News - ExeConnect

The Advantages of Interim Management to Fill Gaps

Sat, 09 Oct 2010 00:00:00 -1000

What to do when your company is confronted with the loss of senior management, or when a project or business is beyond the scope of your current management capabilities?

Management consultancy firms have been a traditional stop-gap method, but these can be much more costly – and not necessarily as efficient – as bringing in an interim manger or interim management team. An entire interim management profession has developed to fill the vacuum that is created when established firms are stymied for lack of key personnel, usually at a reduced cost from that of a consultancy and with a broader ability for the client to select the individual or individuals who will fill best the void in their organization.

The need for an interim management solution is clearest when the client company has a specific strategic or tactical project with focused goals and mandates but lacks the relevant managerial knowledge and proven skill to delver the project goals. Without such experience it is quite easy to get out of one’s depth, even with the backing of a consultancy which one must then, in effect, manage to ensure that goals are kept on track.

The management level gaps that create the need to procure interim management services need not necessarily be systemic. The need to hire an interim manager for a fixed term can arise from the promotion of key executives out of a sensitive position, secondment of key management personnel to other business divisions or to government, restructuring, resignations, maternity or health-related leaves, or even special projects or peak activity levels that merely stretch existing management beyond immediate capacities. The ability to quickly and efficiently fill key management positions with an experienced interim manger means that opportunities and/or project management momentum need not be lost while an extensive search for permanent replacement personnel is undertaken.

Interim managers can and are being used in a broad range of business situations – whether for straightforward project management, to manage outsourcing, participate in and lead merger and acquisition initiatives, undertake and lead due diligence teams, or to lead corporate restructuring or reorganization efforts, interim managers can be handpicked to deliver a wealth of business experience that the client firm either does not possess or cannot allocate to a specific project.

With a simpler – and most often more affordable – structure than retaining the services of an outside management consultancy, the client firm gains the benefit of a limited contract with a specific individual (or individuals) which allows them to focus on obtaining the interim manager with the relevant experience and abilities that best suit the task at hand. Interim managers tend to come from numerous business backgrounds, and the breadth of experience that they have in key industries and across industries equip them with valuable perspectives that are in some instances keener than management personnel that have been with an individual firm for an extended tenure. Having been “outside the box” – they may have a greater capacity to foresee both unrecognized problems and opportunities

The key advantage of bringing interim management personnel into an organization to fill interim management gaps is that they are quickly able to get up to speed with their wealth and breadth of business knowledge and experience. Moreover, as the priorities and time pressures created by a management shortage begin to fade, the interim manager’s experience, both on-the-job and across industries, will allow him or her to play a valuable role in hiring a replacement and mentoring the team that will carry on the day-to-day management of ongoing projects once permanent managers are hired and established.

The Interim Executive Team - A New Business Model?

Thu, 23 Sep 2010 00:00:00 -1000

A number of U.S. firms, including HP, Sears and Sara Lee, now have interim CEOs, recruited to solve specific problems before handing over the reins. The rise of these short-term, specialized executives could point to a new business model. Rather than hiring a single all-powerful figurehead CEO, and to take it further, other Executive Team members, could companies maintain a stable of senior leaders with different skill sets, and promote and demote them according to the company's shifting needs?

The lack of a permanent boss didn’t appear to slow HP’s growth plans as their acquisitions continued with an Interim CEO in place.

In some cases Interim CEO’s are appointed to bring a new skill set to the table, possibly one better suited to the moment the company finds itself in. The skill set of one individual at the top can be of critical but limited use to a large corporate enterprise as well as smaller businesses looking to move to the next level of their evolution.

Some CEOs are one-dimensional, with great skills in some departments but not others. A CEO with new management professionalism but with a “my way only” approach may not be sustainable for the next stage of growth. That may explain why some very successful CEO’s in one business where their skills were perfect for it’s stage of life, appear to fail at other firms. What they bring is not what that firm needs right now.

So there may be a silver lining to the inability of so many boards to create a coherent CEO succession plan, namely an opportunity to re-think the CEO operating model itself.

