Ph.D. – Keystone Partners https://www.keystonepartners.com Keystone Partners Thu, 05 Dec 2024 22:57:21 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.1 https://www.keystonepartners.com/wp-content/uploads/cropped-cropped-favicon-32x32.jpg Ph.D. – Keystone Partners https://www.keystonepartners.com 32 32 The Importance of Resilience in Organizations https://www.keystonepartners.com/resources/what-is-organizational-resilience/ https://www.keystonepartners.com/resources/what-is-organizational-resilience/#respond Mon, 17 Jun 2024 23:39:09 +0000 https://www.keystonepartners.com/?p=8241 The workforce has been through some significant shifts over the past few years, and there hasn’t been a single industry exempt from these transformational changes.

In the face of so much volatility, having a resilient workforce and organization is more crucial than ever.

But what does that mean?

In this article, we’re going to explore resilience in the workplace and why it’s important. We’ll also uncover the benefits of organizational resilience, the negative effects of not having it, and provide examples of resilience at work.

What is organizational resilience?

Organizational resilience refers to a company’s ability to withstand and adapt to various challenges, disruptions, and crises while maintaining its core functions and effectively recovering from adverse events. It involves more than just bouncing back from setbacks — it encompasses an organization’s capacity to continue operations, fulfill its mission, and even thrive in the face of adversity.

Organizational resilience is often seen as a strategic and holistic approach to risk management and preparedness because it’s built through company culture, leadership, and employee buy-in.

Organizational resilience vs. business continuity

Organizational resilience and business continuity can often become confused with one another, but they are distinct business concepts with their own use cases and scopes. Business continuity is all about keeping a business moving forward through a crisis, and such plans govern the processes in place to keep delivering products or services in the face of disruption.

Organizational resilience, on the other hand, has more of an anticipatory and adaptable edge because it takes a long view of a company’s ability to react and remain viable over time.

Organizational resilience emphasizes an organization’s ability to not only recover from unexpected disruptions, but also to transform as needed to keep pace with market demands. 

Why is resilience important in the workplace?

Enhanced business continuity, risk mitigation, and increased stakeholder confidence are just a few of the benefits that your business can reap when cultivating organizational resilience. Take the COVID-19 pandemic for example. In its early days, safety protocols for mitigating the virus’ transmission changed almost week to week.

Between lockdowns, social distancing, and other mitigation efforts, every organization had its strength tested for months on end. While many businesses closed, the ones that made it through did so because they quickly adapted to changing federal guidelines, consumer behavior, and employee feedback.

Though a pandemic doesn’t happen very often, there are a lot of reasons to improve the resilience of your organization:

Enhanced business continuity

One of the most immediate benefits of organizational resilience is improved business continuity. By being prepared for disruptions and crises, your company can minimize downtime, maintain essential operations, and continue to serve your customers.

This helps preserve revenue and customer trust. And, because your organization is planning for the future and potential what-ifs, this sort of internal optimization can also have a positive effect on your leadership’s decision-making process.

Stronger leadership

In the case of COVID-19, leaders who’ve been at the helm of their organizations throughout the pandemic have gained invaluable, first-hand lessons on adaptability, leadership, innovation, and more. Organizational resilience not only instills confidence in the leader of your company, but it also instills confidence in stakeholders — including customers, investors, and employees.

When stakeholders perceive that a company is well-prepared to handle disruptions and crises, they are more likely to trust and support the organization, which could have a positive effect on your company morale during difficult times as well.

Long-term sustainability

Resilient companies are more likely to survive and adapt in the face of major challenges, whether these are economic downturns, natural disasters, or industry disruptions. They can also evolve their strategies and business models to remain relevant and sustainable.

This is perhaps one of the greatest benefits of organizational resilience, as it gives your business the ability to tangibly plan into the future.

Risk reduction & mitigation

Organizational resilience involves proactive risk management. By identifying and mitigating risks before they become crises, your company can avoid or minimize the impact of adverse events.

This can lead to cost savings, increased business efficiency, reduced insurance premiums, and protection of the organization’s reputation.

Competitive advantage

When your business is resilient through disruptions, whether they’re global or specific to just your industry, everyone takes notice — from customers to suppliers. That’s why resilient companies are better positioned to seize opportunities and gain a competitive edge, because they can adapt to changing market conditions, innovate more effectively, and capitalize on emerging trends.

Being seen as a reliable and adaptable partner or provider can also attract new customers and business opportunities, including appealing to top talent and retaining the star employees you already have.

Effects of poor workplace resilience

So we’ve seen how good it can get when your organization is resilient, but we should also know how bad it can be when it’s not. Having a fragile workplace or organization can lead to negative results in the face of change when your team needs cohesion and confidence the most.

Here are a few effects of poor workplace resilience:

  • Employee disengagement and or burnout
  • Turnover
  • Financial burdens due to restructuring
  • Poor crisis management
  • Reputation damage
  • Decreased innovation
  • Talent acquisition challenges
  • Customer dissatisfaction

Examples of resilience in organizations

Now that you understand the importance of fostering resilience in the workplace, let’s explore some real-life instances of resilience in action within organizations.

These examples illustrate how businesses can cultivate resilience to effectively navigate a wide range of challenges, whether it’s a change in leadership or unexpected shifts in market dynamics.

Change of leadership

Imagine a well-established tech company where the CEO unexpectedly decides to leave or retire, leading to the appointment of a new, untested leader from within the organization. Organizational resilience helps mitigate the risks and negative effects associated with an executive departure in part by fostering a strong corporate culture.

Employees who feel resilient at work within your organization are more likely to trust the direction and vision of a new leader and the plans already in place. Implementing succession plans, promoting effective communication, and leveraging past adaptability experiences also go a long way toward cultivating and fostering this kind of resilience, collectively ensuring a smoother leadership transition and maintaining the organization’s overall stability and effectiveness.

Corporate restructuring

For this example, let’s consider a manufacturing company that has decided to restructure its operations due to changing market dynamics and technological advancements — something many firms have had to undergo. This restructuring may involve layoffs, departmental mergers, and changes in production processes.

Having organizational resilience can help mitigate the negative effects and risks of this restructuring process because a well-defined communication strategy would already be in place to ensure that employees are well-informed about the organization’s shift.

Further, organizational resilience instills a flexible and can-do attitude in your workforce, encouraging employees to be open to changes in their roles and responsibilities.

A resilient organization also has diversified revenue streams and adaptable processes, allowing it to pivot quickly in response to market shifts, which is essential during a restructuring process.

Shift in work processes

For our final example, think of a mid-sized marketing firm that decides to transition from traditional advertising methods to a more digital-focused approach in response to evolving consumer preferences and industry trends. In this scenario, organizational resilience becomes essential because you’re pivoting the way your employees go about their day-to-day activities.

Without the agility instilled by a culture of organizational resilience, your employees could decide to quit, leaving you understaffed and vulnerable during a time of great change for your business. When work processes change, employees in a resilient organization are more likely to embrace these shifts.

Resilient organizations also tend to have diversified skill sets among employees. When work processes shift, employees with diverse skill sets can more readily pivot and contribute to the evolving needs of the organization, reducing the risk of skill gaps and productivity lags.

Start developing your talent & resilience

Companies that prioritize resilience not only safeguard their operations but also position themselves for long-term success. While talent development and skills improvement remain critical, it’s equally vital to focus on building an organization’s capacity to adapt, innovate, and thrive in the face of adversity.

At Keystone Partners, we understand the interconnectedness of talent and resilience. Our services encompass not just talent and leadership development but also organizational development as well. We help organizations cultivate the skills and mindset needed to withstand disruptions and emerge stronger.
Contact us today to learn more about how Keystone Partners can tailor a comprehensive resilience and talent development strategy to fortify your organization’s future.

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Organizational Resiliency 101: The Powerful Connection between Emotional Wellbeing and Company Success https://www.keystonepartners.com/resources/resiliency-101-the-powerful-connection-between-emotional-wellbeing-and-company-success/ https://www.keystonepartners.com/resources/resiliency-101-the-powerful-connection-between-emotional-wellbeing-and-company-success/#respond Fri, 01 Dec 2023 17:36:47 +0000 https://www.keystonepartners.com/?p=8346 Organizations are increasingly recognizing the deep value that comes with fostering resiliency and emotional wellbeing among their employees. As HR professionals, understanding the impact of resiliency on engagement, innovation, and meeting company goals becomes paramount. In this blog, we will delve into the significant relationship between resiliency, emotional wellbeing, and how it directly influences these critical areas. We will particularly emphasize the crucial role psychological safety plays in this equation.

