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Saturday, July 4, 2009
OVERVIEW
Welcome to the HCI Blogosphere
Birthday Card for Liberty
Posted by: Dr. Janice Presser , 6 Hours Ago
I was looking for a speech I gave a long time ago and found this instead.? It seems timely for today, America?s birthday.? It was taken from a story I told to a modern day group of ?game-changers?.? There were the mystical-sounding ?rules of engagement? and then my translations into what I thought they needed [...]
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What You Need to be Doing Now
Posted 9 Hours Ago
Geoff Colvin, Fortune?s senior editor at large and author of The Upside of the Downturn, offers much to savor and chew on, but his list of five things this recession demands from a leader are essential.

One of those behaviors is Be Decisive. He writes, ?Leaders in a crisis must not lose their rare opportunity to act. The difficulty is that just when decisions are most easily accepted, they?re hardest to make. All business decisions are made with incomplete information, and that?s especially true in the heat of a crisis. At the same time the stakes are higher than usual. Every instinct tells you to decide more slowly than usual, yet it?s vital that you decide more quickly.?

  Read more on the LeadeshipNow July Communiqu?.
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Healthcare spending comes to light in a little Texas town. Read the article!
Posted by: Russell Podgorski, CIR, PRC , 10 Hours Ago

Click to read.

http://thephysicianrecruitmentblog.blogspot.com/

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Does anyone still use Second Life?
Posted by: gsiemens , 11 Hours Ago
Does anyone still use Second Life? The answer, according to a recent report (which is a bit of a pain to get, but free), is a strong yes. Not only is Second Life thriving, its citizens spend more hours each week in world than those in other multi-player online games. The hype around SL has [...]
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How NOT to Post Your Resume on Craigslist
Posted by: Jim Stroud , 12 Hours Ago
I was searching through the resumes posted on Craigslist today to find candidates for a sales position we have available. I found some pretty pathetic attempts from job seekers looking for jobs, so I thought I’d share in the hopes that you won’t make the same mistakes these people are making, just in the [...]
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Recessionary Fallout
Posted by: Sarah Welstead , 12 Hours Ago

There was an interesting article recently in the Globe and Mail looking at some of the possible long-term effects of the current recession on employment, company cultures, job development and other areas. I found the changes for young workers (the oft-discussed Gen Y) particularly of note.

[M]any young people I talk to have significantly, and resentfully, lowered their expectations. They didn't imagine themselves in this situation in their wildest dreams.

Nor did many others. Generation Y will be most affected by the cutbacks, downsizings and marked change in organizational cultures over the past few months, but the recession will take its toll on every generation's attitudes and expectations. The question is how long-lasting the reverberations will be in reshaping the way people think, feel and act toward work and their careers.

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MarketWatch: SEC OK's proposal to give investors more say on TARP pay
Posted by: dr.eric.jackson@gmail.com (Eric Jackson) , 12 Hours Ago
SEC votes to approve new disclosure rule targeting conflict pay consultants

Jul 1, 2009, 5:26 p.m. EST

By Ronald D. Orol, MarketWatch

WASHINGTON (MarketWatch) --The Securities and Exchange Commission on Wednesday voted unanimously to propose a rule giving shareholders a vote on the pay of executives at banks receiving funds from the federal government's bank-bailout program.

The proposal was part of a larger package of governance and disclosure rules under consideration by the agency. Commissioners at the SEC also voted to consider transparency rules to expand disclosure of pay packages and other governance matters.

They also approved, in a split, party-line 3-2 vote, a measure introduced by the New York Stock Exchange that prohibits brokers from casting director-election votes on behalf of investors that don't vote themselves. See full story.

"All three of these measures seek to enhance the quality of the system for each of 800 billion shares voted annually," said SEC Chairwoman Mary Schapiro.

Some institutions that haven't paid back the government money from its Troubled Asset Relief Program and will need to give investors a say on pay include Bank of America (BAC) , Citigroup (C) and other financial firms. J.P. Morgan Chase & Co., Goldman Sachs Group Inc. and Morgan Stanley, repaid TARP funds, in part, to avoid pay restrictions associated with the program.
TARP say on pay

The say-on-pay proposal would allow shareholders a non-binding vote on the pay packages of executives of financial institutions that have accepted funds as part of TARP.

