Archives for December 2017

Read to Lead Podcast #194: Leadership from the Inside Out with Kevin Cashman

readtolead
Kevin was recently interviewed by Jeff Brown with the Read to Lead Podcast about the updated 3rd edition of Leadership from the Inside Out.

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The Reading Lists with Kevin Cashman

By Phil Treagus, originally posted on TheReadingLists.com on October 30, 2017. 

How do you describe your occupation?

As the Global Leader of CEO and Executive Development at Korn Ferry (with 130+ offices and consultants around the world), we foster the accelerated growth of CEOs and CEO Successors to ensure sustainable, purpose-driven enterprise growth. Also, I authored Leadership from the Inside Out and The Pause Principle: Step Back to Lead Forward; am a worldwide keynote speaker, and write a leadership column for Forbes.com.

Talk us through a typical day for you…

How about an ideal ‘typical’ day? A day that balances pause, purpose and connection is ideal. On these days, I feel rested when I awaken, take Leo, our Golden Retriever on a walk through the woods along the lake, hopefully gathering inspiration and creative clarity. My best writing often emerges on these walks! I enjoy some time to exercise a bit more, then some writing, maybe a new Forbes article, a keynote or book project. Shifting focus, I work with CEO and CHRO clients, co-creating meaningful breakthroughs. I engage with my team and consultants in the office. At home, in our meditation studio, enjoy dinner and conversation with my family, then maybe a movie or a good book in front of the fire, while Leo jumps in our bed and snuggles-up to sleep.

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Finding the Keys to the Corner Office

By James Lewis, Senior Director, Research, Korn Ferry Institute.  Originally published February 13, 2017 on Korn Ferry Institute. 

It matters in wars, in most sports and, to some extent, in games of chance. But does it really take courage to get into the upper echelons of a company?

Slowly but surely, science is finding ways to measure the traits and skills that tend to succeed in corporate hallways, and it’s getting more exact by the day. In fact, based on executive responses from Korn Ferry’s Four Dimensions of Leadership Assessment (KF4D) tests, it’s possible to rank the skills in two ways: those more common among C-suite types than midlevel managers, and those in more successful or engaged top executives. In other words, a guide to getting into the corner office—and staying there.

Looking at these traits by industry, it turns out fortune does indeed favor the bold, with courage the top trait in the financial services sector, and the second highest in professional business services. It’s also in the top five of at least three other major fields. But a bit of advice for C-suite executives: tuck that brashness away once you’ve made it to the top. Managing ambiguity, instilling trust, planning, persuading—these are the top traits for highly engaged versus low-engaged C-suite types.

Of course, no guide is perfect, and few people can pull off a personality makeover. The takeaway: Try. “It’s not easy for someone who doesn’t innately possess specific competencies to start exhibiting them,” says Stu Crandell, senior vice president, Korn Ferry Institute. “But proper development and practice can help.”

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The Bitcoin Disruption

By Melissa Swift, John Petzold, Kevin Cashman, and Leslie Gordon; originally posted on Korn Ferry Institute on December 6, 2017.

A recent headline in Barron’s announced it quite plainly: “Bitcoin Storms Wall Street.” And, no kidding, the cryptocurrency has jumped in value more than 10 times since the start of the year, making this year’s stock market gain look boring. Last week, it joined the financial world’s mainstream when US regulators approved the trading of bitcoin futures. Two of the world’s biggest exchanges, the CBOE Futures Exchange and the CME, will offer investors bitcoin-related products later this month, with other exchanges around the world likely following suit next year.

At this kind of pace, experts say, both the currency and blockchain, the technology behind it, represent a clear threat to the way many businesses may operate in the future. And yet many corporate leaders may be still be clueless about it all. “Things are moving so fast that decisions are being made with incomplete information,” says John Petzold, senior client partner, global leader, CXO Optimization at Korn Ferry.

To some degree, however, CEOs and others can rely on various formulas from the past to deal with disruptions, even on this level. Here’s a brief roadmap […]

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New Podcast with Talent10x: Why Leadership is More Important Than Ever

By Frank Kalman; originally posted on Talent Economy on December 6, 2017. 

Managing Editor of Frank Kalman interviews Kevin Cashman, senior client partner at executive recruiting firm Korn Ferry and author of the book “Leadership from the Inside Out.”  The two talk about how leadership has evolved in recent years as well as why the skill has become more important in business than ever before.

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On Transformative Leadership: Step Back to Lead Forward

The power of purpose

By Rick Lash and Peter Aceto; originally posted to The Globe and Mail on December 2, 2017. 

Having a strong purpose is a fundamental component to a happy, fulfilling life. People with a positive, engaging purpose tend to be more focused, optimistic and successful in what they do. They love going to work every day because they’re doing work that is most meaningful to them and they feel they’re working for an organization that is making a positive difference in society.

But many millennials report that they are experiencing a lack of purpose at work. Part of the reason is what Craig Ryan, director of social enterprise at the Business Development Bank of Canada (BDC), calls pervasive short-termism. “Companies that drive too quickly to targets create an imbalanced view of what value is.” For many millennials, he says, there is a dismay with conventional businesses that only focus on driving profit to the exclusion of all else. Customer service reps are feeling pressured to sell financial products to customers who don’t have a need; people hoard work or sales opportunities to meet their own numbers instead of collaborating and supporting each other.

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The Best Companies Know How to Balance Strategy and Purpose

By Laurent Chevreaux, Jose Lopez, and Xavier Mesnard.  Originally posted on HBR.org (Harvard Business Review) on November 2, 2014. 

Most companies have articulated their purpose — the reason they exist. But very few have made that purpose a reality for their organizations.

Consider Nokia. Before the iPhone was introduced, in 2007, Nokia was the dominant mobile phone maker with a clearly stated purpose — “Connecting people” — and an aggressive strategy for sustaining market dominance. Seeking to extend its technological edge (particularly in miniaturization), it acquired more than 100 startup companies while pursuing a vast portfolio of research and product development projects. In 2006 alone, Nokia introduced 39 new mobile-device models. Few imagined that this juggernaut, brandishing vast resources with such steely determination, could be quickly brought down.

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Sponsors Play Key Role in Advancing Women to CEO Level

By Kathy Gurchiek, originally posted on SHRM.org (Society for Human Resource Management) on November 29, 2017. 

Women who are chief executive officers typically did not see themselves in that role until a supervisor, mentor or sponsor urged them to seek the position.

That is among the key findings of Women CEOs Speak, a new report from the Korn Ferry Institute based on extensive interviews with 57 current and former female chief executives in the U.S. and psychometric assessments with two-thirds of the study participants.

Korn Ferry conducted the study to learn what qualities drive the women who make up 6.4 percent of U.S. CEOs. It conducted its research from February to July 2017 with 38 current and 19 former CEOs. Among participants, 23 are or were at Fortune 500 companies, 18 are or were at Fortune 1000 companies, and 16 are or were at privately held companies.

The findings point to the importance of sponsors and mentors in preparing women for leadership positions.