I came across an article on5 ways to make yourself invaluable at work. You can access the article by clicking on the link below:
http://www.kcra.com/new-years-resolutions/26712294/detail.html
One of the ways mentioned in the article is "Having a Good Attitude". I think this is top of the cream when it comes to adding value to your company.
Skills can be taught, experiences are gained over time, but attitude is a choice. We can choose to complain or to learn. We can choose to smile or to frown. We can choose to be friendly or not to be. We might not have a choice over how other people respond to us or how our environment pans out, but, we have a choice on how to respond to people or our environment.
I once had an opportunity to hire a highly skilled and talented individual for a position in a company. One of the things that discouraged me from hiring this individual was the attitude I saw. Bad attitude is like cancer, it starts small but can spread to the rest of the organization if not nipped in the bud.
How has your attitude been lately? Never forget that it is a choice. No matter how skilled or intelligent one is, a wrong attitude will get them no-where...
You Are Truly Unique...
Patrick
Monday, February 21, 2011
Thursday, February 10, 2011
Five Ways to Find Value
By HARVEY SCHACHTER
Special to Globe and Mail Update
Improve the target company's performance
You buy the company, and then radically reduce costs to improve margins and cash flows, or perhaps initiate changes to stimulate revenue growth. This is the most common value-creating strategy, a staple of private-equity firms.
"Among successful private-equity acquisitions in which a target company was bought, improved, and sold, with no additional acquisitions along the way, operating-profit margins increased by an average of about 2.5 percentage points more than those at peer companies during the same period. This means that many of the transactions increased operating-profit margins even more," the authors write.
They advise you to keep in mind that it is easier to improve the performance of a company with low margins and low returns on invested capital than ones with high margins and a high return on invested capital.
Consolidate to remove excess capacity
As industries mature, they typically develop excess capacity, as the higher production of the original firms and new capacity from recent entrants generates more supply than demand. After an acquisition, companies are more willing to close plants across the larger combined entity than they were previously when that would have meant ending up a smaller firm.
The consultants note that consolidation in the pharmaceutical industry has significantly reduced the sales force and research and development expenditures. However, they warn: "While there is substantial value to be created from removing excess capacity, as in most M&A activity, the bulk of the value often accrues to the seller's shareholders, not the buyer's."
This is different from roll-up strategies, which are far riskier, as a company consolidates a highly fragmented industry where current competitors are too small to achieve scale economics. Often it proves impossible to realize the substantial cost savings expected, and copycats move in, bidding up acquisition prices.
Accelerate market access for products
An acquisition can help a relatively small company with innovative products reach the entire potential market for their products. This often happens with small pharmaceutical firms; they are purchased by the giants, which have the large sales forces to take new products to physicians. It also happened with many of the 70 tech companies IBM purchased between 2002 and 2007; IBM estimates it increased those companies' revenues by almost 50 per cent in the first two years after each acquisition, thanks to its global sales force.
Get skills or technologies faster or at a lower cost than they can be built
In the 1990s, Cisco Systems used acquisitions to close gaps in its technologies, allowing it to assemble a broad line of networking products, moving a company with a single product line into the key player in Internet equipment.
Pick winners early and help them develop their businesses
A company can acquire other firms early in the life cycle of a new industry or product line, long before competitors sense the possibilities. Johnson & Johnson managed this with early acquisitions of medical-device businesses Cordis in 1996 and DePuy in 1998, both of which grew at 20 per cent annually afterward.
But the consultants advise the strategy requires a disciplined approach. You must be willing to make investments early, long before others see the company's potential. You need to make multiple bets, since some will fail, and you also need the skills and patience to nurture the acquired businesses.
source: http://www.theglobeandmail.com/report-on-business/managing/morning-manager/five-ways-to-find-value/article1896835/
Special to Globe and Mail Update
Improve the target company's performance
You buy the company, and then radically reduce costs to improve margins and cash flows, or perhaps initiate changes to stimulate revenue growth. This is the most common value-creating strategy, a staple of private-equity firms.
"Among successful private-equity acquisitions in which a target company was bought, improved, and sold, with no additional acquisitions along the way, operating-profit margins increased by an average of about 2.5 percentage points more than those at peer companies during the same period. This means that many of the transactions increased operating-profit margins even more," the authors write.
They advise you to keep in mind that it is easier to improve the performance of a company with low margins and low returns on invested capital than ones with high margins and a high return on invested capital.