The corporation is not required to follow the results of the vote, however a substantial vote against executive pay packages is likely to be embarrassing.

Such an approach, which Congress is considering for all U.S. corporations, would likely lead to more behind-the-scenes discussions between management and shareholders about executive pay packages.

Harvard Law School Professor John Coffee said the say-on-pay proposal is a harbinger of things to come because both Congress and the White House have expressed an eagerness to give shareholders of all corporations - not just TARP recipient banks - a say on pay. The House approved say-on-pay legislation in 2007 and lawmakers in both chambers are considering similar legislation.

"Both the House and Senate committees are going to go forward with say on pay," Coffee said. "And the Obama administration backs it as well."

Disclosure proposal

The agency also proposed new disclosure regulations, including a measure that would require corporations or dissident investors to provide more details in proxy disclosure documents about the business experience of director nominees.

Existing rules require only a brief description of the business experience director candidates have over the past five years. The agency will consider whether boards should disclose more details about why they choose a particular leadership structure.

The measure also requires corporations to provide more information about how its pay policies create incentives that impact the firm's risks and how management is controlling that risk. The measure also seeks improved reporting of stock and option awards in a compensation table based on fair value rules, which seeks to provide a more accurate sense of the officials pay at that time.

New disclosures about fees paid to consultants are also required in situations where the advisor or any of its subsidiaries provides other services to the company. The new proposal is intended to enable investors to consider pay decisions and assess any conflicts of interests a consultant may have in recommending pay packages.

Charles Tharp, vice president at the Center on Executive Compensation, said the say-on-pay rule is a step in the right direction, but more needs to be done. He said the SEC should revise its rules about what corporations need to disclose in their compensation tables to separate actual pay earned during the year, including salary and bonuses, from long term incentives.

"The current reporting of pay mixes actual pay with the accounting estimate of restricted stock and stock options that may or may not be earned, depending upon the company's performance in future years," Tharp said. "A clearer understanding of the relationship between pay and performance would benefit shareholders, compensation committees and companies."

Proxy fight disclosure -- an expedited approach

The measure also requires a corporation to disclose the results of an investor vote within four business days after the end of the meeting at which the vote was held. In many cases of contested director elections, when dissident investors nominate their candidates for election against management's slate of directors, corporations often delay release of results of elections for a week or a month after election.

David Sirignano, partner at Morgan Lewis & Bockius LLP in Washington, said that based on existing rules, corporations don't need to reveal to vote counts on disputed director elections and other matters until they release the corporation's next quarterly report.

"If they have a meeting on the first day of the quarter, the results don't have to come out until three months later," Sirignano said.

He said that in some cases it may not be practical to have corporations release the results of a contested director election within four days. He recommended requiring corporations to release the results four days after an outcome to the vote is determined, a process that could take ten days but would be significantly less than three months.

Eric Jackson, president of Ironfire Capital LLC, said Yahoo Inc. took two months to release the voting results for a "just vote no" campaign he launched seeking to oust directors at Yahoo Inc. in 2007. The meeting was in June and the results were released in mid-August.

Ronald D. Orol is a MarketWatch reporter, based in Washington.


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Management Consultant and Trainer to the recruitment industry.
Posted by: Bill Boorman , 13 Hours Ago

 

Over the last year I have been a regular commentator on my views of how the recession has changed the market, and in particular how clients are now seeking value and something different from their suppliers. Value being the key factor in decisions on who to use and what they are willing to pay for it. When facing this challenge, it is easy to forget that the needs of the candidates have also changed in line with the market. In the first of a series of blogs, I'm considering this and giving you my views.

In my view, in an applicant rich market, it's harder to find the right people.  Might seem strange, and the clients need to be convinced of this, but you have to look at a lot more CV's on order to identify the right people to submit and those that are suitable need a lot more hand holding before they are willing to take the leap and change employers.  This is why the decision making lead time is taking longer on both the applicant and client side.  Our research indicates that the average lead time between vacancy and placement has doubled from 3 weeks to 6 weeks over the last twelve months.  (Some sectors may take even longer).

