you a more realistic outlook. Regulating your thoughts gives you better judgement and improved insight, which equals more success.

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2. Mental Strength Helps You Control Your Emotions
The road to success is often filled with emotional turmoil. If you lack adequate skills to cope with those emotions, you’ll struggle to delay gratification and resist temptation and you’ll be less likely to face your fears and take calculated risks. Mental strength is the key to controlling your emotions, so your emotions don’t control you.
Mentally strong people don’t ignore their emotions – in fact, they’re acutely aware of their feelings. They possess confidence in their ability to behave contrary to their emotions. So even when something feels uncomfortable, they’re willing to press forward if it is for the greater good.

Success requires a certain amount of personal growth – which means stepping out of your comfort zone. Mental strength will give you the courage to face your fears and become better, because you’ll trust in your ability to deal with discomfort. The more you step out of your comfort zone, the more confidence you’ll gain in your ability to manage your emotions.

3. Mental Strength Leads to More Productive Behavior

Mental strength helps you dedicate your finite resources – like time and energy – into productive activities. You won’t waste effort worrying about things you can’t control or complaining about things you can’t change. Instead, all your resources will go toward activities that will help you move toward your goal.

Developing mental strength will help you learn from mistakes so you can avoid repeating them. It’ll also help you recover from failure and overcome challenges. When you invest all of your effort into productive activities, you can accomplish incredible feats.

Mental strength ensures that you’re working smarter, not harder. Instead of becoming like a hamster running in a wheel, it helps you get rid of the counterproductive bad habits that are holding you back.

Building Mental Strength

Fortunately, everyone has the ability to build mental strength. Similar to developing physical strength, building mental strength requires hard work and exercise. But if you choose to make mental strength a priority, you’ll grow stronger and become better.

You can’t climb to the top without the strength to get there. Becoming mentally strong will separate you from the pack and help you achieve whatever goals you set for yourself.

Amy Morin is a psychotherapist and the author of 13 Things Mentally Strong People Don’t Do, a bestselling book that is being translated into more than 20 languages.

 

Forbes.com | April 17, 2015 | Amy Morin 

Strategy: Will A $15 Wage Help McDonald’s Make Better Burgers And Fries Or Break The Iconic Franchise?…Will a Considerable Wage Hike Solve McDonald’s Problems? Recently, Low-Pay Labor has Turned from an Advantage to a Disadvantage for McDonald’s

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Hiking wages to $15 hour—as protesters around the country demand—will have a mixed impact on McDonald’s.

On the one hand, it will help the company hire and retain better-skilled employees, and do a better job servingburgers and fries. On the other hand, it could fuel a “civil war” between the parent company (the franchiser) and the franchisees which may break the iconic franchise.

For years, low-pay labor helped McDonalds ascend to the position of the world’s largest fast food franchise; enjoying hefty profit margins that made the company’s stock a stellar performer on Wall Street.

McDonald’s, Chipotle’, Noodle & Company And Shake Shack’s Key Statistics

Company

Total Revenue

Total Employees

Operating Margins

Return on Assets

Qtrly Revenue Growth (yoy)

Chipotle

$4.11B

53,100

17.47%

19.70%

26.70%

Shake Shack

118.53M

1,680

2.74

2.94

51.50

Noodle & Company

403.74M

9,500

5.05

5.98

18.70

McDonald’s

27.99B

420,000

29.04

14.05

-7.30

Source: finance.yahoo.com

But recently, low-pay labor has turned from an advantage to a disadvantage for McDonald’s.

For several reasons.

First, it has limited the company’s efforts to improve the menu and services to compete efficiently and effectively against new competitors like Chipotle, El Pollo Loco Holdings, Inc., Panera Bread, and Yum Brands—to mention but a few.

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Second, the proliferation of competing franchise chains has been exerting an upward pressure on industry compensation for qualified labor.

Third, McDonald’s has been facing labor protests, strikes, and unfavorable legal rulings that are changing the rules of the game altogether for the company franchise.

McDonald’s labor issues have undermined sales and earnings growth — and taken their toll McDonald’s stock –in sharp contrast to the company’s close competitor Chipotle, which has seen its earnings, revenues, and stock soar.

Will a considerable wage hike solve McDonald’s problems?

It will certainly ease them, as it will help the company recruit and retain more qualified employees. Most notably, it will help the company introduce a new menu and capitalize on its most important advantage – location –especially when better recruitment and retention is supplemented by better training.

