5 MAJOR Reasons Millennial Leaders Fail (and what to do about it)

Statistics show that the leadership crisis is real—so real, in fact, that nearly 50% of recently-promoted managers fail in the first eighteen months of employment (source: Leadership IQ). Worse yet, this failure rate is expected to be higher, some say as high as 75%. According to a report by Challenger, Gray & Christmas, our outplacement partners based in Chicago, there have been 1,107 CEO departures so far this year.

So, what’s wrong? Why is leadership in serious trouble? And an even bigger question, what can we do to improve our efforts for our leaders of tomorrow?

For starters, let’s go over the new generation of executives that is taking over. They are known as Generation Y. Echo Boomers. Gen Next. Peter Pan Generation. Whatever you want to call Millennials—the group of people born between about 1980 and 2000—this much is true: more than two million of them are stepping into first-time leadership roles each year in the United States alone (source: The Ken Blanchard Companies).

Each generation brings its own perspective and set of traits. According to Deloitte’s third annual Millennial Survey, the Millennial generation is the savviest, most-educated generation in history. And they are set for record-breaking success.

Exhibit A:

• 33-year-old Mark Zuckerberg (Co-founder and CEO of Facebook)
• 36-year-old Brian Chesky (CEO of Airbnb)
• 26-year-old Rebecca Garcia (Co-founder of CoderDojo NYC)
• 27-year-old Evan Spiegel (Co-founder and CEO of Snapchat)
• 31-year-old Sean Rad (Co-founder of Tinder)
• 33-year-old Elizabeth Holmes (Founder and CEO of Theranos).

The road to success isn’t magic, though; it is notoriously challenging and paved with failure. Great leaders fail too—even the most experienced fall, and none have started out on top.

Warren Buffet bagged groceries. Walt Disney was an ambulance driver. Michael Dell washed dishes.

Case in point: there’s no elevator to success. And when the stairs or the ladder breaks from under you, how will you rise?

With the young and hungry Millennials stepping into executive positions, let’s look at the 5 major reasons Millennial leaders fail (and what to do about it).

1.-They haven’t been groomed for management

Great leaders don’t sprout on trees, do they? You might have a fancy C-level title, a corner office with a view, and the power to make important company decisions, but being in charge doesn’t make you a leader.

While 78% of Millennials feel like leaders now (source: The Hartford), they are aware that they need training and development to be effective leaders in the workplace.

What to do about it: Consider coming up with a leadership plan of action. If you can’t offer training, provide Millennials with ideas (and funding if possible) for training resources, such as webinars, courses, books, and blogs. Here’s another idea: what if, instead of telling them what to do, we challenge them to make differences?

2.-They speak more than they listen

Millennials are bright, well educated, and experts when it comes to many forms of technology. This can be their downfall. Wise leaders understand that they don’t have all the answers, that they can’t do it alone.

What to do about it: Millennial leaders should constantly seek out new opportunities and new relationships that will help them grow as a leader and as a person. Be open to ideas and ask more questions than you deliver answers or opinions to. Ask yourself, “How can I improve?” If you are not asking that question, you’ll never succeed. Have a slice of humble pie.

3.-They don’t have support

Leadership isn’t all rainbows and glitter; it can be an extremely lonely place. Leaders are always balancing constant demand and pressure. And there are always risks involved. That’s just the nature of the beast. But just because someone is high up in a company doesn’t mean they don’t need 1 on 1s. If Millennial leaders don’t have support, they will struggle.

What to do about it: Millennial leaders should have a coach or a mentor who will take interest in their success, someone who will guide them, support them, and give them room to explore new ideas and solutions without bossing them around. For all the talk of entitled Millennials, they actually like constructive advice. Involve them in business discussions, coach them to become better, and they will absolutely become better.

4.-They don’t stay on course

Everyone wants results, but not everyone wants to put the proper energy, effort, and planning needed to make it happen.