The Impact of Resiliency and Emotional Wellbeing on Engagement:

When individuals possess a high level of resiliency and emotional wellbeing, they are more likely to feel motivated, engaged, and committed to their work. The ability to effectively bounce back from setbacks or adversity enables employees to navigate challenges with a positive mindset. This resilience creates an environment where employees feel more empowered, leading to enhanced engagement levels and increased productivity. Furthermore, emotionally balanced individuals are better equipped to build relationships, work collaboratively, and contribute effectively to team dynamics.

From Keystone Partners’ latest research report, we see that “high engagement rates were linked to 25% lower turnover in high-turnover organizations and 65% lower turnover in low-turnover organizations. Turnover is a costly pitfall; along with the loss of institutional knowledge, team cohesion, and customer experience continuity, replacing an employee can cost as much as 60% of an employee’s salary.”

The Link between Resiliency and Innovation:

Innovation is the lifeblood of every organization striving for continued growth and success. Companies that prioritize fostering a culture of resiliency and emotional wellbeing among their employees create an environment that encourages risk-taking, experimentation, and out-of-the-box thinking. Resilient individuals proactively seek new approaches to problem-solving and perceive failures as opportunities for growth rather than as setbacks. By having a resilient and emotionally well workforce, organizations can unlock greater innovation potential, leading to improved competitiveness and adaptability in an ever-changing market.

Keystone Partners found that “comprehensive investment in training and development correlates to 24% higher profit margins, a 92% greater likelihood to innovate, and being 46% more likely to be first to market than comparable organizations who lag on learning and development.”

Resiliency as a Catalyst for Meeting Company Goals:

Meeting company goals requires utmost commitment, persistence, and adaptability from employees. Resilient individuals possess the necessary mental and emotional fortitude to persevere during challenging times and remain focused on achieving targets. They exhibit increased self-confidence, decision-making abilities, and problem-solving skills. Moreover, emotionally well individuals “are more likely to maintain high levels of motivation and drive, and even in the face of unforeseen obstacles, are 14% more productive.” This level of resilience directly contributes to greater goal attainment within organizations.

The Critical Role of Psychological Safety:

Psychological safety, a key aspect of emotional wellbeing, refers to an individual’s belief that they can express themselves, take risks, and voice their thoughts without the fear of negative consequences. When employees feel psychologically safe, they are more comfortable sharing their ideas, concerns, and feedback openly. This open exchange of thoughts encourages diverse perspectives, increases collaboration, and paves the way for innovative solutions. Employees who feel psychologically safe at work are also more likely to seek help when needed, fostering a supportive team environment.

Conclusion:

Resiliency and emotional wellbeing have a profound impact on engagement, innovation, and meeting company goals. By prioritizing the development of these characteristics among employees, organizations create an environment that encourages growth, creativity, and high performance. Moreover, the cultivation of psychological safety further amplifies these positive effects. In fact, Keystone Partners found that, “highly engaged organizations experience 41% lower absenteeism, and their employees are more likely to report excellent health.”

As HR professionals, it is crucial to champion resiliency and emotional wellbeing programs within your organizations, fostering an engaged and motivated workforce that can drive innovation and accomplish company goals with confidence. Contact Keystone Partners today to learn how we can best support you in your path to developing a more resilient and psychologically safe culture for your organization.

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Building a Resilient Workforce: Key Strategies & Best Practices for Resilience Training https://www.keystonepartners.com/resources/building-resilient-organizations/ https://www.keystonepartners.com/resources/building-resilient-organizations/#respond Tue, 24 Oct 2023 18:45:41 +0000 https://www.keystonepartners.com/?p=8240 Building a resilient workforce has become a top priority for organizations. The ability to adapt, recover, and bounce back from challenges is not only critical for individual employees but also for the overall success and sustainability of the company.

This article will guide you through the process of building, hiring, and training a resilient workforce. Whether you are a business owner, manager, or HR professional, understanding the key recruiting strategies and best hiring practices for developing resilience within your organization is essential.

If you’d like to learn more about the importance of resilience in organizations, we suggest starting with our previous blog post.

Building vs. training a resilient workforce

A resilient workforce is one that can weather storms, overcome obstacles, and seize opportunities. It is a workforce that thrives in the face of uncertainty and continues to deliver exceptional results. But how do organizations cultivate and nurture such resilience?

It starts with the right recruitment and hiring processes and continues with ongoing resilience training. Finding individuals who possess the necessary skills, mindset, and ability to navigate through difficult times is crucial. Implementing resilient practices in the workplace, such as promoting a positive culture, fostering open communication, and providing opportunities for growth and development, can also contribute to building a resilient workforce.

Training is another key component in developing resilience within the workforce. Organizations can offer resilience training programs that equip employees with the tools and techniques to cope with stress, manage change, and effectively handle challenging situations.

Hiring strategy & long-term goals

A strong hiring strategy is paramount to the long-term success of a business, particularly with regard to factors like resilience. It forms the bedrock upon which an organization’s future is built. By carefully selecting individuals who possess the right skills, values, and adaptability, a business can create a workforce that thrives in the face of adversity. Diversity and inclusion within this talent pool enhance problem-solving capabilities and foster innovation.

Furthermore, a well-executed hiring strategy incorporates succession planning and talent retention, ensuring a smooth transition during leadership changes. Ultimately, it’s the people within an organization who provide the resilience and adaptability required to weather challenges, and a robust hiring strategy is the linchpin to achieving this enduring success.

Key characteristics to look for in resilient recruits

When recruiting and hiring employees with resilience, it’s essential to look for specific characteristics that indicate their ability to bounce back from setbacks, adapt to changing circumstances, and thrive in challenging situations. It’s important to note that each individual is different but these foundational characteristics can give insight into the resilience of a recruit:

  1. Adaptability
  2. Collaborative
  3. Growth mindset
  4. Optimism
  5. Persistent
  6. Sociable

Here’s an explanation of each of the key characteristics to look for and why they are important in building a resilient organization:

Adaptable

Resilient employees are adaptable. They can quickly adjust to new situations, processes, or unexpected changes without becoming overly stressed or resistant. They are open to new ideas and can pivot when necessary to find solutions. During interviews, you can ask questions such as how they handle high-pressure situations to determine if an employee is adaptable. Then, with resilience training, employees are taught how to be more flexible and open to change in the workplace.

Collaborative

Collaboration is crucial in the workplace, especially during times of adversity. Resilient employees work well with others, seek help when needed, and offer their assistance to colleagues. They understand that collective efforts often lead to more robust solutions.When hiring, ask candidates about their experience working with others to determine if they can work well on a team. Collaborative employees can empower their coworkers to participate and create cohesion that is critical to the resilience of an organization.

Growth mindset

Having a growth mindset is a foundational trait of resilient individuals. Those with a growth mindset see challenges as opportunities for learning and growth rather than as insurmountable obstacles. They embrace challenges, persist through difficulties, and believe in their capacity to improve their skills. When recruiting a candidate, look at the skills on their resume (such as leadership experience, continuous learning, and so forth)  to see if they possess a growth mindset that will empower your workforce.

Optimistic

Optimism is the belief that positive outcomes are achievable, even in the face of adversity. Resilient employees maintain a hopeful outlook, focus on solutions, and believe in their ability to overcome challenges. This positive attitude can also be contagious and motivating for their colleagues. If you’re looking to hire optimistic employees, consider giving them a role-play scenario where you can test how they would cope with a setback.

Persistent

Persistence is the ability to keep going in the face of obstacles and setbacks. Resilient employees are determined and do not give up easily. They continue to work towards their goals, even when confronted with difficulties, and can inspire others to do the same. Similar to hiring optimistic employees, ask your potential new hire for examples that show their ability to bounce back and overcome obstacles.

Sociable

Being sociable and having strong interpersonal skills is important in resilience, as it relates to building a support network. Resilient employees can connect with others, seek guidance, and provide emotional support to their peers. They can create and maintain relationships that contribute to their well-being. It can be easy to spot a sociable person during the hiring process by asking questions related to interpersonal and organizational communication skills.

Recruiting tips for a resilient workforce

Creating a resilient organization begins with the right recruitment and hiring processes. 

Building a team with the above qualities ensures your organization is better prepared to overcome obstacles and adapt to evolving circumstances, ultimately contributing to long-term success. Here are five additional tips to use in your recruitment process to help identify candidates with the resilience needed to thrive in a dynamic and ever-changing business environment.

Know what you’re looking for

Before you start the hiring process, have a clear understanding of the specific qualities and skills that indicate resilience within your organization’s context. Resilience can manifest in various ways, such as adaptability, problem-solving, stress management, and a growth mindset. Knowing what you’re looking for allows you to create job descriptions and interview questions that align with your resilience criteria.