At the same time, a considerable wage increase will likelyfuel a “civil war” between the parent company and the franchises that could threaten breaking up the iconic franchise. In contrast to the parent company, which is the franchise collector, franchisees are the franchise payers. That means that they have less of a cushion to absorb substantial wage increases than corporate-owned stores.

Unless, of course, the parent company is prepared to buy out marginal franchises – or install robots to flip burgers, as discussed in a previous piece here.

 

Forbes.com | April 15, 2015 | Panos Mourdoukoutas

Leadership: Here’s Why you Should Worry if a Woman just Got Promoted to a Top Position at your Company…Women are Seriously Underrepresented in Top Leadership. In the US, they Occupy just 20% of Senior Management Roles.

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It’s no secret that women are seriously underrepresented in top leadership. In the US, they occupy just 20% of senior management roles.

Sheryl-Sandberg

Sheryl Sandberg.

So when you spot your first female colleague setting up shop in a corner office, you might be inclined to rejoice and relax, taking her promotion as a sign that the tides are finally turning.

But if there was ever a time to fret about the lack of gender diversity in your organization, it’s when the first woman is promoted into senior leadership.

According to new research from Columbia Business School and the University of Maryland’s Robert H. Smith School of Business, once a woman lands one of the five highest-paying executive spots in a given firm, the chances of another woman joining the executive team are a whopping 51% lower.

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Based on the study, forthcoming in the Strategic Management Journal, the specific reasons for this “negative spillover” phenomenon are unclear. But the researchers suggest that firms might be operating with “implicit quotas” in mind. In other words, companies feel pressure — from the media, investors, and their own employees — to increase the number of women in top positions. So when one woman finally does ascend the ranks, those companies might feel as though they’ve fulfilled their responsibility to create gender diversity.

“They orient their efforts away from promoting women, perhaps to the point of resistance,” study co-author David Gaddis Ross told Business Insider. That means it’s actually harder to get that second woman promoted than it was the first time around.

Researchers focused specifically on leadership at S&P 1,500 companies, where the number of top management positions held by women rose from 1.6% in 1992 to 8.7% in 2011. By creating simulated models of the companies’ executive teams, they found that women executives should have been clustered more closely, meaning there should have been multiple women on the same executive teams if they were assigned positions randomly. The reality, however, is that companies with top women executives typically had just one.

Perhaps you’re wondering if part of the problem is that women perceive same-gender coworkers as competition — so when they reach the top, they actively try to keep other women from joining them.

But the study’s findings don’t support that idea, Ross said. In firms led by female CEOs, the negative spillover effect is weakest, suggesting that those women are actually taking steps to combat the influence of implicit quotas.

Still, it’s not just women who should be concerned about women’s minimal presence in corporate leadership. Previous research has found that female representation in top management can boost a firm’s performance. Everyone has a vested interest in seeing more women become top leaders.

So how should you react when a woman receives a well-deserved promotion to an executive role? Essentially, Ross said, you have to redouble your efforts to promote women leaders — or else that progress may quickly stall.

The heartening news is that the proportion of women leaders is gradually increasing. That gives Ross hope that at some point, “the number of women in top management may override the effects of implicit quotas.”

Until then, don’t be fooled by the sight of a single female face in the executive team meeting. It’s only a sign that there’s yet more work to be done.

Businessinsider.com | Arpil 16, 2015 | 

http://www.businessinsider.com/new-study-on-women-and-leadership-2015-4#ixzz3XYdqLcFa

Your Career: What to say When the Hiring Manager asks, ‘Why should we hire you?’…Before you Arrive at the Job Interview, you Should have a General Sense of How to Communicate This

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We recently solicited readers to submit their most pressing career-related questions.

interview

With help from Lynn Taylor, a national workplace expert and the author of “Tame Your Terrible Office Tyrant: How to Manage Childish Boss Behavior and Thrive in Your Job,” we’ve answered the following: “What should I say when an interviewer asks why the company should hire me?”

Taylor says this question is likely the single best opportunity you have to seal the deal in the job interview. “But because it’s so broad, it can also lead you down a slippery slope if you’re not concise.”

When interviewers ask this question, they want you to convince them that you’re the best candidate for the job. To ace the response, you must do your homework on the employer and job description so you can align your skills and experience with their specific needs.

“This is an opportunity to say, ‘You need X, and I am the best person for the job because of Y.’ You want to convey that not only are you a safe choice with minimal risk — but also a great choice,” says Taylor.

