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THE TALENT SHORTAGE 2: TWO MORE SOLUTIONS THAT DO NOT BURN MONEY

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Companies are likely wasting their money by offering raises/bonuses/higher starting salaries to existing and potential employees in hopes of stopping exits during The Great Resignation and securing talent in the worst U.S. labor shortage since World War II. It’s having the same effect as if they are burning that money because unless the underlying disconnects are addressed, nothing is likely to change this situation for knowledge-intensive industries ...

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THE TALENT SHORTAGE 1: TWO SOLUTIONS THAT DO NOT BURN MONEY

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Companies are likely wasting their money by offering raises/bonuses/higher starting salaries to existing and potential employees in hopes of stopping exits during The Great Resignation and securing talent in the worst U.S. labor shortage since World War II. It’s having the same effect as if they are burning that money because unless the underlying disconnects are addressed, nothing is likely to change this situation for knowledge-intensive industries ...

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SUCCESSFUL AND EFFECTIVE LEADERSHIP

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“You don’t exist if no one can see you.” Fred Luthans’s research shows that this quote applies to corporate leaders, since:

  • Managers who get promoted most quickly in an organization are NOT the managers who do the best job.

  • The big difference between Successful Managers (those who get promoted fast) and Effective Managers (those with the highest quantity / quality work AND highest employee satisfaction / commitment ratings) is that:

    ► Successful Managers spend 48% of their time networking, i.e., “socializing, politicking, interacting with outsiders.” Effective Managers spend 11% of their time networking.
    ► Getting promoted quickly in a company results from time spent with bosses / outside influencers.

    ► Effective Managers spend 44% of their time communicating, i.e., “explaining their decisions and seeking information from colleagues / employees.” Successful Managers spend 28% of their time communicating.
    ► Delivering the highest corporate productivity / lowest turnover results in fewer, slower promotions.

Hmmm, it looks like both Successful Managers and Effective Managers also lose big time with above because: ...

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2022 BOARD RECRUITMENT CHANGING LANDSCAPE

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“Thank you, The HQ Companies, for leading the (Board Audit Chair) search and helping us find Tasha (Henderson),”—these words, from the press release issued by fast-growing private company Hearken, Inc’s CEO and Co-Founder Jennifer Brandel, greeted The HQs staff upon their return this week from holidays—what a nice start to the New Year!

This late 2021 board search is a great example of the changing private and public board recruitment landscape as it highlights what The HQs saw emerging in 2021 and expect to see escalating in 2022, namely:
►GLOBAL EXPERIENCE is the #1 sought after quality in potential board directors. Hearken as an example...

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HERE'S TO GOALS!

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A New Year’s Resolution is really just a goal that some person or group leader would like to achieve in the New Year. A resolution implies an object/situation that’s desired but not yet attained…so why all the fuss about having failed to do something that’s not been done before and the effort to achieve the goal has been in existence for only how many days or weeks now?

Rather than focusing on the destination goal, Stanford University’s Dr. Jennifer Aaker suggests adopting a “journey mindset” to move forward while enjoying the path/experiences along the way. She recommends viewing a goal as a North Star that anchors one in the right direction because her research has proven that such an approach actually propels the continuation of the goal-aligned behaviors after the goal is reached and creates further success in achievement of next goals …because next year—and next month—there will be yet another goal, another New Year’s Resolution wanting completion.

Tools, such as Dr. Aaker’s “journey mindset,” are needed because, unfortunately, embracing a specific goal can create other conduct that negatively impacts reaching the desired goal. For instance...

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THE BEST ARTICLES OF 2021

Corporate — Career — Board

The Best 2021 BOARD Article

BOARD UPDATES: NATIONAL, REGIONAL, & LOCAL

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Talk is cheap, but results that achieve desired goals are priceless. Below are some corporate board updates that are all about results that are achieving desired goals of more corporate profitability and fewer corporate losses from groupthink risk-taking.

