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Karen Peck

Smartly Written

January 2024 - TD Magazine

Know which qualifications and capabilities to gauge.

A Comprehensive Guide to Picking an Executive Coach

If you aren’t rethinking your sales talent strategy in 2022, you could be putting yourself at a competitive disadvantage. Finding great sales talent in today’s tight labor market can be a time-consuming, expensive venture—to add to the challenge, top talent is constantly being targeted and recruited. In the last two years, more people have changed jobs than at almost any other time in modern history—with the pandemic-driven remote workforce accelerating this trend. Consider these statistics:Forty percent of workers globally say they might leave their jobs in the near future (McKinsey).Turnover rates for sales roles are nearly three times higher than any other line of business (HubSpot).The average cost to replace a single sales rep is 1.5–2-times the rep’s salary, and it takes 6.2 months on average to fill an open sales role, costing organizations hundreds of millions of dollars in lost revenue potential (Hire Velocity).The good news is that there are steps you can take to proactively address these challenges. Attract the next rock star seller and retain your most valuable talent by exploring these problems and their solutions:Lack of career advancementBetween April 2021 and April 2022, the number 1 reason (41 percent) people quit their jobs was due to a lack of career development and advancement.How to address it: Discuss career aspirations with your direct reports early and often—for new hires and tenured employees. This is not a one-and-done conversation and should involve both sales leadership and HR. Take the time to understand their career goals, and set up regular one-on-one meetings to discuss their paths and progress towards those goals. It will motivate new hires early on to strive for greater achievement and re-engage your tenured sellers knowing they have an upward trajectory.CompensationAnother top-rated reason employees stated they quit a job in the last year was due to inadequate compensation. With hundreds of thousands of sales jobs currently unfilled, there is significant competition for top talent. Employers are willing to pay more to attract the right talent.How to address it: Evaluate and benchmark your compensation structure to ensure you are remaining competitive in attracting new talent—especially if you haven’t done this in the last two years. Consider the level of tenure, expertise, and geography of the seller as these factors will influence the competitiveness of the offer you’re making. If you are unable to increase base pay to compete with other companies, consider other nonfinancial incentives as part of the overall benefits package like flexible hours, tuition reimbursement, or additional PTO.**Uncaring and uninspiring leaders (workplace culture)**In a recent McKinsey survey, 35 percent of respondents listed uncaring leaders as one of the top reasons they left an organization.How to address it: A great corporate culture combined with a competitive compensation strategy is a recipe for any healthy sales organization to thrive. However, one without the other is doomed to fail. Focus on building a culture of trust, accountability, and recognition. When you help sales reps realize their full potential and reward behaviors that drive success, you will make it harder for them to leave.Make wellness and work-life balance a priority, and don’t shy away from those conversations. Today’s employees want to know their leader cares about them; so instead of focusing only on deal reviews and pipelines during one-on-one meetings, take a few minutes to talk about their well-being and take appropriate actions if burnout or other life challenges are hindering their success.Absence of meaningful workNearly 70 percent of people say they define their purpose through work with seven out of 10 employees reflecting on their purpose because of the COVID-19 pandemic (McKinsey). As younger generations of talent enter the labor force, doing meaningful work ranks high among their ideals, and if they don’t feel a sense of meaning in the work they’re doing, they won’t stay long.How to address it: Build a supportive and reliable community within your sales organization that emphasizes meaning and purpose. Focus on your mission, vision, and values, and help connect the dots to your sellers’ definition of purpose and personal career aspirations. Create a culture that fosters diversity in talent, experience, background, and ideas and that engages all levels within the organization. Focus on the business challenges your solutions solve. Document and share how you’ve helped individuals or businesses achieve a specific outcome. If a seller never sees the result of their sales efforts, it’s difficult to see the greater purpose of what they are doing.Looking for ways to improve sales outcomes?Turn knowledge into action through high-impact sales performance frameworks.