Before you arrive at the job interview, you should have a general sense of how to communicate this, she suggests. “One useful technique is to have three major points in mind on why you’re an excellent choice. This is a default framework you can come back to in the interview to sell yourself. It will become more refined as the interview proceeds.”

Here’s how to answer the common “Why should we hire you?” interview question:

Listen for real-time cues.

“As you hear the finer details of job requirements, jot down some key words from your background that will help you provide a targeted response once the hiring manager asks this question,” Taylor says. “If, for example, organizational skills are paramount, you may jot down certain related software programs you use.” As you make minor notes, still try to maintain good eye contact and stay in an active listening mode.

“Since you now have more data on the real requirements, it’s time to turn up your pitch a notch,” she says. For instance, know your unique selling proposition. What makes you particularly qualified for the job among your peers? What does the firm present publicly and in the interview? How does your unique background align with their mission? “If, for example, the company’s advertising tagline is about service excellence, you can address how your customer service expertise resulted in quantifiable results, such as in expanded business, training you provided, or client recognition you received,” says Taylor.

interview, meeting, work, jobStrelka Institute for Media, Architecture and Design/flickr

Focus on key points.

1) Offer the big picture. This is a general overview of the overall match, says Taylor. “You’re setting a general comfort zone here.” For example, you’ll want to talk about: how long you’ve been doing X at what types of companies; your applicable specialty areas; technical skills; training; and education. “Maybe you’ve been promoted frequently or have been given increased responsibility or staff — which objectively attest to your big picture value,” says Taylor. “Share that information.”

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2) Discuss your accomplishments. This is your opportunity to talk more specifically about a couple of specific projects that showcase your related skill sets and experience. “Results are what count, however, so be sure to mention how the contributions helped your company, and how your expertise could similarly make a significant impact for them,” says Taylor. But remember to be concise!

3) Communicate that you have excellent people skills. If you have a few soft skill attributes that you feel would be an asset to the position (such as team player, motivational leader, strong work ethic, reliable), tell them.

“By addressing the low turnover in your department, for example, you underscore that you have strong management potential,” says Taylor. “Oftentimes, slightly stronger people skills trump minor weaknesses in technical expertise. Unlike technical skills, it’s virtually impossible to teach attitude.”

interviewFlickr/AIGA Austin

Prove you’d be a great investment.

“Every manager wants to be assured that you’d offer a good return on investment,” she says. “They want to mitigate risk and avert being in the hiring doghouse. This is your chance use bottom line examples of why the company will benefit from hiring you. What are some specific, applicable accomplishments that illustrate this? Where possible, give dollar percentages or raw numbers (sans inflation).”

For instance, did you:

  •  reduce expenses by a certain percent or dollar figure?
  • streamline certain processes?
  • develop new programs that increased revenues?
  • reduce turnover?
  • secure new accounts or expand on existing business?

“This is not to downplay your overall awards, recognition, kudos, soft skills, and overall success; they still support your market value in a credible way,” says Taylor. “A combination of the two is ideal.”

resumeAIGA RALEIGH/flickr

Be enthusiastic.

“Once you’ve made a solid argument for your skills being a good match, there’s one more factor needed in the mix,” says Taylor. “Show your excitement and enthusiasm for the position. No matter how good you look on paper or present facts, illustrating that you’re genuinely motivated and want the job is a key contributing factor.” After all, this is a good reason to hire you, too. Just make sure your zeal doesn’t slip into the category of desperation. You want to convey that you want the job, not need it.

Be as specific, but brief, as possible.

In selling your great attributes for the job, a few words of caution: When given a sweeping question like this, it’s easy to go into long-winded tangents — or wax on about the time that you developed the equivalent of the Internet of Things for your employer. “Be conscious of brevity and don’t exaggerate,” Taylor suggests. “One, it may be highly transparent; two, it may be deflated in a reference check; and three, if not caught (and eventually hired), you could find yourself in over your head.”

By doing your homework, paying close attention to the input your given, and conveying confidence in performing to the employer’s expectations or beyond, you’ll likely present a winning case, she concludes.

Readers: Want us to answer your questions related to your career or job search? Tweet Careers editor Jacquelyn Smith @JacquelynVSmith or email her at jsmith[fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][at]businessinsider[dot]com, and we’ll do our best to answer them.

