Challenges for new CEOs

A recent USA Today Snapshot^® referenced an interesting study. Asked to name the top challenges they face in their first 100 days on the job, 1,400 chief executive officers said:

• Increasing productivity - 30 percent
• Increasing profitability - 20 percent
• Personnel decisions - 13 percent
• Building rapport with new staff - 13 percent

Study results reaffirm Barr Corporate Success's DISC (Dominance-Influence-Steadiness-Compliance) and PIAV (Personal Interests, Attitudes, and Values) profiles for those who work in profit-oriented leadership positions. An interest in the bottom line is critical in roles requiring careful management of resources. A CEO's natural tendency is to focus first on numbers, a comfort zone and primary accountability, rather than "emotional intelligence" strategies.

However, Barr Corporate Success's 20+ years' experience in high-level management strongly suggests that neglect of rapport, teamwork, employee engagement, and motivation seriously impairs strategic plans to improve profitability and productivity. Even CEO's with stellar track records can fail spectacularly if they start off on the wrong footing with their senior leadership teams.

Becoming familiar with current financial conditions in a new post is a no-brainer, but CEO's are well-advised to also establish strong rapport with direct reports. Those who do so reap the benefits of a better grasp of the skills, engagement, and styles of the team who will implement strategies which improve the bottom line. The result is smarter personnel decisions, messages that cascade throughout the corporation, more effective implementation, and very real financial gains. Disregarding the expertise and input of those who best know current conditions has dire consequences in today's difficult business environment.

Yes, market conditions are tough. But now is the perfect time to secure market position, find new markets, and develop a leadership team able to navigate stormy waters. Understandably, business owners and senior management are hesitant to commit scarce capital to consultants. They're right to be cautious. Some consultants offer recycled information, and induce eye-rolling or clock-watching with touchy-feely, time-consuming seminars.

Unlike so many of us, as her associate, I (Jodi) can attest Krissi Barr never wastes time. There may never have been a more effective time manager, or one more able to provide 100 percent signal, 0 percent noise! Our clients have written countless letters to affirm the value Krissi has delivered and the results they've reaped. Barr Corporate Success's services are focused, efficient direct consultations with specific information and hard data which quickly identify wasted time, money, and human capital. Clients are often amazed at the stark difference between Barr Corporate Success's results and those of prior consultants. Executives and their teams are never left thinking that time with Krissi might have been better spent elsewhere.

Let's face it: Only companies with an agile, engaged, and effective senior leadership team will be able to withstand and adapt to these economic conditions. The expertise of Barr Corporate has saved struggling clients before, and improves the bottom line of current clients every day.

Krissi will gladly discuss strategies to overcome the challenges you're facing, and offer concrete strategies to seize opportunities. Call (513-470-8980) or e-mail her today.

"The Millenials are Coming" -- Managing Millennials

As if you didn't have enough management challenges, check out this story, from the November 11 broadcast of CBS news' "60 Minutes". Correspondent Morley Safer talks to researchers and analysts about the psychology and outlook of the so-called millenial generation. Be warned: It's a little scary.

"There are about 80 million of them, born between 1980 and 1995, and they're rapidly taking over from the baby boomers who are now pushing 60. They were raised by doting parents who told them they are special, played in little leagues with no winners or losers, or all winners. They are laden with trophies just for participating and they think your business-as-usual ethic is for the birds. [Don't boss them around, or speak to them too harshly...] And if you persist in the belief you can, take your job and shove it."

See? Maybe "scary" is a bit much, but definitely "daunting" and "formidable" when one considers the difference this generation may require in our approaches to management.

Features of this coming generation, according to the story, include:

• Most are hardworking (great!)
• They know and can operate the tools to get things done (also great!)
• They are impressively clever and resourceful (really great!)
• Some of them are absolutely incorrigible(uh-oh)
• "It's their way or the highway. The rest of us are old, redundant, should be retired." (What?!)

Researchers who have studied the millenial generation say a new style of management is required to get results from this cohort of workers.

• "Speak to them a little bit like a therapist on television might speak to a patient."
• "You can't be harsh."
• "You cannot tell them you're disappointed in them. "
• "You can't really ask them to live and breathe the company. Because they're living and breathing themselves and that keeps them very busy."
• "The era of the buttoned down exec happy to have a job is as dead as the three-Martini lunch." "These young people will tell you what time their yoga class is and the day's work will be organized around the fact that they have this commitment. So you actually envy them. How wonderful it is to be young and have your priorities so clear."
• "The flipside of it is how awful it is to be managing the extension, sort of, of the teenage babysitting pool."

