Strategic Talent Management
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No New Years Resolution for us

We did not set any New Year Resolutions…

Resolutions are really like desires or there like to have happen things, like to be kind of things or if I could afford anything kind of things. We find it is best not to dream and not put things into actions.

However, as we have done for the last five years, my wife Pauline, and I take a day out of our schedules in early December to do a mini strategic planning retreat. Each year we determinedly review our progress achievements and reflect on those items we did not achieve. We take some time to discuss areas of our life, work and relationships that comprise the central focus of who we are, what we believe and what needs work. The areas we focus our planning around are those we say are critical success categories. These indicators are those vital areas of our lives that we deem as most important and I share them in no particular priority. Our final effort is to produce a Goals and Planning Calendar. The calendar provides a visual representation of what we plan to accomplish, important celebration dates, our travel commitments, relaxation and fun times. It is nothing fancy, just something we put into calendar layout and print. It is powerful to keep in front of you.

Here are our critical success categories:

Business goals

Pauline’s real estate business, Stoney Knoll Realty - 25 plus years of work, labor and love of helping good people make good buying and selling choices.

Bill, Strategic Talent Management – a 16 year consulting partnership with a focus on managing and developing human potential to maximize business results.

Our respective businesses provide the dreams and goals that serve to be our “income” focus. Our focus is excess cash flow, my definition of fun!

Relationship goals

Where in our relationship do we need to improve to maximize our love and joy as a married couple? We so often realize that this portion of our lives can be quashed by all kinds of other important stuff. While we are not prefect at this, we do set a day of the week as a date night or just find time to relax and watch a movie - together. Primary goal - Finding time to just be together, do things together and see some of the beauties in of God’s great earth.

Family goals

We are a blended family with children and grandchildren that are scattered from east to west coast. Our primary challenge is to see them as much as possible and to communicate with them regularly. One important goal this year will be my family gathering around my daughter’s Sarah’s marriage this spring in Sacramento to a good and thoughtful man – Mark. Also, to play some catch with my grandson, Simon. Other important family things will be Pauline’s second son is moving from Long Beach, CA to Manhattan, NY in February. Pauline’s daughter, Tiffany will still be in college in Tampa, FL. We will visit my son Bill, Laura and grandson Thomas in March in Richmond, VA. Pauline’s oldest son, Jon and family, wife Colene and granddaughters, Olivia and Molly live very close by. Our desired goal is to get them up to the lake this summer at our camp in Weld, ME. Primary focus – connect with all, so that they all know they are special and very dear to us.

 

Our Home goals

As with all homes, there is much to do around here. Our primary challenge is going to be redoing the landscaping in front. We have about 3 acre with older apple trees and plenty of God’s creatures to see. I actually find mowing the grass a great escape.

Our Camp goals

The camp is a place of rest, peace, and beauty that just quiets our hearts. The work is getting the boats in and cleaning up after the winter’s mess and some repainting. My enjoyment comes from setting by the fire, with a glass of wine and hearing Pauline voice reading aloud. Pauline finds it as a place to put all of life’s woes behind and just be at peace. Primary objective is to clean-up, fix-up, and mellow-out.

Spiritual and Serving goals

 We make our faith and commitment to serve others a vital part of who we are and what we do. Pauline and I volunteer our time to work with couples in our community that have troubled marriages; in a program, we call “Considering Divorce.” Our belief is by saving a marriage we can save a family from the heart pains of divorce. Our goal is to selflessly pour our love to those struggling, by sharing our faith, our own life stories, our friendship, and using the facilitating skills we have been blessed with. This continues to be another area of personal development.

Personal and Health goals

 We believe that our bodily vessels need constant development, exercise, and good care to maximize a life full of potential. Our common focus is to eat right, live right and be right in all that we do. I have healed from my foot wounds and hand surgery, so no excuses now.

 

No, we do not set resolutions, however, it will take a lot of resolve to work and achieve the goals we have for 2010. I will keep you posted.

Do you know what you want in your life?

If you do not know or care about what you want, then any road you travel will do.

However, if you want to have a clearer focus for your life, just remember, what you think about, you can bring about!

So start now and build the dreams for your life and then get to work in creating the reality to where your mind has traveled.

One year from now…three years from now…five years from now,

ask yourself…the specific

What kind of relationships will I have fail, friends and co-worker

What position will I be in?

What things do I want to own?

What changes do I want to make to my home?

