Tag Archives: succession

BALANCE AT WORK BLOG

New products from Harrison Assessments

hire for culture

We are thrilled to announce:

  • The Career Navigator
  • The Succession Planner

Dr Dan Harrison and his team are upgrading the Harrison Assessments HATS system this month to include these new modules.  There will also be updates to the questionnaire and the standard Job Success Formula library of over 6000 templates. Click here to download a summary of the changes: Harrison Assessments New Release Sept 2013

Here is a brief explanation of the new assessment products and talent management tools soon to be available in your HATS system at no extra charge:

CAREER NAVIGATOR

This is an interactive career system that has been added to the current Career Module.  This means that now when you send a questionnaire invitation to a client you have the option of linking their results to their own Career Navigator account.

The client can log into their Career Navigator account to run their own reports and view much more information about careers than previously available in HATS reports.

And you’ll notice that the reports have been updated to be more focused on career satisfaction with an additional 19 ‘interest’ and ‘employment preference’ traits.  HATS administrators will still be able to log into their clients accounts to see the results and run reports for coaching purposes.

The Career Navigator will make it much easier for career professionals, schools, universities, and employment organisations to give their customers access to the accuracy and vast amount of valuable employment information only found in the Career Module in HATS.

SUCCESSION PLANNER

The Succession Planner is an internal job succession tool for employees.  Companies can invite their employees to compare their work preferences (HA questionnaire) against any number of internal jobs included in the Succession Planning module.

Applications are linked to the recruitment campaign module which includes external applicants (if desired) and ensures a transparent, fair and performance based selection process.

The Succession Planner helps companies retain talented and committed employees and is a great resource for HR professionals.  It means employees have the benefit of applying for jobs they know they are already suited to, and may even consider a change in career direction with confidence.  It is also a valuable tool for company restructures and mergers.

For more information on what these changes mean for you, please contact us.  We look forward to answering your questions!

BALANCE AT WORK BLOG

Not everyone wants to learn, you know…

Have you ever tried training someone and felt like you were getting nowhere?

This was one of my early HR lessons: We can’t assume everyone wants to learn and develop their skills.

In some workplaces and some roles, you will find people who just want to get on with the job they were employed to do. They may even see training as an added imposition from the employer, rather than an opportunity to grow their skill set.

Sometimes, they will be learning in another area of life, perhaps a hobby, that is more fulfilling to them. Work is just the means to earn the money to fund what really matters. For them, work is not a way to grow. Work provides for their basic needs so they can grow in other areas.

If you value life-long learning it can be a challenge to see this perspective. Even more challenging if you are the manager of someone with this attitude – especially if you’ve hired a person for their cultural fit, confident that through training they will acquire the skills they need.

How does it happen?

Part of the difficulty is that this lack of motivation to learn is not always apparent or articulated. Imagine the salesperson who is not meeting budget but continues to believe they are doing all they can to bring in the business. When their manager suggests making changes, the salesperson pushes back, blaming the market, lack of support and other causes rather than reflecting on what they could learn that would improve their performance.

The salesperson above is likely to be quite self-accepting, feeling good about themselves. This is how we want a salesperson to be. On the other hand, the self-acceptance needs to be balanced with a recognition that they can still improve but developing further. If the desire to become better at what they do is absent, the result is a tendency to respond defensively to constructive feedback.

Have you tried to manage someone like this? 

Would it be useful for you to know why they act in this way?

We can help you find out – even before you hire someone – and prevent the frustration you feel. Contact us for more information.

 

BALANCE AT WORK BLOG

Succession: Your people plan

People are the key to a successful business succession plan, but do we always pay enough attention to the human side of this critical business process?

For example, planning for a transition period should include knowing in advance:

  • How well will you get on with your successor(s)?
  • What are their beliefs and attitudes around money?
  • How are they likely to treat your clients and your staff?
  • What will be their role in your business before you depart?
  • What are their strengths and how will these benefit them in your business?
  • Ultimately, would you trust them to run a business well without you?

If you find yourself in a succession planning phase without satisfactory answers to these questions, my advice would be to get the answers you want or don’t proceed. Going ahead regardless will invite unecessary stress into your life and limit the chances of your business surviving.

We help our clients work their way through the human factors.

You’ve heard the horror stories about business succession. Don’t add yours to the list!

BALANCE AT WORK BLOG

If I knew then what I know now…

Wouldn’t you love to go back to being 16 – when you knew it all?

