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Education
These six intelligences will drive smart leadership in disrupted times
Excerpts from article by John Kao, published in the World Economic Forum website
Sometimes it takes a crisis to reveal gaps and discontinuities. The coronavirus pandemic has revealed how some leaders are challenged by the unexpected and the need to innovate “ahead of the curve.” The crisis heightens our need to re-evaluate prevailing models of leadership.
Coronavirus is an extreme wakeup call, but it is emblematic of an era whose very essence is disruption. Even before the current pandemic, we lived in a perfect storm of accelerated innovation, geopolitical uncertainty and black swans.
The kind of leadership proficiencies we need in an era of disruption cannot simply be read from books, gleaned from PowerPoint presentations or acquired in brief executive programmes. They require new forms of pedagogy that are personal, experiential, and intimate.
But what are the new standards by which we should judge leadership? What is a model of leadership that fits with this age of disruption?
Psychologists refer to cognitive complexity as the ability to draw on multiple frames of reference or intelligences at the same time. Drawing from three decades of experience as a trusted advisor to companies and governments, I’ve developed a framework of “Six Intelligences” that are the building blocks of the new “smart” leadership.
1. Contextual intelligence
In a sense, leaders are both the navigators and captains of an ongoing journey. This clarity of context is essential for taking relevant action. Cultivating (and listening to) divergent perspectives, exercising intuition in appropriate measure, perceiving weak signals, and conducting mental rehearsals for unimaginable outcomes are all approaches to cultivating contextual intelligence.
2. Moral intelligence
All journeys express a purpose that is shaped by a particular set of values. Strategy (what we must do) is how we will realize our mission (what we seek to achieve) which in turn reflects our purpose (why we’re in business) which is based on our values (our enduring beliefs.) Unfortunately, it is common for leaders to begin and end with strategy processes, and in terms of a value-free format that focuses on maximising shareholder value above all.
3. Social and emotional intelligence
Social and emotional intelligence expresses our values in terms of how we interact with and influence others. We connect through our empathy and compassion – our ability to put ourselves into the shoes of another. This in turn allows us to inspire and motivate as a trusted role model.
4. Generative intelligence
The ability to give birth to new ideas and realise value from them is the engine that provides the “how” of journeying to a desired future. Generative intelligence begs a fundamental leadership question: “How well do I mobilize my creativity and that of others to realize value? To what extent am I able to orchestrate the talents of diverse contributors?”
5. Technological intelligence
Leaders must be able to understand, make use of and amplify the power of rapidly emerging technologies and their impact. This is a new set of literacies that apply not only to business models but also to organisations and how they function.
6. Transformative intelligence
Navigating to a desired future of necessity requires transformation, not simply change management exercises. An ability to create and drive a meaningful roadmap will motivate people to take action and align their efforts. Such a roadmap comes alive with clear, credible communication and compelling narratives.
Career
How to calculate employee turnover and improve retention
Excerpts from article by Skye Schooley, published in The Business News Daily
What is employee turnover?
Employee turnover is when staff leaves your company – this includes both voluntary (e.g., an employee resigns, retires, or transfers) and involuntary turnovers (e.g., an employee is laid off or fired). Although some level of employee departure is expected, it is important to monitor your turnover rate to have better insight into employee morale and to make informed decisions.
How to calculate your employee turnover rate?
To calculate your employee turnover rate, you need three separate figures: the number of employees who left in a given time frame (both voluntarily and involuntarily), the number of employees at the beginning of that time frame, and the number of employees at the end of that time frame.
First, you must calculate the average number of employees during the set time frame.
- Average number of employees = (Number of employees at the beginning of set time frame + Number of employees at the end of set time frame) / 2
After you have the average number of employees, use the following formula to calculate your employee turnover rate:
- Employee Turnover = (Number of employee departures / Average number of employees) x 100
How does turnover affect your business?
Some instances of employee turnover are inevitable and outside the company’s control, like an employee retiring or relocating. However, many times, employee turnover is caused by unfavorable workplace circumstances that can be managed.
Employees are more likely to quit if they feel underappreciated and overworked, especially if their work stress is making it hard for them to maintain a good work-life balance or causing them physical or emotional distress because of improper work conditions and employee care.
Employee turnover can also be the result of poor management, negative company culture, lack of career opportunities and advancement, and inaccurate job descriptions. In addition, employees can become disengaged from their job over time, and what was once a good fit is no longer motivating.
What are some tips for improving employee turnover?
Before you can improve employee turnover, you must identify the reasons behind the turnover. Based on the problem, you can implement any (or all) of the following strategies to improve employee retention. Here are some steps that you can take:
- Prioritise your recruitment strategy: The first step to a great company culture with low employee turnover is ensuring you are hiring the right employees for the job. Create accurate job descriptions and pay attention to your recruitment process.
- Invest in onboarding new staff: After you’ve hired the right candidates, they need to be trained properly. The first few weeks for new staff are key to whether they turn into long-term employees or leave as soon as they find an alternative.
- Elicit and respond to employee feedback: An important element of every successful business is great communication. Facilitate a company culture that thrives on open communication. Use meetings and employee surveys to gain insight into staff needs and concerns.
- Engage and recognise your team: It is important to make sure your current employees feel engaged, motivated and valued. Offer training and career advancement opportunities, and recognise employees for good performance.
- Regularly review pay and benefits: Although employee compensation partly depends on your company budget, review and modify employee benefits and salaries as often as you can. The longer an employee works for your company, the more they can hone their skills and expertise – they should be rewarded for that. Offering competitive pay and benefits can make employees feel appreciated and keep them from seeking employment elsewhere.
(Disclaimer: The opinions expressed in the article mentioned above are those of the author(s). They do not purport to reflect the opinions or views of ICS Career GPS or its staff.)
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