The Power of Competency Models

An article in the latest edition of T+D (Training and Development) – almost seems written for our talent management system from Thinkwise! The article highlights the power of leadership competency models to help organizations operate more effectively. A couple of excerpts:

“Our research proves that organizations that use a leadership competency model are three to four times more effective, and sometimes as much as six times more effective, than companies that don’t use models. Yet we have found that fewer than 20 percent of companies use this more effective integrated approach.” Josh Bersin, CEO and president of Bersin & Associates

Using competency models to target training needs leverages a powerful asset to promote a workforce that is equipped and prepared to succeed. As McManus emphasizes, “I can’t imagine doing my job effectively without competency models.” Cindy McManus, Director of Leadership Development at Bristol-Myers Squibb

The article discusses the power of competency models and some of the approaches and challenges in developing a model. Not mentioned in the article, but worth pointing out is that small and mid-size organizations can reap the same benefits of an integrated approach to talent management – being smaller actually improves the likelihood of success (see the ‘What Makes Competency Models Effective’ box).

A Strong Brand Can Carry A Weak Sales Force—What Could a Strong Sales Force Do For a Strong Brand?

Our research has shown that a company with a strong brand can exist with an average sales force. However, in a company with an unfamiliar brand, we find a strong sales force with specific behaviors, attitudes, and values that are continually driving them to superior sales performance.

A well-known brand will get you in the door. It removes the buyer’s security concerns and provides dependability and quality without much skill from the sales force. This alone can take you far, but who doesn’t want to go further?

If you have a branded company, are you getting your money's worth? You pay big bucks to build your brand and even more to your sales force. But how much does your brand carry your sales? What if you had a strong brand AND a strong sales force?

Performance Management Critical for Success

According to recent research by Bersin and Associates, more than 80% of respondents believe Employee Performance Management is critical in raising overall company performance.

Top Concerns of CEOs

A recent study by Ipsos Mendelsohn's "Business Elite 2008" revealed that 38% of top executives are concerned about attracting and keeping top talent. You may be saying to yourself that this doesn't make sense in light of today's economy. The reality is your people are probably looking over their shoulders, hoping not to be let go. Your best people may even be thinking about leaving. And, you’re likely thinking more and more about what to do with underperformers.

Now, more than ever is the time to cultivate your top talent and make sure they recognize they have a bright future in your organization. Plus, this may be the best time ever to find great talent.

This is the time to really take stock of your strategic plan – re-evaluate your goals, make sure your entire team understands the goals and the impact their contributions deliver. Now is the time to get your organization aligned to weather the current economic storm and come out the other side stronger than your competitors. That's why the top CEOs are concerned about attracting and keeping top talent.

Stress on the Job: What Can You Do?

A recent CareerBuilder.com survey indicated that 78 percent of employees feel stressed and burned out at work. In today's economy, there are some obvious factors that add to stress levels, such as increased workloads, intense deadlines or a demanding customer or boss. But there are other stress triggers that may be less obvious. If you are the CEO or manager, these "hidden" triggers add to a negative experience at work and eventually lead to burnout. Here are some things to identify if these are happening to you or your employees:

How Do You Know You're Under Stress?

- You frequently work more than 40 hours per week.

- You've seriously considered quitting your job or finding a new job at least once in the last month.

- You've missed at least one major work deadline in the last six months.

- You postpone visits to the doctor because you have neither time nor money to go.

- You feel more stress and less security about finances than you did five years ago.

Taking work problems home and letting it affect your personal life. Are you "kicking the dog" a little too much these days? People that struggle with defining the boundary between work and home find this becomes a cycle that is hard to break. Bringing work home every evening and weekends only adds to this stress.

Not having time to take a vacation or working while on your vacation. This is similar to taking your work home with you. People that can't disconnect from work, are unable to reap the benefits of rest and relaxation. Another side effect of the economy is people not taking vacations simply because the company has weathered a consolidation or downsizing, your workload may not permit you to take a vacation. The inability to get away from work can quickly lead to burnout.

Fierce competition inside and outside the office. Its bad enough that competition heats up in a tight economy, but if you have a competitive work environment, you might find yourself constantly looking over your shoulder. Power struggles in the office, and a tough competitive market environment can add loads of stress.

Feeling underappreciated. Simply being paid a wage and benefits isn't always enough. A simple "thank you" or personal display of appreciation is often missing, which makes workers feel that their efforts are futile.

How can you manage stress triggers?

