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UK Tourism displaces Banks in Carary Wharf
I listened with interest a feature on BBC Radio over the Easter holiday talking about how tourism should, be the UK’s main focus and make the UK the world’s leading holiday destination. The Royal Wedding, The Queen’s Jubilee and of course the London Olympics all expect to generate huge revenue from foreign and domestic tourism.
But it was not just events such as the Olympics that are highlighted as the main draws of tourist pounds. London, country houses and castles, the lakes and all parts of the UK were also mentioned in plans to make the UK a primary holiday destination.
UK tourist industry can’t relocate
One of the comments I particularly liked was, “The UK tourist industry can’t threaten to relocate their Head office abroad”. I chuckled at a vision of tourist boss’s taking over the top floor of One Canada Square to look over the jewel in the tourist crown (London) whilst displaced bankers roam the poorer parts on London with their posessions in a black bin liners looking for cheaper office space.
Business focus changes
I wonder if this represents the discussion, in some quarters, that perhaps the UK could cope with a less influential finance sector and that like past changes in the UK’s business such as the woolen industry, coal, steel, shipping and so on that, like nature, business abhors a vacuum and something would replace it, and why not tourism!
On the other hand instead on focussing on an either or solution perhaps the Banks and the Tourist Boards could share the top floor of Canada Square?
Ridiculous Job interview questions
I read with facination Anne Fisher’s article in Fortune magazine The Most Ridiculous Job Interview Questions asked by some leading companies to job candidates. She does defend them on the basis that the interviewers weren’t looking for correct answers but how the candidate responded to the question. So I asked some of my network how they might answer the questions.
Interview questions mentioned in Fortune include,
“Using a scale of 1 to 10, rate yourself on how weird you are.” — Capital One (COF)
“How many bricks are there in Shanghai? Consider only residential buildings.” –Deloitte Consulting
“You have three boxes. One contains only apples, one contains only oranges, and one contains both apples and oranges. The boxes have been incorrectly labeled so that no label accurately identifies the contents of any of the boxes. Opening just one box, and without looking inside, you take out one piece of fruit. By looking at the fruit, how can you immediately label all of the boxes correctly?” — Apple (AAPL)
Lack of expertise to anaylse answer
Most people thought the questions silly and was another “fad” that would probably not last. The reason being is that one has to be quite expert to analyse people’s reactions to situations to deterime “norm of behaviour” and most interviewers will not have that expertise.
Candidate’s rections
I’ve asked some friends of mine what their reactions would be to being asked such questions and here are some of the answers.
a) I would assume that the interviewer was “barking” and probably be impossible to work with.
b) To the bricks question from Deloitte I’d answer “Three” and then add “Red, Grey and Brown”
but my favourite answer was:
C) Answering the “weird” question I’d say “How weird do I have to be to get the job?”
No commentsIs it OK to search the internet for information on job candidates?
A couple of people have asked me recently if it’s acceptable to search the internet for information on potential job candidates.
Information on the public platform
I think that it’s inevitable that potential recruiters will search the internet for details of their candidates. The information is in the public platform and often uploaded by the individual themselves. As such I think that it’s a good indication of personality, behaviour and the lifestyle of a potential candidate.
It would also give an indication of the candidate’s ability to use IT and to utilise correct grammar and good design. The hiring company then have another source of informationand on the candidate.
Reader’s Prejudices
The main problem, I think, is potentially the “prejudices” of the person reading the material. Pictures of the candidate drinking at parties or on holiday and might be mininterpreted. I have heard of candidates that have lost out on jobs as a result and this must be an extension of the “Horns & Halo effect” we are all used to in the interview process.
Andrew Lloyd Webber
What is interesting is those sites that are professionally managed for people. Let’s give an example. Andrew Lloyd Webber admits to not answering email, nor having a mobile phone nor, it seems, has the ability to open up a computer (See Piers Morgan’s interview on ITV) yet he has a superb website with updates on him, his work and his music. Obviously managed by others and very well it is too.