 

Businessinsider.com |  April 16, 2015 | Jacquelyn Smith 

http://www.businessinsider.com/what-to-say-when-the-hiring-manager-asks-why-should-we-hire-you-2015-4#ixzz3XVVsBx4J

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Leadership: How Big Data Is Changing The #CFO Role…Over the Next Decade, #Big Data is Going to be a Game-Changer & a Truly Disruptive Force Across the Globe

/in /by

As IMA found in its recently released 2014 Salary Survey, salaries remained stagnant or declined for accounting and finance professionals in traditional areas of responsibility, such as taxation and audit. The finance function is evolving and CFOs are expected to know more about the trends affecting businesses today, including big data and technological innovations. I recently spoke with Krish Venkataraman, CFO and COO, of Syncsort about this “new breed” of CFOs.

[fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”]

IMAGE: Getty Images

IMAGE: Getty Images

This interview has been edited and condensed.

Jeff Thomson: You left NYSE Euronext after several years to join Syncsort, a much smaller company. What prompted you to make the change?

Krish Venkataraman: Syncsort is a thriving organization with a 40-year track record. It has reached a point where I can add significant value as it positions itself for aggressive organic and inorganic growth. It’s a case of it being the right role, at the right company, at the right time.

Over the next decade, big data is going to be a game-changer and a truly disruptive force across the globe, and Syncsort is poised to continue its role as a leader in this charge. The company’s management team knows how to deliver on its promises and I have a track record of doing the same, so it’s a great fit.

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JT: How would you describe the CFO’s relationship with the CIO? How can CFOs open the lines of communication with the CIO, as their roles continue to converge?

KV: The relationship between the CFO and CIO is crucial. As a CFO who also understands technology, I know this first-hand. After all, I came from an organization with over 2,000 engineers at NYSE Euronext. So when engineers come to me with an idea for a new product that requires financing, I don’t just see it as a cost, but as a potentially lucrative investment. On the flip side, because I understand technology, I can also smell a bad investment.

Back to your original question: How can CFOs and CIOs strengthen their relationship? For the longest time, CFOs and CIOs spoke different languages. Now, with the level of investment that companies are making in technology and the amount they must invest to protect themselves from a regulatory and security standpoint, CFOs and CIOs have to learn to talk to each other.

Here at Syncsort, I’m not only responsible for the traditional finance roles like treasury, banking, and M&A but, more importantly, I’m also responsible for the operational aspects of the business, from IT to legal. It really helps me keep the right balance between innovation and operational stability. I’ve learned that when finance and technology intersect, you can do great things.

JT: CFOs are increasingly looked to as bean “sprouters,” as opposed to just bean counters. How can the CFO leverage his/her understanding and use of technology to drive business strategy?

KV: As companies become more and more reliant on technology, and as technology becomes the driver of competitive advantage, it’s not enough for CFOs to just be audit folks anymore. They have to be drivers of innovation who are able to see technology not just as a cost center, but as a key driver of that innovation.

The role of the CFO has fundamentally shifted in the last decade. With more focus on bringing operational stability and efficiency into an organization, CFOs in many organizations are now championing this transformation. Here at Syncsort – as in my prior role at NYSE Euronext — I wear two hats and have two titles. I believe the role of a CFO is to be both a good steward and a good strategist. I have to provide strategic and implementation expertise, understand how to innovate through technology, and ensure that the firm’s risks are managed not only on the financial spectrums, but more critically on the operational aspects, as well.

In short, I am a hands-on CFO who believes in the power of understanding the business from within and helping the CEO and the management team transform the organization. I like to say that I am part of a new breed of CFOs who operate at the intersection of financial services, technology and big data.

JT: In late 2013, IMA released a report on the top 10 technology trends that have potential to significantly reshape the business landscape, including mobile, big data and the cloud. What do you believe are the most important tech trends CFOs should be aware of and why?

KV: Two words: big data. Over the next decade, big data has the potential to be a real game-changer. But it’s just rows and columns on a spreadsheet without the right tools. We have gone from a world in which firms have too little data to a world in which firms have so much data they have difficulty making sense of these data and drawing insights from them.

Here at Syncsort, we use our own technology to analyze what types of acquisitions we should be considering, and reduce the risk associated with acquiring companies that won’t be profitable in the future. That’s an example of how companies can harness the power of big data and predictive analytics to position their companies for success.

JT: How can aspiring CFOs prepare for the greater emphasis on technology? What skills are most important?

KV: CFOs have to get out of their comfort zones and learn to speak the same language as CIOs. In the past, CFOs viewed technology as purely a cost center. But it can also be the biggest driver of innovation at a company.

