You doled out extra vacation days to make up for paltry bonuses to your top performers. After the 401(k) match was cut, you passed out gift cards to remind your stars how much they mattered. In a tough economy, it's the little things, right?
Wrong. Perks and trinkets are nice, but they won't keep your best people when things improve. Some 27% of employees deemed "high potential" said they plan to leave within the year, according to a recent survey by the Corporate Executive Board. That rate of dissatisfaction is rising "precipitously" as the economy stabilizes, says Jean Martin, executive director of the CEB's Corporate Leadership Council, up from just 10% in 2006 and increasing at twice the rate of the general employee population.
That's the bad news. The good news is that perks aren't the only way to keep your high performers engaged. They want a mix of recognition and challenges that stretch them without completely stressing them out. Liz Wiseman, a former Oracle executive and author of the bestseller Multipliers, says money "never came up" when she interviewed 75 Fortune 500 managers about the leaders who motivated them most.
The CEB survey, which asked nearly 20,000 high-potential employees what drove them, found that feeling connected to corporate strategy was tops on their list. But many managers turned inward when the economy sank, giving fewer employees the chance to influence the company's direction.
Another way to get your stars involved is to turn them into headhunters. Many companies already do so through employee-referral programs, but they don't realize that there is an upside beyond bringing in new talent. Dave Ulrich, human resources consultant and University of Michigan professor, says such programs can actually boost loyalty for those doing the recruiting. "It sounds tautological," he says, "but when people behave as if they're committed, they become more committed."
"http://money.cnn.com/2010/10/22/pf/jobs/employee_retention.fortune/index.htm?cnn=yes&hpt=Sbin"
****HOMEWORK****
Hatfield- Come up with 2 essay questions for each chapter. TEST will be on Monday, November 1st.
Little- Wiley Plus assignments.
Lane- Chapter 7 Homework is due Monday, October 25 at 11 p.m.
Borland- Study notes and prepare for TEST on Monday, November 1st.
Monday, October 25, 2010
Sunday, October 17, 2010
Turning Conflict into Cooperation
Of course, the desire to avoid confrontation is understandable. Discord makes us uncomfortable. In a situation like the one described above, many of us would choose to tell a few close and trusted allies or just stew in our own juices as a way to deal with our feelings. It's the path of least resistance, and ultimately it's the wrong choice. Delaying resolution means depriving yourself of the opportunities that can arise from differences of opinion. Here's how to turn conflict into a constructive dynamic.
Stop ignoring conflict; it won't make it go away. Dodging misunderstandings, real or imagined, doesn't solve the problem and in fact can exacerbate tensions. This holds true whether they have been simmering for some time or have just erupted. Although the temptation is to avoid the issue while the two parties ignore each other, a better solution is to bring the combatants together for a face-to-face discussion.
Act decisively to improve the outcome. Putting off a discussion once a conflict has surfaced diminishes the possibilities for greater understanding.
Make the path to resolution open and honest. Solicit input from all parties involved and be up front about the end result you have in mind. While progress is under way, keep everyone in the loop. When people are in roles that require close collaboration, communication is the lifeblood of mutual respect.
Use descriptive language rather than evaluative. Words that stem from critical analysis of a problem can sound judgmental and accusatory, putting everyone on the defensive. Don't start with such statements as, "I've been told you've got issues with your manager. She says your actions are hurting morale." Being descriptive and dispassionate can illuminate the events better and avoid hurt feelings: "Your manager mentioned that you've had challenges lately that might be impeding your career. Can you tell me more about that? I bet if we work together, we'll find an approach that will improve the situation." It's always better to focus on the problem and its effect on the workplace and then work together to find the solution. This process is easier when you remove all judgmental and punitive language from the conversation.
Make the process a team-building opportunity. Solving tensions can refine the department's interpersonal relationships. When confronting discord, maintain a team-oriented tone rather than a personal one. Ask "how can we solve this together?" rather than stating "because of you there is a problem." Cultivating camaraderie with actions that say "we're all in this together" works wonders and elevates your own standing as a leader.
Keep the upside in mind. Effective conflict resolution creates "success momentum." Personality clashes, office politics, petty rivalries, and other negative, energy-sapping distractions are potholes on the road between your organization and the finish line. Left unchecked, any of these factors can drag down the performance of even the most professional and capable people.
Focusing on the best characteristics of ourselves and those around us is easy. It's the ability to roll up our sleeves and dig into problems that separates top performers from everyone else. Managers who successfully deal with conflicts in their organizations will calm unrest, reduce turnover, motivate employees, and accelerate growth.
http://www.businessweek.com/managing/content/oct2010/ca20101014_882756.htm
Hatfield- Read chapters for section III.
