You are Gold: the cost of paying attention

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You are Gold: the cost of paying attention

In the world of advertising sponsored media (starting with the TV and extending now to games and apps on our devices), the attention we give is what is being sold to the brands sponsoring the content.  Our attention is for sales.  We don’t use the apps.  They are using us.  We might be thinking we are mining for gold in Minecraft, but in fact, we are the gold.  Our attention being traded for revenue.

Mara Zepeda and Samuel Hulick recently calculated the value of our attention on the Facebook platform using their current ad rates.  They estimated that our attention on the platform is being sold to advertisers for something like 12-cents an hour.  Apparently, that is what our attention is worth.  And frankly, it is worth even less, because we are not the one earning.

We should pay attention to what we pay attention to because they aren’t paying you for attention.  Make sure the value you are getting is worth the gold you are trading.

 

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Customer Feedback

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Customer Feedback

Nothing beats customer verbatims.  Marketing teams might roll-up feedback from surveys.  Sales teams may advocate for their accounts.  But nothing is more powerful than the words (or video) of a customer talking about their experience.  Find more ways to get that into the organization and your products will be better and your customers more loyal.

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Fighting for Diversity: from the room where it happens

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Fighting for Diversity: from the room where it happens

By now, you all have seen fearless girl statue by Kristen Visbal that State Street Global Advisors placed facing down the bull on Wall Street to bring visibility to the lack of diversity on corporate boards of directors.  The symbolism of a girl facing down the charging bull and sticking up for herself is resonating and it has already become a popular tourist attraction in New York City as girls line-up to strike a super hero pose alongside their bronze muse.

Although the statue appears to be defiantly advocating for herself, I can tell you from experience the real key to gaining diversity on boards is to have white, middle aged men take a stand and fight for diversity.  Capable women, people of color, and other minority groups require advocacy from inside “the room where it happens” (to quote my favorite political hip hop musical, Hamilton).  Seats at the table are advocated from peers within that room and within the leadership ranks that exist. 

This year, I joined the Leadership Search Committee for InfoComm International, the trade association for the commercial AV industry.  In this role, I am working with a team who is tasked with identifying talent to fill critical committee leads, board positions, and officer roles for the organization.  The committee’s conversation has focused on making sure that the nominees is capable, high integrity, engaged, and willing to serve and that we are building the leadership pipeline to preserve and growth the organization into the future.

As we work on the appointment recommendations and election slates for the coming year, we are really challenging ourselves to be strategic and find geographic, racial, gender, and company type diversity to the leadership pipeline.  In a male-dominated technology industry, diversity doesn’t happen without conscious and disciplined effort.  I am inspired by my committee peers, both men and women, who are doing the difficult work of developing industry talent and encouraging people to serve and lead. It requires determination and persistence.  It requires resourcefulness to find the qualified candidates that also represent diverse perspectives.  It, like other good things, requires struggle to achieve and is best accomplished together.

The InfoComm organization is an example of one who is very purposeful about building their leadership pipeline and thinking long-term about what is best for the organization.  Other organizations and companies who take this approach reward their stakeholders with great returns.  I applaud the work that is being done both on non-profit and commercial boards across the country and the world, the world many of you are spearheading, to add diverse perspectives to their governance: those who are daring to grow talent and advocate for opportunities for that talent to serve.  Fearless, indeed.

Originally published in LinkedIn's The Pulse

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Skidding in Broadside

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Skidding in Broadside

“Life should not be a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside in a cloud of smoke, thoroughly used up, totally worn out, and loudly proclaiming "Wow! What a Ride!” - Hunter S. Thompson

 

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Here Are Ten Ways to Listen More

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Here Are Ten Ways to Listen More

"The key to learning is listening. It was great to talk to CEO World about this important topic. I confess I'm still learning to apply my own advice here, so I'd better listen up!"

Everyone knows that great leaders are great listeners. But as senior level professionals, our opportunity to listen diminishes as we are the people in the room that introduce new ideas, present plans, answer questions. When we do listen, many of us are guilty of preparing our response, thinking about the implications, or predicting what the speaker will say next, instead of truly listening.

How can we tap into the thoughts from our staff? Here are ten ways that you (and I) can listen more.

1. Stop talking.

When someone is speaking to you, let them finish their entire thought before responding. It sounds simple, but it is harder in practice. Even when we agree, we often interrupt to show we understand the point by talking over the speaker before they have finished their thought. In disagreements, we might talk over the person to communicate our counter viewpoint. But when you stop talking and better yet, pause before you respond, you will likely hear something in that last trailing sentiment that you might not have heard if you had interrupted to rush your reply.

