ISSUE 39 The Voice of Leadership

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2 VOICES ON... The World’s Best Coaching Leadership ‘Trees’ Why organizations need a new breed of “ self-disruptive ” executives. THINK ABOUT THIS: 10 Hundreds of the country’s top Productivity HR executives Studies suggest new approaches to work hours worked for one of may achieve peak performance. two guys. HOW NAKED 12 36 Technology AND TRANSPARENT The robots are coming—but at least in “ Europe, people are resisting. 14 WILL COMPANIES History How one employee brought down The a 233-year-old bank. AND THEIR 16 Millennial Managers EMPLOYEES Are Here Simon Constable

The Global Generation Yers BECOME? Economy are leading Why every industry is people now—and AND AT WHAT adopting Silicon Valley’s many organizations “ fail fast ” mentality.18 aren’t preparing them for it. COST? ” 42 Christine Rivers Healthcare

A quarter of the firms that keep you healthy don’t have succession plans to maintain their own well-being. 20

Daniel Goleman Let There On Purpose Cover Story 26 Be Light Having trouble finding your INVASION OF THE purpose? There’s some brain Companies are science that may help. 22 waking up to the EXTREMELY ONLINE critical role of office lighting. The digital natives are coming— But what happens with a new form of totally transparent + DOWNTIME when we work communication. Can companies use it? Interests Outside the Office from home?50 Starts on page 59 Top right:Top Sean Hazen Photography

4 5 Korn Ferry Briefings The Voice of Leadership

Over the years, ON I’ve noticed how hustle LEADERSHIP “Working in Washington, DC, at a ‘think tank,’ and hunger quash I was asked by my boss to write a press release. My boss held up the release, crumpled it up, pedigree every time. threw it at me, and fired me (along with two Gary Burnison others). I learned to accept failure, and to Chief Executive Officer, Korn Ferry learn from it. I later became the press secretary “My first job as a nurse in a geriatric ward was at the US Treasury Department.” —G.F. a lesson in humanity and humility. Nursing stood me in good stead as I went on to [get] a fine arts degree, become a public gallery director, run a community radio station, and ended up leading smallish not-for-profit environmental NGOs in rural Australia.” —D.C.

Humility is a lesson best learned early in your career, before you’ve risen too far so the fall back to reality isn’t such a drop. When I finished mov- My First Job ing boxes, I was given a phone book and a 10-key calculator and told to add the rows of phone num- bers to sharpen my 10-key skills. It was ridiculous here was no Instagram, YouTube, or Snapchat to mark that day— busy work, but I did it without complaint, because that’s what I was asked to do. (and drinking) a cup of coffee from a dirty mug and the only “selfie” was trying to aim a disposable camera in the general I also noticed that certain people at the con- he pulled straight out of the sink. But I got the job T sulting firm stood out because they just “did it.” done—ahead of time and with a thoroughness direction of my own face. But the image is burned into my memory: It was They had “hustle.” that earned kudos from my boss. Most important, September 4, 1984, and there I was in my Brooks Brothers suit and my shiny new All my young life, I hustled: delivering newspa- I earned the respect of that warehouse manager wingtips, carrying the hard-sided leather briefcase I’d just bought. pers, painting houses, working construction—you who saw that I wasn’t just another college grad name it. It wasn’t that we were poor; it’s just that who wouldn’t get his hands dirty. As a graduate of the University of Southern be gone—and even more within four years. Only one we didn’t have any money. There is something Over the years, I’ve noticed how hustle and California and having passed the CPA exam, I was or maybe two of us would ever make partner. about seeing, as a kid, all the furniture being hunger quash pedigree every time. It’s been fortunate enough to receive several job offers from Although we obviously didn’t have webcams to repossessed and taken from the house that chills shown that people who have to scramble in their accounting and consulting firms. I walked through record every moment as in today’s growing wave of your bones. That image reminds me daily of where careers not only do well (and often better than the heavy oak door of Peat Marwick Mitchell “total transparency,” I knew others were watching I came from and, more important, who I am. their pedigreed peers), they learn from their (today’s KPMG) like I’d arrived—until I met all the me (and everyone else)—what I was doing and how My first real assignment at KPMG was doing failures and end up in a career others. There were 125 of us in that year’s class of I was doing it. It was all about being accountable. inventory in a cavernous warehouse. My trial by that yields greater satisfaction. FIRST JOB new hires, in the Los Angeles office alone. Then came the instructions for our first assign- fire from the warehouse manager was accepting A recent Korn Ferry survey found STORIES... The picture in my ment. We were moving that 83 percent of executives say, As I’ve shared my first job, mind changed instantly. boxes. I heard grumbling when hiring a college graduate, others have responded with There wasn’t anything and complaints from hunger and hustle are more desir- their own stories. Please share your story with us at special about me. “My first job, I was hired by a local veterinary others. And I’ll admit “My first job in high school was in a Southern able than pedigree, the caliber of [email protected] Everyone in that room clinic as an intern, and most of my job for the this was not what I’d California In-N-Out burger. Hustle was learned the institution they attended. was smart—that was first three months entailed being lead poop expected. But I did what because the line of customers never ended. The two Hs have served me just the table stakes to scooper. It gave me a lesson in humility and I was asked, and in the Humility was learned because the first thing they well over the years. Flash-forward nine years get hired. Then they hard work, and I am forever grateful.” —J.W. process, I learned two key teach you is how to take out the trash, jump on after that first job, I was among a few people the dumpster, and peel all the potatoes.” —I.S. gave us the speech: principles: humility and from my class at the firm who made partner. Within two years, hustle. That’s what this Flash-forward 23 years to 2007, I became CEO 50 percent of us would first job story is all about. of Korn Ferry.

