Listen to Wayne Hurlbert
Consultant, and principal and founder of Quantum Media Associates, and co-author of the insightful and eye opening book The Curse of the Mogul: What's Wrong with the World's Leading Media Companies, Ava Seave, describes how the biggest media companies in America failing their customers and their shareholders through self-deception and grandiose self importance. She describes how the media companies are failing as businesses through misguided business goals and through belief in many myths including their content being king. She shares how the media can overcome these challenges, even in an internet world, and become successful and responsive companies.
Ava Seave is my internet radio show guest on Blog Business Success; hosted live on BlogTalkRadio.
The show airs live on Thursday, July 1, at 8:00 pm Eastern Time; 5:00 pm Pacific Time.
Consultant, and principal and founder of Quantum Media Associates, and co-author of the insightful and eye opening book The Curse of the Mogul: What's Wrong with the World's Leading Media Companies, Ava Seave, describes how the biggest media companies in America failing their customers and their shareholders through self-deception and grandiose self importance. You will learn:
* Who are the media moguls and why they are cursed
* How media companies are failing their shareholders and customers
* How to spot the myths used by the media moguls to defend their actions
* What the media moguls must do to become more profitable companies
Ava Seave (photo left) is a Principal of Quantum Media Associates, a leading New York City based consulting firm focused on marketing and strategic planning for media and entertainment companies. As a Quantum Media principal, she has led numerous consulting engagements and has provided senior-level management consulting services to many companies in a broad range of assignments.
Before founding Quantum Media Associates with four others in 1998, she was a general manager at three leading media companies: Scholastic Inc., where she directed the Trumpet Club and Scholastic Specials business units, at The Village Voice where she was responsible for all non-advertising revenue and administrative management including circulation, shipping and distribution, list sales, print and on-line syndication and consumer advertising and public relations and at TVSM, the country's largest cable listings magazine.
Ava started her career at Dell Publishing (a division of Doubleday) and as an editor at two horticulture magazines. Professor Seave's teaching experience beyond CBS includes stints at the New York University School of Professional and Continuing Education in the Masters of Publishing and E-management programs. She has been a lecturer at numerous Folio Conferences, FMA conferences and for the Magazine Publishers' Association Executive Education programs.
Professor Seave is on the Board of Davler Media. She is also on the non-profit boards of the Pembroke Center at Brown University and the Archaeology Institute of America, serving as head of the Archaeology Magazine committee.
My book review of The Curse of the Mogul: What's Wrong with the World's Leading Media Companies by Jonathan A. Knee, Bruce C. Greenwald, and Ava Seave.
Listen live on Thursday at 8:00 pm Eastern, 5:00 pm Pacific time.
If you miss this very informative show, it will be available for free download as a podcast for iPod, iTunes, and MP3 players; or play it right on your computer. To download this, or any other of my guest interviews, go to the Blog Business Success host page and click on Archived Segments. Once there, click on the podcast icon at the end of the episode description, to download the show free of charge for your listening enjoyment. You can also subscribe to the show feed.
To call in questions for my guest, the number is: (347) 996-5832
Let's talk with consultant, and principal and founder of Quantum Media Associates, and co-author of the insightful and eye opening book The Curse of the Mogul: What's Wrong with the World's Leading Media Companies, Ava Seave, as she describes how the biggest media companies in America failing their customers and their shareholders through self-deception and grandiose self importance. She describes how the media companies are failing as businesses through misguided business goals and through belief in many myths including their content being king. She shares how the media can overcome these challenges, even in an internet world, and become successful and responsive companies on Blog Business Success Radio.
Ava Seave: The Curse Of The Mogul - Blog Business Success Radio
The secret to getting results when networking for business
I interviewed Chartered Accountant, Douglas Shanks, last week about generating results from business networking. When talking about referrals Douglas said "The secret to getting referrals is giving referrals so focus on what you can give".
That simple sentence contains the essence of a successful approach to building your network. Obviously you will want to benefit from the relationships you build with others and you want them to advocate and refer you when they can. This short podcast explains the importance of advocating others in your network first.
Listen here:
Good Networking!