NATIONAL. Thirty Percent Coalition, a $7 trillion AUM coalition of corporations, investors, and advocacy groups for U.S. Board Diversity, recently announced that: 1. Over 500 companies engaged by the Thirty Percent Coalition since 2012 have named a woman to their boards. 2. The Thirty Percent Coalition’s 2021 “Adopt a Company” Campaign has resulted in 127 companies appointing a woman to their board, with 65 of those companies with all-male boards appointing a woman, most for the first time and 62 of those companies appointing a second woman. 3. The Thirty Percent Coalition’s focus on both gender AND racial diversity has resulted in the September 2021 webcast featuring Thirty Percent Coalition member, The Board Challenge, discussing action steps that will increase racial diversity in corporate boards, specifically—it’s a “must watch” on how to improve Black directors’ representation in the boardroom.  Note that The HQ Companies, Inc. is honored to be a Thirty Percent Coalition corporate member.

REGIONAL. The North Carolina Association of Certified Public Accountants (NCACPA), in its 100th year of existence, has 4 strategic focus areas for its 13,000 members ...

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The Best 2021 CAREER Article
The HQ Companies

HOW OLD ARE YOU?

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HOW OLD ARE YOU? Before you answer that question, do you know that you actually are 10 different ages, only one of which is your chronological age? According to Boston College’s Sloan Center on Aging at Work, you also have a:

  • PHYSICAL-COGNITIVE AGE: Like babies are supposed to start talking and walking at a year old and older people are supposed to lose their ability to concentrate and retain information. The facts are that many babies start speaking before or after a year old…and many adult cognitive and physical skills don’t even peak until a person reaches their 60s or 70s.
  • SOCIOEMOTIONAL AGE:st> Human lives unfold in stages—newlyweds, college grad, empty nester, etc. Some adults shift from “time lived” to “time left,” which gives more meaning and purpose to every action they undertake, steering them to seek challenging work that gives them a personal sense of accomplishment.
  • SOCIAL AGE: ...

Read about all 10 different ages in the full article.


The Best 2021 CORPORATE Article
The HQ Companies

BURNOUT—IS IT TIME FOR KITTENS?

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Burnout—we know it when we feel it, but do we really know if it’s burnout, depression, an underlying health condition, or is it that we’re just plain tired?

It’s been 40 years since Freudenberger coined that concept—burnout—and yet there’s still no agreement as to how to distinguish burnout from other disorders and no agreed upon definition, diagnosis, or rates of prevalence. In fact, a literature review concluded that there has been 40 years of discussion and yet this “concept remains vague and blurry.” Maybe it’s time to give up on defining burnout and move forward to figuring out how we can use what we know to avoid, minimize, and treat burnout.

Here are the areas experts agree upon regarding burnout...

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THE BEST ARTICLES OF 2020

Corporate — Career — Board


The Best 2020 CAREER Article

WHAT'S NEW IN THE NEWEST NORMAL?

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There are three new market factors that were NOT present in 2019 that can have an impact, positive or negative, on your career.

The first MARKET FACTOR is the pandemic. ...
The second MARKET FACTOR is that many companies have most of their workforce WORKING FROM HOME. ...
The third MARKET FACTOR is that THE BUSINESS ROUNDTABLE announced in December that the sole purpose of a company was no longer just serving its shareholders (see my 12/8/19 article). ...