6 7 proven advice from the new york times best-selling author & ceo of korn ferry “A MAJORITY OF INVESTORS ALMOST EVERYONE GETS IT WRONG. BELIEVE THIS IS HOW YOU CAN GET IT RIGHT. TODAY’S CORPORATE LoseTheResume.com CHIEFS ARE ‘UNFIT’ FOR now available THE FUTURE.”

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Leadership Productivity Technology page 10 page 12 page 14 Dennis Baltzley Evelyn Orr Werner Penk Global Solution Leader, Chief Operating Officer, President, Global Technology Leadership Development Korn Ferry Institute Practice VOICES ON... Korn Ferry Briefings The Voice of Leadership LEADERSHIP

Leadership Gone once seemed secure have been removed because leaders are highly learning agile, self-aware, emo- of an inability to successfully navigate today’s tionally and socially intelligent, purpose-driven, challenges. But Korn Ferry’s study suggests such and assured but humble,” says Jean-Marc Laouchez, (Way) Wrong? changes at the top are going to accelerate rapidly in president of the Korn Ferry Institute. the next few years. According to the study, these leaders can “For the last hundred years, leaders have been anticipate and even create new trends, and rather Eight in 10 corporate leaders are getting failing taught that control, consistency, and closure are than react, they help shape the future. Directing marks from their own investors. Is a new breed of the principles of business leadership. But dramatic is out and listening is in—as is the ability to drive changes to the global business environment mean organizations through “self-disruptive” leaders the answer? that this is no longer a reliable blueprint,” says The Takeaway disruption, while manag- Dennis Baltzley, Korn Ferry’s global solution leader ing anxieties and stress. for leadership development and co-author of the Companies Fueled by purpose, self- BY RUSSELL PEARLMAN new report, The Self-Disruptive Leader. jeopardize disruptive leaders inspire The study argues that today’s disruptive their future if trust and can articulate forces in technology, globalization, demographics, leadership isn't compelling messages to HESE DAYS, self-disruptive. tens of millions of people and consumer behavior are exposing the limita- inspire others. around the world think politicians are tions of traditional leadership worldwide. The No one region has doing a lousy job preparing their nations push for strong healthcare services, cleaner energy a monopoly on self- T for the future. From United States govern- sources, instantly delivered goods, self-driving disruptive leadership, but the study found that some ment shutdowns and Brexit-related discord vehicles, and so on assure that no industry has countries are ahead of others in developing them. to discontent about the economy across Europe been spared upheaval. French and German leaders, collectively, are stronger and election turmoil in Thailand, there are plenty But investors large and small are also behind at accelerating change than their global counter- of reasons why people might not think their gov- the drive for new leadership, with many looking parts, for example. As for improving, US executives ernment officials are up to the task. for more profitable growth that translates into need to be better at developing partnerships, the But while public-sector strife is making all higher stock returns. Indeed, that group is already study finds, while in China, leaders should work to the headlines, it turns out that there may be an pessimistic. Two-thirds of them, according to a up their abilities to anticipate change. For Japanese equally risky situation developing among corporate separate Korn Ferry survey, leaders, building trust is the leadership ranks. According to an extensive new say that today’s private- THE ONUS IS NOW ON biggest need. Korn Ferry analysis, only 15 percent of leaders have sector leadership is “unfit” The good news, experts say, what it takes be successful in the rapidly chang- for the future. That isn’t just CURRENT EXECUTIVES is that many potential self- ing business world. The firm, which analyzed an American sentiment, TO DEVELOP YOUNGER, disruptive leaders are already more than 150,000 profiles of leaders and either. Indeed, more than LESS EXPERIENCED working in organizations, managers worldwide, says that a majority 80 percent of investors in soaking up the experiences of them can’t fully harness the collective China and Japan feel today’s EMPLOYEES. and wisdom they will need to energy and knowledge required to lead leaders aren’t ready. lead in the future. The onus is the organization of the future. Addressing the issue, now on current executives to To some degree, this gap—and researchers for the Korn Ferry Institute have helped develop those younger, less experienced employees. the call for what the report build up a new model of leadership, identifying five “Moving candidates around between teams and describes as “self-disruptive dimensions that high-performing, self-disruptive divisions will be key,” says Ilene Gochman, Korn leaders”—has been years leaders have in common. To be sure, future leaders Ferry’s global solution leader for assessment and in the making. At some must harness the power of technology, embrace succession. Forcing younger managers from all of the world’s most ambiguity, and empower employees. But the model backgrounds to constantly adapt to meet new esteemed firms, also highlights the importance of leaders who challenges and build new skills can develop in them CEOs whose legacies can easily create opportunities for everyone and the mindset and temperament they will need to manage innovation. “At their core, self-disruptive become self-disruptive leaders.

