Crossing Uncharted Territory
We recently took a deep dive look into PWC’s 23rd Annual Global CEO Survey, titled Navigating the Rising Tide of Uncertainty. It is thought provoking – to say the least. Their research found a dramatic reversal in mood from just two years ago – from a record level of optimism, to a record level of pessimism.
It got us thinking since it mirrors our read of the market from the work we do with our clients.
Their extensive data allowed them to identify several themes under an overarching concern about how uncertainty is undermining the economic outlook on many different levels.
While there is no end to the valuable information in their report, I would like to shine a light on one of these themes, the one related to the question of talent and the fact the decision to upskill the workforce or not is no longer even a question. It is no longer a question because upskilling is imperative. Full stop.
The forces driving the need to upskill have been gaining momentum for many years now and you will recognize them immediately:
- Increasing job automation
- Decreasing talent availability
- Decreasing mobility of skilled labour
- The ageing of talent
This is just the tip of the iceberg.
There is a lot to absorb in this report and a lot to think about. It is definitely worth a serious read. https://www.pwc.com/ceosurvey
Mentorship as an Organizational Way of Life
How many times have you asked yourself why the concept of mentorship just doesn’t ever seem to gain any traction in your organization?
As you will have seen in many, many organizations, and unfortunately your own too perhaps, mentorship programs are often well meaning, but completely unsuccessful. When you think about it, though, it’s not really all that surprising. Mentorship should be a natural and supportive series of relationships and interactions, not a mandated and hierarchical program.
I think you will find that Harvard Business Review is onto something meaningful in their recent article entitled Real Mentorship Starts with Company Culture, Not Formal Programs. They introduce the concept of mentors-of-the-moment, leaders who promote a mentoring culture by finding opportunities in daily interactions to develop or grow junior colleagues and peers.
How can you incorporate the mentors-of-the-moment concept and create a mentoring culture in your organization? This article provides an extensive list of recommendations including something as simple as mentor-of-the-moment conversation starters. Let this be the first step toward embedding mentoring behaviours in your organization’s DNA.
To read the full article, you can go to https://hbr.org/2019/12/real-mentorship-starts-with-company-culture-not-formal-programs?utm_medium=email&utm_source=newsletter_weekly&utm_campaign=weeklyhotlist_not_activesubs&referral=00202&deliveryName=DM62721
Beware the Myths About Strategy
Is it possible … there are things you don’t even know you don’t know about setting strategy? Without even realizing it, have you succumbed to some of the myths that surround this most important leadership discipline?
The tricky thing, according to Harvard Business Review in their article entitled 5 Myths About Strategy, is that myths can be very subtle and alluring because they are usually based on a plausible half-truth. You will recognize all five of the myths they present and be fascinated by the arguments on why each one is plausible and why it is wrong.
It’s good to shake up your thinking and challenge your paradigms on a regular basis. A look at these five myths will do just that.
To read the full article go to https://hbr.org/2019/04/5-myths-about-strategy
How to Succeed as the Leader of Leaders
What are the mindsets and practices of excellent CEOs?
That is the question posed by McKinsey & Company, and I’m sure you will be most interested in the answers they have come up with.
To explore this question, McKinsey mined their extensive proprietary database on CEO performance, which includes 25 years’ worth of data on 7,800 CEOs from 3,500 public companies across 70 countries and 24 industries.
Based on this research, they were able to determine the 6 main elements of the CEO’s job, and the mindset with which each of these elements should be approached. They include:
- Corporate strategy – focus on beating the odds
- Organizational alignment – manage performance and health
- Team and processes – put dynamics ahead of mechanics
- Board engagement – help directors help the business
- External stakeholders center on the long-term Why?
- Personal working norms – do only what you can do
They go on to provide the 18 specific practices CEOs should adhere to when fulfilling those responsibilities that are unique to their position in the organization.
As an example, the practices under Corporate Strategy fall into three categories:
Vision: Reframe what winning means
Strategy: Make bold moves early and
Resource allocation: Stay active.
As if all of this outstanding information wasn’t enough, the article concludes with a comprehensive framework, using the 6 elements and 18 practices, to allow CEOs and Boards to gauge performance and prioritize improvement.
This is truly a goldmine for CEOs in any industry or type of organization, and I hope you will take the time to read and reflect on everything that is offered here.
To read the full article, you can go to https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/the-mindsets-and-practices-of-excellent-ceos
Why We Forget Most of What We Learn
Are you spending a lot of money on training and development at your organization, but constantly feeling you just aren’t getting the bang for your buck you hoped for? Do you look for evidence of new learning, but find very little seems to be retained and applied?
This is an age-old problem, and you will undoubtedly be interested in the new approach offered in Harvard’s recent article entitled Where Companies Go Wrong with Learning and Development. To begin with, they note that the measure of learning and development should be on the business impact created, not boxes ticked or credits gained for promotion. As they write, flawed incentives beget flawed outcomes – such as learning at the wrong time, learning the wrong things and quickly forgetting what has been learned.
The approach Harvard is presenting is Lean Learning and, while you will have your own views on the lean principles that have been popular in the past, there is a lot of merit to the concepts here.
Lean learning is about:
- Learning the core of what you need to learn
- Applying it to the real-world situations immediately
- Receiving immediate feedback and refining your understanding
- Repeating the cycle
There is a lot of specific and useful advice given for applying lean learning. This relatively short article can help put you on the path to meaningful and sustainable learning and development in your own organization. Finally.
To read the full article, you can go to https://hbr.org/2019/10/where-companies-go-wrong-with-learning-and-development
Taking an Organizational View of Time Management
Have you come to the realization that ineffective time management is not just an outdated concept for individual employees, but instead a very real barrier to achieving your organization’s strategic priorities? Are you ready to hear what the latest research on this age-old problem has to offer?
A recent article from McKinsey, entitled Making Time Management the Organization’s Priority, could be a game changer for your leadership team. They begin with compelling statistics from their recent global study, which boil down to the fact almost 50 percent of executives are saying they are not spending enough time on strategic priorities.
So, what new solutions can be offered? Here are McKinsey’s suggestions:
- Have a time leadership budget – and a proper process for allocating it
- Think about time when you introduce organizational change
- Ensure that individuals routinely measure and manage their time
- Refine the master calendar
- Provide high-quality administrative support
There are some very compelling arguments here for making time management an organizational priority, and some very thoughtful remedies put forward. It is time to get time management back on your side!
To read the full article, you can go to https://www.mckinsey.com/business-functions/organization/our-insights/making-time-management-the-organizations-priority