This Week's Herman Trend Alert Women---Expanding their Sphere of Influence

The Herman Trend Alert December 31, 2008 Navigating the Next Year A recent study by the well-respected organization The Corporate Executive Board offers some sage advice for corporate leaders about how to successfully navigate the next year. Speaking on MSNBC, Tom Monahan, Chairman and CEO of this unique peer-to-peer network, shared the results of their recent research. When asked which issues would be most challenging in 2009, 30 percent of the corporate leaders who responded answered "protecting growth initiatives", 24 percent said "making critical talent plays", 21 percent answered "exploiting risk opportunities", and 17 percent replied "improving cost discipline". Overall, the suggested strategies highlight the need for leaders to change in five key areas. First, the report directs executives to "focus on product and services [expenditures] in their cost-cutting process, not just overhead cost, because that is where long-term competitive advantage lies". Second, leaders must be vigilant to "protect growth initiatives ". This strategy involves identifying and sheltering growth opportunities in the capital budget. In addition, the report suggests they integrate concrete innovation targets into performance expectations and reporting, even while belt-tightening". Third, leverage financial strengths. Foster innovations that target the shifting financial strengths of customers and suppliers. Fourth, "exploit risk opportunities: embrace, don’t eradicate, "the right" risk exposures". Finally, and in our view most importantly, now is the time to "make critical talent plays", "to court and cultivate tomorrow’s winners". Take the opportunity to close critical skill gaps with less-occupied talent. Reward outstanding performance. "Use the economic crisis to sharpen the acumen of future executives." "Embrace offshore centers as a source for critical skills and next-generation executive leadership, not just low-cost execution." The study also found that one in four top, high-performing employees expects to leave in next 12 months, up from one in 10 last year. Wise employers will use this downtime to re-engage employees with "stay interviews", re-orientation, and special projects. This re-engagement will also reduce the five percent productivity loss that translates into about $100 Million in lost operating cash flow for the average company. Monahan closed his interview with an astute observation: "Companies playing offense on talent have a remarkable opportunity right now." © Copyright 1998- by The Herman Group, Inc. -- reproduction for publication is encouraged, with the following attribution: From "The Herman Trend Alert," by Roger Herman and Joyce Gioia, Strategic Business Futurists. (800) 227-3566 or http://www.hermangroup.com. The Herman Trend Alert is a trademark of The Herman Group, Inc." EMPLOYERS AND JOBSEEKERS: MARK YOUR CALENDARS Advertise at or attend VetJobs Virtual Career Fairs. VetJobs, the top veterans' job board, and PSI, the premier diversity job fair producer, are teaming up to launch these VeteransCONNECT events. Employer registration is now open with loading by February 15th. Candidate loading begins March 1st. Expect 25-30 employers and an attendee goal of 2,000 skilled jobseekers. Promoted extensively, early registration begins NOW. To register or request additional information, contact VetJobs at 877-838-5627 or email info@vetjobs.com; Employers: Mention the Herman Trend Alert to receive a Bonus. LOOKING FOR A UNIQUE VALENTINE’S GIFT? Give the gift of leadership advice in our weekly Lessons in Leadership to help your supervisors and managers remind your leaders about what’s really important The 52-week subscription is only $47, a bargain when you think about the savings to your organization in reduced turnover. Quantity discounts available by emailing Joyce at joyce@hermangroup.com. http://www.hermangroup.com/store/subscription_all.html#3 Order today! PREVENT EMPLOYEE TURNOVER IN 2012 Yes, you can prevent costly employee turnover, when you train your supervisors, managers, and executives. They will learn dozens of low and no-cost strategies and tactics that they can implement right away. We have an impressive track record and stand ready to help you. Call Carl at 336-210-3547 for a no-obligation conference call. Herman Trend Alerts are produced by the Herman Group, strategic business futurists, Certified Management Consultants, authors, and professional speakers. New subscribers are welcome. There is no charge for this public service. The Herman Trend Alert is received by over 30,000 subscribers in 78 countries, in addition to other websites and printed magazines. Do you enjoy receiving this weekly e-mail update? Contact us about our co-branded Trend Alert service. Click here to sign up for the Herman Trend Alert. Subscribe or Unsubscribe to weekly Herman Trend Alert View this week's Herman Trend Alert Archived Weekly Herman Trend Alerts

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