10 11 VOICES ON... Korn Ferry Briefings The Voice of Leadership PRODUCTIVITY

Average Weekly Work Hours of Full-Time US Workers

60+ HRS 50 – 59 HRS 41– 49 HRS 40 HRS < 40 HRS

Source: Gallup, 2013 and 2014

to put in, what times of day to train, and the delicate Japan studied the impacts of shorter versus longer art of active recovery. Meanwhile, coaches and workweeks on the cognitive function of more than trainers are ceaselessly tweaking those schedules to 6,000 men and women. They found a 25-hour work- yield just a tiny bit more productivity. week led to peak performance. Putting in more than This degree of scientific rigor hasn’t quite 55 hours a week and not working at all were most reached the corporate world—in some cases for detrimental to cognitive ability. good reason. After all, the traditional 9-to-5 work- If performance isn’t incentive enough, flexible day is surely a necessity at many firms, such as scheduling is an increasingly valuable negotiat- those that must match key production deadlines ing chip. In fact, or find agreement among thousands. But as Laura says Vanderkam, Vanderkam, author of Off the Clock: Feel Less Busy The Takeaway “younger workers When Less May Be More While Getting More Done, puts it, “Forcing people view flexibility as the into the same mold is convenient, but it’s not get- Organizations opening bid.” That’s ting the best work out of people.” won’t collapse hardly anything for Studies suggest that new approaches to work hours What’s more, there are industries that believe experimenting companies trying to may achieve peak performance. longer hours are the way to stay ahead in the global with different retain talent in an age workweek hours. economy. Indeed, some technology companies in of record low unem- BY MEGHAN WALSH Asia have recently endorsed the so-called “996” ployment to ignore, system—working 9 a.m. to 9 p.m., six days a week. says Evelyn Orr, chief Still, numerous studies have suggested that operating officer of the OW THIS IS THE LIFE. For two months, a old as … the workweek. But the idea is being toyed knowledge workers—those who rely primarily Korn Ferry Institute. Forcing employees to work at financial services firm cut its workweek to four with at a smattering of firms as far as Sweden and on cognitive capacity—are really only productive set times on set days could ultimately hurt the bot- eight-hour days but paid for five days—and Germany—and even trickling over to America, for about three hours a day. As time stacks up, tom line. “The limiting factor for growth is talent,” Ninvited university researchers to study the impact home of the free yet notoriously overworked. For output plummets and errors multiply. When we’re she says. on performance. Very quickly, the results became six months out of the year, tech company Basecamp burned out, writes performance psychology expert When Congress held hearings in the late 1800s clear: workers showed up on time and creativity sanctions a 32-hour workweek, while outdoor gear K. Anders Ericsson in his book Peak: Secrets from about proposed restrictions to work hours, employ- burgeoned. Productivity rose 20 percent. The policy retailer Patagonia gives workers every other Friday the New Science of Expertise, is when bad habits ers used words like disastrous and catastrophic. became permanent. off and the freedom to set their own hours. Amazon creep in. People gossip, surf social media, look for Yet the economy didn’t plummet with the 10-hour To many, it may sound too good to be true— is exploring shorter shifts, too. new jobs. Cutting hours but not expectations forces workday. “The first effect is labor costs are going except it was a reality last summer for the staff Interestingly, the sports world is providing some employees to account for their time, eliminate to go down,” says John Pencavel, a labor econom- of 240 at the New Zealand-based firm Perpetual of the best evidence that these types of changes distractions, and create good work habits. The more ics professor at Stanford University and author of Guardian, spurring a buzz of headlines and at least may help. Professional athletes have their training time they spend away from the screen, the more Diminishing Returns at Work: The Consequences of some uncomfortableness for managers elsewhere schedules down to a science—literally. Through focused they are the next day. As any athlete will Long Working Hours. “Maybe output will fall pre- whose employees saw the news. exhaustive, sport-specific trial and error, experts testify, recovery is as essential as effort. cipitously, but in that case then go back to a longer Of course, debates over workweek hours are as have identified exactly how many hours of practice In 2016, a team of researchers from Australia and workweek. Why not experiment?”

12 13 VOICES ON... Korn Ferry Briefings The Voice of Leadership TECHNOLOGY

Finland

Increased Changing Attitudes Decreased slightly Toward AI Decreased moderately Sweden Estonia 2012–2017 Decreased considerably Decreased significantly

Latvia *Based on analysis by Korn Ferry Be Afraid, Denmark Lithuania

Ireland Be Very Afraid Netherlands Poland United Kingdom Malta Cypress Germany The robots are coming—but at least in Europe, people are Belgium

Luxembourg Czechia resisting. Does the continent need to catch up? Slovakia

BY ANNAMARYA SCACCIA Austria Hungary Romania France

PECTACLES IN THE 1200S. Machine tools purpose, according to a recent study from the Italy