Newly-promoted, or hired, Millennial leaders need to deliver results yesterday—which can be a good thing, when you belong to an impatient generation, especially when it comes to your career. But when push comes to shove and goals aren’t being met, Millennial leaders can be distracted by the complexity of leadership. The body and mind will always try to pull you to revert to comfort zones. This is where discipline comes in.

What to do about it: Trust your purpose and plan. Don’t scrap it because it’s difficult. Focus. Prioritize. Keep the main thing the main thing. Get that annual budget in today. Complete risk analysis on potential investments. Review reports to come up with solutions or improvements. This is the main thing. Keep the main thing the main thing. Discipline yourself. Your future self will thank you when you are successful.

Millennials already face the stigma of their generation. As a Millennial leader, you will be confronted by scrutiny, resistance, distrust, and skepticism. It can become very easy to give up on yourself or give into the pressure. Believe in everything you do. People will doubt you. Prove them wrong.

5.-They don’t practice self-leadership

If you’ve been on an airplane before, you know that the flight attendant will always tell you to put your mask on before helping others if the cabin loses pressure.

Well, the same applies to leadership. Millennial leaders need room to practice self-leadership and make sense of their experiences. And they’re not going to be their own leaders if they’re not taking a step back to get a good, deep look at their own beliefs, assumptions, behaviors, and expectations.

What to do about it: Lead yourself first! The Millennial leader must not only know and understand their job but themselves. Simple reason: how can you “walk your talk” if you don’t know what the talk should be? How can you “lead by example” if you don’t know what example you’re trying to set? And more than that, if you’re not an example yourself, how do you expect others to follow? As the Greeks said, “know thyself.”

The point to take away is that this isn’t a time to sit back and wait for events to unfold. As Baby Boomers retire in increasing droves, we need to take steps immediately to better train our young Millennial leaders for their first roles. We can either look at the old days and the old ways, or we can support this new breed of leaders and start preparing them. Done well, they will be ready to surpass the successes of the past and lead the world to even greater heights.

By Fernando Ortiz-Barbachano

CEO & Founder of Barbachano International (BIP) the Human Capital Solutions leader in Mexico, Latin America and the USA offering high-impact executive search, executive coaching and outplacement. Directly and through our partners, we have offices in Mexico, USA, Canada, Brazil, Argentina, Colombia, Chile, Peru, Uruguay, and Ecuador. Corporate offices are in San Diego, California. barbachano@bipsearch.com. Phone: 619-427-2310.

Let us show you what our unparalleled expertise can do for you.

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10 Leadership Qualities that Every Top Executive Should Have

Why do Introverts Make Better Leaders?

Most of us don’t think successful leaders have an introverted leadership style, since, by all appearances, extroverted people make wonderful public speakers and engaging networkers. Being able to speak effectively in public and knowing how to network well are two very important talents most CEOs and organizational leaders need to possess if they want to thrive. Most people assume introverts aren’t able to do either one of these necessities well. After all, a USA Today poll says 65% of executives view introversion to be an impediment to productive leadership.

Perhaps even more tantalizing is the fact that this same USA Today poll also estimates that about 40% of leaders are introverts, but they know how to adapt well to various situations. For example, Bill Gates and Warren Buffet are both well-known successful corporate leaders, and both possess an introverted leadership style.

So, what are some qualities we typically find in introverts that help make them effective leaders? You might be surprised to learn, especially if you are introverted, you’ve still got some great talents and skills that can bolster your success as a leader.

Introverts Use Caution

Extroverted people tend to want to win and will gamble to earn a reward. This desire found in extroverts means they’ll take more risks, while introverts are pragmatic when they feel something is left up to chance. An extrovert will be far more willing to jump on an opportunity without thinking things through, whereas a person with an introverted management style will take time to reflect. Stepping away from something and thinking major moves through strategically gives introverts an advantage in the leadership category.

Introverts Like to Listen and Learn

Extroverts tend to be social and flashy when people get together and don’t always listen effectively to points and possibilities expressed by other people. In contrast, introverts prefer to listen, think about things before they speak, and then talk. Introverts don’t tend to think about what they want to say while somebody is still speaking to them, but instead like to listen and then learn how to respond.

