Progressing at work and career advancement January 2011
1. Progressing at work and career advancement by Toronto Training and HR January 2011
2. Contents 3-4 Introduction to Toronto Training and HR 5-6 Definitions 7-20 New requirements for 2011 21-22 Kick start you career-accountants 23-24 Core factors of a top-drawer senior candidate 25-26 Four stages of career building 27-29 Taking stock of your assets 30-31 Exploring work possibilities 32-33 Raising your status 34-36 Getting to the top 37-40 Grab hold of your career 41-43 Who REALLY gets headhunted? 44-46 Moving forward 47-49 Are you promotable? 50-56 Why did I miss out on that promotion? 57-58 Conclusion and questions Page 2
9. Page 7 New requirements for 2011-General Counsel
10. Page 8 New requirements for 2011-General Counsel Business acumen Ability to interact with the board Experience managing an internal legal function Able to negotiate with regulators and watchdog agencies Strong external network Judgment needed to outsource legal work appropriately and cost-effectively Knowledge of new environmental regulations and green considerations
11. Page 9 New requirements for 2011-VP Supply Chain
12. Page 10 New requirements for 2011-VP Supply Chain End-to-end understanding of the supply chain Cost-conscious exploration of outsourcing and internal solutions Ability to partner with the CIO to improve interactions with customers and suppliers; technical savvy Experience running a business unit, managing a P&L, and interacting with customers Ability to collaborate across all business units and global functions and with the support organization
13. Page 11 New requirements for 2011-VP Human Resources
14. Page 12 New requirements for 2011-VP Human Resources Commercial acumen Understanding cultural differences & shifting demographics Change management skills; facility with cultural change initiatives The credibility needed to act as an internal adviser to the CEO and the board Ability to work with the board to manage succession Technological savvy Expertise in building compensation and performance into governance structures Skill at marketing the VP HR role to the rest of the firm
16. Page 14 New requirements for 2011-CFO 1 of 2 Experience that matches a company’s current needs—M&A experience for a company in growth mode, for instance, or a strong background in controls for a company that has experienced restatements or earnings violations Somewhat reduced focus on accounting skills and increased focus on strategic thinking Skill at finding the link between accounting and new business models and strategy
17. Page 15 New requirements for 2011-CFO 2 of 2 Understanding of risk and how to balance it with performance A stronger outward focus, particularly when it comes to investor relations (though CFOs still need to be good overseers on the accounting front) A global, as opposed to country-specific, approach to finance
19. Page 17 New requirements for 2011-CIO Ability to view the organization holistically, across functional, unit, and regional boundaries Process orientation and comfort with organizational design Information analytics knowledge; ability to help companies sort through and use information Expertise in investment allocation and using ROI to make decisions about future IT expenditures
20. Page 18 New requirements for 2011-VP Sales & Marketing
21. Page 19 New requirements for 2011-VP Sales & Marketing 1 of 2 Significant in-sector experience Experience handling the marketing challenges and opportunities presented by new channels Ability to serve as the CEO’s single point of contact for marketing, sales, and e-commerce
22. Page 20 New requirements for 2011-VP Sales & Marketing 2 of 2 Sophisticated technology know-how, as some distribution becomes more channel neutral; skill at managing relationships between commercial and technology executives Crisis and reputation management skills The ability to promote transparency and manage customer communities and public conversations
24. Page 22 Kick-start your career-accountants Set yourself clear targets Be ready to accept new responsibilities Learn new technologies Networking Be conspicuous
25. Page 23 Core factors of a top-drawer senior candidate
26. Page 24 Core factors of a top-drawer senior candidate Demonstrating strategic skills Building a strong management team Managing implementation Creating the capacity for innovation Lateral management Projecting executive presence
30. Page 28 Taking stock of your assets 1 of 2 Personal career assets What have you dreamed of doing? What are your values? What interests you? Positive and negative thinkers Clarifying your beliefs Skills-numerical, communication, leadership, sense awareness, using logical thinking, helping, organizational, technical, self-management, being creative & innovative
31. Page 29 Taking stock of your assets 2 of 2 What do you know? What kind of person are you? What are your work-related material assets? What relationship assets do you have? Creating a portfolio
33. Page 31 Exploring work possibilities Alternative ways of working Identifying work possibilities Investigating work possibilities Mixing and matching information Your work possibilities
35. Page 33 Raising your status Stop helping Hone your delivery Change your role Adopt a cause Take the lead Sparkle on stage Act proud Be hard to please Take criticism on the chin