2. Advocate for the person speaking.

As you master the skill of refraining from interrupting, you will notice how often others interrupt. Be an advocate for the person speaking – not necessarily agreeing with their position but asking others to let them finish their statement.   

3. Don’t multitask.

In our fast-paced society, multi-tasking is celebrated. But to truly listen, the person speaking deserves our full attention. Be fully present throughout the conversation by taking notes and asking follow up questions as needed. By focusing on their words instead of using the time for other responsibilities, we can be more productive in that moment, gaining more clarity for that topic and potentially save time in the future by eliminating misinterpretation.

4. Let someone else lead the conversation.

As senior level professionals, we are inclined to determine the topic, set the agenda and carry the conversation. But when we let someone else lead, whether it be a meeting, group discussion or 1:1, we can empower others voices to be heard while giving ourselves an opportunity to stop, listen and reflect.  By being fully present in the moment with the person speaking or leading the conversation you communicate respect and encourage leadership amongst your team members.

5. Ask open ended questions.

When my kids started in school, I would ask them about their day and get brisk “it was fine” or “good” answers. I asked a friend how he got his teenagers to share details of their day and he recommended starting the daily conversation with a story starter, such as “I dropped you off at school, then what happened?” With a storytelling prompt, I found that it was easier for the kids to recall details about their teacher, friends, lessons and activities. In business, this technique works well as you lead people through a timeline, putting them in the moment and likely down a path you wouldn’t have heard if the question could be answered with one word.

6. Be open to old ideas.

As senior professionals, we’ve experienced many of the same situations repeatedly and original ideas and solutions are far and few between. When we hear an idea we’ve already proposed to colleagues or a solution have tried ourselves, we tend to stop listening, often interrupting the speaker with a statement “we already did that.” But if we take time to listen more, we can consider how the environment, products, and other variables have changed since our last attempt. If the context has changed, we might have a solution that could work again or for the first time. By listening more effectively, we can open ourselves to old ideas.  

7. Repeat back what the person said.

Reflecting listening skills are a tried and true method for increasing understanding and empathy. By summarizing the speaker’s thoughts in their own words, you demonstrate that you are engaged and understand their statement. If there is a misinterpretation, summarizing gives the speaker an opportunity to clarify and continue the conversation knowing you are both on the same page and leading to a more productive outcome.

8. Create environments to listen.

One reason we might not hear from our team is we haven’t made the time to listen. Schedule meetings and secure a meeting place that allows for conversation. If there is a specific topic you want to learn about, share a few questions before the meeting, kick off with a reminder of those questions, then stop talking and start learning. Scheduling your undivided attention shows your commitment to listening to your employees.  

If it’s not possible to meet individually, schedule small group meetings, regularly host open office hours, or make time at the end of a team meeting for open Q&A. Dedicating consistent time to listen to your team, shows that you value their opinions and want to learn from their areas of expertise.

9. Listen with your eyes.

A small child asked his mother if he could tell her a story while she was cooking. The mom responded “sure” but didn’t move her eyes from her cooking task. Moments later she looked down and asked why he wasn’t telling her the story and the boy responded “you weren’t listening with your eyes.”

Maintaining eye contact with the speaker demonstrates they have your full attention and allows you to pick up on their body language – their passion and excitement or their uneasiness about the topic. Listening with your eyes as well as your ears gives you clues to how the speaker is reacting to their own words and gives you greater insight.

10. Act on the conversation.

Perhaps the real value of listening more is the response it elicits. After the conversation, take time to think about the learnings – write down thoughts and any action items. Commit to following up with the person, even if you don’t have an immediate update – circling back to reference the conversation shows that you listened and have learned from what was shared.

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The Instagram Life

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The Instagram Life

I heard Joey Harrington, the famed college quarterback who floundered in the NFL, talk recently about failure and not living up to expectations.  He mentioned the challenges of having “Instagram life” and trying to keep up with the virtual Joneses.  To illustrate his point, he showed the mocking social handle @SocialityBarbie, where the Mattel doll was placed in “typical”, white-washed posts online to mock how people aren’t authentic online.  If you haven’t seen it, it’s definitely worth a look and a laugh.