Introverts tend to be very good listeners and do better than extroverts at considering the thoughts, suggestions, and ideas of other people. Introverts also love to learn and are usually intrinsically motivated to do well, which makes them more receptive to the thoughts and ideas of others. Being able to realize that a co-worker has an excellent idea to implement is something a person with an introvert management style will be far better at comprehending, since an introvert will listen to learn, whereas an extrovert usually has difficulty doing this.

Introverts Discover Certainty When Things Seem Uncertain

Introverts tend to be focused on intrinsic rewards and don’t rush towards external rewards the way extroverts do. So when they don’t have a lot of information about how to proceed during an uncertain time, they still tend to work well and don’t suffer from as many self-defeating impulses. Also, since introverts aren’t as distracted by external rewards, they tend to focus well and discover solutions to problems others might not see. Introverts have an advantage with focus and diligence over extroverts, which helps them find answers and solutions, discovering certainty even when things feel uncertain.

The post Why do Introverts Make Better Leaders? appeared first on Barbachano International (BIP).

source https://bipsearch.com/news/introverts-make-better-leaders/

10 Leadership Qualities that Every Top Executive Should Have

Why do Introverts Make Better Leaders?

Most of us don’t think successful leaders have an introverted leadership style, since, by all appearances, extroverted people make wonderful public speakers and engaging networkers. Being able to speak effectively in public and knowing how to network well are two very important talents most CEOs and organizational leaders need to possess if they want to thrive. Most people assume introverts aren’t able to do either one of these necessities well. After all, a USA Today poll says 65% of executives view introversion to be an impediment to productive leadership.

Perhaps even more tantalizing is the fact that this same USA Today poll also estimates that about 40% of leaders are introverts, but they know how to adapt well to various situations. For example, Bill Gates and Warren Buffet are both well-known successful corporate leaders, and both possess an introverted leadership style.

So, what are some qualities we typically find in introverts that help make them effective leaders? You might be surprised to learn, especially if you are introverted, you’ve still got some great talents and skills that can bolster your success as a leader.

Introverts Use Caution

Extroverted people tend to want to win and will gamble to earn a reward. This desire found in extroverts means they’ll take more risks, while introverts are pragmatic when they feel something is left up to chance. An extrovert will be far more willing to jump on an opportunity without thinking things through, whereas a person with an introverted management style will take time to reflect. Stepping away from something and thinking major moves through strategically gives introverts an advantage in the leadership category.

Introverts Like to Listen and Learn

Extroverts tend to be social and flashy when people get together and don’t always listen effectively to points and possibilities expressed by other people. In contrast, introverts prefer to listen, think about things before they speak, and then talk. Introverts don’t tend to think about what they want to say while somebody is still speaking to them, but instead like to listen and then learn how to respond.

Introverts tend to be very good listeners and do better than extroverts at considering the thoughts, suggestions, and ideas of other people. Introverts also love to learn and are usually intrinsically motivated to do well, which makes them more receptive to the thoughts and ideas of others. Being able to realize that a co-worker has an excellent idea to implement is something a person with an introvert management style will be far better at comprehending, since an introvert will listen to learn, whereas an extrovert usually has difficulty doing this.

Introverts Discover Certainty When Things Seem Uncertain

Introverts tend to be focused on intrinsic rewards and don’t rush towards external rewards the way extroverts do. So when they don’t have a lot of information about how to proceed during an uncertain time, they still tend to work well and don’t suffer from as many self-defeating impulses. Also, since introverts aren’t as distracted by external rewards, they tend to focus well and discover solutions to problems others might not see. Introverts have an advantage with focus and diligence over extroverts, which helps them find answers and solutions, discovering certainty even when things feel uncertain.

