by Tim Askew at Inc.
CREDIT: Getty Images
Management savant Peter Drucker supposedly said, "If you can't measure it, you can't manage it." The only problem with this frequently cited quote is that Drucker never said it. In fact, he actually said things quite the opposite. Like "Culture eats strategy for breakfast."
Last week I attended a fascinating all-day seminar at NYU's Stern School of Business titled "Ethics by Design: How to Use Nudges, Norms and Laws to Improve Business Ethics," sponsored by Ethical Systems.org, the Behavioral Science & Policy Association and CEO Trust. There were over 150 attendees, mostly top-drawer academics with a sprinkling of executives and entrepreneurs. I found it thought-provoking, useful, and even startling.
The day covered many topics, but the general trope was cautionary concerning our ubiquitous business emphasis on quantification, measurement, and goals. While acknowledging that goals can encourage persistence and performance, almost all seminar participants emphasized the caveat that rigid goals will have deleterious effects on corporate culture and long-term corporate health. While historic studies point to the positive impact of goals on increasing business performance, more recent research, including by many of the attendees and presenters, pointed to the the fact that overemphasis on goals encourages unethical behavior. The symptoms of this include increased moral disengagement, decreased individual self-regulation, and hazardous risk-taking.
for complete article: http://www.inc.com/tim-askew/the-slippery-slope-of-goals-and-incentives.html
Included in the article are quotes by Lisa Ordonez, Vice Dean at the Eller College of Management at the University of Arizona and by Marc Hodak, Managing Director of Hodak Value Advisors and professor at the NYU Stern School.
by: Jerry Dilettuso
Why is it that individuals sometimes behave in ways that deviate from their values and aren’t even aware that they are doing so? How important is context to ethical behavior? How is it that conflict of interest disclosure often leads an adviser to offer biased advice more freely? Why is it that managers will tend to manage the measure rather than focus on the activity or event measured? Why are employees often reluctant to speak up about problems and concerns? How can organizations create climates more open to employee input and honest upward communication? Has the corporate search for “best practices” in reality become a drive toward common practices as cautious boards gravitate toward a safe norm?
These are just a few of the questions contributors explored in Friday’s “Ethics by Design” Conference at New York University’s Stern School of Business. The event was a partnership between Ethical Systems and the Behavioral Science and Policy Association, with CEO Trust and support from NYU Stern School of Business.
The conference played to a packed auditorium. I was joined at the conference by fellow CEO Trustees who, like me, signed up and stayed for the entire daylong conference, which I thought was a testament to the importance of the topic and the quality of the content. Several Trustees spoke about their experiences, and many volunteered to facilitate lunch discussions. More than 20 of the most noted academics and practitioners in the field of ethics shared their research and insights, including Nick Epley, Professor of Behavioral Science at the University of Chicago's Booth School of Business; Ann Tenbrunsel, Professor of Business Ethics at Notre Dame’s Mendoza School of Business; Linda Trevino, Professor of Organizational Behavior and Ethics, at Penn State’s Smeal College of Business; Carsten Tams, SVP of Ethics and Compliance at Bertelsmann SE & Co. KGaA; and Brian Beeghly, VP of Ethics and Compliance at Johnson Controls, Inc.
Jonathan Haidt, Professor of Ethical Leadership at the Stern School, states, “Business ethics today is like medical practice was 50 years ago. It’s not based on evidence.” With the help of Ethical Systems and its collaborators, Jonathan believes we can design an ethical environment that makes moral behavior easy, automatic, and habitual, and thereby, “change the world.” I was proud that CEO Trust was a contributor to the discussion.
One of the things CEO Trust speaker Sydney Finkelstein learned about great leaders while researching his latest book Superbosses is how they are very particular in what they’re looking for when they hire talent. According to Sydney (Steven Roth Professor of Management and Faculty Director, Tuck Center for Leadership at the Tuck School of Business at Dartmouth College), working for a superboss is one of the best ways to turbo-charge your career, so it’s worth paying attention. And not just for CEOs, but for your kids, students, mentees... anyone trying to figure out what it takes to get a great job. His new BBC column outlines the three traits you’ll need to get hired by the best bosses.
By a CEO Trustee (member)
The Philadelphia chapter of the CEO Trust held a terrific breakfast event on March 22nd, hosted at the Clemens Food Group in Hatfield, PA, in their high tech Customer Experience Center. Participants enjoyed a private culinary breakfast along with a compelling presentation by Dr. Sydney Finklestein, Steven Roth Professor of Management in Dartmouth’s Tuck School of Business and the author of Superbosses.
Sydney addressed a group of some 25 Trust members and employees of the Clemens organization, focusing on why a very select group of high profile CEOS tend to spin out more talent than all the other CEOs in a given industry. His groundbreaking studies have shown time and again that these Superbosses have a common set of characteristics that drive the highest levels of motivation and performance in those within their direct sphere of influence, and he conveyed a few wonderful stories to demonstrate this thinking.