Consolidate to remove excess capacity
As industries mature, they typically develop excess capacity, as the higher production of the original firms and new capacity from recent entrants generates more supply than demand. After an acquisition, companies are more willing to close plants across the larger combined entity than they were previously when that would have meant ending up a smaller firm.
The consultants note that consolidation in the pharmaceutical industry has significantly reduced the sales force and research and development expenditures. However, they warn: "While there is substantial value to be created from removing excess capacity, as in most M&A activity, the bulk of the value often accrues to the seller's shareholders, not the buyer's."
This is different from roll-up strategies, which are far riskier, as a company consolidates a highly fragmented industry where current competitors are too small to achieve scale economics. Often it proves impossible to realize the substantial cost savings expected, and copycats move in, bidding up acquisition prices.
Accelerate market access for products
An acquisition can help a relatively small company with innovative products reach the entire potential market for their products. This often happens with small pharmaceutical firms; they are purchased by the giants, which have the large sales forces to take new products to physicians. It also happened with many of the 70 tech companies IBM purchased between 2002 and 2007; IBM estimates it increased those companies' revenues by almost 50 per cent in the first two years after each acquisition, thanks to its global sales force.
Get skills or technologies faster or at a lower cost than they can be built
In the 1990s, Cisco Systems used acquisitions to close gaps in its technologies, allowing it to assemble a broad line of networking products, moving a company with a single product line into the key player in Internet equipment.
Pick winners early and help them develop their businesses
A company can acquire other firms early in the life cycle of a new industry or product line, long before competitors sense the possibilities. Johnson & Johnson managed this with early acquisitions of medical-device businesses Cordis in 1996 and DePuy in 1998, both of which grew at 20 per cent annually afterward.
But the consultants advise the strategy requires a disciplined approach. You must be willing to make investments early, long before others see the company's potential. You need to make multiple bets, since some will fail, and you also need the skills and patience to nurture the acquired businesses.
source: http://www.theglobeandmail.com/report-on-business/managing/morning-manager/five-ways-to-find-value/article1896835/
Monday, February 7, 2011
Value to The Customer
I had an interesting experience with my son yesterday. My son is 33 months old and loves cereal. As I brought out his breakfast, I mistakenly put a big spoon in his bowl of cereal and handed it over to him. Immediately he started eating, I realized my mistake, went back to the kitchen, got a small spoon, and replaced the big spoon with the small spoon. On realizing the switch, my son refused to eat and started crying. After trying all my parenting skills to get him to use the small spoon, I had to succumb to his request and returned the big spoon to him. From his perspective the bigger spoon represented more value than the smaller spoon did.
Quality in a product or service is not what the supplier puts in. It is what the customer gets out and is willing to pay for. A product is not quality because it is hard to make and costs a lot of money, as manufacturers typically believe. This is incompetence. Customers pay only for what is of use to them and gives them value. Nothing else constitutes quality. Peter F. Drucker,
In the market place, the customer's perception of a product's value determines how much they are willing to pay for the product or service. The value of a product or service is directly correlated with the type of problem the product or service solves for the customer - the benefits to the customer. This is why good sales personnel emphasize the benefits of a product or service more than the features. A business willing to remain relevant in the market would have answers to the questions: what value are we adding to our customer; how are the benefits of our products and/or services different from that of our competitors?
No matter how valuable an organization thinks a product or service is, if the customer does not perceive the advertised value at the same level as the seller, they will be reluctant to pay the asking price for the product or service. Value is determined by the market place, by the customer. The benefits - to the customer - of an organization's products or services must be understood, appreciated, realized and felt by the customer.
You Can Only Get What You Want, If You Help Enough Other People Get What They Want...Zig Ziglar
Quality in a product or service is not what the supplier puts in. It is what the customer gets out and is willing to pay for. A product is not quality because it is hard to make and costs a lot of money, as manufacturers typically believe. This is incompetence. Customers pay only for what is of use to them and gives them value. Nothing else constitutes quality. Peter F. Drucker,
In the market place, the customer's perception of a product's value determines how much they are willing to pay for the product or service. The value of a product or service is directly correlated with the type of problem the product or service solves for the customer - the benefits to the customer. This is why good sales personnel emphasize the benefits of a product or service more than the features. A business willing to remain relevant in the market would have answers to the questions: what value are we adding to our customer; how are the benefits of our products and/or services different from that of our competitors?