As a CFO you have to make sure that you approach technology from both angles. Both sides of your persona – the steward who contains costs and the strategist looking for lucrative investments and innovations – must be working at the same time, all the time. It’s a balancing act. CFOs who get it right will be transformational leaders inside their organizations.

Forbes.com | April 16, 2015 | Jeff Thompson

http://www.forbes.com/sites/jeffthomson/2015/04/16/how-big-data-is-changing-the-cfo-role/

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Leadership: An Amazon Exec Shares 20 Mistakes Inexperienced Managers Make…The Best Way to Deliver Unpopular Decisions is at a Team Meeting where you have Ample Time to Give the Reasoning behind the Decision & take Q&A.

/in /by

Below are some mistakes I made as a new manager or have seen other new managers make.

Directions Man

Be proactive, not reactive.

Experienced managers still make some of these mistakes, though hopefully fewer:

Performance Management

1. Being slow to deal with performance issues — Smoke becomes fire. If you take note of performance issues early you can give gentle corrective feedback. If you’re too slow to notice you have to give stronger feedback, and the performance issues may be harder to reverse.

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2. Not documenting poor performance — Documenting poor performance via email helps employees understand the gravity of the situation (“This email summarizes the discussion we just had”) and it is also helpful to have on hand if it comes time to terminate the employee.

3. Not documenting good performance — Documenting good performance via email, to the employee alone or to a wider audience, is a great way to recognize their contributions to the team and company. It’s also a good habit to regularly document good performance of team members for your own purposes, so you can remember what you want to praise them for at annual review time.

Career Development

4. Not getting to know your employees — It’s great to know the names of all your employees’ kids. It’s even better to know the type of work each employee most likes to do, their particular pain points within the team or company, what their career objectives are (depth, breadth, management), or why they might be thinking about taking a different job or moving to a different company. You need to develop a rapport and level of trust with each employee before they’ll start to share these things with you.

5. Not paying attention to your high-performing employees — If you’re very satisfied with how an employee is performing you need to turn the tables and invest in making them more satisfied with their job. Find ways for them to do more of what makes them happy and less of what doesn’t.

6. Not investing in developing your employees — Every employee needs to be developed, either to support the career development (and retention) of strong performers or to improve the performance of weaker employees. Every year you should be trying to raise the level of performance of every employee.

Leadership

7. Thinking too small — A successful leader is going to create growth and opportunity for their team. A leader who thinks small is unlikely to do either. Instead of planning how to grow your business 100%, plan how to grow it 10x or 100x.

8. Not explicitly allocating resources — Explicitly managing resources means prioritizing projects, specifying how many (or which) resources will work on each, and in what order. Highly effective teams may be able to self-organize extremely well. New managers give less effective teams too much freedom to self-organize, leading to sub-optimal resource allocation.

9. Poor delivery of unpopular decisions — The difference in how employees receive unpopular decisions often depends on how those decisions are delivered. The more important, or more unpopular, the decision, the greater the need to manage its delivery. In my experience, the best way to deliver unpopular decisions is at a team meeting where you have ample time to give the reasoning behind the decision and take Q&A. Good managers explain why the decision is made. Bad managers say, “Because the boss said so.”

10. Being slow to resolve team pain points — New managers don’t pay attention to or understand their team’s pain points. Good managers are always tracking their team’s pain points, devising strategies to reduce or resolve them, and then moving on to the next pain point.

Recruiting

11. Not investing in sourcing — Good managers source candidates themselves through their personal networks and take ownership over sourcing in other ways, treating any candidates that the recruiting department sends their way as gravy. Inexperienced managers are satisfied with whatever recruiting sends them.

12. Lazy recruiting — Good managers act quickly on any recruiting activity. They review resumes as soon as they come in, make time in their schedules for phone screens, sell their positions to candidates, make quick hiring decisions, and are aggressive in getting from offer to acceptance. New managers act more slowly. They trust the recruiting department to brief candidates on the position and handle other candidate communications. Lazy recruiting loses candidates to other companies or internal teams.

13. Reactive sourcing and recruiting — Bad managers wait until they have an approved position and a job description up on the company’s website. Good managers are always sourcing and recruiting, and may be chatting up a prospective candidate today about a position they may not have open for a year or more.

Hiring

14. Not being clear on the requirements of the role — Inexperienced managers don’t spend time thinking about exactly what they need from a new hire. They hire generic candidates with generic skills. Good managers have a more narrow profile in mind, which helps them write stronger job descriptions and generate more qualified candidates.