But a more serious thought occurred to me.  I was struck by the interesting phrase, “Instagram life.”  Instagram is a platform, sure.  It’s a social technology, sure.  But it’s also a brand.  What other technology brand gives you “life”?  I’ve never heard someone refer to their “Whirlpool life,” or their “Arco life” or their “TiVO life.”  No, it’s an Instagram life.  Or a Facebook life.  Or perhaps even a LinkedIn life.  The platform where a corporate brand and a person’s identity combine into something resembling…well, neither.

As I reflect on this, I think any “life” that is so one-sided as to only show the good, is no life at all.  We all know heartache and the lessons that disappointment have taught.  Any “life” that can be seemingly controlled, curated, and “hashtagged” (is that a verb yet?), isn’t a life.  Real life is famously (and infuriatingly) uncontrolled, filled with surprises (both good and bad), and defies simple labels.  Unlike an “Instagram life,” real life is neither “instant” nor just a “gram” (ie, a communication).  It is an experience of sorrow and triumph and better lived together.  Not socially (as in social media), but socially (as in human connection).

 

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Rewarding Impulsiveness

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Rewarding Impulsiveness

Ecommerce, mobile payments, and related technologies have taken friction out of the purchase process.  And successfully completing tasks and “retail therapy” have proven psychological effects.  I am sure this has implications for the future of our spending habit and our relationship with stuff and money in the future.  It is important for us to recognize when impulsivity is being rewarded.  And make sure we are aware of the personal impact and implications and make good choices, even when bad choices are being rewarded.

 

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What You Can Learn in 7 Minutes?

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What You Can Learn in 7 Minutes?

I am excited to participate again this year in Portland Business Journals' BizWomen Mentoring Monday on April 3rd.  After introductions and a delicious breakfast at The Sentinel Hotel, they will set up 40 of us around the room to meet in a "speed dating" format with as many women as possible in short increments.  7 conversations, 7 minutes each.

You might be wondering what you could possibly get done in 7 minutes?  And I can tell you having been on both sides of the table at this event, you can accomplish a lot.  If you have a goal in mind and you talk to the right person.

My first year attending, I visited with leaders from companies as diverse as Blue Cross Blue Shield to Waggner Edstrom.  And I received great advice.  We skipped the "get to know" you steps of mentoring.  We skipped the pleasantries where we tried to be nice to each other.  We went right to the point.  I asked their advice and then gave it - unfiltered and extremely practical.  I brought questions, queued up behind people who were knowledgable about my topics of interest, and they provided distilled wisdom that I found very useful and actionable.

Last year, I tried to do the same for the people who talked to me.  Several of them followed up and we met up for coffee and a longer conversation.  I found it very rewarding and hope they received some insights as well.  If you were one of the ones I spoke with last time, please come see me again!  I'd love to find out what the last year has brought you and what new challenges or opportunities you are facing.

The women they have assembled as mentors this year are a diverse and accomplished crowd of business leaders in Portland from a variety of industries and backgrounds.  They include the following, including myself:

  • Christy Aleckson, Owner, Single Point Financial Advisors
  • Rebecca Armstrong, Managing Director/ Principal, North
  • Kyra Bussanich, Owner, Kyra's Bake Shop
  • Jeanne Carver, Co-Owner, Imperial Carver Ranch
  • Stacey Dodson, President, U.S. Bank
  • Angela Dowling, President, Regence BlueCross BlueShield of Oregon
  • Debra Dunn, President, Synergy Resources Group
  • Jill Eiland, PBA Oncore Fellow
  • Angie Galimanis, Owner and President, Lawrence PR
  • Alyssa Gasca, Owner, Spark Executive Solutions
  • Missy Gerber, President, Organizers Northwest
  • Anna Hutson, Founder & CEO, Avenue
  • Margie Hunt, CEO, Special Olympics Oregon
  • Laurie Kelley,   President and Chief Development Officer, Oregon Region Foundations,    Providence Health & Services
  • Tara Leigh Kinateder,  Senior Vice President and Private Client Advisor, US Trust
  • Tara Kramer, CEO and Owner, Ri-Ky Roofing and Sheet Metal LLC
  • Elizabeth Large, General Counsel Executive
  • Ivo Lukas, CEO, 24Notion
  • Juliana Lukasik, Principal/Director, Large Films
  • Diana Marsden, Owner, Aries Apparel
  • Janeen McAninch, President, Becker Capital Management
  • Judith McGee, Chair/CEO, McGee Wealth Management
  • Serena Morones, Owner, Morones Analytics
  • Francine Read, President, VOICES, INC.
  • Jan Robertson, Chief Operating Officer, Norris, Beggs & Simpson Companies
  • Sara Schmidt, Creative Director, IDL Worldwide
  • Ellen Schmidt Devlin, Director, Sports Product Management Program, University of Oregon
  • Jennifer Sheasgreen, President, Triumph Healthcare Finance
  • Angela Sheehan, CFO, Glumac
  • Ann Smith, Founder/Owner, A.Wordsmith
  • Janean Sorenson, Vice President, Parker | Smith | Feek
  • Suzanne Stevens, Editor in Chief, Portland Business Journal
  • Vanessa Sturgeon, President, TMT Development
  • Chelsea Vandiver, Executive Managing Director, Ziba Design
  • Michelle Weisenbach, President, Oregon & SW Washington, KeyBank
  • Michelle Williams, Women Living a Richer Life Program Director, Brighton Jones
  • Kimberly Wuepper Rudick, Sr. Financial Planner, New York Life

