Blog Archives

Unravelling the Spaghetti Matriciana (aka the crazy labour market)

Three steps to hiring the best talent and at the right price.

Confused? It’s not just you. Right now the whole labour market is like a bowl of starchy spaghetti and you need to be super dextrous to unravel the threads to sate your appetite. You want the talent, but you and countless others can’t afford the premium. In this blog, we’re setting out the three fundamental steps to beating the competition in order to hire the talent you need. We suggest you don’t even try and make sense of the macro data – we’ve been listening to the economists too and none of them has nutted out the strange equation of the current Australian labour market.

Step 1.

Understand the value of high performing and high potential talent.

These two categories of employees are gold. Make sure you identify what you are looking for in a new hire – do you want this person to perform in the same capacity for ever after, or step up in the future? High performers are shown to deliver up to 4x the productivity of your lower average performers, but will your organisation be able to create the culture for a repeat of that high performance, or to bring out the high potential in an almost there candidate? Sort this out so you know what gap you’re filling.

  Low Potential High Potential
High Performers Regularly exceed benchmarks
Lack skills to perform at a higher level
Set standard of behavioural excellence
Model leadership and cultural values
Low Performers Little-to-no aptitude
Repeatedly fail to deliver
Have above-average aptitude
Show inconsistent performance

Step 2.

As we’re back in the war for talent, have a co-ordinated hiring (attack) strategy agreed and set.

Take it from the troops on the ground – too many hiring organisations are losing out on good talent because of one simple fact – disorganised, muddled hiring processes. Hope and winging it will not land you high performing talent. Time delays, poorly prepared interviewers, managers who don’t understand the current labour market, and poor engagement will set you back in the bunker time and time again while the good talent is signed up to your competition. Take extra time up front to prepare your approach and timeline. If you’re the Commander, bring your internal Officers in on your approach early, and then make military-style moves.

Step 3.

The salary package you have on offer is important but for some organisations, top quartile compensation isn’t an option. What to do? Our advice is have the remuneration and benefits conversations early on – it saves time, money and heart-ache when late on in a negotiation it’s a deal breaker. And again, salary is only one part of the equation – make sure you’ve identified all the attractive benefits of working with your organisation – some of which you may take for granted, but which are great attractors. What else do you offer? Extra paid leave days, a good workplace and amenities, tailored professional development, culture and values alignment, wellness benefits, clear career paths, flexibly work schedule, recognition and rewards etc. Write them down and share with enthusiasm.

Bring them in and they will build!

What is your world @work?

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Posted in Slade Executive, The world @work

Compare the pair indeed!

Q. What’s in the news every day and the first topic of discussion whenever I sit down with clients or candidates?

A. The Hayne Royal Commission and, to a much lesser extent, the recent Productivity Commission report into Superannuation.

Where the draft Productivity Commission report identified areas for improvement within superannuation, namely multiple accounts and insurance premiums eroding those accounts, the Hayne Royal Commission has given us a sorry list of poor systems, poor compliance and behaviors that could be described anywhere from lazy, greedy or criminal.

I don’t need to be more specific, we all read the news and know what and who I’m referring to.

Sadly, in these client and candidate discussions, no-one is surprised. The constant stories from candidates from within these organisations clearly tells me that sales, profits and bonuses are  priorities number 1, 2 & 3, and anything else is a long way behind. As a result, the culture of these organisations are often toxic, and that’s why I’m seeing more candidates from those organisations than from anywhere else.

For political reasons the Industry Superannuation sector was added to the Royal Commission. I wonder if the Minister regrets that now. Not only did the Productivity Commission highlight the superior overall performance generally of the Industry Superannuation Funds as compared to the Retail Superannuation Funds, but so far the Royal Commission has further highlighted the difference in culture from the top down. The $67 million in fees begrudgingly refunded and fees to dead people versus a few million dollars on an advertising campaign (A fox in the henhouse? – I doubt they even knew just how right they were) or $240,000 in client entertainment expenses for a $35 billion fund.

Compare the pair indeed!

Why mention all this as a recruiter? Right now, employee sentiment is strongly in favour of ethical and moral corporate behaviour. Candidates want to work for organisations that genuinely make a difference, and demonstrate their strong cultures in their corporate behaviours. Good candidates want to work for strong organisations that are profitable and dynamic, but who also care about their staff and their customers, not just their profit or share price or bonuses.

Without doubt, one part of the financial services sector is winning ‘the war for talent’ based on values, ethics and behaviour.

What have you seen in your world @work that has shaken your values?