Dave Clarke
Melinda Emerson: Become Your Own Boss In 12 Months - Blog Business Success Radio
Listen to Wayne Hurlbert
Entrepreneur, professional speaker, social media strategist, small business coach, and author of the very practical and results oriented book Become Your Own Boss in 12 Months: A Month-by-Month Guide to a Business that Works, Melinda F. Emerson, shares her 12 month step by step plan for making a successful transition from employee to entrepreneur. She describes the critical importance of planning not only the business but also one's personal goals. Melinda provides a series of activities, to be completed each month, prior to opening and operating the new start-up business. She also presents some practical tips for establishing a successful business and for maintaining it over the long term. Learn as well how to think like an entrepreneur instead of an employee.
Melinda F. Emerson is my internet radio show guest on Blog Business Success; hosted live on BlogTalkRadio.
The show airs live on Tuesday, June 29, at 8:00 pm Eastern Time; 5:00 pm Pacific Time.
Entrepreneur, professional speaker, social media strategist, small business coach, and author of the very practical and results oriented book Become Your Own Boss in 12 Months: A Month-by-Month Guide to a Business that Works, Melinda F. Emerson, shares her 12 month step by step plan for making a successful transition from employee to entrepreneur. You will learn:
* How to think like an entrepreneur rather than an employee
* Why a 12 month preparation process will create a more successful business
* Why personal and business planning are critical for success
* How to bridge the business knowledge gap that derails many new entrepreneurs
Melinda Emerson (photo left) is known as “SmallBizLady,” and is one of America’s leading small business experts. She is a seasoned entrepreneur, professional speaker, social media strategist and small business coach.
Melinda has lectured on small business at The Wharton School of Business at the University of Pennsylvania, Temple University and Rosemont College and for clients including: IKEA, Verizon, GlaxoSmithKline, National Association of Women Business Owners, PA Governor’s Conference for Women, International Association of Business Communicators, the Small Business Administration, and the Center for Women’s Business Research. Her areas of expertise include small business start-up, recession-proof marketing and social media strategy.
Melinda Emerson began her professional career in television as a producer. Within five years, inspired by Oprah Winfrey’s HARPO Productions, Inc., she left television to pursue her entrepreneurial dream to create an award-winning production company. Melinda is a dedicated wife, mother and woman business owner who believes that faith is one of the most important ingredients in a successful business.
Melinda hosts #Smallbizchat a weekly talk show on Twitter. #Smallbizchat is the trusted resource on Twitter to discuss everything entrepreneurs need to know about launching and running a profitable small business.
Melinda Emerson has developed a small business TV news segment and published several articles and special reports including 44 Things To Do Before You Go Into Business. She has also recorded an audio CD, 10 Things You Must Never Forget in Business. Melinda Emerson’s first book Become Your Own Boss in 12 Months: A Month-by-Month Guide to a Business that Works was published March 9, 2010 from Adams Media.
Melinda has been featured on NBC Nightly News and in the Wall Street Journal, U.S. News and World Report and Black Enterprise. She is a graduate of Virginia Tech.
Melinda Emerson has also won numerous awards including Top 50 Women in Business in Pennsylvania, Top 30 Leaders of the future by Ebony Magazine, and the National Association of Women Business Owners’ Woman of Distinction Award.
My book review of Become Your Own Boss in 12 Months: A Month-by-Month Guide to a Business that Works by Melinda Emerson.
Listen live on Tuesday at 8:00 pm Eastern, 5:00 pm Pacific time.
If you miss this very informative show, it will be available for free download as a podcast for iPod, iTunes, and MP3 players; or play it right on your computer. To download this, or any other of my guest interviews, go to the Blog Business Success host page and click on Archived Segments. Once there, click on the podcast icon at the end of the episode description, to download the show free of charge for your listening enjoyment. You can also subscribe to the show feed.
To call in questions for my guest, the number is: (347) 996-5832
Let's talk with entrepreneur, professional speaker, social media strategist, small business coach, and author of the very practical and results oriented book Become Your Own Boss in 12 Months: A Month-by-Month Guide to a Business that Works, Melinda F. Emerson, as she shares her 12 month step by step plan for making a successful transition from employee to entrepreneur. She describes the critical importance of planning not only the business but also one's personal goals. Melinda provides a series of activities, to be completed each month, prior to opening and operating the new start-up business. She also presents some practical tips for establishing a successful business and for maintaining it over the long term. Learn as well how to think like an entrepreneur instead of an employee on Blog Business Success Radio.
