Posted by Kevin Logterman on Wed, Aug 25, 2010 @ 10:04 AM
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Downturns in the economy have proven to be terrific times for companies to distance themselves from the competition. Whether it’s the purchase of a car or a multi-million dollar machine, purchasing decisions are made in a much more deliberate way. Mistakes can’t be made and value must be a certainty.
Companies that can differentiate and provide a more compelling value come out of an economic downturn with much greater momentum and market share. Examples of companies emerging from economic downturns include the likes of GE, Microsoft, Disney and HP. They created a compelling value and, despite tough economic times, grew to be industry leaders.
While most companies cut back and/or become conservative in their marketing, a small few see it as the best opportunity to gain market share by creating a compelling image and value that sets them apart from the others.
What do you think of when you hear or see the word family? Stability, Integrity, Longevity. Well, SC Johnson has been reminding all of us, especially lately, that they’re a family business. What a great brand builder for a business that’s already done a pretty good job already.
Perhaps now is a great time to market your family business in a way to conjures images of stability, longevity and integrity. Wouldn’t you agree it’s what your customers are looking for as they make their purchasing decisions.
Please share some of the ways you and your family business have leveraged the qualities of a family business to your customers and marketplace.
Posted by Kevin Logterman on Mon, Aug 16, 2010 @ 11:42 AM
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In a recent golf outing, I ran into my old high-school cross-country coach. Meeting him reminded me of the fun times in school, of being part of a team that consistently finished in the top 3 in the state and of finding a passion I still have for running.
Our team had some great runners, but the guy who really led our team was Paul Voss. Paul was a 3-time state champ, a natural runner with all the talent in the world. What set him apart was how he led our team to success.
Paul knew that he could outrun anyone in the state and really didn’t need to worry about anything other than getting himself ready and in shape to win the state championship. But Paul, aware that cross-country was a team sport, did something that wasn’t the best for him but helped the rest of us raise our level and make us a great team.
In at least one practice every week, Paul would take one of the other runners on the varsity team and run with them. He wouldn’t run at their pace but pushed us to run at his pace. Not the easiest of practices but, by his example and motivation, Paul showed us that we had more speed and endurance than we imagined. He raised our confidence and, in so doing, our abilities. The end result was a stronger and successful team.
I see the same qualities in exceptional business leaders. Clearly, most CEOs and Presidents are talented professionals, have proven to be top performers and can do a lot on their own. Where the noteworthy leaders set themselves apart is in their inclusion of others, involving their team and others in the organization, making others better.
During a recent kick-off meeting with a new client, I was reminded of this level of leadership. The CEO of our client company went to great lengths to involve his entire senior team, direct reports and others in the search process. He could have easily answered our questions himself, but wanted others to provide feedback, share their insights and challenge his thoughts for what was needed in the qualities of the position we were retained to fill. It also gave each member a chance to learn from others involved in the process.
How are you involving your employees in the decision-making process? What are you doing to make others around you better? Are you spending your time trying to get things done through others and, in the process, making them better?
Posted by Kevin Logterman on Thu, Aug 05, 2010 @ 11:02 AM
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With the advent of LinkedIn, Facebook and other social networking sites, more and more people are connecting and networking at a feverish pace. I’m a guilty party, building my direct contacts on LinkedIn to close to 800 people. I’ve been asking myself, lately, how much benefit can one get from connecting with 800 people and how much attention will I get from that large a group.
I’ve had the opportunity to speak with Bob Beaudine, author of The Power Of Who, a best-selling book for close to a year. Bob’s book is all about networking, but in a very different way. Bob’s book focuses on one major principle, that you already know everyone you need to know (he calls it your WHO). The idea is that your Who (your friends, family and/or workmates) all have contacts of their own. By focusing on those close to you and sharing with them your dreams and ambitions, they can help you connect the dots and achieve your dreams.
Bob is a recruiter himself, becoming one of the most well-known headhunters in sports (college coaches, athletic directors, etc…). His concept makes a lot of sense and turns the tables on the typical approach to networking. I get calls and emails every day from professionals who find themselves in the job market. When asked how they’re conducting their search, so many tell me that they’ve sent out hundreds of letters, email and calls but haven’t found anything yet. I’ve begun to ask them if they’ve talked to their brother, their neighbor, the guys they ride bike with every week and, no surprise, am told they didn’t think those people could help them.
The question to ask yourself if you or someone you know is in this situation is this, “what are the chances of someone who doesn’t know you or has ever met you, can help you versus those around you who do and know your strengths, interests and desires?”
The answer is quite clear. Pick up the book, The Power Of Who. It will change the way you think about networking.
Posted by Sarah Barnes on Tue, Jul 27, 2010 @ 02:50 PM
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I’ve just completed an article on the advantages of placing outside members on family boards. The article focuses on (3) primary reasons:
- Outside members serve as an impartial sounding board for leaders
- Outside members bring specific expertise and experience that can help the business immeasurably
- Outside members allow the family to focus on the family
To view the article, please click here.
There are three people I want to thank for their time and insight. Joe Schmeider of Family Business Consulting Group, Charles Colman of The Colman Group and Jan Acker of Trienda offered great insight into their experience and education on this topic.
I’d appreciate your thoughts and comments and hope you find the trend article informative and helpful.
