Here’s the No. 1 Reason Workers Are Seeking New Jobs In 2017

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By Scott A. Scanlon, Editor-in-Chief, Hunt Scanlon Media, originally posted on HuntScanlon.com on February 6, 2017. 

You might hate your boss or think you’re not paid enough, but if you lack a challenge in your professional life that’s the likely trigger to start you on the path to working someplace else. Here’s why.

The primary reason professionals are seeking new jobs in 2017 is to find a more challenging position. The quest for greater compensation comes in almost dead last as a reason to leave, according to a new global survey by Korn Ferry.

In the survey of nearly 2,000 professionals, nearly three quarters (73 percent) said that if they plan on being in the job market this year, it’s because they’re looking for a challenge. Trailing far behind, nine percent said they are looking because they either don’t like their company or their efforts aren’t being recognized, while five percent said their compensation is too low, and four percent said they don’t like their boss.

“These results mirror study after study Korn Ferry has done that show money is not the key motivator for employees,” said Kevin Cashman, senior partner at Korn Ferry. “Professionals who have progressed in their careers have done so for another reason. They’re passionate about what they do and need to feel that they are being pushed professionally and continually learning new skills.”

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Exploring the Power of Pause – New Podcast with Kevin Cashman and Innovation Ecosystem

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Link to Podcast

“Managers assert drive and control to get things done; leaders pause to discover new ways of being and achieving.”

~ Kevin Cashman, The Pause Principle

Let’s pause… take a breath… reflect on the day, on the week, on the month. Let’s create space for our minds to process, our moods to level and our thoughts to mingle.

This episode’s guest wrote a book on this phenomenon based on his extensive experience coaching, advising and researching leaders in some of the world’s largest companies. Kevin Cashman is a best-selling author, top-ten thought leader, keynote speaker, global CEO coach and pioneer of the ‘grow the whole person to grow the whole leader’ approach to transformative leadership. He is the founder of LeaderSource Ltd and the Chief Executive Institute™, recognized as one of the top three leadership development programs globally. In 2006, LeaderSource joined Korn Ferry, where Kevin is now Senior Partner, CEO & Executive Development.

As a thought-leader on topics of personal, team and organisational transformation, he has written six outstanding books on these topics including Awakening the Leader Within, and Leadership from the Inside Out, which was named the #1 business book of 2000 by CEO-READ and is now used at over 100 universities globally. He has written numerous articles for the likes of The Wall Street Journal, Forbes, Fast Company, Strategy & Leadership, and Directors & Boards Magazine among others. His latest book, The Pause Principle: Step Back to Lead Forward, is the culmination of many years researching and working with some of the world’s most successful executives and CEOs: it explores how leaders, and indeed all of us, must deal with the complexities of the highly globalised and digitised world in which we live by stepping back and taking time to reflect, observe and, essentially, “smell the roses”. The book provides a practical process that individuals, teams and organisations can apply to inspire personal growth, developing others and providing space for innovation.

In today’s episode, Kevin and Mark discuss the rationale and research behind The Pause Principle which aligns strongly with the notion of “creating space” explored by previous guests like David Allen, Lisa Bodell and Heiko Fischer, among others; about Kevin’s new interest in the concept of “story mastery”; and finally some fresh insights into the qualities of a great versus a good leader.

 

Majority of Executives Would Not Take Job of U.S. President

By:  Scott A. Scanlon, Editor-in-Chief, Hunt Scanlon Media.  Originally posted on HuntScanlonMedia.com on February 9, 2017. 

Eighty five percent of respondents to a recent survey said they would rather be CEO of a company than chief executive of the nation. Here’s some surprising reasons why.

A vast majority of corporate professionals would much rather take the helm of their own organization than become President of the United States, according to recent survey by Korn Ferry. In a survey of nearly 1,500 respondents, only 15 percent said they would choose being chief executive of the highest office in the land over being CEO of their own company.

“In a way, you could consider the incoming U.S. President as the next national CEO,” said Korn Ferry Hay Group senior partner Rick Lash. “While serving as a corporate CEO is generally considered a very challenging role, executives acknowledge the U.S. President faces hurdles that are much higher than those faced by a leader in corporate America.”

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Job Switchers Seek New Challenges Above All

By Roy Maurer, originally posted on Society for Human Resource Management Online, January 30, 2017.

The desire for a new challenge is the top reason workers switch jobs, according to a survey conducted by executive search firm Korn Ferry International.

Nearly three-quarters of 1,958 respondents (73 percent) cited the lack of a challenge in their current role as the main reason why they would look for a new job in 2017. Other reasons given were not feeling recognized and not liking their employer (both at 9 percent), compensation that is too low (5 percent), and not liking their boss (4 percent).

Of those planning to seek a new job in 2017, most (76 percent) said that they would look for another job in their current career, while 13 percent said they would apply for a job in an entirely new career field.

Kevin Cashman, a senior partner with Korn Ferry, said that the survey results mirror a series of studies he’s seen that show that money tends not to be the main motivator for job switching.

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The Global Leadership Dilemma: To Be Inclusive Or Not To Be Inclusive?

By Kevin Cashman, originally posted on Forbes.com

We are witnessing an impassioned debate playing out in our political and cultural worlds. Should we serve our own interests or the broader interests? Should we put America first or the world?  Should we place our company interests first, our customers’ interests, or the environment? Should we place our career success as primary or our team’s success? The answer to these and other salient questions is obvious. “Yes.” We need to do it all.