Jonathan Bernstein: Keeping the Wolves at Bay: Media Training - Author interview
President of Bernstein Crisis Management, Inc., and media relations expert Jonathan Bernstein, was kind enough to answer a few questions about his very practical and eye opening book Keeping the Wolves at Bay: Media Training.
Jonathan Bernstein describes how media training will help develop key messages, to improve the chance for balanced coverage, enhancing transferable media relations skills, and assisting in identifying effective media spokespeople.
Thanks to Jonathan Bernstein for his time and for his interesting and informative responses.
What was the background to writing this book Keeping the Wolves at Bay: Media Training?
Jonathan Bernstein: Most media trainers I know – self included, in the past – seem to use a collection of materials from multiple sources as handouts for their training sessions. I thought it might be very useful to have that type of information all in one place, in manual format, and discovered to my pleasant surprise that no one else had done that before.
In general, why do business executives need media training?
Jonathan Bernstein: Because nothing you learn in business school or any other professional training prepares you to deal with the media except in the most plain vanilla circumstances, like a trade press interview.
During a crisis, why is being well trained in media relations so critical for executives?
Jonathan Bernstein: It takes years to build a reputation and only seconds to lose one – the seconds during which an executive inserts his foot in his mouth during a media interview.
There are many types of media and many different definitions. How do you define media, and are the rules the same for alternative internet based media, including blogs and podcasts?
Jonathan Bernstein: That’s a very perceptive question. I define media as all channels employed to get your messages to your stakeholders, internal or external. Thanks to the Internet, the number of potential channels has grown exponentially.
The basic precepts of effective crisis communications are the same for all media, but the logistical and informational needs and motivations of alternative media can vary dramatically. And, there are no editorial controls or ethical standards established (yet) for alternative media, not that traditional media scores very high on the ethical scale anymore.
Jonathan Bernstein (photo left)
What are some of the major concerns and frustrations that executives have with journalists and the media?
Jonathan Bernstein: Some are accurate, some are delusional. The major concerns expressed to me by executives are editorial bias and inaccurate reporting. The former is definitely true, but if you understand that bias you can still make the most of the interview. Inaccurate reporting is sometimes the journalist’s fault, but it’s also sometimes the fault of an untrained interview subject, who can’t communicate clearly.
How can business leaders prepare more effectively for a media interview?
Jonathan Bernstein: Get trained, then practice what you’ve learned. Without practice (which could include actual interviews), interview skills erode rapidly. Oh, and buying my book wouldn’t hurt
Your book describes what you call the Three C's of Crisis Communication. What are they and why are they so important?
Jonathan Bernstein: I say that effective crisis communicators need to come across as Confident, Competent and Compassionate.
Think "Rudy Giuliani" on and after 9-11. It was his attitude, his non-verbal cues, which gave his audiences comfort. If he had delivered the same messages in a stereotypical governmental manner, the amount of fear and anxiety felt by listeners would have been dramatically higher. Instead, what they clearly felt, for the most part, was "However horrible this situation is, Mayor Giuliani is going to get us through it, he's doing the right thing, in the right way." He actually delivered little substance, initially, because so little was known. But he won over his audience (not to mention laying the groundwork for his future ventures).
If stakeholders perceive you as Confident, Competent and Compassionate, they are far more likely to believe your messages. In fact, if you're really good at projecting the "Three C's," you can get away with some messaging errors and still win over your audience.
Are there some effective tactics that business leaders should understand and utilize when speaking with members of the media?
Jonathan Bernstein: There are many tactics, but chief of them is being able to ingrain in oneself the concept that your job in a media interview has little to do with answering the reporter’s questions and everything to do with communicating your key messages. It’s completely counterintuitive to the way we usually talk to others.
Should a business leader be honest and avoid lying or sidestepping questions, and what are the consequences of being caught in a lie or misrepresentation?
Jonathan Bernstein: There are four ways to be dishonest – by commission, omission, exaggeration or understatement. If you try to obfuscate the truth in any way, that’s a lie in the mind of your stakeholders, and lying damages reputation far more than the humble truth.
