8 Steps For Helping Your Employees Accept Change

Article by Brent Gleeson, originally posted to Forbes.com on October 17, 2016.

Organizations of all sizes are in a constant state of change now more than ever. External and internal factors include but aren’t limited to growth, lack of growth, economic cycles, emerging technologies, shifts in the competitive landscape, figuring out how to best lead this generational workforce, cultural gaps and communication challenges.

One of the most important roles a leader has is to drive necessary change and evangelize its importance. Obtaining buy-in and protecting the company culture are critical and this can only be done with clear and consistent communication and follow-through.

I’ve taken my companies through periods of change and it isn’t easy. I have definitely made mistakes along the way and applied those lessons in order to do it right the next time.

Read More

What Now? Diversity and Inclusion in an Age of Trump — Post #3: Corporations have a Unique Opportunity to Provide Spaces for Dialogue and Healing

By Andrés Tapia, Senior Partner with Korn Ferry’s Diversity, Inclusion & Workforce Performance Practice.

Originally posted on LinkedIn.com on November 15, 2016.

CEOs have been calling me since the bombshell results of the US presidential election. They seek a sounding board for how best to respond as leaders of their organizations. They know that inside their corporate, store, plant, and factory walls flow the full crosscurrents of a polarized citizenry stoked up by poisonous rhetoric.

But they are unsure of how best to lead in these dangerous times. Do they just hope that employees will keep their thoughts and feelings to themselves while they are at work? They quickly recognize this head-in-the-sand approach will not be sustainable nor helpful but they hesitate to encourage the alternative of inviting expression from people across a wide political spectrum for understandable fear that this would only devolve into mirroring the rancor on the streets, cable news, and social media.

Read More

Playbook for Success

playbook-for-success-feature

This article originally posted on Korn Ferry Institute website on November 10, 2016.
Contributed by: Jed Hughes, Korn Ferry Vice Chairman, Global Sector Leader, Sports

For the average sports fan, it sounds like the dream job: ascending to be the new general manager or new coach of a professional franchise or to be in a similar top role at a collegiate powerhouse. But for elite sports leaders, the first year on the job is filled with significant risks, as well as potential, new Korn Ferry Hay Group research finds.

The firm’s study looks at top sports leaders and finds, for example, that in the last five years, National Hockey League head coaches averaged 2.4 years in their jobs. That’s slightly better than the 2.3 years for national Basketball Association coaches but less than the 3.6 years for National Football League head coaches and 3.8 years for Major League Baseball managers.

Read More

Strategic Self-Awareness

By Carol Patton
This article originally appeared on Human Resource Executive Online on November 10, 2016.

Back in July 2015, healthcare giant Baxter International spun off its biopharmaceutical division into a new company called Baxalta, which was based in Bannockburn, Ill. Roughly one year later, Shire, a global biotechnology company headquartered in Dublin, Ireland, purchased Baxalta.

The combined company makes products for people with rare diseases and conditions. But with approximately 22,000 employees in more than 100 countries, not all senior staff members were accustomed to leading in a more global, complex environment. To make matters worse, Baxalta and Shire supported very different cultures, purposes and organizational dynamics, says Anne-Marie Law, chief human resource officer for Chicago-based Hyatt Hotels Corp., who served as Baxalta’s CHRO for about 18 months until the $32-billion merger was completed.

In spinning out from a medical-device company and going to a biotech company, says Law, “we needed people who could be re-engineered to be the kind of leaders needed in biotech — much more entrepreneurial and innovative.”

Read More

Generational Shift: Succession of Older CEOs Slows

This article was written by Scott A. Scanlon, Editor-in-Chief, Hunt Scanlon Media and originally posted on HuntScanlon.com on October 28, 2016. 

The rate of succession of older CEOs of large U.S. public companies slowed significantly this past year, bringing to a halt a generational shift in business leadership that had been observed since the financial crisis, according to a new report by The Conference Board.

The report, ‘CEO Succession Practices:  2016,’ annually documents and analyzes succession events of chief executives of S&P 500 companies.  In 2015, there were 56 cases of S&P companies that underwent a CEO turnover.

Prior iterations of the study have shown an acceleration of the succession rate of CEOs aged 64 or older following the Great Recession of 2008.  In the 2009 to 2014 period, in particular their average turnover rate was 25.5 percent, compared to 8.1 percent for younger CEOs.  However, in 2015, older CEOs departed at a rate of 15.1 percent, which is much more aligned with the average number for the 2001 to 2008 period.

Read More

 

Scary times, strong leadership?

This article was written by Andrés Tapia and Kevin Cashman, and posted on KornFerry.com. 

Andrés Tapia is a senior client partner and global solutions leader in Korn Ferry’s Workforce Performance, Inclusion and Diversity Practice.  Kevin Cashman is a senior client partner in the CEO and Executive Development practice.

