Tag Archives: improve productivity

How to Manage your Former Peers After a Promotion?

  By hmteam • August 5, 2016 , ,

Being promoted to a new leadership role is a definitely a good reason to celebrate. But it is also a transition that requires adapting to a new behaviour along with other changes, especially with your former peers. It is possible that a former peer may resent you for getting the promotion that he or she wanted so badly. It is also likely that these colleagues will feel some amount of frustration and animosity as they report to you. So how do you deal with the situation without stressing yourself out? Here are some tips. • Monitor your behaviour: It’s never too early to establish credibility with your colleagues at every corporate level, including your immediate peers. That will save you lots of trouble later on because people will know what to expect from you in terms of planning, decision-making, and communication. So rather than attempting a rapid change, focus on building a character of integrity and authenticity as soon as possible. Be consistent with your work ethics and management style. For instance, don’t believe that your ex-peers will ever forget a habit of long coffee breaks or nasty gossip sessions. • Establish authority carefully: While you certainly need to specify your new role to the peers who will now be reporting to you, be careful about how you convey the information. Your tone of voice, facial expression, and body language shouldn’t portray the ‘I’m cooler than you now’ attitude. Just let them know that things have changed and that they will now be reporting to you. If it is possible, ask your company corporate communications team or a relevant senior to make an official announcement on your behalf. That could make things smoother. • Redefine relationships with friends: Some people you work with may have become close friends whom you like to spend time with outside office hours too. To handle the delicate situation, have a one-on-one chat with him or her. Be honest about how the relationship will be changing. Talk about your new responsibilities, but let the friend share his or her thoughts on it too. For example, you could ask them what kind of changes they foresee in the way they work now. Make it clear that you are there to provide support and loyalty and hope for reciprocation. Most importantly, mention that you don’t believe in giving friends special treatment at work. • Learn to detach from the old: Earlier, your daily life in the office must have been different. Other people, having regular conversations of a particular nature, and more personal with these peers, surrounded you. In fact, you may have even spoken negatively about your boss whom you will work with more closely after the promotion. Don’t be rude. Don’t ignore them. Be there for them when they need you, in case of family emergencies or illness or the like, but keep it to important things and waste less time on small talk. It’ll be hard but necessary to help you fit into your new role. • Get to know your new peers: It’s time to get better acquainted with your new peer group. Go for a lunch or coffee. Ask intelligent, pertinent questions about the department and projects. If something is completely new to you, like end of year performance reviews, ask about those. Still, keep the tone casual and include light personal conversation too such as favourite sports or hobbies. Fortunately, top business schools recognise the need to highlight these leadership role changes in their curriculum. The Nanyang Fellows MBA offers a course on Transformative Leadership that teaches you to deal with obstacles in leadership roles such as this. Check out the full list of courses here: http://www.nanyangfellows.com/about-nanyang-fellows/programme-structure/ So look at the big picture and enjoy the transition – it’s a learning process!

Being promoted to a new leadership role is a definitely a good reason to celebrate. But it is also a transition that requires adapting to a new behaviour along with other changes, especially with your former peers. It is possible that a former peer may resent you for getting the promotion that he or she wanted so badly. It is also likely that these colleagues will feel some amount of frustration and animosity as they report to you. So how do you deal with the situation without stressing yourself out?

Here are some tips.

  • Monitor your behaviour:

It’s never too early to establish credibility with your colleagues at every corporate level, including your immediate peers. That will save you lots of trouble later on because people will know what to expect from you in terms of planning, decision-making, and communication. So rather than attempting a rapid change, focus on building a character of integrity and authenticity as soon as possible. Be consistent with your work ethics and management style. For instance, don’t believe that your ex-peers will ever forget a habit of long coffee breaks or nasty gossip sessions.

  • Establish authority carefully:

While you certainly need to specify your new role to the peers who will now be reporting to you, be careful about how you convey the information. Your tone of voice, facial expression, and body language shouldn’t portray the ‘I’m cooler than you now’ attitude. Just let them know that things have changed and that they will now be reporting to you. If it is possible, ask your company corporate communications team or a relevant senior to make an official announcement on your behalf. That could make things smoother.

  • Redefine relationships with friends:

Some people you work with may have become close friends whom you like to spend time with outside office hours too. To handle the delicate situation, have a one-on-one chat with him or her. Be honest about how the relationship will be changing. Talk about your new responsibilities, but let the friend share his or her thoughts on it too. For example, you could ask them what kind of changes they foresee in the way they work now. Make it clear that you are there to provide support and loyalty and hope for reciprocation. Most importantly, mention that you don’t believe in giving friends special treatment at work.