What type of vehicle will I drive?

What will I have done for professional development?

What things do I want to do for my family?

What trips will I have taken?

What kinds of things will I have accomplished in my community?

What qualities would I want people to say I have?

What kind of reputation will I have—Personal and Business?

What will my closes friend and relations have said about me?

What groups will I have participated in?

What will I have mastered—for work and for play?

What do I want my health to be?

What hobbies and interest will motivate me?

What will my self-image be?

What will my appearance be?

What are my new habits?

What will be the size of my retirement portfolio?

What obstacles in life will I have overcome?

What will be different if I do change or do not change?

What would I do if money were no issue?

What else is possible because I have planned?

The higher your expectations - the higher your results. Someone said that "If you shoot for the moon and miss, you are still among the stars."

Last Weeks Poll Results:
What is your favorite Social Networking Site?
Answer Response
Ratio
Facebook 47%
LinkedIn 27%
Twitter 13%
Plaxo 7%
Other 7%
Total 100%

The True Cost of Starting and Running a Business

Many business owners are surprised to learn that there are many hidden costs to running a business. Unfortunately they most likely learn about these additional costs after they experience the frustration of managing their business day-to-day. Here is our detailed list of both the obvious and hidden cost to running a business. Business owners and company executives must develop strategies to deal with each of these cost issues to avoid wasting financial resources.

Understanding the True Costs of Running a Business

VISIBLE COSTS

 

Salaries

Benefits

Overtime

Customer Complaints

Consultants

Special Overhead Costs

Equipment Costs

Maintenance Costs

Inventory and Supplies

HIDDEN COSTS

 

Lack of Employee Motivation

Excessive Employee Turnover

Lack of Clear Business Purpose and Strategy

Sick Pay

Ineffective Employee Relations

Lack of Clear and Consistent Policies and Procedures

Training and Developing Administrative Errors

Billing Errors

Theft

Disability Pay

Waste

Poor Processes

Inadequate Staffing or Overstaffing

Ineffective Performance Management

Inefficient Systems (Management and Operational)

Low Productivity

Grievances

High Account Receivable

Equipment Downtime

Lack of Proper Equipment

Injuries

Employee Frustration

Ineffective Public Relations

Lack of Clear Vision and Mission

High Insurance Costs (Worker’s Comp)

Lost Customers

Inadequate Staff Development

Poor Internal Communications

Fear of Litigation

Low Inventory Turnover

Distribution Delays

Lack of Technical Skills

Poor Image in the Market Place

Management Frustration

Owner/Investor Frustration

Poor Management Practices!!!

How much are hidden costs it costing you?


Last Week's Poll Results:
How do you regard the H.R. function in your company?
Answer Response
Ratio
Very helpful
31%
Somewhat helpful
15%
H.R. who
54%
Total 100%

More than 54% are wondering about H.R. in their companies. 

What is your IQ? – Integrity Quotient (ability to give you word and keep your word)

Our clients will recognize this as our Rule Number One – Integrity. I think integrity is one of the most revealing factors of our character.  The ability to make a commitment and keep it is an essential ingredient to everything we aspire to become and achieve. Integrity is the cornerstone of trust. Without trust, there will never be the basis of a solid relationship.

Having a high Integrity Quotient (IQ) – (Number of times you completed your work on time, first time divided by the total of requests for commitments) is the source of internal motivation that drives individuals from goal setting to goal achievement. Integrity moves us from mere dreams and resolutions to the mastery of accomplishment that fuels our complete sense-of-self (self-awareness, self-confidence, self-regard, self-esteem, and self-direction).

Falling short of high integrity, leads to overall lower performance dependability, hurts team morale and labels the individual as not trustworthy. Sadly, I hear so many complaints about low IQ performers and the problems that result from their missed actions that I wonder how much it costs the company (lost opportunities, lower morale, and cost of redoing) and certainly their credibility in the workplace and the company’s credibility in the marketplace.

Some have suggested that it is not just a black and white issue of simply meeting or missing an estimated due date. So years ago we appended our Rule Number One to include this option of escape: As soon as you realize that there is a CHANCE that you cannot keep your word, you MUST let all those involved know of that likelihood and further what your revised plan and time estimates will be. Preferably, you should be doing this in person as it builds character. If there were no mitigating circumstances for changing the original estimated due date, than this would negatively influence the Integrity Quotient.

