Next Generation Next Destination

THOUGHTS FROM "WALL STREET'S HONEST MAN" (so dubbed by Forbes)

Yesterday I attended an interview style talk with JAY  S. FISHMAN, Chairman and CEO of The Travelers Companies, Inc., at Baruch College's annual program named for prominent alum Burton Kosoff and set up by his wife, Phyllis. Fishman was notably straightforward, authentic, down-to-earth - and interesting. Here are some nuggets  for all four of the generations attending and beyond.

• “No one plans to go into insurance. I just wanted to pay the rent on my apartment.”
• “Life is always two ways.”
• “Sandy Weill (one of his mentors and bosses) was unbelievable about asking everyone ‘What do you think?’ He understood collaboration.”
• About experience: You need touch points and instincts to have the capacity to be accountable in an organization. This is separate from intellectual capacity. (slightly paraphrased)
• “As a leader, be careful what you ask people to do. They will try ther best to do that. You might not like how they do it.” (i.e., what they do to accomplish what you ask them to do)
• Fishman worries about our being a generation of “here and now,” wanting the newest thing all the time. Not saving.
• People need to be involved and engaged, not just contributing to charitable giving.
• In response to the question: What is the best mentoring role we can play? “Honest feedback is a gem.”

 

TRANSITIONING TO LEADERSHIP

Many CEOS and coaches give their definitions of leadership, and there are many similarities. I pass on this one from the Corner Office column in the New York Times Sunday Business section (1/6/13) from an interview with G. J. Hart, CEO and president of California Pizza Kitchen.

1. Be the best you can be, including honest about your good and bad qualities and things to improve.
2. Dream big. Stretch or you don’t get started, even if you never get there, it’s a motivation.
3. Lead with your heart first, showing your compassion.
4. Trust the people you lead. Let go when appropriate. Allow others to grow. Leaders pick people back up if they fall down.
5. Do the right thing, always, including giving a second chance to people you believe in.
6. Serve the people you lead. Put the cause before yourself, and be willing to see it through.

Hart says #4 is often the hardest for young people. It takes time to build confidence in yourself and get over the insecurity that may come from lack of experience as a manager or leader.

What do you think of these steps or principles? Do they resonate with you? What would you add or subtract?

Phyllis Weiss Haserot     www.pdcounsel.com

2013 - THE YEAR OF CROSS-GENERATIONAL CONVERSATION

I’m declaring it, and I mean to see it spread as plans for our “big idea” unfold.

Why do we urgently need cross-generational conversation now in the world at work, in these times?  7 reasons.

*  Knowledge transfer is vital. We have more information to capture than ever, so there is more at stake to lose.

*  Businesses need to avoid losing clients and customers of other generations and obtain new ones

*  We need to transform information to knowledge to wisdom. That requires sharing perspectives and mutual mentoring.

*  We are connected to each other facing common problems that we can only solve for the long-term through multigenerational collaboration.

*  Over-emphasis on electronic communication means we are losing the personal touch and the full communication of non-verbal cues.

*  Looming inter-generational wealth transfers are challenged by family member emotional blocks and lack of effective communication

*  Young people are hungry for it. They want to know what older people know. That’s the feedback I get as I talk with and mentor students and young workers in my work.

This year and going forward build awareness and re-think the importance of cross-generational conversation at work.

As Gandhi urged us: “Be the change you wish to see in the world.”

Wishing you all a healthy, joyful, fulfilling and successful new year and fun celebrations!

To learn more and get started, contact me.

Phyllis Weiss Haserot   www.pdcounsel.com pwhaserot@pdcounsel.com

 

ON TO THE NEXT NEW THING

In an interview in Adam Bryant’s New York Times “Corner Office” column, Geoffrey Canada, CEO of Harlem Children Zone, gave his view that while many people in an organization are eager to try fresh new concepts and approaches, many of them forget to adhere to and reinforce ideas that already have proven to make the organization successful. He says to never forget the basics in order to stay great.

Yet we hear equally often that many people tend to resist new concepts and approaches.  Is eagerness to try new things and abandon the old to do something novel a generational trait or a matter of personal behavioral style?

Phyllis Weiss Haserot    www.pdcounsel.com

 

LEADERSHIP TRANSITIONS: How to Use the Intersection of Generations and Gender to Raise the Return for Everyone

Lately I find myself engaged in conversations, mostly raised by Boomers and the older half of Gen Xers about what might be called the intersection of gender and generations issues. Several women expressed the strong belief that women have actually made little or no progress in attaining leadership and management positions in the last 10 years except when it’s their own businesses.

