Blog

Category: Insights

The Secret to Entrepreneurial Employee Performance Reviews

Filed under: Insights, Leadership and Management, Professional Development, Solomon Page, Strategy, Success, Thought Leadership

Entrepreneurs create opportunities for their companies and people to grow.

For a forward-thinking leader, facilitating the development of their most valuable assets, talented people, allows each individual to realize their potential. They ensure that boundaries are minimized and innovative thinking is rewarded – no matter what the nature of the outcome. The most sustainable growth is born from creativity and calculated risk-taking, in conjunction with analysis and contemplation.

The non-linear nature of such growth means that it is hard to fit in a one-size-fits-all box.

When a professional journey is so fluid, it doesn’t fit well within a formal framework. Big corporations have long championed the quarterly and annual review process as a tool for continuous assessment and appraisal, but as it has to be suitable for a wide range of employees, it is often the case that something that is “good” for all is rarely “excellent” for any.

An entrepreneurial mindset within such a large organization would find such a cookie-cutter review process incredibly limiting. A more individualized approach is desirable.

At Solomon Page, our divisions have long enjoyed a significant degree of autonomy. One of our core values is agility, and mandating that each practice leader develop their teams following the exact same framework is counterproductive. A shared set of core values, combined with a flexible approach, guides our organizational growth strategy.

We try our best to take a page out of the entrepreneurial playbook.

One of the most important things to consider in an entrepreneurial review is to approach the conversation from the point of view of the employee and employer rather than just the employer. It is empowering to have an employee participate in their career growth and goal-setting, rather than having goals dictated for them. People commit when the fire comes from within and they hold themselves accountable. When you provide an employee with an opportunity to participate while leading them in the right direction, it is incredibly powerful and productive.

The second consideration is to ensure that performance is rewarded and acknowledged.

When you have such an approach where excellence is rewarded, it is important to encourage people to aim high. With this comes the probability of failure. An entrepreneurial culture should factor in this possibility in every developmental conversation. When failure is normalized in the decision-making process, it fosters an environment of healthy risk-taking and engagement. The review process should encourage people to aim high to reach their potential. Setting ambitious goals, and plotting a path towards them, is one of the most rewarding aspects of a manager / employee relationship, and builds a shared commitment to a unified set of objectives.

The employee review process becomes a staging post towards excellence.

Lloyd Solomon Featured in Real Estate REality Check Podcast

Filed under: ambition, Career Advice, Company News, Insights, Interviews, Professional Development, Solomon Page, Success, Thought Leadership

Lloyd Solomon, Managing Director of Solomon Page, was recently interviewed by Larry Haber in his podcast Leasing REality: Real Estate REality Check.

Larry conducts an ongoing series of weekly conversations with business executives designed to empower emerging and seasoned professionals to reach their full business potential. Using rock ‘n roll, hip hop, and pop culture analogies as the basis for many of his questions, the overwhelming majority of responses from his guests are informative, entertaining, and most importantly, a conduit to help incentivize listeners to become masters of their career and/or business domains.

Lloyd speaks to his journey building his business over the past 28 years, including the highs and lows, and prevalent lessons learned. He gives advice to business owners on how to lead a successful company and satisfied staff, in addition to providing insight to candidates looking to excel in their career.

You can listen to the podcast here.

Thought Leadership: Q1 2017 Marketing & Investor Relations Search Update

Filed under: Hiring, Insights, Thought Leadership

In the link below, please find our 2017 Q1 Thought Leadership piece, a reflection on the 2016 marketing landscape.

The intention of this paper is to summarize patterns witnessed throughout 2016 and forecast marketing and hiring trends for 2017.

Briefly, here is an excerpt…

  • Asset management experienced a rocky 2016, particularly for marketing hires. Due to record outflows of capital, uncertain markets over Brexit and the presidential election, and a lack of performance, it’s not unexpected that sales hires slowed dramatically.
  • As we see performance picking up again, and clarity around the political landscape, the firms who have strong marketers and well-packaged messaging will surely gain traction and exceed their peers, just as we’ve seen in prior cycles.
  • Private equity marketers are increasingly more expensive and they move a lot less, making the hiring market extremely competitive.
  • Hedge funds are constantly innovating and will always be hiring, whether it’s product growth or replacement. These firms tend to evolve quickly, as opposed to year over year.

Whether you or your company are seeking a recruitment partner to address your hiring needs, or you are looking for information on potential opportunities, we look forward to answering your questions.

