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Showing posts with label Talent Management. Show all posts
Showing posts with label Talent Management. Show all posts

Wednesday, 21 January 2015

Leadership in Selling, Selling Authenticity and Well-being Ideas from Davos 2015

“There are four ingredients in true leadership:  brains, soul, heart and good nerves “  
Klaus Schwab  founder and Chairman of World Economic Forum  Davos 

 21st January 2015

Here are some findings of research on leadership which readers may find interesting in view of this leadership theme at Davos this week

Tel Aviv University’s Yona Kifer  published  January 28, 2013 a study in Psychological Science.

The study concluded that :

employees were 26% more satisfied in their roles when they had positions of power.


The researchers also found that feelings of power also translated to more authenticity and feelings of well-being.

Power made the subjects feel more “true to themselves,” enabling them to engage in actions that authentically reflected values they hold dear.

This subjective sense of authenticity in turn created a higher sense of wellbeing and  happiness.

Drawing on personality and power research, Yona Kiferl and colleagues suggested that holding a position of authority might enhance subjective well-being through an increased feeling of authenticity. 
 
The researchers predicted that because the powerful are able to
“navigate their lives in congruence with their internal desires and inclinations,” they feel as if they are acting more authentically — more “themselves” — and thus are more content.

The findings were published in Psychological Science, a journal of the Association for Psychological Science. 2013


In their first experiment, the researchers surveyed over 350 participants to determine if Internal  feelings of power are associated with subjective well-being in different contexts: 1.  at work,  2. with friends, or 3.  in romantic relationships.

The results indicated that people who feel powerful in any context tend to be more content.

The most powerful people surveyed felt 16% more satisfied with their lives than the least powerful people.

This effect was most pronounced in the workplace:

Powerful employees were 26% more satisfied with their jobs than their powerless colleagues.

The power-based discrepancy in happiness was smaller for friendships and romantic relationships.

The researchers suggest that this may be because friendships are associated with a sense of community rather than hierarchy, and therefore having power in this kind of relationship is less important.
 
Causal relationships  in power, authenticity and wellbeing
In the second and third experiments, Kifer and colleagues examined the causal relationship between

a. power,
b. feelings of authenticity,
c.  general well-being,

by manipulating each of the factors independently.

The results revealed that being in a position of power causes people to feel more authentic and “true to themselves” — that is, it allows their actions to more closely reflect their beliefs and desires.

Feelings of authenticity, in turn, enhance subjective feelings of well-being and happiness.

“By leading people to be true to their desires and inclinations — to be authentic — power lead individuals to experience greater happiness,” the researchers conclude.

Kifer and colleagues propose that future research into power dynamics, happiness, and authenticity should focus on specific kinds of power, both positive (such as charisma) and negative (such as punishment).

Together, these findings suggest that even the perception of having power can lead people to live more authentic lives, thereby increasing their happiness and well-being.

Co-authors on this research include Daniel Heller of Tel Aviv University, Wei Qi Elaine Perunovic of University of New Brunswick, and Adam Galinsky of Columbia Business School.

The 'Feeling of Power' - productive, performing and pleased

Research has shown that helping others feel more powerful can boost productivity, improve performance, and leave employees feeling more satisfied on the job. A study conducted by Yona Kifer of Tel Aviv University and published in Psychological Science found that employees were 26% more satisfied in their roles when they had positions of power.

Feelings of power also translated to more authenticity and feelings of well-being, the Researchers found.

Power made the subjects feel more “true to themselves,” enabling them to engage in actions that authentically reflected values they hold dear. This subjective sense of authenticity in turn created a higher sense of wellbeing and happiness.

Yet Gallup research has found that typically 70% of American workers aren’t engaged or committed to their employers. Gallup estimates the cost of their apathy at between $450 billion to $550 billion in lost productivity per year.

I reckon those workers aren’t feeling all that powerful.

While it would be great to think we could just repeat a mantra each morning to facilitate these well being -enhancing feelings of power, another global study conducted by Gallup found that among some 600,000 workers across several industries,

  • leadership support,
  • recognition,
  • constant communication,
  • and trust

were essential to creating a thriving environment where front-line employees felt they had the autonomy to make a real difference in the organization. In other words, to instil a sense of power , people for sustained engagement you need the support of the entire system.


The Importance of Buy-In

By contrast, overly structured management-driven empowerment programmes that are coupled with continuous improvement initiatives don’t work, according to researchers from the University of Illinois, as employees tend to feel such programs are often ‘ forced upon them’ without their input on  the initiatives’ usefulness.

Instead, the researchers found that even the least powerful employees will commit to finding ways to make their organisation more efficient if given the autonomy to make decisions and execute the improvement measures they find most useful.

Sales Managers are advised to act more as coaches, giving direction and support, and trusting that front line salespeople, who are the experts on the ground, know better which improvements ultimately work in the best interest of the organisation.