4 Reasons Your Sales Talent Is Leaving and What You Can Do About It 

They're creating computer code, carting food and passengers around in their own cars, and popping in monthly for a project meeting. What's their story? Are these occasional workers underemployed, unable to secure a salaried job? Are they Millennials and Generation Z-ers sampling different occupations before they commit to a career? Or Baby Boomers making some extra cash to supplement their retirement savings?They could be any of those―or none of them. Meet the gig workers, a burgeoning population in the labor force that is changing the way company leaders look at workforce planning and the way people view work."As individuals have entered the workforce and evolved, they are asking for more flexibility," says Kurt Heikkinen, president and CEO of staffing company Montage. And, as access to health insurance has become increasingly separate from full-time employment, "workers have really gained a sense of freedom. They look at [their careers] as a series of gigs, a series of projects and experiences, as opposed to a long-term career at a given employer."Figure 1: Gig Workers Look Like the Broader WorkforceThe following charts illustrate the demographics of self-identified gig workers compared with those of the entire U.S. workforce. Source: Morning Consult.But these aren't the typical temp staffers of yore―the "Kelly Girl" secretaries and Manpower workers who filled in for office staff when an employer had a hole in the schedule. Nor are they limited to the classic freelancers in creative fields―writers, editors, musicians, and graphic artists. Nowadays, gig workers run the gamut, from Uber drivers to IT technicians to travel nurses. And they are an integral and growing part of the knowledge economy.Many businesses have embraced this pipeline of on-demand talent. Yet, despite all the promise of the gig economy, it is a work in progress. The rules are still being written as companies and workers alike adjust to new ways of getting work done.Two Types of Gig WorkersGig work itself is not new. "People have always worked this way," but the prevalence and types of gig jobs have changed over the years, says Diane Mulcahy, author of The Gig Economy: The Complete Guide to Getting Better Work, Taking More Time Off, and Financing the Life You Want (Amacom, 2016). "This kind of work is growing at a rapid rate," she says, particularly in white-collar jobs and the tech economy.There are two types of gig workers, Mulcahy says: first, those who are searching for full-time work and need to make some cash and contacts while they job-hunt and, second, those who simply don't want or need full-time employment.The latter group includes a lot of younger people, for whom the idea of a 40-years-and-you-get-a-gold-watch kind of job is something their grandparents did. They aren't attracted to what they see as an outdated model of sticking with one company―or even one profession―for an extended time. But this group also includes retired or semi-retired people who may or may not need the money but who want to stay engaged and active regardless. And there are also mid-career folks who want the flexibility and freedom of doing what they want more or less when they want, drawing on years of experience to cherry-pick appealing projects.In the United States, more than 40 percent of workers are employed in "alternative work arrangements," such as contingent, part-time, or gig work, according to Deloitte's 2018 Global Human Capital Trends study. In a 2016 Adobe survey, 56 percent of office workers predicted that everyone will do some gig work in the future. Asked to look ahead to 2020, 28 percent of business leaders and chief human resource officers said they anticipated an increase in gig workers, the Deloitte study found."The vast majority [of gig workers] are folks who easily could go get [traditional full-time] jobs somewhere," says Lori Williams, vice president of fulfillment at Gigster, a software developer that has 80 employees on staff and works with 1,000 gig workers. "They've chosen this lifestyle."The top benefit of the arrangement for them is autonomy. They have greater control over their schedule and they can avoid routine annoyances such as bad managers, office politics, and interminable staff meetings. They also might learn new skills and gain valuable experience at a temporary stint, ultimately giving them the tools to advance in other gigs or in staff jobs.Employers, too, enjoy the perks of an open relationship, gaining access to skills and talent without having to commit to a full-time hire. And managers can supplement staff with gigsters who have the talent and knowledge not only to advance a project, but to teach regular employees new skills."It's really [about] how can we continue to scale as an organization?" says Vlasta Dusil, senior vice president of HR for computer technology company SAP's Cloud Business Group. "We talk about diversity, with gender, with different generations. In our view, this is another way of looking at diversity."Growing PainsStill, there are some drawbacks―for both sides. The "flexible schedule" so many people crave can lead to them being underemployed. The gig worker might also miss out on the advantages that come from committing to one employer. Among those advantages is professional development."How are these people going to train and develop and grow?" says Jennifer Graham-Johnson, SHRM-SCP, recently retired chief HR officer at WestRock Co., a paper and packaging products manufacturer."I do worry we are going to have a group of people who are . . . unable to advance" if they ever decide they want full-time employment because they haven't had the opportunity to develop their skills and knowledge through training and classes.Then there's the issue of employee benefits.Gig workers don't get health insurance, paid time off, or 401(k) contributions from employers. Offering them the same perks that staff members get could set an employer up for legal challenges and negate savings typically associated with hiring gig workers.It could