Tag Archives: Career

How Do You Market to Company Insiders? Three Suggestions

Situation: The key to a career development company’s growth, historically, is leveraging relationships with insiders in potential client companies who know the needs of their own companies. The key benefits to these people are access to good people, no recruiting fees and feeling good about the experience. What is the marketing message to this group? How do you market to company insiders?

Advice from the CEOs:

  • Ask them. You already have a number of company insiders who work with you. Develop a detailed survey to query what they see as the key benefits of working with your company, and which of these benefits are most important to them.
    • Consider a broad quantitative survey that you can administer via the web.
    • Complement this with a smaller in-depth interview survey to understand qualitatively how they benefit from their relationship with your company and the service that you provide.
  • Your equity is the experience that these people enjoy when they work with you – this is your leverage.
  • Your pitch is emotionally oriented. Stick with this. Saving recruiting fees will not be as important given your focus and the company insiders that you are likely to attract.

How Do You Get New Employees Up to Speed? Seven Thoughts

Situation: A company has a new set of employees coming up to speed, but this is happening slowly. The work environment is semi-skilled, with learning curves for new office employees and apprentices. How do you get new employees up to speed?

Advice from the CEOs:

  • Provide a competitive level of compensation to journeymen and higher level office employees. Make these levels of skill to which office employees and apprentices aspire.
  • Develop a mentor program. Provide chits (company currency) to both the mentor and the mentee for learning each new processes. Make awarding these chits a big deal. For example, the mentor and mentee collect their chits from the CEO who then takes them down to the treasurer to collect on the chits.
  • As appropriate, create a team learning environment. Game theory has demonstrated that both basic and more advanced skills can be successfully taught in a team game environment where there is both competition and rewards for attainment.
  • Set up a system where successful training is demonstrated bench performance.
  • Establish Operator 1, 2 and 3 levels to qualify for graduated levels of jobs or responsibilities. This creates a career track and an incentive to go for the next level. Celebrate employees as they move from level to level.
  • Company celebrations are important. Celebrate birthdays, tenure anniversaries, skill level attainment, career track attainment, and so on at monthly meetings or events.
  • Hire slow/fire fast. Give new employees a fair shake, but if their mentor doesn’t see promise in them, let them go.

How Do You Set Appropriate Expectations? Four Suggestions

Situation: A CEO asks: How do you help people appreciate the difference between where they want to be verses where you need them to be? How do you help them understand the realities of career and financial potential that have been set for your company? What do you do to help your employees understand what has to happen before they get to the next step? How do you set appropriate expectations?

Advice from the CEOs:

  • The current labor market has yielded a different employment environment compared with 20 years ago. Many new hires are either:
    • Young – without long term expectations or perspective;
    • Possess an entitlement mentality;
    • More seasoned and possibly looking toward retirement; or
    • Have personality challenges.

 This is just current reality and will last until the next contraction.

  • If you have a clear policy on compensation and promotion you are way ahead of the game because you can communicate this clearly at onset of employment. If you don’t have this, create it and make sure that it is communicated consistently to new employees and during all employee reviews.
  • Once you have established and communicated a clear policy on compensation and promotion the question becomes, on an individual basis, whether an employee “gets it” or not. If they don’t, perhaps your company is not for them.
  • Is there value to stock options as a bonus?
    • If you are a public company, they have value because stock options are tradable within legal guidelines.
    • If you are a private company it’s a different matter. Other than as an emotional boost, without a liquidity event the stock has no value except for possible periodic distributions against shares held.

How Do You Optimize a Promotion? Four Recommendations

Situation: A company has a long-term employee who has been growing in responsibility as Customer Service Supervisor. The CEO is considering giving this employee the new title of Production Manager at the same time that the employee receives an annual wage increase. How do you optimize a promotion?

Advice from the CEOs:

  • Any promotion or increase in responsibility must be consistent with the strategic direction of the company. What are the company’s current and future needs and, based on past performance, can this individual satisfy those needs? If so, this may be a good match.
  • In addition, it is important to consider the needs and career path of the individual. Does the new position involve an increased time commitment, additional skills and training, or other important factors, and is the individual prepared for this increased commitment? Will a higher level of commitment be rewarded financially? The only way to answer these questions is to have a conversation with the individual.
  • If as the first two questions are considered there is any doubt, a longer-term transition may be appropriate. Meet with the Customer Service Supervisor and set a series of goals and objectives that will demonstrate their ability to assume the new role over a 6 month time frame. The concept here is that you must work at the level of the new job before you get it.
  • Before embarking on the above recommendations, draft a job description and list of responsibilities for the new Production Manager position, consistent with the company’s needs as it grows. This will involve input from employees who currently handle these responsibilities. Also look at the reporting structure as it currently exists and as it may change.

What Should You Ask When Evaluating New Opportunities? Five Foci

Situation: A CEO recently sold his company and is evaluating new opportunities. What are the most important questions you should ask when evaluating new opportunities?

Advice from the CEOs:

  • Perhaps the most important thing to evaluate is your passion for the choice that you select. As you evaluate options look closely at the business involved and your enthusiasm for that business. In addition, how does the company feel to you? Does the staff and culture reflect your values? Are you comfortable with the sense of teamwork and collaboration that you see?
  • Doing a cost/benefit analysis on each opportunities, with a focus on:
    • Financial stream – financial prospects for the company as well as the financial package and incentives that you are being offered. In the case of an early stage company, what are their prospects for obtaining financing? If you will be an investor, what is the investment required on your part and what it will cost to support family until you can replace your recent salary?
    • Personal enthusiasm and satisfaction associated with each option.
    • Consult several trusted advisors throughout your selection process
  • Any new CEO assignment requires considerable work and focus, especially in the early phases. Anticipate long hours. The more that you feel compatible with the company and culture, the easier this will be.
  • Look for an appropriate balance between your personal and career priorities, and the financial opportunity offered by each option. If there is an imbalance, you will have to determine which – financial or personal priorities – you want to give the greatest weight.
  • In addition to personal, career and financial priorities, determine the most important factors that you want in your lifestyle. As you evaluate options, assess the match that each option offers to your results.

How do you Manage a Multi-generational Staff? Nine Suggestions

Situation:  Employee pools are now multi-generational, with Baby Boomers, Gen X, Gen Y and Echo-Boomers. Each group may have different expectations for work environments and careers. How do you connect with different generations? How have you set up mentoring programs?

Advice from the CEOs:

  • People may be of different generations, but they are still individuals. Ask what drives or motivates them, and what they would consider an ideal reward for hard work.
  • Some companies offer a sabbatical after several years of employment – the opportunity to work on hobbies, go on an adventure or use the time as they wish. This attracts employees and encourages retention.
  • Some employees don’t seek promotion but are good contributors. They may prefer an extra week of vacation over a promotion.
  • One company gives employees budgets to spruce up their work space – allowing them some control over their work environment.
  • What are good tips on working with younger employees?
    • Coach them to communicate thoughtfully and carefully – instead of shooting from the hip without considering impact or consequences. Younger managers may find that they need more patience communicating expectations to older staff.
    • Establish individualized performance metrics and enable them to monitor progress on their computers.
    • Bring them into the process; don’t tell them to wait. Let them start as an observer. Listen when they have questions or suggestions. Ask their opinion.
    • Break down job tiers into additional levels with more achievement incentives. Allow them to reset expectations frequently.

Key Words: Multi-generational, Boomer, Gen X, Gen Y, Echo-Boomer, Expectations, Environment, Career, Mentor, Motivation, Reward, Sabbatical, Incentive, Communication, Performance, Expectations