Written by Alexis DuFresne

Click here to read the complete article >>

Thought Leadership: Marketing & Investor Relations Search Update

Filed under: Hiring, Insights, Societal Shifts, trends, Uncategorized

In the link below please find our Q4 Thought Leadership piece entitled Asset Management Marketing & Investor Relations; Hiring Insights for a Changing Landscape Yesterday, Today, and Tomorrow.

This paper is designed to update you on market movement, hiring insights, and the expansion of our Marketing & Investor Relations Search Practice here at Solomon Page.

Briefly, here is an excerpt from our Thought Leadership paper forecasting Q4 and 2017 hiring trends…

  • While the demand for client-facing professionals remains strong, we believe new marketing hires will be sector specific, as opposed to mass hiring, particularly systematic and private strategies.
  • There will likely be a continued decrease in consultant relations and product specialist roles, as firms will expect senior marketers to cover those responsibilities. Consultant relations and product specialist roles are expensive hires, and have the potential to be ultimately viewed as cost centers.
  • Junior and midlevel client-facing investor relations roles will continue to be a strong area for recruitment to support the senior hiring boom over the past two years, predominantly in credit.
  • Private strategies will likely become the focus in asset management recruiting for marketing roles, as the asset base is more stable, and investors are no longer shying away from locking up money.
  • Long/short equity hiring will make a comeback. There has been virtually no hiring in the space for the past 3 years, and turnover and retooling are inevitable.

Whether you and your company are seeking a recruitment partner to address your hiring needs, or you are looking for more color on potential opportunities, we look forward to answering your questions.

Written by Alexis DuFresne

Click here to read the complete article >>

WHY ARE WE ALL SO AFRAID TO TALK ABOUT OUR MISTAKES?

Filed under: Career Advice, Insights, Women Leaders

WHEN I WAS 14, I MARCHED INTO THE HOUSE WITH MY REPORT CARD, TOSSED IT IN FRONT OF MY DAD, AND WAITED FOR HIM TO GASP AT THE PERFECT GRADE COLUMN: A, A, A, A, A, A, A.
But after a silent speed read, my dad glanced up and said:
“Hey! Kit, this is great! But maybe next semester, let yourself get a C in something.”
I’ve always been a perfectionist. Like a Type A, anxiety-prone, neurotic mess when things don’t go my way, nut job perfectionist. If you’re reading this site, chances are you’re something of one, too. Maybe the thought of screwing up at work can keep you from sleeping at night or a performance review with any semblance of constructive criticism makes your stomach churn. Or maybe the idea of an off-center Instagram post can ruin your week.
Mistakes, right? Nothing like making one to ruin a perfectly good day. So we do our best to never let them happen.

Click here to read the rest on Career Contessa >>

18 Signs of High Emotional Intelligence

Filed under: Cognitive Ability, Insights, Psychology, Relationships, Self Reflection

When emotional intelligence (EQ) first appeared to the masses, it served as the missing link in a peculiar finding: people with average IQs outperform those with the highest IQs 70 per cent of the time. This anomaly threw a massive wrench into the broadly held assumption that IQ was the sole source of success.

Decades of research now point to emotional intelligence as being the critical factor that sets star performers apart from the rest of the pack. The connection is so strong that 90 per cent of top performers have high emotional intelligence.

Emotional intelligence is the “something” in each of us that is a bit intangible. It affects how we manage behavior, navigate social complexities, and make personal decisions to achieve positive results.

Despite the significance of EQ, its intangible nature makes it very difficult to know how much you have and what you can do to improve if you’re lacking. You can always take a scientifically validated test, such as the one that comes with the Emotional Intelligence 2.0 book.

Click here to read the rest on Core Spirit >>

Your Comfort Zone Is Killing Your Success

Filed under: Best Advice, Insights, Success, Your Career

Applying for jobs just out of college or grad school, comfort may have seemed like the ultimate goal: to find the perfect job that was a natural fit and have a long, fulfilling career there.

Forget all of that: comfort is the enemy. If things are easy, it’s time to shake up your career.

Remember when you were young, and you first attempted to write a bicycle? Were you scared at first? Absolutely. Was the end result worth it? I’m betting it was.

Hopping into a new job or career path is indeed a lot like that first ride on a bike: a heart-pumping, adrenaline-inducing risk– and the payoffs can be as meaningful as the life-changing freedom of mastering two wheels.

Getting out of your comfort zone is a must if you want to achieve extraordinary success. I like to think of it as a shift into your “strength zone”: identify, highlight and hone in on what makes you unique and lean into it so you stand out.

Click here to read the rest on Entrepreneur >>