Learn how to spot resilience in resumes

Resilience may not always be explicitly mentioned on a resume, but certain experiences, achievements, or skills can hint at an applicant’s resilience. Look for examples of overcoming challenges, taking on leadership roles, or showcasing continuous learning and growth. Resumes can provide valuable insights into a candidate’s history of resilience.

Don’t focus on degrees, focus on skills

While educational qualifications are important, resilience is often more about an individual’s skills and abilities than their degree. Consider a candidate’s practical skills, such as problem-solving, adaptability, emotional intelligence, and communication. A candidate with relevant skills and a track record of applying them can be a valuable asset to your resilient organization, even if they don’t hold an advanced degree.

Ask the right questions

During the interview, ask questions that specifically probe a candidate’s resilience. For instance, inquire about their experiences handling high-pressure situations, coping with setbacks, or adapting to changes. Request concrete examples that demonstrate their ability to bounce back from challenges and learn from them. The way candidates answer these questions can provide insights into their level of resilience.

Give them a role-play scenario

To assess a candidate’s practical resilience and problem-solving abilities, consider presenting them with a role-play scenario that simulates a real-life challenge they might face on the job. Observe how they approach the situation, how they adapt to unexpected twists, and their ability to make decisions under pressure. This can offer a more accurate evaluation of their resilience in action.

What is resilience training?

Once you’ve hired your resilient employee(s), it’s important to continue to foster their resilience using different training techniques. Resilience training in the workplace is a systematic and structured approach to developing and enhancing an individual’s or an organization’s ability to bounce back from adversity, overcome challenges, and thrive in the face of stress, uncertainty, and setbacks. This type of training typically includes a range of techniques and strategies aimed at building and strengthening various aspects, such as:

Continuous transparency from leadership

Transparency is crucial for building trust and resilience in the workplace. Leaders should communicate openly with employees, providing them with a clear understanding of the organization’s goals, challenges, and strategies. This can include times such as admitting when the company is struggling instead of keeping employees in the dark. Transparency creates a shared purpose and empowers employees to adapt to changes and overcome obstacles more effectively. It can even open discussions from a variety of new perspectives that might help the problem, or at least make employees feel more involved and valued.

Recognize times when employees demonstrate resilience

Actively acknowledging and rewarding employees who demonstrate resilience in their work is an essential aspect of resilience training. This recognition can be in the form of praise, awards, or promotions. By celebrating resilience, you reinforce the importance of these traits within the organization and motivate others to develop and display them.

Encourage a healthy work-life balance to avoid employee burnout

Resilience training should include guidance on maintaining a healthy work-life balance. Overworking and chronic stress can lead to burnout, which diminishes an employee’s resilience. Encourage employees to take breaks, use their vacation time, and set boundaries between work and personal life. A well-rested and balanced workforce is a more resilient workforce.

Build an environment with social support for employees

Resilience is often bolstered by a strong support network. Foster a workplace culture that encourages employees to connect with and support one another. Building relationships and a sense of community can help individuals better cope with challenges and access assistance when needed.

Provide ongoing training and support

Resilience training should not be a one-time event. It should be an ongoing process that offers employees the tools and support they need to develop and maintain resilience. This could involve workshops, seminars, counseling services, or access to resources related to stress management, emotional intelligence, and problem-solving skills.

Develop your leadership, talent, & resilience

Remember that building organizational resilience is not solely about the individual traits of candidates but also about creating a supportive and nurturing environment within the organization. This involves leadership that values and promotes resilience, provides resources for employees to enhance their resilience, and fosters a culture that encourages open communication and problem-solving. By recruiting resilient candidates and fostering resilience within your organization, you can better navigate change and adversity while maintaining productivity and well-being.At Keystone Partners, we understand the importance of building resilient organizations. Our services cover not just talent and organizational development but also leadership development. We strive to help organizations cultivate the skills and mindset needed to withstand disruptions and emerge stronger. Reach out to us today to see how we can help you build and train a resilient workforce.

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Guide to Employee Engagement and Retention https://www.keystonepartners.com/resources/employee-engagement-retention/ https://www.keystonepartners.com/resources/employee-engagement-retention/#respond Tue, 10 Oct 2023 15:05:22 +0000 https://www.keystonepartners.com/?p=8221 According to a quantitative analysis by the Corporate Leadership Council, employee engagement can be defined as, “the extent to which employees commit to their organization, how hard they work, and how long they stay as a result of that commitment.” Employee engagement directly correlates to both levels of performance and talent retention.

The importance of an engaged and capable workforce

In fact, the same study found that committed employees were 87% more likely to stay with an organization than their non-committed counterparts. However, out of the 59 organizations surveyed, only 11% of the employees actually exhibited high levels of engagement.

A more engaged workforce leads to heightened critical thinking skills and higher-quality work, which produces opportunities for upward mobility and talent progression. Experience and know-how are improved upon daily as marginal gains can be made with more attentive teams. In turn, deeper knowledge leads to increased productivity which can further engagement levels, creating a feedback loop between these two forces.

Benefits of employee engagement

Engaged employees contribute to a company’s bottom line and help a business grow. In contrast, disengaged employees can hurt an organization’s revenue and further deteriorate company culture. Pooling resources to develop talent can help generate better commitment on the job and cut the costs of having to train new hires. In the long run, investing in employee engagement strategies is less costly than having a high turnover rate and disengaged employees. Some of the benefits of high employee engagement levels include:

  • Higher retention – as we mentioned earlier, employees that are committed to a brand or company are more likely to stay during times of hardship or economic downturn. They also contribute more to the company culture and can influence other employees’ opinions of the organization and management teams, as well as moving up the ladder in your company. Ultimately, this reduces recruitment and training costs for a company.
  • Better performance – it’s no secret that an alert and mindful staff will be less likely to let tasks and details slip through the cracks. When an employee takes care and pride in what they do it is directly reflected in their work performance.
  • Improved client satisfaction – clients and customers can recognize when an employee is content with their work and their environment. Customer interactions benefit from astute and attentive care given by the employee during service.
  • Larger sales – an engaged sales team with better performance and client satisfaction means higher revenue and innovative sales tactics. When your employees are willing to go the extra mile it contributes to larger value transactions.
  • Reduced absenteeism – one of the most valuable metrics, absenteeism can hurt a business and result in burnout for other employees and departments. An engaged team is more willing to show up no matter how tasking the day might look, and they may even look forward to the challenge!

Employee engagement strategies and factors

So then, how can we transition a wavering workforce to a dedicated team? You may have heard about the 5 C’s of employee engagement — those being, caring, connection, coaching, contributions, and congratulating. Besides coaching and congratulating, these concepts are somewhat vague and only offer small insights on how to actively increase employee engagement.

In simpler terms, employee engagement strategies and programs typically entail variations of compensatory initiatives (such as PTO and student loan repayment programs) along with recognition programs. These can come in the form of rewards or company policies, like the ability to work from home.

In greater detail, a study of an international airport with a high turnover rate found four key factors to improve, resulting in better retention rates and higher employee engagement. The determining factors and correlating strategies are as follows:

  1. Human resources & management – creating programs from employee value propositions, career planning, and strategies for improving the supervisor support systems can help retain top-level talent and drive dedication. These initiatives begin with and are maintained by upper-level management and human resources. A third-party organization can aid in the creation of methods for these programs and provide beneficial consulting services.
  2. Work environment – company culture, diversity, and a sense of belonging are all factors of a favorable work environment. Interpersonal relationships with team members and leadership contribute to a better sense of belonging. Therefore, developing your leaders is a solid primer toward laying the foundation for an advantageous work environment. Moreover, a healthy work-life balance and flexible working arrangements can also influence and revamp a work environment.
  3. Rewards and recognition – a culture of recognition where peers can actively congratulate and reward their coworkers for achievements increases employee engagement. Again, leaders in your organization can directly impact engagement through leader-to-team recognition. Furthermore, rewards for milestones and above-and-beyond actions can incentivize employees and help keep them engaged on the job.
  4. Career development – possibly the most important long-term consideration, 94% of employees will stay with a company longer if they have a clear-cut path to furthering their career. Workshops for employees to learn how to effectively manage their careers and for managers to give constructive feedback about goals can further engage your workforce. Mentorship program frameworks can also help with career development and improve professional relationships between senior employees and their juniors.

Talent management and employee engagement

Talent management and retention are often tied to managerial support — the case is the same for employee engagement. A strong upper management and human resources team results in better implementation of the strategies listed above. Human resources management (HRM) is often directly responsible for curating a rewards program, as well as caring for and improving the general work environment. On the other hand, management teams can provide daily recognition of talent and offer mentorship for career development. In summation, both teams help create a stimulating work environment, resulting in higher retention rates. 