The post Why do Introverts Make Better Leaders? appeared first on Barbachano International (BIP).

source http://bipsearch.com/news/introverts-make-better-leaders/

The Candidate EVERY Employer Wants to Hire

How to Prepare an Expat for a Successful Assignment Abroad

As the world becomes increasingly interconnected, businesses are going global. The challenge for companies today is to ensure that employees have the ability to work on an international level. More and more, companies are relocating staff either for developmental and expansion purposes or to fill a certain skill set not present in the local employee pool. Many midsize and large companies send professionals abroad, and most of them increase the number they have on assignment.  However, according to a Jobvite survey, the greatest obstacle for 56% of recruiters is a lack of skilled or qualified candidates. Emerging markets are set to experience an influx of expatriates to fill the skill gaps in the local job markets. The only way to remain competitive in this global economy is to build a local talent pool with globally relevant skills.

Why Companies Send Employees Abroad

• Expansion into new and existing markets
• Development of top talent
• Streamline operations
• Develop new perspectives
• Become a trusted brand
• Sometimes, it’s cheaper to do business elsewhere

International assignments are expensive ventures, and they cost up to three times what the employee would earn annually at home. However, most US expats sent abroad return prematurely either due to job dissatisfaction or inability to adjust to the foreign country. In addition, those who serve their tenure do not perform as expected. It is therefore imperative that employees are prepared, trained, and managed to reap the full benefits of the investment.

Preparing Employees for International Assignments:

An international assignment usually begins long before the employee arrives at the host country:

The national flags is flying around the world

Pre-program Assessment

This is the assessment of the assignee’s family, culture, and understanding of the host cultures.  The expat’s goals and concerns shape the family training session. Cultural intelligence tools such as Culture Wise can be used to assess their cultural tendencies against those of the host country. Exploration of information derived from such tools provides trainees with questions for the training session.

Training Employees for International Assignments

This increases the assignee’s knowledge of the host country. It includes aspects of culture, societal values, business culture, and everyday living. This training reduces the risk of cultural misunderstandings and promotes cross cultural experience.

Host Manager and local Team Briefing

This is usually done face to face; however, if this is not possible it can be done online. The country host manager and the team with whom the international assignee will be working provide insight into the cultural values and norms. Aspects such as differences in management style and communication style are discussed.

Project Alignment Meeting

A project alignment meeting is held between the expat and host manager after parties have exchanged critical information. This is to discuss factors that may affect the success of the assignment, how to mitigate misunderstandings and mutual expectations of the assignee and manager. This includes aspects such as timelines, reporting strategies, and setting goals.

On Assignment Mentoring

The expat is exposed to new situations and experiences as soon as they arrive in the country. An assignee should be closely monitored and receive face-to-face coaching. Interactions between the expat and team members are observed. This coaching depends on the duration of the assignment and the assignee’s needs.

Knowledge Management

Systematic capture and dissemination of relevant documentation should be conducted. Lessons learned from the expat’s assignment are not only valuable to the expat but also to future expatriates and the organization as a whole. This helps the organization avoid repeating mistakes and over time to develop best practices.

How to Manage Expatriates:

Many organizations don’t know how to optimize the benefits of an expat assignment. Relocation packages which include cultural training are great. However, most companies don’t have the talent management mechanisms to truly leverage on these assignments. The following are critical to managing these assignments effectively:

Strong need and the right person: Before an organization makes the decision to send an employee abroad, there should be an indisputable need for the position that can’t be fulfilled by a local hire and the right fit should be identified.

Assign top notch mentors: While communication is important, it’s not enough for a successful assignment. To prevent the expat from feeling adrift, mentors should be appointed to oversee the expat.

Constant Contact: The assignee should regularly update the host, home sponsors, and other relevant stakeholders on the progress as well as new knowledge acquired.

Reintegration Plan: The employee should outline skills, qualifications, and insights achieved during the assignment and come up with a plan for incorporating them in the home office or the next assignment.

Should you need additional guidance on hiring and recruiting leaders in the Americas (Mexico, Latin America, Canada or the USA), please visit us at: http://www.bipsearch.com, or email us at: barbachano@bipsearch.com.

importance of expatriate training

Written by:

Barbachano International Staff

 

The post How to Prepare an Expat for a Successful Assignment Abroad appeared first on Barbachano International (BIP).

source http://bipsearch.com/news/prepare-expat-successful-assignment-abroad/