Why Feedback Can Make Work More Meaningful

Posted on

 

 

 

by Rachel Pacheco

 

If you’re like most managers, you probably hate giving constructive feedback to your team. It’s awkward, it’s uncomfortable, and it often doesn’t work. You may question whether it’s worth the trouble to tell an employee that what they’re doing is wrong. Is it worth the risk of a long-drawn out conversation when there are more pressing things to do? Is it worth the risk of hurting a team member’s feelings or opening the door for potential conflict? Perhaps you answer “no” and deprive your employees of the constructive critiques that aid in their development — and that they deeply crave.

For years, I’ve taught feedback in my courses, coached executives on how to give feedback effectively, and run countless feedback workshops. What I’ve found is that managers fully understand most of the reasons why feedback matters. Managers have long been told how feedback is critical to organizational success. They attend training after training to learn how to give effective feedback in order to manage underperformers and ensure that employees are on the right track with their work. Managers also learn that feedback is a necessary ingredient for a company culture built on trust, accountability, and compassion.

But what’s often missing from the conversation about the importance of feedback is the real reason why it matters: Feedback is a critical tool for helping employees find deeper meaning in their day-to-day work.

Employees crave meaning. Once basic job needs are met (e.g., fair salary, safe working conditions), meaning is what employees most desire in their job. This desire is especially important for Gen Z. Nearly 75% of Gen Z workers say that a sense of purpose in their jobs is more important than pay, according to research by the job site, Monster.  And meaning matters: studies show that employees who have more fulfillment and meaning in their day-to-day work have higher productivity, greater retention, and overall greater job satisfaction.

The feedback that you give your team members has a direct impact on day-to-day meaning. Effective feedback can help imbue even the most mundane tasks with a deeper sense of purpose.

Here are three reasons why feedback can create more meaningful work, and how you as a manager can make sure your feedback conversations are designed for maximum meaning. Continue reading →

What Makes a Good Leader? Here’s What I’ve Learned After 20-Plus Years as a CEO

Posted on

 

 

 

 

Story by Jason Hennessey

What makes a good leader?

Ask any entrepreneur, and you’re likely to get different (albeit, pretty similar) answers. You might have heard that a good leader is strong, decisive, confident and honest. Or perhaps a “good” leader to you is optimistic, creative and forward-thinking.

After over 20 years as a CEO, I can tell you, my definition of “leader” has evolved over time. Facing challenges, resolving personnel conflicts, making mistakes and overcoming burnout will do that to you. So, while I don’t claim to have the textbook definition of leadership, I can share what I consider to be the essentials when it comes to being a positive, compassionate leader. And I’ve learned that entrepreneurial leadership crosses every sector of business.

1. Set intentional habits

A leader is someone who is intentional with their habits. Whether you’re part of the “rise and grind” crowd or prefer a more leisurely pace, you’ve given thought to how you manage your day, your health and your business.

As an entrepreneur, my routine is everything — not because I require regimented time blocks, but because, if I didn’t set priorities, what’s important to me would go by the wayside. By setting intentional habits, I know I’ve created time for my physical health, mental health, family and leisure, in addition to the responsibilities of my business.

Without intention, we are at risk of falling victim to bad habits. Distraction and avoidance become our downfall. A great leader knows their priorities, directs energy to the activities likely to have the greatest impact and manages their time, not the other way around. Continue reading →

The Art of Delegation

Posted on

 

 

 

 

by Eliot Gattegno , Athena, and Nadav Klein, INSEAD

 

A framework for developing this critical leadership skill.

Consider this man. He takes daily post-lunch naps and frequently dozes off in a lounge chair after dinner. He spends his afternoons at home rather than at the office, tending to his garden and golfing. He spends months away from work on vacation. He prides himself on avoiding “hustling”. “I’m here because I shirked: [I] did less work,” he reflects.

