Posts Tagged ‘adding value’

Ambiguous Titles In An Unambiguous Business

Friday, May 15th, 2015

Do you work in a function that many of your colleagues, clients and business partners ask “Precisely, what does [fill in your function] do?”

I am reminded as much by separate but related conversations. “Strategic Advisory” functions in reinsurance brokers, who offer mostly tactical not strategic advice. “Operating Partners” in private equity firms, who are not seen as or rarely act as  “partners” in the traditional sense of the word. “Client Advisory” in a global art business, who are largely low-paid implementers, not seen as a peer of the client, and rarely provide advice.  The function’s title is a “catch all” sobriquet for a range of activities, which might differ by products/service offered, markets served, client groups and so on.

The only way to make any sense of these functional titles is to ask “Tell me in one or two sentences, how are your clients better off or personally better supported by your work?” Lo and behold, most people enter into a preamble about the multitude of tasks and activities they undertake, in the belief that the listener will be exponentially wiser. I point this out because it gets to the heart of why so many businesses in finance, insurance and professional services have become masters at making the simple complex from the moment they hand you a business card and rarely articulate their value impressively.

My observation is that in future we will see a dramatic increase in functional titles descriptive of the specific value and results that the client receives, not the activity performed or the empty sobriquet. The alternative is we see an increasing reversion to core functional titles (Marketing, Sales, Delivery, Operations etc.).

There is one obvious proviso. Individual titles within these functions that are for grandeur rather than impact will be scorned or treated with increasing cynicism. We are awash with “Chiefs” in many businesses (Chief Human Resources Officer, Chief Customer Experience Officer, Chief Risk Officer), yet few in reality participate at the top table in setting the firm’s strategy. They collect the kindling for the wood fire but they do not get to choose the menu for the night’s dinner or decide how rare or well done the steaks shall be cooked.

Now let’s get back to the hard work of improving our client’s well-being.

© James Berkeley 2015. All Rights Reserved.

 

 

 

It Is Who You SHOULD Know That Is Important

Monday, October 13th, 2014

If you were asked to name the three most impressive people you know today, would they have been the same individuals you would have listed last year and probably the same three next year?  What is their key attribute (content knowledge, expertise, experience, interpersonal skills, special skills, contacts etc)?

I was reminded of this question in a discussion with friends about an individual, who has risen to the top echelon of a large global bank. When we tried to pinpoint the “cause” of his success, it was harder to point to one skill or event that dramatically changed his fortunes. Indeed, we concluded that his expertise lay in playing the political game. He continually knew or developed relationships with the “right” people.

My point here is that we make judgments about others that often don’t warrant the accolades we bestow upon themselves. Equally, we make judgments about our own lives that often belie or ignore our own success and the increasing or decreasing interest to others.  This is important because understanding who we are and how we might adapt our “past” (experience, expertise, accomplishments) to transform our employer or the clients of our employer’s “future” (stronger brand, increased sales, improved image) is essential to understanding and articulating our own self-worth. Almost everyone in the corporate arena in mid and large sized organisations has a need to reinvent or recast their worth as their firm’s strategy evolves. Yet anecdotal evidence suggests over 70% of people are so immersed in their own day to day work activities that they don’t reflect on their increasing/decreasing value to others, largely ignore who ideally has a need for that value and how to attract those individuals to them. The consequence is that they hit “unforeseen surprises” during their career (overlooked internally, for a promotion or an interesting work assignment, externally, a client give  or worse, let go from the firm). Yet many of these instances are entirely predictable.

How do you avoid these troubled waters? Give thought to the following:

1.  What are the three most impressive accomplishments, experiences, skills developed or victories and setbacks I have learned from in the past year?

2. Who has the highest need for individuals with those qualities (internally and externally)?

3. Where are they located?

4. What do they read, listen to, watch?

5. Where do they hang out (social gatherings, events, conferences and so on)?

6. How can you meet those people and when you are in their presence, how do you make an effective and enduring connection?

Forget the corporate appraisal process. Think about your answers to these questions and set yourself the task of identifying, building and exploiting these connections. Schedule time in your weekly and monthly calendars. If your three most impressive people you know are the same as last year, and the year before that you might very well find that you have ceased to become an increasing object of interest to the people you should know in your organisation and elsewhere. Don’t allow others to decide your future, do something about it yourself.

©   James Berkeley 2014. All Rights Reserved.