Companies with a purpose beyond profit tend to make more money

Article by Simon Caulkin.

One of the paradoxes of business is that the most profitable companies are not those that are most profit-focused.

In a survey titled “The Business Case for Purpose”, a team from Harvard Business Review Analytics and professional services firm EY’s Beacon institute declares “a new leading edge: those companies able to harness the power of purpose to drive performance and profitability enjoy a distinct competitive advantage”. This is a reprise of the findings of Jim Collins and Jerry Porras, who in 1994’s Built to Last found that between 1926 and 1990 a group of “visionary” companies — those guided by a purpose beyond making money — returned six times more to shareholders than explicitly profit-driven rivals.

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Kevin Cashman on Leadership – The Real Deal

Robert Hargrove did a recent interview with Kevin Cashman for a book he is working on called Letter to a Young Leader.

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Korn Ferry Hay Group Program Recognized with Leadership Excellence Award

Executive to Leader Institute Awarded with Best Global/International Leadership Program Honor

LOS ANGELES, May 5, 2016 – The Hay Group division of Korn Ferry (NYSE:KFY), the preeminent global people and organizational advisory firm, has announced that one of its flagship programs is the recipient of the prestigious Leadership Excellence Awards, which acknowledge the best leadership programs and executives in the United States. Produced by HR.com, the awards salute the top 10 percent of applicants across 34 categories.

The “Best Global/International Leadership Program” award honor was given to Korn Ferry Hay Group’s Executive to Leader Institute.

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The No. 1 thing CEOs want from executive coaching? Self-awareness

Executive coaching once carried a stigma, much like psychotherapy, in part because it was mainly employed to solve a problem or to “fix” difficult personalities.

Now, it’s become so common for top executives to be coached that it’s viewed as a perk, a sign of having arrived at the top.

Executive coaching has grown into an industry with an estimated $1.5 billion in annual revenue and more than 20,000 dues-paying members of the International Coach Federation. Surveys indicate that most of the biggest companies now use coaches. What their executives most often talk about in these sessions isn’t their business strategy, but themselves.

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AESC Lifetime Achievement Award Acceptance

Kevin Cashman Speaking on “Purpose”

Real World Leadership – Leading with Purpose to Sustain Superior Results

Korn Ferry has just released the fourth and final report in the Real World Leadership series. The report examines the business effects of connecting leadership development to organizations’ aims in social responsibility. It is based on key findings from a recent Korn Ferry global survey which collected responses from over 7,500+ business and HR leaders in 107 countries around the globe.

Organizations who make this crucial link develop purpose-driven leaders and superior levels of engagement and performance—ensuring a sustainable enterprise. Yet many organizations fail to make this link and suffer depressed employee satisfaction, engagement, and retention.

Read more on the Real World Leadership website here.

Strategy Activation: Who leaders need to be and what they need to do

Article by Wendy O’Connell

Leadership development is a catalyst for personal as well as professional growth—something that is easy to talk about, but very difficult to achieve. To develop and change, leaders need real-world experiences, plus time to reflect on them with their peers. This way they have an opportunity to brainstorm new ideas and plans of action. When leaders discover who they need to be and what they need to do, they are poised for meaningful development.

Korn Ferry’s four dimensions of leadership and talent breaks down exactly who leaders need to be and what they need to do to succeed (Crandell, Hazucha, Orr, 2014). Two of these dimensions—competencies and experiences—focus on what leaders need to do. The other two—traits and drivers—focus on who leaders need to be. By addressing the whole person in this way, leadership development moves beyond simple skill building and helps people realize their potential. They can then bring that energy and passion to the teams they lead.

– See more at: http://www.kornferry.com/institute/strategy-activation-who-leaders-need-be-and-what-they-need-do?popular

Strategy Activation: The power of service and purpose

Article by Noah Rabinowitz and Bernadine Karunaratne

The drive of self-interest has become a prevalent dimension of everyday life. This societal trend toward self-interest, materialism, and competitive aggression, has been documented in magazines and books, including The Narcissism Epidemic by Jean Twenge and Keith Campbell. Leadership development—or any course of self-improvement—requires a degree of self-involvement, but there is a big-picture risk to the growing culture of “me.” Unfortunately, a rising tide of self-interest can jeopardize longterm organizational progress and strategy.

To create a sustainable impact that goes beyond quarterly statements, leaders need to embrace a purpose beyond themselves. Most leaders will naturally express a desire to do this. They want to create, serve, build, and improve in the service of a broader and more long-term goal. This sense of meaningful contribution is the reason people get satisfaction out of mentoring and teaching others. However, many leaders suppress this desire in order to serve more practical, short-term objectives. People want to serve others, but for many reasons often end up serving only their own more immediate agenda.

– Read the rest at: http://www.kornferry.com/institute/power-service-and-purpose?reports-and-insights

Leadership development: CEOs’ strategic powerhouse

Article contributors: Kevin Cashman, Pushp Deep Gupta, Noah Rabinowitz, Dési Kimmins, Bruce Jackson, David Dotlich, and Michael Van Impe

The CEO’s imperatives for leadership development.

The moment a CEO starts a job, the clock starts ticking. With S&P 500 CEOs seeing an average tenure of nine years, senior leaders must hit the ground running—formulating and executing transformational strategies and, ultimately, creating a better organization. Korn Ferry research has identified the alignment of business and talent strategies as a critical task for directors, CEOs, and chief human resources officers. And some of the notable strengths of the top 20% of CEOs, based on Korn Ferry’s comprehensive leadership performance simulation, include developing strategies and driving growth. But even these outliers among CEO talent don’t do it alone. Success requires the hard work of leaders at all levels, who must make countless decisions and behave in ways that support the strategic direction and overarching purpose of the organization.

– Read the rest at: http://www.kornferry.com/institute/leadership-development-ceos-strategic-powerhouse