Borland- Study material. Test will be Monday, October 25th.
Little- Wiley Plus (2 assignments)
Lane- Study for test on Thursday, October 21st.
Stop ignoring conflict; it won't make it go away. Dodging misunderstandings, real or imagined, doesn't solve the problem and in fact can exacerbate tensions. This holds true whether they have been simmering for some time or have just erupted. Although the temptation is to avoid the issue while the two parties ignore each other, a better solution is to bring the combatants together for a face-to-face discussion.
Act decisively to improve the outcome. Putting off a discussion once a conflict has surfaced diminishes the possibilities for greater understanding.
Make the path to resolution open and honest. Solicit input from all parties involved and be up front about the end result you have in mind. While progress is under way, keep everyone in the loop. When people are in roles that require close collaboration, communication is the lifeblood of mutual respect.
Use descriptive language rather than evaluative. Words that stem from critical analysis of a problem can sound judgmental and accusatory, putting everyone on the defensive. Don't start with such statements as, "I've been told you've got issues with your manager. She says your actions are hurting morale." Being descriptive and dispassionate can illuminate the events better and avoid hurt feelings: "Your manager mentioned that you've had challenges lately that might be impeding your career. Can you tell me more about that? I bet if we work together, we'll find an approach that will improve the situation." It's always better to focus on the problem and its effect on the workplace and then work together to find the solution. This process is easier when you remove all judgmental and punitive language from the conversation.
Make the process a team-building opportunity. Solving tensions can refine the department's interpersonal relationships. When confronting discord, maintain a team-oriented tone rather than a personal one. Ask "how can we solve this together?" rather than stating "because of you there is a problem." Cultivating camaraderie with actions that say "we're all in this together" works wonders and elevates your own standing as a leader.
Keep the upside in mind. Effective conflict resolution creates "success momentum." Personality clashes, office politics, petty rivalries, and other negative, energy-sapping distractions are potholes on the road between your organization and the finish line. Left unchecked, any of these factors can drag down the performance of even the most professional and capable people.
Focusing on the best characteristics of ourselves and those around us is easy. It's the ability to roll up our sleeves and dig into problems that separates top performers from everyone else. Managers who successfully deal with conflicts in their organizations will calm unrest, reduce turnover, motivate employees, and accelerate growth.
http://www.businessweek.com/managing/content/oct2010/ca20101014_882756.htm
Hatfield- Read chapters for section III.
Borland- Study material. Test will be Monday, October 25th.
Little- Wiley Plus (2 assignments)
Lane- Study for test on Thursday, October 21st.
Sunday, October 10, 2010
5 tips for 1st time managers
1. Learn the Business
You'll feel tempted to overhaul and start fresh. But there's so much you don't know. Rather than risk moving too fast too soon, spend your first months observing, listening, and learning. Keep a log of everything you question. To know what's critical and what's clutter, lean on those with institutional knowledge and memory. In short, be humble and grow into the job. Take small steps so your employees have some continuity. You'll have time to leave your fingerprints as you mature.2. Meet with Your People Individually
Don't judge the holdovers, at least not initially. Instead, give everyone a clean slate, no matter what you've heard. Remember, all your reports will be on their best behavior initially. You represent a fresh start; they want to be seen in the best light. So give them plenty of one-on-one time early. Learn about their history and aspirations. Watch them in action to see who'll tell the truth, help, or inevitably disappoint. Most important, get buy-in from your stars and respected veterans. Without their support, few others will follow.3. Set Objectives
You have their attention: Capitalize on it. Set ground rules and expectations early. Outline your short-term and long-term vision for the department. Identify what's mission critical, why, and how everyone's roles contribute to the end result. Set goals, but keep them relatively short, unambiguous, and achievable. Establish time lines and benchmarks to measure progress. Help them understand they're working toward something larger, and how their careers, lives, and world will profit from their labor.4. Make a Memorable Gesture
Want to make an impact in your first weeks? Strip everything down and simplify. That's right: Take them back to basics. Determine what's holding them back, such as a bad apple or redundant paperwork. Take a dramatic action to send the message that times have changed. Or build goodwill by skewering a sacred cow or making a symbolic giveback. Whether you're looking to drive service, productivity, or profitability, focus your team on that area and remove any obstacles or excuses for delivering it.5. Have a Department Plan
An idea is doomed to failure without a plan behind it. After meeting with stakeholders, draft three- and six-month plans. Set targets, replete with starting and ending points (and the steps in between). Hold yourself accountable by evaluating progress weekly and making adjustments as circumstances evolve. At minimum, your job is to get your team members on the same page and level, and foster an environment where they can excel. Without a plan and a dedication to executing it, they will inevitably drift, gradually losing sight of their potential and value.***HOMEWORK***
Dr. Hatfield- Start reading material for new section.
