DERGEL Executive Search

Building Strategic Partnerships: The Lesser-Known Benefits

July 31, 2023 by DERGEL Executive Search Leave a Comment

Value realization awaits, and the opportunities may be hidden in our partnerships.

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The full potential of a relationship may extend beyond the initial intentions of forming. Here are ways to synergize additional win-wins in partnerships:

Talent Attraction and Retention

Connecting with the right companies can enhance an organization’s employer brand, making it an attractive destination for top-tier talent. Strong partnerships with reputable organizations can signal to prospective employees that the company is well-connected and committed to creating an enriching work environment. Moreover, collaboration often leads to skill-sharing programs, which empower existing employees to learn and grow, increasing overall job satisfaction and retention rates.

Long-Term Stability and Succession Planning

Feeling empowered about your future leadership is essential. Your strategic partner may already have a relationship with a talent search and acquisition company. A candidate, fitting of your organization’s long-term needs, may be introduced to you via your partner. Additionally, leaders can explore joint ventures or shared ownership arrangements with complementary businesses that provide a sustainable path forward. These approaches can help preserve the organization’s legacy and create a smoother transition plan for the future.

Competitive Edge in Bidding and Procurement

Many industries, particularly in the government or large enterprise sectors, require businesses to have a strong track record and the capacity to fulfill substantial projects. Partnering with other reputable companies can strengthen the bid, showcasing a collective ability to deliver comprehensive solutions and win larger contracts.

Access to Government Incentives and Grants

Collaborations with public sector organizations or research institutions can open doors to government incentives, grants, and funding opportunities. Leaders exploring partnerships in research and development, sustainability, or social projects may find support from government programs aimed at fostering innovation and societal betterment. Such incentives can significantly boost an organization’s financial resources for critical projects.

Improved Regulatory Compliance

In heavily regulated industries, strategic partnerships can aid in achieving and maintaining compliance with complex laws and regulations. By teaming up with partners well-versed in compliance matters, leaders can ensure that their organization stays abreast of the latest requirements and standards. This reduces the risk of non-compliance penalties and reputational damage. This teamwork allows the organization to focus on their core competencies and mission, creating more successes for the partnership.

Leveraging Shared Research and Development (R&D) Initiatives

Strategic partnerships can lead to shared R&D initiatives, allowing organizations to pool resources, knowledge, and expertise. By collaborating on research projects, leaders can accelerate product development timelines, reduce costs, and increase the likelihood of breakthrough innovations.

Having transparent communication, flexibility in strategy, and measuring success through key performance indicators (KPIs) will help the partnership keep strong roots and productivity. There are often incentives to deepen and develop relationships beyond what could have been initially known. Expanding the opportunities for collaboration will enrich a strategic long-term vision and naturally encourage a dynamic joint work ethic.

Do you have comments, questions, ideas, or suggestions? Share with us at: [email protected]

The Power of Responsiveness

July 26, 2023 by Yaffa Blanshay Leave a Comment

Your inbox is packed, and your voicemail is full. There is a line outside your office, or you are pinged incessantly. You feel like telling everyone to take a number. Being responsive is a conscious and powerful decision that has numerous positive effects on your business and personal relationships, not to mention, a reflection of good old-fashioned decency. Lack of responsiveness can be your downfall.

Responsiveness requires you to carve out time daily and to prioritize responsiveness as a critical task.

Responsiveness implies communicating in a timely fashion – and may depend on the situation – from immediately to 48 hours but not beyond.

Responsiveness demonstrates empathy towards the other individual. You may not share the same concern but understand that it is an important concern for THEM and therefore merits a response.

Responsiveness does not mean that you must provide a final answer YET but acknowledge the communication and establish a timeline.

Responsiveness builds trust and loyalty; it strengthens connections and relationships.

Responsiveness demonstrates a sign of respect and value for another person’s time and effort and for that individual.

Lack of responsiveness sends an equally strong message of disrespect, and devaluing of the other individual or their time, effort, or inquiry.

Being proactive in your communications is also a type of responsiveness, eg sending a follow-up after an important meeting, a summary of next steps, a thank you after an interview, etc.

Responsiveness has a positive impact on others, it is a time-saving activity in the long run and can lead to overall business and personal success.