In the fashion industry for example, Sydney talked about an evening where one executive and his colleagues were dining out, and one of the members started up a discussion with three women at another table. The executive began to ask one of the women a series of questions about her rather unique (and attractive) attire, and at the conclusion of this particular executive’s dinner, he walked over to her table and offered her a job. He then handed her his business card and she was stunned to see that she had been talking with Ralph Lauren. Superbosses are always-on talent spotters - they don’t follow convention, they act.
In another example, Sydney described how the leader of one of industries largest investment funds, Julian Robertson, motivated his team. When one of Robertson’s particularly hyper-competitive and young rising stars closed a multi-million dollar deal, the young star expected immediate and enthusiastic praise from Robertson. When that didn’t come for days, the rising star became frustrated until finally several days later, Robertson walked by his cubicle and gave him a very subtle “nod” as he walked by. This infuriated the young star who vowed to “show” Robertson that he could do more. Robertson understood precisely how to motivate this young star and he understood the value of adjusting his interactions with his other employees to accommodate their passion and style. Needless to say, Robertson has spun off countless stars.
Sydney categorizes Superbosses into three primary categories: Iconoclasts (single-minded passion that motivates others - think Ralph Lauren), Nurturers (coaches, teachers, mentors - think Mary Kay Ash), and Glorious Bastards (single-minded focus on winning - think Larry Ellison). Do you know one of these types?
Ironically, the location for the event was totally appropriate given that another Superboss is Phil Clemens himself, the Chairman of the Clemens Family Corporation. He has a long history of developing not only a world class business, but also world class leaders, while exemplifying the characteristics of a servant leader. The business is one of the nation's oldest family-owned marketers of value-added pork products and related customer solutions. Sitting in their Customer Experience Center, it was easy to see that Phil and his team “get it”.
The group enjoyed a lively Q&A session with Sydney and received an autographed copy of his book. Can’t wait to read it cover to cover!
Special thanks goes to our gracious host, the Clemens Food Group, for welcoming us to their site.
by Challenger, Gray & Christmas, Inc.
Relocation among job seekers, which reached a post-recession high in the second half of 2014, fell back down to Earth in 2015 as widespread economic improvements reduced the need to move for employment opportunities.
The latest data on relocation rates shows that, on average, 11 percent of those finding employment each quarter moved for the new position. The data released Tuesday by global outplacement consultancy Challenger, Gray & Christmas, Inc. is based on a quarterly survey of approximately 1,000 individuals completing the job search.
Last year’s relocation rate was down from a four-quarter average of 13 percent in 2014 and 2013. Relocation reached a post-recession high in the second half of 2014, as 15 percent of job seekers pulled up stakes for new opportunities during the final two quarters of the year.
“It is typical to see these small windows of relocation surges. They tend to occur at the beginning of recessions and then again as the economy moves from recovery to expansion,” said John A. Challenger, chief executive officer of Challenger, Gray & Christmas.
“Last year definitely marked a turning point in the recovery. We finally regained all of the jobs lost as a result of the 2008-2009 recession and, by the end of the year, the national unemployment rate fell to 5.0 percent. Even with the struggles in the oil industry, the number of metropolitan areas throughout the country with unemployment rates below the national average continued to grow,” said Challenger.
It is with great sorrow that I announce the sudden passing yesterday of long-time CEO Trustee Joseph Tait. Joe joined CEO Trust pre-launch of the Philadelphia Chapter and was a key founding contributor. He has served in many leadership roles in the CEO Trust: Membership Chair, Program Chair and Board Member in both Philadelphia and Connecticut Chapters. Joe has been a CIO for a number of interesting and challenging companies over the past 15+ years. Most recently, he was CIO of Lydall, Inc., a global manufacturer located in Manchester, CT. Joe commuted weekly between his office and his home in the Philadelphia area. Many of us saw him at last week's Google training in Orange, CT. With his usual consideration, Joe wrote an email the next day to say what a fantastic program it was, and how much he enjoyed and appreciated the evening and the fellow CEO Trustees he saw.
Joe was a great friend, colleague, and mentor. He cared deeply about CEO Trust, nominated many new members and Chaired many programs. He exemplified the generosity of spirit that our organization represents. He was active in TENG and SIM, helping up-and-coming technology executives. He volunteered at his alma mater Temple and Drexel.
Joe is survived by his wife Joan and his son Josh, who is an IT professional. A funeral mass will be held on Wednesday morning.
We will miss Joe. Those of us who met Joe were fortunate to have known such a fine man. I am grateful for that.
UPDATE: There will be a celebration of Joe's life this Tuesday evening, March 22nd at the Simeone Automotive Museum (http://www.simeonemuseum.org/) in Philadelphia from 6pm to 9pm. All are welcome to stop by, greet Joe’s family, share stories with friends, and celebrate Joe's incredible and very full life. Wednesday, March 23rd at 10:30 am a full funeral mass will be held in Joe’s honor at St. Alphonsus Church, 33 Conwell Drive, Maple Glen, PA, 19002.