 

This requires a new approach to candidate take on, vacancy take on, response handling and offer management that is much more involved and personal. A lot like we used to do it in the B.C. days. (Before Computers!) The key trends to consider here are:

 

  • High volume of candidate flow
  • Increase in "speculative" applications
  • Falling quality and relevance in ad response
  • Candidate need for on going communication and relationship
  • Candidate need for feedback and guidance
  • Longer candidate decision making time
  • Working candidates cautious and risk averse
  • Skilled candidates in "war for talent" sectors harder to find and move
  • Financial stability being the key factor in any move over reward

 

Considering these trends, recruitment businesses are having to review their applicant strategy and approach (on the basis that they have one in the first place!). My top 10 tips to consider in this are listed below. They may not all work for you, but if they don't, come up with your own:

 

1: Search your data-base before you advertise anything. You will probably already have what you need with a bit of work.

2: Prepare a "rejection" pack that gives applicants more than a no thanks. A well crafted letter with some additional tips on things like CV writing, useful job sites, other agencies, advice on identifying transferable skills etc. This will protect your applicant brand particularly as these applicants may become useful down the line.

3: Align your sales strategy around the candidates you have. Target companies that are likely to have vacancies in the areas you have candidates. This will open doors and ensure the vacancies you win will be the vacancies you can fill.

4: Register candidates by interview. Face to face or on the phone should have little difference over the process. Dedicate part of the interview to identifying exactly what they want, why and what concerns they have. This is invaluable for matching and for reinforcing why a position is right.

5: Take full Job Specs (Not descriptions.) This means understanding exactly what the company can offer and in particular why they will provide a secure home. Essential information up to offer stage.

6: Get to know your candidates. Focus your time and effort on "hot" candidates who are marketable or a good source of referrals. Have regular conversations, offer opportunities and give regular feedback. A small number - 20 - 30 are manageable, and the relationship of trust will become key during the interview process.

7: Brief both your candidate and client at every stage. Continually check for reservations or curve balls. Make sure the client reinforces why they are the right choice and that the candidate has discussed the opportunity with all their family.

8: Talk to clients about the difficult to find skills essential to them, target these areas via headhunting, networking, blogging etc. This will enable you to open doors to new business by having candidates that clients actually want and need.

9: make the phone and face to face your favored method of communication. Use e-mail as a back up only when you can't reach someone or you want to confirm a conversation. This is where relationships are built and you get a real feel for the emotion.

10: Engage with your inactive candidates. The easiest way to do this is to run a weekly conference call. You can update on the market, ask for referrals and ask questions. Much appreciated by candidates.

 

This is by no means exhaustive, but hopefully has got you thinking about what the candidates as well as the clients want in the current market.

 

I will be discussing this with Allan Whitford and other guests on the internet radio  talk show ready for lift off at 12.00 - 1.00 GMT and the international edition between 6.00 - 7.00 on Monday 3rd July.

You can listen in during or after the show on http://www.blogtalkradio.com/Bill-Boorman

You can take part by calling 01-646-727-3988

Hope to see you there!

 

Bill

 

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10 Rules For Leading the Turnaround of a Declining Business
Posted 13 Hours Ago
Leadership Nuggets

I have been involved in turnaround situations at Topco Associates, Kayser-Roth Corporation, and Cordiant. The similarities between these situations were greater than the differences.
Start with the Answer


In each case, they were companies that had fallen on hard times, but there was a belief that they could rise again like a phoenix from the ashes. Additionally, the fact that the companies were not doing well was by no means a secret to the employees, who were always eager to have the leadership that could bring it all back together and get things moving again.

Here are my ten rules for a successful turnaround:

Rule 1. When formulating goals, start with the answer and work your way back to the solution. Do not get bogged down in the morass of yesterday. Get going toward where you need to be in the immediate future. At Cordiant, we developed a five-year financial forecast within three months of arrival that we used as the basis for refinancing the company. Subsequently, we exceeded every benchmark of that forecast.

Rule 2. Get out in front of people immediately and position yourself as the new leader in the company. Tell them who you are, what you believe in, why you are there, your perspective on the situation, and how you intend to proceed. At Cordiant, I visited all the principal people and major locations in London and New York in my first two days.

Rule 3. Bring an extraordinarily high sense of urgency to what you are doing, but also look before you leap. People are anxious for results, but this is no time for dead ends. Think carefully about everything you do, but keep moving. At Topco, we immediately commenced development of a line of environmentally-friendly products because there was an obvious niche and need in the market for them.

Rule 4. Do not sit around headquarters! Get out to where the work is done?plants and field offices. You need this input, and you need to be a motivating force for people. At Cordiant, I got around to offices accounting for 60% of our revenues in the first six months.