No matter how valuable an organization thinks a product or service is, if the customer does not perceive the advertised value at the same level as the seller, they will be reluctant to pay the asking price for the product or service. Value is determined by the market place, by the customer. The benefits - to the customer - of an organization's products or services must be understood, appreciated, realized and felt by the customer.
You Can Only Get What You Want, If You Help Enough Other People Get What They Want...Zig Ziglar
Thursday, February 3, 2011
Value Added
I've had the opportunity to work for several organizations and interact with a lot of employees. One of the phrases I kept hearing is "I am not paid enough". It is true that some companies don't pay their employees well, but in several occasions, I've had to sit back and almost ask the individual a single question: "what value are you adding to the organization"?
To increase your pay-check, increase your value-check
Everyday I keep asking myself - what value are my adding to the organizations I work for? Some things I do to increase my value-check includes:
1. Looking for opportunities to solve difficult problems
2. Continuous learning - seeking for opportunities to learn more about the businesses I work for
3. Anticipating organizational change, doing a skills and/or knowledge inventory, and looking for ways to acquire the necessary skills or knowledge I need to play in the new world
4. Doing more than what I am paid to do
5. Over-delivering on assignments
6. Learning from my mistakes on the job
7. Praying about challenges I encounter on the job
8. Looking for opportunities to get involved in corporate initiatives, committees, and campaigns
9. Looking for opportunities to help others become the best in what they do (and learning from them)
10. Actively contributing in discussions at work
11. Walking in integrity - what I do when my manager is not looking or checking on me
Now these might not be the same for you as work environments differ in so many ways. I sometimes falter in doing one or more of the aforementioned, but, have learnt to use my failures as manures for more growth.
Have you seen a man who is expert in his business? he will take his place before kings; his place will not be among low persons. ...Prov 22:9 (BBE)
You Are Unique
Patrick
To increase your pay-check, increase your value-check
Everyday I keep asking myself - what value are my adding to the organizations I work for? Some things I do to increase my value-check includes:
1. Looking for opportunities to solve difficult problems
2. Continuous learning - seeking for opportunities to learn more about the businesses I work for
3. Anticipating organizational change, doing a skills and/or knowledge inventory, and looking for ways to acquire the necessary skills or knowledge I need to play in the new world
4. Doing more than what I am paid to do
5. Over-delivering on assignments
6. Learning from my mistakes on the job
7. Praying about challenges I encounter on the job
8. Looking for opportunities to get involved in corporate initiatives, committees, and campaigns
9. Looking for opportunities to help others become the best in what they do (and learning from them)
10. Actively contributing in discussions at work
11. Walking in integrity - what I do when my manager is not looking or checking on me
Now these might not be the same for you as work environments differ in so many ways. I sometimes falter in doing one or more of the aforementioned, but, have learnt to use my failures as manures for more growth.
Have you seen a man who is expert in his business? he will take his place before kings; his place will not be among low persons. ...Prov 22:9 (BBE)
You Are Unique
Patrick
Wednesday, February 2, 2011
It Takes Clear Vision to Create a Masterpiece
By John Maxwell
In 1882, construction began on Barcelona's Sagrada Familia. 129 years later, the cathedral remains unfinished! The church has already been named a UNESCO World Heritage site and attracts more than 2 million visitors each year. Yet, officials estimate another 15 years will be needed to complete it. That the project has attracted the interest of donors, architects, and builders for more than a century testifies to the powerful vision of its designer, Antoni Gaudí.
Gaudí's passion for the Sagrada Familia is legendary. He spent the last 12 years of his life working exclusively on the church. He even lived on its premises during his final months. Although obsessed with the project, Gaudí had no illusions that the cathedral would be completed in his lifetime.
"There is no reason to regret that I cannot finish the church. I will grow old but others will come after me. What must always be conserved is the spirit of the work, but its life has to depend on the generations it is handed down to and with whom it lives and is incarnated."
As the man responsible for erecting the Sagrada Familia, Gaudí paid surprisingly little heed to its "life" or actual construction. Instead, he painstakingly sketched drawings and crafted models to clarify the vision behind the cathedral, or its "spirit." In the 85 years that have elapsed since his death, the 3D renderings Gaudí left behind have guided work on the Sagrada Familia. "They contain the entire building's structural DNA," explains Mark Burry, an architect with 30+ years of experience on the project. "You can extract the architectural whole even from fragments. The models are how Gaudí met the architect's challenge: taking a complex, holistic idea and explicating it so others can understand and continue it after your death."