Now, please understand that with the complexities of life and as the scope of the original project changes, and then with the approval of new estimates, the original dates are changed and this change should not count against the Integrity Quotient as the scope of work has changed.

Personally, I am an advocate of an IQ of 85% to 90% as achieving performance standards. Above 91% of the time is exceeding, while 70% to 84% is meeting minimum standards and 69% or lower is failing to meet performance standards. The breakpoints are set to allow for honest reporting and not to establish a system that would lead to a false perfection expectation. Once an IQ score has been established, the goal is to improve upon it.

Do you know your IQ score?

Last Week's Poll Results
Your trusted source of news?
Answer Response
Ratio
ABC 12%
CBS 0%
CNN 20%
FOX 60%
NBC/MSNBC 8%
Total 100%

Procrastination

I asked my weekly Poll Readers to share their primary deterrent to accomplishing more, and the number one answer was – Procrastination. Unfortunately, procrastination is a habit that, I think, renders us all emotionally blind. We subconsciously close our mind’s eye to our behaviors or lack of them. There is no discrimination when it comes to procrastination. We are all capable of embracing this habit. Webster defines procrastination as the putting off, delaying, or deferring of an action to a later time and, I add, "with little serious consideration of the consequences."

Therefore, when 47% of my Poll Readers said Procrastination was their number one answer, I had to think that I am there as well. So, hear my words – "I am infected with this habit to the point where I can see it in others more easily than I am willing to see it in my own life." Nevertheless, even after I do admit I procrastinate, I continue to struggle and avoid the steps needed to change my actions. I wait until the consequences of not doing become greater than the activities I am deferring. Is it that way with you as well?

As I was thinking about why I procrastinate, I remembered an article I had written about 10 years earlier in which I talked a length about two types of people - those motivated by possibilities and those motivated by consequences. My final point concluded that neither one was inherently good or bad providing they served as motivators for action. However, procrastination is the lack of action, which steals our motivation to change anything, right now. We elect to defer and allow procrastination to rob of us of our sense-of-self.

The point where I change my procrastinating behaviors is when the consequences for not doing become greater than the burden of my inactions. However, I find I only procrastinate over a few things and not everything. Therefore, my handy rule is people matter more than things. I should never procrastinate over the people in my life, they are too important, and they have memories.

Therefore, my tips to the other procrastinators and myself:

  • Set deliberate goals and define specifically what needs to be done and by when (Give your word and keep your word)
  • Tell everyone involved that you have set a goal and that it will be done by (publically communicate)
  • If you need help, ask for it (working together strengthens resolve)

 

Last Week's Poll Results
 
What is the primary deterrent that prevents you from accomplishing more?
Answer Response
Ratio
Self-Procrastination
47%
Lack of Training
11%
Pay
5%
Working Environment
21%
Working Relationships
16%
Total 100%

My Best Top Twenty Manager Time Management Tips

There are 1440 minutes in everyday. Here are some tips to ensure you invest them wisely.

  • Maintain an effective daily planning system - Give your word and keep it.
  • Set challenging Goals and Rewards – build your Self-Esteem and savior your results.
  • Prioritize most difficult tasks first - begin early on difficult and unpleasant tasks.
  • Do not procrastinate - focus on the possibilities of getting on with things. Delaying progress increases the chance for errors, reduces recovery time, and increases stress.
  • Benchmark your progress towards completion - you cannot manage what you cannot measure.
  • Plan for and anticipate interruptions - interruptions are why you are here.
  • Eliminate time wasters - unimportant tasks rob energy and kills enthusiasms.
  • Ask yourself if this is a task/project that can be delegated – delegate if at all possible.
  • Make the best decisions possible, as soon as possible - then clearly document, and communicate your decisions. Poor communications leads to errors and threatens morale.
  • Designate a proper times to do you work effectively – but not at home.
  • Do it right, the first time - redoing things weakens self-motivation.
  • Communicate your schedule and priorities to your staff/team - Say what is important and why, ask for their support.
  • Handle paper only once. If you touch it, act on it - Delegate it, Dump it or Do it, when you touch it.
  • Learn to use the technology available—it is the key to long-term productivity and quality.
  • Know you practical limits of work quantity and quality. Do not push beyond your limit - this can lead to burnout.
  • Evaluate areas for self-improvement and continued learning - staying the same leads to stagnation.
  • Evaluate your staff/team members - look for their contributions and show your appreciation, this builds self-motivation and gets everyone’s engines roaring. Look for areas that need attention now and develop that skill in your employees/team members.
  • Plan for effective meetings - share agendas, purpose of meeting, participation requirements, and anticipated results.
  • Other tips for meetings - take notes, ask questions, keep an open mind, be ready to accept meaningful change and take immediate action on your assignments.
  • Make time for yourself - reward yourself for effectively managing your time.

