The balance between competing priorities.

I just received the recent HBR for November and saw an interesting article on "What makes Analysts say Buy"?  The article highlights the factors that drive analyst buy recommendations across Asia, Europe, the US and Latin America.  Of the 12 factors that are rated from low to high importance. There were only two factors in the Very High Importance category that were consistent across 3 out of the 4 regions. In Asia, Latin America and the United States it was Projected Industry Growth and for Asia, Europe and the United States it was the Quality of Top Management.  It really highlighted to me the importance of building leadership. 

One of the challenges organisations face at the moment is their need to balance short term priorities such as taking costs out of the business whilst at the same time preparing for the future by building leadership capability. We see organisations at the moment taking costs of the business and one of the first things that is cut is their people development budget.  The implications of this may be a drop off in employee engagement in the short term but longer term there may be a drop off in the quality of leadership. 

Given that the quality of management is an important factor in valuing a business organisations need to get smarter at developing future leaders that doesn't involve spending $.  One key way of doing this and it costs nothing is coaching.  We know from research that most people learn from on-the-job experiences and if managers can be more intentional about their coaching then we know from experience there area a number of benefits.  First, it can result in an increase in the effectiveness of the relationship between the manager and the employee and second, an increase in the employees learning agility.

So even though organisations are taking costs out of the business it does not mean development takes a back seat.  It is equally important to build future capability and one cost effective way of doing that is through coaching process between the manager and staff member.

Willpower, Writing & Irony

I am currently embarking on a PhD in Leadership.  Well I have a hurdle or two to get through but at this stage I will be starting stage 1 in a few weeks.  In my research into doing a PhD, and yes I have heard the horror stories, I came across a constant piece of advice.  That piece of advice is make sure sure you write everyday.  I then thought how do I get into a discipline of writing every day.  Let's face it I can get very busy with work, travel, exercise and social engagements (Spring carnival anyone!).  I then look at someone like Jane who works with me in Brisbane.  She is about to have her fourth child and is able to churn out an entertaining and informative blog along with managing her very busy life. 

I was reminded of my last blog entry back in October 2011.  Yes, 12 months ago!! It was after I read a book about willpower and the importance of discipline.  It seems that things got in the way and I made time for the urgent things but maybe not the important things. Or maybe I lacked discipline.  Recently I read another book about Willpower by Kelly McGonigal and was reminded - again- that willpower is something that needs to be practised.  I now mindfully meditate 10 mins per day every second day as a way of practising.  But I don't write that often and if I think about the requirements of doing a PhD I know I need to get in the groove of deliberately practising writing.

So my willpower challenge is to write on this blog 3 times per week for the next 12 months. Not everyday but it is doable.  I hope that it will be interesting and thought provoking and either way if I stick to doing it I am sure I will get better at writing as well as provide discipline for doing a PhD.

For those interested in Kelly McGonigal's work - See this youtube clip.

http://www.youtube.com/watch?v=NbjjIId54g8