With the complexity of organizations today and the required sensitivity to governance and performance, perhaps it's time to rethink the logic of the superhero, supersized CEO. Perhaps boards, in CEO succession, should be paying more attention to assuring a range of skills in the Executive Team, each useful at different moments in the company's strategy.

CFO positions often have been rotational assignments within firms; why not the CEO? Or the Human Resources Director, or the Chief Operating Officer? Maybe the Executive Team would work together better together knowing that one of their number might be the next team leader, and it would force the board to ensure sufficient skills below the Executive Team for adequate back-up to the executive's functions.

There could be one other, pivotal benefit to this model -- helping to solve the CEO pay issue that has plagued firms for many years.

A rotational CEO position would put boards in control of the CEO spot, rather than the other way around. Instead of paying huge sums to and relying exclusively on a single individual, boards would groom multiple individuals of diverse skills useful for finite durations, with pay cheques to match. Investors would benefit knowing the company had several qualified and/or tested CEOs from which to choose. Perhaps, by failing to engage in adequate succession planning and to rein in pay, boards have, inadvertently, pointed us to a better, more cost-effective model at the top.

Interviewing for Emotional Intelligence

Fri, 17 Sep 2010 00:00:00 -1000

Recruiting the right candidate can be very hit or miss process. Sometimes the ”ideal” candidate turns out to be a disaster, frustrating colleagues and derailing important client relationships. How many times have you experienced a bad hire which leads to unhappiness and regret on both sides?

Some companies subject candidates to round after round of interviews and psychological assessment in the hope that this will determine the right person for the role. But it might be that the answer isn't more interviews — it's better interviews, that incorporate targeted questions looking for a measure of EQ.

What is Emotional Intelligence?

Emotional intelligence (EI) is a combination of self-management and social skills that can transform and optimize individual or team performance.

Many years of research has shown that great leaders excel not just through skill and intelligence, but by connecting with others using EI competencies like empathy and self-awareness. These competencies when learned and practised on a group level can also transform team performance.

Not all roles require a high level of EQ but there wouldn’t be many where it wouldn’t make a difference. It’s essential that a high level of EQ is measured for roles with responsibility for managing and motivating teams.

How to interview for this quality

To help you identify candidates with high EQ, a series of interview questions can be prepared and asked. Candidates with high EQ will score well in three key areas:

(1) Self awareness and self-regulation;

(2) Skill at reading others, and ;

(3) Ability to learn from mistakes.

Knowing not only what to ask but also what to listen for can greatly increase your chances of making a better hire every time.

Self -awareness and self regulation

The candidate understands what drives him and how it affects his behaviour. He can regulate his negative emotions so that fear, anger or anxiety doesn’t make him lose control and rage at his colleagues but he is able to keep emotions in check and project calmness and positivity to the rest of the team.

Questions that could be asked to establish the level of EQ in this area:

- Can you tell me about a time where your mood, either negatively or positively, has affected your performance?

- Can you remember a conflict you have had with a peer, direct report or your boss. How did it start and how did it get resolved?

Things to listen for is evidence that the candidate is aware of his own emotions and has been able to regulate his behaviour accordingly. A red light would be someone who appears to have no awareness of the connection between their emotions and their behaviours and the affect it has on others.

Reading Others

The candidate has developed a good emotional and social “radar” and can sense how her words and actions may influence those around her. She can also pick up on cues from their words and actions and be able to be persuasive and motivating by adapting her words and actions accordingly.

Questions that could be asked to establish the level of EQ in this area:

- Can you tell me about a time when you did or said something that had a negative effect? How did you know it had had a negative impact?

- Have you been in a business situation where you felt you should adjust your behaviour? How did you know and what did you do?

Positive things to listen out for is whether they can identify times where they have picked up on non-verbal cues and they are very aware of themselves in relation to others. Red lights would be the person who struggles to remember a time when they have picked up on non- verbal cues or relate stories which are all about me, me, me.

Ability to Learn from Mistakes

People who recognise they have made mistakes, are able to reflect on them and learn from them will score high in this area. They will see these events as a growth opportunity.

