Business leaders are quickly realizing that the workers of the Millennial generation are not very much like those that came before. There are about 80 million of them, born between 1980 and 1995, and they're rapidly taking over from the baby boomers. There are a lot of things for a boss to love about these younger workers. They are tech savvy, great at multi-tasking and resourceful. To them, the Internet has always been a thing and carrying a mobile device is as natural as breathing.
The use of Objectives and Key Results (OKRs) is growing among businesses of all sizes. The approach, which originated at Intel, has been embraced by Google, LinkedIn, Zynga and many more companies of note. OKRs are a simple way to track performance and align individual goals to company priorities. The objective is the overall goal and the key results are quantifiable indicators that will lead to achievement of the objective. While the approach is fairly straightforward, there can be roadblocks to adoption if leadership doesn’t carefully communicate and manage effectively.
According to the Bureau of Labor Statistics, nearly 2.5 million Americans quit their jobs each month. Some of the churn is unavoidable as people move, retire or change careers, but have a look at any, “Top Reasons People Leave Their Job,” list and you’ll notice that most of the reasons begin with the word “Management.” “Management expects one employee to do the work of three,” for example. Attracting and retaining top talent is one of your most important responsibilities. How you communicate and lead has an impact on retention throughout the organization. Here are six CEO best practices for retaining top talent.
Does a CEO have to master the art of selling? Yes, a CEO should consider sales to be an important skill set to have and to master. Continuing the discussion of CEO best practices, the next skill set that is vital to the CEO role is sales. As I focus on personal traits that a CEO/leader should have, the ability to sell and convince people of your product or service will ultimately drive the performance of a business and also help with gathering resources for the company.
"…that means that when I make a mistake, I have eight different people coming by to tell me about it. That's my only real motivation, not to be hassled, that and the fear of losing my job. But you know, Bob, that will only make someone work just hard enough not to get fired." - Peter Gibbons Office Space
When I look at most of the management tools in the marketplace that promise to enhance employee accountability, I'm amazed at how often the approach is punitive. It's interesting how much of the product focus seems to be trying to catch someone slacking at their desk or knowing who to blame when things go wrong. It's little wonder that the word "accountability" evokes images of visits to the principal's office; it's usually code for, "You really screwed up this time."
As Joel Trammel, the CEO of Khorus, and an accomplished entrepreneur, investor, director, blogger and author, noted in a February post, “Running private companies is tough enough without having to deal with a poorly functioning board.” In fact, the same can be said for any CEO dealing with any board in any company.
“Like a human being, a company has to have an internal communication mechanism, a ‘nervous system’, to coordinate its actions” - Bill Gates
What if you never felt pain? At first it sounds great. I twisted my ankle and it hurts right now. I wish it didn’t. But, pain plays an important role in preventing humans from hurting ourselves or ignoring serious medical conditions. In fact, as Bill Gates notes, the body is designed as a giant continuous feedback system. Your brain tells your hand to grab the handle of the pot. Your hand tells your bran, “Yikes, it’s hot!” Your brain tells your hand to let go. In fact there are a few people born without the ability to feel pain. The feedback loop is broken and they can sustain serious injuries.
The competition for top talent is fierce, so it is no wonder that more and more companies are adopting a, “Hire the best, not the closest,” philosophy. In fact, according to World at Work, almost one in five small businesses in the U.S., Canada and Australia are adopting mobile work styles, enabling people to work wherever they choose. Research by Citrix also reveals that 35% of global small businesses say they are under more pressure to increase mobile work opportunities. This might explain the 80% increase in people who telecommute at least half the time between 2006 and 20012, reported by GlobalWorkplaceAnalytics.com. In addition to people who work remotely as a regular practice, mobile technology has also led to an increase of people doing mobile work on an ad hoc basis or while traveling.