CLARIFYING YOUR VISION
Gaudí spent over a decade fine-tuning his vision, and its clarity has been the driving force behind a project that has spanned three centuries. The renowned Spanish architect understood a fundamental principle of leadership: what must precede how. Leaders have to define where they're going before they begin to move.
Seeing the Vision Clearly Requires Your Effort
Clear visions only come into focus through sustained effort. For me, the whole process begins with questions I must ask myself. What are my deeply felt concerns? What are my values? What strengths do I have? How have my experiences shaped me? These questions uncover how I am wired and what I hold dear in life.
Once the vision starts to come together in my mind, I share it with the key people in my life. These relationships refine my vision. As the vision crystallizes, I also surround myself with inspirational resources (books, movies, paintings). In the early stages visions must be stoked, and resources stir up the passion behind them.
Seeing the Vision Clearly Specifies Your Direction
Why should we make the effort to see the vision clearly? Because vague visions cannot serve as compelling guides. Followers do not rally behind a leader's fuzzy picture of the future. Rather, they are attracted and motivated by leaders who can paint an instantly recognizable portrait of tomorrow.
A leader's vision acts like a transmitted satellite image; the signal strength of the vision diminishes the further away it gets from the source. As your vision spreads throughout the organization, it will fade. Thus, the more people you rely on to support your vision, the clearer it must be. A powerful vision must have sharp enough resolution that even when weakened it remains easily identifiable.
Seeing the Vision Clearly Determines Your Priorities
Every leader has limitations. Limited time, limited resources, and limited energy. As such, nobody can have it all in life. In light of our limitations, we each have to make sacrifices and scale back the scope of our ambitions. Seeing the vision clearly helps us to prioritize which opportunities to bypass and which activities deserve our dedication.
The choices we make either draw us closer to our vision or push us farther away from it. If we're unsure of the vision, then we won't know how to make decisions that carry us in the right direction. Clear vision illuminates the path in front of us as we select which roads to travel down in life.
In 1882, construction began on Barcelona's Sagrada Familia. 129 years later, the cathedral remains unfinished! The church has already been named a UNESCO World Heritage site and attracts more than 2 million visitors each year. Yet, officials estimate another 15 years will be needed to complete it. That the project has attracted the interest of donors, architects, and builders for more than a century testifies to the powerful vision of its designer, Antoni Gaudí.
Gaudí's passion for the Sagrada Familia is legendary. He spent the last 12 years of his life working exclusively on the church. He even lived on its premises during his final months. Although obsessed with the project, Gaudí had no illusions that the cathedral would be completed in his lifetime.
"There is no reason to regret that I cannot finish the church. I will grow old but others will come after me. What must always be conserved is the spirit of the work, but its life has to depend on the generations it is handed down to and with whom it lives and is incarnated."
As the man responsible for erecting the Sagrada Familia, Gaudí paid surprisingly little heed to its "life" or actual construction. Instead, he painstakingly sketched drawings and crafted models to clarify the vision behind the cathedral, or its "spirit." In the 85 years that have elapsed since his death, the 3D renderings Gaudí left behind have guided work on the Sagrada Familia. "They contain the entire building's structural DNA," explains Mark Burry, an architect with 30+ years of experience on the project. "You can extract the architectural whole even from fragments. The models are how Gaudí met the architect's challenge: taking a complex, holistic idea and explicating it so others can understand and continue it after your death."
CLARIFYING YOUR VISION
Gaudí spent over a decade fine-tuning his vision, and its clarity has been the driving force behind a project that has spanned three centuries. The renowned Spanish architect understood a fundamental principle of leadership: what must precede how. Leaders have to define where they're going before they begin to move.
Seeing the Vision Clearly Requires Your Effort
Clear visions only come into focus through sustained effort. For me, the whole process begins with questions I must ask myself. What are my deeply felt concerns? What are my values? What strengths do I have? How have my experiences shaped me? These questions uncover how I am wired and what I hold dear in life.
Once the vision starts to come together in my mind, I share it with the key people in my life. These relationships refine my vision. As the vision crystallizes, I also surround myself with inspirational resources (books, movies, paintings). In the early stages visions must be stoked, and resources stir up the passion behind them.
