MANAGING in the

NEW WORLD

Corporate Culture

Due to several reasons, companies go through transformations. This is particularly true for the present times due to the constant business disruptions. Most companies approach this in a linear fashion. Better will be to have it more dynamic as rarely will any logical sequence of action actually work out. With such disruptions occurring, new peaks may come up or newer frontiers open up. There are five broad strategies towards such change. The most common one is “planned itinerary” which is linear in nature. The complete opposite spectrum is “river crossing”, fraught with uncertainties. “Escape the swamp” is an approach where the organization simply runs away from its present status where it is decaying even if no solution yet devised. In “hill climbing” style, the mechanism is important and not the final outcome alone. The best means however is “scouting and wandering”. Here, maximum future options are kept open. Since the system is not rigid, it is most fertile ground for business innovations to flourish.

Source:https://bcghendersoninstitute.com/your-change-needs-a-strategy-2510061f51a9?linkId=52135136

Uploaded Date:20 July 2018

Like in life, even at workplaces relationship problems exist. The nature of inter-personal relationships is crucial to any company’s talent management and retention track record. Companies are increasingly becoming conscious of this so implementing mechanisms to cope with. The lack of fruitful work relationships can end up becoming a burden on a company while even creating mental health issues for the employees concerned. A pinball syndrome is common now where some of the better performers are unable to concentrate on their work, as they are busy trouble-shooting others’. This can lead to a vicious circle, a lot like the pinball games. Developing a sense of empathy for others around at the workplace is crucial. A collaborative team can best be coached into such a sense. Human resources needs to evolve to a more people-centric tole to facilitate such a transformation, necessary now.

Source:http://knowledge.wharton.upenn.edu/article/building-better-work-relationships/?utm_source=kw_newsletter&utm_medium=email&utm_campaign=2018-03-29

Uploaded Date:18 July 2018

Over the last one year, several global giants in their respective fields such as Coca-Cola and China Petroleum have changed their CEOs. These companies and several others have made the change due to their reasoning that the older style of management is no longer conducive to the expected disruption across industries. Organizational transformation could be on the business model, operations, work culture, corporate strategy or hierarchy. It is not comprised of a series of incremental changes, but a complete reboot that needs to be sustainable while altering the future course. The Boston Consulting Group (BCG) has been through more than seven hundred such business transformations in recent years, so certain insights have emerged on why some of them have been successful. One tactic followed across the board is that CEOs must strike a balance between near-term and future objectives. Transformative CEOs must also be able to reset investor expectations to be on the bolder side. A clear purpose must be in place for why the efforts must go towards the change. Digitization and agility should be part of the process. The talent recruitment by the CEO must aim at diversity especially towards the top end of the hierarchy. The leadership style must be inclusive of all and be hands-on towards the execution. The study also suggests that almost all entities require a rejig of some sort or the other. Winners may be separated from the others through a set of predictable factors. Usually external hires tend to do better at transformation than internal promotes. During this transformative journey, a sideways glance must be cast continuously on the revenue growth as well. Finally, the CEO must adopt a four-part strategy. These parts will include the preparation for the journey, arranging for its funds, constant improvisation for the future and organizing a sustainable route for long-term performance.Source:

https://www.bcg.com/publications/2017/transformations-people-organization-that-work-why.aspx

Uploaded Date:04 July  2018

One of the best tactics at effective talent management, is to manage promotions in the right manner. This has multiple impacts as the ones promoted tend to be better grounded and those not, feel extra motivation to be part of the pipeline. Such companies are five times more likely to feature in Fortune’s list of the hundred best places to work at. Stock returns too are about thrice the average with lower staff turnover and leaders in productivity. There exist certain steps to be followed during this entire process. First of all, the aspirations the company has need be clarified to the candidate pre-promotion. Then, each time a new post does come up, the leader must actively promote this position. A common grievance among employees is that announcements are made one the promotion is just a formality. Once the decision is made, employees must be engaged towards conviction, so they believe in the choice. A very good practice is to recalibrate with those who didn’t make the cut. Getting them onside will ensure that they will be motivated enough to try and get the jump next time out.

Source:https://hbr.org/2018/01/how-you-promote-people-can-make-or-break-company-culture?utm_campaign=hbr&utm_source=twitter&utm_medium=social

Uploaded Date:22 June 2018

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