also harm recruiting efforts. After all, good benefits are one of the selling points companies use to attract full-time talent. Why would people want to join your team as full-time employees if they can enjoy the freedom and flexibility of gig work and get the same benefits as regular employees?The bigger issue may be that offering the same benefits to contractors and regular staff could get the company in trouble with the IRS, which has a 20-point test to determine whether workers are independent contractors or employees entitled to the employer-paid share of FICA taxes. Microsoft and other employers have had to pay millions of dollars in back taxes and damages after being sued by workers who said they were paid like independent contractors but treated like employees.Figure 2: What Motivates Gig Workers? Source: Shiftgig, Profile of a Gig Worker, 2018.Playing Catch-UpGovernment and businesses are lagging on other fronts related to the gig economy, too. Banks, for example, might be skittish about lending money to a potential homeowner who doesn't hold a permanent job. And gig workers don't get unemployment benefits, COBRA, or worker’s compensation.Companies can help fill the gaps. One way is to offer voluntary benefits that are fully paid for by the worker but administered by the employer. E-commerce website Etsy, for example, has partnered with Stride Health to act as a health insurance broker for the people who create the art, jewelry, and other items sold on Etsy.Still, the gig economy is clearly moving faster than the institutions that deal with these workers."I don't think we've caught up to this type of worker," says Arthur Tacchino, chief innovation officer at the compliance technology company SyncStream Solutions. "The workforce is changing. So how are the coverage, insurance, and benefits going to evolve to fit the newer kind of workforce we are seeing?" There's no clear to answer that, Tacchino says."Regulators and courts are trying to apply 20th-century law onto a 21st-century problem," says Richard Meneghello, an employment attorney and partner at Fisher Phillips. "Our hope is that once people realize it's not just a passing fad, regulators and legislators will get more serious."One agency trying to change with the times is the Securities and Exchange Commission, which is taking a fresh look at compensation for gig workers. The agency is considering revising its rules to make it easier for people who are classified as independent contractors to receive stock awards from the companies that employ them, the New York Times reported.While governments and financial institutions adjust, the market for gig workers is maturing, fueled by technology platforms that help both sides of the work arrangement find each other. Online labor platforms such as Upwork, Gigster, TaskRabbit, and Freelancer are not only empowering the gig economy, but revolutionizing the way workers and companies connect."The technology is making the whole market more efficient," says Marion McGovern, author of Thriving in the Gig Economy (Career Press, 2017) and co-founder and former CEO of M Squared Consulting.Upwork, for example, connects computer-industry freelancers in 170 countries to employers who need their services, charging the worker a fee of 5 percent to 20 percent of the job's pay. ShiftPixy and others hire workers (paying the employer share of payroll taxes and taking care of other compliance issues), then "lend" them to clients in the hospitality and restaurant industries. The company has an app that allows people to broadcast their availability and apply for certain shifts in their communities.As Uber was creating its digital platform for drivers, the job market for gig work was exploding, says Scott Absher, ShiftPixy's CEO. "People are looking for ways to recobble their income," and these platforms make that more efficient, he says.Managing the GigSo how do today's people managers handle gig workers, follow the law, and head off potential tensions with full-time staff? Some tips:Decide who will drive the decision-making on hiring. A simple procurement process may be enough to fill an open gig for an IT techie, while a speechwriter for a CEO will likely require input from the chief executive.Pay people promptly. "I can't tell you how many companies are on 60- to 90-day schedules" for contracts, McGovern says. But individuals expect to be paid faster and more often.Know the law—and do not treat gigsters like employees. In fact, don't even use the word "hire" to describe the working arrangement, advised Rebecca Cenni-Leventhal, founder and CEO of staffing and recruitment firm Atrium. People who work gigs are "engaged," not hired, she cautioned.Protect confidential company information. This is especially important when using outside contractors for a business dealing with sensitive client information, such as health data and Social Security numbers.Let your own staffers gig―even at your company. Since many workers crave the opportunity to learn something new, offer full-time staffers the chance to develop by giving them a gig in-house.Keep staffers and gigsters separate, when warranted. "Having [gig workers] participate in regular team meetings or asking them for regular updates and reporting is not wise," says Cenni-Leventhal, as that may cause them to be viewed as employees rather than independent contractors. "Inviting them to one holiday party isn't too much of a risk, but when you start having them participate in team-building activities and attending company functions, it can get tricky."Make your gig workers feel welcome and valued. "Make sure you afford them the correct level of respect," McGovern says. "This is someone who is going to add to the team, bringing in skills or knowledge and experience to help the effort."On top of that, she adds, it's important to recognize the dignity of their career choice. After all, it's a work arrangement more business leaders can expect to manage in the coming years.Copyright 2019, SHRM. This article is reprinted from www.shrm.org with permission from SHRM. All rights reserved.

