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Develop Your High Potentials into Results-Driven Leaders

High potentials usually have good ideas, but what transforms a high potential into a genuine leader is the capacity to move agendas and get results. Ideas must be implemented. Samuel Bacharach believes that leadership is about “executing” and getting things done. Leadership need not be driven by charisma or personality, but by the exercise of specific microskills that allow leaders to move an agenda through an organization.

In this world of mergers and acquisitions, turf and uncertainty, in which the solution mindset is replacing the product mindset, your high potentials need to have the political skills to mobilize groups and the managerial skills to sustain momentum.

This webinar will discuss some of the specifics of these pragmatic skills and elaborate on how you can implement a program to help high potentials within your organization develop these skills.

Wednesday, March 12, 2014 12:00 PM – 1:00 PM EST

Samuel Bacharach is the McKelvey-Grant Professor in the Department of Organizational Behavior at Cornell University (ILR). He is also the co-founder of the Bacharach Leadership Group (BLG), an organization which specializes in leadership development programs with an emphasis on microskills of change, innovation, execution, negotiation and coaching.

Sam writes a weekly column for Inc.com, focusing on issues of pragmatic leadership, and has published over 100 academic articles and over 20 books. He is the author of Get Them on Your Side, Keep Them on Your Side and the forthcoming volume, Moving Your Agenda: Leading for Innovation and Change.

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Insightful Big Data Conversations

Many executives have read the articles touting that 90% of all data has been created in the past several years. While this news is exciting for data junkies like me, I think it opens the door to a new set of conversations executives and CEOs must have as Big Data and analytics become increasingly accessible and abundant. There are two conversations executives need to have to ensure they are on the right path toward data insight rather than data overload.

“Can we use Big Data to help drive better decision making?”  

According to McKinsey & Company, the productivity and profitability of firms that use Big Data and analytics is 5-6% higher than those of peer firms. However, the best analytics dashboard in the world means nothing if frontline employees do not use it to make informed decisions. It’s important to assess current skills, culture, and decision-making processes while planning any Big Data strategy.

“What data do we have and what data do we need?” 

Many executives mistakenly think the data they have in-house is all they will need. In most cases, data from outside sources add contextual insights that are simply nonexistent otherwise. The focus should be on the quality and relevance of each data point to address business challenges.

While Big Data and analytics can provide a lasting competitive advantage, the most important aspect of any Big Data and analytics initiative rests in the insights gleaned through the data. Once you have the insights, you can focus your attention on making those insights actionable.

 

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Engagement is the #1 KPI

Traditional KPIs—or Key Performance Indicators—include things such as new customers, new subscribers, turnover rate and so on. However, how your community is engaging with your online marketing content—opening emails, commenting on blog posts, downloading eBooks, registering for webinars—is an important factor in how successful your overall marketing program is. And a successful marketing program often leads to companies exceeding their KPIs!

While engagement may seem like a “fuzzy” marketing metric, it’s actually something that can be measured and tracked – just like a like, a social share, or an email click-through. It’s time to think about engagement as another KPI!

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What is Old HR Tech Costing Your Company?

For decades, HR spreadsheets were really the only option for managing employee data. Only lately have companies (especially smaller companies) had options for managing HR data. Because technology allows you to keep employees states—even countries—away, you should also use the latest technology to manage your employee information accurately and efficiently. If you are still using spreadsheets to track employee data, you need to ask yourself—why?

Why to Get Out of HR Spreadsheets

HR spreadsheets have been holding companies back for years. Because on-premise HR solutions were so bulky and expensive, it left small to medium companies to fend for themselves with only their flimsy spreadsheets. Here are five reasons spreadsheets don’t cut it anymore:

  1. Spreadsheets waste time. HR is stuck spending up to 80 percent of its time trying to update many scattered spreadsheets with the same information.
  2. Spreadsheets are inaccurate. Studies have shown that over 90 percent of company spreadsheets have significant errors! If HR provides inaccurate data, the whole company suffers from non-compliance and possibly costly litigation.
  3. Spreadsheets can’t report. Trying to report using data from many spreadsheets can take hours or even days! By that time, information could already be outdated.
  4. Spreadsheets lack security. HR has to store lots of super sensitive information, like social security numbers, addresses and bank account numbers. Fifty percent of identity theft occurs because employee records weren’t protected.
  5. Spreadsheets aren’t universal. There’s no standard to entering data into spreadsheets. With all the different ways to set up formulas and tabs, it gets complicated fast!

When to Get Out of HR Spreadsheets

Just because HR spreadsheets have done a “good enough” job isn’t reason enough to keep doing HR with inefficient, time-wasting spreadsheets. For true growth and productivity, your HR process needs to reflect that by allowing an innovative and agile solution to manage employee data.

HR software allows you to keep all your employee data in a single, secure database that’s accessible from anywhere you have an Internet connection and is always up-to-date. Reports are created in seconds, rather than hours, because data is right there. It’s protected with layers of encryption and security measures. HR software simplifies most of the day-to-day HR functions, like automating PTO, managing training and tracking benefits. It’s time to throw out that old HR technology and gives HR hours back into their days to focus on improved hiring, training programs and turning employees into tomorrow’s leaders.