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Posted in Accounting & Finance, The world @work

Leading with courage

In early February 2018 Dina Pozzo, founder of insium, spoke to the Slade Group team about Organisational Courage. Here is some background to what that term means.

Sustaining organisational performance in an environment that is volatile, uncertain, complex and ambiguous[1], is challenging and falls to the leadership within an organisation. This environment has contributed to corporate scandals including that of Enron in 2001 and Lehman Brothers in 2008. Might the collapse of both of these organisations have been averted by a strong expression of courage by senior and executive employees?

Might courage at work – defined as “an intentional constructive or moral action taken by an individual in the presence of perceived personal risk and uncertainty of outcome (personal or organisational) in order to resolve or avert a workplace issue” – avert further global collapses?

Warren Bennis, described as a “renowned leadership scholar”, espouses that “courage is the ‘X’ factor that can make or break corporate America”[2]. The Australian landscape is no different.

My Master of Applied Positive Psychology Capstone paper established the case for courage as an enabler of leadership, providing argument and a framework for the development of a measurable, outcomes-based programme to build courage. This programme, Leading with Courage, was launched at the 5th World Congress of Positive Psychology in Montreal in July 2017. The objective of this programme is to ‘build courage in senior and executive leaders, which will enable leadership behaviour, with an additional positive impact on leader workplace wellbeing’.

The above definition of courage, which I developed, is the foundation for this programme which uses narrative methodology to build courage, with measures of leaders’ workplace courage, leadership and workplace wellbeing taken pre- and post-programme. See more here: leadingwithcourage.com.au

The programme combines academic theory with practitioner evidence – including my own 16 years’ experience as a practitioner in the field of leadership and organisational culture development.

While courage is not the only behaviour required of leaders, it is an essential leadership behaviour for success, and may be the one which provides most support in these challenging times.

I welcome the opportunity to speak with you about Leading with Courage. For now, think about when have you been courageous in the workplace? How do you lead with courage? What stories of courage do you share to inspire courage in others?

 


References

  1. Bennett & Lemoine, 2014
  2. Jablin, 2006, p. 102
  3. Remeikis, 2016
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Posted in Slade Executive, The world @work

EVP now means a partnership, with flexibility and the opportunity to contribute to a bigger picture

We’ve moved on from the Employee Value Proposition (EVP). Certainly a great working environment, progressive organisation culture, and the right level of remuneration with associated benefits are attractive to highly talented individuals. However, more and more I am seeing both organisations and candidates searching for the ultimate partnership between employer and employee.

Organisations want talent who can deliver, no matter what the situation. At executive level, there’s an expectation of availability (or at least to be contactable) 24/7, no matter what time zone and what time of the year… my New Year’s Eve phone calls are still ringing in my ears! Top performers are keen to have greater flexibility and accountability, including the hours, locations, scope of work and the projects they have the opportunity to work on. Working together embraces all of these ideals and both parties have a critical responsibility to adapt their approach to work in today’s marketplace.

Increasingly our life is more about want-want-want – just ask my teenage kids who want more than I can provide! As a consumer society, we often lose focus on the importance of empathy, compassion and giving. Nevertheless I believe we all want something that we can connect with, whether that be emotional, spiritual, financial or another reason. Going to work every day for a higher purpose is fulfilling. I am literally hearing from candidates the need to work in an environment where “I know I can make a difference”. To facilitate this, you must have an environment that places the bigger picture at the heart of its purpose, right?

Last year Salesforce was awarded the highest honour of #1 Best Place to Work in Australia. It’s worth asking, what do they do differently? The company adopts the Hawaiian spirit of Ohana (meaning ‘family’), which obviously resonates if you’ve ever met someone that works there or read some of their employee testimonials. Along with their 1-1-1 Corporate Philanthropy Model, where 1% of tech staff are allocated to supporting not-for-profit enterprises in Australia, Salesforce has also taken a stand on social issues, including gender equality and marriage equality.

Let’s not forget that understanding the customer is also paramount. We should aspire to achieve great partnerships with our clients, as well as our colleagues and our employer. Observing an organisation who values both the needs of customers and its own people will attract like-minded talent who are also a good cultural fit. Makes sense, doesn’t it?

If you’re a candidate, don’t be afraid to put yourself out there on what your real EVP looks like (I’m hinting it’s probably not a slide in the office). Employers, give and you shall receive in spades.

What’s unique about your value proposition as a candidate or an employer? How has your organisation adapted to these changing dynamics in the world @work?

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Posted in Consumer, Sport & Entertainment, The world @work