Researcher Mary Crane said: "You now have a generation coming into the workplace that has grown up with the expectation that they will automatically win, and they'll always be rewarded, even for just showing up," Crane says.

Safer responded: "To what extent are you having to tell the boomers, the bosses, the 50- to 60-year-olds, 'The people who got to change are you guys, not them?'" Yeah! Why do current managers have to change? What we're doing is working.

Unfortunately, it may not continue to work going into the future. Previous generations are accustomed to doing what it takes to produce results, and if we're dealing with an entire new generation of workers that require a different approach, we're going to have to make some adjustments, apparently.

Crane: "The boomers do need to hear the message, that they're gonna have to start focusing more on coaching rather than bossing. If this generation in particular, you just tell them, 'You got to do this. You got to do this. You got to do this.' They truly will walk. And every major law firm, every major company knows, this is the future."

You heard it... coaching rather than bossing. Participative management rather than dictating. Providing guidance and resources, focusing on results rather than methods... basically all the things that my boss, Krissi Barr, has been teaching her clients for years.

Krissi Barr is an expert in coaching. I know, because I work for her. You only have to talk to her, or to me, once to know how motivating and encouraging she is, while not coddling or wasting time with things that make no contribution to the bottom line. As her associate, I (Jodi) wholeheartedly affirm that if anyone can teach other managers how to deal with the millennial generation, it's Krissi Barr.

That's my firsthand recommendation, but you don't have my word for it.

She's trained in and certified to teach Paul Hersey's Situational Leadership program, as well as Coach 4 Success, Will to Win, and many incredibly practical and inspirational techniques. (See bio).

It's not just her curriculum vitae that impresses. Doing the various administrative and professional tasks I do as her "jill-of-all-trades", I've seen her at work, seen what she accompishes with people. After my interview with her, I researched the management and leadership training business as a whole. I came to the conclusion that many people out there are offering, in essence, modern-day "snake oil," and asked her about it. She confirmed, "There are lots of consultants out there. What matters is pull-through."

Over the next few months of assembling client data into spreadsheets, being cc'd on e-mails to her clients, seeing clients recommendation letters and their e-mails of gratitude, I realized that she is the "real deal."

Serious stuff, how she works with clients. The programs are just the start for her.

Krissi didn't just take her training and use it to sell programs -- she trains, but also does follow-up, coaching, and ongoing accountability measurement. She has enough passion for and commitment to the work that she does to follow her clients, ensuring that their new knowledge is ingrained such that it becomes behavior, and even habit, to the benefit of all who have worked with her.

The coming generation of "millennials" will be a challenge to those who are accustomed to the previous generations of direct reports. If you thought Gen X'ers were difficult... well, we're all in for a bumpy ride. If you are already experiencing rough terrain with your teams, whatever their generation, I encourage you to call Krissi (513.470.8980) or e-mail her (krissi@barrcorporatesuccess.com).

Good reads: "Leader Machines", Fortune, Oct. 2007

In this article, Geoff Colvin demonstrates the power of a leadership-building culture. Instructive excerpts:

"Your competition can copy every advantage you've got -- except one. That's why the world's best companies are realizing that no matter what business they're in, their real business is building leaders. Here's how the champs are doing it."

Fortune teamed with Hewitt HR outsourcing/consulting, and RBL Group to study how companies develop leaders, and which are doing it best. The top "academy companies" --those whose employees move on to top leadership in many best-performing large corporations -- include GE and Procter & Gamble "Says Hewitt's (Robert) Gandossy: 'companies that provide people with opportunities to learn and grow become talent magnets, drawing scarce talent in droves.' By continually attracting the most promising graduates and then developing them, these firms become higher-performing organizations, enhancing their ability to attract the best -- a self-reinforcing cycle that makes the company more dominant every year." Traits shared by the top companies for leadership development:

Invest time and Money:

"At GE, Immelt reviews the top 600. Bill Hawkins of Medtronic (No. 12) spends 50 percent of his time on people issues, and many of the other CEOs reported similar percentages -- making it the largest commitment of time they have." The University of Michigan's Noel Tichy, an acknowledged authority, says checking a CEO's commitment is as simple as looking at the CEO's calendar. "Yet the CEO's time is only the beginning. As those who report directly to the boss see what the focus is, they also become devoted to developing talent, as do their subordinates. It's called the cascading effect.(...) Virtually all of them evaluate executives partly on how well they're developing people."

