Welcome to August/September’s edition of The Pelorus: a selection of content and research Openside have discovered in the last month – which you may not have seen – which we hope will give you actionable insights that you can use in your own firm. We have written a summary of each article with a link to the full article if you want to read more.
Why are organisations often unable to answer a seemingly simple question: Which traits distinguish our best future C-suite leaders? Despite investing in building their leadership pipelines and using an array of tools, planning and training, the key indicators of true stars are missed, so how can companies make the right choices for the top jobs? Authors Reimer, Bryant and Feuerstein interviewed 2,500 executives and suggest that in order to identify and develop leaders to ensure long-term, strategic performance, firms should qualify and quantify the “how” of the leader’s achievements, not the “whats”. Because the “how” can be the best predictive indicator of a leader’s future performance.
There is a decreasing interaction between B2B buyers and salespeople, as buyers are doing their own research and relying on digital resources. More companies are embarking on ABM as a valuable strategy to drive stronger customer relationships and retention. The article quotes Dun & Bradstreet who suggest that as companies aim for greater alignment, they should “stop focusing on the ‘M’ in ABM; it needs to be called Account-Based Marketing and Sales. When done well, they say, companies should not be able to tell where marketing ends and sales begins”. According to the report, customers want a consumer-like experience and those companies that develop a better understanding of the customer decision journey can benefit from a boost in sales by an average of 5-10% and customer retention by an average of 30%.
Michael Gervais talks about social approval, the negative effect of FOPO (Fear of Other People’s Opinions) and the danger of losing your sense of self. The article suggests ways in which you can cultivate more self-awareness, with practical advice on how to develop a personal philosophy by answering a series of questions and evaluating you answers. Gervais admits it will require more effort and power to live in accordance with your personal philosophy but says “the result, which is to authentically and artistically express who you are, will push you to live and work with more purpose and meaning”.
A reminder from the archive of another myth which is frequently used to explain different ways of thinking such as logical, focused and analytic, versus broad-minded and creative. Christian Jarrett explains that although the right and left hemispheres of the brain function differently, the distinctions aren’t as straightforward as the myth makes out, as both hemispheres are very well-connected and operate together. Jarrett hopes that the simplistic myth will never drown out the real story which, although more complicated, is much more fascinating.
LinkedIn has been around for a while and is constantly changing. Steve Gordon interviews LinkedIn expert,Tracy Enos, to find out where to begin on LinkedIn and what you need to do (or review) to increase audience engagement and attract new clients. Tracy suggests several practical ways to improve, starting with going back to the basics of your profile, having a consistent marketing campaign and using Sales Navigator and LinkedIn Publishing to create value and start real conversations that are more profitable.
Research has shown that taking breaks and resting after learning improves retention and helps to consolidate what we have just learned. The latest study in “Current Biology” is consistent with previous research and suggests improvements when learning a new skill are made “offline” when a task is not being performed. Although, the study focused on performance when learning a very simple motor task, it is hoped that the research may inform strategies to “relearn lost skills” in rehabilitative medicine and it remains to be seen whether short beaks are equally as important when acquiring more complicated skills.
We hope you find these articles thought-provoking and that, where necessary, they have implications on the way you work within your firm. Please share this email with any of your clients or colleagues whom you think may benefit – there is a link to subscribe to ‘The Pelorus’ below.
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