Talent War Part 1: The Skilled Labour Gap
transearchusa.com

More than nine million jobs are open and waiting to be filled in the United States right now. Even more eye opening is that the number of job postings has skyrocketed over 40% since February, according to government statistics.

Why are companies finding it so challenging to fill roles with talented people? Simply put, we are experiencing a skilled labour gap.

Read "Talent War Part 1: The Skilled Labour Gap" leadership insights

Diversity In The Biotech C-Suite Q&A
fiercebiotech.com

"If you're paying attention even a little bit to the diversity of the biotech C-suite, it's easy to see that there are few women or visible minorities at the top. But just how bad is the situation?"

The following is a Q&A with Fierce Biotech and Darren Raycroft, partner and managing director at executive search firm The Bedford Consulting Group.

Read "Diversity In The Biotech C-Suite Q&A" leadership insights

3 Ways To Improve Focus
Posted

For someone in a leadership role, focus is dynamic. It's recognising that even a small act can cast a long shadow. For those with a strategic mandate, focus has to address both the here and now and look to the horizon. It is about initiating action, but also ensuring that the way forward supports the culture the organisation needs to create. Focus, for the business leader, thus, becomes a way to think and act that is: 1) rooted in wisdom; 2) shaped by purpose; and 3) immersed in a paradox.

3 ways to improve focus:

  1. Set goals and review those goals as your first action of the day.
  2. Measure the important stuff - organisation culture (today and tomorrow), team effectiveness, why your best people stay.
  3. Ask for feedback regularly; especially from the customer.

For someone in a leadership role, focus is dynamic. It's recognising that even a small act can cast a long shadow. For those with a strategic mandate, focus has to address both the here and now and look to the horizon. Discover 10 ways to improve focus in "Focus and the Power of Paradox".

Focus: The Power Of Paradox

Combine learning-based experience, leadership reach, the ability to "think slow" and practical intelligence and you have a pretty good understanding of what "wisdom" looks like in today's business environment.

Purpose underscores why the business does what it does. Purpose on its own, however, amounts to a "why" without the "how". The framework (behavioural container) that defines the how is the organisation's values.

As the world gets faster, more complex and less stable, focus purposefully prompts the power of paradox:

  • Embracing the context becomes at least as important as understanding the "content" of the problem/issue.
  • Leadership agility necessitates that focus have an immediate, medium and strategic face.
  • An assessment of "Is this issue truly important?" has to be flexed against both the underlying assumptions and the mindset demanded.

Insights from "Focus and the Power of Paradox".

The Succession Imperative

If you don't have the leadership you need, regardless of what else works, you still don't have much. As for a crisis, it might not - as has often been suggested - create leaders but it lets you know about the capability of the ones you have.

The leadership challenge describes a talent management system with a good many moving parts:

  • The capacity to attract talent
  • The talent acquisition process
  • Executive integration
  • Performance management
  • Leadership development
  • Building great teams
  • Traditional and tech-enabled teaching/training
  • Coaching/mentoring
  • Expediting the organisation's diversity and inclusion goals

And at the centre of that system, the straw that stirs the drink? The organisation's approach to succession. If talent management is the vehicle that supports business longevity, succession - an often misconceived, misaligned and misunderstood process - is its engine. It is a critical investment that you cannot afford to get wrong.

The narrative around succession is, invariably, drawn to big jobs with big companies. The reality is that every poor succession decision destroys value. In family businesses this is especially the case. Unfortunately, the evidence demonstrates that organisations don't exactly excel at succession.

Ultimately, the true measure of a leader isn't what they achieve while in office - it's what they leave behind. That even after the heaviest storm … you can still clearly see their footprints in the sand.

Insights from "It's Time To Rethink Succession".

The Psychedelic Medicine Renaissance: A Movement Looking For The Right Leaders
home.bedfordgroup.com

In the cresting Psychedelic Medicine industry, it will fall to a particular quality of leader to keep things trending upwards and marching forward, while avoiding potential and predictable hazards.

So, what are some of the qualities that will distinguish the leaders we need? What type of person can help turn the growing interest in Psychedelic Medicine into an era-defining industry?

Here is a list of the five top core competencies required in psychedelic medicine industry leaders.