Identify Promising Leaders Early

GE starts on day one, and many discreetly observe interns to see how they get others to work for and with them.

Choose Assignments Strategically

Eli Lilly (No. 13) president/COO John Lechleiter offers this model: Approximately two-thirds of leadership development is from experience, one-third from mentoring and coaching, and a bit from classroom training.

Develop Leaders Within Their Current Jobs

Divisions struggle when bosses move on after 18-24 months. Nokia (No. 3) and Eli Lilly (No. 13) report great success with current programs that use short-term work assignments and additional assignments outside employees' fields of expertise to develop managers within their current assignments.

Be Passionate About Feedback and Support

Companies on the Fortune list "combine frequent, honest assessment with plent of mentoring and support. So when people are told what skills they need to improve, they're also offered programs or coaching for doing it."

Develop Teams, Not Just Individuals

Immelt says the GE he grew up in did primarily individual training, and that it led to problems. "He'd attend a three week program at Crotonville, but back at work 'I could use only 60 percent what I'd learned because I needed others -- my boss, my IT guy -- to help with the rest.' And maybe they weren't onboard."

Exert Leadership Through Inspiration

How well does it work to make people do what you say by firing and promoting? A.G. Lafley of P&G says, "The command and control model of leadership just won't work 99 percent of the time." Which is why P&G runs a development program called "Inspirational Leadership." American Express similary has "Leadership Inspiring Employee Engagement" and it is mandatory for every VP and above.

Encourage Leaders to be Active in Their Communities

Leaders, the company, and the community can all impact on another in positive ways, benefitting all.

Make Leadership Development Part of the Culture

"Developing leaders isn't a program; it's a way of living. For example, honest feedback has to be culturally okay. At many companies it isn't. Devoting significant time to mentoring has to be accepted. Working for nonprofits has to be encouraged, not just tolerated. Such cultural norms can't be dictated; they have to be in the air." ------ "Good as these companies are, not one of them is satisfied with the way it develops leaders. They all have plans for improvement, mostly by involving more people, working more with teams, and refining their views of what skills tomorrow's leaders will need. None are scaling back." (emphasis added)

Does your company have a culture of leadership development?

Krissi Barr (an alumna of P&G, #2 "Top Company for Leaders") can help. Call her at 513-470-8980 or e-mail krissi@barrcorporatesuccess.com. Or for more information, please visit our website.

You May Need a Consultant If...

Unless you've been on a deserted island for the past 10 or so years, you're likely familiar with Jeff Foxworthy's "... you might be a redneck" stand-up routine. Granted: The one sure way to make humor unfunny is to overanalyze it, so I'll keep my academic musing to a minimum! The key to Foxworthy's successful and universal humor is we have all known, seen, or been what he describes. You may not identify yourself as a redneck, but at some time or another, you may have done some of what he describes, to some degree, and those are the jokes that get the biggest laughs out of us.

Now, switch gears with me, and consider the performance of your company, your team, yourself.

We all face business challenges, both personally and as an organization. Sometimes a business is just not growing as fast as it could and should, is in a rut, or worse -- is shrinking. Sometimes the most difficult part of running a company, division or team is leading the it in the right direction and ultimately putting it on the right path to grow and prosper.

"But we don't need any help, certainly not a consultant!"

That would mean something is badly wrong, right? Not necessarily. Your car runs fine, but might not if you skip regular maintenance and tune-ups. You change the weight of oil in your car for cold/hot weather. Put on snow tires for different road conditions. It's no weakness of your car that you consult a mechanic. Using a consultant to take your business to the next level is no different. Want a Maserati, or a beater?

Go in for a tune-up!

Listen to the watercooler conversation. Look at the numbers. Consider the morale of your teams. Listen to your own thoughts.

If any of the following rings true… you need a consultant!

(May we suggest Barr Corporate Success?)

