Month: May 2018

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Responding To Chaos In The Workplace

I had an interesting time facilitating a discussion at our monthly members meeting this week. Our primary topic was on business development so one of our members teed up an issue that was vexing him.  He explained that he has an engagement which he really enjoys, however, the situation is chaotic.  The organization is in flux and the employees are fearful of the CEO. This member was looking for input to navigate through the cultural dysfunction and improve his performance in the engagement. I thought that was an excellent conversation starter because it is a real-world issue, not some irrelevant hypothetical.  More to the point, the easiest business development opportunity is to sell more to existing customers.  It was a lively discussion which included input from all in attendance.  The best suggestion was to evaluate his goal for the engagement, an obvious starting point for any decision.

I continue to be fascinated by the way people make decisions, especially in business. I understand that many have been trained to use quantitative methods while others approach decisions based on intuition or gut feel.  The best decision makers, in my experience, integrate the empirical with the subjective.  During our discussion, it became obvious that our Consultant had missed some opportunities created by weaknesses in the client’s culture.  One thought was to present his work to the employees, demonstrating its value to the company as a whole, and to the individual employees.  That one action would have clear benefits by aligning the employees with the goals of the company while improving morale.
As I was trained as a financial analyst, I am more comfortable working with hard data. The use of statistics, linear regression, company values, and discounted cash flow analysis where my tools of the trade.  I learned early on that quantitative analysis was a good foundation, however, that was only the starting point for my superiors.  To arrive at a final decision they evaluated the opportunity based on their experience, corporate objectives, and appropriate risk factors.  I viewed their process as a combination of experience and gut feel.  Also, I am interested decision-making by people in their private lives, but that is topic for another day.
At the end of the discussion, I provided perspective from my experience as an executive recruiter. I spoke to a very common introduction from job seekers,  who tell me they are looking for a highly ethical, stable environment, with a healthy culture, selling a respectable product or service.  I told our members that the first thing that I must do is to disabuse these folks of that lofty goal as most employers are managing chaos.  Most companies are under tremendous pressure to maintain relevance in the face of disruptive start-ups and technology.  They are fighting for survival.
Reasons for chaos in the workplace.
  1. Every company is struggling for market share
  2. The pace of change is accelerating
  3. There is a major breakdown in internal communication
  4. The influx of millennial’s is complicating the situation.
  5. Tenures are short are getting shorter
These factors are creating significant opportunities for our consulting business.  By incorporating these dynamics into our work we provide a value-added benefit to our clients.  As with any product or service, good work is rewarded with additional work.  At the beginning of this post, I said that the easiest way to grow one’s business is to sell more goods and services to existing customers.  In conclusion, if one is to consider ways to provide value-added services to their client, they would do well by helping the client minimize the impact of these five factors creating chaos in the workplace.

 

Thank you for visiting my blog.
I hope you enjoyed my point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.
Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.
Jim Weber, Managing Partner
ITB PARTNERS
Jim.Weber@itbpartners.com
Current Assignments
1. COO- Northeast-based Casual Dining Restaurant Company – New
2. VP Operations – Southeast-based Casual Dining Restaurant Company – New
3. CEO- Northeast-based Casual Dining Restaurant Company – Completed
4. Corporate R&D Chef, Atlanta-based Home Meal Replacement Company – Complete
5. Area Supervisor – Legacy Pizza Chain, Carolinas – Completed
6. Operating Partners – Legacy Pizza Chain – New
7. Controller – Atlanta-based Consumer Products – Digital Company – Completed
8. Outplacement Assignment – Atlanta-based Manufacturer:  Complete


 

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Making Time For Business Development: Look For Leverage

This week has been unusual for me, at least in one respect. I did not have the typical amount of appointments or scheduled phone conversations.  Even so, I closed one deal to place a Fractional CFO with a new client.  That by itself would qualify as a Great Week!  After all, signing new clients is a primary objective.

No, this week was unusual because I was able to spend more time in the office, catching up on important administrative tasks. I prefer to complete administrative tasks, like accounting and bank reconciliations, after hours or on the weekend. That frees up time to focus on higher value-added work during normal business hours, especially business development activities.  It’s not as if I’ve gotten behind schedule on these tasks, but the available time was welcomed.
So, I spent most of the week working on business development activities, including recognition for one of our consulting clients.  This client is a residential remodeling company who just won an award from the Atlanta Architects Organization.  I updated our website News Page to reflect their award, with links to the press release and the client’s web page.  Also, I scheduled an email blast to add additional weight behind their success.  Finally, I added the profiles of two new consultants to our website and announced their affiliation with ITB Partners via my email marketing platform.  These digital marketing efforts are key components of our business development strategy so I gave them the respect they deserve.
The added time in my schedule provided an opportunity to think about my time management effectiveness.  Working as an independent consultant requires one to continually evaluate the way we use our time. As I have said, a vital yet time-consuming activity is related to business development. Obviously, this includes the activities I mentioned earlier; email marketing, social media marketing, blogging, and public speaking opportunities.   These tasks are fundamental for any Independent Consultant pursuing a “Subject Matter Expert” strategy.  However, the most productive business development activity is networking.  Networking is a face-to-face activity required to expand one’s base of contacts.  As more people learn about you and your capabilities, they become motivated to contact you when they have a need.
I’ve heard that Independent Contractors must spend up to 20% of their time engaged in business development activities. That is one full day per week.  It may be a good statistic as business development is a high priority, but one full day each week seems like a lot of time.  I believe you can appreciate my motivation to find a productive solution to this need.  Employing a successful business development program is so important to me, I have designated it as the primary topic of conversation for next week’s Monthly Member Meeting.
Frankly, leveraging our Members time to support their business development efforts is a primary benefit offered by ITB Partners.  Granted, our members still need to engage in networking activities, however, we help them find public speaking opportunities and execute an electronic marketing program on their behalf.  This allows them the flexibility to spend their time more productively.

