Innovation is a huge buzz word in the world of global business practices. The word has even become part of Fortune 100 company’s logos or marketing campaigns. It’s a great word that can portend success for those willing to truly embrace and adopt the concept. But just because one talks about innovation, does not make one innovative.
When it comes to day-to-day business practices, which leaders truly accept and incorporate “innovation?” In order to harness the power of innovation; innovative thoughts, innovative processes, innovative products, one must first be willing to take a risk and do what no one else is doing. This takes more courage and more authority than the average employee possesses. If I take a risk and use a non-traditional product (with great potential) what happens to me or my department if the results are not immediately transparent or measurable? If an employee fears trying something unique and innovative, it simply will not happen. Without the blessing and commitment of C-suite management to innovation, the concept is more of a talking point than an action item.
I would respond by stating that just doing what is considered “the norm” or what others in your field are traditionally doing, while yielding consistent results, will generally miss the “out of the park” home run that a non-traditional unique solution might offer. No risk, no reward.
So while volumes have been written about innovation, the reality is that global business tends to operate in a safety zone (minimizing risk) and generally eschews the true visionary risk takers that support or create innovation. Which brings up the interesting point…working in emerging markets is anything but “normal.” We take advantage of unusual markets that can produce a larger return on investment (more risk more reward). Isn’t this a perfect place to integrate the non-typical solution called innovation?
At GT Associates nothing we do is ordinary.
Monday, September 21, 2015
Monday, September 14, 2015
HR…Have You Earned a Seat at the Table?
"I don’t want your bull@%! theory. Show me how you can make my department better. I need for you to deliver results that matter to the business." These comments in a first meeting with an Operations Executive certainly garnered my attention.
The reality is…these comment are spot on
Theory doesn’t blend well with metrics and bottom-line business results. The conversation about HR having a “seat at the table” is old news. The door is open and select Human Resources functions have their seat; increasingly ones being populated by HR Business Partners who are fully aligned with business units.
But for many organizations that have filled these roles with HR generalists, long on specific skills in the HR function, but short on experience in other critical areas of the business, these partnerships are proving frustrating for both sides.
HR’s traditional choices of off-the-shelf solutions (people and processes) have worked, so why not continue, is the thinking of many.
Why Many OTS Solutions Don’t Work
Innovation matters to a company’s bottom line. Innovative solutions to fast and ever-emerging challenges result in profit, improved systems, and truly engaged and retained talent.
Cookie-cutter designs and solutions don’t work for companies that are industry leaders. They are safe. They are the status quo. And they do deliver results, but not at the high degree of return of top risk-takers and innovators.
What’s your company’s design? Do you play it safe or do you have business-focused results that earn a respected seat at the table?”
At GT Associates nothing we do is ordinary.
The reality is…these comment are spot on
Theory doesn’t blend well with metrics and bottom-line business results. The conversation about HR having a “seat at the table” is old news. The door is open and select Human Resources functions have their seat; increasingly ones being populated by HR Business Partners who are fully aligned with business units.
But for many organizations that have filled these roles with HR generalists, long on specific skills in the HR function, but short on experience in other critical areas of the business, these partnerships are proving frustrating for both sides.
HR’s traditional choices of off-the-shelf solutions (people and processes) have worked, so why not continue, is the thinking of many.
Why Many OTS Solutions Don’t Work
Innovation matters to a company’s bottom line. Innovative solutions to fast and ever-emerging challenges result in profit, improved systems, and truly engaged and retained talent.
Cookie-cutter designs and solutions don’t work for companies that are industry leaders. They are safe. They are the status quo. And they do deliver results, but not at the high degree of return of top risk-takers and innovators.
What’s your company’s design? Do you play it safe or do you have business-focused results that earn a respected seat at the table?”
At GT Associates nothing we do is ordinary.
Monday, August 31, 2015
Innovation. Collaboration. Sophistication. Who in Business has time?
Globalization in business has created a sophisticated, complex and competitive environment. The challenges facing companies today are unprecedented: Costs, regulatory changes, industry transformation, and product innovation. No surprise there. Right?
To be more than successful, companies need to continually carefully calculate new and better products and services against the bottom line.
Yet, internal challenges to new methodologies often exceed those pressures experienced externally:
• Not invented here.
• We’ve always done it that way.
• There’s no time.
A new, one-design-does-not-fit-all approach does not equate to higher costs. Rather, faster time-to-task competence results in lowering costs.
At GT Associates nothing we do is ordinary.
To be more than successful, companies need to continually carefully calculate new and better products and services against the bottom line.