Question that could be asked to establish the level of EQ in this area:

- Can you remember a time where you felt you were on the wrong path? How did you come to realise? What did you do about it? Do you think you leant from this mistake?

Good things to listen out for from the candidate is her ability to take accountability for mistakes and the ability to reflect on the lessons. A red light would be the person who is very defensive, blames others for mistakes and has not learned from past mistakes.

There are many aspects of emotional intelligence but focussing on these three key areas during the interview process will go a long way to identifying candidates with high EQ and eliminate those likely to cause more damage than value.

Bridging The Generational Gaps In Your Workforce

Thu, 19 Aug 2010 00:00:00 -1000

I believe all organisations benefit from a mix of generations making up their workforce but it could be argued that the older worker (boomer) is needed more than ever. Their experience and wealth of knowledge provides;

a transference of invaluable knowledge between the generations;
a transmission of your company's purpose, vision and values to new hires;
excellent mentors for younger employees;
the know how and expertise to tackle ‘just in time’ special projects outside their usual roles, such as task forces or working committees.

Yet more of these workers are reporting to people younger than they are.

A recent survey conducted by a US Job Site for Mature Workers found that 43 percent of workers ages 35 and older said they currently work for someone younger than them. Breaking down age groups, more than half (53 percent) of workers ages 45 and up said they have a boss younger than them, followed by 69 percent of workers ages 55 and up. This survey was conducted from November 5 and November 23, 2009, among more than 5,200 workers.

This presents unfamiliar challenges that, if ignored, can prevent you from attracting, retaining, and engaging older employees.

Workers report that there are a variety of reasons why working for someone younger than them can be a challenge, including:

They act like they know more than me when they don’t;
They act like they’re entitled and didn’t earn their position;
They micromanage;
They play favorites with younger workers;
They don’t give me enough direction.

Leaders that recognize the importance of employees working together to move the business forward, regardless of age, will continue to build success.

Leaders can help younger and older workers to recognize the value that each group brings to the table. By helping them look past their differences and focusing on their strengths, workers of any age can mutually benefit from those around them, creating a more cohesive workplace.

There are a few ways for organisations and younger managers to maximize the value provided by older workers. The key is in recognizing that boomers' needs differ from younger generations (Gen-X, Gen-Y and Millenials) and to adapt your management practices accordingly. A few suggestions:

Understand others’ point of view

Different generations tend to have differing opinions on a variety of topics, from management style to pop culture. Put yourself in the others’ shoes to better understand where they’re coming from.

Adapt your communication

Younger workers tend to favor communicating frequently using technology, such as e-mail and instant messenger. Older workers may prefer more face-to-face contact. Both parties should take this and other communication differences into consideration when interacting.

Keep an open mind

Try not to make assumptions about those who are of a different age group than you. All workers have different skill sets and strengths, so see what you can learn from others rather than making judgments based on their age.

Lead with mission

As employees age, they become more altruistic. Emphasize the positive impact of older workers' efforts on the world around them.

Forge social connections

Many older employees keep working to maintain social relationships. Offer tasks that require interaction with others.

Provide different benefits

Tailor benefits or incentive schemes such as insurance programs or discounts on older workers' interests. An emerging trend is for workplace wellness programs with a focus on older employees. Programs that educate older workers and help prevent complex and costly medical interventions help companies contain costs and enhance their employees' quality of life.

Research

Research who your older workers are, what they want, and how to manage them for maximum value. Ask them what they value.

Greening Your Workplace and Skills

Tue, 22 Jun 2010 00:00:00 -1000

The recent UN Climate Summit, and increasing numbers of high profile people taking an interest in the environment, has raised the awareness of green issues to an all time high. But is this awareness being practically applied? Are green practices an integrated part of your organisation's culture? And, have you ever thought about what more you could do to help further your sustainability practices?

Green-skilling has emerged as one of the top workplace trends for the coming year. The implementation of green workplace practices is not only good for the environment, but is increasingly becoming a powerful way of attracting potential employees, clients and investors. Sustainability is the way of the future and both individuals and businesses will have to start thinking - and acting - green.

