Schmooze - Build Trust & Transparency for productive negotiation

1/26/14

Schmooze to Build Trust and Transparency for Negotiation
*********************************************************
Treat people with dignity and respect at every level of the organization.
Turn foes into "friends with different opinions".
*********************************************************

Schmoozing is a massive part of a leader's job.
It is about building thriving relationships.
Build relationships before troubles arise and crises erupt.
It is about removing suspicion and wariness and replacing with transparency and trust.

Schmooze early and often to smooth the way.
Have ongoing dialog with friend & foe alike at every opportunity.
Create candid dialog about values and goals.

Even when it is unpleasant or wildly inefficient.
Walk around rather than over-relying on emails.
Have coffee.
Sit.
Listen.
Get real - smile in person; let them hear your voice and mind.
Let people get real with you.
Show who you are, what you are about.
Expose your hopes, dreams and values.
Ask people to share about themselves.
Schmooze with your known adversaries eg Union, group of employees who hate the new strategy, resistors, perennial naysayers
Identify real differences.
Use transparency and trust to negotiate and narrow those differences.

Reference
Welch & Welch (2013)
http://www.linkedin.com/today/post/article/20131002135753-86541065-schmooze-or-lose-how-the-lost-art-of-negotiation-led-to-a-shutdown?trk=mp-reader-card

Leadership Checklist for a Great New Year

1/26/14

Top10 Leadership Resolutions for 2014


(1) Build Mutual Trust & Respect
*********************************
Biggest role of a leader is to build trust, respect, support from the team.
Employees must deliver results.
Leaders must support them and stand up for them.

(2) Over-Communicate
*********************
Communicate your message, values, what's right, what's wrong.
Transparency - get everyone on the same page.

(3) Followup Relentlessly
**************************
Don't stop with setting the direction
Followup to see that things are moving in right direction

(4) Create a rallying cry
**************************
Define the enemy - A competitor who is coming after your firm.
Galvanize the team - ensure every product is better than competition

(5) Personnel actions speak louder than words
*********************************************
When someone is picked for a new job, you are defining what is important.
New initiatives - match stars with the projects to build credibility and trust.

(6) Embrace the Generosity Gene
*******************************
Love to give raises to people - Give until it hurts.
Be thrilled to see employees grow and be promoted.
Be turned on by the success of employees.
Bask only in the reflected glory of the team.

(7) Fight bureaucracy
**********************
Get rid of clutter.
Drive with Speed - speed is one of the best competitive advantages.

(8) Find a better way of doing things every single day
******************************************************
Somebody out there is always doing something better than you.
Ask, "How can we do it better?". "Where can we find someone doing it better?".
Make your group stand out above the rest

(9) Own Hiring Mistakes
***********************
Hiring is hard work.
If fit didn't work, recognize it, own the error and get on with it.
Deal with hiring mistakes fast and with compassion.
Stakeholders - hired person, your team, superiors - will respect you more.

(10) Dig into Crises
*********************
Anticipate crises to erupt
Someone will do something wrong; you will have to face a violation in your organization.
When you first hear about it, you will only get the tip of the iceberg
    as the boss, you are not going to get the whole story
    people may brush things under the table
Go after the big piece of the iceberge underneath the surface
    your team will come to you and feed you slowly piece by piece
Your job is to dig deep, early and fast, to get it all to the surface.
    Be candid - there are no secrets
    Get the right people involved immediately.

References
Welch & Welch (2104)
http://www.linkedin.com/today/post/article/20140107141641-86541065-10-resolutions-to-make-it-a-very-good-year?trk=mp-reader-card

Leaders must look like a goose that lays the golden egg

1/26/14

Find, Hire, Manage and Grow Superior Employees

End Goal
*********************************************
To be the Goose, not just the egg
Leaders must look like a goose that laid the golden egg
*********************************************

Leader's are judged by a Scorecard
***********************************
Leaders judged not as individual contributors ie. by personal output.
Judged by results which depend on how well they hire, coach, motivate people, individually and collectively.