Are there a few tips that are useful for all interview situations that are especially important in times of crisis?
Jonathan Bernstein:
1. Know your key messages and how to communicate them succinctly.
2. Understand and epitomize the “Three C’s” as mentioned above.
3. Assume that anything you say or do while in the presence of a reporter is “on the record,” even if a camera or digital recorder is allegedly off.
Can every business person be trained to work better with media representatives, even if the meeting is less than friendly?
Jonathan Bernstein: Almost all business people’s media skills can be improved from whatever level they start at. However, some are better at certain types of interviews (e.g., print, broadcast, radio) than others. And some are truly untrainable.
Does continual media relations practice make for better interviews and communications?
Jonathan Bernstein: Yes, and the opposite is true; lack of practice makes for poorer and poor interview results.
What is next for Jonathan Bernstein?
Jonathan Bernstein: Well, I never stop being busy at my “day job” of providing crisis management planning, training and response services to a wide array of clients. In the publishing arena, my next book will be specifically about Crisis Prevention. Look for that sometime in 2011.
********************
My book review of Keeping The Wolves At Bay: Media Training by Jonathan Bernstein.
About Keeping the Wolves at Bay: Media Training
Anyone who has achieved some degree of success in business, government work, helping run a non-profit organization, or any other field may be interviewed by the news media. This is a rich opportunity to gain positive publicity, but you can also find yourself in a position where you look bad. Jonathan L. Bernstein, president of Bernstein Crisis Management, Inc., has varied professional experiences, including public relations, crisis management, journalism, and covert military intelligence operations. Bernstein is a regular guest commentator and expert source for national media outlets and PR Week described him as one of 22 individuals nationwide "who should be on the speed dial in a crisis." For more details visit
Jonathan Bernstein (photo left)
About Jonathan Bernstein
Jonathan Bernstein is author of Keeping the Wolves at Bay: Media Training. He is a former journalist and a veteran of five years in U.S. Army Military Intelligence covert operations. He is also publisher and editor of Crisis Manager, a first-of-its-kind email newsletter written for “those who are crisis managers whether they want to be or not,” currently read in 75 countries. Bernstein is a regular guest commentator and expert source for national media outlets and PR Week described him as one of 22 individuals nationwide “who should be on the speed dial in a crisis.”
We invite you to join us for the Keeping the Wolves at Bay: Media Training virtual tour. The schedule and more details can be found at bookpromotionservices.com. For more information and to get your copy, visit thecrisismanager.com or Amazon.com
Keeping the Wolves at Bay: Media Training by Jonathan Bernstein - Book review
Keeping the Wolves at Bay: Media Training
By: Jonathan Bernstein
Published: March 17, 2007
Format: Paperback, 90 pages
ISBN-10: 1450582206
ISBN-13: 978-1450582209
Publisher: CreateSpace
"Even if you have given many 'good news' interviews in the past, you're almost certain to say or do things you'll regret if you have not been media trained when in a 'high pressure' media interview situation", writes President of Bernstein Crisis Management, Inc., Jonathan Bernstein, in his practical and eye opening book Keeping the Wolves at Bay: Media Training. The author describes how media training will help develop key messages, to improve the chance for balanced coverage, enhancing transferable media relations skills, and assisting in identifying effective media spokespeople.
Jonathan Bernstein recognizes that media training is not a guarantee of favorable media coverage, or that the book is even of an effective substitute for full scale media training. What the book does accomplish very well is establishing the critical importance of understanding the media and the importance of presenting a strong and honest message to journalists. Along with media training not being a magic formula, Jonathan Bernstein emphasizes that media spokespeople must practice their media skills intensively, to ensure their optimal effectiveness. Whether the media is the traditional mainstream or the alternative media of blogs, social media, and podcast, a business person must have training and continual practice in responding to journalists' questions.