Seeing the Vision Clearly Specifies Your Direction
Why should we make the effort to see the vision clearly? Because vague visions cannot serve as compelling guides. Followers do not rally behind a leader's fuzzy picture of the future. Rather, they are attracted and motivated by leaders who can paint an instantly recognizable portrait of tomorrow.
A leader's vision acts like a transmitted satellite image; the signal strength of the vision diminishes the further away it gets from the source. As your vision spreads throughout the organization, it will fade. Thus, the more people you rely on to support your vision, the clearer it must be. A powerful vision must have sharp enough resolution that even when weakened it remains easily identifiable.
Seeing the Vision Clearly Determines Your Priorities
Every leader has limitations. Limited time, limited resources, and limited energy. As such, nobody can have it all in life. In light of our limitations, we each have to make sacrifices and scale back the scope of our ambitions. Seeing the vision clearly helps us to prioritize which opportunities to bypass and which activities deserve our dedication.
The choices we make either draw us closer to our vision or push us farther away from it. If we're unsure of the vision, then we won't know how to make decisions that carry us in the right direction. Clear vision illuminates the path in front of us as we select which roads to travel down in life.
Tuesday, February 1, 2011
How to Pass the Leadership Baton
By Dan McCarthy (http://www.greatleadershipbydan.com)
There’s no shortage of advice, research, processes, and programs that deal with developing and onboarding leaders for new roles. That’s a good thing – getting new leaders ready is critical to the success of any business. That’s one of the primary purposes of this blog.
It seems that very little has been written about how leaders should handle exiting their leadership position. Sure, you’ll find plenty lot’s of advice on resigning from a job, i.e., how to give notice, how to write a resignation letter, how to resign gracefully, etc… but I couldn’t find anything written specifically for leaders on this topic.
I believe that there are probably some unique considerations for leaders when it comes to “passing the baton”. The following list of do’s and don’ts is based on my own personal experience, and certainly isn’t exhaustive, so please contribute to the discussion with your own comments.
These guidelines are also written with the assumption that the leader is leaving on their own terms, i.e., they found a new opportunity, vs. being let go.
Do’s and Don’ts for Leaders for Passing the Baton
1. Do have at least one internal successor prepared to take over. Unfortunately, way too many leaders neglect this part of their job. It could be an ego thing, or perhaps insecurity. To me, not having prepared at least one successor is a leadership failure. Handing over the reins to someone you trust and believe in should inspire pride and a sense of accomplishment. It’s a way to ensure a continuation of whatever you’ve worked so hard to build. When your employer has to go outside to replace you, chances are, it’s not just because no one on your team is qualified – it’s probably because a change in direction is needed.
2. Do notify your manager first, and provide a formal letter. Then, work with your manager to develop an agreed upon communication plan. For leadership roles, there are organizational considerations, and the higher the role, the more important they become (i.e., investor confidence, customer relationships, etc…). Even for front-line leadership roles, there’s usually a cultural sequence and process for notifications (i.e., direct reports individually notified first, then peer managers, etc..). Once your personal notifications are given, it’s usually up to your manager to take care of the formal organizational announcement. You may want to provide your manager with details (new company, name of position, location, reason for leaving, etc…) to ensure it’s accurate. Not all companies will announce these kinds of details, but it’s better when they do, so it doesn’t sound like one of those “leaving to pursue other opportunities” notifications.
3. Don’t send out mass, impersonal notifications. Think about it…how does it feel when you get an email that’s not addressed to you? It feels like spam. Go through your contact list, and take the time to send a personal note or call those individuals you’ve developed relationships with.
4. Don’t badmouth your current company, job, manager, or co-workers. While this may seem a bit basic, I see it happen all the time at all levels. It’s just not always blatant, but the message is the same – “see ya, losers”. On the other hand, no matter how excited you are about your new role, resist the temptation to gush about it. It comes across as bragging, and again, can cause resentment amongst your co-workers. Save your enthusiasm for your family, friends, and new co-workers. Talk about the good things that you will miss and your confidence in the company’s success. Let people feel good about themselves, while at the same time be happy for you.