What you need to do as a leader
*******************************
Find and Hire people smarter and more talented than you.
Create an environment where they flourish.
Release their energy and build a great team.
Evaluate them with self confidence- by focusing on areas in which they can improve; coaching
Celebrate their growth - fear nothing in managing superior employees

References
Welch & Welch (2014)
http://www.linkedin.com/today/post/article/20140123121820-86541065-are-you-the-smartest-person-in-the-room-let-s-hope-not?trk=mp-reader-card

Rigorous Annual HR Backup Plan - Let stars go, keep house in order, allow new stars to be born

1/26/14

What do do when a Star Performer gets another offer and wants to leave
**********************************************************

Team with the best players wins.
Caring and feeding of top performers is the top driver of company's success.

To keep stars happy, give them
(i) Outsize compensation
(ii) Effusive recognition
(iii) Enjoyable, challenging work
(iv) Feeling that they are not micro-managed


Yet, expect some stars to leave for several reasons:
(i) Outgrown opportunities at the company
Star wants to reach for horizons beyond what you can offer over long haul
(ii) More Money
(iii) More job responsibility
(iv) Bigger Title

Situation:
Star asks to see you, closes office door and says
"I've gotten an offer I think I just can't refuse"


Knee-jerk reaction is to match the offer with a fancy title and extra layer
Deadly side effect: others feel insulted & confused; star feels even more indispensable

ProActive & Rigorous Approach - Annual HR Backup Planning
*************************************************************
Prepare to fill the position of any key person who could depart.
Review stars frequently, coach consistently and plan backups.
Ask, "who replaces George or Carol if they leave ?"
Be ready to replace a departing star within 8 hours.
Send an important message: "No star is bigger than the organization"
Keep your house in order and send your star off with good wishes.
Create an environment where another star will soon be born.
*****************************************************************

Reference
Welch & Welch (2013)
http://www.linkedin.com/today/post/article/20131024153815-86541065-star-wars-when-to-let-a-top-performer-walk?trk=mp-reader-card

Nine ways to motivate people to over-deliver at work

1/24/14

Nine ways to Motivate people to Over Deliver
**************************************

The ideal situation is when employees invest their heart and soul into the job and over-deliver.
To achieve this monetary and non-monetary factors need to be addressed in a competitive market environment.

(1) Money
**********
What is the Amount ?
What is it relative to Peers and other rainmakers ?

(2) Non-Monetary Factors
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(2.1)Interesting work, Enjoyable coworkers
******************************************
These are the basics, the no-brainers, the must haves:
Interesting work - people should feel a sense of fun
Enjoyable coworkers - competitive, upbeat, team players

(2.2) Recognition through Awards & Celebration
**********************************************
- Awards (raise the bar for everyone - money & plaques)
- Celebration (mark milestones, improve productivity, fun)
    surprise keg, tickets to a ball game, Disney world with families
    whatever turns their crank
    not just a forced march to an eatery

(2.3) Absolute clarity of what the great Mission is
***************************************************
Team must understand the exciting shared goal and buy into where it is going
What is the collective sense of purpose ?
What is the bold, inspirational creed ?
"There's the hill, let's take it together"

(2.4) Right Push Pull Balance
******************************
Balance Achievement with Challenge
People should feel like at the top of the mountain even as they are still climbing it
Pay individual attention to the challenge of each job

(3) Other Non Monetary Factors (based on US employee survey)
*********************************           
(3.1) Stability    - How stable is the company to weather market changes ?       
(3.2) Respect - Employee must feel that he or she matters to the organization; what he does in his 8 hours means something; Open appreciation
(3.3) Health Care coverage
(3.4) Work Life Balance

These are really insightful techniques from Jack & Suzy Welch. It is clear that a leader who gets this right will create a fantastic work environment that has an intrinsic competitive advantage.

Dr DP

Reference
Welch & Welch (2013)
http://www.linkedin.com/today/post/article/20131104192204-86541065-four-sure-fire-ways-to-motivate-your-people-and-dinner-with-you-isn-t-one-of-them?trk=mp-reader-card

Monitor Boardroom Behaviors for Effectiveness

1/19/14

This LinkedIn article by Jack & Suzy Welch highlights desired board room behaviors, common problems from dysfunctional board members and what to do to keep the board effective.