Develop your management teams and increase employee engagement

A connected and motivated workforce is vital for the success of any organization. At Keystone Partners, we use decades of expert consulting experience to create tailored solutions that drive upward mobility for all employees within your organization — keeping them engaged and on track in their careers with your company. Our customized leadership development programs are designed to increase employee engagement while also improving company culture. Working closely with our consulting teams ensures your leaders have the skills they need to help their teams excel and grow. Contact us today to learn more about our leadership development and career development programs and how we can help your organization succeed.

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What Makes a Good (or Bad) Leader? https://www.keystonepartners.com/resources/qualities-of-a-good-leader/ https://www.keystonepartners.com/resources/qualities-of-a-good-leader/#respond Mon, 11 Sep 2023 06:00:00 +0000 https://www.keystonepartners.com/?p=8196 Poor leadership and management can stir up trouble for your organization, leading to low team morale, frustration, lack of effectiveness, higher employee turnover, and ultimately increased costs. In a fast-paced and highly competitive business world, it is more crucial than ever to have effective leaders who are not merely appointed based on their tenure but possess the necessary traits and capabilities to drive success. In this article, we delve into the essential qualities of a good leader and highlight red flags that can hinder management. It’s our goal to help you find (or become) the best leader for your teams.

Qualities of a good leader

While certain individuals may naturally possess qualities that make them well-suited for managerial roles, leadership is not exclusively confined to those with inherent talent. This skill can be cultivated and refined through time and effort. If you aspire to enhance your organization’s managerial team, here are a few key leadership traits you can keep an eye out for:

Vision-focused & goal-oriented

A skilled leader has a clear vision for the organization and sets goals that align with that vision. They inspire their team by actively working towards a brighter future and providing a clear roadmap to achieve it. Leaders foster a strong sense of purpose, motivating their team members to actively contribute and collaborate towards common objectives.

Strong communication skills

Influential leaders possess excellent communication skills in conveying their vision and actively listening to their team. They create an environment that encourages open dialogue, fosters collaboration, and ensures everyone is on the same page. Clear and concise communication avoids misunderstandings and promotes a culture of trust that employees value and respect.

Emotional intelligence

Good leaders understand and connect with their team members on a personal level. They demonstrate empathy, actively listen to concerns, and take appropriate actions to support their team’s well-being. Emotional intelligence enables leaders to navigate conflicts, manage emotions, and build strong relationships based on trust and mutual respect.

Decisiveness & accountability

Leaders need to make tough decisions promptly and take responsibility for the outcomes. A great leader gathers relevant information, weighs options, and confidently chooses the best course of action. They also hold themselves accountable for their decisions and actively seek feedback to learn and improve when things don’t go as planned.

Adaptability & resilience

In today’s fast-paced business landscape, leaders must be able to roll with the punches. What makes a great leader is the ability to embrace change, navigate uncertainties, and inspire their team to embrace new challenges. They stay composed during difficult times, learn from setbacks, and rally the team to persevere despite any obstacles that may arise.

Ethical integrity

Ethical integrity is essential for building trust and maintaining credibility as a leader. Good leaders act with integrity, demonstrating honesty, fairness, and consistency in their actions and decision-making. They set high ethical standards, leading by example and creating a culture of accountability within the organization.

Empowering delegation tactics

Good leaders understand the importance of delegating tasks and encouraging their team members to take ownership of new challenges. Great leadership qualities in this area include an aptitude for recognizing individual strengths, assigning appropriate responsibilities, and providing guidance and support when needed. By entrusting others with responsibilities, leaders not only cultivate the skills and capabilities of their team members but also promote a collaborative and empowered work environment.

Continuous learning & growth mindset

A great leader is committed to regular self-improvement. They actively seek new knowledge, stay updated on industry trends, and encourage a culture of learning within their teams to prevent complacency. Leaders with a growth mindset embrace challenges, view failures as opportunities for growth, and promote innovation, which helps propel their team forward and give their company a competitive edge.

Affinity for team building & collaboration

Success is not an individual pursuit but rather the result of a cohesive and high-performing team. A good leader invests in team-building activities, encourages collaboration, and celebrates collective accomplishments to highlight the work done by individuals. By recognizing and leveraging their team members’ diverse strengths and skills, these leaders drive innovation and create opportunities for growth.

An optimistic & supportive outlook

Great leaders inspire and motivate their team members to perform at their best. They lead by example, embodying the values and behaviors they expect from others. Through effective communication, recognition of hard work, and empowerment, they create an environment where individuals feel valued and motivated to excel.

Traits of someone not ready to lead

While everyone has the potential to become a good leader, certain characteristics can hinder organizational progress. Identifying these red flags early on can help managers improve and develop their leadership skills. Here are some bad leadership qualities that may require attention:

Micromanagement tendencies

Leaders with micromanagement tendencies struggle to delegate tasks and trust their team members to take ownership of their responsibilities. They have a strong desire to control every aspect of a project or task, which leads to decreased autonomy and motivation among team members. However, by relinquishing control and building a culture of empowerment, individuals can overcome micromanagement tendencies and develop more effective leadership styles.

Arrogance or close-mindedness

While there’s nothing wrong with being confident, showcasing arrogant behavior can damage working relationships. Those who are overly confident in their abilities often dismiss others’ opinions and ideas. They may also be emotionally closed off and struggle to connect with team members on a deeper, more human level. This behavior creates a negative and alienating work environment, hindering collaboration, innovation, and open communication. Actively seeking diverse perspectives from everyday conversations and honing in on listening skills can help managers overcome this narrow mindset and foster a more inclusive and collaborative leadership strategy.

Lack of self-awareness

Leaders who fail to take responsibility for their actions and decisions perpetuate a culture of blame and mistrust. They may avoid accountability, shifting blame onto others or making excuses, which undermines team morale and hampers productivity. Developing a sense of ownership and promoting accountability is essential to not only nurture a better managerial mindset but also influence others to be open and honest about their mistakes. Leaders need to make it easier for employees to approach them and be honest about mishaps by responding from a place of calm and understanding rather than out of emotion.

Improve the quality and impact of your leadership

For some, great leadership qualities come naturally, but for others, they may take some practical application and time to refine. Going through the above leadership qualities list is an excellent start in understanding and nurturing traits that are beneficial to your managerial approach and addressing those that can have negative repercussions within your organization.

With 40 years of experience and expertise across various industries, Keystone Partners can help you unlock your full potential for long-term success. We offer tailored programs and solutions to enhance your leadership capabilities, talent development processes, and overall organizational effectiveness. 
Contact us today to learn how you can polish your leadership qualities for a more healthy, productive, and thriving workplace!

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How to Measure Diversity, Equity, & Inclusion: KPIs & Metrics for Success https://www.keystonepartners.com/resources/measuring-deib/ https://www.keystonepartners.com/resources/measuring-deib/#respond Thu, 31 Aug 2023 18:26:31 +0000 https://www.keystonepartners.com/?p=8187 We’ve already covered the basics of what diversity, equity, inclusion, and belonging (DEIB) mean and why your organization needs it — which means it’s time for organizations to follow through. While knowing where to begin can be challenging, identifying the key performance indicators (KPIs) your organization needs to reach will be the key to helping you understand what “success” means and how to measure diversity, equity, and inclusion efforts within your organization.

In doing so, not only will all your employees benefit from being able to bring their authentic selves to work, but your business will also benefit from reduced turnover, increased productivity, and greater employee satisfaction.

Important DEI metrics

Before we cover how to track your progress, there are a lot of DEI metrics and KPIs to consider when implementing a new strategy, and it’s okay if not every single category fits with your business model. While the overarching goals of promoting DEI remain consistent, the ways in which these goals are achieved and measured can differ for various industries. What is successful for a law firm will be different from what works for a manufacturer, for example. 

Determine what KPIs and metrics make the most sense for your organization — whether they’re tailored around pay equity, supplier diversity, or engagement with Employee Resource Groups — and go after those goals.

Employee diversity across organization levels

Measuring diversity at all levels helps ensure that individuals from underrepresented groups have equitable access to advancement and leadership roles. While broad, this KPI can help leadership evaluate whether the diversity in the C-suite matches up with the diversity in lower levels of the organization.

Employee diversity vs. applicant pool

Monitoring the diversity of hired employees against their applicant pool helps organizations assess whether their hiring practices are effectively attracting and selecting candidates from diverse backgrounds. By acknowledging whether certain demographics are being excluded more than others from hiring despite a high volume of applicants, your organization can address the issue and support fair hiring practices, talent attraction, and inclusive recruitment.