Many people may look askance at such a guy, but in fact this was how John D. Rockefeller, arguably the wealthiest man in modern history, spent his days. Rockefeller attributed his productivity not to his own hard work, but rather to his ability to delegate; He was able to assign responsibility to people in his organisation so that the work could be scaled as effectively as possible. 

The challenges of delegation

Delegation skills are just as important today, albeit in short supply. A Gallup study found that superior delegation skills of a company’s management corresponded with greater revenue and business growth. However, according to a 2007 survey by the Institute for Corporate Productivity, about half of the companies that responded had concerns about employees’ delegation skills. Yet, only 28 percent offered delegation training. More recently, a 2021 survey found that delegation was rated as the second most important skill behind empathy in mitigating employee burnout, but only 28 percent of participants said they were receiving training in this area.

Among the reasonswhy leaders under-delegate, perhaps the most important one is that there is currently no clear framework for delegation. This lack of structure leads to a superficial view of the practice, where it is merely seen as something that leaders must do more of, somewhat similar to visiting the gym more regularly. While we generally agree that delegation should be practised more frequently in many organisations, the key is in understanding how to delegate, and how much. Just as a workout routine is necessary for gym sessions to be useful, a basic framework is needed for delegation to be effective.  Continue reading →

5 steps to take to get a promotion in 2025

Posted on

 

 

 

 

by Jared Lindzon

 

Americans hoping for a promotion in 2025 should prepare to face stiffer competition.

Economic instability took a bite out of payroll budgets in recent years, and as employers finally find themselves in a position to start dishing out raises and promotions again, they’re expected to have their fair share of worthy candidates to choose from.

According to a recent survey of 2,000 employers by ZipRecruiter, most are anticipating stronger earnings this year, and intend to use some of those funds to increase compensation. Roughly 55% are planning modest pay increases of 1% to 4%, and about a quarter expect to bump up salaries by 5% or more. By comparison, nearly half of employers planned to reduce payroll budgets this time last year.

While that’s good news for employees, the significant swing in employer sentiment means many promotions have been deferred, and more employees are waiting in line for their next career advancement opportunity. At the same time, a weakened economy has resulted in less job-hopping in recent years, meaning there are fewer vacancies to fill.

“We’ve seen overall quit rates drop, and there’s not a lot of turnover within companies, so people are staying in their positions longer, meaning there’s potentially fewer spots available,” says Amy Garefis, ZipRecruiter’s chief people officer. “So, it’s even more important to stand out from a group of people that may be tenured, all vying for the limited promotion positions available.”

Here are a few key steps that employees can take to help their odds of getting one of those coveted promotions in 2025:

1. Don’t be indispensable

Those looking to move up the career ladder this year need to walk the fine line between effective and irreplaceable, says Garefis. Continue reading →

From Hire to Hero — 4 Strategies for Onboarding Senior Executives

Posted on

 

 

 

 

by Bidhan Baruah

 

Finding the perfect hire for a senior executive position can take months of searching and interviewing — but that’s only half the battle.

Without an effective onboarding strategy, you may end up repeating your search in 12-18 months. Whether you let them go for failing to hit their target or they leave out of frustration, the result is the same.

When that happens, you’ve not only wasted time and effort, but you’ve also lost a substantial chunk of your budget. Gallup research shows that it costs one-half to two times an employee’s salary to replace them — and a senior executive’s salary is substantial.

Their departure also leaves a hole in your leadership structure that can impact team morale and productivity.

Therefore, hiring and retaining senior executives requires a flexible onboarding process that strategically integrates them into their new roles and the company as a whole.

1. Start before their first day

Expecting new hires to “hit the ground running” doesn’t make much sense. Why would you want them running before they know where the goal line is? They may end up heading in the wrong direction.

It’s much more effective to give them a map of the territory and let them get their feet under them. Prepare all the information they’ll need and have it ready before they walk in the door for the first time: key stakeholder names, organizational charts, a background on their department and team, etc.

That’s not to say you should dump it all on the new executive all at once. To avoid overwhelming them, gradually provide the information over their first two or three weeks. Continue reading →