The question I have here is:
If a bad site produced by the job holder could be destructive in gaining a job, would paying someone to manage your profile on-line give someone an “unfair advantage” in the job selection stakes even if they were IT illiterate?
Arrogance ends up being expensive!
Some months ago I was contacted by someone saying that a friend had given them my name and contact details and, after hearing all the positive things said about me, would love to meet me. Well what would you have done… Delighted, I said “of course”.
“Something’s come up…”
Meeting was a bit difficult as we lived over a three hour journey from each other and so a one hour SKYPE call was arranged. On the day scheduled for the call I received an email saying that “something had come up” and could we rearrange. Something coming up happens to the best people and naturally I agreed.
Second appointment
After I had juggled my diary a little bit we diarised a time for the second SKYPE appointment and another hour was set aside . Now, let’s agree that video conference meetings are appointments. Just that they are over the computer screen. Then a few hours before the time I received another email, “Sorry, I’m up to my eyes, can we reappoint. I’ll call you”
Would I be desperate to try to meet for a third time?
I was staggered by the arrogance that not once, but twice my time was seen as being unimportant, that her obvious inability to manage her time should inconvenience me and that I would be desperate to try a third time to meet with her! Since then I’ve received newsletters and various other updates about her business with offers to purchase products but no aplogy.
It ended very expensively
Yesterday I had a meeting in The City of London and her name came up in conversation. I related the story of the failed SKYPE Calls and within a flash, that even surprised me, her involvement in any future projects was rejected. It just shows that arrogant rudeness can end up being very expensive!
Change that costs too much!
It never ceases to amaze me how often business change fails and how many change initiatives end up costing huge amounts on money in lost opportunities.
BETFAIR parts with Chief Executive
For intance yesterday’s Sunday Telegraph business section reported that BETFAIR has parted company with their Chief Executive just three months after the online trading platform had been launched. “In recent months analysts have questioned how successful the roll-out has been” of the LMAX platform and the shares have fallen 25% in less than six months.
Another example I observed last weeek was a sales team that had restructured to allow the team to concentrate on “High net worth clients”. Those clients not lucky enough to be categorised in the high net worth category would, in future, be dealt with from a call centre. Sales have subsequently fallen dramatically as the majority of sales came from small purchases. Now categorised as “insignificant” these customers reacted badly to being advised by people who did not have the experience to advise them properly. Result reduced sales and lost clients.
Executive Paralysis
Too often a contributory mistake is “Executive Paralysis” in identifying and accepting that initial thinking and planning could be flawed and to have a back-up plan. This rejection of potential failure creates a position that when fallback options are needed they are introduced with a sense of panic, adding more to the “costs of lost opportunity”
“Not my fault…blame him”
Last Saturday I visited my Mother and little did I realise that I would have a lesson in how embarrass customers, employees and in poor management.
An outing for Mother
My Mother has just broken her arm and is feeing very sorry for herself. So I decided to take her to a hotel for a favourite outing of afternoon tea. With great anticipation we drove up the long hotel drive in Miskin, South Wales, for a relaxing afternoon overlooking the large gardens to find that there was just one other couple in the lounge.
To say that the meal of sandwiches, cakes, scones and even the service was disappointing would be an understatement. On leaving my Mother, an excellent cook in her time, caught sight of the manager and mentioned the fact and said that at £25 ($32) she considered the meal overpriced and lacked value.
The person responsible
The manager asked us to wait a minute. I wondered if some adjustment was about to be made to the bill. To my surprise he reappeared with the chef saying, “This is the person responsible, make your complaints to him” and then without waiting to hear what we had to say ran off on another errand. My Mother was at a loss to know how to handle this unusual situation and I outlined the problem in the gentlest terms to an embarrassed and petrified member of staff.
“The scones had been freeze-chilled and therefore had a consistency of being stale, the profiterole was similar and lacked any taste in the filling such as vanilla and the bread on the sandwiches was too thick to be able to taste the fillings…”. By this time I began to feel extremely sorry for the chef who was looking quite helpless. I end his torment I smiled and described the meal as “uninspiring”.