The study, by Gopesh Anand, Dilip Chhajed, and Luis Delfin, shows that employees will be most committed to the organisation when they feel their day-to-day work environment is autonomous and when they trust leaders to have their back. 

 These feelings of power and the reciprocal trust in leadership in turn lead to proactive behaviours by front line salespeople, as they’re likely to take charge in continuously seeking ways to improve their day-to-day work practices that lead to organisational efficiency.

While a company-wide effort of making employees feel autonomous and trusted yields the greatest benefit in employee commitment, managers can start with their own team members.

Encouraging others to

  • share their unvarnished views on important issues,

  • delegating

  • and sharing leadership,

  • assigning managerial tasks,

  • communicating frequently,

  • and allowing for mistakes to serve as learning opportunities can all empower employees and develop them into independent thinkers who aren’t afraid to take risks and actively contribute in moving the organisation forward.

It isn’t necessary, or indeed possible, to elevate every member of the sales team  to a Leadership position.

But a good sales  manager can offer choices that lead to empowerment, no title required.
While we know that people instinctively crave higher status, M. Ena Inesi of London Business School discovered that agency is just as important.

She primed study participants to feel either powerful or powerless.

They then had to choose whether to shop at a nearby store with fewer options, or a store that was further away but which offered considerably more options. When participants felt powerless, they craved more choices. 

The participants who felt powerful, however, were content to have fewer choices.
“You can imagine a person at an organisation who’s in a low- level job,” Inesi said at the time.
“You can make that seemingly powerless person feel better about their job and their duties by giving them some choice, in the way they do the work or what project they work on.”
The dangers of Learned Helplessness

People need to believe they have a sense of control over their situation, particularly in times of change and uncertainty, or they may adopt what psychologist Martin Seligman at the University of  Pennsylvania termed “learned helplessness,” where they basically stop trying.

In a similar vein, Harvard psychology professor Ellen Langer conducted research on mindfulness and ‘choice’ and found that giving people choices over their environment actually extended life by years, according to her studies conducted among the elderly in nursing homes.

Tom Peters once said, “Leaders don’t create followers; they create more leaders.”

Giving Your employees real autonomy and helping them feel more powerful is not only your best chance to buck he trend of disengagement and apathy; it is at the heart of competitive strategy.

 Perhaps the good and the great at Davos this week would agree with not only the founder of the World Economic Forum but some wisdom from some two and a half thousand year ago
"A leader is best when people barely know (s)he exists, when their work is done, their aim fulfilled, the people will say: we did it ourselves." 
Lao Tzu    571 BCE

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Wednesday, 22 October 2014

Sales Talent Churn challenges posed by Defectors, Misfits and Remnants

Of all the sales management metrics that tell us about economic growth, the ones that we in selling know ( and often to our cost)  is talent churn.

 In London according to  recent issue of the London Evening Standard, it is predicted that 
40% of employees plan to move within next year.

Managers ( including sales managers) turn from corporate game keepers who guard and develop their company's  talent to one now of  poachers who may feel the need entice talent away from competitors.

More than half those leaving jobs in London then try to entice their colleagues to follow them and many choose to take them up on their offer.

40+ %  when asked when anyone had left their place of work and tried to ‘poach them’ to go and work in a new company  “Yes and I took them up!”

25% replied that they had been approached but declined

33% said they had never been approached

DEFECTORS

Research from Adecco reveals the reason for defections.

That the most common  reason for wanting to move is bad management.

 30% wanted to move because of poor management nearly twice as high as those saying they would leave primarily because of low pay.

Ironically the worst bosses are to be found in HR with nearly 40% saying that bad management was the strongest reason for moving jobs followed by arts and culture at 37%.
Poachers are most likely to work in:-

  • Professional services
  • HR
  • Sales
  • and Media


MISFITS

Not only is poor management the main cause of defections their exacerbate the problem by then replacing them with the wrong people.
70% of those polled say their firm made hires that were ‘clearly  a wrong fit for the organisation’

Legal professionals are far more likely to poach successfully. 40% in London have done so successfully. But 80% of legal professionals say that their firm has made bad hires. ( the average is 73% across London.


REMNANTS

If defectors and poor replacement hires were not enough of challenge to sales management , the task of sustaining team morale when key staff leave ( and possibly try to take colleagues with them) 24% of staff feeling ‘de-motivated’ when someone leaves.
40% say they are ‘disappointed’ when someone leaves
20% say they are ‘frustrated’ when someone leaves

And only one in seven admitted to being ‘happy’ to see certain people leave.

Half of Londoners in the Adecco study are also concerned about the increased workload with 25% saying they are worried that more people  will then leave ( and many of these will be poached)

54% of  Londoners believe their firms have a problem with retention   38% believe better management training is the number 1 solution


Ironically HR who you would think would be best at managing staff- has the  worst management   with 50% saying that there is a lack of management training for staff compared with 35% across the board.