You can read their bios here.

Register here to reserve your spot!

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The Courage to Be Weak

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The Courage to Be Weak

When you think of courage, the image that might come to mind is a soldier on a righteous cause or a first responder rescuing a child from a burning building.  To be courageous is to be strong.

But most of us show the most courage when we are weak.

It takes more courage to ask for help than to offer help.

It requires vulnerability.  It requires, often, for a proudly self-sufficient person to be out of options and rather desperate.  It requires an awkward conversation, the risk of rejection, and a blow to the ego that might last long after the situation or the need for help has passed.

And it is also difficult, because most of us don’t have great examples of it in our life.  We see lots of heroism.  Lots of opportunities to serve.  Lots of stories of the little guy accomplishing much.  We see the success (whether it is plastered in corporate branding messaging or on the white-washed posts that we see of our friends on social media).  We don’t see the climb.  We don’t see the rejection.  We don’t see the others who may have been involved.  

And we don’t see the ask.  We might never in our life hear someone in desperation ask someone else for help for something serious.  Beyond the “can you pick up the kids?” or the “can I borrow an egg?” variety requests.  I am talking about the “my career is floundering” or “my marriage is failing” kind of pleas for help.  We literally have no pattern to follow on how to start the conversation or how to respond to the response (whether positive or negative). 

What have you found to be the most effective ways that you or others have asked for help of any kind?

 

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Isn't is strange how the world sticks and moves like that?

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Isn't is strange how the world sticks and moves like that?

I have been enjoying the NBC show “This is Us.” In a recent episode, a character visited his childhood home and was surprised to find a few precious items tucked behind a fireplace brick left decades ago. As he takes inventory of what he found (see how I am trying so hard not to spoil it for you?), the character reflects on how the items were still hidden there after all these years and comments “isn’t it strange how the world sticks and moves like that?”

Our careers also stick and move as well. Here are three ways our work and our workplaces can be sticky and yet demonstrate mobility.

1.   Habits die hard, so it’s good you have nine lives

Each of us learned powerful lessons in our families growing up or under the tutelage of coaches, teachers, and early bosses that affect our work habits. We learned to work hard, work smart, and communicate in these early experiences. Early habits and work styles can stick. But they can move as well. Especially if we are mindful and purposeful. In this book, The Leadership Pipeline, Ram Charan, outlines steps people take in their career to abandon the things that made them successful in the past to adopt new habits and approaches befitting their increasing responsibility or more impactful role. The first passage, as he names it, is the transition from managing yourself to managing others. Then, managing managers. Then managing functions. Then to managing businesses, then groups, and finally enterprises. And at each stage there are things that have to be learned and things that need to be unlearned. That is hard work to execute, but just like child’s toys hidden behind a fireplace aren’t appropriate for a grown-up, taste and needs change and you will need to as well. 

What habits are no longer serving you that need to adapt?

Years ago, I was the one that took notes in meetings.  I can type fast. I understood the issues. I was organized. But over time, I learned that being the scribe didn’t serve me. It kept me from fully participating in the discussion and it turned me into an administrator instead of the leader I needed to be. So, I delegate this now to others and only capture my own actions or commitments. This is a small thing, but illustrates how change occurs. One habit at a time.