Not a customer’s job
We left vowing never to return. Not because of the poor tea but because, as customers, it was not our job to instruct the staff, that’s the manager’s job. It’s also not the kitchen staff’s job to be appraised of a “poor job” by customers, that again is the management’s job. I also attached the chef’s poor performance on lack of training and expectation by the management.
My offering of help!
However, as I love to cook cakes, pastries and have a wide collection of Indian, Chinese and Japanese teas I would be delighted to offer to show the manager how he could instruct his kitchen team and waiting staff to deliver a fresh, great tasting and perfectly served afternoon tea. That way he can manage to do his job!
“Don’t delegate if you want it done properly”
A few days ago I answered a question on delegation on LinkedIn and then on Friday was having a robust discussion on delegation with a friend in my network and thought I would share the discussion with you.
“Delegating could harm a career and promotion prospects”
Was the statement made by the senior manager in my network. He reasoned that obvious errors cost the business money and impacted on mission critical outcomes. Then with the time taken to recover from from errors delegating tasks took up valuable management time and could “harm his career and promotion prospects”.
“Management style didn’t encourage mistakes”
It seemed that his “management style”, and that of the business, didn’t tollerate mistakes. I pointed out that if the management don’t tollerate mistakes then there will be little room for experimentation. If people can’t experiment then, those that use experimentation to learn, will become frustrated and tend to leave to businesses that will allow it.
Experimentation is healthy. It’s how we learn to improve at any hobby, computer programme and game, even how to socialise and make friends. But, it seems that when people become managers they often have to be trained in how to encourage and manage it.
In any event lack of experimentation, from my experience, only helps competitors forge ahead with more efficient processes, products and customer focussed thinking.
The process
I explained the process my mentors showed me and which I’ve have adopted and train:
a) Discuss the subordinate’s idea with them. Be open minded, highlight potential problems as you see them, business issues and consequences of success and failure.
b) If the subordinate still wants to proceed then discuss the process they will be using and then provide support (physical as well as verbal) and have a plan to pick up the pieces.
c) If the subordinate is successful. congratulate and say how delighted you are and tell everyoneone else what a success it’s been. If it’s not a success then discuss the reasons with the person, then ask how they intend to recover the situation. Again provide increased support but don’t blame, chastise or bad mouth to others – (after all you made the decision to allow the experimentation and would have looked good if it had succeeded).
d) Turn the entire process, success or failure, into a learning situation by analysing what went right / wrong with the subordinate and what could be done differently next time. Either way make the subordinate “feel good” about the process and your support.
I’m not sure my friend was convinced by my arguments. Then I must admit he’s been secure in his current job for the past twelve years, despite higher than average team turnover and mediocre company results and doubtless will be there for a good while longer!
Time Is The Enemy Of Change
In the past few weeks I’ve been reminding people how time is often the enemy of change. Reading the business papers I’ve been struck by how many businesses and even Government accepts the “need to change” to reduce costs, increase productivity and remain competitive but seem to ignore the time trap.
The alcohol “responsibility deal” brokered by the UK Government and supported by Asda, Heineken but only signed up to by Tesco, Marks & Spenceer and others is just one example.
Managing change creates frustration
Managing change creates frustration for those implementing it and those that have to work with the consequences. This frustration often creates delays, huge additional costs, lower productivity and result in poor staff morale as organizations take account of the economic cycle, merge and seek to become more competitive.
The time trap factor
One of the crucial factors for those designing change within organizations is the time factor. Yet time is the one part of the equation that is ignored, often with disastrous consequences
To understand the time trap factor let’s remind ourselves how change is planned and implemented. For some months plans will be made to improve systems or organizations. The people that work on these plans consider future benefits, implementation plans, risk analysis flow charts etc. Once all the plans have been finalized and an implementation process agreed, the time frame for these people has moved to the present and their outlook is to the future.
Different time frames
On the day that the wider world, generally those people that are affected by the changes, are informed, the managing group or government minister are full of confidence and optimism for the improvements that the future will bring. The group being affected, however, are in a different time frame. Their experience is based upon the past and, even if that experience was understood to be inefficient, there is comfort in what people know and understand.