Read "The Psychedelic Medicine Renaissance: A Movement Looking For The Right Leaders" leadership insights

Leaders Are Legacy Leavers

The seeds of greatness are sown in how the leader in question deals with the unexpected, with crisis, with personal disappointment. Many, bruised by failure, dial back on their own personal goals and look for a position away from the heat of the kitchen. Others, stripped of self-confidence, recalibrate their personal value proposition and, as likely as not, look for an "advisory role". A precious few - those with character, those with tenacity, those drawing from a deep well of resilience - see setback as merely one more brick in the road to success.

Few of us are going to literally change the world. On the other hand, not too many of us want to be quickly forgotten. Sadly, the accepted definition of success is somewhat shallow. It tends to focus on the 3Ps: power, position and personal wealth. Ultimately, success isn't about what you have; it's about what you create. It's not about how big your garden is; it's about what you plant there.

Not all leaders are cut from the same cloth: start-up, growth, running a mature business and turnaround demand very different skills. At successive stages of personal maturity different motivational agendas also tend to put in an appearance: "to make a career", "to make money", "to make my family proud", "to make a business" and "to make a difference". Important and rewarding as the latter is, the very best leaders are compelled to do even more. They are on a quest. They are driven to "make a legacy". Legacy leavers believe that they are on a mission.

Pressure from the capital markets makes success in the short term an imperative. An executive who fails to make money won't be around long enough to leave a legacy. To succeed is to dance to the tune played by the capital markets. Legacy leavers understand that but they still do more. They rarely follow the accepted path. They find a better way. They ignore the cynics and the naysayers. They turn a deaf ear to the critics, especially those who themselves have not ventured into the arena. They part company with the timid and those of a tepid disposition. They blaze their own trail. Does that mean they do it on their own? Not at all! They draw like-minds to the cause. Legacy leavers chart their own path.

Insights from "Leaders Leave a Legacy".

FOCUS and the Power of Paradox
Posted

For someone in a leadership role, 'focus' is dynamic. It's recognising that even a small act can cast a long shadow. For those with a strategic mandate, focus has to address both the here and now and look to the horizon. It is about initiating action, but also ensuring that the way forward supports the culture the organisation needs to create. Focus, for the business leader, thus, becomes a way to think and act.

Download "FOCUS and the Power of Paradox" today.

Psychedelic Medicine: The First Five Executive Roles To Hire For
home.bedfordgroup.com

Whether you're starting a venture from the ground up or pivoting to something new, the quality of the people driving that momentum will define its success. In an area as new and nuanced as Psychedelic Medicine, getting to the right leadership team needs to be a priority.

The right talent in the exciting and competitive space of Psychedelic Medicine will mark the difference between those ventures that struggle to survive and those that thrive.

Read "Psychedelic Medicine: The First Five Executive Roles To Hire For" leadership insights

Culture: You Can't Manage What You Don't Measure

Levels of change

Historically, there have been three levels of change:

  1. Transactional - do more of what we have always done, better.
  2. Transitional - significant change but we have time to evolve.
  3. Transformational - reinvention and do it now.

A fourth - exponential change - is knocking loudly on the door.

Exponential change is a series of continuous step changes, where each step is significantly greater in scope and intensity than the one that went before. Any successful change agenda that moves beyond being better at what you have always done is, literally, about changing the culture. The engine of that change? A leader who first knows how to successfully introduce the culture conversation.

How important is culture measurement?

You can't manage what you don't measure. If you don't know where you're going … don't be surprised if you don't get there. No less problematical, it's difficult to raise the bar if you don't know how high it is. Think of it this way - not measuring culture is to buy something online with the assumed belief that if you didn't choose the size it will, nevertheless, fit you when it arrives. Without measurement, culture drift can be assumed.

In the culture conversation, it's important to relatively quickly capture the culture the organisation has today (roots) and the culture that is needed (wings) for the firm to be successful in the future (two years out being a meaningful time-frame). A measure of culture that identifies today's culture but doesn't clearly capture where you need to be is just another way to say, "We know where we are, but other than that, we are pretty well lost."

Intellectually appealing as many of the sociological, linguistic and approaches focusing on values congruency may be, if the cultural journey isn't described in business terms, the top team - keeping in mind that most senior teams have a notoriously short attention span -will quickly move on to the next topic. To wit, language that sounds as if it belongs in a third-year psychology class belongs in a third-year psychology class.

StrAgility

Today's level of unprecedented uncertainty demands a culture that is both strong and agile (StrAgility). Strong enough to build commitment to the culture the organisation needs moving forward. Agile enough to "enable" the right change scenarios to unfold.