2.   “Culture eats strategy for lunch,” so I hope you are hungry

The quip about the importance of corporate culture is attributed to management guru, Peter Drucker and is now the title of a book by Curt Coffman and Kathie Sorensen. And just like changing your diet, changing your culture is a difficult, but worthwhile effort. I have worked in organizations whose leaders were very purposeful and thoughtful about the culture they were building. One of my past CEOs and mentors, Balaji Krishnamurthy, went onto to found a consulting company focused on culture and its impact on strategy. Changing the corporate culture requires first awareness that it is there. It is like a fish recognizing that it is swimming in water. Only if it differs from your experience or changes in some way, do you notice it is even there. And when you do notice, it is already having a negative (or positive) impact on your results, team dynamics, and job satisfaction.  The fish is gasping for air when it leaves the water.  High performing companies think about what culture they wish to build, reinforce the preferred behaviors in many ways, and demonstrate patience and persistence. Culture is very sticky, but there are many examples of leaders who decide that what they are isn’t what they need to be and they lead change initiatives that last. But it is a process and not everyone comes along for the journey.

What elements of your corporate culture are no longer helping you achieve your goals?

I worked for an established company. An established company that was acquired by an entrepreneurial Chinese firm last year and formed an incredible international business that is now being served by the combined company and our brands (Planar andLeyard). And our business is growing rapidly (we doubled last year). Facing this caliber of change - which hold so much promise and is very exciting, yet challenging - has caused me to reflect on the kind of leader I need to be and the kind of “norms” we should be cultivating in our business. This is an effort in progress and requires constant reflection. The old ways of working, communicating, executing our plans, or even making our plans must change to keep pace, and I must change with it.

3.   Excuses never made anything better

Benjamin Franklin is quoted as saying “He that is good for making excuses is seldom good for anything else.” But that doesn’t make it less tempting to cook up a fresh batch of excuses when things go wrong or when the results of poor choices catch up with us. We blame our boss, our genes, our 4th grade math teacher, or the train being late. Our dog ate our homework or our phone battery is dead. I am not saying that these things don’t occur and that everything is within our control. Clearly that is not true. But if we focus on the excuses we can get stuck. In old ways of thinking. In old patterns of acting. In using the same excuses again and again. In not holding ourselves accountable for being better versions of ourselves.

Watch yourself make excuses. What are you trying to avoid? Who are you trying to impress? What are you afraid will happen? What excuses do you use regularly?

I have been trying to post articles on LinkedIn once a month. A discipline that I started nearly two years ago and I have been quite predictable about it. Then I wrote an article in December about the benefits of procrastination and I guess I took it too much to heart: January got away from me without a post. I blamed my busy schedule. I blamed the fact that I was writing for some other publications. Those are all true, but they were true before as well. I promised myself that I would turn one of these ideas I had squirreled away in Evernote into an article and would post it tomorrow. Then tomorrow became the day after that and now a month later, I am confessing that those excuses didn’t write the article. Only writing it did. All my efforts to procrastinate could have been directed to writing and my track record would have been preserved. In this case, this is a practice I do primarily for myself, but I see the same pattern in other more important matters. It is time to retire some of my well-used and worn out excuses and perhaps you need to do the same.

This article was originally posted on LinkedIn Pulse

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Presentation

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Presentation

"If you are doing your presentation right, no one will know or care what software you're using. It's not about the tools. It's about the meaning." - Garr Reynolds, @presentationzen

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Remain

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Remain

Remain an artist - Picasso
Remain a beginner - Jobs
Remain calm and carry on - Churchill

 

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7 Mistakes to Avoid in Leading Millennials in the Workplace

Guest article by Elita Torres with Lead Grow Develop.

As a leader, one of our most important responsibilities is keeping our workforce engaged.  Typically, that may mean adopting your leadership style to match the needs of your team.  However, with the millennial generation joining the workforce, it is not enough for leaders to have to adapt their management style.  Employers may need to look at their engagement policies as well.

Millennials or “Generation Y” are defined by many as those individuals born between 1982 and 2004.  According to the Pew Research Center, there are now 75.4 million Millennials, surpassing the 74.9 million "Baby Boomers," those born between 1946 and 1965, as the largest segment of the U.S. population. 

If Companies are to keep engagement a priority, they need to understand what drives Millennial’s motivation.  Is there a need to change one’s style to adapt to this different generation?  With so much focus on Gen Y, it pays to take notice.