Jonathan Bernstein (photo left) points out that training and practice not only includes the wording of the statements, but also the non-verbal signals of voice tone and body language.The author devotes the majority of the book to providing practical media training advice, including the all important areas of honesty and ethics. Because the book focuses on media relations effectiveness during a crisis, when the chances of escalating the problem or creating an even larger problem, Jonathan Bernstein shares his three C's of crisis communication:
* Compassionate
* Competent
* Confident
For me, the power of the book is how Jonathan Bernstein demonstrates the crucial importance of media training for the representatives of any organization. In a crisis situation, where tempers are short and events may be changing by the moment, having well trained spokespeople, who show a compassionate, competent, and confident attitude are more likely to be believed and trusted. In the area of media training, the author describes how journalists work, to show organizational spokespeople the view from the other side of the microphone. At the same time, Jonathan Bernstein teaches business people the techniques that can optimize their media interviews most effectively. The author also cautions spokespeople that there are differences between media, between different reporters, and the critical importance of being truthful and ethical at all times.
I highly recommend the very useful guide Keeping the Wolves at Bay: Media Training by Jonathan Bernstein, to anyone seeking a deeper understanding of the importance of media training, and looking for sound, real world advice for effective media interviews on behalf of an organization during a crisis situation. The author provides step by step techniques that can and should be practiced on an ongoing basis to learn, develop, and enhance media relations skills.
Read the entertaining and very readable book Keeping the Wolves at Bay: Media Training by Jonathan Bernstein, and discover the transformational power of effective media relations for any business. The author shares usable techniques and methods of practice to ensure that your organization has the optimal interviewing skills for facing any crisis situation.
Become Your Own Boss in 12 Months by Melinda Emerson - Book review
Become Your Own Boss in 12 Months
A Month-by-Month Guide to a Business that Works
By: Melinda F. Emerson
Published: March 18, 2010
Format: Paperback, 272 pages
ISBN-10: 1605501115
ISBN-13: 978-1605501116
Publisher: Adams Media
"To achieve success as a small business owner, you need to be flexible, pay close attention to your market, and figure out what you do not know about running a business", writes entrepreneur, and founder and CEO of Quintessence Multimedia, Melinda Emerson in her very practical and results oriented book Become Your Own Boss in 12 Months: A Month-by-Month Guide to a Business that Works. the author describes a plan for preparing and launching a business in twelve months, combined with a personal plan for becoming a successful entrepreneur.
Melinda Emerson understands the critical importance of planning to achieve success in an entrepreneurial venture. She also recognizes that not only does a business require planning from the idea stage to the grand opening, but that the prospective entrepreneur must learn some crucial life lessons about what it means to be an entrepreneur. Not only does a potential business owner require a Plan A, but also a Plan B, Plan C, and even more, to ensure that unexpected events don't derail the entire enterprise. Because there is so much business and personal planning required to start the business off on a successful path, Melinda Emerson provides a twelve month preparation process. This one year time frame is designed to ease the steep learning curve, and to establish an entrepreneurial mindset in the new business owner. Since potential entrepreneurs often don't even know what they don't know, each month, another piece of the knowledge gap is added toward bridging that divide.
Melinda Emerson (photo left) covers the essential knowledge areas that a new entrepreneur must learn in order to start a successful company. The author shares how a potential entrepreneur must establish his or her personal long term goals, and how these goals must be in harmony with the type of business start-up and its commitment level. At the same time, Melinda Emerson also stresses that a budding business owner must understand his or her own personal strengths and weaknesses, as these factors can help or impede business success. The book also examines the critical importance of understanding personal as well as business finances. The author helps the new business owner set a time line for developing the needed business skills, and concentrating on activities for achieving a successful transition from employee to entrepreneur. The book contains powerful advice for setting business goals and for anticipating and overcoming obstacles.
For me, the power of the book is how Melinda Emerson shares her own real world entrepreneurial experience with the reader in a logical and sequential way. The author stays true to her vision for the book of creating a twelve month process for making the personal transition from employee to entrepreneur, and from the idea stage to opening a new business. Because Melinda Emerson brings her business start up knowledge to the book, she describes openly the pitfalls awaiting the unprepared, and the personal sacrifices necessary for success.
These vital lessons provide an often needed antidote to the over enthusiastic, but very unprepared would be entrepreneur. As a result, the book's main premise is that planning of both one's personal life, and the imperative of a business plan, form the backbone of the book. The twelve month process for preparation to become a business owner follows the central theme of planning for both the entrepreneur, and for the business.
