What Disappointment Says about You

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sherrie-suski-disappointmentWhile I know some of you will disagree, your feelings of disappointment in another person generally have nothing to do with the other person and everything to do with you.  Saying “YOU disappointed ME” is not only a morale-killer, but it backfires and reveals more about you than anyone else. Whether in a personal or professional setting these words speak to how you handle life when things invariably don’t go the way you had hoped.

Avoid accountability

First, and actually the most important — as the manager, you own the work of people who report to you. Their work is your achievement or lack thereof. If they have not delivered a quality product, it is your responsibility to help them figure out why. It is not your job to point fingers, deflect blame, and pronounce that the failure was somehow an inherent part of their being.

Show disrespect

You do not see your employees as colleagues working together toward a shared goal, and you are not showing appreciation for their effort. Your words reveal an out of place parent-child dynamic, in which the focus has become your approval rather than the work itself.

Ignore learning

These words have such a sense of finality that they would bring anyone to a crushing halt. You essentially show a lack of faith that the other person can change and grow from the experience. 

You also make them question their own competence in the job.

Condemn quickly

You think that you are maintaining high standards, but you show that you are a harsh judge of people who are simply trying their best. Disappointment should be a last resort and should be reserved only for people who do not, repeatedly, give their full effort.

Display insecurity

You think you are calling out the other person’s shortcomings, but if you dig deep, you will find you are mainly disappointed in your own effort. 

Your expectation did not match up with the reality of the situation, and in frustration, you blamed someone else.

Reserve the word “Disappointed” for situations where it is no one’s fault.  “I am disappointed that the Company picnic got rained out” or “I am disappointed that the flight got delayed and we missed the presentation” In these situations, everyone is empathic and agrees.  It puts into words what many people are feeling and can unite a team.

Executive Coaching

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Does Executive Coaching deliver on the promised results? The answer to that question lies in setting the appropriate expectations at both the organizational and the individual level.  The best coaches in the world cannot affect change with an unwilling participant and/or in an unsupportive environment. But what about a willing participant in a supportive environment?  What is needed in the process to not only affect immediate change, but sustain long lasting change, the kind that can make or breaks careers?

Most executive coaches are, in fact, behavioral coaches. If an executive is displaying behaviors that are in conflict with the organizational values or are simply not in their own best interests as a leader, then a coach versed in behavioral theory may well be an effective solution. Coaching works best with high potential people who are willing to make a concerted effort to change. This effort requires hard and sustained work on the leader’s part.  Most executive coaches will not take assignments that are less than 6 months and many run for up to 18 months with longer check in times.  That’s because change takes awhile before it becomes a habit that is repeatable without having to think about it. The leader has to truly want to change.  There is no magic bullet an executive coach brings that will allow the leader to succeed without putting in the effort.

The organizational environment has to be supportive as well. Organizations are made up of people, all with their own agendas, some noble and others not so much.  It sounds simple enough, but everyone involved in the coaching exercise has to want to person being coached to succeed.  If a senior member of the management team secretly hopes the coach returns after the initial assessment to say that the leader is not coachable, unwilling to participate or that it is some innate character flaw that cannot be addressed through behavioral change, then the likelihood of success is low.  For this reason, it is important for the coach to take the time needed to ask the hard questions and to continue to probe until he/she is satisfied that the coaching exercise is being pursued for the right reasons.

The Benefits of Executive Coaching

Enhanced Productivity

An effective coach can assist the leader in prioritizing multiple initiatives ensuring that the focus remains on those most critical to driving the business forward.  The coach can also serve as another person to hold the leader accountable for deliverables and can push back when excuses are given.

Empowered Decision Making

Executive coaching focuses on what is important and can support the leader in making empowered decisions that they may hesitate to make otherwise. Executive coaching assists in gaining clarity and helps to develop plans to minimize distractions and focus on actions that align with the business mission, vision, value, and goals.

Effective Feedback and Communication

The key to evaluating performance and driving change is truthful feedback, and there can be no better way for you to get quality feedback than by using a coach. Effective communication and collaboration in a business setting are key areas that drive the business outcomes. Good coaches will solicit feedback from 4-6 constituents across the organization to gain a well rounded view of the leaders communication style.

Emotional Intelligence and Empathy

Emotional intelligence is the “the ability to recognize your emotions, understand what they’re telling you, and realize how your emotions affect people around you. It also involves your perception of others: when you understand how they feel, this allows you to manage relationships more effectively.” In other words, your own emotional self-awareness serves as an aid to understanding other people’s emotions; furthermore, you respond with empathy to their needs. You can see why emotional intelligence is so crucial to leadership positions. A coach can point out areas where they think leaders are misreading or ignoring situations calling out for EQ.  

In closing, executive coaching can be extremely useful in situations where the leader and the organization are willing, honest  and hopeful participants in the process.

