Succession planning is a hot topic of conversation in today’s offices and boardrooms. But talk is cheap and talking about it vs. doing it are two entirely different things. Whether you are a Fortune 500 executive or the head of a family-owned business, a good succession plan can make or break your company’s future success. So how do you design a succession planning organization strategy?
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Take Samantha, for example. She had to step into the CEO spot at her family-owned company when her father became ill. The first thing she realized was that nobody in the company was prepared for this emergency, including herself. The second thing she realized was that they weren’t prepared for any similar contingencies throughout the entire company. Without succession planning, their entire organization might go down in flames at the next emergency. Samantha went to work immediately to … Continue reading Succession Planning Organization
Traditions and myths about best work practices cloud the workforce. Some of these beliefs have influenced businesses for generations.
New studies, however, are showing some of the commonly understood methods of motivating and retaining employees are not based in facts. They are myths.
Check out these five areas where common wisdom will yield poorer results than unexpected actions.
More Pay Makes a More Satisfied Employee.
While pay can influence motivation and employee retention, it is not the magic bullet. Simply throwing money at your employees in the hopes of keeping them is ineffective. A McKinsey Quarterly survey showed that cash, bonuses, or options motivated only 35-60% of workers.
Workers were more motivated by praise from managers (67%), recognition from company leaders (63%) or opportunities to lead projects (62%).
While money can influence, other factors also play an important part in employee satisfaction.
Keeping Your Best Workers Gives Better … Continue reading Employee Motivation & Retention
It’s been said that your house or 401K is the biggest investment you’ll make in your lifetime. That’s not true. Your career, by far, offers the potential for greater rewards monetarily, as well as in personal fulfillment. Here are 5 steps to enhance your career success.
Think strategically It’s essential that you assess your organization’s resources, goals and plans for the future and align your leadership strategies accordingly. A leader with true executive presence can assess his or her company’s business model and growth strategy, as well as the capabilities of its people and processes, and use this information to out-think the competition. Communicate from a financial framework The higher you advance, the more bottom-line, financial responsibilities you’ll assume. It’s imperative you know how to communicate accomplishments in terms of specific, measurable results. This will clearly demonstrate your value and enhance your credibility. Effective financial communication will help you … Continue reading 5 Steps to Enhance Your Career
Has it ever puzzled you why people act the way they do? Have you ever been amazed that someone did something absolutely opposite of what you would have expected?
One essential quality to develop effective leaders rests in leaders understanding people. Why do they do what they do? Then working with those personalities and character traits to guide, motivate, inspire, and lead.
How can you understand people?
When others don’t think and act the way we do, we are sometimes stumped about how to motivate and lead employees. Fortunately there are a number of tools to help leaders assess their team and understand their personalities.
Myers-Briggs is the classic test, but many new personality assessments now make it easy to predict how your employees will act and what will motivate them to excel.
Find a good program and have your entire team take the assessment. Then spend time with … Continue reading Develop Effective Leaders