in the 1700s. Camera phones in the 1990s. Leibniz Institute for Educational Trajectories and Bulgaria Whatever the technological advancement was, the University of Würzburg. Indeed, between SEuropeans had a reputation of embracing it. But 2012 and 2017, people in 24 of the 27 European some experts are worried that the continent has countries surveyed became either less comfort- Portugal Spain become resistant to a critical innovation: robots. able or more hostile toward robots and AI. Greece Or “robotic systems,” actually, which include That isn’t good news, of course, given the both those familiar steel-skeleton objects and sizable sums companies are pouring into tech. various other forms of artificial intelligence. Asked But it doesn’t surprise Werner Penk, president to rate their view of the technology, Europeans of Korn Ferry’s Global Technology practice. He expressed growing discomfort no matter what its says the results reflect how Europe continues to fall behind techno- logically compared to countries, including France and Greece, skewed uncomfortable” and 9 being “totally comfortable.” The Takeaway neighboring regions much more negative. The only places where atti- What they’ve found is that attitudes toward robots Many workers are and the United tudes about robots and AI improved were in Italy, assisting at work dropped from a mean score of still not prepared States, because it is Portugal, and Malta. about 5 in 2012 to around 4 in 2017. That’s roughly for the influx of stymied by employ- A disparity among resources, stable economies, a 20 percent decrease over a five-year span. robots and AI. ment anxieties. and access to education may explain this division, Will attitudes change? Experts say the best “There is fear against Penk says. “Northern parts of Europe are much hope will come from corporate leadership, be it in the new dimension richer and more advanced than the southern parts,” Europe or elsewhere. Although robots can replace of digitization, he explains. So where northern Europeans may see many menial jobs, studies have shown that they including robotic systems,” Penk says. “We’re not opportunities in innovation and robotic systems, also may create more interesting work for others winning the future.” southern Europeans see risk. “It translates into fear relieved of duties. What’s more, AI in general To be sure, there are some clear regional of automation, of losing jobs,” Penk says. will always need humans as partners. “Leaders divides despite the overall hand-wringing. The Regional differences aside, concerns over artificial can’t just expect to incorporate AI and robots into study found that northern European countries intelligence in the workplace have caused the most their lines of business and not expect resistance, tend to view robots more favorably, although discomfort among all Europeans, according to the says Guangrong Dai, senior director of research even digital-embracing nations, such as Denmark German study. Researchers surveyed more than at the Korn Ferry Institute. “It becomes the lead- and Sweden, saw their comfort levels fall. At the 80,000 EU residents and asked them to rate their ers’ responsibility to manage all of this anxiety same time, opinions among southern European attitudes on a nine-point scale, with 0 being “totally employees are facing today.”

14 15 VOICES ON... Korn Ferry Briefings The Voice of Leadership HISTORY

Baring, a British-born member of the famed Ger- January 17, 1995, the devastating earthquake in Barings Bank Disaster man family of merchants and bankers. Barings Kobe sent the Nikkei tumbling, and Leeson’s losses was England’s oldest merchant bank; it financed reached £827 million, more than the entire capital the Napoleonic Wars and the Louisiana Purchase, and reserve funds of the bank. A young rogue trader brings down a 232-year-old bank. and helped finance the United States government Leeson and his wife fled Singapore, trying to “I’m sorry,” he says. during the War of 1812. At its peak, it was a global get back to London, and made it as far as Frankfurt financial institution with a powerful influence on airport, where he was arrested. He fought extradi- the world’s economy. tion back to Singapore for nine months but was BY GLENN RIFKIN Leeson, who grew up in the middle-class eventually returned, tried, and found guilty. He was London suburb of Watford, began his career in sentenced to six years in prison and served more the mid-1980s as a clerk with Coutts, the royal than four years. His wife divorced him, and he was bank, followed by a succession of jobs at other diagnosed with colon cancer while in prison, which banks, before landing at Barings. Ambitious and got him released early. He survived treatment and aggressive, he was quickly promoted settled in Galway, Ireland. In the past to the trading floor, and in 1992 he was “WE WERE 24 years, Leeson remarried and had two appointed manager of a new operation sons. Rogue Trader, a best seller in the in futures markets on the Singapore ALL DRIVEN United Kingdom, was made into a major Monetary Exchange (SIMEX). He was TO MAKE motion picture starring Ewan McGregor placed in charge of both the trading floor as Leeson. He made money from the and transaction settlement operations, PROFITS, movie rights and from serializing the book which allowed unusual autonomy and an PROFITS, in a newspaper, and these days he earns a ability to hide troubling news from the AND MORE moderate living as a dinner speaker. home office. In a 2015 remembrance for the Irish Early on, he made millions for Barings PROFITS.” news website The Journal, Leeson wrote: with bets on the Nikkei Index in Japan, “It is impossible to distance myself and his profits delighted his bosses back from the embarrassment that still is the in London. He was earning a salary of £50,000 with overriding memory of that period. I wanted to be a £150,000 bonus, bought a yacht, and lived in an successful but will always be remembered for my T WAS A STORY SO ASTOUNDING that high-risk bets on share movements with little or no expensive apartment with his young wife, Lisa, a biggest failure.” even a Hollywood producer might find it too corporate oversight, followed by the bank’s financial colleague at Barings. According to Professor Mike Power, who teaches far-fetched. A venerable 200-year-old mer- collapse, an international manhunt, and ultimately a But there was trouble in paradise as Leeson corporate governance and risk management at the chant bank in England, which counts the Queen long prison sentence for Leeson. Barings, which could began to incur losses, which he stashed in the London School of Economics, Leeson was an “arche- of England among its clients, is forced into not recover from the $1.6 billion in losses Leeson now infamous 88888 error account, hidden from type for all that was wrong in the financial services bankruptcy due to the illegal activities of a lone incurred, was sold to the Dutch investment firm ING his bosses. Rather than owning up to his growing arena in the 1980s.” In fact, he adds, despite the 28-year-old rogue trader operating out of its Sin- for the nominal amount of £1, and shareholders were failures, Leeson continued to double down, trying to perception that Leeson’s motivation was “unfet- gapore office. This seemingly could never happen, left holding the bag. The fallout continued as 1,200 extricate himself from his mess with bigger bets. In tered greed,” Leeson’s travails were less about greed and an audience would scoff at the plausibility of employees in the Singapore office lost their jobs. As Rogue Trader, his autobiography, Leeson said he was than about making some terrible calls and trying to it all. Except that it did. And, yes, it even became a he fled Singapore in February 1995, Leeson left a pushed by internal pressure at the bank. “We were cover up his failures. “This is a classic case of hubris, big-budget movie. simple note on his desk: “I’m sorry.” all driven to make profits, profits, and more profits…. both of Leeson himself, who was a superstar until In March 1995, Barings Bank, at 232 years old This is a story of hubris, ambition, and deception, I was a rising star.” he wasn’t, and of a typical UK board like the one at the world’s second-oldest merchant bank, went but also one of massive corporate irresponsibility and Unwilling to seek help, Leeson saw his losses Barings, which was a creature of the time,” Power belly up due to massive losses triggered by a former lack of oversight. For an admired and historic banking spiral out of control. By the end of 1994, the error says. “The lesson is that organizational leaders need golden-boy trader named Nick Leeson. The scandal institution, it seemed all but incomprehensible. account had losses of £208 million, and in a panic, to pay attention to what is going on at the periphery played out on an international stage and included Barings Bank was founded in 1762 by Francis Leeson began to bet heavily on Nikkei futures. On of the organization.”

