Each week we bring you news, opinions and research on Employee Engagement, Leadership and Motivation, along with some thoughts on practical workplace applications.
How Boards Botch CEO Succession
Losing the CEO suddenly or unexpectedly can have a huge impact on organisational performance and share value. MIT Sloan interviewed 124 board directors from global companies (mainly based outside the USA) to learn how CEO succession planning is managed. The results are a little surprising.
- 35% of companies have an emergency CEO succession plan (only 10% have a strong plan)
- 42% have a long term CEO succession plan (only 15% say their company has a strong plan)
Further in depth analysis and follow up interviews revealed three key reasons for poor CEO succession planning:
- Boards do not align the hiring criteria for the future CEO with the strategic needs of the organization,
- They are reluctant to antagonize the incumbent CEO by confronting succession planning, and
- They do not pay enough attention to developing the executives below the CEO level and top team.
In the article MIT Sloan make three recommendations to improve CEO succession planning:
- Assess the skills and talents the organization needs in its long-term CEO
- Formulate both an emergency and a long-term succession plan
- Build a strong leadership pipeline of internal talent
To read more about the research and implementing the recommendations, visit the MIT Sloan website .
Blog: Still Learning to Live in the Moment
One of my favourite photographs is of my brother sitting on the beach at Sestri Levante – about 35 miles South of Genoa in Italy. He’s wearing shorts and a Tee shirt and wiggling his toes in the sand. At the same time he’s finalising a business deal on his mobile. Back in the day mobiles were still new and so it’s a bit more remarkable in that respect, especially as there was actually a signal on the beach.
What I like most about the photo though, is that it reminds me how important it is to live in the moment. He’s there, on the beach, in full holiday mode. Then the phone goes. Read more.
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The Possibility of Workplace Purpose
The lack of purpose in our organizations is creating ripple effects in the employee mindset, reports Dan Pontefract for Huffington Post.
Consequently, far too many employees feel as though they are merely occupying a “job mindset” akin to collecting a paycheck and nothing more. Rather than feeling as though they are contributing to a greater purpose in the organization that employs them, employees remain disengaged, and their opportunities for a role whereby they may flourish wane.
Research from Craig Dowden and Associates has indicated employees who possess such a job mindset were never “always engaged” in their work. Put differently, if an employee believes their role at work is merely a paycheck, the chances of being engaged are minimal. It’s not difficult to understand the incredible impact a disengaged or uncommitted employee can have on customer relations, employee interactions, productivity, career development let alone bottom line business results.
Read more from Craig Dowden about his research and learn about first steps a senior leadership team can take to redefine an organisation’s purpose.
The Importance of Having the Right HR Structure to Deal With the Resourcing of Gen Z Candidates
Chris Merrick considers how businesses are preparing for the entrance to the workplace of Generation Z – i.e. those young adults born in the late 90s onwards. He reports on the recent ‘Generation Z: Agents of Change’ research, which revealed that employers anticipate having to deal with candidates that will be more demanding, more discerning and more aware of what they want to get from their job, so he makes some suggestions to help businesses prepare. Read the full report for the details.
Establish a strong employer brand and encourage current employees to promote this too
It is important to create environments all generations can work in. One way to achieve this for Generation Z, suggests Merrick, is through social media.
Tailor your approach to resourcing
Generation Z candidates are most likely to look for a job using online jobs boards/apps (60%) and through school/college/university (24 %); use these platforms as a starting point to build a relationship with talented Gen Z targets.
Attract, develop and retain
These three words should be imprinted into any HR professionals mind, says Merrick.
The research showed that 54 % of this generation expect to stay in their first job for under two years – accepting that some Generation Z employees are likely to move on quickly will set you apart from the rest, says Merrick. He concludes: “If you understand how to appeal to Gen Z, you will gain a more textured insight into how to make the most of the multiple generations integrated within your workforce.”
Measuring Employee Engagement
Deloitte have produced a handy guide to help people think through the options for measuring employee engagement. You can get a copy by following this link (registration required).
[Here at Emenex, we’re really excited about a new partnership that will change how you think about measurement and analytics. We can’t say more until the “legal niceties” have been completed, but it’s a real game changer – stay tuned for the announcement – Ed]
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