Posted by Kevin Logterman on Wed, Jul 07, 2010 @ 03:30 PM
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I was interviewing an internal stakeholder for an ongoing Vice President Business Development search. This particular individual, Tom, had joined the company just 9 months earlier, in a rather unique but compelling way and in a way a top talent utilizes.
Tom was at a crossroads with his old firm, a competitor to the firm he’s with today. With no non-competes to be concerned with, Tom made a list of companies where his skills and experience would bring value. He found contact information for the company’s Presidents or CEO’s, crafted a script for what he was going to say and picked up the phone.
During our conversation, Tom explained that within a matter of weeks he had meetings with many on his list and, following a series of meetings, had an offer from my client. Today, he’s doing well, is a great fit with the organization and seen as a high potential within the firm.
The take away from this is that exceptional talent isn’t going to wait for someone to call them. They’re likely to make a move on their time and very likely to tap into their network and/or create the appropriate network to explore opportunities.
I should mention that the recipient of Tom’s call, the President and someone I’ve known for many years, is a natural born marketer, always curious and intrigued with new ideas and people. Had he not been in need of someone like Tom, he likely would have developed an ongoing relationship with him and helped him find the right opportunity.
As a professional, you can learn from Tom. More likely, as someone who makes people decisions, there’s much to be learned from the President of the company that took Tom’s call. Always be networking, always be looking to make connections. You’re likely to help someone and run the chance of helping yourself, too.
Posted by Kevin Logterman on Mon, Jul 05, 2010 @ 03:21 PM
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When our search team is making calls to prospective candidates, there are two kinds of talent returning our calls. The first is the individual lacking the motivation and discipline to do a great job where they are right now, looking for a way out or aware that management may soon help them work their way out (ie, outplacement). During their free time (and likely during their working hours), they’re surfing the jobsites for their next position. This kind of talent is often times too receptive to our calls and will typically oversell themselves, thereby tipping us to their less-than-stellar level of talent.
The other is the talented individual who is doing a terrific job, admired by all and seen as a future star. You may be asking yourself why this person would return the call of a recruiter. Well, what’s missing in this description is the fact that this superstar is frustrated by a manager who isn’t giving them clear direction and feedback, not providing encouragement and, overall, believes this superstar should just be left alone for fear any kind of management will just get in their way of doing the great job they’re doing.
Ever watch the Kentucky Derby or a similar race? You see these beautiful horses, a combination of gracefulness and power, born and bred to run and win races. Sitting atop is a jockey, ready to guide and direct the horse to victory, a whip in hand just in case the horse needs some encouragement or direction. Without the jockey and his management, encouragement and direction, the horse is likely to lose focus, become frustrated or run so hard from the start it exhausts itself before the find kick.
Not unlike a thoroughbred horse, talent wants to race and is born to win. Every once in awhile, talent needs some direction, feedback and, yes, a crack of the whip. What you may not realize is that talent WANTS direction, feedback and a crack of the whip. Your average performers don’t, for fear you’ll find them to lack the makings of being a superstar. Superstar talent knows its good and isn’t afraid to be challenged once in awhile. Without it, they’ll look for someone who’ll help them become the best they know they can be.
Withhold good management from your superstar talent and don’t be surprised if/when they walk in your door to tell you they’re leaving to work with another organization and manager. If that happens, don’t blame the recruiter.
Posted by Kevin Logterman on Mon, Jun 28, 2010 @ 01:05 PM
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If I had a dollar for every time I’ve heard, “Our people are our most important asset”, you wouldn’t be reading this article and I’d be teeing off at Pebble Beach.
A May 25th article in the Wall Street Journal (http://bit.ly/c3Jgla) cited a Bureau of Labor Statistics report that, in February, the number of employees voluntarily leaving their jobs surpassed the number being fired or discharged for the first time since October 2008 and that, before February, the BLS had recorded more layoffs than resignations for 15 straight months.
Couple this report with a recent poll conducted by Right Management at the end of 2009 showing 60% of workers saying they intended to leave their jobs when the market improved and you can see the issues many companies may face if these (2) reports come true.
The WSJ article cites two reasons for this trend; the recession did not create opportunities for talent to advance their careers and many chose to stay where they were versus risk themselves by making a move.
The other reason, and one I’ve heard often in the past 12 months, has to do with the effect of heavy cost cutting and downsizing and the burden it placed on those remaining. Recently, I interviewed an exceptional Human Resource candidate who is dissatisfied and burning out as a result of her company making cuts in her department and asking this person to basically perform the duties for 3 other s. As talented and hard-working as this person is, she just can’t maintain her current pace and, most importantly, perform at a high level and get things done.
If, in fact, talent is your most important asset, are you protecting it from the outside elements and insuring its value for the future?
Posted by Sarah Barnes on Fri, Jun 11, 2010 @ 03:08 PM
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Welcome to my blog on all things "talent management". We are in the midst of a whirlwind economy and the importance of identifying, attracting, and retaining your top talent is crucial to the longevity of your company. I call these three the "Golden Trifecta".
My blog will be focused on helping leaders within family business understand best practices as well as understanding issues from the candidates' perspective. Also, I'll be sharing with you how companies can use some of the techniques and insights that search firms, like Cook Associates Executive Search, use to identify and attract top stars.
Please join the conversation and post your thoughts. You can also contact me via email at klogterman@cookassociates.com.
Best,
Kevin Logterman