AI in the C-Suite

July 24, 2023 by Katie Moran Leave a Comment

The workforce has been closely monitoring the advancement of AI tools for multiple reasons including excitement of what can be created, how they will make work-lives easier and how it will affect the workforce. We have observed a gradual effect throughout the last few decades, but the global unveiling of ChatGPT earlier this year brought on an explosion for the future of AI. The most recent shake up is that AI has officially taken a role in the C-Suite!

On July 6, 2023, Quick Custom Intelligence made a groundbreaking announcement: their new COO is an AI system, and not just any system either, the AI was created in-house and has been dubbed, JARVIS.

So, how does this announcement shake-up the future of succession planning and the workforce? A change in the training of future Executives, the loss of organizational Leaders/Smaller Teams, and more collaborative teams, just to name a few.

How can we stay relevant in an AI powered workforce?

Continuing education. We are lucky to live in an age when access to educational resources is just a click away, in addition to the traditional learning opportunities that come from formal education organizations, private services, workshops, etc. Which allow for the additional bonus to network outside of your team. Personal educational platforms, such: Udemy, xEd, Coursera, etc., and even recently, these platforms have expanded their offerings to include team courses for businesses. Also, many organizations are now offering “Product Specific” training modules on their websites. Whichever route you choose, there are a plethora of great opportunities for low risk first exposures to new skillsets; some even offer full courses, certificates, and advanced learning.
Improving Communication Skills. Working on improving teamwide communication has always been essential to organizational success, and now it requires different perspectives and attention. As workflows pivot away from repetitive and regular tasks, due to the engineering of models and algorithms taking them off our hands, we will naturally be left focusing on work that requires more uniquely human input. These parameters will change as our tools upgrade, but our teams will still need well-structured internal systems and communications to stay aligned and achieve the organizational mission statement.
Exploring More Creative Ventures and Collaborations. When it comes to the bottom line, AI systems are only tools created in the interest of making lives easier for humans. The advancement of their abilities allows for users to have more time to explore creative ideas. Additionally, exploring different tools will, more than likely, bring about new inspirations never considered before.
Leveraging AI Modules to find hidden Talents/Skills. Exploring different AI Modules that are not in your typical scope of interests is an excellent method of keeping well-rounded awareness. It is not necessary to become an expert; yet, having a base knowledge in additional areas will keep your brain sharp and adaptable.

Technological advancements have been changing the game of the workplace throughout time. The introduction of AI’s true capabilities reveals the potential for technology to fully take over businesses. Despite the racing speed of technological advancements, it’s important to take the time to research thoroughly. Even though we see AI modules expanding capabilities, they will not be able to replace what companies really need: People.

Do you have any comments, questions, ideas, or suggestions? Share with us at: [email protected]

Make Space For Your Team To Outperform Your Expectations

July 13, 2023 by DERGEL Executive Search Leave a Comment

There is a management approach which helps normalize the pursuit of lateral thinking and creative solutions. This strategy also aims to open new doors and opportunities along the way.

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Employee-led projects and initiatives can help develop the creative pulse of an organization, clarify a team’s core functionalities & strengths, and bring about some unexpected success. Let us explore some examples:

1] Google’s “20% Time”

One notable case study is Google’s implementation of the “20% Time” policy. This initiative allows employees to devote 20% of their workweek to personal projects. The results have been remarkable, with products such as Gmail, Google News, and AdSense originating from employee-led projects. By providing dedicated time for self-directed work, Google nurtures a culture of innovation and gives employees the freedom to explore new ideas beyond their routine tasks.

2] Atlassian’s “ShipIt Days”

Atlassian, a leading software company, conducts regular “ShipIt Days” where employees have 24 hours to work on projects of their choice. This initiative encourages cross-functional collaboration and empowers individuals to bring their ideas to life. By fostering a culture of experimentation and creativity, Atlassian has seen numerous successful projects emerge from these dedicated sessions.

3] 3M’s “15% Rule”

3M’s renowned “15% Rule” allows employees to spend up to 15% of their working time on projects unrelated to their primary responsibilities. This freedom has led to breakthrough innovations, such as the creation of the iconic Post-it Note. By granting employees the autonomy to pursue their passions, 3M has created a culture where individuals feel empowered to think outside the box and contribute to the company’s success.