  • Learn to detach from the old:

Earlier, your daily life in the office must have been different. Other people, having regular conversations of a particular nature, and more personal with these peers, surrounded you. In fact, you may have even spoken negatively about your boss whom you will work with more closely after the promotion. Don’t be rude. Don’t ignore them. Be there for them when they need you, in case of family emergencies or illness or the like, but keep it to important things and waste less time on small talk. It’ll be hard but necessary to help you fit into your new role.

  • Get to know your new peers:

It’s time to get better acquainted with your new peer group. Go for a lunch or coffee. Ask intelligent, pertinent questions about the department and projects. If something is completely new to you, like end of year performance reviews, ask about those. Still, keep the tone casual and include light personal conversation too such as favourite sports or hobbies.

Fortunately, top business schools recognise the need to highlight these leadership role changes in their curriculum. The Nanyang Fellows MBA offers a course on Transformative Leadership that teaches you to deal with obstacles in leadership roles such as this.

Check out the full list of courses here: http://www.nanyangfellows.com/about-nanyang-fellows/programme-structure/

So look at the big picture and enjoy the transition – it’s a learning process!

From the Functional to the Managerial: Make the Transition

  By hmteam • August 3, 2016 , ,

From the Functional to the Managerial: Make the Transition

Contrary to the general assumption, making the shift from a technical or functional role to a general management role can be smooth with the right approach. While an MBA for experienced professionals like yourself can help prepare you for the transition, your success also depends on how you adapt to the leadership role.

Here are some pointers:

  • Create a positive culture of trust:

When you were in a functional area, your decisions affected your work and your immediate team usually. But in a managerial role, what you decide may not always appear to be in the best interest of each functional area in your organisation. This is because you’ll be considering the big picture. So, keep things fair and work on building a climate of trust with your employees. Let them know that you are ready to listen to inputs and constructive feedback and make sure you practice it too. On the other hand, if you notice that a worker is trying to ruin the work culture by creating conflicts in the team, take action before things get difficult.

  • Get out of your comfort zone:

Being in a managerial role requires you to prioritise every area of the business that you are looking after. You need to adapt quickly and be open to developing new perspectives – even if it is in the functional area earned you the promotion. That means that you cannot let your expertise cloud over reason and new trends. Don’t make assumptions based on your past. Go with the flow every time you get an opportunity to learn in your new position.

  • Redefine what value means to you:

Revenue is important for the business. Making an impact with each project or task used to be at the top of your priority list. Now, the correct approach is to look at the long term too. Pay attention to the long-term effects of your actions on the entire business. You need to emphasise on long-term success factors such as integrity, good work habits, and client relationship. Once your employees understand that, you are focused on the organisation-wide impact of everything that you and they do, they will be a lot more cooperative, and in turn, team efficiency will significantly improve.

Think about your customers:

During any decision-making, remember that business doesn’t exist without its customers. Competitive advantage is the key to surviving in your space, so you should address a customer-driven, efficiency-oriented strategy as you aim to gain and retain that competitive advantage. Revenue and customers go hand-in-hand.

  • Build and reinforce the team:

Even in the top ranks of a company, teamwork cannot be overlooked. As a manager, you are expected to promote an environment of mutual respect, ethics, and common goals. Are your employees communicating as well as you’d like them to? You need to be observant. A team that functions well is productive and is essential for the organisation’s success. Experts suggest holding team-building activities regularly – such as joint visits to charitable institutions or group sports.

So be willing to lead, open to new experiences and dedicated to value creation. Be ready to understand employees, while facilitating a healthy environment to achieve long-term goals. It is challenging but not impossible once you are armed with an elite MBA degree and all the skills and experiences that come with it.

See the entire list of benefits that you can expect if you attend the Nanyang Fellows MBA programme.

Top 10 Economics Blogs

  By hmteam • May 30, 2016

05_Top10_Economic_Blogs

Every business leader needs to stay up-to-date with the economics world. While academic journals on the subject are abundant, blogs have taken over. You’ll find top economists, academics and the like offering valuable analysis and arguments that you should be reading.

Here are some blogs you need to check out.

  1. Grasping Reality

This blog is called Grasping Reality. It is run by the well-known financial economist and economic historian Brad DeLong, who is associated with the University of California at Berkeley. He was one of the first bloggers in this field and combines the political-polemic style of Blogosphere 1.0 with many links to expand on his points.

  1. Paul Robin Krugman – The New York Times

Paul Robin Krugman is an American economist. In 2008, he was awarded the Nobel Memorial Prize in Economic Sciences for his contributions to New Trade Theory and New Economic Geography. He writes on a wide range of economic issues including international economics, macroeconomics, income distribution and taxation. Krugman considers himself a modern liberal and expresses strong political views as well.

  1. longandvariable

Tony Yates is a professor in the UK. Previously, he spent two decades working with the Bank of England. He has a reputation for witty commentary and being brutally honest whether it is aimed at market monetarist bloggers, heterodox economists or those opposing central banks. You’ll find lots on monetary policy and macro on the blog too.