Wellness Programs

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Bring up the word Wellness and what immediately jumps to mind is usually ways to improve the physical health of the workforce.  However, true wellness covers a broader spectrum and includes, not only physical, but emotional and financial wellness as well. Especially at this time of year when the urge to overspend is likely, a targeted approach towards financial wellness makes all the sense.  Similar to overeating and alter regretting it, over spending comes with its own regret and last log after the start of the new year and take much longer to rectify than losing a few pounds.  

The most effective Financial Wellness programs, however, are not a one size fits all.  A new study by Prudential Financial, Inc. examined differences in the financial needs and attitudes of various underserved groups in the workplace and the income inequality that affects each set. The 3,000 U.S. respondents included women, African Americans, Latino Americans, Asian Americans, caregivers, and members of the LGBTQ community.

Among key findings in the survey, African Americans across all income levels were more likely than the population at large to prioritize helping others financially, including caring for parents or other family members, paying their children’s college tuition, leaving an inheritance to their heirs, and giving to charity. Women in the survey earned an average annual income of $52,521, compared with $84,006 for men. Half of women said they were the primary breadwinner in their household. Almost 40% of caregivers don’t think they’ll ever be able to retire, compared to just 25% of non-caregivers, and caregivers were more likely to take out a loan or hardship withdrawal from their 401(k) plans.

In a statement, Lata Reddy, Prudential’s senior vice president, Diversity, Inclusion & Impact, said a person’s path to financial wellness is deeply personal. “While there are common experiences that tie us all together, there are also distinct factors that are unique to our individual journeys that impact the ultimate destination,” she said. “These factors need to be clearly understood for true progress to be made.” Reddy recommended that employers listen to the people in each community to understand their needs.

This ties in nicely with the Workforce of One approach that I am so an advocate of.  Programs created for the “average” employee are serving no one, because no one is the “average” employee.  Just like the Target page that pops up with different recommendations depending on who is logging in, we need to design our HR programs to ensure that we are meeting the needs of individuals.

Diversity and Inclusion in the Workplace

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Diversity is not just the range of human differences, but acknowledging, understanding, accepting, and valuing differences among people including, but not limited to, race, ethnicity, gender, gender identity, sexual orientation, age, social class, physical ability or attributes, religious or ethical values system, national origin, and political beliefs.  Diversity and Inclusion programs are developed in the workplace to ensure that people of all types are included at all levels of the organization and can draw on each other’s strengths and experiences.

The world’s increasing globalization requires more interaction among people from diverse backgrounds. People no longer live and work in an insular environment; they are now part of a worldwide economy competing within a global framework. For this reason, organizations need to become more diversified to remain competitive. Maximizing and capitalizing on workplace diversity is an important issue for management.

Managers need to recognize the ways in which the workplace is changing and evolving. Managing diversity is a significant organizational challenge, so managerial skills must adapt to accommodate a multicultural work environment.

Effective managers are aware that certain skills are necessary for creating a successful, thriving, diverse workforce.

First, managers must understand discrimination and its consequences.

Before we can truly embrace a diverse workforce, managers must understand that discrimination hurts us all, not just the person who is of a different ethnicity, but those who have to witness it.  It creates a divide in the workplace and is counter to the desire to collaborate.

Second, managers must recognize their own cultural biases and prejudices.

Each individual is unique and does not represent or speak for a particular group. When creating a successful diverse workforce, an effective manager should focus on personal awareness. Both managers and employees need to be aware of their personal biases. Therefore, organizations need to develop, implement, and maintain ongoing training because a one-day session of training will not change people’s behaviors.

Finally, managers must be willing to change the organization if necessary.

Organizations need to learn how to manage diversity in the workplace to be successful in the future. When dealing with diversity, managers must promote a safe place for associates to communicate. Social gatherings and business meetings, where every member must listen and have the chance to speak, are good ways to create dialogues. Managers should implement policies such as mentoring programs to provide employees access to information and opportunities. Also, employees should never be denied necessary, constructive, critical feedback for learning about mistakes and successes, due to concerns about a person’s differences.

Managing diversity is about more than equal employment opportunity and affirmative action. Is it about embracing each of our unique differences.

Employee Satisfaction

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When employers consider employee surveys to discover ways to boost employee satisfaction and retain employees, they often think of incentive pay, additional benefits, and perquisites. When reviewing results of such surveys, employers may fear they won’t be able to respond to employee needs that surface. However, they may be missing existing satisfiers that are already in place but are not being well utilized. In some cases, giving attention to current programs and setting of expectations can turn stale programs into real opportunities for employee satisfaction.

Career growth and even professional relationships are often motivators of satisfaction and engagement. One of the reasons employees leave a company is career growth opportunity; a reason employees stay is the relationships made while employed. One survey showed 25 percent of departing employees revealed that they would have stayed in their position with the company if they had a more respectful and connected relationship with the direct manager.