Last Week's Poll Results
If you won a big lottery, what would you do?
Answer Response
Ratio
The same thing
31%
I would find a new career
23%
I would quit in a heartbeat and think about what comes next
0%
I would retire and take care of family, friends and others
38%
I would retire and just relax and enjoy life
8%
Total 100%

Characteristics of My Ideal Business

We spend so much time working on our businesses that I wanted to reflect on the things that "MY" ideal company would be accomplishing!

Leaner & Quicker to service the market: specifically focused on critical needs, lots of energy to capture market share – Thinks Big and Moves Quickly

Adaptable to Change: constantly searching for opportunities, ways to improve & grow to meet client’s expectations – Actually Over-Delivers internally and externally

Cash Productive: cash is king, more self-reliant, manage with as little debt as possible, if they do have debt, it is structured and managed effectively – Good Understanding of Money

Recession Proof: implements strategies to minimize economic impact in a downward economy – Forward Looking Perspective

An Inflation Perspective: they will grow faster than inflation with little or no increase in operational costs or increased overhead – Thinks Zero Cost Solutions - First

Family Friendly and Supportive: today employee commitment is critical to the organization’s bottom line results; good companies stay focused on how to satisfy the employees that provide the services to customers and bring value to owners – They Reward the best and Say Goodbye to non-contributors

Stable & Conservative Philosophy: will do less "trying" to be all things to all customers, they will dominate a niche, they will farm out work to more specialists, the cost of doing everything in-house will become ROI focused, Good Companies will build Strategic Alliances

Free Market-Oriented: entrepreneurial spirited, focus on Possibilities vs. Consequences, Opportunities vs. Problems, they compete on quality, price, service dependability, and availability providing longer-term value for value relationships – Believes what one Thinks Drives Actions

Strategic Thinkers: in terms of Strategy they plan and executive, they are prepared to adjust their plan as conditions warrant; they strategically engage the entire organization – They Stay Relationship Focused and Constantly Deliver Results

Sometimes we need to hold a mirror and take a good look at ourselves.

These comments were adopted from an Unknown Author and changed to relfect my thinking. I thank the original Author for the inspiration.


Last Week's Poll Results
What reason would most cause you to change jobs?
Answer Response
Ratio
Money
20%
Advancement
20%
Employer viability concerns
5%
Dislike/trust your manager
25%
Dislike what you do
30%
Total 100%

A Change in My Thinking

I have been a consultant for more than 18 years and as such, I measured two important aspects of my financial survival. The quality of the client’s results (their satisfaction of accomplishments being greater than the investment in my services), and the other aspect being the strength of my relationship with the client and staff (their willingness to share their concerns because of their trust in me). I used to say if I could have a choice of just one; let it be the client's results - thinking if I did not achieve a level of results, then I would never have a sustainable relationship.  From actual experiences, I have changed my thinking – I now know that the greatest measure of long-term value comes from the relationship and not the results obtained.

I recently volunteered at  MDA’s- Muscular Dystrophy Association annual Bail-Out fund raiser. I am afflicted with a form of MD, along with my son and daughter and currently one grandson.  So when asked if I would volunteer, you can easily understand my choice.

My thinking to date has been to ask folks that I have helped over the past few years to be the base for my donations. You should probably understand that asking for help is not something that comes easily for me.  Nevertheless, ask I do and trusting that God will touch someone’s heart. I have come to understand that “touch on their heart” comes so much more from my commitment of time in building a trusting relationship, and with personal sharing versus any specific accomplishment. Simply stated people matter more than things.

I have come to appreciate that people do not care what I know, until they know I care…about them. So now, I realize that I will never have a chance to focus on client results, until I first have satisfactorily established a trusting relationship, built more on mutual respect than dollars.

So year after year, the givers come from a list of valued-based friendships. I thank them all.