  1. mainly micro

This blog by Simon Wren-Lewis is for both economists and non-economists. A professor of Economic Policy at Oxford University, he can keep you well informed with debates on macroeconomic methodology. His posts are long and detailed; so settle down with some coffee.

  1. A Fine Theorem

A Fine Theorem is a summary of economics research conducted by Kevin Bryan, an Assistant Professor of Strategy at the University of Toronto Rotman School of Management. His interests lie in the fields of innovation, micro theory and philosophy/methodology but his posts cover much more than that. For those of you who are research-oriented in your approach, this blog is perfect.

  1. Wall Street Journal

This Wall Street Journal blog keeps up with trends. You’ll find honest insights and analysis that you can relate to both everyday life and the industry. For example, one of the latest posts discusses how more young adults are living with their parents even though this isn’t a recession period.

  1. MISH’S Global Economic Trend Analysis

Although Mish Shedlock is an investment advisor based in the United States, he is an expert at getting the facts and stories from all over the globe. You’ll find everything from the French elections to the economics of Black Friday.

  1. Macro and Other Market Musings

David Beckworth is on the faculty at West Kentucky University (USA) and an adjunct scholar at the Cato Institute. He’s also a former economist at the US Department of Treasury. He has done research on the assessment of monetary policy, the transmission mechanisms through which it works and its impact on economies. When you follow his blog, you’ll find posts about most countries and continents.

  1. Freakonomics

You have probably read the book, Freakonomics: A Rogue Economist Explores the Hidden Side of Everything by Steven Levitt, an economist at the University of Chicago, and Stephen Dubner, a journalist. Well, the authors created a blog soon after to keep the conversation going that started with their book. This blog stands out for its cool news and fun way of looking at economics. You’ll find plenty of podcasts too.

  1. New Economic Perspectives

This website brings you multiple blogs in one. It offers policy advice and economic analysis contributed by a group of American economists, legal scholars, academics and financial market specialists. They created the blog to focus on the serious challenges facing the global economy after the financial crisis in 2007. You’ll find articles that elaborate on the causes of economic issues as well as suggestions for policymakers. It’s a great site to get many perspectives.

Take advantage of these great resources. The sphere of economics is a fascinating world.

Which are your must-visit blogs? Don’t forget to share your favourites in the comments below.

Time Management: How to Improve Your Productivity

  By hmteam • November 5, 2015 ,

Some people are running against the clock. But too much running can be crazy. You have to know how to pace your days to get the best out of yourself. And with changing responsibilities and new priorities, how you use your precious time is going to change. In fact, drastically. Not only will you have more to do, but every action of yours will also affect the company in big ways. Extraordinary leadership skills will come into play. You’ll also be juggling several projects with customer, employee and shareholder expectations. Sometimes you’ll need to change things to get the results that you desire. Time management is the key.

03_Time_Management

Here are some things that you should remember in order to achieve optimal productivity levels at work, always.

Live Life Beyond Work

Some people think that clocking long hours makes them extra productive. The truth is you don’t have to kill yourself to show how dedicated you are. Focus on what’s important to achieve your goals. Get it done. Go home. Interestingly, lots of studies have shown that working too many hours can be counterproductive. That means that your productivity will decrease. Imagine yourself struggling to keep your eyes open and your head straight after a long day of meetings and whatnot, with work that can be done tomorrow. Physical and mental strain can actually make you sick. And if you feel terrible in general, you will end up accomplishing little. So don’t forget to unwind, eat, exercise and spend time with your loved ones.

Have a No Interruptions Policy

You need to be selfish. If you aren’t getting work done because people keep on coming into your office or the phone keeps on ringing, you need to be more disciplined about your hours. There’s no excuse to stay stuck in the office at the end of the day, exhausted but still facing big responsibilities that should have been addressed during the day. Are you making yourself too available? Don’t be rude but have a screening system in place like keeping a specific block of time to take calls and answer emails. Keep things brief and to the point. And silence the endlessly chatty colleagues with a simple: What can I do for you?

Rank Your Priorities

Make a list of priorities and stick to it. Reflect on your daily activities, your personal goals and your organisation’s goals. Long-term goals should be on the list because each day is supposed to bring you closer to them. Focus on the important things first and push the less important items on your agenda to the bottom. You’ll feel stress free and accomplished as you tick off each item as it’s done. Use online software and apps to build and track your daily schedule.

Paying attention to time management will help you avoid last-minute leaps to finish projects, meaningless meetings and calls, and unproductive days at work. Bonus: The team you lead will benefit from your high productivity. They’ll know that you mean business and will try to follow your example. Don’t forget that we all have the same 24 hours!

Have a specific tip on time management and improving productivity that you’d like to share? Don’t forget to mention it in the comments below.