All change produces winners and losers. The winners will move their time frame to the future and the losers will move further into the past. In addition each group will be seeing the change from the perception of not “Is this change good for the organization” but from the personal standpoint of “Is this good for me”
The trick is to move as many people to the future time frame as possible, right from the start. The more people that talk about the future change in positive terms the greater the chance of success. Errors, however, revolve around poor communication, hurried change, poor planning and implementation.
The result is the creation of two camps.
Those viewed as being supportive of the change and those that are seen as being unsupportive. When this happens it’s interesting to observe that once people are viewed as being in the unsupportive group by the change leaders it’s very difficult for the individuals to move themselves out of this group in the minds of others. In a company situation such staff will often feel forced to leave.
Ignoring the time factor may not reduce the need for change, it may, however, increase the frustration and management effort needed to implement it.
Talent loss during a M&A
There can be few business events that have the potential to create chaos, lose key people and adversely affect morale than a merger and acquisition. Last week I became aware of a number of businesses as well as a couple of charities that are merging in order to reduce costs and create a better platform for survival.
Process of an M&A
The process can be viewed as a pre acquisition and post acquisition. Pre acquisition establishes a good business fit. Post acquistion comprises of making it work. The businesses seem to be on the right track whilst the charities, having argued for over twelve months, are likely to find the process depressingly difficult and expensive.
Key People will leave during the second phase
During the pre acquistion phase both organisations will have established where savings can be made and implementation starts post acquisition. Whilst some leavers will have been identified by the new company and be made redundant there will be a significant portion of the top talent that will decide to leave because they don’t like the new culture or management style.
My research shows that acquired companies lose almost 50% of their key people within twelve months. One insurance company that I know of lost 80% of the staff over a two year period. Those staff that leave first tend to be those described as “Key people”
Who’s in charge?
Many M&A’s start by trying to adopt the best practice from both companies in terms of culture and management style. This invariably results in a three humped camel with people being confused as to the “norms” expected of them. It’s better to adopt one set of rules and thus establish clear anticipated results.
To maintain productivity keep people informed
One of the charities I’m observing is telling its people that there will be no change to their work, benefits and prospects. In reality it’s aware that the senior partner in the merger is planning to reduce staffing levels and set different results criteria and because the staff don’t believe what they are being told productivity has all but ground to a halt.
It’s estimated that at least 360,000 hours of productivity can be lost during an acquisition of a company with just 1000 people*. They stop becasue they are establishing the new political agenda and determining influence groups and listening to the rumour factory working overtime.
During 2011 there is likely to be an increase in M&A’s and it’s worth considering that effort and planning has to be made to retain the key people that are needed to make the post M&A a success.
* The complete guide to M&A’s by Timothy Galpin and Mark Hendon
No commentsDo self-help programmes really work?
I’ve been struck in recent months by the number of products being offered for improving or developing a persons personal “brand” or “image”.
There’s a profusion of courses, books and CD programmes that promise instant impact with those you meet and lead, career success and, of course, instant riches by creating the “right impression”, “instant respect” or being seen in the right places.
Now, don’t get me wrong, I’m not saying that these things aren’t important. It’s only an idiot who thinks that dress, image and an ability to communicate aren’t vital to one’s career. Indeed it’s only a few days ago that I spent some time persuading an aspiring manager that having the 007 ringtone on his mobile might not be creating the best corporate image.
I’m also a fan of trainers who train people to describe themselves and what they do in a more succinct statement than some of the sermons we have to suffer at networking meetings. Actually I subscribe to the rule that an “elevator pitch” that’s greater than 35 words is a waste of the listener’s and speaker’s time.
However, I feel sorry for those that buy these programmes simply as Pollyfiller for the chip on their shoulders or who believe that it will produce instant and lasting results. One book isn’t enough to change a person overnight from a boring fart to a sparkling raconteur. What it can do is to make the person aware of the improvements they can make with effort.
I agree with a well known founder of a social media network who recently said to a group of delegates at a conference on the topic of self-wealth programmes, “Remember, no-one’s interested in making YOU rich!”