37. Page 35 Getting to the top 1 of 2 Insiders Outsiders Board members Insider-outsiders Former executives
38. Page 36 Getting to the top 2 of 2 MAINTAINING MOMENTUM Find your flow Plan ahead Keep a sense of urgency Mix it up Check in Know the risks Delegate Get competitive Take a break Keep the prize in mind
40. Page 38 Grab hold of your career 1 of 3 Be self-managing Know what you have to offer Keep on learning Understand business trends Prepare yourself for areas of competence, not jobs Find a mentor Build financial independence Network, network, network Keep your resume up to date Create a vision
41. Page 39 Grab hold of your career 2 of 3 FALLACIES ABOUT HOPPERS Job-hoppers prosper A move should be a move up Big fish swim in big ponds Career and industry switchers are penalized
42. Page 40 Grab hold of your career 3 of 3 FLEEING THE PIGEONHOLE Identify areas of interest Look for fit Observe differently Shift from tasks to relationships Communicate your interest Get feedback
44. Page 42 Who REALLY gets headhunted? 1 of 2 Be self-managing Know what you have to offer Keep on learning Understand business trends Prepare yourself for areas of competence, not jobs Find a mentor Build financial independence Network, network, network Keep your resume up to date Create a vision
45. Page 43 Who REALLY gets headhunted? 2 of 2 Identification of the executives to be targeted Who is on the database? Attached and unattached executives Getting the approval of executives to be moved Comparisons between placements and executives who changed jobs through other means Matching executives, jobs and employers Lateral, downward or upwards
47. Page 45 Moving forward 1 of 2 Setting goals Building scenarios Confront your what-ifs Recognize resistance Keep on learning Your goals and strategies
48. Page 46 Moving forward 2 of 2 Expand your alternatives Make yourself useful Establish boundaries
50. Page 48 Are you promotable? 1 of 2 Do you call in sick less than three times annually? Do you work reasonable hours and have outside interests? Do you dress for success, even in uniform? Do you avert crises, rather than create them? Do you have high employee retention? Do your employees willingly handle problems in your absence?
51. Page 49 Are you promotable? 2 of 2 Do you know your priorities and manage by them daily? Do you support the team, up, down and across? Do you analyzeproblems deeply and propose solutions? Do you feel loyal to your organization?
53. Page 51 Why did I miss out on that promotion? 1 of 6 Decisions about who gets promoted can seem mysterious and arbitrary-stellar performance reviews and a strong track record but still getting passed over. What’s going on? In most organizations feedback is vague and confusing – sometimes intentionally, so as not to demoralize-it’s up to you to ferret out the real reasons you missed the job. For example, think twice when you’re told you need to work on “leadership” or gain more “seasoning.” These can be code words masking more specific concerns, like a failure to demonstrate strategic thinking or an inability to delegate.
54. Page 52 Why did I miss out on that promotion? 2 of 6 NON NEGOTIABLES IN EXECUTIVE CAREER ADVANCEMENT-factors that are absolutely necessary for you to be a contender Demonstrating consistently strong performance Displaying ethics, integrity, and character Being driven to lead and to assume higher levels of responsibility
55. Page 53 Why did I miss out on that promotion? 3 of 6 DE-SELECTION FACTORS IN EXECUTIVE CAREER ADVANCEMENT-characteristics that prevent you from being considered as a serious candidate Having weak interpersonal skills Treating others with insensitivity or abrasiveness Putting self-interest above company good Holding a narrow, parochial perspective on the business and the organization
56. Page 54 Why did I miss out on that promotion? 4 of 6 CORE SELECTION FACTORS-capabilities that breed others’ confidence in your ability to succeed at the senior executive level Setting direction and thinking strategically; spotting marketplace trends and developing a winning strategy that differentiates the organization Building and continually upgrading a strong executive team; having a “nose for talent”; establishing an adequate level of team cohesion
57. Page 55 Why did I miss out on that promotion? 5 of 6 CORE SELECTION FACTORS-capabilities that breed others’ confidence in your ability to succeed at the senior executive level Getting things done across internal boundaries (lateral management); demonstrating organization savvy; influencing and persuading colleagues; dealing well with conflict Growing and developing as an executive; soliciting and responding to feedback; adjusting leadership style in light of experience
58. Page 56 Why did I miss out on that promotion? 6 of 6 CORE SELECTION FACTORS-capabilities that breed others’ confidence in your ability to succeed at the senior executive level Managing implementation without getting involved at too low a level of detail; defining a set of roles, processes, and measures to ensure that things get done reliably Building the capacity for innovation and change; knowing when new ways of doing business are required; having the courage, tolerance for risk, and change-management skills to bring new ideas to fruition