At ITB Partners, we understand the dilemma faced by the independent consultant.  Without an affiliation with a larger service provider, they are burdened by the full cost of time and financial resources to support basic corporate infrastructure and business development.  We created a model that leverages their resources and integrates them into a network incentivized to connect them with consulting opportunities.  Our Members, Independent Contractors, minimize their time on the lower value-added marketing functions to focus on networking and client services.   We believe it is an ideal model for the New Normal.

Thank you for visiting my blog.
I hope you enjoyed my point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.
Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.
Jim Weber, Managing Partner
ITB PARTNERS
Jim.Weber@itbpartners.com
Current Assignments
1. COO- Northeast-based Casual Dining Restaurant Company – New
2. VP Operations – Southeast-based Casual Dining Restaurant Company – New
3. CEO- Northeast-based Casual Dining Restaurant Company – Completed
4. Corporate R&D Chef, Atlanta-based Home Meal Replacement Company – Complete
5. Area Supervisor – Legacy Pizza Chain, Carolinas – Completed
6. Operating Partners – Legacy Pizza Chain – New
7. Controller – Atlanta-based Consumer Products – Digital Company – Completed
8. Outplacement Assignment – Atlanta-based Manufacturer:  Complete


 

 

 

 

 

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Listen, Ask Questions, Solve More Problems

It was in an epiphany for me. Well, maybe not so much an epiphany as a reminder. I was having a conversation with Charlie, one of our consultants.  He had some issues he wanted to discuss. Charlie began by looking for clarification as to our business proposition (IT Partners) and how to become more effective as an organization. I’ve had similar conversations with other members, so I knew where this was going. Listening is a vital component of coaching and problem solving so I gave him all the time he needed to present his case.   Even though I knew that his opening presentation was not his real issue, I responded appropriately; reinforcing our mission, value proposition, primary strategy, and business development tactics.  That got us beyond the first step at least.
Continuing our discussion, I asked about progress with his primary client. That generated a useful discussion including a detailed recap of one particular situation.  He expressed frustration with other issues impacting their business.   He told me the client was very busy and that he had a full plate.  He said the pace of work was revealing weaknesses with their processes and systems.  It appears that the added workload is creating bottlenecks.
I asked if he had discussed the bottlenecks with the client.  He might provide further support by surfacing those issues for their consideration.  He has an opportunity to help the client and to expand the engagement.  By the end of our conversation, Charlie had clarity and a game plan to better support his client.  His real issues were addressed.  Patient listening and a few well-timed questions led to a solution.
I spend a lot of time working through issues and problems with my clients and consultants.  Each conversation seems to follow the same outline.  It is rare that the actual problem is identified at the beginning of the discussion. Usually, begins with a recitation of irritations causing wasted time; symptoms of the problem, but not the root cause. Problem-solving is a process. It takes time and patience to understand the desired outcome and the real issues to be addressed.
One problem-solving metaphor I like to use is that of a physician. The first question a doctor may ask is “where does it hurt.” That begins diagnostic process. Obviously, the pain isn’t the problem, it’s a symptom of the problem.  Continued probing and questioning eventually lead to problem identification.
In my executive search practice; I work with the client to fully understand their expectations. What is their pain?  A job description is a basic requirement, but I want to know how the candidate will be evaluated at the end of the year.  What is the primary contribution expected of the position? What does the company want that person to accomplish?  Again, the process requires well-directed questions and active listening.  When interviewing my candidates I make an effort to understand their problem-solving skills. I want to know their process for surfacing bottlenecks. Their problem-solving methodology reveals their cultural orientation as well as their technical skills.
Problems are opportunities to learn something new and make a positive contribution. There are many tools and techniques available to aid problem-solving. Fundamentally the process is very simple. The first issue is to define the problem. Well, maybe it’s not so simple after all.  Finding the actual problem may take some work. Defining the desired outcome can be helpful. The next step is to identify possible solutions; to evaluate those options, and prioritize them with respect to their anticipated effectiveness.  The final step is selecting and implementing the resolution.  To become more effective at problem resolution, exercise your listening skills and ask good questions.
Thank you for visiting my blog.
I hope you enjoyed my point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.
Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.
Jim Weber, Managing Partner
ITB PARTNERS
Jim.Weber@itbpartners.com
Current Assignments
1. COO- Northeast-based Casual Dining Restaurant Company – New
2. CEO- Northeast-based Casual Dining Restaurant Company – Offer Accepted
3. Corporate R&D Chef, Atlanta-based Home Meal Replacement Company – Complete
4. Area Supervisor – Legacy Pizza Chain, Carolinas – New
5. Operating Partners – Legacy Pizza Chain – New
6. Controller – Atlanta-based Consumer Products – Digital Company – Completed
7. Outplacement Assignment – Atlanta-based Manufacturer:  Complete