We had a terrific event at Race Brook Country Club in CT on March 9th, with good food & drink and a terrific speaker. Julie Murphy, founder of Oakwood Leadership, spoke to around 30 guests about the Search Inside Yourself leadership program developed at Google and backed by neuroscience. The interactive session looked at the impact of meditation & mindfulness and how organizations of all types are using these techniques to improve productivity and bottom line results. The results at companies like Google, Ford, and Genentech where it has been strongly adopted are impressive and really moved the needle!
Special thanks to our event co-sponsors, Charland Growth Advisors and Brody Wilkson, PC.
CEO Trust speaker, bestselling author Sydney Finkelstein, a Steven Roth Professor of Management, and Faculty Director, Tuck Executive Program (TEP), at Tuck Center for Leadership at Dartmouth, was recently featured on Fortune.com discussing his latest book, "SUPERBOSSES: How Exceptional Leaders Master the Flow of Talent."
On March 22, Professor Finkelstein will share with The CEO Trust the secrets of what makes a “superboss,” and describe how we can emulate the best tactics of superbosses.
Watch the Fortune.com video interview and read the full article here.
Click the following chapter names for details and registration information for CEO Trust’s Greater Philadelphia and New York City chapter events.
On February 17, CEO Trust's PA Chapter met best selling author, and CEO & President at Truth Initiative, Robin Koval to discuss her book "Grit to Great – How Perseverance, Passion, and Pluck Take You From Ordinary To Extraordinary." Robin led a lively discussion on research that shows the single biggest predictor of future achievement is the character trait of grit - a combination of guts, resilience, initiative and tenacity. Robin talked about how important it is to be focused on recruiting a staff with Grit. We discussed some of the characteristics of people with Grit, including: they are not afraid of risk and failures; they don’t mind doing several jobs; they are "nice." Robin also pointed out that a team with Grit will genuinely like each other, and gave examples why that was a great competitive advantage.
All participants were treated to their own complimentary copy of Robin’s book, which she signed and personalized for all. The breakfast event was hosted by Storeroom Solutions.
Sydney Finkelstein, speaker for CEO Trust’s upcoming SUPERBOSSES events, is featured in today’s Washington Post piece, “What makes a boss a ‘Superboss’.” Professor Finkelstein is the Steven Roth Professor of Management and Director of the Center for Leadership at the Tuck School of Business at Dartmouth College where he teaches courses on Leadership and Strategy. On March 22, Professor Finkelstein will discuss with The CEO Trust what makes a “superboss,” sharing fascinating stories of superbosses and outlining how we can emulate the best tactics of superbosses to create our own powerful networks of extraordinary talent. Read article below and click for event and registration info. for CEO Trust’s Greater Philadelphia and New York City chapter events.
What Makes a boss a 'Superboss'
by Jena McGregor February 11 at 9:59 AM
Most of us just want a decent boss. Someone who doesn't take credit for our work. Who doesn't mind if we don't immediately respond to an email sent after 11 p.m. Who actually asks us every once in a while how we're doing.
But Dartmouth business school professor Sydney Finkelstein decided to study what he calls "Superbosses" -- leaders who not only get their people to achieve great things but go on to become great leaders themselves. In his new book by the same name, Finkelstein examines the leaders who sit at the top of coaching trees, who inspired a generation of new leaders in an industry, and who've helped people move on to do their own thing -- even if it means letting them go.
In the process, he examines the protégés and careers of leaders like legendary football coach Bill Walsh, who launched the careers of so many future NFL coaches; fast casual dining pioneer Norman Brinker, whose employees went on to found many similar restaurant joints; and fashion magnate Ralph Lauren, who helped along designers ranging from Joseph Abboud to Vera Wang.
But don't get the wrong idea, Finkelstein says: "superbosses" are not necessarily nice, generous mentors. Rather, they tend to be motivated by their own goals, whether it's to win, improve their legacy, or better their own work or their own art. We spoke with Finkelstein about what we can learn from these "talent spawners." The conversation has been edited for length and clarity.
How'd you come up with the idea for the book?
I’m really into food. All kinds of restaurants. There was an article I was reading that showed a graphic of a famous French chef -- I wish I could remember who it was -- which talked about all his sous chefs and former sous chefs. It graphed out this tree, of how everybody went on after a period of time and worked at all these other really great restaurants, who used to work for this great chef.
I thought 'that’s really kind of cool,' and I wondered whether that’s true anywhere else, so I started to poke around. I wanted to know who’s the best of the best, and that’s what got me to [Chez Panisse chef and founder] Alice Waters. The evidence is pretty overwhelming -- the number of chefs and bakers and restauranteurs who worked for her.
I'd also heard stories in the past about [former San Francisco 49ers] coach Bill Walsh, and how he had a lot of former assistant coaches that had become head coaches. It turned out to be an overwhelming number. For everyone else, there was considerably less.
Full article here.