Internal mobility & advancement

Do certain demographics or groups have fewer opportunities for career advancement, promotions, or internal mobility at your workplace? This KPI answers that question by measuring the movement of employees within an organization as they progress in their careers, take on new roles, and advance to higher positions.

Salaries

While the wage gap between men and women has long been a topic of conversation around workplace inequality, this disparity in earnings grows even further when introducing demographic breakdowns based on race, physical ability, age, sexual orientation, and more. Examining salary data helps ensure that employees are compensated fairly for their roles and responsibilities, regardless of gender, race, or other characteristics. If there are significant disparities in salaries between different groups, or if the organization’s salaries fall far below industry standards, it could indicate a need for adjustments in compensation policies.

Employee retention

Similar to compensation, employee retention is another critical metric for assessing the effectiveness of an organization’s efforts in creating a positive work environment. Monitor the retention rate across different demographics to identify trends and fluctuations. A declining retention rate might indicate underlying issues such as low job satisfaction, poor management, lack of growth opportunities, or inadequate compensation for a given group of employees.

Employee satisfaction/engagement

Employee satisfaction and engagement are KPIs that measure the overall contentment, motivation, and commitment of employees within an organization. These KPIs provide insights into how well the organization is meeting its employees’ needs and creating a positive place to work, and can help identify areas of improvement for several of the metrics already mentioned above.

ERG participation

Another engagement metric, the success of Employee Resource Groups (ERGs), can reflect the success of diversity initiatives and overall workplace culture. These employee networks are typically voluntary, employee-led groups formed around shared characteristics, interests, or experiences, such as ethnicity, gender, LGBTQ+ identity, or veteran status. If your organization has employee resource groups, what does turnout and participation look like for each?

Participation in DEI programs

For companies already implementing formal DEIB education programs, this KPI helps assess the effectiveness of these programs in creating awareness, educating employees, and fostering a more inclusive workplace culture. By measuring attendance and engagement at DEI workshops and training events, organizations can identify trends in participation rates to determine which topics or formats resonate most with employees. This data can then be used to tailor future programs and strategies to meet employees’ interests and needs.

Number of incident reports/complaints

As the name suggests, this KPI can help organizations track (and hopefully decrease) the number of incidents or complaints in the workplace. This KPI offers a cultural assessment of your workplace and policy effectiveness while also providing an early detection system that allows organizations to address problems promptly and prevent them from escalating. However, make sure changes aren’t simply preventing or discouraging people from submitting them, and that it’s actually reducing the need to. 

Partner diversity

This KPI focuses on assessing the organization’s commitment to diversity, equity, and inclusion in its business relationships and supply chain. Vendor diversity is just as important as employee diversity because it shows your organization’s dedication to inclusive business practices and supporting economic growth in marginalized communities.

Customer diversity

Once you assess the diversity within your organization and your partners, it’s time to evaluate the representation of different demographic groups within the organization’s customer base and assess its ability to reach and serve diverse populations. This measure provides insights into your organization’s market responsiveness, competitive advantage, and identity as an inclusive brand. Remember — a diverse employee base attracts a diverse customer base.

Tips for tracking DEI success

Now that we’ve established some key diversity and inclusion metrics, let’s explore some strategies for measuring DEI success in your organization.

Clearly define what DEI success means to your organization

Before you begin, it’s imperative to first establish a clear and tangible definition of what success means for your organization. This will provide a solid roadmap and shared understanding of the organization’s goals regarding DEI, which will help you align efforts across teams and get leadership buy-in. Perhaps even more importantly, establishing metrics for success empowers employees by articulating the value placed on these initiatives, ultimately enhancing employee engagement.

Choose the KPIs that reflect this definition

Once you’ve defined what success means for your organization, choose the KPIs that fit the definition and are the most relevant and insightful for the organization. For example, if your organization’s DEI goals center around improving the diversity of recruiting efforts, current employee diversity versus the applicant pool and salaries are important metrics. Alternatively, if you realize that your organization’s DEI issues are primarily impacting the C-suite, internal mobility and advancement, and even ERG participation, will likely be better metrics to track. 

Set goals for where you want each KPI to be for “success”

Now that you have specific metrics that can be tracked, set benchmarks such as improving attendance by 50% for ERG-sponsored events, decreasing incident reports by 75%, or getting the salaries of all the employees working the same position to be within 5% of each other. These benchmarks should be practical. While it probably isn’t realistic to have every entry-level employee at the exact same pay due to differences in performance, the goal should be to get all their salaries close to each other, especially by demographic standards. 

Use tools like surveys to get pulse checks

There are a variety of DEI assessment tools organizations can use to gauge the success of their initiatives, ranging in complexity from check-in systems and sentiment analysis to simple surveys to see how employees are feeling about progress on company DEI goals. By crafting well-designed surveys that address various aspects of initiatives, organizations can measure employee satisfaction, identify areas of improvement, and uncover potential issues. Just make sure your organization acts on this information, otherwise, you risk your employees losing trust in the efficacy of your surveys, and you’ll lose this valuable data channel. 

Continually check in on progress toward these goals

While a simple tip, regularly checking in on how things are going is key to tracking the success of your initiatives. If there’s been stagnation or if certain things have had more or less impact than expected, it’s important to clock these things early when they can still be addressed. Leaving your goals alone is a great way to lose track of them, and you want to affect positive change in your organization that works for everyone — so keep up with analyzing KPIs, engaging your ERGs, and providing training in the areas you’re trying to improve. 

Continually evaluate measurement processes & goals

Making progress in DEI efforts involves more than just tracking metrics. It necessitates a comprehensive assessment of whether the chosen metrics, processes, and initial goals remain aligned with the organization’s evolving vision for success. Regularly evaluating these aspects ensures that the organization’s strategies remain dynamic and capable of addressing emerging challenges and opportunities. It empowers the organization to refine its approach, pivot when necessary, and uphold a commitment to creating an inclusive environment that aligns with its broader DEI aspirations.

Benchmark against similar organizations in similar industries

Benchmarking against other companies in your industry provides context and a comparative perspective on your DEI progress. By evaluating how your organization’s DEI initiatives and outcomes compare to those of similar companies, you gain a clearer understanding of where you stand in terms of diversity representation, equity practices, and inclusivity efforts.

Benchmarking not only helps you set realistic goals but also allows you to learn from the successes and challenges of others. Tracking these can allow you to identify areas for improvement that might not be evident when evaluating your organization in isolation.

Partner with a 3rd-party group to assist

It can be difficult to define your organization’s DEI goals, select the KPIs associated with them, and track their success all on your own. That’s why working with a third-party consultant can provide your organization with a comprehensive and expert-driven approach to tracking the success of your DEI initiatives. Consultants bring an external, unbiased perspective and specialized expertise, which can offer valuable insights and guidance throughout the DEI journey.

Supercharge your DEIB efforts

Now that you have all the information you need to start thinking about and tracking DEI goals for your organization, partnering with a third-party group can boost your efforts and chances of success. With 40 years of experience in helping organizations across a wide range of industries execute their workplace initiatives, Keystone Partners is the ideal collaborator for your DEI endeavors. Our work transforms company cultures to help your business reach new levels of organizational excellence. Learn more about our solutions and the inclusive culture we can help you build.

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DEI in the Workplace: What it Is, Why It’s Important, & How to Foster it https://www.keystonepartners.com/resources/diversity-equity-and-inclusion/ https://www.keystonepartners.com/resources/diversity-equity-and-inclusion/#respond Tue, 29 Aug 2023 06:00:00 +0000 https://www.keystonepartners.com/?p=8165 In a world where diversity is the tapestry of innovation, and inclusion is the cornerstone of collaboration, organizations are embracing a transformational voyage. Welcome to an exploration of how diversity, equity, and inclusion are shaping modern workplaces, amplifying success, and fostering a culture where every voice finds its resonance.

What is diversity, equity, & inclusion?

In today’s rapidly evolving professional landscape, Diversity, Equity, and Inclusion (DEI) stand as fundamental pillars for fostering a thriving, innovative, and harmonious workplace. DEI acknowledges and values individual differences, ensures fairness, and promotes an environment where everyone feels respected and empowered.

Diversity

Diversity encompasses the broad spectrum of human identities and experiences. It’s about acknowledging and embracing the array of differences that individuals bring to the table. These differences could span race, ethnicity, gender, sexual orientation, religion, socioeconomic status, age, and more.

Why it matters: Diversity introduces a wealth of perspectives, backgrounds, and experiences into an organization. This variety sparks creativity, encourages innovation, and enhances problem-solving. A diverse workforce also better reflects the diverse customer base, improving cultural competence and the ability to meet evolving market demands.