Yet, internal challenges to new methodologies often exceed those pressures experienced externally:
• Not invented here.
• We’ve always done it that way.
• There’s no time.
A new, one-design-does-not-fit-all approach does not equate to higher costs. Rather, faster time-to-task competence results in lowering costs.
At GT Associates nothing we do is ordinary.
Tuesday, August 25, 2015
Return on Investment: Chasing an illusion?
Return on Investment: Chasing an illusion?
For years business has tried to measure the Return on Investment (ROI) of overseas assignments. Financial departments hold all elements of business accountable to the tangible and measurable ROI as a cornerstone of fiscal responsibility. While ROI is incredibly important to any company’s bottom line, spending time trying to measure the intangibles or long-term return of an expatriate assignment is not.
Managing the high costs of global assignments is complicated, but attainable in terms of the tangibles: salary, housing costs, transportation, training, legal fees, travel, etc. And, businesses should continue to manage these costs. However, trying to ascertain whether the international assignment investment provides a return on this investment poses a unique challenge not achieved by traditional methods of measurement.
Successful global assignments are often determined by completion of the assignment itself (typically 3-4 years). Corporations also measure if business goals and objectives are met and determine if the costs associated with the assignment were controlled. What is not measured and oftentimes ignored: 1) Is the family happy and well adjusted? 2) Is the employee clear on objectives and his or her power to execute those objectives? 3) What specific skills the employee expected to gain during the assignment? 4) How will s/he apply these skills upon repatriation? 5) What job is the employee returning to? 5) What intangibles are learned and how is newly gained intellectual property shared?
Trying to measure these intangibles using traditional methods does not ensure success or solve failures of an international assignment. Addressing the long-term return and the ability to use and share the lessons learned on the assignment will yield answers.
At GT Associates we suggest that rather than focusing on trying to come up with a black-and-white ROI solution for expatriates, time is better spent addressing the intangibles and succinctly measuring long-term ROI; that is: employee loyalty/retention, long-term employee success within the company, and the ability of that employee to concretely define and share lessons learned from the expatriate assignment. We see the ROI for expatriate assignments as individualistic and highly unlikely to fit a one-size fits all formula. At GT Associates nothing we do is ordinary.
Managing the high costs of global assignments is complicated, but attainable in terms of the tangibles: salary, housing costs, transportation, training, legal fees, travel, etc. And, businesses should continue to manage these costs. However, trying to ascertain whether the international assignment investment provides a return on this investment poses a unique challenge not achieved by traditional methods of measurement.
Successful global assignments are often determined by completion of the assignment itself (typically 3-4 years). Corporations also measure if business goals and objectives are met and determine if the costs associated with the assignment were controlled. What is not measured and oftentimes ignored: 1) Is the family happy and well adjusted? 2) Is the employee clear on objectives and his or her power to execute those objectives? 3) What specific skills the employee expected to gain during the assignment? 4) How will s/he apply these skills upon repatriation? 5) What job is the employee returning to? 5) What intangibles are learned and how is newly gained intellectual property shared?
Trying to measure these intangibles using traditional methods does not ensure success or solve failures of an international assignment. Addressing the long-term return and the ability to use and share the lessons learned on the assignment will yield answers.
At GT Associates we suggest that rather than focusing on trying to come up with a black-and-white ROI solution for expatriates, time is better spent addressing the intangibles and succinctly measuring long-term ROI; that is: employee loyalty/retention, long-term employee success within the company, and the ability of that employee to concretely define and share lessons learned from the expatriate assignment. We see the ROI for expatriate assignments as individualistic and highly unlikely to fit a one-size fits all formula. At GT Associates nothing we do is ordinary.
Monday, August 24, 2015
Blow Up HR?
A recent feature in HBR suggests just that. While
this seems extreme, there is merit if one digs deeper.
It’s not recent news that HR is being pushed to contribute to business results as other departments must contribute to performance goals and objectives. No doubt, many HR departments are doing this. While others, unfortunately, haven’t finalized their formula for significant and meaningful business contributions.
GTAssociates partners with HR, Operations, and the C-Suite to ensure business success that, without question, contributes to talent and resources in an expedient and bottom-line results approach.
It’s not recent news that HR is being pushed to contribute to business results as other departments must contribute to performance goals and objectives. No doubt, many HR departments are doing this. While others, unfortunately, haven’t finalized their formula for significant and meaningful business contributions.
GTAssociates partners with HR, Operations, and the C-Suite to ensure business success that, without question, contributes to talent and resources in an expedient and bottom-line results approach.
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