15. Lowering the bar — Inexperienced managers have low standards, or lower their standards, in an effort to make a hire. Good managers know that they’re much better off keeping a high bar and waiting for the right candidate.

Organizational Development

16. Letting dotted lines proliferate — It sucks to have two bosses. Good managers seek to have clear lines of authority and prevent their employees from getting caught in the middle between competing bosses. Inexperienced managers let other managers carve out chunks of their resources.

17. Letting the team get swamped — Inexperienced managers keep piling more and more work on the team. Experienced managers either grow the team size to handle the increased load, or deflect the increased work. It takes an experienced manager who’s earned the trust of leadership to push back effectively, or to effectively justify why the team needs more headcount.

18. Being reactive — Inexperienced managers need their bosses to tell them when their team is over or under-resourced or unbalanced. The team might have too few or too many resources, or it might be heavy or light on a certain role (e.g. QA:SDE ratio) given the other resources on the team. Experienced managers are anticipating how the needs of the team are going to change over time and then working proactively working to adapt their organization’s size and structure.

Visibility

19. Taking the credit — New managers let themselves take credit for their team’s work. Good managers attempt to redirect kudos and credit onto their team, or ideally, individual team members.

20. Forwarding the blame — New managers pin the blame on team members. “Joe was out of the office and wasn’t able to finish this in time.” Good managers put the blame on themselves and understand that any failing within the team is a failing of the leader.

Ian McAllister is GM and product leader at Amazon. For more from Ian, follow him on Twitter.

Quora is the best answer to any question. Ask a question, get a great answer. Learn from experts and get insider knowledge. You can follow Quora on Twitter, Facebook, and Google+.

 

Businessinsider.com | April 15, 2015 | Quora

http://qr.ae/d5Dmf#ixzz3XTOnYHsk

Strategy: 8 Simple Steps to Getting a Lot Done in a Short Period of Time…Keep in Mind that the Following isn’t Suitable for Everyday Use; Try that & You’ll soon Burn Out.

/in /by

Say you need to complete a major project or tackle a task you’ve been putting off. Or maybe you desperately need to crank out a ton of work in a short period of time, yet you never seem able to find that time.

Productivity

What you need is an extreme productivity day.

Keep in mind that the following isn’t suitable for everyday use; try that and you’ll soon burn out. But once in a while? It’s the perfect cure for the “I will never get that done” blues.

Let’s say you have a task that will take you 10 to 12 hours to complete. Here’s how to do it in just one day.

1. Tell everyone you won’t be available.

Interruptions are productivity killers, so letting people know you’re doing something special and will be out of reach for a day is an absolute must.

At a minimum, tell co-workers and family, but don’t forget important clients. Send a quick email a day or two before explaining that you will be tied up on a certain day and will respond to calls, emails, etc. first thing the following morning.

Some customers will contact you before Thursday; others will mentally note that you can’t be reached. Either way it’s all good.

And you get an additional benefit from telling other people your plan: Those important to you will know what you intend to accomplish, and they will know if you don’t succeed.

Peer pressure can be a great motivator. Use it.

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2. Decide how long you will work…

Don’t plan on the basis of “I’ll work as long as I can,” or “I’ll work as long as I feel productive.” Set a concrete target. Commit to working 12 hours or whatever period of time you choose.

Why? The longer the time frame you set, the quicker the early hours seem to go by.

When I worked in a factory we typically worked eight-hour shifts; the hours before lunch dragged and the last couple of hours each day always seemed like death. But when we worked 12-hour shifts, the morning hours seemed to fly by. Something about knowing you’ll be working for a long time allows you to stop checking the clock; it’s as if you naturally find your Zen (work)place.

When you know you’re in for a long haul, your mind automatically adapts. Trust me — it works.

3. … And totally commit to meeting that deadline.

You know what happens: Once you decide a task should take four hours it somehow ends up taking four hours, even when it should actually take only two. It’s natural to fill extra time with “stuff.”

The opposite happens when a deadline is seemingly too aggressive: We find ways to strip out the nonessential and get things done much quicker than we could have imagined.

So don’t just set a deadline. Totally commit to hitting that deadline.

And feel free to play any mental games that help: Make a bet with someone else, or make a bet with yourself (with losing meaning you have to do something you really don’t want to do) — in other words, make the stakes personal so you’re not just professionally but also personally invested in the outcome.

4. Start at an unusual time.

Have you ever taken a long car trip and left at 3 or 4 a.m.? I bet those first few hours flew by, because you stepped outside your norm.