Gig Workers Challenge Old Order

The average American spends about a third of their lifetime at work. People seeking leadership, career, and performance coaching want to ensure they are set up for career success and can enjoy their work, among other reasons. But how do you know which coach will work with your specific needs? Where can you find qualified coaches? How can you ensure this coach will be a good fit for your personality and emotional needs as well as your professional ones?

In this webcast, you will:

Develop a plan for self-assessment and uncover the larger issues surrounding why you are seeking a coach.
Determine how to pick the right type of coach, (for example, leadership, performance, or career).
Learn how to match your personality and needs to coaches via their descriptions.
Discover tools that will help you assess your coaching sessions, determine if they are or aren’t productive, and learn how to gracefully end the coaching relationship.
 


Finding the Right Coach for Your Career Growth

Forget being that shiny happy trainer. Spend less time preparing slide decks and more time thinking about how learners can practice and perfect their new skills.

Trainers Aren’t Keynote Speakers

ATD Links Archive - ATD Links

Generous leave policies can provide needed work–life balance, but you need to make sure employees aren’t taking advantage.

Handling the Habitual Leave Employee

 Whether you are a Mom-and-Pop operation or one of the larger talent development firms, you probably have some sort of strategy guiding you. Hopefully, this strategy has been documented and is the outgrowth of input from key people in the organization. But even if the strategy is only in your head, it is still waiting for action.Unfortunately, many strategic plans, which are key to the future of our businesses, are rarely executed fully—if at all. In the previous blog on strategic growth planning, I mentioned that some 80 percent of strategic plans fail to get executed. (I know I have read or heard this stat enough times to think it is true. But if truth be known, I don’t have a source to share with you to validate this alleged finding. Nonetheless, there is good reason to believe that most strategic plans are not fully executed as designed.)There are myriad reasons why this is the case, not the least of which are the normal changes to a business model or that leadership demands a different direction than originally proposed, deeming the original strategy moot. More importantly, in the ever-evolving talent development industry, one could even argue that sticking to a growth strategy could be counter-productive.  But what about strategic plans that are not subject to major interferences in the business model or competitive landscape? Why aren’t they  implemented? Execution Best PracticesA March 2015 Harvard Business Review article, “Why Strategy Execution Unravels—and What to Do About It,”  by Sull, Homkes, and Sull spells out several likely culprits, highlighting the myths many business leaders adhere to about strategy execution. Their research found that several practices actually get in the way of effective execution, including:inadequate alignment across business unitsundying commitment·one-way communicationstoo much of a performance cultureexecutive-only leadership.While the authors studied very large multinational organizations across many industries, these strategy execution lessons that apply to any organization.  Let’s take a closer look at each practice. Alignment:  To execute a strategic plan in a typical three- to five-year time span, senior leadership must be in total agreement about the direction the business is driving toward. Without this sort of alignment, major departments  and functions will continue to do their own “thing”—working at cross-purposes of the overall business.Interestingly, the research pointed out that while 40 percent of managers note alignment (or lack thereof) as the main cause of poor execution, the second major reason was failure to coordinate across units, noted by 30 percent of participants. Apparently, alignment alone doesn’t necessarily equate to execution—albeit it is a significant influencer.  