• “We could seriously use a new $1 million.”
• “Our organization feels stuck.”
• “Revenues and growth are flat or falling.”
• “Sales are sluggish and costs are rising.”
• “Our competitors are gaining market share.”
• “Oh, it’s a bad economy, everyone’s off.”
• “The business just isn’t profitable.”
• “Customer demands are changing constantly – how do we know what they want?”
• “How can we find new customers and markets?”
• “Vendors demand more and more from us all the time.”
• “I'm not sure the right people are in the right positions.”
• “People are burned out, unmotivated, and turnover's on the rise.”
• “No one around here makes decisions.”
• “Does our compensation plan reward good performance?”
• “There goes the rumor mill again. These office politics are wasting time.”
• “Most of my team is -- at best -- 'C' players.”
• “How do we get more out of our partner relationships?”
• “We'd love to be more efficient, but how?”
• “What advantages could we get out of new technology?”
• “Sales are giving away the store!”
• “Our product quality and service is weak.”
• “Product development is taking longer than expected. The market’s not waiting.”
• “We’re considering a merger or an acquisition.”
• “New industry regulations are seriously hindering growth.”
• “Industry rules are changing. Our operations aren't aligned to those changes.”
• “No one seems focused on the bottom line.”
• “We spend more time putting our fires than planning for the future.”
• “Well, this is the way we’ve always done it.”
• “We need some solid strategic alliances.”
• “Succession plan? There is no succession plan.”
• “Strategic vision just isn't there. We need some new ideas to grow the business.”
• “We need more innovative leadership.”
• “We need a business, sales and marketing plan with teeth.”
• “How do I develop leaders from within my company?”
• “How can I get my teammates to be as passionate about the business as I am?”

Sound familiar? We can help.

Call 513-470-8980 or e-mail krissi@barrcorporatesuccess.com

Strengths Can Become Weaknesses

Investor and financier extraodinaire Warren Buffet has said that most people could be as successful as he if they got out of their own way. While leaders have coping styles which enable them to get beyond daily crises, some of those coping styles can trip them up in the long run. Are you defeating yourself with one of the following tactics?

• Avoiding confrontation. Sometimes the stronger you are, the more you avoid confrontation. "I don't want to upset people," you say, but it may be that you fear losing control.
• Hiring great advisers, but not listening. It's difficult to change habits, which have been reinforced over time, but ignoring your most insightful colleagues isn't the answer.
• Not acknowledging when you're wrong. It's somewhat horrifying, initially to think, "If I'm wrong about this, I may be wrong about other things." It takes great strength to admit being wrong, but builds a strong team mentality and eliminates the protectionism that perpetuates mistakes.
• Not dealing with reality. Same situation -- if you can't handle one reality, others are sneaking up on you. Confront and deal with reality.
• Waiting too long to cut your losses. Your stick-to-it-iveness has served you well in many situations, but throwing good time, money and effort after bad won't always bring about turnaround.
• Dwelling on strategies without following through. While it's lovely to behold your strategy from afar, execution is key. Strategy is a process -- not ironclad marching orders -- that helps you move forward purposefully. Yes, you will find flaws, but can adapt and move on to success.
• Relying on analysis over instinct. Logic and reality don't always synch. The market moves fast, and over-reliance on analysis sometimes takes more time than you have.
• Trusting instinct over analysis. Yes, this contradicts the previous pitfall -- but either extreme can be disastrous. Let's face it: Desires and wishful thinking can distort your "gut feeling." Ground yourself in reality, without getting buried in analysis.
• Playing favorites. Rewarding "brown-nosers" might gratify your ego, and temporarily make your life easier, but will poison team dynamics and cost you talent and turnover.
• Mocking what you don't understand. Nobody knows everything, and taking the position of interested learner increases your knowledge and understanding. Dismissing new info as unimportant can mean missing huge opportunities.

Click the link below to return to Barr Corporate Success!

http://www.barrcorporatesuccess.com

Purpose

Because Barr Corporate Success believes in achieving results through strategic thinking and disciplined action, I'd like to first describe this blog's purpose. To succeed in any endeavor, it's useful to begin with some end in mind. Many blogs are spontaneous expressions of what's happening in people's lives, both inner or outer, but this blog is grounded not in personal need for expression, but our desire to enable others to reach heights they had not thought were possible. Your time is valuable, and we respect it. Here, we seek to share useful, practical information for increased execution, understanding, achievement, communication, teamwork, job satisfaction, efficiency, retention... all those factors which lead to both amazing performance and a more satisfying and profitable work life for all. In a word, the purpose of this blog is leadership. In this space, we will be sharing events, activities, books, articles, links, and personal insights from and by business leaders, as well as thought-provoking materials from a variety of sources which can shift your thinking, give new perspective, and spark creative solutions to any challenge. Some entries may be short and factual, some longer and more esoteric, but all will focus on informing, inspiring, and leading. We hope you both enjoy and learn from each and every post. Let's get to work! Return to Barr Corporate Success -- http://www.barrcorporatesuccess.com