Wednesday, 6 November 2013

10 personality characteristics of Key Sales Talent

There is much discussion among sales managers about what makes a successful salesperson.  

What is it that they have or possess that separates them from their adequate or under-achieving colleagues?

When hiring salespeople management tends to concentrate on two key criteria:


·         Outward appearance and mannerisms and,



·         Experience in the field, industry, market or in sales generally.



With the competitiveness of the market today (and this is not expected to become any easier, as talent is once again on the move according to the Halgoen /CIPD report last week  ) recruiting and keeping the best is a tough task for management. 

Management needs however to hire the best and not just anybody to fill the space, and thus time should be invested in obtaining the best from the marketplace.



So what are the traits of successful salespeople?  The analysis based on experience and research suggests the following:


·         Self worth:  Successful salespeople have a strong sense of their own self worth.  This is not arrogance but high self-esteem and confidence.  They thrive on success and are able to bounce back from failure/rejection.


·         Assertiveness:  Not to be confused with aggressiveness, this involves an ability to control and lead the sales process, to be confident in one-on-one discussions, presentations and negotiations.


·         Personable: The time tested adage of ‘People buy from people,’ is still relevant today.  Relationship building, the ‘Ambassador’ role is key for successful salespeople who are usually friendly, curious, talkative and interested in their clients.


·         Empathy:  The ability to be in the other (customer’s) person’s shoes.  If you are trying to sell to somebody you must be able to see from their perspective, not just to understand their needs but the reasons behind those needs.


·         Thinking outside the box:  The successful salesperson is always looking for ways to differentiate themselves.  They are looking for the new angle, the new approach, method, product or service to set themselves apart from their competitors.


·         Risk taking:  Closely allied to thinking outside the box is their attitude to risk.  The successful salesperson will try something different; will take risks if they believe the risks will help them to succeed.  As the selling environment rapidly changes so the successful salesperson responds by trying the new, doing something different and risking being wrong.


·         Conceptual selling:  This is all about the ability to sell ideas, thoughts and abstracts.  As selling becomes more complex it is important for success that salespeople can sell both the tangibles, (e.g. products) and the intangibles, (e.g. the services behind the product.)


·         Sense of urgency: It is about making things happen and happen now!  The successful salesperson reasons that if they don’t get it (the sales process) done then the competition will gain.


·         Sense of realism:  Successful salespeople have a realistic streak in them.  They don’t always trust the customer or others.  They question to be sure and are thorough in their approach.  They tend not to promise too much and deliver too little.


·         Competitiveness:  The best are competitive even if they are only competing against themselves.  They want to win and get that sale, order, new customer or key account.  They want success and work for it.


Not every salesperson will have all these characteristics but sales managers should use them to assess new recruits.  Additionally they should help you to find new salespeople from within other areas of your company.  People in other departments and positions demonstrating these characteristics are thus potential for your team.


Sales managers should also look at what industry specific characteristics they need and add them to their list.  The chances of recruiting successful salespeople for your company must improve if you seek to break the old formula of hiring using the two criteria mentioned at the start. 

The role of sales managers ‘increase profitable sales through other people’, and thus you are responsible for recruiting and retaining the right people to achieve success.

Sunday, 3 November 2013

The costs of losing Selling Talent

How many in your sales team are looking for a new job ?

The CIPD/Halogen Employee Outlook study of about 3,000 employees  published last week has tracked the following :

Talent once again on the move

% of Workers are looking for a new job

20% Spring 2012
21% Spring 2012
24% Autumn 2013   ( 24% in private and voluntary sectors, 23% in public sector)


Recruitment freeze - signs of thawing

% of Employees reporting their employers have a freeze on recruitment

29% in Winter 2012
28% in Spring 2013
25% in Autumn 2013.

These numbers signal a decline in fear around job security. It looks like talent is on the move again and sales managers need to keep a closer eye on retaining their key talent.

If monitoring their sales force progression and providing opportunities to discuss career development is not undertaken they could well risk losing some of their best salespeople

The  Halogen / CIPD study showed the intention to look for a new job increases with job dissatisfaction –

 62% of unsatisfied workers were looking for a job, compared to 10% of satisfied workers.


Importance of Exit interviews 

Even if many sales managers know the theoretical value of undertaking  an exit interview of salespeople who leave the company most don't have  the time to undertake it or perhaps even the courage to do it.

But the duty is undertaken to commercial advantage by the recruitment industry. The study by Finlay James Associates confirms that money is seldom the reason for a move only 13.% moved because of inadequate remuneration.

Their findings are in the chart below




Losing sales talent can be a costly affair

What would the costs be to your company of the following?

  • The cost of a  vacant territory and subsequent loss of sales opportunities  £,,,,,,,
  • The cost of your and  your senior sales additional staff’s coaching time £,,,,,
  • The cost of  reduced team morale £.....
  • The cost of damaged customer loyalty
  • Potential litigation costs – unfair dismissal claims, etc

    let alone damaged reputation to your organisation



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