However, today’s debate tries to force a decision—one or the other— on issues that call for dynamic and tough reconciliation.  All our leadership research spanning millions of senior leaders globally suggests that leadership involves the constant reconciliation of the “I” and the “We” domains of leadership. When do we push and drive for our own way, excluding the views of others, and when do we involve others: listen, collaborate, and synthesize their insights for a more diverse and inclusive view?

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Why Purpose Should Be A Pivotal Part Of Your Business Strategy

By William Vanderbloemen, originally posted on Forbes.com.

The secret to better and bigger work may not be better and bigger numbers. A recent study from Korn Ferry showed that companies with teams focused on their organization’s purpose had annual growth rates nearly three times the annual rate for their entire industry.

According to the survey, 90% of people who worked in a purpose-driven organization reported feeling engaged in their work. In companies that aren’t as focused on purpose, only 32 percent of employees reported feelings of engagement and connectedness with the work they were doing.

But practically, how do you accomplish this? In a sales-driven world, it can be hard to shift focus without feeling like you might suffer in your business. Here’s some ways we’ve focused on driving purpose and increasing work engagement at Vanderbloemen.

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The Trillion Dollar Difference

Although organizations obsess over technology and its promise, people hold huge, measurable value, and they can’t be neglected in the future of work, Korn Ferry research finds.

Visit Korn Ferry Institute for an interactive exploration of The Trillion Dollar Difference whitepaper, as well as the whole Future of Work study.

Authentic Influence

By Kevin Cashman

This article was originally published in Caring Magazine; volume 22, no. 04, Winter 2016/2017. 

What is authentic influence?  It is the true voice of the leader, and when we speak it from our character, it creates trust, synergy, and connection with everyone around us.  Authentic influence is not simply refining our presentation style; it’s deeper than that.  Some of the most authentic leaders I know stumble around a bit in their delivery, but their words come right from their hearts and experiences.  You feel their conviction and the integral connection of who they are and what they say.  As Benjamin Franklin wrote, “Think innocently and justly, and, if you speak, speak accordingly.”

Authentic influence is about straight talk that creates value.  It’s not about hurting people with bluntness or insensitivity.  Expressing yourself authentically is sharing your real thoughts and feelings in a manner that opens up possibilities, and sometimes it’s the most difficult messages that can open up the most possibilities if shared in a thoughtful, compassionate manner.  Influencing authentically is what one CEO I know calls “caring confrontation”– the unique blend of straight talk with genuine concern for people.  Like many leaders, my CEO friend had been uncomfortable with such interaction for years.  As his career progressed, he realized, “Real caring involves giving people the tough feedback they need to grow.”

Carl Jung said it this way:  “To confront a person in his shadow is to show him the light.”

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Purpose-Powered Success

By Korn Ferry Contributors, originally posted on the Korn Ferry Institute on December 6, 2016. 

It turns out in a growing number of industries, purpose has a purpose.

According to a new Korn Ferry study, consumer companies that focused their employees on the organization’s purpose boasted annual growth rates that were nearly triple the annual rate for the whole sector. And the benefits go beyond financial. The study also found that having an authentic purpose can help create and retain talent, win over customers, and have positive impacts on broader society.

The study, called “People on a Mission,” examined a broad set of purpose-driven organizations, including interviews with 30 founders, CEOs, and senior executives at consumer companies with visible and authentic purposes, engaged employees, customer-oriented cultures, and strong financial results. “We have found that organizations that take the challenging steps to define their core purpose and values, and integrate these throughout their operations—beyond slogans or advertising gimmicks—see not only strong bottom-line results, they also find this approach transforms all aspects of their business,” said Elaine Dinos, principal of Korn Ferry’s Global Consumer Market practice. “When an organization has a clear purpose, it unleashes the power and drive of the entire workforce, harnessing and focusing that combined effort in one aligned direction.” Indeed, the study found that companies with the proper focus posted compounded annual growth rates of 9.85% compared to a 2.4% for the whole S&P 500 Consumer Sector.

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Follow these links to download the People on a Mission study, as well as the Consumer Market Study Summary of this report.

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The trillion-dollar difference

By Korn Ferry Contributors, originally posted on the Korn Ferry Institute on December 1, 2016. 

Although organizations put technology in the spotlight in the future of work, it is, in fact, human capital that holds the greatest value for organizations now and in future, new Korn Ferry Hay Group research finds.

An economic analysis commissioned by the firm and conducted by the Centre for Economics and Business Research finds that human capital represents to the global economy a potential value of $1,215 trillion. It is 2.33 times that of physical capital, which includes tangible assets like technology, real estate, and inventory. Physical capital, the analysis performed for Korn Ferry indicates, should be valued at $521 trillion today. Nothing can match the greatest asset of any organization: its people, says Gary Burnison, CEO of Korn Ferry (read “People Are No Longer The CEO’s Most Important Asset” for more of Burnison’s insights).

“Leaders are placing a high emphasis on technical skills, technological prowess, and the ability to drive innovation in their new senior recruits–elements critical for modern organizations,” says Korn Ferry’s Alan Guarino, vice chairman CEO services. “However, the financial reality proven by this study–that the value of people outstrips that of machines by a considerable distance–must give CEOs pause for thought. So-called ‘soft skills,’ such as the ability to lead and manage culture, will become critical factors of success for companies in the future of work as they seek to maximize their value through their people.”

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