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Get Proactive About Customer Success

As more and more companies have embraced the recurring revenue business model, it has become easier for customers to try new products and services (sales), and conversely, just as easy for them to leave if they aren’t realizing value (churn). This new reality has made way for the Customer Success movement—a renewed focus on driving customer lifetime value by monitoring health factors such as product usage, sales and billing data, survey responses and others. As the economic climate heats up, businesses are quickly realizing that in order to be successful, they must ensure that their customers are realizing success from the use of their product. Otherwise their bottom-line is at risk.

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Prediction for 2014: The Internet of Things

Recurring revenue is highly disruptive and rapidly changed the face of business in 2013. Adobe and Audi are among the big names that have jumped onto the subscription model, and we’re sure there are more to come. What’s next for 2014? A logical partner to the subscription model which promises to grow by millions of data points each day –– the Internet of Things.

The Internet of Things

Customer preference and usage data grow at a near alarming rate and companies are struggling to catch up. So what is it? And how do you prepare your organization for it? McKinsey & Company:

More objects are becoming embedded with sensors and gaining the ability to communicate. The resulting information networks promise to create new business models, improve business processes, and reduce costs and risks.

Cisco’s chief futurist Dave Evans published an infographic to explain the increase in “things” connected to the Internet.

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Maximize Social Media ROI with Strategic Planning

If you feel challenged to measure ROI of social media, you are not alone. But you can measure ROI in social media. Gone are the days of faith-based investment. In the year 2014, social media have been around long enough for us to know how they create value, and to estimate how much value they could likely create for a brand. The value levers are known, and the likely costs are known.

If you are interested in learning how to improve your ability to estimate ROI from social media, or how to build a business case for social business transformation, please join me in a webinar with eCornell on January 7 1PM EST, where you will discover how to:

  • Better understand and present the business case for creating a social media plan that delivers targeted, organization-wide results
  • Use a proven framework for implementing your social media plan and put the right infrastructure in place.
  • Increase social media ROI for brands of any size.

For those unable to attend, here’s the archived video of the webinar.

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Prediction for 2014: The Subscription Economy

After sitting down with some of the industry’s top executives at Dreamforce ’13 in San Francisco, it became pretty clear that some big changes are on the horizon for 2014. One that most agreed will play a major part in the coming year is the Subscription Economy, or the Recurring Revenue model. Zuora CEO Tien Tzuo defines this growing trend and shares a few examples that you may be using right now.

In the last 10 years, there’s been a dramatic shift in the way both consumers and companies want to do business. Today, people would rather subscribe to services than to buy products. It’s happening everywhere. And it will have a dramatic effect on your business. Source: Zuora

Everything is Going Subscription Based

Aria CEO Tom Dibble has seen a massive shift outside of the technology industry for early adopters of the Subscription Economy, or Recurring Revenue model. It’s no longer just apps or Amazon Subscribe and Save –– even old school giants like Ingersoll Rand are jumping in too. Remember those combination locks for your locker? Now you can subscribe to a digital security system for your home or office that can be controlled remotely via mobile devices.

 

Keep an eye out in the coming days for our second major prediction for 2014: The Internet of Things.

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Our Favorite Reads of the Week: Alchemy, Bad Brainstorming, & 15% Passion Time

Too much content, too little time? No worries, I’ve gathered some of the latest and greatest resources from industry top performers. This week, everyone is talking about innovation and creativity and I found some gems from Forbes, Minnesota Public Radio, VentureBeat, SocialFresh, and more.

Seeking a Chief Innovation Officer or an Alchemist?

“The chief innovation officer is among the fastest growing new senior titles in the US corporate marketplace…The relative newness of the CINO means at least two things: it’s difficult to know what a great one looks like and behaves like, and there are few CINOs in the marketplace to recruit to your organization.” Luis Solis explains the alchemy and anatomy of a Chief Innovation Officer.

Build Teams for Creativity

Sam Bacharach, director of the Cornell Institute for Workplace Studies, explains how leaders can encourage both outrageous ideas and practical follow-through. It’s up to the leader to build teams for creativity, balance that team for productivity, and know when to let them go wild and when to reign them in.

Brainstorming, You’re Holding It Wrong.

“A creative company culture is powerful. And there is nothing wrong with trying to be more creative. But creativity cannot and will never be built into a company in a single meeting, as we so often demand.” Founder and CEO of Social Fresh, Jason Keath diagnoses the issues of corporate brainstorming and offers a few tips to save it.

What makes a company innovative?

What makes 3M one of the most innovative companies in the world for the third year in a row? Minnesota Public Radio’s Kerri Miller sits down with Professor Rosabeth Moss Kanter, chair at Harvard Business School and director of the Advanced Leadership Initiative at Harvard University to discuss what makes a company truly innovative. Many principles discussed also appeared in our article on Google’s 9 Principles for Innovation, such as giving employees 15-20% of their time to work on projects they are passionate about.

The content you read shapes how you lead: Top 10 leadership themes

“You are what you eat.” But you also lead how you think.” Forbes contributor Glenn Llopis shares ten themes that leaders are consuming and what brings them back to it again and again.

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3 Ways To Win For the Social CEO

Social media for CEOs is all the buzz for employee engagement and was a hot topic at Salesforce’s Dreamforce 2013 conference in San Francisco. Jive’s VP of Global Alliances, Rob Brewster sat down with eCornell to discuss KPIs and how a CEO can use social media to foster employee engagement and productivity as well as nurture organizational culture. Specifically, Rob speaks about the right way to do executive messaging, how to vastly improve the process of on boarding new reps, and how to do global collaboration the right way. Click here to view the 3 Ways to Win For the Social CEO video.