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Matuson Consulting // A Newsletter On: Creating exceptional workplaces and extraordinary results

I can’t believe I’m even writing this. I’m launching another book this month. The second edition of the international bestseller, Suddenly in Charge: Managing Up, Managing Down, Succeeding All Around will be released on September 19th. Pre-order your copy here.

In conjunction with the release of the book, I’m hosting a teleconference on Managing Up in the Top Down World of Business. We’re almost at capacity so if you want in, don’t delay. Here’s the registration link.

Want to Dramatically Increase Profits? Focus on Creating Magnetic Leaders

When business leaders and owners think of improving profit margins, they focus on things like new product development, marketing, and quality assurance. Rarely does leadership factor into the financial equation. However, a recent study by Zenger Fokman, a leadership training and development company, yielded some interesting results.

After evaluating the employees of a Fortune 500 company, they were able to divide the leaders into three categories—the bottom 10%, the top 10% and everyone else.

When comparing these groups to the company’s bottom line, they found:

  • The bottom 10% lost the company $1.2 million.
  • The middle 80% generated $2.4 million.
  • The top 10% brought in $4.5 million net income.

When looking at your leadership team, don’t make the fatal mistake of assuming that a leader who isn’t bad is automatically good. It’s also important to understand that you can develop leaders who inspire people to perform at a higher level and thereby increase organizational productivity and profits.

Here are five ways organizations can help their managers transform into magnetic leaders, while simultaneously increasing profits.

  1. Make coaching accessible to all.
    The most magnetic leaders I know have either worked with a coach or are currently working with a coach to help them improve their performance. It’s impossible to see yourself as others see you, which is why you need someone with an outside perspective to help you improve. I know firsthand the benefits of having a great coach, as one was awarded to me when I found myself suddenly in charge.

  2. Provide leaders with mentors.
    One of the best ways to learn is by working with someone who has been there and successfully done what you are about to do. Companies would be well served to encourage senior leaders to mentor those with less experience. Opportunities for younger people to share their expertise with those who are more senior go a long way toward developing magnetic leaders, as younger people have a lot of expertise worth tapping into.

  3. Provide managers with access to leadership development opportunities.
    Not every organization is large enough to have an entire department dedicated to leadership development. Luckily, there is more than one way to access the expertise needed to become a magnetic leader. Conferences, industry association meetings, and local chambers of commerce all offer programs worth consideration. You can also bring in an outside expert to deliver a program in-house.

  4. Invite thought leaders into your organization.
    When authors are launching books, they are keen to get the word out. Seek authors who specialize in a topic you want your employees to learn more about. Invite thought leaders to keynote your next company-wide management meeting, or ask them to facilitate a lunch-and-learn. Don’t know whom to call? Call me, and if I can’t help you, I’ll refer you to someone who can.

  5. Rotate leaders throughout the organization.
    Some of the most magnetic leaders I know became that way because of their experience working for organizations that encouraged them to rotate into different positions within the organization. This experience gave them the opportunity to learn from a number of leaders, who had different perspectives of company life, and gave them an appreciation for the work that others did in the organization.
Magnetic leaders add far more economic value than average or poor leaders. Clearly, few investments will pay off as handsomely as the choice to develop great leaders within your organization.

How Women Are Holding Themselves Back and What They Can Do to Change This

Wow! I had no idea the impact I would have when I posted this article on LinkedIn on how women are holding themselves back and what they can do to change this. Here’s an excerpt.

The New York Times recently noted that men are more likely to apply for jobs they’re less qualified for, they initiate salary negotiations FOUR times more often than women, and demand thirty percent higher salaries. If this doesn't jolt women to change their behavior, I don't know what will.

It's okay to be angry about this. Just make sure your anger is pointed toward the right person and that you use this energy to improve your work status. Here's where to begin.

Eliminate these three phrases from your vocabulary. Women need to stop asking for permission. You can do this by immediately eliminating these three phrases from your vocabulary.

  1. If possible
  2. I wondered
  3. Would it be okay

You can replace these phrases with powerful statements like,

  1. I'm going to
  2. Here's where I'm going with this
  3. This is the direction I'm heading in

If you’re an employer and you’re reading this, you may be wondering why this should even matter to you. Let me explain. I’ve given speeches and facilitated conversations on this topic. Participants (both male and female) reach out to me afterwards to tell me how they are no longer asking for permission to do their jobs. Their productivity has soared and they actually enjoy coming to work. I’d say that’s a win-win for individuals, as well as their employers.

Access the full article here.

An Idea Worth Sharing

One of my advisory clients wrote to me about a new program she has implemented. Once a month, an executive from the firm facilitates a lunch session where employees are invited to ask questions of the executive. What makes this idea unique is that there is a sealed box in one of the common areas, where employees, who may be shy about asking questions, can drop a note into the box. The box gets opened in the meeting.

There are two things I love about this idea. The first is that it forces the executive to be authentic in their response. They’ve not seen the questions beforehand, so they can’t prepare stock answers. Authenticity is one of the seven traits of magnetic leaders which I list in my book, The Magnetic Leader. The second thing I love about this idea is that it doesn’t cost a dime to implement this.

So what are you waiting for? Give it a go and send me a note (Roberta@matusonconsulting.com) to let me know how it goes.

Rules of Attraction: Your Monthly Tip on Attracting and Retaining Top Talent

You trust hiring managers enough to manage their teams. Then why wouldn’t you provide hiring managers with ownership over hiring decisions? Give it a try. You’ll be amazed at what happens.

Share This Newsletter

For more tips on attracting and retaining top talent, download a copy of Talent Magnetism. Call us today at 617-608-3633 if you’d like to discuss applying these concepts to your organization.

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Meet Roberta Matuson

For more than 25 years, Roberta Matuson has helped leaders in Fortune 500 companies, including General Motors, Best Buy, and, The Boston Beer Company, achieve dramatic growth and market leadership through the maximization of talent.

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Testimonials:

“Your work with my senior group exceeded my expectations. I’ve never seen anything like it. We are now growing gang busters and the team is really working together. Fantastic job." Ronald P. Bryant, President and CEO, Noble Hospital.”

Ronald P. Bryant
President and CEO, Noble Hospital.

“Roberta has been a tremendous mentor and coach to me over the past year. She has partnered with me on multiple professional development fronts, as well as helping me through some very challenging situations. I found Roberta to be wise counsel!”

Allison DiSiena
VP of Recruiting, Marketing, Interactive and Creative Services Division
24 Seven Inc.

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Visit Roberta Online:
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Email: Roberta@MatusonConsulting.com
Tel: 617.608.3633

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