Tag Archives: Learning

Should I stay or should I go?

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The topic of counter offers is an interesting one. I am sure you have seen articles and thoughts about the subject and they are usually one person’s perspective on the topic. For a somewhat different approach, we’ve reached out to people in our network to gain their thoughts and perspective on the topic.

 

 

We asked:

You have just received an offer to join a new firm. You are giving notice to leave your current position and your employer makes a “counter offer” to keep you from leaving. You start to think about whether or not to take that “counter offer.”

Why would taking a counter offer can cost you more in the long run?

Read their responses below:

“My experience in being on the other side of the counter is that they only delay the inevitable.  Whatever, led that individual to go as far down the path as getting an offer at another firm (in most cases) will not have fundamentally changed. They will just be paid more to tolerate whatever it is that they didn’t like before. So now if they turn down the other offer they’ll be back in the market again in 6-12 months or less and most likely unable to go back to that original firm that recruited them.”

                                                                      Monty Hamilton, CEO, Rural Sourcing

” I think the reason few people accept counter-offers is simple, you have exhausted all avenues of resolution with no resolve.   If you are underpaid given the market, then either your employer isn’t in tune with the market or does not feel you are of value.  You shouldn’t have to threaten to leave before someone is willing to do something.  If you accept the counter, what is going to change, all of the same conditions still exist and it could be to your detriment as you could get pegged as a problem person.  Further I think the same thing could be said for any reason you would want to leave, career progression, problem co-worker, etc.  If you have a good people manager and a good HR department then your issues would have been addressed and you wouldn’t be looking for a new job.  And if your HR department and people manager can’t work together (or around each other if one of them is the problem) to remove appropriate obstacles then you don’t want to work there anyway.”

Peter Magladry ,Client Relationship Director at Willis Towers Watson

“Don’t take the “counter” of equal pay unless it comes with a fast-track commitment to greater responsibility.”

Reed Keller, Former PWC Consulting/Vice Chair.

“It has always been my perspective that if the person you are trying to keep is absolutely critical to your operation, and he or she comes to you to say they are taking a competitive offer then shame on you for not recognizing their value up to that point. You may be able to keep them  for some period of time but you have lost a piece of their heart and passion to work for you. 

From the employee perspective, unless the employer makes the counter offer so good and you were not sure about the other company, then by all means consider the new offer from your current employer.

But prepare yourself to be able to walk out that door in the future because your current employer obviously doesn’t really value you on a day to day basis. If they really valued your contribution to the team, they never would have put you in the position of looking to the outside. I have only left an employer when the passion I needed to succeed at my job has been lost. Rarely has a counter offer ever brought the passion back to keep me for the long term.”

Tom Mezera, Mezera Consulting LLC

This is the first installment of this series. We hope you find these perspectives interesting. If you would like to share your thoughts on this for future blogs, please let me know.

Larry Janis, Managing Partner, ISSG, janis@issg.net

In search of a better stretch target

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By Ryan Davies, Hugues Lavandier, and Ken Schwartz

Aggressive goals can dramatically improve a company’s performance. But unachievable goals can do more harm than good. Here’s how to stretch without breaking.

The urge to improve is innate in most companies, where better service, stronger performance, and faster operations are inextricably tied to earnings, bonuses, and shareholder returns. The impetus is so strong, in fact, that the practice of setting stretch targets for a company’s performance has become emblematic for the grit and aggressiveness expected of a modern executive. Managers take pride in seeking to achieve the unthinkable.

Sometimes they succeed, surprising even themselves with how much stretch targets can improve performance. But there are limits to how far they can push. The wrong metrics can sap motivation and undermine performance.1 Targets set along one metric without regard for the effect on performance elsewhere can destroy value. And broad-based aggregate measures of profit margin, operating profit, and earnings per share are only loosely linked to valuation. One CFO recently admitted to us that his multibillion-dollar global company would hit its quarterly goals for earnings before interest, taxes, depreciation, and amortization (EBITDA), but only at the cost of reducing its operating cash flow. Signs of unhealthy stretch targets can be quite clear—and any of them can lead to poor behaviors, distracting senior managers and having no impact on value.

Continue reading →

Qualities that make great leaders from A to Z

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What does it take to be a great leader?

We thought it might be interesting to share the attributes valued by senior leaders in our network.  The contributors are recognized leaders in a variety of enterprises: two global professional services firms; healthcare software; law; world leader in enabling connected commerce; private equity; and, multinational foods. We hope you find inspiration and an insight or two from their words.

 

Ability to Guide-A good leader should be able to guide his/her team to be able to perform well in all scenarios. Leadership does not mean dominating people. It means encouraging them such that they work to the best of their abilities and produce positive results.

Building a Great Team-Team building is not the easiest things to accomplish. Great managers are really measured in their ability to build great teams. For a team to perform efficiently, their leader should be able to motivate his/her team.

