Executive Insider is a biweekly newsletter designed to help you succeed with Job Search, Career Advancement and Self Development
Issue Dated: November 02, 2009
A. Letter from the Editor
November 02, 2009
Some of the most energizing meetings can happen after 5pm, as evidenced recently by an after-hours chat with Dave Opton, CEO and founder of ExecuNet. We talked about some new ideas, initiatives and events, and then, as I usually do, I asked questions that drew upon his 40+ years of life and professional experience.
The conversation turned to management, which Dave said, is one of those things you can't really understand how you will perform until you actually do it. "There isn't much that fully prepares you for the kinds of things you'll encounter with your organization and with your team," he said, recalling his HR days when he saw employees promoted to supervisory roles only to realize that some preferred working independently.
"Not everyone wants to manage; some are more satisfied without directing, delegating and overseeing others," Dave said. "That shouldn't impede anyone's career path; the non-managers are as important as the managers. People can be leaders without having followers," he said, referring to individuals who lead by example, role and knowledge.
So, how does a manager differ from a leader? Dave says it can often be a "know it when I see it" but moreover, "a leader compels you to follow, without being told to do so."
The only thing that overcomes hard luck is hard work
— Harry Golden
B. Top of Employment Market Stabilizing
Confidence in the Executive Employment Market — Next Six Months
Source: ExecuNet
With improving corporate profits underscoring signs of increased economic growth, recruiters are forecasting an increase in hiring activity at the executive-level, according to the latest ExecuNet Recruiter Confidence Index (RCI) data.
According to October's survey of 172 executive recruiters, 56 percent are "confident" or "very confident" the executive employment market will improve during the next six months — which is essentially unchanged from last month. Those who are not confident that executive employment market conditions will improve during this period of time dropped from 8 percent in September to 6 percent in October, which marks the lowest "not confident" reading since May 2008.
"Recent hiring activity indicates the recovery will be based on business re-investment and global economic growth," says Mark Anderson, president and chief economist of ExecuNet. "While we expect the executive employment market to rebound at a slower rate when compared to the recovery that occurred after the last recession in 2001, fewer companies are planning to trim leadership staffs in 2010 and many are using the opportunity to get executive talent on board that will help them come out of this downturn profitably."
Recruiters' short-term confidence remained stable, as 24 percent of responding recruiters are confident or very confident the executive employment market will improve during the next three months — down slightly from a 12-month high of 27 percent in September.
The industries recruiters expect will generate the greatest growth in executive-level job opportunities through the end of 2009 include:
Healthcare
Clean/Green Technology
Energy/Utilities
Pharmaceuticals/Medical Devices/ Biotech
Environmental Products/Services
Introduced in May 2003, the Recruiter Confidence Index is based on a monthly survey of executive search firms conducted by ExecuNet, a private network for business leaders. A leading indicator for the economy and the executive job market, a reading above 50 percent indicates recruiters expect the number of search assignments in the next six months will increase.
C. A Talent Management Strategy for Today and Tomorrow
During tough economic times, layoffs are prevalent. But such a strategy — while perhaps effective in the short-term — isn't the wisest action for companies that expect to thrive in the long-term. According to a report from Accenture entitled Managing Talent in Uncertain Times: Talent Management Actions That Help Companies Navigate a Difficult Economy, companies should avoid "across the board" job cuts because "it may jeopardize a company's ability to rebound and could have a negative impact on the employer's brand when news of layoffs spread through the media."
The report recommends that companies evaluate employee performance and determine how to keep top performers and growth areas of their businesses working together. It also suggests that initiatives such as flexible work programs can help improve an organization's bottom line as well as bolster "goodwill" between the company and employees, thus improving employee retention.
Jeffrey Pfeffer, PhD, author of What Were They Thinking: Unconventional Wisdom about Management, tells ExecuNet in the CareerSmart Advisor newsletter that leaders cut costs (including staff cuts) because they expect the strategy will yield an automatic increase in profits. "For some reason that I truly do not understand, staff, at least in the US — which is about the only industrialized country that has no employment stability incentives or protections — often looks like the easiest and quickest thing to cut," says Pfeffer, a Thomas D. Dee II Professor of Organizational Behavior at the Graduate School of Business at Stanford University.
Instead of improving business, job cuts can have long-reaching effects on a company's operations, notes Pfeffer. They can lead to reduced morale among employees, a reduction in product and service innovation as well as customer service. Pfeffer suggests other cost-cutting measures, such as cutting wages, with higher percentage cuts for higher ranked employees.
D. Me 2.0
The term seem new, but "personal branding" has been around for decades. Successful people have been clearly displaying their value to the world, maximizing their potential to create better opportunities. Now, in the modern "2.0" world, branding oneself is easier, more affordable and, with the deluge of available executive talent in the job market today, more essential than ever.
In his book, Me 2.0 [Kaplan, 2009], Dan Schawbel unveils his four-step plan for taking command of one's brand. He explains how to discover, create, communicate and maintain a personal brand, one that will differentiate you from the crowd. "Personal branding will become the cornerstone of recruitment as the adoption of social media and networks expands. From screening to interviewing and candidate selection, the recruiting process will be controlled by social media and networks, where recruiters can connect with the right candidate to match their open position and engage virtual conversation," says Schawbel. He adds that not only will personal branding be a primary recruitment tool in the near future, it is how job seekers can stand out in the crowd today. He says, "Traditional résumés don't differentiate our brands, as they don't capitalize on our personalities. Social media will put the personality into résumés."
In this exclusive interview, ExecuNet Editor Will Flammé asks the author to define personal branding. Here's an excerpt:
Q. What is personal branding, and why is it so important for today's business leaders?
Personal branding is how we market ourselves to others. Each and every one of us has a brand because we are constantly being judged based on first impressions. Also, we are forced to sell our ideas and unique abilities to all stakeholders inside a company or as an entrepreneur.
Personal branding is critical in a world filled with clutter, competition and ambiguity. To be a brand means to use similar branding strategies that corporations and products use to create an experience — a friendship — with an audience. People trust people, and will therefore be more inclined to purchase your product or hire you based on their relationship with you or what they hear about you.
As a business leader, it's imperative to have leadership skills that will persuade people to want to work with you. It's easy for leaders to retain top talent, and the groups they lead can work smarter and faster with strong leadership. In today's world and working climate, people switch jobs more than ten times in their careers, which means business leaders will have to hone their skills and become great communicators in order to sustain their organization. Personal branding is the glue that will attach subordinates to their managers and vice-versa.
[ExecuNet members can read an expanded and exclusive interview with the author in an upcoming issue of CareerSmart Advisor.]
E. Create Chemistry that Can Make or Break Your Next Interview
Chemistry. You know it — you feel it — it's the "click" in an interview that can move you to the top of the list.
How can you get there if there's not an immediate connection? Through you own personal assessment, executive coach Linda Dominguez will uncover your DISC style and teach you how to read interviewers and easily identify their style on the phone or in person. You will be able to easily connect with anyone, at any level, on any subject and be heard.
Discover your DISC style and learn:
How you Direct Problems
How you Influence People
How you Serve Risk and Change
How you Comply with Systems and Procedures
As a program participant, you will be provided access to the DISC assessment center for your personal DISC report. It will be emailed to you prior to the program.
The term seem new, but "personal branding" has been around for decades. Successful people have been clearly displaying their value to the world, maximizing their potential to create better opportunities. Now, in the modern "2.0" world, branding oneself is easier, more affordable and, with the deluge of available executive talent in the job market today, more essential than ever.