I highly recommend the must read and essential business start-up guide Become Your Own Boss in 12 Months: A Month-by-Month Guide to a Business that Works by Melinda Emerson, to anyone seeking a no nonsense step by step primer for starting a new business the right way. The author describes the process of becoming an entrepreneur, both in outlook and in business knowledge so well, that any would be business owner can utilize this book to make the transition from employee to business person.
Read the passionate and insightful book Become Your Own Boss in 12 Months: A Month-by-Month Guide to a Business that Works by Melinda Emerson, and make the move from cubicle to business ownership. This book is your one stop road map to personal and entrepreneurial success.
Jac Fitz-Enz: The New HR Analytics - Author interview
The acknowledged father of human capital strategic analysis, and Founder and CEO of Human Capital Source, Jac Fitz-enz, was kind enough to take the time to answer a few questions about his groundbreaking and visionary book The New HR Analytics: Predicting the Economic Value of Your Company's Human Capital Investments.
Jac Fitz-enz demonstrates, through a series of essays, written by leading human resource experts including himself, that Human Resources is not a cost to a company, but a measurable, and predictable contributor to overall corporate productivity and profitability.
Thanks to Jac Fitz-enz for his time but for his comprehensive answers.
What was the background to writing this book The New HR Analytics: Predicting the Economic Value of Your Company's Human Capital Investments?
Jac Fitz-Enz: It became clear in about 2007 that I had pushed metrics, benchmarking and best practices about as far as they could go. There was nothing new coming out. Then it struck me that the natural evolution would be toward predictability and eventually data integration. That is when I organized the Predictive Initiative composed of a dozen companies, management associations and a government agency. Over the next 18 months we developed Predictive Management, HCM:21®(human capital management for the 21st century). This is the model described in my book.
For many years, Human Resources has been viewed by corporate management as a cost center. Why has this point of view been so entrenched in companies?
Jac Fitz-Enz: I believe that ancient perception is finally dying out in many companies. There were a couple sources for this misperception. One is that HR was missing a quantitative language to describe the business values it was providing. That is what started me on the metrics and analytics trail back in the late 1970s. The second source is the HR people who have no aptitude nor interest in being a business professional. They like to run their process and work with people; period! For them the future is an endless conveyor belt on incoming problems with little satisfaction at the end of the day.
Has there been a move toward a much more quantitative analysis of the role of Human Resources in an organization?
Jac Fitz-Enz: I parse the HR population into four sections: One are the innovators. These people are on the leading edge of analytics and clearly are business partners. They make up about 10-15 percent. Second are the early adopters. They are another 20-30 percent who watch the innovators, follow and borrow what works from them. They are less skilled and motivated but, nevertheless are moving in the right direction. The third group is what I call the workers or drones. They show up every day and do their job; what they are told to do by the first and second group. There is no innovation here; just good work. Last are the zombies. They are the 10 percent who are lucky to get to work now and then. They are a drag on the organization and generally on society. Analytics is strictly within the first two groups.
How have the metrics used in HR analytics changed and been enhanced over recent years?
Jac Fitz-Enz: The change has been a progression from basic transaction recording; i.e., cost to hire, pay, train, turnover rate, etc., timeliness of various processing such as time to fill jobs, quantity or volume such as numbers hired, trained, processed. Later issues of quality and employee/manager satisfaction emerged. Within the past 5 years there has been a shift from descriptive analytics toward prescriptive decision making by applying simple processes such as correlations and regressions. Just now, with the advent of books on analytics, there is more movement toward predictability. The next exciting issue is data integration.
Jac Fitz-enz (photo left)
Your book goes far beyond the descriptive analytics field and enters into the realm of predictive management. What does this mean for HR?
Jac Fitz-Enz: Management is all about observing past outcomes and trends and making decisions about future investments. Executives can’t manage yesterday, or even today. All they can do is make decisions about investments for tomorrow. I call it Managing Tomorrow Today. Predictive analytics along with data mining finds patterns in historical and transactional data. Adding in forecasts of trends in economics, labor supply and competitor and customer actions and so forth, analytics then can identify predict future risks & opportunities with a high degree of probability.