Teenagers are a great reminder that we don’t – and can’t – know everything.  The best we can do is limit the extent and the risks of our ignorance.

One very rewarding aspect of our work is giving people information about themselves and those around them that allows them to manage risk.

Here are some cases where we are providing this knowledge and changing businesses:

1. A business owner developing a succession plan with prospective equity partners

What they now know:

  • Values, strengths and challenges of each person;
  • Similarities and differences in what motivates them; and
  • Potential areas of conflict.

2. A management team planning a restructure

What they now know:

  • Who is in the right job;
  • Who has the potential to fill a new role; and
  • Who should probably be moved on.

3. A practice manager developing to take on more of the business responsibilities

What he now knows:

  • His strengths that may be perceived as challenges by others;
  • How to manage time better; and
  • How to express himself in ways that will motivate others while feeling authentic.

4. A manager developing her team

What she now knows:

  • Effective ways to communicate with and inspire her team;
  • The balance and range of strengths on her team; and
  • Individual team members’ expectations.

5. A business owner who is ready to hire more staff

What he now knows:

  • The characteristics people need to be successful in the role(s);
  • What he definitely doesn’t want; and
  • How to objectively measure performance potential.

Every one of the situations above are very expensive if you get them wrong.  Doesn’t it make sense to find out as much as you can before you make that investment?

BALANCE AT WORK BLOG

Are you ‘success-oriented’?

What does it take to be successful in business?

Research published by The Guardian Life Small Business Research Institute surveyed the attitudes of 1100 small business owners (2-99 employs) in the US in May 2009.

What they found, according to the Institute’s director, Mark D. Wolf, was that “Success-oriented small business owners are a special breed of highly motivated, caring and curious individuals.  They effectively balance their personal and business goals, take advantage of others’ expertise and continually see to learn the best practices exhibited by peer companies.”

Here’s a summary, from the report, of the six dimensions that characterise success-oriented small businesses (emphasis added):

1. Collaborative

Success-oriented small business owners understand how to delegate effectively to
others within their business as well as build strong personal relationships with their
management team, employees, consultants, vendors and customers. They are more
committed “to creating opportunities for others.”

2. Self-fulfilled

Success-oriented small business owners place a high value on the personal fulfillment
and gratification that their companies provide them, relishing the self-determination and
respect that comes from being their own boss and being in control of their personal
income and long-term net worth. They are more desirous of “doing something for a
living that I love to do,” “being able to decide how much money I make” and “being able
to have the satisfaction of creating something of value.”

3. Future-focused

Planning for both the short- and long-term future are key traits that characterize
success-oriented small business owners. They are more focused on cash flow and more
likely to have “a well thought out plan to run our business for years into the future” as
well as “a well thought out plan to run our business day to day.”

4. Curious

Success-oriented small business owners are more open to learning how others run
their businesses. They actively seek best practice insights regarding management, business
innovation, prospecting and finding/motivating/retaining employees.

5. Tech-savvy

Technology is a key point of leverage for success-oriented small business owners. They
more intensely value their company’s website and are significantly more likely to “rely a
great deal on technology to help make our business more effective and more efficient.”

6. Action oriented

Finally, success-oriented small business owners are more proactive in taking initiative
to build their businesses. They are more committed to “taking the business to the next
level,” “differentiating ourselves from our competitors” and “having something to sell
when I’m ready to retire.” They also see adversity as “a kick in the rear to help move
you forward.” Not surprisingly, they are less concerned than other small business
owners about the overall state of the economy.

Success Tips:

1.  Most of these factors can be quantified using an objective measurement (eg.  Harrison Assessments), allowing you to clearly see your own – or a team member’s or successor’s – success orientation.

2.  Coaching is the most effective way for business owners to gain best practice insights through tapping into others’ expertise and experience.

3.  We have a copy of the full report for you to download here:  SME Success Orientation

Tell us what you think!

Leave a comment below or contact us .

BALANCE AT WORK BLOG

Top 5 critical skills in shortfall

The Kelly Skills at Work 2010 study uncovered a serious skills  shortage in the Banking and Finance Sector in the Asia Pacific region.

The five skills most in demand are also those considered most critical for mid to senior level managers across all industries.

Of all organisations surveyed,  88% said the shortage of staff with the right skills had a negative impact on their ability to serve clients.

As the FOFA reforms come into play for those readers giving financial advice, we will begin to see the real impact of this skill shortfall in terms of client attraction and retention.