1931 1997 2008 Hokkaido Takushoku The bank, which Washington Mutual “WaMu” The Creditanstalt started nearly 100 years earlier to made its first home mortgage Founded by the Rothschild family in 1855, the develop real estate on the Japanese in 1890 but couldn’t survive collapse of this austere Austrian bank sparked island of Hokkaido, went under from the 2000s housing bust. bank failures across Eastern Europe. making bad real estate loans. 16 17 new products and services. Ultimately, that Leaders usually don’t like following, but in The Three Fs of Innovation means some will fail, but that shouldn’t be the case of innovation, it can be a necessary seen as negative. It’s just a matter of “mak- evil. It means watching what the competition ing them part of the learning process,” says does, evaluating their efforts, and seeing Pezzuto. In other words, when a new product where it falls short, says Adam Johnson, author hen entrepreneur Elon Musk didn’t exist. All he could do was to bring his doesn’t get the desired reaction from custom- of the Bullseye Brief investing newsletter. started production of Tesla’s product to market then listen to consumer ers, then use that knowledge to inform future “Then you make one better and blow them out electric vehicles in 2004, it feedback. endeavors. TV companies have long done this of the water,” he says. An example straight out Wmust have looked bizarre. The pace of technological change, includ- with so-called pilot episodes. If the pilot fails, of Silicon Valley is Instagram, which wasn’t There was effectively no market for such cars ing developments in artificial intelligence, then the series is canceled. the first anywhere, with fewer than 2,000 on the road means that business leaders must act before The key in deciding which new ideas social media within the next year and virtually no public they have all the facts at their fingertips. To continue to live within a company’s potential company KNOWING THAT SOME IDEAS charging stations. That’s only slightly more dither will likely involve getting thrashed by product lineup is through something known as but it did WILL FAIL MEANS THAT MANY than all the 1,549 747 jumbo jets that aircraft the competition because the marketplace now “metered funding.” That means each project something maker Boeing has ever built. But we know moves at lightning speed. Such an approach must continually prove success to get more cash better than IDEAS NEED TO GET TESTED. how this story has shaped up: within a decade, might sound uncomfortable to some execu- funding. Efforts that don’t show meaningful Facebook or Musk’s prescience was proven, with around tives, because it turns traditional business commercial triumphs get cast aside or denied other social- 1.9 million battery-powered electric vehicles planning on its head. In the past, a firm want- future funding. type firms. “They made a better product that of all brands on the road in 2017, along with ing to introduce a new flavor of toothpaste Knowing that some ideas will fail means was like Facebook but with more photos,” says 430,000 public chargers. could rely on a stash of robust data that that many ideas need to get tested. In other Johnson. It was so successful that Facebook What Musk did, which involved producing already existed when making forecasts. words, it is a fragmented approach. Just as purchased the upstart. a product for which there was no discernable These days the approach may better be you wouldn’t plan your finances by betting all Following the three Fs of course can create demand, is something that all savvy execu- taken by following the three Fs, which stand your retirement funds on a single stock, you a lot of queasiness, and requires special leader- tives must now embrace. “When you go to a for fail fast, fragmented approach, and fast shouldn’t bet the entire future of a company ship. “The word ‘courage’ comes to mind,” says new venture, you cannot use the traditional follower. Using these methodologies, entre- on one unproven idea or product. “You have to Ken Eades, emeritus professor of finance at metrics,” says Ivo Pezzuto, a professor of global preneurs in Silicon Valley have given birth have the mindset of a serial entrepreneur with the University of Virginia’s Darden School of economy at The International School of Man- to some spectacular businesses, including a portfolio of ideas,” says Pezzuto. Just like with Business. But never mind if it’s scary: it isn’t agement in Paris. In Musk’s case, he couldn’t Facebook, Apple, Instagram, and Twitter. stocks, some will do well while others flame as frightening as having the competition make accurately forecast the size of a market that Fast failure means experimenting with out. Overall, there will be a lower level of risk. your company obsolete.