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The Best 2020 CORPORATE Article

2020+ ECONOMIC EMPLOYMENT FORECAST:
UP NEXT: A BIGGER GDP PIE

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A global pandemic, world-wide recession, high U.S. wage inequality and social unrest, large-scale corporate and country debt…and yet my 17th economic employment forecast for the next 12-24 months is:
1. U.S. and global employment nature will permanently change with AI and DIGITAL assuming a larger and growing share of all previous labor activities of a LOW TOUCH, LOW THOUGHT nature (yes, my 2017-2019 Forecast that AI and computers would be replacing labor/people in certain work was correct).
2. Corporations, private/public, will integrate ESG (Environment, Social, Governance) stakeholders.
3. AI’s and DIGITAL transformation’s impact and corporations’ acceptance of employees as stakeholders will shift employees’ focus towards personally MEANINGFUL work with “meaningful work” defined as activities/tasks/physical or mental exertion for a corporate purpose that the person is naturally best at performing and enjoys doing those activities/tasks/exertions.
4. The U.S. GDP pie grows larger as labor shifts to meaningful work as artificial barriers lessen for positions—from entry to corporate C-suite to corporate boards—due to corporate acceptance of EESG.

Given that the U.S. and China account for nearly 40% of global GDP, nearly 25% of global trade, and even larger shares of capital goods AND the U.S., European Union, and China are the world’s largest economies, A GROWING U.S. GDP should encourage a GROWING GLOBAL GDP.


These 4 incredibly unbelievable outcomes will occur because of…a global pandemic, world-wide recession, high U.S. wage inequality and social unrest, large-scale corporate and country debt—the “here’s why” White Paper (all of 2 pages long!) is available as a PDF With Sources OR as the PDF White Paper Only.

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The Best 2020 BOARD Article

2020 EARNINGS SEASONS: A BOARD LEADERSHIP OPPORTUNITY

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SEC Financial Expert and Associated Banc-Corp, AIG Funds, Legg Mason Closed End Funds, and Hochschild Mining plc Board Director Eileen Kamerick, Deloitte Vice Chairman and National Managing Partner, Center for Board Effectiveness Deb DeHaas, and Legal Corporate Governance Expert and The University of Chicago’s Michael J. Marks Professor of Law Todd Henderson offer their most important recommendations to boards for this year’s earnings seasons.

1. Kamerick regarding FINANCIAL REPORTING:

“This year is anything but a routine time in terms of financial reporting. Management teams and audit committees are in the uncomfortable position of being exhorted by the SEC to provide as much detail as possible regarding future operating conditions and resource requirements, yet it’s at a time when there are almost infinite numbers of variables and virtually nothing is certain.....

2. Henderson regarding LEGAL:

“Remember that the intent of securities laws is to have large public companies release the information that they would naturally disclose if they were a small private company.

Consider if there were only 10 owners in your company and a catastrophe strikes. You would tell them.....

3. DeHass regarding ACCOUNTING/GOVERNANCE:

Agility & Flexibility: Board and management are engaging more to meet fast-paced changing issues. Being thoughtful about processes and how best to work together can result in: 1) more informal interactions; 2) a review of what information is most important and when appropriate; and 3) a fuller utilization of Board/committee members’ unique skills/experiences, including their capabilities to be sounding boards for key management.....

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THE BEST ARTICLES OF 2019

Corporate — Career — Board

The Best 2019 CORPORATE Article

FOR BEST "STATEMENT ON THE PURPOSE OF A CORPORATION" RESULTS

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In addition to the UN-backed PRI, the SSEI, and other groups, proxy advisor firms are assessing/assigning ESG and HCM levels to U.S. public corporations in response to The Business Roundtable recently issuing a “Statement on the Purpose of a Corporation, which supersedes previous Business Roundtable statements and more accurately reflects our commitment to a free market economy that serves all Americans."

The Business Roundtable, a nonprofit association founded in 1972 for CEOs of major U.S. companies, has periodically issued Principles of Corporate Governance that since 1997 have stated corporations exist principally to serve their shareholders.

“The new statement is a significant departure from the past in that it includes serving all ‘stakeholders,’ including customers, employees, suppliers, communities, the environment, and shareholders. The prior statement [for the last 22 years] only included shareholders,” states Don Delves and Ryan Resch in a Willis Towers Watson article...
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The Best 2019 BOARD Article

BOARD DIRECTOR: YOUR PATHWAY TO A CEO JOB

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By Kathy Graham, The HQ Companies, Inc. Founder & 2020 Women on Boards Chicago Chair

Fewer than 5% of public company CEOs being women is NOT something to celebrate, but this “decades-old problem of stagnant growth [in the number of women CEOs] may soon be turning around.”