Boardroom Behaviors
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(I) Desired Board Member behaviors
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Offers wisdom, sound counsel and judgment and does not interfere in management's day-to-day running of the business.
Has skin in the game and really interested in the company.
Ensures employee behaviors match corporate values.
Challenge and probe leadership.
Courage when in crosshairs.
Transparent - no hidden agenda.
Engages every director in the board.
Focuses on big picture issues such as strategy and succession.
Meets with high-potential talent, discuss industry dynamics.


(II) 5 Types of Directors in the BoD Who Don't Deliver
******************************************************

Boards sometimes tolerate troublesome performance from one or two of their own.
Dysfunctional, ineffective peers exist - it is time consuming or impolitic to eradicate them.

(Type1) THE DO_NOTHING
***********************
Behaviors: Seat warmer
too busy with their own companies, other directorships or personal lives to care.
Don't have enough skin in the game or real interest.
Tends to lie low for job security ($25K- $100K, prestige).
They rarely challenge or probe.
They do not venture into the field to make sure boardroom values and strategy matches what employees feel.

Rating: Awful

(Type 2) THE WHITE FLAG
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Behaviors: Coward
Fears being personally tainted by any kind of controversy such as class action or activist protest.
Sells our on principle and gravitates towards a settlement even before discovery of facts.
Undermines a culture of trust between management and board - an environment in which risks can and will be taken.

Rating: Dangerous

(Type 3) THE CABALIST
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Behavior: Palace Intrigue; undermines board's relationship with management
Executives can't tell if the director is speaking for himself, the board or the cabal.
Sits quietly in meetings, goes along with the prevailing side, takes up a cause behind scenes, builds contituencies to achieve another, his own agenda.
Board's Executive Committee could be its own cabal.
Controlling, secretive, board-within-board that turns other directors into second class citizens.
Decommissions the majority of the board's brains.

Rating: Political opportunist

(Type4) THE MEDDLER
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Behavior: Butts into management and gets all mucked up in operational details

Rating: Offensive, spanner in the works

(Type 5) THE PONTIFICATOR
*************************
Behavior: Self-important, likes to hear his own voice,
Opines on matters of state, world events, social trends, company history, his own area of expertise

Rating: Distracts from business and enervates colleagues

(III) Wasteful Behavior of Boards
**********************************
Do Nothings: Let them hang on till retirement
White Flags: let them handle crisis
Cabalists: isolate or work around them
Meddlers: ignore
Pontificators: ignore

(IV) What Boards should do instead
***********************************
Vet potential members carefully before nominating them.
Deal with troublesome cases right in front - remove dysfunctional members.
Do what it takes to keep the board on its best behavior.



Dr DP

Reference
Welch & Welch (2013)
http://www.linkedin.com/today/post/article/20130408133309-86541065-5-types-of-directors-who-don-t-deliver?trk=mp-reader-card

Soar past the six hurdles to great leadership

Beware the Six Deadly Sins of Leadership and steer clear of them, 1/19/14

This LinkedIn article by Jack & Suzy Welch showcases another example of what makes Jack Welch philosophy so unique. This is amazing stuff that I believe every individual, family, organization, state or country could benefit from.




Develop self confidence in people, listen to every voice, be the authentic you, differentiate for growth, ensure results come through right behaviors and celebrate every win.

1. Not giving self-confidence its due
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Don't do this
**************
Cower. Plod. Spread negativity with words and gestures.

Do this
********
Be bold. Try new things. Offer ideas. Exude Positive energy. Cooperate with colleagues.

It is the leader's first job to instill self-confidence in people.
To unleash creative power of individuals, remove doubt from within.
Make sure goals are challenging but achievable. Give effusive positive feedback.
Remind people what they do right.


2. Muzzling Voice
******************

Don't do this
*************
Blowhard with Over-talk.
Act like know-it-all.
Be deaf to new ideas

Do this
********
Be humble.
Listen to every voice.
Try new ideas - expand, debate and improve them.