Constable is a former Wall Street Journal TV anchor and current fellow at Johns Hopkins Institute for Applied Economics.

18 19 SUCCESSION PLANS Christine Rivers

Find a New CEO, Stat! United States is going through some tremendous the hospital system. Managers who start on the upheaval. There’s already been multiple waves healthcare-delivery side are getting experience in nter any hospital and you’ll likely see quarter of the hospital groups said they don’t have of mergers—which have put multiple hospitals, finance and other areas. things that are common to them all, any succession plan at all. doctors groups, and outpatient facili- MORE THAN Boards are doing some changing, too. such as nurses and doctors bustling in It isn’t that the healthcare firms don’t under- ties all under one umbrella—and there New healthcare directors and trustees are Ethe hallways, life-saving machines, and stand this is a big problem. Two-thirds of them likely will be another wave soon. At A QUARTER not just there to fundraise, they’re brought operating rooms. But at the very top, the orga- are more concerned about the age of their C-suite the same time, the entire reimburse- OF HOSPITAL in for their operating experience, expertise nizations that run hospitals share another trait: executives than they were five years ago. But ment system is changing. An increas- GROUPS SAY in finance, or knowledge of other areas to be administrators who’ve been in the job a really, healthcare boards aren’t bringing up succession ing number of groups, including the effective advisors to the CEO. These boards really long time. on their own. CEOs are often the ones dictating federal government, want to pay THEY DON’T are putting a heavier emphasis on talent Indeed, it isn’t hard to find CEOs of healthcare who his or her replacement will be. healthcare groups for keeping patients HAVE ANY development. Some boards are modify- systems who have held the role for more than a In some ways, it’s understandable why. Even healthy, not just fixing them when ing the mandate of their compensation PLAN FOR decade—and some 20 years or longer, putting them as the hospital system has changed, some of the they’re sick or hurt. That’s all before committees. near retirement. And while there’s nothing inher- boards have not. Many of the directors (or trust- the most obvious upheaval: technology WHEN THE None of this is going to change the situ- ently wrong with CEOs who’ve been on the job a ees) were hand-picked by the CEO in the first place that is changing how patients actually CEO LEAVES. ation overnight, but having that succession long time, of course, it does mean a clear succession because of their status as pillars of the community get treated. plan and an improved talent development plan should be in order. But that’s where a disturb- or their ability to raise money for the hospital. All that means the next CEO is pipeline should give the organization—and ing number of hospitals share something else in Plus, healthcare culture is far different, and often going to need considerably different skills and patients—more confidence in the system’s long- common: they don’t know who the next boss will be. more risk-averse, than other industries, solely experiences than the man or woman who has term success. It can also avert the worst possible Korn Ferry surveyed 70 healthcare systems because of how so many of its decisions deal with been holding the post for the last two decades. short-term scenario: the CEO having surgery for a across the country, and nearly half of them said life-or-death situations. The savvy healthcare systems are already antici- life-threatening injury, in his or her own hospital, they don’t have a ready-now successor if some- Still, it’s critical for healthcare boards to get pating this. Employees with high potential are and the board having no idea who will run the thing happened to the current CEO. More than a their succession plans in order. Healthcare in the being rotated through the various divisions of place if the surgery fails.

Rivers is a senior client partner with the firm’s Board and CEO Services practice, specializing in healthcare.

20 21 ON PURPOSE Daniel Goleman

What’s The famed neuroscientist Antonio Damasio gave conviction to their words, so they could Your Purpose? calls the sensations in our body that tell us if a naturally express that mission from the heart decision feels right or wrong “somatic markers.” to the heart—that is, in a bull’s-eye way that hit These internal signals guide us in everything home with their audience. And once these leaders from who to marry to how we put our sense of got their direct reports aligned toward the same purpose into words. But goal, they could give fter Apple cofounder Steve Jobs circuits connect to a mid-brain structure, the the feelings come first, BECAUSE OF THE BRAIN’S in-the-moment perfor- discovered he had the liver cancer insula, that monitors feelings throughout the the words after. This mance feedback in an that was to cause his death, he gave a body. But they have zero connection to the part isn’t a dismissal of the WIRING, WE DON’T GET THAT authoritative tone on Aheartfelt talk to Stanford University of our brain that thinks in words, the topmost rational pros and cons whether that person ANSWER IN WORDS. WE GET IT students: “Don’t let the voice of others’ opinions layers. These are the circuits, as Jobs put it, that of decision-making; was helping get there. drown out your inner voice. And most important, “already know what you truly want to become.” rather, felt sense gives IN A “GUT FEELING.” But to send such have the courage to follow your heart and intu- These bottom-up circuits respond faster in us data, too. a message to those ition. They somehow already know what you brain time than do the reasoning circuits in the The better we are you lead, you must of truly want to become.” neocortex. When it comes to thinking fast and at reading our gut feelings, the better we can course first lead yourself—by matching your gut That sage advice gets support from neurosci- slow, our intuitions come more quickly than draw on our life experience in making a decision. sense of what matters to your role. Before taking ence. The wiring of our brain, it turns out, can our rationality. That’s one reason self-awareness has been the a Korn Ferry program that focused on this, for make it hard to articulate that “inner voice,” the While this intuitive circuitry can’t talk keystone ability in emotional intelligence. example, one pharmaceutical company executive internal compass that points us to our sense of directly to the verbal cortex, it has strong con- A while back, Korn Ferry conducted a reveal- had been thinking about quitting. But during the meaning and purpose in life. It can point us in the nectivity to the gastrointestinal tract. Take, for ing study of 3,781 senior leaders and their direct training, he articulated what matters to him the right direction, but doesn’t give us the words to instance, that all-important question: Is what I reports, asking the anonymous direct reports to most—as he put it, “directly impacting the lives name where we are heading. am about to do in keeping with my sense of val- describe the climates the leaders created. The and health of clients.” In the end, he stayed with The brain stores our life wisdom—the sum ues and purpose? Because of the brain’s wiring, best ones were created by “visionary” leaders, the firm but took a role working more directly total of every experience we’ve ever had—in cir- we don’t get that answer in words. We get it in a the one who could articulate an inspiring mis- with clients. In a very real sense, he’d found cuitry deep in its lower reaches. These deep-down felt sense, a “gut feeling.” sion, one they wholeheartedly believe in. This his purpose.