At least a few women who talked with me believe that as a society we have adopted the habits of politically correct speech, and that has swept true attitudes under the rug and made it seem like women have reached a greater degree of equality in the corporate environment and media treatment than they actually have. They believe that we as a society have actually regressed. The other “symptom” is that having made some visible strides, men act as if the gap problem is solved, and there is less talk leading to action than there used to be 

On the other hand, my inbox continues to be filled with e-newsletters and updates from politically active groups, industry professional organizations and media watchdogs that persistently and energetically keep these issues in the forefront. Perhaps we are not getting the same mail and attending the same meetings?

Yes, I think we still have a long way to go. And I think the best strategy for achieving more success for everyone is to sincerely and substantively involve men in the solutions. Down with lip service. So here is one of the best opportunities to take advantage of the intersection with generational attitudes. The younger generations are not only accepting but also demanding all kinds of diversity. They see gender as less of an issue than their older colleagues do. 

Here are my reasons for optimism. (Yes, I am a born optimist, but one that doesn’t like being disappointed.) I emphasize that these are general patterns, not absolutes, and we need to recognize individual situation and avoid stereotypes.

• Gen Y makes smaller gender distinctions as to relationships, capabilities, ambitions, leadership and tenure than older generations do.
• Collaborative styles, which are comfortable for many women, are favored by the younger generations. Collaboration is necessary for solving ever more complex problems.
• With more women making purchasing decisions on the client side, more women and other diverse professionals will be designated to lead client teams and business development opportunities. Economic factors are strong attitude influencers.
• Younger men are about as focused on family (dual-centric) as women are and desirous of restructuring the workplace so it works better for people.
• Women are gradually learning the importance of rainmaking to their careers, the importance of getting sponsors, not just mentors, helping each other and learning to be more confident in negotiations.
• While unconscious bias is still common, a desire for rejuvenating professionalism among all generations (as revealed in the findings of the Practice Development Counsel survey soon to be released) will gradually shrink the gap in leadership and increase opportunities for women. Professionalism will increasingly trump gender biases.
• There is a growing awareness of the value of gender neutrality in producing organizational success.
• Everyone gets older – we can’t stop it – so more people with gender bias will be transitioning out of the workplace.

This is not occurring, and probably will not happen, fast enough to please women and accelerate the success of many businesses. But I believe it will happen faster if we take the focus off difference and involve stakeholders of all generations and genders in achieving common goals of productivity, client retention, succession planning and professional excellence.

This is a controversial subject, and we need to give it the attention it deserves. I urge you to send your comments, provocative or not.  Let’s keep a lively dialogue going.

Phyllis Weiss Haserot    www.pdcounsel.com 

NEXT GENERATION LEADERSHIP - NAME THE STARS?

Should firms tell people they are “high potentials”? Most don’t. 

A recent report (October 2011) from Towers Watson found just 68% of 316 surveyed North American companies identify their high potential employees, but only 26% actually tell them they have been so designated.

Wouldn't letting them know be apt to inspire and motivate potentially star performers? The biggest fear is that labeling “high potentials” will alienate people who are not. Or it might create expectations the company cannot ultimately fulfill.

What do you think: to tell or not to tell? Please share your thoughts and comnents.

Phyllis Weiss Haserot     www.pdcounsel.com 

 

PROGRESS-ENGAGEMENT-PRODUCTIVITY: THE PEP FORMULA

Gallup estimates the cost of America’s disengagement in the workplace crisis is $300 billion in lost productivity annually.

Research by Teresa Amabile, a Harvard Business School professor, and Steven Kramer, an independent researcher, co-authors “The Progress Principle,” revealed the #1 factor that keeps people engaged in their work. It also revealed the disconnect with managers’ perception of the most important motivators. As Amabile and Kramer wrote in a New York Times Opinion piece, “Do Happier People Work Harder?” (9/4/11), “Conventional wisdom suggests that pressure enhances performance; our real-time data, however, shows that workers perform better when they are happily engaged in what they do.”

From 12,000 diary entries kept by 238 professionals in seven different companies, the researchers discovered that the single most important factor engaging people in their work – by far - is making progress in meaningful work.

Apparently, most managers don’t get it. Amabile and Kramer wrote ”When we asked 689 managers around the world to rank five employee motivations in terms of importance, they ranked “supporting progress” dead last. Fully 95 percent of these managers failed to recognize that progress in meaningful work is the primary motivation well ahead of traditional incentives like raises and bonuses.”

The catalysts for progress are: worker autonomy, sufficient resources and learning from problems. The researchers think that if leaders believe their mission is, in part, to support workers’ everyday progress, we could end the disengagement crisis that several studies revealed and increase the work force’s well-being and economic productivity.

The stats are there. How can we convince organizational leaders that the investment in “supporting progress in meaningful work” will have tremendous ROI in terms of productivity?  Please share your thoughts.