Equity

Equity entails the fair and just treatment of all individuals, ensuring that everyone has access to the same opportunities and resources, regardless of their background. It goes beyond equal treatment, recognizing that different individuals might need different support to reach the same level of success.

However, it can be confusing to discern equity vs. equality. Equality treats everyone the same, assuming equal starting points. Equity focuses on fairness by addressing individual differences, ensuring everyone has equal opportunities despite varying circumstances. The goal is to level the playing field and promote justice.

Why it matters: When equity is prioritized, marginalized groups receive support to overcome historical disadvantages, resulting in a more balanced and capable workforce. By ensuring everyone has an equal chance to succeed, organizations maximize the potential of every employee, leading to increased productivity and job satisfaction.

Inclusion

Inclusion is the practice of creating an environment where every individual feels respected, valued, and empowered to contribute fully. An inclusive workplace goes beyond just having diverse employees — it actively seeks their input, encourages collaboration, and ensures that everyone’s voice is heard.

Notably, “inclusion” can often be mixed up with “belonging.” Inclusion centers on valuing every individual and empowering their contributions, ensuring diverse perspectives are considered. Belonging extends beyond inclusion, emphasizing a culture where individuals authentically fit in and are deeply connected, fostering a sense of acceptance and unity.

Why it matters: When individuals feel valued and respected, they are more likely to contribute fully and authentically. An inclusive environment fosters collaboration and effective teamwork by recognizing each individual’s worth. This, in turn, bolsters employee engagement, reduces turnover, and enhances organizational cohesion.

Other names for DEI

In the pursuit of inclusive workplaces, several variations of DEI emerged to highlight different core principles:

  • D&I (Diversity and Inclusion) – embracing diversity and creating inclusive environments
  • DEIB (Diversity, Equity, Inclusion, and Belonging) – adding “Belonging” emphasizes authentic inclusion
  • DIJ (Diversity, Inclusion, and Justice) – addresses systemic inequalities (justice)
  • EDI (Equity, Diversity, and Inclusion) – prioritizes fairness (equity) as a foundation

Several more exist, but these are the primary names you might come across when it comes to the concept of DEI.

Why is DEI important?

The convergence of diversity, equity, and inclusion isn’t just a matter of social responsibility — it’s a strategic imperative. Organizations that champion DEI principles tend to outperform their peers, attracting top talent, fostering innovation, and creating a workplace culture that resonates with employees and customers alike.

Benefits of workplace DEI

A strong commitment to DEI offers multifaceted advantages that extend beyond a harmonious work environment. Organizations that embrace and prioritize these strategies reap a range of benefits, including:

Enhanced innovation

Diverse teams are a wellspring of creativity and innovation. When individuals from different backgrounds collaborate, they bring unique viewpoints and problem-solving approaches to the table. This diversity of thought sparks new ideas, challenges conventional thinking, and drives the development of innovative solutions that can set an organization apart in the market.

Attract top talent

Organizations that prioritize DEI become magnets for top talent. Skilled professionals seek workplaces where their contributions are recognized and valued, leading to a competitive advantage in recruiting. A diverse workforce is indicative of a forward-thinking organization that offers opportunities for growth and meaningful impact.

Increased employee engagement

An inclusive culture fosters a sense of belonging and psychological safety among employees. When individuals feel valued for their authentic selves, they are more engaged in their work. High levels of engagement correlate with increased productivity, job satisfaction, and loyalty to the organization.

Broader market appeal

Employee diversity aligns with a diverse customer base. A workforce that mirrors the demographics of the market is better equipped to understand and cater to a wide range of customer needs. This alignment enhances brand perception, customer loyalty, and business growth.

Reduced turnover

Inclusive environments also minimize turnover rates. Employees are more likely to stay with a company where they feel valued and can thrive, which reduces the costs associated with recruitment, training, and onboarding of new employees.

Enhanced problem-solving

Diverse teams bring different perspectives to the table, resulting in comprehensive problem-solving. This diversity of viewpoints helps identify potential challenges and opportunities that might otherwise be overlooked. Therefore, varied insights lead to well-rounded strategies.

Cultivated learning environment

Inclusive workplaces promote ongoing learning and growth. Individuals share diverse insights and experiences, fostering continuous education among team members. This creates an environment where skills and knowledge are continually evolving.

Improved decision-making

Inclusive decision-making processes consider a wide range of viewpoints. This approach results in well-informed decisions that consider multiple angles and potential outcomes. It also mitigates the risk of groupthink and encourages critical analysis.

Positive brand reputation

Companies that champion DEI showcase social responsibility. This commitment resonates with customers, partners, and investors, creating a positive brand image that extends beyond products or services to values and ethics.

Enhanced organizational resilience

Diverse and inclusive workplaces navigate challenges more effectively. This is because a variety of experiences and perspectives enable teams to develop versatile strategies and adapt to changing circumstances. The organization is better equipped to weather uncertainties and emerge stronger on the other side.

How to promote DEI in the workplace

Incorporating DEI practices is a strategic investment that positively impacts the entire organization. It fosters a culture of respect, empowers employees, and positions the company for sustained growth and success in an increasingly diverse global marketplace. Your organization can achieve this through:

Bias training

Offer workshops that address unconscious biases and explain how these biases can affect decision-making. For instance, an employee might unconsciously favor candidates who share their own background during the hiring process. Training helps recognize and minimize these biases, leading to fairer evaluations.

Diverse hiring panels

On the note of hiring, ensure that interview panels include individuals from various backgrounds. This prevents homogeneous perspectives from dominating the decision-making process. For example, if a software development team comprises different genders and ethnicities, their insights can lead to more innovative products.

Blind recruitment

Another way to improve DEI through hiring is to remove identifying details from resumes during initial review stages, which reduces unconscious bias. If a candidate’s name indicates a specific ethnicity, this approach ensures they are evaluated solely on their qualifications.

Inclusive language guidelines

Create guidelines that discourage exclusionary language and stereotypes and ensure respectful communication. For instance, instead of using gender-specific pronouns, opt for gender-neutral alternatives like “they” or “them.”

Mentorship programs

Develop mentorship initiatives that connect employees from diverse backgrounds with experienced leaders. This offers career guidance and helps in navigating organizational dynamics and internal mobility. An example could be a senior manager mentoring a female employee to help her advance to leadership roles.

Employee resource groups

Employee Resource Groups (ERGs) are voluntary employee-led organizations uniting individuals with shared characteristics or interests, such as gender, race, or LGBTQ+ identity. ERGs foster community, diversity, and inclusion, offering networking and development opportunities, and enhancing the workplace environment. This can lead to enhanced morale and sense of belonging.

Flexible work arrangements

Offer flexible schedules or remote work options to accommodate diverse needs. This can help employees balance work and personal responsibilities, such as a parent opting for a flexible schedule to manage childcare.

Pay equity audits

Regularly review salary structures to identify and rectify gender or ethnicity-based pay discrepancies. For instance, analyzing data might reveal that women in certain positions are consistently paid less than their male counterparts.

Inclusive leadership training

Train managers to lead inclusively by fostering open conversations and embracing diversity. This can result in a more engaged and productive team across the board. A manager might encourage team members to share diverse viewpoints during meetings to ensure all perspectives are considered.

Celebrating diversity

Organize events that celebrate various cultures and traditions. This educates employees about differences and promotes appreciation. An international food festival can introduce employees to different cuisines and customs.

Develop an equitable workforce today

Embracing DEI isn’t just a choice — it’s a strategic imperative. Our exploration of DEI’s benefits underscores its power to transform workplaces into vibrant hubs of innovation and growth.
To turn this vision into reality, Keystone Partners is your ally. With our proven expertise in talent development, leadership training, and organizational change, we’re equipped to guide your journey toward a more diverse, equitable, and inclusive workforce. We can help attract top talent, nurture an inclusive environment, and cultivate leaders who champion DEI. Together, we’ll build a workforce primed for success in a rapidly changing world. Get in touch today to see how we can help!

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Talent Mobility Strategy: Best Practices, Frameworks, & More https://www.keystonepartners.com/resources/internal-mobility-best-practices/ https://www.keystonepartners.com/resources/internal-mobility-best-practices/#respond Tue, 25 Jul 2023 06:00:00 +0000 https://www.keystonepartners.com/?p=8111 Talent mobility is more than just a buzzword; it’s an indispensable strategy for fostering organizational innovation, diversity, and growth. Rather than a rigid, hierarchical system of roles, talent mobility encourages an adaptive, fluid approach to job roles, allowing employees to explore various aspects of their potential and talents.

In our last article, we discussed the basics of talent mobility — but now we’re diving deeper and breaking down how organizations can implement a successful internal talent mobility strategy into their existing framework, including best practices and potential pain points to avoid.

How does a talent mobility program work?