When applied to human capital management HR can show the C-level the most cost effective paths to acquiring, developing and retaining talent. Without it all HR has to go on is past personal experience. The problem is that the past cannot be extrapolated to the future because the differences are too great. For instance, how can you take data from 2007 and use it as a model for managing 2011?
The other part that has become increasingly clear and powerful is the interactions between human capital (employees), structural capital (things owned by the company) and relational capital (outside interests). As elements of human capital management change so do structural and relational elements. For instance, if the four generation workforce has to be managed differently than the more homogeneous workforce of the past then we need to look at structural issues such as use of technology, design of workspaces, training tools, benefit programs and so on. Relationally we may have to rethink talent sources and methods, government regulations, and SEC imposed new human capital risk rules. I don’t see any way at all that HR can function effectively tomorrow without predictive analytics.
Is it indeed possible to predict upcoming events and develop the tools to influence those events in a positive way?
Jac Fitz-Enz: Certainly. Management has been doing it in production, marketing and finance for decades. Analytically speaking the same principles can be applied to employees. Marketing makes predictions about customer desires doesn’t it? And aren’t customers human beings just like employees? We’ve shown examples in the book of how to use analytics to make hiring more cost effective in terms of performance, potential and tenure. We’ve shown a succession planning methodology that directing impacts revenue per employee.
There is certainly a way to predict the effects of compensation and benefits within a total rewards system. I’m already getting calls from line managers who want to apply predictive analytics to their human capital managers. Why aren’t they calling their HR department instead of me?
Your book contains a new model of HR metrics. Briefly, what is that model and why is it important?
Jac Fitz-Enz: First, people need to understand that predictive analytics is primarily about a logical questioning system. We need a framework within which to study a problem before we throw statistics at it. Scientists learned eons ago that the solution to every problem is found within the questions asked. Once we understand our problem and desired solution we can gather data and analyze it. So, my model starts with a scan of everything outside that might affect the way we manage our human, structural and relational capital.
Secondly, it looks internally at everything that may be enhancing or inhibiting our success. Once we have all that data, both past and foreseeable futures, we can plan. Here we trade in old workforce planning methods that are industrial era, gap analysis exercises for capability planning. The goal is not to fill jobs but rather to acquire and retain human capability. It is an entirely different mindset.
The third step is process analysis. By applying analytics to our talent management functions of staffing, paying, training, etc. we can find turn expensive processes into corporate assets: processes that generate more value than they cost. Finally, we offer an integrated performance measurement/reporting package. It links strategic, operational and leading indicators into one report. For the most advanced people we build in data integration and risk management analysis.
Is it possible to change the role of Human Resources to becoming a value generator for the company?
Jac Fitz-Enz: Of course it is possible and has already happened in a number of organizations. The solution is found in the old axiom of Pogo Possum who said, “We has found the enemy and they is us.” HR is held back only by HR. It is possible even in companies where HR as a value generator has not been accepted. I did this 35 years ago when I was an HR director. I found business problems that I could fix through better sourcing or training and I fixed them. When management saw that I was adding business value (productivity and quality) their attitudes changed. You can’t wait for the knight in shining armor to rescue you.
Will we see an HR Analytics component as a standard feature contributing to the company bottom line?
Jac Fitz-Enz: I am on the board of a couple of companies. In my quarterly board package is a set of human capital metrics that we directors look at as part of our mandate to guide the company. Just like finance, production and technology we look at human issues as they affect the company’s profitability.
Are there any companies who are using this new HR Analytics model successfully right now?
Jac Fitz-Enz: The book contains about 20 cases of how companies around the world use human capital analytics to solve business problems. They range from isolated single variable issues such as turnover to complex corporate makeover examples.
What is the future for the HR Analytics model?
Jac Fitz-Enz: I believe that the innovators and early adopters will build on the fundamentals of analytics just as they have done with metrics. In time, the model will expand, improve and morph into something better based on experience and changes in the marketplace.
What is next for Jac Fitz-Enz?
Jac Fitz-Enz: Sometimes I feel like Moses. I’ve been leading people toward the Promised Land for over 30 years but will probably not live to see many of them arrive. The vanguard is about to cross over now, but the majority may still be decades away. For me, I am very interested in data integration and risk management. I’m working with two software companies that have very exciting prototypes which we are testing in the market now. By 2011 I expect to see both in the market.