Dr. Borland- Study material
Dr. Little- Case study due Tuesday, October 12th. TEST October 12th (Chapters 3,5,6)
Dr. Lane- Go over material to become familiar
Saturday, October 2, 2010
Getting Over Communication Fears
Fear isn't always a bad thing; sometimes it helps to remind us that we are humans. But, we have to become aware of our fears that might stop us from communicating with other people. Jerry Seinfeld once said, "According to most studies, people's number one fear is public speaking. Number two is death. Death is number two. Does that sound right? This means to the average person, if you go to a funeral, you're better off in the casket than doing the eulogy."
When it comes to presentations, there are several ways you can practice to help you overcome your fear. One way is to make a setting that will simulate where you have to give your speech, and practice there. Another strategy that works for some people is practicing your speech in front of a mirror. Doing this will let you know how much you are making eye contact with the audience. Another way you can practice eye contact is give the presentation to some of your friends. Ask them to notice how often you are making eye contact with them so you can know where to improve. Make sure that you visualize your success. This basically means that before you give your speech, you need to imagine how it is going to go. Doing this well help prepare you, and also help you get over your fear. If you have it in your mind that you are going to do well on the speech before you give it, it will actually make you feel less tense.
Another fear a lot of people have is communicating to people one on one. A good way to to let another person know you are wanting to talk to them is by leaving them a voicemail. Just call them and say, "when you arrive at work let's find some time to chat face-to-face; I need your input on a touchy matter." Doing this will let them know that you are a little uneasy about the topic and it will hopefully make them easier to talk to. Once you've left a voicemail, you have now made it public knowledge to the other person that you need to talk to them. Some things you should do to make the conversation go well are;
Talk at a slow-to-normal pace, in short sentences.
Use a pleasant tone
Use simple sentence structure (subject-verb-object) and high-frequency words
Be an active listener
Since we are all getting our MBA's, there is a very good chance you are going to have to make a speech or give a presentation at your company. Now is the time to start practicing good communication skills and trying to coach yourself to be fearless about communicating.
"The only thing we have to fear is fear itself."-FDR
"Do one thing every day that scares you." - FDR's wife
When it comes to presentations, there are several ways you can practice to help you overcome your fear. One way is to make a setting that will simulate where you have to give your speech, and practice there. Another strategy that works for some people is practicing your speech in front of a mirror. Doing this will let you know how much you are making eye contact with the audience. Another way you can practice eye contact is give the presentation to some of your friends. Ask them to notice how often you are making eye contact with them so you can know where to improve. Make sure that you visualize your success. This basically means that before you give your speech, you need to imagine how it is going to go. Doing this well help prepare you, and also help you get over your fear. If you have it in your mind that you are going to do well on the speech before you give it, it will actually make you feel less tense.
Another fear a lot of people have is communicating to people one on one. A good way to to let another person know you are wanting to talk to them is by leaving them a voicemail. Just call them and say, "when you arrive at work let's find some time to chat face-to-face; I need your input on a touchy matter." Doing this will let them know that you are a little uneasy about the topic and it will hopefully make them easier to talk to. Once you've left a voicemail, you have now made it public knowledge to the other person that you need to talk to them. Some things you should do to make the conversation go well are;
Since we are all getting our MBA's, there is a very good chance you are going to have to make a speech or give a presentation at your company. Now is the time to start practicing good communication skills and trying to coach yourself to be fearless about communicating.
"The only thing we have to fear is fear itself."-FDR
"Do one thing every day that scares you." - FDR's wife
Homework Assignments
Dr. Lane- Update your blog, Pick a WIKI topic to contribute to on blackboard, work on assignment as group to turn in on Monday, October 4.
Dr. Hatfield- Work on group assignment. It has to be turned in 30 minutes befor class starts on Monday, October 4.
Dr. Borland- Go over notes and make sure you are up to par on everything.
Dr. Little- Wiley Plus, Case study as group is due on Tuesday, Ocober 5.
Dr. Hatfield- Work on group assignment. It has to be turned in 30 minutes befor class starts on Monday, October 4.
Dr. Borland- Go over notes and make sure you are up to par on everything.
Dr. Little- Wiley Plus, Case study as group is due on Tuesday, Ocober 5.
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