Employee engagement has headlined top business blogs and articles for over a decade and although we are making some inroads, many employers and managers still don’t understand what engagement is—let alone how it can impact their bottom line. Top 500 firms in North America do, however, tend to be more in tune with the benefits of an engaged workforce; namely decreased turnover and significantly increased client satisfaction, revenue, earnings per share and profit (up to 2.5 times that of competitors with low engagement).
The role of women in the workforce has changed dramatically over the last 40 years. Yet challenges exist for aspiring female leaders, as women are persistently underrepresented in the highest levels of organizations. A study by Catalyst suggests that among the Fortune 500 Executive Officer positions, only 14.6% are held by women. And, rather than continuing to grow, this number has stagnated in recent years.
Strong leadership is an essential ingredient in organizational success. Understandably, the topic of leadership attracts a lot of attention. Organizations train, develop, align and build capacity to enhance leadership capabilities. Yet, all too often, the focus becomes perfecting policies and plans to achieve operational excellence. Despite the most thoroughly considered strategies, I am constantly amazed by how often leaders completely miss the mark in execution because they don’t have a supportive following.
Nancy Tower saw from an early age what it looks like to jump in with both feet. Her father grew the family’s Bathurst, N.B.-based firm Tower Jewellers from a single store to 16 locations. Spending her summer holidays working in the business, and chewing through HR and marketing talk at the dinner table, ultimately helped drive her to a career in business. Today the 52-year-old mother of three, who exudes a confident, athletic energy, has risen to the highest echelons of Atlantic Canadian business.
The stakes in leadership have always been high, but they are getting higher. Leaders today must execute strategy, drive innovation, and build talent for the future. They are under more pressure and more scrutiny than ever before. But at the very moment we need our leaders to be their best - to be truly great - many leaders disappoint and fail us. Recent studies have shown that only 7 percent of employees trust and have confidence in their senior leaders to look out for their best interests.
You’ve invested considerable energy, time and money over the years to build a strong family business. As you plan for the future, you realize the day will come when you’ll have to hand it over to the next generation and make a graceful exit. As you plan your succession, there are three aspects of this transition that you will want to consider: financial, health and lifestyle. Most entrepreneurs take great care to address the financial issues of tax planning and wealth management with their accountants and lawyers. They also consult their doctors about maintaining a healthy lifestyle.
The Role of Psychometric Assessment in the Selection Process.
So, you`ve thrown your hat in the ring and applied for a new job. You`ve written a captivating cover letter and submitted your polished resume. You have your references lined up and primed. And then you have a screening interview which you nail. And now, the recruiter has asked you to complete a psychometric assessment. Why? What can an assessment possibly tell anyone about you that your cover letter, resume, interview, and references cannot?
Leadership is such a vague concept. When we hear the word we think of charismatic individuals, great generals, engaging politicians, or renowned business people. We generally think of people situated at the top of an organization who attract attention to their accomplishments. And, as of late, the topic of leadership is often discussed in the context of succession and looming leadership gaps.
Boards are as diverse as the organizations they serve. However, there are a number of common challenges boards face including an evolving regulatory environment, increasing role complexity and rising demands for transparency and social responsibility. As the expectations of boards increase, so too does the importance of ensuring that your board is up to the challenge. In our experience, there are six critical steps to building an exemplary board for today’s challenging board rooms.
There is almost always a palpable sense of fear when an organization decides to conduct an employee engagement survey for the first time. What if my employees are unhappy with the leadership of the organization? What if my employees feel under compensated or overworked? Employee engagement surveys, if developed appropriately, should assess a host of different areas across an organization, including leadership effectiveness, career development opportunities, work-life balance, and job design.