If we consider making green issues a central part of our business strategy by integrating sustainability into all aspects of our business such as the products we make, into operations and processes, and into accounting practices, our businesses will increasingly demand green skills and knowledge.

However, despite increased awareness of environmental issues, a recent Green Steps Australian Workplaces Survey has found that most Australian workplaces offer no green skills or sustainability training for staff, do not review staff on environmental performance or address sustainability issues when hiring.

What we do in the workplace is as important as what we do in our homes and if we are serious about saving water, cutting carbon emissions and reducing our impact we need employees everywhere to be green skilled. What we do at home only accounts for 20 - 30% of Australia's energy and water consumption and waste production, which means we can do far more to combat our environmental challenges by addressing sustainability within the workplace.
Skills which you could put to use in your workplace include:

Effective communication to encourage employees to make changes at work;
Undertaking energy, carbon, waste and water audits to determine the impact of your workplace;
Planning and implementing environmental sustainability projects;
Developing behavioural and cultural change programs.

Employers want green candidates

Despite the lack of workplace training, 90 per cent of Australian employers still consider themselves to be ‘environmentally aware' and 71 per cent said they would favour green-skilled candidates when hiring.

Credentials in environment policy, stakeholder relations, corporate social responsibility projects and philanthropy - coupled with good skills in strategy development and implementation - are essential for the contemporary manager keen on developing broader skills and experience.

This doesn't mean you have to specialise in a career in this field. Gaining experience - even in a voluntary capacity - can benefit your career in the longer term.

Private companies and public companies see the value of adding to their brand image by having policies in these areas and it is a way of attracting the best employees, clients and shareholders.

Organisations often form committees and call for volunteers from the wider organisation to participate, develop and deliver on the corporate strategy. By volunteering to be part of this group, individuals will experience a different role, perhaps, from [what they do] every day.

People who undertake voluntary positions or board positions outside their usual work also benefit from this experience as it reveals a passion and unselfish approach to social issues, as well as possessing a well-rounded and healthy interest in what's happening around you.

By investing in these experiences your career options will be broadened, not only in your chosen function. It may also lead to a different path altogether or a move sideways which may benefit your long-term career aspirations.

Managers who have a greater knowledge of these areas already on their resume will have the edge over those who do not, as companies become reliant on all their managers to be aware of these initiatives and imbed them into the culture of the firm.

They definitely will be the preferred candidates as they will have a head start on what has become key to an organisation's success and sustainability.

Where to start

The Environmental Jobs Network, a not-for-profit organisation in Melbourne that helps job seekers find work in environmental industries. Conservation Volunteers Australia and Volunteer Green are two organisations worth considering for pro bono work in the natural environment. Interest groups such as the Australian Conservation Foundation, Greenpeace and Friends of the Earth often have networking events. Professional associations such as the Environment Institute of Australia and New Zealand or the Australian Association for Environmental Education can give you information about conferences, seminars, courses and the latest publications.

Five things every organisation can do to improve their environmental performance

Conduct a basic environmental assessment. What is your organisation's energy and water use and waste production?
Reduce energy use by encouraging staff to turn computers off at the end of the day.
Reduce waste by taking away land-fill bins under desks and setting up central waste and recycling stations in staff rooms or kitchens.
Cut paper use in half by setting double-sided printing and photocopying as a default.
Build the capacity and green skills of staff by providing green skills training.

Retaining Your Best People in Challenging Times

Mon, 10 May 2010 00:00:00 -1000

There is no doubt that the global economic crisis has presented it's challenges to both big business and small alike. Keeping our best people motivated and happy is a challenge for any business leader in the best of times so how do we not only keep our best people employed but also keep them going through the tough times?

Some businesses have people who are our high performers and these people are in big demand out there in the market. I'm not just talking about the " Top Gun" sales person who brings in the big orders but also the other members of the team who become indispensible to your business, I'm talking about the people who will help a business succeed even in the most difficult of times. They are the ones who pick up the slack when the organization is forced to cut back; those who continually come up with ideas on how to save time, money, and effort; and never under estimate those whose positive outlook help keep the organization and their team mates moving forward.

