Blog

Category: Thought Leadership

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.

Market Insights Report: 2018 Job Satisfaction Survey and Salary Analysis

Filed under: Career Advice, Job Market, Research, Strategy, Thought Leadership

The Solomon Page Market Insights Report: 2018 Job Satisfaction Survey and Salary Analysis is now available for download. Get your copy here.

This is the inaugural study of this scope for Solomon Page—and we are very proud to be sharing it with you. Solomon Page has been a leader in staffing and executive search since our inception in 1990, and we continually strive to raise the bar and add value for both our candidates and clients. For job seekers, this study will provide insight into how you rank versus your peers in both job satisfaction and compensation. For companies, you will learn what makes a job offer attractive, and key factors in the retention, growth, and satisfaction of your workforce.

As we set out on our mission to produce this study, we partnered with Inavero, a market research firm specializing in the staffing industry, to conduct research and analysis on relevant trends for both candidates and clients in today’s employment market. We gathered close to 1000 responses from a cross-section of junior-, mid-, and senior-level employees.

The methodology of the study was to evaluate the lifecycle of a job search and analyze findings throughout each stage of the process: search drivers, the offer, retention, and contemplating a change. We have coupled this with market sentiment and perceptions of temporary vs. full-time work to create the Market Insights Report Part One: Job Satisfaction Survey. We then gathered and analyzed current information from the Solomon Page database to compile Part Two: Salary Analysis.

Our findings suggest a positive perception of the current job market, and that this optimism will most likely increase in the three years to come. Considering that the unemployment rate is the lowest it has been in 18 years, we are not surprised. More intriguing findings include the fact that training / continuing education ranks as the most impactful engagement factor, and that company culture and work / life balance have the largest impact on retention and satisfaction.

We hope this report helps you gain insight and perspective while you strive to achieve your job search or hiring goals.

Q2 2017 Thought Leadership – What Makes a Good Marketer and Why You Need One

Filed under: Finance and Banking, Marketing, Thought Leadership

WHAT MAKES A GOOD MARKETER AND WHY YOU NEED ONE
An Exclusive Interview with Hedge Fund Executives

Written by: Alexis DuFresne, Managing Director, Marketing & Investor Relations Search
Solomon Page, Financial Services Division


My professional career has been dedicated to the success of marketing and investor relations functions within asset management. I spent a great deal of time and passion educating managers on the roles of marketing and investor relations, as well as creating a case for successful hires. During the course of my conversations with prospective clients, the most frequent question I receive is, “Why should I invest in marketing hires?”

To get to the root of this question, I asked three industry leaders to provide commentary from their prospective: a hedge fund manager, an allocator, and an asset management COO/marketer.

  • Michael Vranos, CEO and Founder of Ellington Management Group, a $6.5bln AUM hedge fund, spoke to me about how he thinks about his marketing team and their responsibilities. Having been in the game for over 20 years, and a widely regarded industry legend, he has seen the evolution and importance of marketing.
  • Chris Cutler, Senior Hedge Fund Due Diligence Analyst and Founder of Manager Analysis Services, spends a significant amount of his time speaking with marketers who solicit his allocation. His feedback on what resonates with him when he meets marketers is truly valuable.
  • Alex de Calice, Founding Partner, COO, and Head of Marketing at Nara Capital, added his view on the challenges marketers face on the front lines. He is a top marketing professional and management executive who has built and managed marketing teams.

The major takeaways were clear; marketing is an essential part of an asset management organization, and the role is constantly evolving. All commentators agreed that it has become increasingly harder to attract assets, and therefore the bar for marketers has been raised.

Continue reading the full article here >> 

SHIFT: The Future of Human Capital

Filed under: innovation, Thought Leadership

With all the technological advancements and shifts in work environments over recent years, it becomes hard not to wonder what the future of work will look like. Will you sit in an office surrounded by colleagues, and if you do what will inter-office communication look like and how will it be monitored?

The Human Resources division of Solomon Page sought to provide insight to some of these questions in a recent speaker series we hosted on March 23rd. The event, SHIFT: The Future of Human Capital, dove into the effect of People Analytics, Data, and Technology on the future of work itself.

For this intimate gathering, we assembled a panel of experts to reveal what these advancements mean for organizations and human resources professionals today and advise on best practices for how to prepare for the not-so-distant future. Moderated by Vivian Garcia-Tunon, Founder of VGT Consulting Group, the panel included Stela Lupushor, Founder of Reframe.Work, and Dave Winsborough, Vice President of Innovation at HoganX.

Companies are currently leaning on analytics and reporting to provide insight on their team members and employee interactions in ways that to many may seem too “futuristic” to be plausible. Through advanced algorithms and reporting mechanisms, organizations can interpret employee behavioral patterns to predict signals of distress before conflicts arise. Therein allowing leadership time to devise a plan of attack to either address or resolve conflicts before any potential damage ensues.

While it may not be realistic to think that within the next couple of years all organizations will operate with high-functioning data and analytics capabilities (such as, tracking employee behavioral reaction through sensors), Lupushor and Winsborough divulged practical implementations that those of us working on less “futuristic” levels can incorporate into our daily lives.

Their advice: “keep it simple.” By taking a step back and evaluating the tools you are currently working with, you may be surprised to learn just how innovative their algorithms and reporting capabilities are. Take LinkedIn for example, a resource we all have access to. Through their advanced search options, you can construct an extremely targeted search to uncover individuals you may never have found otherwise, and then follow the progression of their career to pinpoint the best time to approach them for a career move.

With a rise of many consulting firms offering the secret of how to catch employees before they decide to leave your company, the notion to outsource similar employee tracking can be tempting. However, history shows that trends come and go, and our experts suggest the same. Rather than being swayed by something that appears “bright and shiny,” you can often uncover the answers yourself, if you ask the right questions.

So, while the future may not be quite as far away as we all think, it does not need to have ultramodern bells and whistles on it to be effective. With the information gained and advice imparted from Shift, no matter your degree of access to high-tech equipment each of us can incorporate the ideas behind the use of people analytics, data, and technology to inform us of trends in our workspace that we may not have recognized otherwise.

For more information on how you can best equip yourself and your team for this not-so-distant future, get in touch with our Human Resources division at humanresources@solomonpage.com.

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 >>