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The Job Market Has Tightened; Adjust Accordingly



This week the US Labor Department reported that total non-farm employment increased by 164,000 in April.  This is slightly lower than the projection of 191,000. However, there was a net upward revision for February and March, increasing employment by 30,000. This continuing increase has resulted in an unemployment rate of 3.9%, down from 4.1% where it had been since October 2017.  To understand the significance of this result one must go back to the late 1960’s to find a similar unemployment rate.
The increased employment came from professional and business services, manufacturing, healthcare, and mining. There was little change in other sectors.
Long-term unemployment has been reduced by 340,000 people, is holding at 1.3 million persons, representing 20% of the total unemployed.
The labor force participation rate is 62.8%, and the employment to population rate is 60.3% largely unchanged. Involuntary part-time worker’s employment is unchanged at 5 million people.
1.4 million people are marginally attached to the workforce, down by 172,000 people. These people want to work and have looked for work during the past 12 months, but are not counted as unemployed as they had not been actively looking during the past four weeks.
The average workweek was unchanged at 34.5 hours.
There’s still a lot of slack in the economy keeping a lid on wage pressure.  The reasons include a large number of folks still unemployed; and slow gains in productivity improvement.  The labor force participation rate was greater when the “dot-com” bubble burst in 2000. Also, the long-term unemployed have been slow to return work, also suppressing inflation.  Together, these statistics are inhibiting wage increases
So, what does this mean for employers?
As the labor market tightens, fewer people are in transition, looking for new jobs. Those in job search find it easier to land, spending less time between jobs.  It may not be as big an issue hiring down the line where the labor pool is greater.  However, this tightening will have an effect on senior-level positions where the labor pool is smaller and more competitive. This requires employers to shorten their recruiting and selection cycle and offer a more competitive compensation package.  If the career opportunity is not compelling, those employers will be disadvantaged.
One of the difficulties facing hiring managers is their understanding of the labor market.  If one hasn’t had recent experience conducting a search for a specific position they may not be sensitive to the current dynamic.  Whereas they may understand the situation on an intellectual basis, they have not internalized that information.  As a result, their sense of urgency may not be what it should be.   In the last few months, I have lost excellent candidates to other opportunities, as my client was moving too slowly.
So, how should hiring managers respond?  A good place to start is with your Executive Recruiter.  Ensure that you and your recruiter are on the same page with respect to desired background and credentials.  A job description is a good place to start.  Make sure that all internal constituents are on the same page, especially with respect to key strategic initiatives expected of the position.  Use interview guides to facilitate the process, providing a consistent frame of reference to evaluate the candidates.
Make use of technology.  Use the telephone interview wherever possible, including multiple people as required by the internal selection process.  
Don’t wait until all constituents are physically available to bring candidates in for face to face meetings.  Use video conferencing wherever possible.  Go with those available and schedule time with the others as necessary.  I find that the coordination of schedules to facilitate interviews is the single largest time waster in the recruiting and selection process.
Have the offer letter/compensation package prepared in advance.  This document(s) can be prepared in parallel to the selection process, easily modified to the specific needs of the candidate.  If one waits until the end of the process, time will be wasted, especially if the new hire will receive an employment contract.
If you want to be effective recruiting top talent in a tightening labor market, find ways to shorten the process and commit to a faster response time.
Thank you for visiting my blog.
I hope you enjoyed my point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.
Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.
Jim Weber, Managing Partner
ITB PARTNERS
Jim.Weber@itbpartners.com
Current Assignments
1. COO- Northeast-based Casual Dining Restaurant Company – New
2. CEO- Northeast-based Casual Dining Restaurant Company – Offer Accepted
3. Corporate R&D Chef, Atlanta-based Home Meal Replacement Company – Complete
4. Area Supervisor – Legacy Pizza Chain, Carolinas – New
5. Operating Partners – Legacy Pizza Chain – New
6. Controller – Atlanta-based Consumer Products – Digital Company – Completed
7. Outplacement Assignment – Atlanta-based Manufacturer:  Complete