So how do we retain these people?

The answer is simple. Leaders must give the same attention and care to their human resources as they devote to their financial assets. For leaders under pressure to perform financially it may seem difficult to balance their focus when the economy is tough, however, it is critical to the business' success to make sure the people who manage your business are not forgotten.

There are a few different ways that organizations can ensure that they are taking care of their human resources and not only retain them but develop them to become future leaders of the business..

Have Some Respect:

Even though you and the organisation are under pressure don't take it out on your people. You must continue to treat people with kindness, respect, and dignity. It will ensure their continued loyalty through the hard times.

Create a Flourishing Environment:

Creating an environment in which your best people want to stay and perform at their best takes more than a "knee-jerk" employee motivation program. The flourishing environment is a place where people are continually given the opportunity to learn, honing their skills through a solid training and developing program. It also should be a "safe" place where people feel they are free to make inquiry and start a dialogue with their boss without fear of being fobbed off. A good leader will take the time to provide feedback to their people so that they feel stretched and challenged.

Offer Cross Training:

A business that gives people the opportunity to experience and train in different aspects of the company is a great way to cross-fertilize skills sets and experience between departments and across regions. This is a great competitive advantage when organizations are required to cut back on manpower. Cross-trained employees are equipped to handle different functions in the organization far more easily than those confined in silos.

Provide Coaching:

A leader who develops skills in coaching and is able to work one-on-one with their direct reports or who brings in skilled coaches to work with the team can discover and tap the talents of those people and direct their development. Aligning their behaviors and skills to the core strategy and purpose of the business will also make them advocates for change, enhancing the success of the organization.

Give Feedback:

The leader who recognises that ongoing feedback is a continuous process and not just an annual event that happens at the annual review meeting will be one step closer to engaging their people. Feedback need not be just about performance but also should cover issues such as handling work/life balance, developing networks, job skills and training. The organisation may consider setting up mentoring programs, support groups and action committees.

Money and Autonomy:

Money is a key motivator for anyone but it's rarely the most important one. As long as a person feels fairly remunerated they will be looking for other types of benefits and a key benefit people tend to look for is that of autonomy and the ability to be part of the decision making process.

If a business can introduce ways to involve their people in how the business operates, how it can increase it's effectiveness, be more cost effective and introduce new products or services. If a leader is bold enough to open this up to the team they will find that most people have the most amazing, creative ideas and a good handle on how to implement them because after all, they are working at the coal-face everyday - who better to ask!.

So, developing people should always be part of the strategic plan. Not only will it add value to your people's lives but adds dollars to the bottom line. Organisations that create a flourishing environment for their people to work and grow in will reap the financial rewards and hang on to their best people, even when the going gets tough. This approach will help sustain the business through the down cycles and lead to success for everyone.

Current Roles Available - 9 March 2010

Tue, 09 Mar 2010 00:00:00 -1000

Three Senior Roles - Executive Search - Life Sciences / Financial Services / FMCG

Boutique executive search firm based in North Sydney are looking for mature executives to join them in their established business. Must be professional, presentable, very good written communication, excellent client relationship skills. Must have initiative to run your own business - no micromanagement. Fun and outgoing, personable, hands on and a team player. A Business or Science Degree would be beneficial to the Life Science role.

Life Sciences (Pharma) - Experience from Executive Search with Life Sciences experience or have worked in Life Sciences and wants a move to Executive Search. Regional Role Asia / Pacific. Dealing with very senior appointments , board level. Salary $150K with potential to earn $400K+

Financial Services - Must have experience from Executive Search. Can be generalist or specialist.

FMCG - Would suit search specialist or a Marketing Director or Human Resource Executive from FMCG Sector.

All roles have potential for succession to run the business down the track with equity.

Remuneration and Benefits Specialist

Remuneration Contractor for a 12 month fixed term contract. Sydney. Package is around $140k.