*****************
My book review of The New HR Analytics: Predicting the Economic Value of Your Company's Human Capital Investments by Jac Fitz-enz.
Are you networking or building your network
In conversation with a couple of people last week I asked if they thought there was a difference between networking and building your network. They answered that when they started formal networking they were recently out of corporate life and they thought networking was all about finding people to do business with directly. This meant they went around attending lots of meetings and finding loads of new people. They did training courses on elevator pitches, talking to strangers and working the room. They didn't generate any business, but they didn't give up.
They realised through their experiences that effective networking was not a one touch contact sport but about building a network as the one real asset of a small business or independent professional. It became important to find groups of like minded people to replace the things they took for granted in Corporate Life. They are now building relationships with people they have things in common with by sharing business, support and knowledge.
I believe that building the right network for you and your business is vital. If you start with that premise it gives you the real reason for networking and your whole approach changes your focus from you to the people you meet.
Good Networking!
Dave Clarke
The missing ingredient in business networking
I spent a day at the start of this week with some colleagues and associates in a regular monthly meeting for the leaders of our NRG Business Groups. The focus of the day is all about how we can help each other build our respective businesses through the collective power of our shared networks. The meeting is facilitated to keep our overall objectives in mind whilst enjoying it and the social element is an essential part of the mix. Our discussions and interactions are primarily about building business, but they are also about supporting each other and sharing ideas, knowledge and best practice.
Someone pointed out to me that the overall experience was very similar to many business and networking meetings. There was, however, one big difference. We were focused on an ongoing strategy for helping to build each others business rather than just networking for the sake of it.
For many people the missing ingredient in their networking is focus. They have a general idea, but no specific reasons why they are doing it. Without that focus it can be difficult to work out where to network, who to network with, when to do it, what it is really all about and how to go about it.
Maybe the title of this post should be the 6 missing ingredients...
If you know anyone who could do with some help with how to build their network in a strategic way then please share this free download to help them work on the four key steps to building business through networking - http://bit.ly/NRGpdf
Good Networking!
Dave Clarke
Do business networks collaborate or compete?
"Avoid the competition" was a comment from Courtney Sperlazza in response to my post entitled What is the right approach in business networking? She went on to explain:
"I don't mean to avoid your competitors. What I mean is, avoid the concept of competition. You can work collaboratively with anyone. Even if you're in similar industries, there is something the other guy can do that you can't do and vice versa. Some of us call those things opportunities!"
One of the first steps we encourage in our advocacy model to how business networking really works is to clarify your target market. This is not so you can sell to them at networking events. It is so you can work out who else deals with them and so who you should be networking with to create those opportunities for each other. Real networking is a collaborative activity where you get to build a sustainable route to market for the long term. As I have written before it is not the face to face equivalent of cold calling.
Imagine my surprise this morning when I received a note that said that someone could not attend a meeting of one of our groups because they were a member of a competing network!
Doesn't that miss the point of networks being places to collaborate?
The best example for the networks to set is to collaborate with other networks.
Good Networking!
Dave Clarke
Can you do too much networking?
Someone raised the possibility that they may be doing too much networking on the 4networking business forum last week. So can you spend too much time networking?
There are many people who spend too much time attending networking groups & events because they are not really networking. They are really engaged in the face to face equivalent of cold calling. They attend loads of meetings & broadcast loudly, but don't listen. They meet as many people as they can, but never have any time for others. Their idea of following up is to add you to their database. I could go on, but you know who they are. They don't really engage, share or build long term mutually beneficial business relationships.
There are some people who are networking with the best intentions, but don't give themselves enough time for following up. They may need to improve the balance of their networking time and do more one to one interactions between larger meetings.
Those people that 'get' how networking really works invest their time in building relationships with other people they have things in common with. They know that it takes time and you have to know, like, rate and trust someone before you will advocate them. They know this time is worth it as one 'Advocate' is worth far more than lots of one off transactions. They attend meetings to strengthen existing relationships and build some new ones. They get to share business, support, knowledge and have fun doing it too. This sort of networking is legitimate and necessary work time stuff and you probably don't have the time to do enough of it.
Good Networking!
Dave Clarke
