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 >> 

8 Habits of Highly Accountable People

Filed under: accountability, Career Advice, Good Habits, Insights

It’s a common story. You end a strategic meeting. There are several initiatives on which everyone agrees are important to complete by the end of the quarter. Everyone at the table says they will contribute to get it all done, but when the end of the quarter arrives very little of the list actually got accomplished. It’s not that these were bad people or that they didn’t work hard. In fact they were likely all highly responsible members of the team. The problem was that no one was actually accountable for making sure the initiatives were complete.

Many struggle with the definition of accountability versus responsibility. The difference is simple. Many people can be responsible for helping out on a task or initiative. But accountability belongs only to one person who will be judged on the completion of the project.

Truly accountable people are very hard to find. Accountability comes from within. It is not something you are given, you have to choose it to own it. Here are 8 of the many habits accountable people choose to make part of their everyday life.

Click here to read the rest on Inc. >>

Become an Effective Problem Solver: Learn to Listen Better

Filed under: Best Advice, Career Advice, Insights, Quick Tips

The art of being a good listener can make you more likable and effective in the workplace. Too often people think that leadership and confidence are tied to directing conversations and taking command. Research on effective leaders shows the opposite is true. Great leaders are empathetic towards others and display finesse in harnessing others’ strengths. Knowing when to voice your views and when to hold back is an art and it requires the listener to have empathy.

Good Listening is tied to good problem solving

When you allow others to talk, you could begin to appreciate new ways of thinking. Considering different points of view could help you and your team think more broadly and critically about things to come up with better, more innovative solutions. If you want to become more effective in tackling problems at work, it pays to listen with more empathy.

Let go of the need to constantly express yourself

Research shows that active listening combined with empathy or trying to understand the others’ perspective is the most effective form of listening. If you’re always worrying about what you’ll say next in defense or rebuttal or you’re talking to much and forget what the other person said, it may hurt your  ability to interpret issues and create consensus with others. Active listeners don’t just hear words, they seek to understand what the other is saying so they can be helpful.

Click here to read the rest on Personal Branding Blog >>

 

5 Ways to Get Recognized as an Outstanding Employee

Filed under: Career Advice, Insights, Quick Tips, Your Career

If you think about the best employees at your company, what qualities do they have? Sure, being a valuable employee involves being intelligent, reliable, and competent, but it’s about so much more than that.

Many people don’t realize that work success is often a reflection of your character traits. For example, if you’re unselfish, passionate, and enthusiastic, chances are you are the kind of person most people want to work with. Those qualities translate to success regardless of your industry.

“There was a time when success was measured by the title you held at work, the size of your home, or the make of your car,” explains Sheryl Connelly, global consumer trends expert. “But it seems society has been moving away from these traditional markers of success and making way for much more individual expressions of success.”

Here are five ways to be a better employee — and ultimately, to get more recognition:

Click here to read the rest on Inc. >>