3. Acting Phony
***************

Don't Do this
*************
Put on airs.
Pretend to be a persona you are not, while hiding the real self.
Put a wall between you and employees.
Be mysterious - motivate through fear.


Do this
********
Be authentic (without being immature or overly informal), real and human.
Show who you are in your soul - This is what makes people love you.
Communicate what kind of people you attract, what kind of performance you want frome everyone.
Visibly grapple with tough problems, sweat the details, laugh, care.
Engage people, make them feel & respond.
Connect. Inspire. Lead.


4. Lacking the guts to Differentiate
************************************

Reality is not all investment opportunities are created equal.
Reality is everyone does not perform the same tasks at the same level.
Face this reality. Do not sprinkle resources everywhere.
Differentiate! Weakness just doesn't cut it.

Don't do this
*************
Be a weak manager - unwilling to deliver candid, rigorous performance reviews.
Give every employee a bland, mushy, "nice job".
Give star performers a little more than laggards.

Do this
*******
Give talented people a chance to grow, succeed and thrive.
Go after promising growth opportunities with outsized infusions of cash and people.
Resource allocation process will offend some eg. manager of a weak business proposal, sponsor of dubious investment.
Get over it.

5. Fixation on Results at the expense of Values
************************************************

Leaders deliver results - not just oratory and inspiration.
But the key is to deliver the right way, according to values.

Don't do this
**************
Care about numbers, without caring about how the numbers came to be.

Do this
*******
Ask for the right behaviors - live and breathe values.
Preserve a culture of integrity.
Take care of people properly.
Corporate policies - ensure they are obeyed in letter and spirit.
Let go of top performers if they are brutal to colleagues.
Do not promote a star who does not share his best ideas with the team.

6. Skipping the fun part
********************
The fun part is also a leader's job.

Don't do this
***********
Letting go of a great moment to celebrate.

Do this
*******
Recognize Achievements. Grab as many as you can. Make a big deal out of them.
Celebrate a win. Throw a party. Make people happy and feel like winners.
Create an atmosphere of recognition and positive energy.
Get creative: Give tickets to Disney world - for employees and their families; Give each team member tickets to a show or a movie; Hand out to each member a new iPod.


Dr DP

Reference
http://www.linkedin.com/today/post/article/20130327154206-86541065-the-six-deadly-sins-of-leadership?trk=mp-reader-card

Be Authentic - to successfully lead in a global marketplace

1/19/14

LinkedIn articles by Jack & Suzy Welch give unique insights to continue sharpening the business leadership skills every day.

What it takes to succeed in a global marketplace, March 12, 2013
IIM, 4E&P, ACSR, GG

(1) Acquire, Develop and Refine a wide range of Basic Skills
***********************************************
IIM
Intelligence - Be smart, curious
Integrity
Maturity - Self confidence & Humility simultaneously.


4E, P
Energy - heaps of positive Energy.
Energize - be highly collaborative.
Edge - guts to make yes/no decisions.
Execute with endurance- get the job done.
Passion 

(2) ACSR
*********

Be Authentic - Be the Real you
**************************
This is already inside you. Don't get in its way.
Be real. As in not phony. As in grappling, sweating, laughing, and caring. As in authentic.
Do not be too remote. Motivate people and Move them.
Authenticity is the foundation - the center
Do not become a generic type - Do not lose your Individuality & Originality & Humanity.
Show human emotions.Show who you are in your soul.
Be Accessible - connect, inspire, lead.

Business Acumen to see around Corners
*********************************
anticipate the radically unexpected; develop a sixth sense for market changes; a feel for what competitors are thinking, what products or service customers will eventually want.

Surround yourself with smarter people
*******************************
Attract the right kind of people and bring out the performance you want from everyone.
Work with diverse teams. Ignite them as a manager to excel together.

Heavy duty Resilience
*******************
when playing hard, own the failures, learn from them, regroup, start again with renewed speed, vigor, conviction.

(3) Generosity Gene
*****************
Help people grow.

Reference
Welch & Welch (2013)
http://www.linkedin.com/today/post/article/20130312190950-86541065-what-it-really-takes-to-succeed?trk=mp-reader-card