It's important to restore balance in your professional and personal life no matter how burned out you currently feel.

1. Set strict boundaries between work and the rest of your life. It's important to define where the line is between home and work. When you are at work, focus on work. When you leave the workplace, however, they leave it behind completely. Avoid taking work home in the evenings, and do not make yourself available for work questions or communications outside of working hours.

2. Focus on whatever you are doing at the present time. You need to be emotionally present as well as physically present. Put your full attention on whatever you are doing. When you are physically, mentally and emotionally present, you will find that you can give, and gain, the most from the task or relationship.

3. Take time for rest and recovery. You must recharge your batteries no matter what is happening at work. It is important to create a work environment that allows this to happen. When you and your employees take time to recharge, productivity increases.

4. Be clear about your priorities. When you feel overworked, this typically is a result of loss of focus on your goals and priorities. Have a strategic plan of your goals, roles, values and key relationships. When you plan and live it to the best of your ability, you'll feel less stress and more fulfillment.

These tips and more are available in the book, "Overworked, Overwhelmed and Underpaid," by Barajas.

More than 95% of Jobs Require Personal Accountability
as one of the seven skills needed for success on the job according to Target Training International.

Personal Accountability on the Job

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The Key Factor to Superior Performance

Personal accountability is not only an important skill to possess, but it is also in high demand. In over 95% of the jobs we studied, we found personal accountability to be one of the top seven personal skills that are required for superior performance on the job. Most companies would agree that responsibility for actions is a major component to success on the job and will look for this skill in any employee review or selection situation. Unfortunately, personal accountability can be difficult to gauge and is often times not genuine until you can scratch through the surface.

If personal accountability is so important to success on the job, yet difficult to find, how can we look for this skill in today’s talent?

To help you identify the skill of personal accountability, consider using the following interview questions in your selection process or employee evaluation.

• What person from history do you most admire for taking the blame for a failure? What did taking the blame do for that person?
• Give me an example of someone you know whose personal actions led to disastrous results. How answerable is that person for what happened? What advice would you give to that person?
• What is the worst business decision you ever made? What made it the worst? What would have helped you to avoid making that decision?

While questions like this might help you take a guess at the level of personal accountability an individual has, it is best to get a truly accurate picture of the skills they have through a individual assessment process. This will eliminate all bias and give you statistical results that will easily help you take the next step in talent management. Soft skills assessments and 360 degree surveys are commonly used in business practices today to accurately assess personal accountability and the many other skills that make each person unique.

360 Degree Feedback Assessments

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Why This Diagnostic Tool is Still a Key to Business Growth

It has been said that 360 degree feedback assessments, also known as multi-rater evaluations, are the most widely recognized assessments in the business industry. The purpose of any 360 degree feedback assessment is to diagnose the strengths and weaknesses of an individual by considering the input of several individuals who have a relationship with the subject. Yet the most crucial component to 360 feedback success is not in the responses, but in the questions themselves.

Since they were popularized in the 1990s, most Fortune 500 companies have experienced this diagnostic tool as a way to determine areas for development and growth. Just as diagnostic medical exams are used to determine treatment plans, the 360 degree feedback assessment is the ideal diagnostic tool to determine an individual’s strengths and weaknesses before constructing a development plan towards superior performance.

A 360 degree feedback assessment is a very powerful tool when used under the right circumstances and for the right reasons. Unfortunately, when 360 degree assessments became popular, they were also widely misused, leaving behind a bad reputation in the business industry. With amateur questions, improper use of results and little follow-through, the 360 degree feedback assessment practice became scrutinized. Perhaps 360s have even left a sour taste in your mouth? While they should not be used as a basis for termination, promotions, performance reviews or popularity contests, 360 degree feedback assessments make a great resource for coaching, performance management, training, skill development and personal growth.

Is there a bad 360 question?
Yes, the key to effective use of a 360 degree feedback assessment is in the questions themselves. This means the challenge begins before the 360 feedback assessment is even taken. In fact, bad 360 questions usually start when someone chooses or writes 360 questions and does not have a clear focus on what the job requires for superior performance. Instead, their personal bias is projected on the questions which often times leads to nothing more than a personality contest.

What makes a good 360 question?
In order to be effective, all 360 degree feedback questions must be job related. To ensure relevant questions, they must reflect the key accountabilities and a clear understanding of personal skills, behaviors and motivators that a person should have in order to be successful in the position. Once you have identified these factors, it will be easy to determine which questions will reveal pertinent information.