So, while one of the primary goals of any strategic planning process is to achieve senior leader alignment, it also is important to align across all business units.Commitment: Most business leaders believe that alignment requires commitment to the strategic direction. But in my experience, alignment can exist (on the surface) without total commitment to the strategy. In this case, leaders agree with the overarching direction and some elements of the strategy, but not with all of it. In fact, unswervingly sticking to a strategic plan may impede its execution, given that many intervening factors and changes will surface over time. While commitment to the plan is initially necessary, ignoring the environmental changes taking place will undoubtedly result in leaders executing the wrong plan.Communications: The most likely reasons organizations fail to execute strategic plans:Leaders don’t provide communication to the rest of the business.Leaders provide communications that are unclear, foggy, and lack any inspiration for moving forward.Simply communicating the strategy from “on high” is too little to achieve a well-executed strategy. Instead, communications must create a dialogue that enables employees to offer input and questions so they can truly understand their role in the execution process. If a rational business case for the strategic direction isn’t offered to—and accepted at—the individual level, it will be difficult for employees to internalize the plan and their role in its execution.Performance Culture: Possessing a culture that is committed to performance is critical to execution. Organizations must establish a culture that recognizes and rewards practices like teamwork, experimentation, and flexibility, which may appear at times to slow down performance.  Although a high-performance culture values and demonstrates continual accountability, this head-down and all-hands-on-deck approach doesn’t allow organizations to slow down in the short term so they can move faster in the long term.  Indeed, the right delays—yielding the right results—should be perfectly acceptable.Executive Leadership: We often hear that true change must start at the top. But top-down involvement can impede the achievement of sustainable results. Certainly, the CEO and C-level team must lead the initial charge for execution, and even monitor its progress. However, the sooner frontline employees can internalize a strategy, the sooner they can rightfully execute it. Once the organization feels it must wait for executive approval, the process slows, engagement wanes, and innovation falters. In other words, it takes a village to effectively execute, not just a team of senior leaders who decide when and how execution should take place.Bottom LineThese execution practices are logical enough and, at some level, seem relatively simple to enact. Regrettably, they become more complicated in their actual operation. Perhaps, though, this is just the nature of most businesses that are growing—with growth comes frequent change and even alterations to the corporate strategic direction.Maintaining flexibility around strategy is a dual-edged sword, because sometimes flexibility can become an easy excuse for not following the original, well-thought out plan. Other times, flexibility makes complete sense and is, in fact,  necessary for the business to move forward. In either case, executing a strategic plan is a critical element of both the short- and long-term success of any business, including those in the talent development space. What’s more, minding these best practices can help any organization execute their strategy with success.How have you experienced poor to no execution of a strategic plan? Whether you were the leader or the follower, what were the reasons for this in your business? What were the real business consequences of the failed execution? How could the execution have been specifically improved? Share your experiences in the Comments below.  To learn more, check out my book The Complete Guide to Building and Growing a Talent Development Firm.

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