Phyllis Weiss Haserot    www.pdcounsel.com

 

FORMULA FOR CREATIVITY COMPETENCY IN LEADERSHIP

Beyond tinkering around the edges, creativity is needed to make significant business model changes that meet the needs of an uncertain, interdependent and nervous world.

In IBM’s last Global CEO Study, CEOs, general managers and senior public sector leaders around the world said that creativity is the number one leadership competency needed going forward. The increasing uncertainty and complexities in the world as we know it now is the reason these top managers give for that choice of top competency.

More than just tweaking of systems, answers on how to run, organize and develop business, deeper business model changes are needed. Leaders will have to take more calculated risks and develop new ideas. They will need to be continually innovating in how they communicate and lead.

More than half of the survey respondents doubt their ability to manage the complexity. (Do professional services firm leaders feel and admit this same doubt?)

So how will they do it?

Here’s the formula suggested for creative leadership success:

• Collaborating with customers and other stakeholders to integrate them into their core processes and co-create products and services
• Making strategic planning an ongoing process to respond quickly to market and other significant conditions
• Figuring out how to incorporate non-financial rewards to motivate personnel into the mix and strong focus on a “people strategy”

Source: Reported in Herman Trend Alert (August 3, 2011)

How many organizations are willing? Are they going to stop being primarily reactive and invite and listen to innovative ideas from stakeholders of various worldviews, generations, diverse characteristics and skills? Courage is needed to harness creativity.

Phyllis Weiss Haserot    www.pdcounsel.com

 

 

 

MAKING THE MOST OF UPSIDE-DOWN REPORTING RELATIONSHIPS - Part 2

In the previous post I provided guidelines for the more senior in age team member who is assigned to work for a younger supervisor.  Sometimes this happens after a long career, possibly including leadership positions. The demographics of the current and future workplace are resulting in some unconventional structures. The younger manager, though ostensibly in charge, may feel as awkward as the older colleague. Even if not feeling insecure in the role, there are things the younger manager can do to foster a harmonious and productive relationship.

Here’s some advice to promote trust and cooperation.

• Keep in mind the purpose of your work. What are the common goals for team members?
• Show respect for experience.  (Some day you will be the experienced, older person.)
• Ask for advice, even if you think you know what the best approach is. Invite input and listen.
• Build allies among the older generations on your team for advice and support.
• Surmount “just a kid” perceptions through your performance and involving others. Use your collaborative skills and don’t make a show of coveting praise and credit.
• Get your older team members what they need to do their jobs well – resources, approvals, etc. (That will help them make you look good.)
• Give seasoned team members freedom, but establish boundaries and communications requirements upfront.
• Identify what motivates each individual and what type of recognition is meaningful to each.
• Give appropriate credit to others and arrange for their recognition.

A solid and harmonious relationship with older colleagues will pay off in spades for building your career, access to their (often high-powered) networks, and organizational success. Demographics indicate that this is the wave of the future.

Phyllis Weiss Haserot    www.pdcounsel.com

 

MAKING THE MOST OF UPSIDE-DOWN REPORTING RELATIONSHIPS

One workplace reporting relationship that used to be fairly rare is older workers reporting to younger managers. This is a growing phenomenon and will become more prevalent until the younger Boomers stop working in any form. As Boomers transition from leader and top expert roles to new roles that allow the next generations to move up the ladder, we will see what traditionally have been unconventional structures.

Though some people deal with it well, in many cases at best it is awkward, at least at first. At worst, it has led to a lawsuit. But serious tensions and confrontations can be avoided.

Both the younger and the older parties to the relationship can feel uncomfortable. A new young manager may feel insecure and even intimidated. An older team member can be unsure of how to react as well.  Having worked extensively with all the generations, I will offer some tips in a 2-part blog post.

In this first piece, here are some guidelines for the older subordinate.

• Establish common goals. Focus on the purpose of your work.
• Be open to new ideas and methods. Don’t obsess on differences in how you were taught, what always has served you as the best method, or whether the manager has preconceived notions about how you think and operate.
• Be generous about giving advice – when asked. Create a non-threatening environment so you will be asked. Don’t be pedantic about advice and unsolicited opinions.
• Seek out younger co-workers, and learn from them in a mentoring partnership.
• Find opportunities to disprove myths and perceptions of older workers.
• Be appreciative of how your young manager gives you support and provides tools to allow you to achieve top results.
• Be clear about preferred communication styles and media and about appropriate boundaries.
• Identify the younger manager’s motivations.
• Be appreciative of recognition you are given, and reciprocate.

These tips will help start the relationship off on an even keel and minimize expending of negative emotional energy.

Next up: what the younger manager can do to build a collaborative and non-threatening environment.

Phyllis Weiss Haserot    www.pdcounsel.com