If you’re an employer, you will find it increasingly difficult to identify and hire people with these critical skills.

The top 5 critical skills in shortage are:

1.  Communication including the critical abilities to

  • build long-term, successful, professional relationships with clients, in addition to selling a product or service and
  • communicate complex financial concepts to a non-finance audience in a simple and tactful way.

2.  Problem solving and decision making required for

  • complying with high levels of regulation and
  • dealing with environmental uncertainties.

3.  Strategic thinking to

  • assess multiple external factors and
  • develop and evaluate options.

4.  People Management with the ability to

  • lead, motivate and inspire and
  • ensure teams have the right balance of skills.

5.  Technical skills

  • relevant, up to date and transferrable knowledge and
  • an ability to deal with more sophisticated products and markets.

What has been your experience?  Have you suffered a skills shortage crisis?  Have you found effective ways of dealing with the skills shortage?  What are your plans for the future?  Please share your thoughts below.

 

 

BALANCE AT WORK BLOG

Banking on your reputation

If your chances of being hired or promoted – or winning a new client – depended 20% on your qualifications and 80% on your reputation, would you need to change your behaviour?

I’m sure for most readers, the answer is ‘no’ because you are already aware of how important your reputation is to your success.

In this post we’re going to look at some of the things, beyond honesty, that contribute to a good reputation.  If you’d like to know more about how to get more insights into a person’s reputation, read this post.

These are our top five factors contributing to a high personal approval rating:

1.  Valuing others for the relationships you have with them, not just for what you think they can do for you.

2.  Positive interactions and communication with peers, managers, suppliers, clients and competitors. 

3.  Congruence or acting in ways that are consistent with your values and the values of your organisation.  This is ‘walking the talk’.

4.  Delivery – doing what you said you’d do, even if it will cost you.  Corollary:  Don’t promise what you can’t deliver.

5.  Consistency in how you act in the full range of situations you encouner in life and business.  People like to extrapolate from how they’ve seen you behave in one instance to how you will approach other situations and if you’re not consistent you’ll cause confusion, which can be damaging for you.

As an employee, consultant or adviser, be aware of how all these factors contribute to your reputation and the reputation of your organisation.

As a manager, you could use these five factors as a checklist when assessing candidates for employment or promotion, as you go through your interviews, reference checking and staff development processes.  Lack of clarity on any one of these factors is a signal that you may need to do some more research before making your decision.

Remember “You can’t build your reputation on what you’re going to do.”  (Henry Ford)

BALANCE AT WORK BLOG

Could your team use a tune-up?

My car currently has a small niggling problem that’s not serious, but I know I should do something about it.  Perhaps you’ve had a similar experience, with a car, computer or other technology?

Have you ever had the same sort of nagging thoughts about your team at work?  Things are running smoothly, but you know they could probably be even better if you took the time to look under the bonnet and do some team maintenance.

You could be avoiding taking any action for one of the following reasons:

  • Time  “Sure, we’d like to do something, but we are always so busy.”
  • Uncertainty  “I really don’t know where to start.”
  • Fear “We are doing pretty well.  I don’t want to risk opening a can of worms.”
  • Scepticism  “We tried team building activities before.  It was fun but it didn’t really transfer back to the workplace.”

Sound familiar?  So why should you take time out to work on your team?

Teams that have been selected, trained and coached according to the strengths of the individual team members will always out-perform any teams composed and managed simply along functional lines. 

Teams outshine their competition when they –

  • Have shared goals and a focus on outcomes
  • Value cohesion, communication and collaboration
  • Recognise and share work according to their indiviual strengths

Any team building activity that contributes to better teamwork will focus on how these high performance team characteristics are applied in the workplace.  For example, read the case study of one team development process.

TIP:  Know how to get the best performance from your team with practical and meaningful team development.  Register for our webinar on 7 July at 12 noon (AEST).

BALANCE AT WORK BLOG

Why I Dropped Kathy and Picked Up Dan*

This article was prompted by questions from readers…

Many people within financial services are familiar with the Kolbe system of measuring ‘Action Modes’.  An individual’s Kolbe profile is a good tool for coaching and team development and I’ve used it in these ways, before I started using Harrison Assessments (HA).