Goleman is author of the international best-seller Emotional Intelligence. See keystepmedia.com for his new series of primers, “Building Blocks of Emotional Intelligence.”

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Inquire by emailing [email protected] Cover Story The digital natives are coming—with a new form of by Meghan Walsh totally transparent communication. Can companies use it?

the dawn of 2019, Americans got more than just a recalibrated class of representatives. They got an unofficial invitation to Congress Camp. They got a tour of the hidden tunnels that weave beneath Capitol Hill, flipped through the freshman yearbook, and learned the contents of the new member swag bag. They got to visit the darkened Supreme Court chambers where the Dred Scott case was heard, and sit in on the highly anticipated congressional office lottery. They even got to peer into the coin-operated washing machines elected officials use to do laundry.

NEXT For the uninitiated, it’s easy to dismiss the appellation as digital dependence and narcis- sism run riot, but it might actually bring our virtual and three-dimensional selves into closer alignment. “It’s a way of being online that allows PREV people to humanize themselves,” says Geoffrey Colon, head of Brand Studio at Microsoft Advertis- ing and host of the Disruptive FM podcast, which Alexandria Ocasio-Cortez may be a polarizing figure, but explores the intersections of tech, business, psychology, and pop culture. It isn’t just a matter second to her politics is her social-media accounting of poli- of documenting the daily for online audiences, it’s tics. The 29-year-old not only rode a series of viral campaign inviting them into the everyday. Someone who is The Problem Extremely Online might crowdsource their fash- videos from the Bronx to the House of Representatives, but Companies continue to struggle ion style, but rather than only posting perfectly after arriving in Washington, DC, her Instagram became a with digital transformation, posed selfies will live stream the no-makeup precursor rambling ad-lib about insecurities. It’s sneak peek into the congressional onboarding process. Set including the best uses of social a look at how the sausage gets made, filtered only media, creating miscommunication aside the shade of Ocasio-Cortez’s message and for those who through the lens of the content curator. among both customers and But what does this mean for Jimmy Dean? deal in quarterly earnings rather than vote tallies, her online employees. How will companies respond to the first truly presence offers a foreshadowing of the perils and possibilities Why It Matters digital generation of workers and consumers? that lie ahead with an “Extremely Online” workforce. A business can live or die on its Visit the home page of the New York advertis- ability to reach clients better ing agency Sagmeister & Walsh and you’ll see and engage clearer employee a 24-hour live feed of the office. The window Capitalized, Extremely Online is used as a personal descriptor stenciling and front desk are designed to mimic communication. the navigation bar. And in the spirit of radical as much as a verb. One is Extremely Online in the way one is a The Question transparency that Extremely Online strives for, Democrat or a Cubs fan. The Extremely Online have their own Should companies and workers try Sagmeister & Walsh staff, from the partners to a new, far more transparent form interns, pose nude in their firm’s ads. vernacular, social norms, and hierarchies. They see in pixels of social media—and manage the How naked will companies become? And at and intuitively understand that as the dimensions become risk of such openness? what cost? “No doubt,” says Richard Marshall, global managing director of Korn Ferry’s Corpo- inextricably woven there’s no distinguishing online and rate Affairs practice, “it’s going to be a double- offline. The term Extremely Online itself is superannuated. edged sword.” 28 29 Perhaps for Darwinian reasons, politicians have been more willing to explore truly digital natives are coming of age. Known as iGeneration, Net Gen, or most commonly Generation Z, they will reshape the economy as this alien landscape, while many old-guard we know it. They have grown up online; some will be live stream stars by the time they gradu- communications professionals continue ate middle school. For this cohort born between 1995 and 2014, learning to decipher fake news is A Hedge Fund a survival instinct honed from childhood. While to wring their hands. past generations consider online and offline as Looks into the Mirror binary, Gen Z sees no distinction. “Even using The world’s largest hedge fund, that language is not going to resonate,” says Bridgewater, has taken a surprising Rachel Maguire, research director at the Insti- stab at radical transparency, with tute for the Future, a Silicon Valley think tank. a number of unusual steps within the confines of its Connecticut headquarters. Among them: it goes and has gone: LinkedIn, but rarely are they saying anything a corporate flack pitches a that’s interesting to the masses and almost story, a journalist writes never are they exposing vulnerability. the Internet How about it, and the companies And then there’s Elon Musk. The Tesla and of Things, and media gatekeepers control the narrative. SpaceX founder is fluent in EO. His Twitter is a Brands might also launch advertising campaigns, primer on how to build rocket ships as well as With Extremely Online Baseball Cards The firm creates and, these days, teams will post their messages the art, critics say, of putting foot in mouth. His isn’t just a way of relating to the world. It’s employee profiles based directly to social media. The content is carefully nearly 25 million followers get to see him run functional. Do you tell Alexa to