Rule 5. Go out and listen to customers and clients. At Kayser-Roth, one of my first visits was to Wal-Mart. They told me, ?Mr. Seelert, we are concerned about the viability of your company as a supplier.? Two years later, we were named their vendor partner of the quarter. If I had not personally gone there to listen and learn, I doubt that this would have happened.

Rule 6. Listen to everybody in the organization who offers an opinion about the business?don?t just hang around with the people who report to you. There are two sides to all coins and stories. You need to understand both. If you can, meet with your competitors or the heads of similar organizations. When I went to Cordiant, I met with the heads of other holding companies, agency networks, consultancies, and service organizations.

Rule 7. Recognize that you cannot get the job done alone. Open communications and clearly assigned accountabilities are essential. Your visits to locations provide the forums for rallying and directing the teams, as well as quickly identifying the true talents across the organization.

Rule 8. Lay out your vision, purpose, values, beliefs, objectives, strategies, and plans for accomplishment as quickly as possible. People cannot really get going until you set the right direction. At Cordiant, I laid out my initial vision on day one: to be the ?World?s Best Creative Communications Resource.? I indicated that I would be a good listener and that together, we would drive the vision forward from there.

Rule 9. If you do not have the internal resources to get the jobs at hand done, do not be afraid to use outside resources. At Cordiant, we employed Price Waterhouse Business Turnaround Services. At Kayser- Roth and Topco, we hired Luther & Company.

Rule 10. Develop the short list of critical priorities and stick to it. At Cordiant, it was two things: stabilize clients and staff, and refinance the company. Accomplishing these two goals set the stage for everything else.

BOB'S WISDOM: Turnarounds are intensely difficult 24/7 situations. Follow the ten rules and you will prosper.

Adapted from Start with the Answer: And Other Wisdom for Aspiring Leaders by Bob Seelert.
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Supreme Court Ricci Decision: Cliff Notes Version
Posted by: Gerry Crispin , 14 Hours Ago

My eyelids droop when I hear lawyers or Phds explaining anything. And when they explain something legal, my head hurts. And when they explain the legality of testing, my head droops, hits the desk and I hurt even more.

(There are exceptions and among them I happen to love Charles Handler who recently wrote an ERE article on this subject)

However, while I think staffing leaders want to understand what is going on in all relevant corners of their world the recent Supreme Court decision on the Ricci case (which may eventually have some bearing on testing) is confusing.

The problem is that it is a complex finding and, while it will certainly be dissected for the next few months offering lawyers, EEO experts and psychologists extra exposure on webinars, my simplified [and arguable biased] take in a few somewhat declarative sentences follows:

- The City of New Haven uses a written test to determine whether to promote firefighters to a "command" position.

- The test adversely affects minorities i.e. they do significantly poorer.

- The City refused to accept the results of their own test because the results were "discriminatory". (The guys and gals who took the test and came out on top were upset and cried foul.

- The Supreme Court refused to accept the city's argument. The results stand.

- In sustaining the original results, the Supreme Court said that the City gave the test and now they need to live with the results.

-The Supreme Court also said that the City poorly argued that the test wasn't valid in the first place and so they had to assume it was valid until it was proven that it wasn't. (Lots of experts support the notion that the written test in question aka the "book learning" approach lacks any connection to the reality of what it takes to lead firefighters. Unfortunately, the [so called] experts argue among themselves about the best way to measure validity and ended up confusing the court.)

- Bottom line, the Supreme Court supports scientific selection which on its face cannot be ignored simply because a specifc group does poorly. The Supreme Court however is not saying that you can get away with a test that discriminates if it is NOT truly valid.

- However, the ruling was close and a minority [no pun intended] decision by Ginsburg championed a new notion- that "diversity" is a "primary objective in staffing". This has a lot of folks up in arms who think (as most of us do) that hiring candidates who will perform well is the primary objective..and that doing it fairly to ensure the successful candidates are, in fact, diverse is what we are talking about.

 

In the short run, if you validate against performance, you will have fewer problems. If you recruit against criteria you've validated, simply make sure your diverse candidates all meet the same bar. Tom Janz sent me this link to SIOP content and a few notes which prompted my blog. Thanks Tom (another PhD I can understand)

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