A recent Deloitte Millennial survey uncovered some interesting facts about this generation:

  • During the next year, if given the choice, one in four Millennials would quit his or her current employer to join a new organization or to do something different.
  • Millennials judge the performance of a business on what it does and how it treats people.
  • When asked, “What are the most important values a business should follow if it is to have long-term success?” They responded that businesses should put employees first, and they should have a solid foundation of trust and integrity.
  • Seven in ten (70 percent) Millennials believe their personal values are shared by the organizations they work for. This rises to 80 percent among the most senior Millennials and 82 percent for those intending to stay for at least another five years. This is a strong indication that Millennials choose employers whose values reflect their own.

What values are important to Gen Y?  Working for a company that:

  • Provides a good income to employees
  • Is the best possible place to work
  • Focuses on improving the skills of the workforce
  • Provides services and goods that make a positive difference to people’s lives
  • Generating and supporting jobs

It sounds similar to previous generations.  After all, which generation doesn’t want to get paid well or work for a company where they can improve their skills?  The main difference is Millennials are not willing to wait for a company to get it right.  Their level of loyalty is lower than previous generations.  Remember the first statistic from the Deloitte survey?  70% would quit their job to do something different.

Leaders and companies can no longer afford not to put employee engagement first. 

Here are 7 Mistakes to Avoid in Leading Millennials in the Workplace

1.  Not Being Clear on Career Opportunities

Surveys show that millennial workers rate training and development as an employee benefit three times higher than they rate cash bonuses. It starts with a set onboarding plan and continues with a development plan that focuses on elevating their employees’ skills.  Find ways to challenge them through stretch projects.

2.  Establishing Your Authority through Power

If as a leader, you attempt to display your authority through your position or power, you will not achieve consistent success.  In order to motivate millennials, establish authority through relationship and respect.  Leaders need to forget top down management and now focus on side to side management.

3.  Micro-Managing          

“The new-era employee assumes they can and should contribute to conversation and decisions that affect where they work,” says Lisa Orrell of San Francisco Bay Area-based consultancy, The Orrell Group and author of Millennials Incorporated. Meetings should be open, collaborative sessions in which everyone is encouraged to share ideas. 

Explain what needs to be done and what the end result should look like, but trust them to get there on their own.

4.  Under Emphasizing the importance of Company Culture

Establishing a solid company culture has always been important but never more so than now.  If they believe that their values are being shared by the company they work for, their loyalty increases.  Make sure your company vision is clear and is reflected in your business decisions.  When identifying and building your company culture, focus on the team and not the company.

5.  Not Investing in Technology

If you have outdated technology, you will quickly frustrate your employees.  Millennials are comfortable with all the latest tech and expect it from the place they work for.  They have become reliant on technology for just about everything.

6.  Not sharing

Transparency and open dialogue is key.  If you don’t take time to connect with your employees, you will lose their interest fast.  Don’t assume you know what gets them motivated and have that dialogue with them. 

7.  Not Reconsidering the schedule

It may not be an option in every work environment, but if you can make work hours flexible, you will be meeting an important benefit.  Replace the regular 9-5 work routine and try to work around a schedule that is a win-win for both employee and company.

The good news is that you can get to know what your Millennial workforce needs by just asking.  They expect transparency, but are transparent themselves.  Just ask.

Our guest blogger is Elita Torres is a Regional Sales Director and Blogs at Lead Grow Develop.  She writes post on Leadership and Personal Development as well as a #5MinMotivation series.  Elita can be found @ElitaTorres1 on Twitter and on Facebook at@LeadGrowDevelop.

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5 Ways to Nurture High Performers

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5 Ways to Nurture High Performers

It was great to collaborate with Elisa Torres to bring some new perspectives to the readers of LeadGrowDevelop for the article below:

In every organization, there are those that are identified as key contributors to the success of the business whether they have exceptional technical skills, great relationships throughout the company and with customers, or a track record of delivering results.  We often call these “high performers.”  Research shows that high performers can deliver 400% more productivity than average performers. Said another way, every dollar you spend nurturing a high performer to even greater levels of achievement, could return 400% over investments you might make in others.  It is worth the effort.

Here are five ways to nurture high performers in your organization.