A talent mobility framework can be thought of as a two-way street. On one side, talent mobility caters to the modern workforce’s desires for variety, learning, and development opportunities. On the other, it allows businesses to cultivate a more resilient, flexible, and innovative workforce, ready to adapt and respond to a rapidly evolving market. As a whole, it gets all stakeholders to where they want to be and organizes all of them in a framework that makes internal movement more fluid and deliberate.

Creating a talent mobility framework

With the right steps, you can help ensure that your employees effectively transition between roles, expand their skill sets, and adapt to changing business needs. In general, you should:

  1. Define your organization’s objectives
  2. Get complete stakeholder buy-in
  3. Conduct a skill gap analysis
  4. Establish clear career pathways
  5. Build a learning and development strategy
  6. Create a performance evaluation system
  7. Communicate the new strategy to the organization
  8. Ensure employees have the necessary resources and support
  9. Monitor and evaluate the progress of your new framework
  10. Find ways to continually improve upon your talent mobility strategy

While this blanket approach can guide you in creating a comprehensive talent mobility framework, it’s essential to adjust and modify these steps regularly according to your organization’s specific needs, objectives, and culture. Remember, creating a talent mobility framework is not about implementing a rigid system, but rather fostering a fluid environment that encourages continuous learning, growth, and adaptability.

Talent mobility best practices

Now that you know the general steps for implementing your framework, these internal mobility best practices can help you achieve success:

Prioritize performance management

After you’ve developed a solid mobility framework, implement a robust performance management system to help streamline employee evaluations, align individual goals with organizational objectives, and ensure your company’s talent mobility efforts are tracked and measured. Create a system that recognizes and rewards mobility, not just traditional notions of success. This can be done through performance reviews, internal acknowledgments of excellence, and regular feedback.

Provide supportive resources

It’s crucial to have supportive resources before, during, and after implementation — otherwise, you may get stuck when trying to execute your talent mobility strategy. For example, consider creating a framework that supports your new talent mobility structure, including tools and resources for skill assessment, succession planning, and performance evaluation.

Implement transparent communication channels

Establish clear channels for employees to express their interest in mobility opportunities, which can help you find ideal candidates for open positions. Promote open dialogue between managers and employees to help ensure that aspirations and potential career moves are regularly discussed. Transparent communication builds trust and helps better align individual goals with organizational needs.

Use technology to your advantage

Leverage technology to manage your new talent mobility framework more effectively. This can include anything from using AI-driven skills assessment platforms to digital tools for learning and development for automated performance tracking and better cross-functional communication. It’s also worth looking into creating a central database to track employee skills, experiences, and career aspirations, which can aid in identifying suitable internal candidates for new positions.

Nurture a culture of continuous learning

Encouraging employees to embrace new challenges and expand their skill sets is a great way to help strengthen the success of your framework after it’s been implemented. Offer professional development programs, mentorship opportunities, and cross-functional training initiatives for added support. By investing in your employees’ growth, you empower them to take on new roles and responsibilities and make the most of talent mobility.

Hurdles to avoid

From our experience in talent development, we’ve seen some common mistakes that have hindered the success of talent mobility frameworks and plans. By learning from these pitfalls, organizations can proactively avoid them and ensure a smoother implementation process. Let’s delve into the common roadblocks you may encounter on your journey toward unlocking the full potential of your workforce:

Lack of clear career paths

Without well-defined career paths and progression opportunities, employees may feel limited in their growth prospects. Ensure that employees clearly understand how talent mobility can benefit their careers and offer guidance on potential development paths.

Inadequate communication & feedback 

Poor communication, commonly caused by a lack of internal transparency, can minimize talent mobility efforts. To combat this, regularly communicate about plans, available opportunities, and constructive feedback. Also ensure that you address any concerns promptly and that managers are actively engaging in career development discussions.

Insufficient training & development resources

Failing to provide adequate resources for training and development can hinder even the most driven employees. Invest in comprehensive training programs, mentorship plans, and access to relevant learning resources to equip employees with the skills and confidence required for new roles.

Resistance to change 

Change can be met with resistance, especially when employees are comfortable in their current positions. Overcome resistance by emphasizing the benefits of talent mobility, showcasing success stories, and providing a supportive environment that encourages employees to embrace new challenges.

Lack of tracking & evaluation

Without a systematic approach to track and evaluate talent mobility efforts, it becomes challenging to measure their effectiveness. Establish metrics to assess the impact of talent mobility on key performance indicators, such as employee satisfaction, retention, and productivity. Regularly review and refine your internal mobility framework based on these insights to keep it relevant.

Upgrade your talent mobility solutions

To achieve a thriving talent mobility framework and harness the full potential of your workforce, collaborating with industry experts who specialize in this domain is essential. With a wealth of expertise in talent management, leadership development, and strategic workforce planning, Keystone Partners offers tailored solutions to assist organizations in establishing and executing successful talent mobility programs. With our deep understanding of industry dynamics and commitment to delivering measurable results, you can trust us to be your partner on your journey to unlocking the power of talent mobility. Contact us today to learn how we can help you create a talent mobility framework that works for your business!

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What is Talent Mobility? Types, Benefits, & More https://www.keystonepartners.com/resources/what-is-internal-mobility/ https://www.keystonepartners.com/resources/what-is-internal-mobility/#respond Tue, 18 Jul 2023 06:00:00 +0000 https://www.keystonepartners.com/?p=8110 In today’s competitive business landscape, retaining top talent remains a challenge for many organizations. According to the U.S. Bureau of Labor Statistics, around 3.8 million people quit their jobs in April 2023 alone, with similar numbers quitting monthly since the start of this year.

While a simple but costly solution would be to fill up these open positions with new hires, many companies are shifting instead to a strategy called talent mobility, which empowers internal employees to explore alternative career paths within the business. In this way, organizations can optimize their workforce, nurture employee development, enhance overall business outcomes, and keep employee turnover at bay.

Let’s explore what talent mobility is, why it matters, and how it can benefit your business from the inside out.

What is talent mobility?

Talent mobility is a management strategy that involves moving employees within an organization to other roles and responsibilities as internal needs shift. It goes beyond traditional notions of career progression, enabling employees to explore and build novel skill sets by taking on new positions and working with different teams.

Why it’s important

Talent mobility creates an environment where employees can continuously learn, grow, and remain engaged with their work. By providing them with the opportunities to do so, organizations can retain valuable employees wanting to expand their skills and experiences. For employees, this demonstrates an organization’s commitment to fostering individual growth, enhancing their reputation as employers and reducing turnover rates (and the associated costs of hiring).

Additionally, talent mobility supports internal flexibility and adaptiveness, allowing businesses to respond effectively to rapidly evolving market demands and technological advancements. Plus, unlike external hires who have to learn about the company and its operational processes from the ground up, internal hires have a much smaller learning curve to tackle, making the transition more seamless.

Talent mobility vs. internal mobility

While they sound like two different strategies, talent mobility and internal mobility mean the same thing and can be used interchangeably. Both terms refer to the concept of leveraging internal talent to meet organizational objectives by moving employees to open positions within the company.

Talent mobility vs. succession planning

The difference between talent mobility and succession planning is that the former provides more room for immediate adaptability, whereas the latter focuses solely on the future of management. While traditional succession planning focuses on long-term goals and identifying potential leaders within an organization, it can be limited in its effectiveness if talent retention is low. Talent mobility complements succession planning by not only helping organizations retain individuals with leadership potential but also expanding the pool of employees capable of filling critical positions. By embracing talent mobility, companies can ensure a more agile and robust succession planning process.

Types of talent mobility

Employees can move in a variety of directions within an organization. Here are a few of the common types of internal mobility and how they can benefit both employees and businesses.

Upward mobility

Upward mobility involves the vertical movement of employees within the organizational hierarchy — in other words, a promotion. For example, an employee may progress from an entry-level role to a managerial position, which comes with new pay, new responsibilities, and a higher level of accountability.

Lateral mobility

Lateral mobility emphasizes horizontal movement within an organization, allowing employees to explore different departments or functional areas within their current pay grade and expertise level. For example, a content strategist who assumes the role of a social media specialist will have new tasks to fulfill, but the position will have the same level of seniority as the previous role. This type of mobility encourages cross-functional collaboration.

Project-based mobility

Project-based mobility involves assigning employees to specific projects or initiatives outside their regular roles. For instance, let’s say a retail store has a special promotional campaign coming up for the launch of a new product. To ensure that all goes smoothly, the company may require all associates and managers to help brainstorm in-store activities, giveaways, work schedules, and other crucial ideas together to help contribute to a successful launch. Project-based mobility allows individuals to develop new skills, build networks, and contribute to the organization’s overall success by getting a peek into how all moving parts work together.