It was another Monday morning at Zeenu, a startup in New York’s Chelsea neighborhood.  Tired workers returning from the weekend gulping coffee.  Talk of the Giants football team eking out a victory.  As normal as you get.

Except of course, it wasn’t a normal morning.  In the same neighborhood, a bomb stashed inside a dumpster had exploded over the weekend, injuring more than two dozen people and generating a stream of unsettling news accounts.  Did Zeenu have a plan of action to help worried employees?  Would its managers have any organized response?

Read More

Developing the Next Generation of Enterprise Leaders

Article by Douglas A. Ready and M. Ellen Peebles, via MIT Sloan Management Review, Fall 2015. 

Aspiring corporate leaders first learn to build and implement visions for their individual business units.  But as they advance in their careers, executives also must learn how to lead with an enterprise perspective.

Anat Gabriel is managing director and chairman of Unilever Israel, a relatively small operation that sells the usual array of Unilever products but also has two categories of its own, a breakfast cereal called Telma and a line of snack foods that are unavailable anywhere else.  She calls them “local jewels”; they account for about a third of the Israeli unit’s business.

Unilever, the world’s second-largest consumer goods company, operates in nearly 200 countries and owns brands including Dove soap and Lipton tea.  It expects Unilever Israel to promote the company’s global brands, but the local unit is still expected to make its numbers, which means that Gabriel must also invest in the local products such as Telma cereal.  Gabriel’s team doesn’t always understand the trade-offs she has to make – the decisions to support global brands inevitably take away from local initiatives.  “To be successful,” she said, “I must work with my team to align our agenda locally in Israel with the broader Unilever enterprise agenda.  I need to help my people see how the pieces of the puzzle fit together.”

Read More

Bill Gates, Warren Buffett, and Oprah Winfrey All Use the 5-Hour Rule

This article was written by Michael Simmons, co-founder of Empact, with Ian Chew and Shizuka Ebata; and posted on Inc.com. 

In the article “Malcolm Gladwell Got Us Wrong,” the researchers behind the 10,000-Hour Rule set the record straight: Different fields require different amounts of deliberate practice in order for someone to become world-class.

If 10,000 hours isn’t an absolute rule that applies across fields, what does it really take to become world class in the world of work?

Over the past year, I’ve explored the personal histories of many widely admired business leaders, including Elon Musk, Oprah Winfrey, Bill Gates, Warren Buffett, and Mark Zuckerberg, in order to understand how they apply the principles of deliberate practice.

What I’ve done does not qualify as an academic study, but it does reveal a surprising pattern.

Many of these leaders, despite being extremely busy, have set aside at least an hour a day (or five hours a week) over their entire career for activities that could be classified as deliberate practice or learning.

I call this phenomenon the five-hour rule.

Read More

Women In the C-Suite Lagging Male Counterparts

Contributed by Scott A. Scanlon, Editor-in-Chief, Hunt Scanlon Media.

Across the C-Suite, Less Than a Quarter of Top Leaders Are Women. A New Study Has Found That Across All of the C-Suite Positions, the Most Senior Post Is Held By the Smallest Percentage of Women. And Only Five Percent Serve As CEO. Let’s Dig Into the Latest Report From Korn Ferry.

The percentage of women in most C-suite positions is dramatically lower than their male counterparts, according to a new look at data of U.S. companies by Korn Ferry.

The analysis found that across the most prominent C-suite titles (chief executive officer, chief financial officer, chief information officer, chief marketing officer, and chief human resources officer) and several industries (consumer, energy, financial, life sciences, industrial and technology) an average of less than one quarter (24 percent) of the top leaders are women.

Click here to see the full article.

Purpose Point of View

Article by Janet Feldman, Managing Principal for Korn Ferry, for the Expert Contributors’ Blog at StrategyDriven.com.

No matter which way you turn, the focus on ‘purpose’ is everywhere. Whether it’s Mark Zuckerberg joining Bill Gates and Warren Buffet in a Giving Pledge, the six biggest global communications firms putting differences aside in a U.N. Common Ground Initiative pledging to eliminate poverty worldwide, to the rise of socially conscious companies embedding sustainability in all processes, purpose has broken the sound barrier among the business and popular media, forward-thinking magazines and business school curricula.

However, to mistakenly think purpose is something pursued only by socially conscious individuals and organizations or ‘in addition to our day job’ is to miss the point entirely. Purpose is that simple, yet powerful, human impulse to improve the lives of others or make a difference in the world. Purpose catalyzes behaviors from simple acts of service to a focus on professional excellence. It drives large efforts from spearheading a movement to bringing a game-changing product or technology to market. It animates us as people and fuels organizational innovation, value creation, and growth. Whether or not they understand the forces driving it, the smartest organizations are putting purpose at the top of their agendas—and those that ignore it, do so at their peril.

Click here to see the full article.