There are similarities between the two approaches (online, accessible to any sized organisation, multiple uses) and I won’t explore the theory behind them in this article.  There are three differences that prompted my decision:

1. Level of detail

If I tell you my Kolbe is 8652 (Strategic Planner), experienced Kolbe users will know quite a lot about me.  It will be a generalisation, of course, as each number is a score out of 10 for each of the four different modes (Fact Find, Follow Through, Quick Start and Implementor).

I admit I can’t give you a quick summary, in numbers or words, of my HA profile, although you’ll find some of the details on our website.  This is because HA measures 156 different traits on a 1-10 scale, resulting in reports that are unique to the individual, rather than classifying them as an ‘Innovator’ or ‘Mediator’ for example.  The 156 traits are made up of personality, task preferences, interests, work environment preferences and motivations.

The reports themselves provide detailed interpretation for the end user.  For example, for a job candidate who has a low score on ‘Analyses Pitfalls’:  “Joe usually does not enjoy analysing the potential difficulties of plans or strategies and may sometimes neglect to do so.  Therefore, it would be best if he were to receive other input before making important strategic decisions.  Joe’s lack of enjoyment of analysing potential problems will probably have a somewhat negative impact on job satisfaction and/or performance.”  How good would it be to know this information before you appoint a new manager?

This is focussed, practical information you can use right away, either in a second interview or to coach the new employee.

2. Data utilisation

One set of data from one 20-30 minute online questionnaire is used to produce all the reports below, listed by application: 

  • Candidate Screening – Job Success Analysis, Group Screening Report
  • Candidate Interviewing and Selection – Interview Guide, How to Attract this Candidate, Paradox Graph and Narrative, Traits and Definitions Report, Summary and Keywords Report
  • Retention and Development – How to Manage, Develop and Retain, Development for Position, Development by Trait, Paradox Graph and Narrative
  • Team Development – Team Paradox Graph, Trait Export
  • Career Guidance and Development – Career Options, Career Development, Career Comparison

To see samples of these reports, please visit our website.

3. Customisability

Because HA is based on work performance research, there is the facility to compare employees and/or candidates to job templates for a specific role.  There are over 200 generic templates in the system and each one can be customised to the requirements of the job and the employer.  We’ve even adjusted templates to check for a good match with the manager.

For our clients in financial services, we have developed a set of templates which we then modify to their specific business requirements.  For example, it they’re hiring a paraplannner and want them to have significant client contact, we would ensure traits such as ‘Outgoing’ and ‘Diplomatic’ are included in the template.

This flexibility can also be applied to staff and team development.  If, for example, a broker is just not brining in the new business they were hire to achieve, we could assess their scores on a range of relevant traits, including traits such as ‘Persistent’ and ‘Optimistic’ and coach them to better performance by building on their areas of strength.  Of course – ideally – you would have known these scores before you hired them!

The detailed reports, as you can imagine, are invaluable for both team and individual coaching.  For teams, we are also able to plot all team members on the same chart, to give an easy to read overview of the team’s strengths and challenges.

The reason I chose to train and gain certification with Harrison Assessments:  So I can provide my clients with the best available information for people management decisions and coaching.

*Kathy Kolbe and Dan Harrison

BALANCE AT WORK BLOG

Overcoming ‘interview infatuation’

When I met Matthew Farrell, Principal of Five Pillars Financial Planning, he was in the process of selecting a new financial planner to support the growth of his business.

Matthew was impressed with a candidate but confided that one of the traps he’d fallen into in the past was loving someone at the interview, only to find they didn’t live up to expectations on the job.  This is a familiar scenario, especially when faced with a charming and enthusiastic interviewee.  

To ensure he didn’t make the same mistake this time, Matthew decided to use Harrison Assessments to determine the candidate’s suitability for the role.

1.  After the first meeting, we sent the candidate a ‘questionnaire invitation’ so that he could complete the online assessment overnight.
2.   We sent Matthew a draft job template for him to consider.
3.   Next morning, Matthew and I discussed the template and I made adjustments to the
template online.
4.   The candidate had completed the assessment so we were able to immediately run the
reports, comparing him to the customised template.
5.   Matthew and I discussed the reports and the candidate’s suitability straight away.

We asked Matthew to comment on his experience of using the Harrison Assessments:

“I was looking for an objective assessment tool that took away the temptation of me being swayed by the candidate’s pleasing personality and charm. I wanted to know if the candidate possessed the internal qualities required to perform in the position.

TIP:  Don’t let your heart rule your head!  Get some objective advice before you make decisions on the people in your business.


BALANCE AT WORK BLOG