Executive Level Hires…
Posted on November 30th, 2009 by admin in Myatt on Mondays, Talent Management
By Mike Myatt, Chief Strategy Officer, N2growth
Today’s Myatt on Mondays question comes from the president of a technology firm who asks: “I don’t have the best track record when it comes to making executive level hires. Do you have any specific suggestions that might help?” Since I have written often on the subject of talent management, and have covered the basics of recruiting in previous posts, I’m going to share a few secrets that can help separate the great talent from those that simply interview well…
Today’s Myatt on Monday’s question comes from a CEO who asked: “Our employee turnover is higher than I would like it to be. If you had to point out one factor that drives employee churn, what would that be?” Few things in business are as costly and disruptive as having the proverbial revolving door for employees to exit from. Even worse is not knowing how to stop the door from turning. While an “employers job market” can certainly help slow the churn, it will not stop it. The harsh truth is that there are many secondary and tertiary items that can influence an employee’s decision to leave, in today’s post I’ll address the primary item; the one single factor that constitutes the overarching reason which drives a person’s decision to leave their employer.
Today’s Myatt on Monday’s question was posed by a CEO who asked: “Can you define the difference between vision and mission?” Let me begin by stating that it is always refreshing to me when executives check their ego and ask clarifying questions (a characteristic of great executives by the way). Over the years I have witnessed many an executive confuse vision and mission to the detriment of their organizations because they simply wouldn’t take the time to stop and understand the differences. In today’s post I’ll clearly explain the difference between vision and mission…
Family Business…a quote from Charles Dickens sums up my feelings about family businesses: “It was the best of times, it was the worst of times.” Oh what a conundrum…Family business; should I, or shouldn’t I? Today’s Myatt on Monday’s question comes from an entrepreneur who asks: “Should I involve family members in my business venture?” In my opinion there really isn’t a right or wrong answer to this question…it is simply a matter of personal preference. When family businesses work, there is nothing that can really compare to the benefits and upside afforded with such a structure. The problem is that they don’t always work…I have observed extremely successful family enterprises that strengthen relationships and flourish across generations, and I have also witnessed business ventures that were responsible for the total destruction of what were previously very close families. Whatever decision is made with respect to bringing family members into a business, it is a decision that should not be taken lightly. In today’s post I’ll share my thoughts on the topic of family businesses…
As the old saying goes, “The times they are a changing.” For those of you who are not regular readers of the Myatt on Mondays posts, Monday is the day that I often set aside to answer questions from readers. However in today’s post I’m going to switch things up a bit and ask you to answer a question posed by me. While I have given frequent counsel about how to successfully navigate the many challenges posed by these uncertain economic times, my question is this: “In the last 90 days what proactive changes have you made within your business which have placed you in a better position to survive the changing economic conditions that are presently vexing many a CEO?” In the text that follows I’ll give you a few places you might want to look at if you haven’t already…
Today’s Myatt on Monday’s question comes from a CEO who asks: ”what is the best way for me to synthesize the overwhelming amount incoming information I receive while making the best decisions possible in a timely fashion?” While I have written often on the subject of 
Today’s Myatt on Monday’s question comes from a board member who asks: ”Our current CEO is underperforming against expectations…How does the board know when it is time to transition the CEO?” While it is refreshing to hear a board member paying attention to CEO performance, the decision to replace a CEO not only requires a complex analysis, but the wrong decision will have far reaching consequences. In today’s post I’ll share my thoughts on the right reasons to transition the CEO…
“Can you provide any tips for modeling a winning compensation plan?” is today’s Myatt on Mondays question which was asked by a CFO of an Internet marketing company. While certainly a great question, I must admit that I have been reluctant to address the topic of compensation in previous posts as compensation theory is not only complex, but it often varies greatly based upon the situational realities of different workplace environments. That being said, there are definitely key elements which serve as the foundation for any well designed compensation plan which I’ll cover in today’s post…
Take it from a top CEO Coach…Blogging for CEOs is becoming a bigger issue with each passing day. Today’s Myatt on Mondays question comes from a CEO who asks: “I’m interested in Blogging, but my board doesn’t want me to Blog…is Blogging effective for CEOs?” The discussion over whether or not CEOs should Blog is not a new one. The stance of the risk adverse is that there is little to be gained, but much to be lost with regard to CEO Blogging initiatives. Proponents of CEO Blogging believe the Blogosphere provides the CEO with the ultimate platform to evangelize the corporate brand, and to effectively communicate across multiple constituencies. In today’s post I’ll share my thoughts on the current state of Blogging as well as my argument in support of CEO Blogging initiatives…
Today’s Myatt on Mondays question comes from an entrepreneur who asks: “What provisions can I place into a purchase and sale agreement to limit my post disposition liability when selling my business?” While there are virtually endless numbers of provisions that can be incorporated into a purchase and sale agreement it is important to remember that in most circumstances when a seller includes language that mitigates his/her risk that the buyer will want a corresponding price adjustment. That said, the reality is that all negotiated business points are just that; negotiated…they are dependant upon how badly a seller desires to dispose of the business, how sophisticated the buyer is and how motivated the buyer is to acquire the business. In today’s post I’ll share some of the more common indemnification provisions that can be used to manage a seller’s risk…