5. Do prepare a comprehensive transition list for your manager.
6. Don’t leave your manager a pile of problems that you’ve swept under the rug. It’s about your reputation and legacy after you leave, as well as showing respect for your manager, team, and company that’s been so good to you over the years. Tie up as many loose ends as you can. If there’s a nagging problem you’ve been avoiding, then have the courage and conviction to deal with it before you leave.
7. On the other hand, don’t use your last few weeks to get overly involved in every single thing your team is working on. I’ve seen this happen a lot – maybe it’s some kind of “nesting” urge – exiting leaders all of a sudden micromanaging every aspect of their team’s work. It's about gradually letting go, not pulling in the reins.
8. Do give “sufficient” notice. The common rule of thumb for giving notice is two weeks. However, for leadership roles, there are a lot of “it depends”. Try to negotiate a start and end date that meets the needs of your new and current employer. It’s been my experience three weeks is about right for most leadership roles. Two weeks may put your current employer in a bind. However, if you’ve prepared a successor, a smooth transition plan, and tidied up those loose ends, it may be enough. When it’s anything more than three, you’ll begin to feel like a lame duck. For as much as you’d like to think you’re indispensable, you’ll be surprised how quickly people will begin to move on. Soon, people are going to stop coming to you for decisions, meetings will start dropping off your calendar, and then it’s time to start packing.
9. Do anticipate and respond to people’s individual concerns. Your manager, team, and co-workers will probably have the following reaction: “OMG, really?! Wow, congratulations!” Then, their next thought is usually “OK, so how’s this going to impact ME?” If they don’t come right out and say it, then make it OK to have this conversation.
10. Do take the time to “be in the moment”. Transition can be a special time to reflect on your accomplishments and say goodbye to colleagues, while at the same time feeling the excitement of a new opportunity. When you leave a job, it often causes co-workers to reflect on their own careers and lives. So when someone stops by to say congratulations and/or goodbye, drop what you’re doing and take the time to connect.
11. Do offer to maintain mentoring relationships. I have a network of former managers and employees I still stay in touch with. They are a valuable source of advice, inspiration, and references. While your employees and mentees may not be interested, at least make the offer, and then be there if they do reach out to you. Leadership is about making a difference in people’s lives, and it doesn’t stop when you change jobs.
12. Don’t use this opportunity as “truth serum”. This is not the time to tell people what you really think of them, what they’ve done that’s always bugged you, or leave them with a list of flaws they really need to work on. Sure, it’s OK to keep doing your job as a leader- giving feedback, coaching, addressing performance issues – just don’t do it any differently than you normally would.
13. Don’t work on your new job on your current employer’s dime.
14. Do everything you can do to set your team members up for success. Ask them “what can I do for you before, and even after I leave?” (see #7) Then, follow-up if you can.
15. Don’t give too much advice to your successor. If there is crossover from when you leave and your successor starts, sure, it’s nice to want to set them up for success while you are handing over the torch. Just remember, there’s a time to let go of the torch, and recognize that you’re successor will have their own ideas on how to do the job.
There’s no shortage of advice, research, processes, and programs that deal with developing and onboarding leaders for new roles. That’s a good thing – getting new leaders ready is critical to the success of any business. That’s one of the primary purposes of this blog.
It seems that very little has been written about how leaders should handle exiting their leadership position. Sure, you’ll find plenty lot’s of advice on resigning from a job, i.e., how to give notice, how to write a resignation letter, how to resign gracefully, etc… but I couldn’t find anything written specifically for leaders on this topic.
I believe that there are probably some unique considerations for leaders when it comes to “passing the baton”. The following list of do’s and don’ts is based on my own personal experience, and certainly isn’t exhaustive, so please contribute to the discussion with your own comments.
These guidelines are also written with the assumption that the leader is leaving on their own terms, i.e., they found a new opportunity, vs. being let go.
Do’s and Don’ts for Leaders for Passing the Baton
1. Do have at least one internal successor prepared to take over. Unfortunately, way too many leaders neglect this part of their job. It could be an ego thing, or perhaps insecurity. To me, not having prepared at least one successor is a leadership failure. Handing over the reins to someone you trust and believe in should inspire pride and a sense of accomplishment. It’s a way to ensure a continuation of whatever you’ve worked so hard to build. When your employer has to go outside to replace you, chances are, it’s not just because no one on your team is qualified – it’s probably because a change in direction is needed.