Last Week's Poll Results:
If you heard you were "Over-Qualified," what would you think the message meant?
Answer Response
Ratio
That they are not competent enough to manage you
4%
That they are worried that you will get bored and leave
39%
That they have little confidence in the future of their company
4%
That someone in management is threatened by your competency
7%
That they do not think you would be satisfied with their offer
46%
Total 100%

The BUNK about being “Over Qualified”

Imagine that you have worked very hard to establish yourself. Your reputation says you are loyal, dedicated, knowledgeable, skilled, and resourceful. Nevertheless, you find yourself out of work along with a growing number of unemployed professionals and skilled workers. You polish up a resume, you contact a search firm, you post your resume on several "Job Boards," and you start the clock and wait.

You get to meet a perspective employer, but there is no offer only a rejection that you are "over qualified."

I am not sure what exactly "over qualified," means. However, I know what it communicates. You feel punished for what you have accomplished. Here is what I hear when someone says they were passed over because they were "over qualified?"

  • That they are not competent enough to manage you
  • That they are worried that you will get bored and leave, thus wasting their investment
  • That they do not think you would be satisfied with what they can afford to pay you
  • That someone in management is threatened by your competency
  • That they have little confidence in the future of their company

What I think is going on in the mind of the job seeker.

  • You are at a stage where you will do anything to meet your family’s needs
  • You really do want to slow things down and smell the roses
  • You are just looking for a chance to prove yourself
  • You would be really good doing that job
  • You just want to contribute and feel worthwhile
  • You are willing to start over

The truth is I do not know what the perspective employer thinks. I have never said to a candidate that they have more experience then I need. I am befuddled that in today’s business climate that employers would not want the most experienced and even an "over qualified" person for their job. I would think that they would jump at the chance to get a great return on their investment. However, I hear something different when someone says they were "over qualified."

If you have been labeled as "over qualified," then you should know there is a position out there that will never say you have too much talent…become self-employed. If you want to test the water of being your own boss, call my direct line and leave me a message (603) 617-4935. I would like to help you take a step to becoming your own Boss.


Last Week's Poll Results:

What Percent of your true Potential are you challenged to use at work?
Answer Response
Ratio
Above 85%
31%
Between 61% and 84%
12%
Between 50% and 60%
25%
Between 31% and 49%
19%
Below 30%
12%
  100%

Weasel Words (I hate them)

I have become overly sensitive to the words people use and the meanings attached to them. My clients now know that there are certain words that I affectionately refer to as weasel words. Initially, Stewart Chaplin, Stained Glass Political Platform (1900), quoted the phrase- Weasel words are words that suck all the life out of the words next to them, just as a weasel sucks out the yoke of an egg and leaving an empty shell. People use weasel words to enhance the word meanings, but actually give a false impression. So when I hear someone say, "I want to be a better manager or better husband, father or mother, or I’ll be better", - I wonder what better means and if better is good enough.

I would not want to leave you with the impression the better is a bad word or that it is the only weasel word used. Weasel words do have a proper context, for example if we say "that’s better," we hear it as a form of measurement. Actually, my definition of better is a minuet improvement in a positive direction. Nevertheless, if we use better in a context of what to do – it is a weasel word. Because there is no way to assure that better is acceptable or adequate or sufficient. In using the word better as a phase relating to what we want to become – please consider it as looking for the easy way to imply something may be different, otherwise, we would be very specific in our actions and outcomes. Listen to the words you use and think about the message they leave in the minds of your listener. If it sounds goods because of puffery then you may be using weasel words. Weasel words sound great, but really have little specific meaning and provide a poor measurement of change.

Some other weasel words that we hear: More – minuet increase in quantity, often not sufficient or adequate. Try – some effort of willingness, but nowhere near what is acceptable to avoid failure. Hope – Something we want to have, be or do without anymore work.

If you want to change/improve – I suggest you use these words in their proper context and do not accept them when other people use them without clarifying their meaning to you. When I hear a weasel word, it rings like a big gong in my ears. I hear the weakness of the communicator.

Oh! If you want to have some fun - listen to politician and count the number of their weasel words. My favorite weasel phase from a politician is "I’m thinking about trying that." Another common weasel phase from parents is "We’ll see."

If you have your favorite weasel words or weasel phrases please email them to me, with your definition, so I can add them to a future article. My email address is WMaloney@StrategicTalentManagement.com


Last Weeks Poll Results

In the last 10 years, how many companies have you worked for?
Answer Response
Ratio
Five or more
15%
Four
0%
Three
20%
Two
30%
One
35%
  100%

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