4] LinkedIn’s “InCubator” Program

LinkedIn’s “InCubator” program is designed to harness the creativity and entrepreneurial spirit of its employees. Through this initiative, individuals can pitch their project ideas and, if selected, receive dedicated time and resources to bring them to fruition. This program fosters intrapreneurship, strengthens employee engagement, and results in innovative solutions that contribute to LinkedIn’s continuous growth.

5] Valve Corporation’s Flat Hierarchy

Valve Corporation operates on a unique flat hierarchy system, allowing employees to choose their projects and work with others in a self-organizing manner. By eliminating traditional management structures and granting autonomy, Valve nurtures a culture where employees take ownership of their work. This approach has propelled the company’s success in the competitive video game industry.

Even before considering these approaches, there are plenty of takeaways to be absorbed. When noticing an individual’s skill set that seems unrelated to their job title, a forward-thinking manager might consider, “How could this be useful beyond its present application?”

When considering what trajectories to position towards, it could be helpful for the organization to conduct an interview of the employee base. This will help expose the organizational leadership to the employees’ view of the company’s core competencies and strengths.

As you might imagine, there are some downsides when considering such bold directions. It may break the norm & will probably decrease the measurable employee output in the immediate present. That, however, is only part of the picture, which doesn’t include the increase in employee satisfaction & groundbreaking idea potential. Each organization gets to consider whether the time, energy, and financial investment is fitting for their situation. Realistically, not every company has the proper teams and resources in place if major ideas and opportunities came knocking on the door. Those who do see the value in this venture, may join in producing the next generation of fulfilled & loyal teams as well as unheard of ideas.

Do you have comments, questions, ideas, or suggestions from how your organization has effectively made space for your team to outperform expectations? Share with us at: [email protected]

Speaking Their Language: Allow Your Message to be Naturally Understood

July 6, 2023 by DERGEL Executive Search Leave a Comment

Whether it’s pitching to a target market or guiding a fellow team member, when you’re speaking the same language, your value will be apparent.

Effective communication is paramount to success. Speaking the language of the intended audience helps realize value. Let us explore some practical directives to allow our message to be more effortlessly comprehended.

Understand Your Audience

To truly connect with your audience, it is crucial to understand their language. This goes beyond linguistic barriers; it involves comprehending their needs, preferences, values, expectations, and unique perspectives.

Take time to listen actively and engage in meaningful conversations. Incorporate language that they relate to into your message; pay attention to the vocabulary, tone, and style of communication commonly used by your audience. Avoid jargon or technical terms that may alienate or confuse them. Instead use terminology, examples, and references that are familiar and relatable to your audience, demonstrating that you understand their field and respect their expertise. By understanding your audience, you can tailor your message to resonate on a deeper level.

Adapt Your Approach

When communicating digitally, customize your language and style to fit the norms and expectations of the platform you’re using, (in a similar way that you would adjust in a face-to-face conversation). Additionally, even though you may achieve the right language and establish strong connection with your target audience on one platform, does not necessarily mean it will translate with the same effectiveness on other platforms. Each medium is likened to its own welcoming lobby, with different features, functions, and activities setting the tone of the room.

Address Their Pain Points

Identify the challenges, problems, or goals your audience faces. Craft your message to emphasize how your product, service, or idea can solve their problems or help them achieve their goals. Highlight the benefits that matter most to them.

Tell Stories and Use Examples

Use relatable scenarios to explain complex concepts and make your message more accessible. Share relevant anecdotes or case studies when appropriate. People connect with stories and real-life examples in a fundamentally different way.

Use Visual Aids

When done thoughtfully, a picture, infographic, or video can convey a vast amount of relevant information in a digestible, appealing and efficient manner.

Test and Iterate

Monitor the response to your communication efforts. Pay attention to the feedback & engagement. Refine your message based on the results and adapt to better fit your audience.

Be Authentic

Authenticity builds trust and makes your message more relatable. Whenever possible and appropriate, address individuals by name and acknowledge their specific contributions or achievements. This personal touch helps strengthen and open the communication channels. Additionally, find values and beliefs that resonate with both you and your audience. Then, reflect them through your message to create a sense of alignment and shared purpose.

If your audience senses that you are investing in understanding them, they will want to invest and understand you. Allow your language and delivery to meet their needs, and they will be more naturally open to taking action on your message.

Do you have any comments, questions, ideas, or suggestions? Share with us at: [email protected]