2. Do notify your manager first, and provide a formal letter. Then, work with your manager to develop an agreed upon communication plan. For leadership roles, there are organizational considerations, and the higher the role, the more important they become (i.e., investor confidence, customer relationships, etc…). Even for front-line leadership roles, there’s usually a cultural sequence and process for notifications (i.e., direct reports individually notified first, then peer managers, etc..). Once your personal notifications are given, it’s usually up to your manager to take care of the formal organizational announcement. You may want to provide your manager with details (new company, name of position, location, reason for leaving, etc…) to ensure it’s accurate. Not all companies will announce these kinds of details, but it’s better when they do, so it doesn’t sound like one of those “leaving to pursue other opportunities” notifications.
3. Don’t send out mass, impersonal notifications. Think about it…how does it feel when you get an email that’s not addressed to you? It feels like spam. Go through your contact list, and take the time to send a personal note or call those individuals you’ve developed relationships with.
4. Don’t badmouth your current company, job, manager, or co-workers. While this may seem a bit basic, I see it happen all the time at all levels. It’s just not always blatant, but the message is the same – “see ya, losers”. On the other hand, no matter how excited you are about your new role, resist the temptation to gush about it. It comes across as bragging, and again, can cause resentment amongst your co-workers. Save your enthusiasm for your family, friends, and new co-workers. Talk about the good things that you will miss and your confidence in the company’s success. Let people feel good about themselves, while at the same time be happy for you.
5. Do prepare a comprehensive transition list for your manager.
6. Don’t leave your manager a pile of problems that you’ve swept under the rug. It’s about your reputation and legacy after you leave, as well as showing respect for your manager, team, and company that’s been so good to you over the years. Tie up as many loose ends as you can. If there’s a nagging problem you’ve been avoiding, then have the courage and conviction to deal with it before you leave.
7. On the other hand, don’t use your last few weeks to get overly involved in every single thing your team is working on. I’ve seen this happen a lot – maybe it’s some kind of “nesting” urge – exiting leaders all of a sudden micromanaging every aspect of their team’s work. It's about gradually letting go, not pulling in the reins.
8. Do give “sufficient” notice. The common rule of thumb for giving notice is two weeks. However, for leadership roles, there are a lot of “it depends”. Try to negotiate a start and end date that meets the needs of your new and current employer. It’s been my experience three weeks is about right for most leadership roles. Two weeks may put your current employer in a bind. However, if you’ve prepared a successor, a smooth transition plan, and tidied up those loose ends, it may be enough. When it’s anything more than three, you’ll begin to feel like a lame duck. For as much as you’d like to think you’re indispensable, you’ll be surprised how quickly people will begin to move on. Soon, people are going to stop coming to you for decisions, meetings will start dropping off your calendar, and then it’s time to start packing.
9. Do anticipate and respond to people’s individual concerns. Your manager, team, and co-workers will probably have the following reaction: “OMG, really?! Wow, congratulations!” Then, their next thought is usually “OK, so how’s this going to impact ME?” If they don’t come right out and say it, then make it OK to have this conversation.
10. Do take the time to “be in the moment”. Transition can be a special time to reflect on your accomplishments and say goodbye to colleagues, while at the same time feeling the excitement of a new opportunity. When you leave a job, it often causes co-workers to reflect on their own careers and lives. So when someone stops by to say congratulations and/or goodbye, drop what you’re doing and take the time to connect.
11. Do offer to maintain mentoring relationships. I have a network of former managers and employees I still stay in touch with. They are a valuable source of advice, inspiration, and references. While your employees and mentees may not be interested, at least make the offer, and then be there if they do reach out to you. Leadership is about making a difference in people’s lives, and it doesn’t stop when you change jobs.
12. Don’t use this opportunity as “truth serum”. This is not the time to tell people what you really think of them, what they’ve done that’s always bugged you, or leave them with a list of flaws they really need to work on. Sure, it’s OK to keep doing your job as a leader- giving feedback, coaching, addressing performance issues – just don’t do it any differently than you normally would.
13. Don’t work on your new job on your current employer’s dime.
14. Do everything you can do to set your team members up for success. Ask them “what can I do for you before, and even after I leave?” (see #7) Then, follow-up if you can.
15. Don’t give too much advice to your successor. If there is crossover from when you leave and your successor starts, sure, it’s nice to want to set them up for success while you are handing over the torch. Just remember, there’s a time to let go of the torch, and recognize that you’re successor will have their own ideas on how to do the job.
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