Employees want to learn, be in mutually beneficial and respectful relationships, and experience healthy professional relationships. Management must connect with workers both professionally and personally, and, depending on the work atmosphere and nature of the company, create a fun work atmosphere and initiate conversations about things outside of work. Other things managers can do to build employee satisfaction are:

  • Permit employees to use and demonstrate their strengths. Everyone wants to be valued and make a difference. Know where to place each employee for the greatest results. Ask what an employee wants to do in the company and look for opportunities to create the experience.
  • Ensure employees understand personal and business goals and the work scope related to their position and how it ties into the big picture. Individuals on a team create winning solutions when everyone knows their role on the field and the game rules.
  • Enhance communication. Hear your employees. Ask what is and is not working and take action to explore where the company can and cannot implement idea changers. Have managers meet with employees on a regular basis and report on performance, engagement, and employee feedback.
  • Consider stay interviews to understand turnover and engagement.
  • Create a learning environment. Foster internal opportunities to learn from one another and expand upon existing skills. While this may slow some projects down, future projects led by a well-rounded work team will create greater quality, productivity, developmental growth, and shared knowledge.

In the very tight labor market we are in, it is critically important that we find more cost effective ways to keep our employee workforce engaged and energized.

Mergers and Acquisitions Terminology

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Whether it’s a first car, a first house or a first job, there is always a first.  The same holds true for mergers and acquisitions.  You will likely always remember your first M&A activity regardless of whether your company was the acquirer or the acquiree.  You might, however, remember it more fondly if you were a part of the acquirer as often job losses can occur if you were part of the aquiree company.  You will hear a number of terms tossed around that everyone in the room seems to understand.  Below are a few of the basics that are part of most M&A activities.

Acquisition of Assets– also known as an asset sale- A merger

or consolidation in which an acquirer purchases the selling firm’s assets.  The can purchase all of the assets or only a select few and are not required to accept the liabilities.

Acquisition of stock or a stock sale-A merger or consolidation in which an acquirer purchases the acquiree’s stock.  This means they purchase all of the assets and all of the liabilities

Letter of intent or Agreement in Principle–An outline of the understanding between the two companies, including the price and the major terms.

Deal Structure–The nature of the fee paid by the acquiring entity in a merger transaction. Typical deal structure may include stock, cash or other valuable.

Due Diligence–In the process of an acquisition, the acquiring firm needs to see the target firm’s internal books as well as to audit their systems, processes and salaries. The acquiring firm does an internal audit. Offers are made contingent upon the findings of the due diligence process.  Most due diligence processes go on for at least 90 days, but can last up to 6 months or more in complex situations

EBITDA–Earnings before interest, taxes, depreciation, and amortization.

Restructuring–This can be as simple as selling off an unprofitable or unwanted division or as complex as re-structuring the entire way the new entity does business and is branded.  This is especially important when there is vertical or horizontal integration required.

Synergy–When the two companies are properly integrated and functioning, an output is achieved that is greater than the output obtained when the parts function independently

Human Resources should always play and important role up front in any due diligence process, as well as in the process of the actual merger of the two entities.

HR Financial Due Diligence– assessing HR financial risks, liabilities, and plan structures of compensation, benefits, and pension plans, workforce dynamics.

Human Capital Due Diligence assessing Human Capital aspects including culture, organizational structure, performance management, and workforce development approaches

Time spent up front will ensure that there are less unpleasant or unexpected surprises as the M&A activity draws to a close.

Stereotypical Startup Culture Can Be Detrimental – Part 1

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startup culture

This is the era of the startup. Between the simultaneous unemployment crisis America has been experiencing in for the past few years, and the technological boom that is seemingly unstoppable, startups (primarily in the tech sector) have been popping up left and right. With this influx of startups came an entirely new culture: one of relaxed schedules, no dress codes, huge personal freedoms, and a never ending supply of snacks. The stereotypical startup is full of young, charismatic go-getters who thrive in a “fun” and “casual” workplace.

While this new culture and mindset have been hugely beneficial for some companies (see: Google and Facebook), it may not be the right move for all startups. There are a few ways that “startup culture” can actually do more harm than good for certain startup businesses.

 

Too Much Money is Being Spent

This is actually one of the biggest problems that many startups are facing. Everyone wants to emulate the Google culture, with the free food,  the games, and the chic & fun office space. But, the reality is that most startups cannot afford those overhead costs. Many companies will use a lot of the money from their investors to foster this fun space. While this will absolutely make a great impression on both employees and clients alike, it’s important to make sure that your company is saving money and focusing funds on creating a viable product/service.

 

The Lines Between Boss & Subordinate May Be Blurred

The beautiful part of startup culture is that it’s generally an environment of openness and personal connections. For a lot of companies, “culture fit” is important and people are hired based on how well they will get along with the existing employees. This creates a comfortable place of work and creativity, which is fantastic for productivity.

However, this wholly democratic environment may may lead to issues when hard decisions or conversations need to take place. If the bosses aren’t seen as leaders, and are instead seen as friends & peers, it makes it difficult to reign in a rowdy team, or to provide disciplinary action when an employee is out of line.

 

Be sure to check out the blog next month to learn more about the potential downfalls of the stereotypical startup culture.