Benefits of strong talent mobility

Excellent talent mobility management helps keep employees happy and motivated, reaping several notable benefits for organizations as a whole, including:

Deeper employee engagement

Talent mobility fosters a sense of purpose and improves engagement among employees. When individuals are provided with opportunities to grow and develop within the organization, they feel valued, motivated, and invested in the company’s success. This helps drive more favorable business outcomes by aligning employees’ passions and talents with organizational goals. Map out ways each employee can bring more to the table and match those areas with individual career goals to make each journey and role more fruitful and fulfilling.

Better performance & productivity

By leveraging talent mobility, organizations can access the untapped potential of their workforce. When employees are exposed to new challenges and responsibilities, they become more skilled, confident, and capable of delivering high-quality results, enabling companies to have a multifaceted workforce that can bring diverse perspectives and experiences to each role. Invest in professional development resources to encourage your employees to learn new aspects of the business and find their place within it.

Enhanced organizational agility

Talent mobility equips organizations with the flexibility to adapt to changing business environments. By embracing a talent pool with a mosaic of experiences and expertise, companies can quickly respond to market shifts and seize new opportunities. So don’t be afraid of change — it can end up changing your organization for the better.

Lower turnover & onboarding costs

According to a recent report by the Society for Human Resource Management (SHRM), a lack of career advancement opportunities is a top reason for turnover across companies. Committing to talent mobility initiatives demonstrates that you’re dedicated to helping employees achieve growth and new potential within your organization. In turn, this helps attract and retain top performers, while minimizing costs associated with recruiting and onboarding new employees. Take the time to conduct regular evaluations and surveys to keep in touch with your employees, learn what they expect from your company, and how you can best support their career paths.

Stronger succession planning

As mentioned earlier, talent mobility is a great supplement to succession planning strategies. By actively developing employees through mobility opportunities, companies develop a robust pipeline of well-rounded talent capable of assuming key leadership positions in the future. 

Develop from entry-level to leadership with Keystone Partners

In order to implement a successful talent mobility framework and unleash the full potential of your workforce, partnering with industry experts is crucial. That’s where Keystone Partners comes in. With over 40 years of extensive experience in leadership development, career management, and more, Keystone Partners provides comprehensive solutions to help organizations create and implement effective talent mobility programs.
From personalized leadership coaching to targeted training programs, we’ll help your team and business achieve sustainable success not only in today’s dynamic landscape, but in the challenges to come. Get in touch today!

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Managing New Managers: Tips for Coaching First-Time Leaders https://www.keystonepartners.com/resources/managing-managers/ https://www.keystonepartners.com/resources/managing-managers/#respond Wed, 21 Jun 2023 15:03:36 +0000 https://www.keystonepartners.com/?p=8069 Many of us discover, usually later in our careers, that managing managers can differ vastly from leading individual contributors. In a senior management role, we strive to instill confidence in and set an example for junior managers – our influence and guidance impact not only the mentality of our new report but also their entire team. If you find yourself in a senior leadership role with new junior managers, be mindful that someone new to management is just starting to figure out what it means to lead a team. The challenge of managing new managers is learning to build up their management skills while giving them enough space to take responsibility for their team’s productivity. 

For the sake of this article and to avoid confusion, we refer to new entry-level managers as either “new management,” “reports,” or “junior managers.” Supervisors of new managers are referred to as either “senior management” or “upper-level management.”

Managing managers compared to individual contributors

Individual contributors showcase specialization within their field and are typically required to take responsibility for a task rather than another employee’s productivity. In contrast, a manager focuses on leading a group, building relationships within their team, and reporting directly to a supervisor. As supervisors (senior-level management), our scope of responsibility is even wider – we pay attention to how teams and junior managers interact with one another. 

Furthermore, managing new managers requires a different set of people skills than the management of individual contributors. For example, junior-level managers can correct their employees’ behavior in front of their peers when needed. However, upper-level management might need to apply more tact when addressing issues with their subordinates to avoid undermining them in front of their team. We account for our new report’s growth and development and their perceived autonomy among their employees.

Benefits of developing new managers

Coaching new managers to further their career development serves not only the individual but the organization as a whole. A skilled leader makes work more enjoyable for everyone on their team and is more likely to see a future with their employer. We can envision junior-level management as the hinge pin holding open the door to success.

Some of the benefits of creating strong team leaders include:

  • Talent retention – Creating effective managers reduces burnout and miscommunications among their subordinates, leading to better employee retention.
  • Internal mobility – Building up leaders to take on greater accountability empowers them to take on your responsibilities, resulting in promotional opportunities for everyone. 
  • Succession planning – Going hand-in-hand with the last benefit, having many skillful leaders closes knowledge gaps and makes it easier to find replacements for losses in management personnel. 
  • Team efficiency – Developed managers promote team synergy, which influences profitability, talent retention, and company culture.

How to manage managers

The requirements for top-down mentorship can vary from industry to industry. Each organization has unique resources, personnel challenges, and industry-specific goals. Suffice to say, mentorship requires personalized approaches based on the circumstance. Even so, there are certain aspects of managing a new manager that always hold true. We’ve created a list of these universal tips for mid-level or upper-level managers coaching new managers – which should apply to nearly every industry or company.

Be a role model

Becoming the ideal model of a manager and leading by embodying the principles you wish to see in your reports benefits everyone. Double standards can be detrimental to a new manager’s mentality – without a clear example of self-accountability and leadership, your junior manager could feel lost. Moreover, the pressure of taking on a management role for the first time is amplified when definitive standards aren’t in place. For instance, if we want our new manager to resolve conflicts in a collected manner, it’s in everyone’s best interest that we do the same.

Meet with their team

Meeting with the individual contributors on your junior manager’s team allows you to gather feedback about your report’s management style and temperament. You can also create opportunities to witness how they interact with their team members, ensuring they are motivating and communicating effectively. Keep in mind that these meetings shouldn’t be intrusive or put your junior manager on the spot. We recommend creating a comfortable atmosphere for these interactions – either by scheduling them well ahead of time or planning a group coffee hour.

Help managers create a new mindset

One of our greatest challenges when managing junior managers is developing how your subordinate’s approaches initiatives. Your report might find difficulty in making the mental shift from a technical to a tactical mindset. To help them develop their critical thinking skills, push them to think about how they can support their team rather than how a project will be accomplished. Give them adequate space to grow while encouraging them to figure out solutions by themselves; try to refrain from giving them the answer to every problem. Additionally, you can offer them reading materials about the leadership mindset or enroll them in career development workshops.

Instill trust, confidence, & credibility

When managers don’t feel trusted or don’t have room to make mistakes, they might be less transparent about projects or team challenges. Small affirmations, rewards, and recognition can instill confidence in your reports – when mentoring or correcting their mistakes, remind them of their progress. Also, try to refrain from lecturing them in front of their employees; this could undermine their credibility as a leader and have long-lasting repercussions. If a junior manager is confident and feels trusted, they are more willing to take risks and ownership of group productivity, resulting in faster career growth.

Let them find their own style

Everyone works differently. Your subordinate might need extra time to find their way of resolving conflicts and motivating individual contributors. To reiterate, try to avoid asking them about technicalities in projects or micromanaging their group’s tasks for them. Sometimes, being deeply involved in the operations of your new junior manager’s team could erode your report’s authority. Allow them the time to find their leadership style without imposing your own.

Get feedback

Talk to your new managers about your relationship with them, how they perceive their new responsibilities, and ways you can improve your management style. Gather insights on how to support them or what challenges they need the most help with. By doing so, you can further your leadership skills, creating a feedback loop reinforcing everyone’s development. 

Dos & don’ts 

We should acknowledge that our junior managers are sandwiched metaphorically between instructing individuals and informing their administrators of daily operations. On top of that, they need to learn a whole new set of skills they haven’t used before.

Some extra tips to help grow your new manager’s leadership potential include:

  • Reminding them that their contributions, while intangible at times, are highly valued
  • Promoting psychological safety and an open-door policy to discuss challenges
  • Reinforcing the habit of continuous feedback between them and their team

A few pitfalls and roadblocks common in the development of managers are:

  • Not setting clear expectations and being ambiguous with feedback
  • Expecting your leaders to grow without mentorship or coaching
  • Forgetting to emphasize reviewing operations and planning

Support new managers with external resources

No matter the size, organizations might not have the time or personnel to find and develop new leaders effectively. If you find knowledge gaps between entry-level managers and upper management, consider leveraging help from an external consultancy. At Keystone, we bring decades of experience in talent retention and career management to help your business grow new leaders. Enlist our professional career services and start setting up your new managers for success today!

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