  1. Let them know they are a high performer in the company
    Tell them that their contribution matters and that their future with the company is bright.  Because every person is different and frustrations and challenges come every day, you should plan on telling them often and in different ways. Tell them with words, with recognition, with opportunities, with advancement, and in their compensation.  Early in my days as a manager, I would gather the team together periodically and hand out trophies (yes, literal trophies, recycled from a thrift store) to recognize employees.  I like to write notes of appreciation and have used team and individual gifts to call attention to great performances.  I use our quarterly review conversations to remind high performers that they are valued by the organization and reflect on all the progress and achievements they have accomplished.
  2. Give them an opportunity to profit from the company’s success
    You should be paying your high performers well.  According to research from Oxford Economics and SAP Success Factors, the number one contributing factor to job satisfaction is base pay, followed shortly by bonus incentives.  Special attention should be paid to those high-performers who have had long tenure in the organization and whose annual raises might not have kept up with competitive market pay rates.  But even more important than base salary for those with growth potential, is the opportunity to align their pay with the performance of the company overall.  Many companies have bonus plans or profit sharing for employees, and those are great programs to leverage for high performers.  But you might consider other programs as well.  A special bonus for finishing an important project, an incentive tied to achieving a certain group goal, or even a retainer bonus tied to working through a particular date of importance to the organization.  Find creative ways to compensate your highest performers and you will find them being more creative to grow the business.
  3. Keep them accountable
    Just because you are telling your employees that they are valued and critical to the business success, doesn’t mean that key employees should be coddled or that they can do no wrong.  In fact, it is the opposite.  It is like a coach who is hard on their best players, because they see their potential.  Randy Pauch in his book and lecture entitled, The Last Lecture, he told a story of playing sports under a demanding coach.  His conclusion was that “when you’re screwing up and nobody says anything to you anymore, it means they’ve given up on you.”  So, if you have employees that you have not given up on and in fact you see incredible potential, you should spend more of your time and effort helping them to achieve.  Encourage not only your effort, but get other managers and executives in the company to invest their time to give high potential employees the most resources possible.
  4. Help them see their potential
    For many high performers, they know what might have made them successful in their current role, but they might not see clearly what they have to strive for.  This is where mentoring, networking, education, and even executive coaching can play a role.  Success, they say, is contagious.  So put your best performers in position so that they can see what world-class performance in their field looks like and they can create their own plans.  Research shows that high performers show a tendency towards self-directed learning and in fact, that is one of the ways to identify high performers who have head room to grow beyond their current roles or contributions.  Early career employees often don’t know what might be possible and need someone to show them the way.
  5. Align their career goals with the company’s goals
    We all know the cost (in both hard expenses and soft cost distraction) of losing a key performer.  So, it is important to collaborate to create a career path that aligns the company’s goals for low turn-over and high productivity, to the employee’s goals for personal growth and financial rewards.  Career paths no longer fit solidly on rungs on a ladder, so as a leader you shouldn’t limit your own thinking either.  Not every key contributor or high performer wants to be a manager, wants to take an international assignment, or shares the same motivations.  A one-size-fits-all approach doesn’t work in today’s business environment.

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Is life a game of chance or skill?

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Is life a game of chance or skill?

You may be following the political and legal battle surrounding daily fantasy sports.  I won’t recap all the issues here, but one crucial question that has been poised is this: Is betting on sports a game of chance or a game of skill?  Certainly playing the lottery is a game of chance.  Being better at starching the tickets or picking numbers, has no correlation to winning.  However, assembling a fantasy sports team does require a degree of familiarity with the players, understanding of their injuries or mindset, and, although I don’t play, I assume one can increase their odds with better choices.

This got me thinking about gambling and risk in general.  It seems to me that life itself is both a game of chance and skill.  You can be born in the right country in the right century to maximize your options.  That clearly is luck.  You can make good choices and improve your odds.  You can educate yourself, get and take advice, and learn from your mistakes.  Life certainly favors the skilled.  You can meet a friend-of-a-friend at a cocktail party (chance) and impress with your expertise and witty banter and they consider investing in your company, buying your product, or offering you a new position (skill).  Like this example, most of us experience a good mix.

There is a quote attributed to Thomas Jefferson that reads “The harder I work, the luckier I get.”  I suppose that is really the take-away from our experience.  Everyone is gambling with the hand we have been dealt.  And with better plays, can win more frequently.

I am very aware of the blessings that I have received without my involvement or skill.  I am humbled to realize that my success is in a large part attributed to things outside my control.  This is why I am committed to give others the opportunity to achieve their full potential.  This is why I joined the board of Marathon Scholars.  I invite you to learn more about the organization, become a mentor, invest in a scholarship for a worthy scholar, and find other ways to get involved.

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