The same trick works for an extreme productivity day. Start at 4 a.m. Or indulge your inner night owl and start at 6 p.m. and work through the night. Those first few hours will fly by.

An extreme productivity day is not a normal day. Set the stage for the unusual by breaking free of your usual routine.

5. Delay and then space out your rewards.

Say you like to listen to music when you work. On an extreme productivity day, keep the music off for the first few hours. That way, when your motivation starts to flag, a little music will provide a great boost to your morale.

However you tend to treat yourself, think of those treats as personal productivity bullets; use all your ammunition too early and you’ll have nothing left when you really need it.

Whatever typically carries you through your workday, hold off on it for a while. Delayed gratification is always better gratification.

6. Refuel well before you think you need to.

Waiting until you’re thirsty to drink when you’re exercising is already too late.

The same is true when you work. Plan to eat or snack a little earlier than normal. If you sit while you work, stand up long before your rear gets numb. If you stand, sit long before your legs start to ache. In short, when you allow yourself to feel discomfort your motivation and resolve will weaken — so do everything possible to keep that from happening.

And speaking of food, plan meals wisely. Don’t take an hour lunch break. Prepare food you can eat quickly without lots of organization or mess. The key is to refuel and keep rolling.

Remember what Isaac Newton said: A productive body in motion tends to stay in productive motion. That’s why you should…

7. Take productive breaks, not relaxation breaks.

Momentum is everything. Don’t take a walk, or watch a little TV, or goof around on the internet. You will need breaks, but those breaks should reinforce your sense of activity and accomplishment.

Pick a few productive tasks you like to perform — and gain a sense of accomplishment from — and use those for your breaks. Spending even a few minutes in the land of inactivity weakens your resolve.

8. Don’t quit until you’re done — even if finishing takes longer than expected.

Stopping short is habit-forming. If you quit this time, what will keep you from quitting the next time? (Answer: nothing.) Quitting is a habit but staying the course is also a habit, so make sure your first extreme productivity day is the start of a great new habit.

Plus you can gain a great side benefit from extreme productivity days: You’ll unconsciously reset your internal limit on your output.

How? We all have this little voice inside us that says, “I’ve done enough,” or, “I’m exhausted — there’s no way I can do any more,” which makes us stop. But that little voice lies: with the right motivation, or under the right circumstances, we can always do more. Stopping is a choice.

An extreme productivity day automatically ratchets your internal limits to a higher level. And after a few — maybe even just one — extreme productivity days, you’ll perform better every “normal” day too, because you will have unconsciously quieted that little voice and raised your own bar.

And isn’t your own bar the only one that truly matters?

Businessinsider.com | April 15, 2015 | Jeff Haden 

http://www.inc.com/jeff-haden/not-for-the-meek-8-steps-to-an-exceptionally-productive-day.html#ixzz3XTHEsbZh

Strategy: Google HR Boss says Asking these Questions will Instantly Improve your Job Interviews…”Describe a Situation Where you were Responsible for Getting Others to Make a Change.”

/in /by

Managers may want to keep interviews conversational or unique — asking weird questions like “What was the last costume you wore?” — but you’ll be doing both yourself and the candidate a disservice, says Google’s SVP of People Operations Laszlo Bock in his new book “Work Rules!”

job interview

Interviews tailored to specific jobs and skills will yield the best results, says Google HR boss Laszlo Bock.

Instead, he recommends that managers of all companies, regardless of size or industry, stick to structured, job-specific interviews.

Bock cites a 1998 study from the University of Iowa’s Frank Schmidt and Michigan State University’s John Hunter that considered 85 years of hiring data from American companies. Schmidt and Hunter found that the best predictor of a candidate’s success is a work sample test, followed closely by a test of general cognitive ability and a structured interview. They found unstructured interviews to be notably insufficient predictors of success in a job.

Bock explains that Google uses an internal tool called qDroid that arranges a list of interview questions depending on what type of position is being filled. The questions are behavioral, dealing with past scenarios, and situational, dealing with hypothetical scenarios.

Bock believes that more companies don’t use these types of interviews because they require a lot of time creating questions and then testing which ones are most effective, but he insists the return on the time investment is worth it.

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He recommends looking at the questions included in the career resources section of the US Department of Veterans Affairs website. “Use them,” Bock writes, adjusting them as needed. “You’ll do better at hiring immediately.”

Below, we’ve highlighted 28 great interview questions from the VA, arranged by job level and skill:

Level I: Non-management staff.