Communications-Great leaders are great communicators. He/she must be able to effectively and regularly communicate to deliver the expectations of company’s leaders have set as the groups goals. Great leaders communicate frequently, provide context and ensure employees can tie decisions back to corporate goals and objectives. Be a great communicator and learn how to make and deliver a good pitch

Decision-Making and Problem Solving are necessary skills. As a leader sets his/her they need to be able to recognize problems and issues and figure out the best approach to resolve the issues and move his team forward.

Direction-Leaders not only show the path, but are able to dive in and solve for challenges along the journey!

Enablement- Strong leaders trust their people and work hard to ensure their teams have what they need to succeed, and clear the hurdles out of their way.

From the Front-Lead from the front, live it, breathe it!

Goal Oriented-Leaders should also have a visionary sight for the benefit of the company. He/she should plan the future steps for the growth his/her team and of the company.

Gratitude–Thanksgiving does not happen just once a year.  Even the weakest rower in a race keeps the boat balanced, keeps the rhythm, and enables the strongest rowers to pull ahead.  Thank every member of your team for their contribution.  Make it personal.  Make it sincere. There is always another race, and you will need all those rowers.

Integrity-Have integrity & strong values-know who you are.

Innovation-If you are not thinking about what is next, you will not be unique for customers so you will not grow and it will be hard to take care of your people.

Knowledge-A great leaders is aware of changes that are occurring in their industry, aware of innovations in their firm and their competitors. This is necessary so that he can use the knowledge and make positive contributions to the goal.

Life-Keep Life in Perspective-Work / Life Balance……………….Have fun!!

Look-Great leaders look forward and look outward.

Market-You have to be always taking market share so you need to know your competitors and your customers…You have to drive what makes you unique so customers want to buy from you and not your competitors.

Measure-Leaders understand what the goal line is, communicate it to their teams, and how to work towards that goal.  Without clarity in what the objective is, individuals will be confused on the goal and have different views of success.

Mentor-Seek wise counsel – know who has an interest in YOU.

Numbers-Business is about making money so a strong leader has to understand the activities that are going to drive growth and keep the costs down…

Open Mind-Treat your mind like a parachute.

Outcomes – never mistake action for outcomes.  Nothing is more de-motivating than have a team working hard and not getting the results – guide them towards the right target so the action matches the expected outcome.

Overwhelm-Overwhelm Problems before they overwhelm you.

Road less traveled-Fix /Build / Grow Something. Take the road less traveled–take risk & build skills not titles.

Visibility-For a team to be successful, their leader needs to bring visibility to the team of how / why each member of the team is there. What skills, experience, or knowledge do they bring to the team?

We-Leadership is about advancing others, not you. Good leaders often always use the term “We” instead of “I”.

Zeal-Leaders have to be the most energetic, focused, determined people on the team because everyone else will draw on that.

Many thanks to all of the leaders who contributed to this blog for their time and wisdom. Hopefully we have added to your perspective on leadership. If you would like to share a thought or two for a follow-up post, please let me know.

Thank you,

Larry Janis, Managing Partner, ISSG E-janis@issg.net  

 

How to retain employees through ‘servant’ leadership

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zeynepBy Zeynep Ilgaz

The term “servant leadership” was coined nearly 50 years ago in an essay written by Robert K. Greenleaf; and since then, the business world has slowly but surely embraced this concept of empathy in leadership.

Over the past few years, we’ve seen top-notch companies like Zappos, Whole Foods and the Container Store publicly proclaim their affinity for this philosophy. And, in late 2016, Starbucks joined the ranks when it called its brand-new CEO a “true servant leader,” explaining that he embodies characteristics the company wants to see in all its leaders.

Servant leadership certainly seems to be growing in popularity, but it also continues to be quite misunderstood.

So, what exactly is servant leadership?
Some people see the word “servant” and mistakenly assume that servant leaders are slaves to their employees, pushovers who say “yes” to everything and are willing to sacrifice the company’s well-being to give employees what they want.

In reality, though, servant leaders are very much in charge of their companies; they just aren’t authoritarians who boss everyone around. Instead, they’re great listeners who are humble and empathetic — but still successfully balance organizational growth with these feel-good attributes. Continue reading →

Your Team’s Time Management Problem Might Be a Focus Problem

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by Maura Thomas

iStock_000004877664XSmall - Copy“My team has a time management problem,” leaders often tell me. For example, an executive might say that their teams aren’t moving the needle on important projects, yet staffers seem busy and stressed. “Time management” becomes a catchall solution to this problem, and they want to hire me to offer tips and techniques on things like prioritizing and using their calendars better.

What we soon uncover, however, is that the root of their team’s problems is not managing time, but managing attention. And these attention management issues are due not to a skills gap on the part of the employees, but to a wider cultural problem unintentionally reinforced, or at least tolerated, by senior leadership.

Distraction is one of the biggest hurdles to high-quality knowledge work, costing almost 1 trillion dollars annually. The first step to addressing this problem is to treat it as a company culture problem that deserves the attention of senior executives.

In my experience, many leaders inadvertently allow or even actively promote the following four situations that impede their team’s ability to focus and produce their best work. Continue reading →