Business Development Manager - Sydney - Technology Solutions Wealth Management Industry

The role is to generate revenues and grow the pipeline of prospects associated with the licensing of a portfolio modeling, rebalancing and compliance technology solutions to the Australian and New Zealand wealth management industry. The role will be working as part of the Executive team directly for the CEO. The role will suit candidates with experience in selling to the wealth management industry and that can demonstrate ability to operate with a high degree of autonomy, self motivation and independence. The role will also have strong input to marketing initiatives.

Key Skills
-Business Development and Sales to corporations including account management and deal closing
-Knowledge of the Australian securities industry and systems
-Knowledge and understanding of the main functions and roles of industry participants (brokers, wealth managers, wholesale broking platforms, investment platforms)

Essential Experience
- business development and sales of application software solutions
- strong sales process and demonstration of methodology

Essential Networks
- strong contact base throughout the Australian stockbroking and wealth management platform industry

Remuneration: Base around $100-120K with OTE $200-$250 open ended.

Executive Talent Available Now

Tue, 02 Mar 2010 00:00:00 -1000

Wishing you a great start to your week.

Please find below the profiles of a range of executive talent available immediately. I have noted their preference for permanent roles, interim management assignments and/or short term contracts.

executive profiles

MANAGING DIRECTOR - FMCG - SYDNEY (Available for Interstate Travel) - Interim or Perm
Senior Executive with over 20 years experience in leading Companies and Divisions of Multinational Corporations in Australia and Internationally. Multi-skilled, both academically and through broad experience in fast moving consumer goods and related industries. Proven capabilities in strategically managing and supporting organisations going through change. Currently involved in a variety of businesses and local government. Experienced Director and Board Member, cognizant of private and public listed Board and Corporate Governance responsibilities. Past experience as an active member of local and international industry bodies.

HUMAN RESOURCES DIRECTOR - MULTI SECTOR - Sydney (Will travel) - Interim or Perm

Senior HR executive with! many years experience partnering with businesses in professional services, public sector and more recently manufacturing and distribution. Key experience in cost reduction, process improvement (Quality, Six Sigma and Business Excellence) and functional re-alignment. Successful in driving revenue and profitability growth via sound corporate and business planning skills. Experienced in merger, acquisition and divestment and international experience in Asia and Nth America.

OPERATIONS MANAGER - HEAVY MANUFACTURING - Sydney- Interim or Perm

Results oriented Operations Specialist and qualified Mechanical Engineer with MBA. Strong team management skills. Analytical and strategic with Change Management experience and working knowledge of ISO 9001 and other Quality Systems. Strong Project Manager with experience in implementing Safety Management Programs, Scheduling and Program Production.

CFO -- Sydney- Interim or Perm

Senior CFO with extensive commercial experience in a large international company. Ability to work at all levels within business from board reporting to management, staff and JV Partners and external stakeholders. Excellent leadership and communication skills honed in multi-national environment. Key skills in business re-engineering and technology changes as well as project management expertise in company acquisition and integration.

If you would like to review the resume of any of the available executives please do not hesitate to contact me and I will obtain their permission to send through for your consideration. Please call me on 02 9089 8857 if you wish to discuss any of the profiles in further detail.

If you currently have a requirement for executive talent to fill a permanent role, interim management assignment, or short term contract please contact me and I will advise if we have suitable candidates available on our database. This service is free and a fee is only payable on successful placement.

I look forward to connecting with you in the near future.

Launch of ExeConnect

Mon, 25 Jan 2010 00:00:00 -1000

Caroline McAuliffe, Director and founder of ExeConnect, is proud to announce the launch of a new private practice specialising in executive recruitment, interim management and career planning and development.

Services are offered Australia-wide and Head Office is based in Sydney.

If you would like to be kept advised of exciting new permanent, contract and interim management opportunities, as well as details of executive career planning and development programs and workshops, please register with us via our website.

We welcome enquiries from clients looking for a unique, tailored and specialised recruitment service.

You may also wish to register your details with us to join our newsletter mailing list by visiting our website at www.execonnect.com.au and registering via the Newsletter Box on our Home Page.

Caroline would welcome calls from all interested parties and would be happy to chat directly, to answer any query or further questions regarding any of the services on offer. +61 2 9089 8857. Email: caroline@execonnect.com.au