Level II: Team leaders.

Level III: Mid-level managers.

Level IV: Executives.

Creative thinking

I. “Tell me about two suggestions you have made to your supervisor in the past year. How did you come up with the ideas? What happened? How do you feel about the way things went?”

II. “Tell me about a time when a co-worker had a good idea and you agreed but no one else was willing to listen. How did you handle the situation and what was the outcome?”

III. “What projects have you started on your own? Why did you start the projects? What did you learn from doing the projects? What were the results?”

IV. “Describe a creative endeavor you can take ownership for that impacted on the efficiency or effectiveness of your organization.”

laszlo bockNeilson Barnard/Getty ImagesGoogle’s SVP of People Operations Laszlo Bock.

Customer service

I. “Tell about a situation where you assisted a co-worker. What was the situation? What was your involvement and what was the outcome?”

II. “Tell me specifically which co-workers in your organization are your customers. What have you done specifically to improve the service you give these internal customers?”

III. “Tell me specifically how you have communicated to line staff that they have permission to go around the ‘chain of command’ to expedite resolution of a patient problem. What has been the result of such communication? Success stories?”

IV. “In the past, how have you obtained and incorporated customer feedback into your organization’s planning and service standards? Give specific examples.”

Flexibility/adaptability

I. “Tell me about the last new procedure you had to learn in your job. Tell me what specifically was the hardest aspect of learning the new procedure. Tell me specifically what you liked best about learning the new procedure. How well is the new procedure working now?”

II. “Describe a situation where you were responsible for getting others to make a change. What role did you play and what actions did you take? What was the outcome? If you had to do it again, would you do anything differently?”

III. “Tell me about a specific time when staff reductions required restructuring of the workload. How did you do the restructuring? Who specifically did you involve? How did you involve them? Why did you involve those whom you did?”

IV. “Describe an instance when you had to think on your feet to extricate yourself from a difficult situation. What caused the situation? How did your solution work?”

Interpersonal effectiveness

I. “Describe a situation where you felt you had not communicated well. How did you correct the situation?”

II. “Describe a time when you’ve had to work with strong-willed peers. What did you do? How did you handle them so you could influence their decisions?”

III. “Describe the most challenging negotiation in which you were involved. What did you do? What were the results for you? What were the results for the other party?”

IV. “Tell me about a time when you had to use your presentation skills to influence someone’s opinion. How did you prepare for the presentation? What points did you emphasize? How was the information received?”

Organizational stewardship

I. “Give an example of a time you defended your organization. How did you feel about doing it? How did you go about doing it? What was the response of the other party/parties?”

II. “Describe a time when you worked as a member of a team to accomplish a goal of your organization. What role did you play? Describe how the team worked together. What was the outcome?

III. “Describe a time when one of your staff or your work team was working above work expectations. What was your response? How did the other party/parties respond?”

IV. “Tell me specifically what you have done to create an atmosphere of trust and empowerment within your sphere of influence. What tangible results have you seen from your efforts?”

work rulesHachetteBock’s new book, “Work Rules!”

Personal mastery

I. “Name three things you have done in the past two years to grow in your job.”

II. “Describe a situation where you can take credit for the growth and development of a staff member or co-worker. Be specific about your role in terms of interactions and the outcome.”

III. “In a supervisory role, have you ever had to discipline or counsel an employee? What was the nature of the discipline? What steps did you take? How did that make you feel? How did you prepare yourself?”

IV. “Tell me about a specific time you sought specific feedback on your performance from subordinates. Specifically, how did you use the feedback? Cite specific changes resulting from the feedback.”

Systems thinking

I. “How does the work you are currently doing affect your organization’s ability to meet its mission and goals? Do you think your work is important? If yes, why? If no, why not?”

II. “In your current job, what organizational change have you made or contributed to that you are proud of? How did you go about making the change? What has been the impact of the change?”

III. “Describe a change you are responsible for that improved the performance of your work area or organization. How did: 1) you come up with the idea for the change, 2) you go about implementing the change, 3) staff respond to the change, and 4) you measure the outcome of the change? In looking back, what things would you do differently?”

IV. “Tell me about a specific decision that you made within your organization that had unexpected consequences outside your organization. How did you deal with those consequences?”

You can find many more questions at the VA’s website.

Businessinsider.com | April 15, 2015 | 

http://www.businessinsider.com/google-laszlo-bock-interview-questions-2015-4#ixzz3XOWKYByz