In addition to measurement, a "strong" culture draws on: a compelling purpose; the organisation's values; ensuring that "the customer" sits in every meeting; a sense of urgency; middle managers who connect strategy with action; tough-mindedness when demanded; and clear goals supported by the discipline of delivery.

"Agility," meanwhile, draws on: trust; diversity; inclusion; the right organisation design; an ethos of innovation; psychological safety of the team; ongoing coaching; appropriate freedom to act; a risk-orientation; and leaders who know how to work at the level of mindset.

As to the future, only an optimist standing on stilts would dare to even imagine that things are going to slow down any time soon. It's not a matter of one-size-fits-all.

Shaping the organisation's culture

A conversation with the Board benefits from its own way to shape the conversation - and thus measure - the organisation's culture. Working with the top team, similarly, must be approached differently. Assessing culture as central to talent acquisition? Here we are describing a third type of measurement. And when it comes to company-wide assessment of culture - again, its own measurement approach is necessary.

The challenge implicit in any approach to measurement is to steer the conversation away from a discussion/assessment around an aspirational culture (what those involved would like to see … an easy trap to fall into) to one where the future being described is both pragmatic and meaningful. We need to make this change. Is the change outlined attainable? Are the priorities clear? Are the timelines outlined practical? Do we have the team to do this?

Key question(s): Movement without measurement is momentum without meaning. How do you measure culture?

Insights from "Leadership: Moving Beyond The Crisis".

One Culture Or Many?

Is it possible for an organisation to have only one culture?

In a multidivisional organisation, it can be assumed that the different divisions will have somewhat different cultures. It's also the case that, even within the same division, the likelihood is that there will be subcultures (manufacturing vs. sales). And in the network organisation, different entities that do the same thing may well work (successfully) very differently. An international dimension only complicates things further. Where the businesses are very different there may well be a case to take a portfolio approach.

The assumption that different business entities - regardless of location, history, clock speed, product and/or customer base - should behave/operate in the same way is undesirable and unworkable. That does not mean that a degree of "oneness" cannot be achieved.

A common, compelling purpose, shared values, an overall push for diversity, inclusion, being customer-driven, a mutual philosophy around collaboration, the discipline that goes into talent acquisition, support for the local community, the need for candour, pooled best-practice and leaders who care can all build "sameness" while still recognising the value of "difference".

Conversely, attempts to enforce one approach with regards to, for example, compensation and/or talent management can create a degree of coercive tension that is less than helpful.

"Tight - loose" is a useful metaphor.

Tomorrow will be different. We know we have to organise and approach delivering value for the customer differently but we can't simply throw all the cards up in the air and start again. And how do we move forward if we can't change everything at once?

The answer? The "innovation garage" - a carefully chosen part of the business is parked separately to the rest of the organisation. The goal? With tomorrow's customer in mind, explore and experiment with:

  1. What it means to be customer-driven.
  2. Tomorrow's organisation design.
  3. Future technology.
  4. The most effective way to work.

In other words, create tomorrow's culture, today.

Attempts to build "one culture" may be a forlorn hope but it's important to identify and understand the different cultures involved.

Key question(s): Do you have one culture or many and, if the latter, how do you manage that difference?

Insights from "Leadership: Moving Beyond The Crisis".

Coming Down the Mountain: Coming Out Of This Crisis Stronger

Breakthrough technology, uncertainty and the unprecedented and ever-increasing speed of change demand an organisation that is a fit for the challenges of the 21st century. We are describing not just a better, but a very different kind of way to operate. An organisation built to change; one where disruption, agility and speed of learning dominate the leadership conversation.

Which brings us to the COVID-19 crisis. A crisis has three stages. Stage one: acceptance. Stage two: survival. Stage three: growth. And the winners will be? Those who come out of this crisis stronger.

Amid the veritable avalanche of "me too" advice on how to get through this crisis it is easy to overlook two central questions:

  1. "How will your business come out of this stronger?"
  2. "As a leader, how will you personally come out of this stronger?"

"Part One: Coming Down the Mountain" looks at how to come out of this crisis stronger:

  • The Three Stages of Crisis
  • Letting Go of Our Past
  • Following a Script From a Different Century
  • The New Normal
  • Coming Down the Mountain
  • Why Culture Matters
  • Next Steps
  • Appendix one: 3 X 3: Crisis, Culture and Change
  • Mindset Assessment: Will You come Out of This Crisis Stronger?

Download your complementary copy today »

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