In fact, all the work that many organizations, including 2020 Women on Boards, have been doing to break the long-standing 12-14% women on corporate boards is finally paying off because research is showing that women who are being chosen now as public company CEOs have two factors in common, namely, these women:
• Follow the traditional CEO pathway that men do in that they are COO or President of a company previously.
• Served or are serving on a public or private company board.

Women represented a record-breaking 40% of the incoming class of board directors in 2018....
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The Best 2019 CAREER Article

TOP DOWN, BOTTOM UP & TWIST SIDEWAYS COMMUNICATION

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The CFO role is being highly impacted and transmuted by digital disruptors that are using a different organizational communication structure to support their digital finance transformation successes...and this structure is far from what is common in more traditional firms.

One of the main facets leading to digital finance transformation success is changing the flow of organizational communication—and this statement is straight from Facebook’s CHRO at AICPA’s June 2019 National Conference. He said that the typical communication pattern in organizations is TOP-DOWN: the boss at the top issues directions to those below. However, in successful digital finance transformations that communication pattern needs to be TOP-DOWN AND BOTTOM-UP, all the way to the employee working directly with the consumer/client/purchaser of a company’s products or services.

If you want to “Amazon” your digital finance transformation, which means that as a consumer purchasing your product/service clicks online—or as the consumer lifts your company’s product off a shelf in a brick-and-mortar location—that purchase is automatically billed to their credit card, the sale immediately flows through and is recorded by all of the company’s departments involved in the transaction, inventory is instantaneously updated and orders to suppliers—with costs simultaneously recorded—are placed as necessary at that very moment, then there is one more change needed to an organization’s overall communication structure:

• Communication flows from TOP-DOWN and BOTTOM-UP, but the flow itself needs to “twist” from a VERTICAL TOP-DOWN/BOTTOM-UP FLOW to a HORIZONTAL TOP-DOWN/BOTTOM-UP continuing conversation...
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THE ALL-TIME BEST CLASSIC ARTICLES

Corporate — Career — Board


AN ALL-TIME CLASSIC ARTICLE

BEST PERFORMANCE TIPS
HOW THE 1908 YERKES-DODSON LAW CAN HELP YOU TODAY

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The 111-year old Yerkes-Dodson Law is NOT a law, it’s not even statistically significant, and yet it’s really quite useful for making what you want to happen actually occur.

The Yerkes-Dodson Law is a variation on Goldilocks and The Three Bears:
  • If you have “too little” arousal/stress/engagement, you will under-perform.
  • If you have “too much” arousal/stress/engagement, you will under-perform.
  • If you have the “just right” level of arousal/stress/engagement, you will reach your best/optimal performance in whatever you are trying to achieve.

The problem with the Yerkes-Dodson Law is that “just right” varies from situation to situation, stimuli to stimuli, and individual to individual...so how do you figure out what the “just right” is for yourself in whatever you’re trying to achieve?...
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AN ALL-TIME CLASSIC ARTICLE

TOPSY TURVY TURNOVER

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If turnover is so bad, why are so many companies doing it?

Even at the top of corporations, turnover is high:
• CEO turnover globally was the highest in 15 years in 2015. For the U.S., it was the second highest in 15 years.
• CFO turnover is near or at an all-time high in the consumer/food, financial, and healthcare/life science sectors while the longest tenured CFOs (retail industry) are only averaging 6.3 years on the job, according to numerous reports. Ditto for GCs, Chief Information Officers, and Chief Human Resources Officers overall.
• CMO’s have a job turnover rate of 25% per year—that’s a horrific rate that means a company’s CMO must be actively looking for their next job all the time because their positions on average don’t last more than a year or two...

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