play music? on colleague/manager crafted, often accompanied by stock photography his businesses in real time—crowdsourcing Use smart home appliances? Drive a car? Wear feedback and algorithms and highly produced video snippets. It’s the oppo- design and decision-making. He’s funny and his a Fitbit? If you answered yes to any of these to measure each person’s strengths site of organic. And while there may be traces of passion for science is contagious—when he’s not questions, it’s time to come to terms with the and weaknesses. Used for building authenticity, the storytelling lacks spontaneity, using his pulpit to bully. His fans may be forgiv- fact you, too, are lowercase extremely online. dynamic teams. transparency, and personability. ing, but there has already been a cost to his aura Here’s a question to foreign-speaking That sound-bite culture is the antithesis of of openness, including a $40 million, admit-no- digital migrants: “Do you understand Twitch Extremely Online, which bypasses traditional wrongdoing settlement he and Tesla made with and the implications for your talent pipeline?” The Dot Collector This app allows employee media channels to speak directly with audiences the Securities Exchange Commission. In short, asks Maguire. to rank ideas and (e.g., Ocasio-Cortez live streaming with her the value of his effort is nebulous. “You can For those blissfully unaware, Twitch is a performance in real time, earbuds in as she rides the train home at night). either keep up with the pace of culture or you live streaming platform that has exploded in with a 1-to-10 scale spanning more Perhaps for Darwinian reasons, politicians have can measure it,” says Mark Schaefer, a business growth since Amazon bought it in 2014 for than 100 attributes. The rankings been more willing to explore this alien land- professor at Rutgers University and the author nearly $1 billion. Last year, the site boasted are transparent among colleagues, scape, while many old-guard communications of Marketing Rebellion, about whether it makes the sixth-highest traffic numbers among video allowing workers to test their own professionals continue to wring their hands. more sense to count followers or assume an streamers. The vast majority of those post- assumptions and motives. “Every brand is on social media, but most use impact on culture. “You probably can’t do both ing and watching are gamers, but there are it the same way they’ve done PR for the last 30 at the same time.” also feeds of musicians taking song requests, years,” Colon says. According to Pew Research, 77 percent of roundtable dining room political discussions, Management Some C-suite denizens took to Twitter in the Americans go online every day, with 26 per- tow truck drivers with dash cams, and GoPro- Principles Training early days as a means to brand themselves as cent identifying that they are online almost wielding bounty hunters on the prowl. Every Almost all official interactions thought leaders, but many jumped ship after constantly. That’s up from 21 percent in 2015. month, roughly 3 million broadcasters upload and meetings are recorded, which witnessing how barbarous a faceless mob can And among 18- to 29-year-olds, 39 percent are portals into their own private worlds. employees review weekly as learning be. They might post the occasional blog on constantly connected. Meanwhile, the first Sure enough, Twitch is like a black hole, the and analyzing experience.

30 gravity of voyeurism sucking you deeper and Some C-suite deeper. And for companies looking to attract a new workforce or earn the trust of weary consumers, there’s a universe of potential. “The denizens took people carrying luggage on and off airplanes, automotive and construction workers ... there to Twitter in are big opportunities for leaders to showcase these different careers that pay as good as retail and restaurants,” says Jose Costa, a marketing the early days strategist and chief executive at For Eyes, a GrandVision brand. Costa previously spent as a means to most of his career in automotive and fast-food leadership. The US Army has a first-person shooter video game that allows prospective sol- brand themselves diers to preview combat. It isn’t hard to imagine a day when person-organization fit is measured as thought leaders, through virtual reality simulation. Costa encourages companies to engage employees in content creation. As he wrote in but many jumped an article for Forbes, it’s about distilling your organization’s values into the moments of the ship after witnessing day, telling a story of who you are through what you do and how you do it. That means having a crystal-clear identity and impermeable culture. how barbarous The London-based firm Pulsar is part of a growing industry that creates social listening a faceless software. But as Davide Berretta, Pulsar’s vice president of marketing, says, it isn’t enough mob can be. for companies to listen in on conversations— they must engage. “Companies need a voice,” he says. They have to allow the people who work for them and use their products to tell born of a beauty blog by Emily Weiss. “Before stories that resonate with other people. fans loved Glossier, they loved Emily,” he “Who do people believe? Each other,” says says. All of the website’s models are actual Schaefer, the Rutgers professor. “People will customers, and products are designed to be trust a review from a stranger before they shareable, online and offline. The packaging is would ever trust corporate messaging. So a pink bubble pouch that doubles as a conve- the new challenge is to be invited to these niently adorbs Instagram background, while conversations. And you can’t buy your way in. stickers make the perfect notebook accessory It’s going to have to come through authentic, for teenage girls. The secret: being Extremely human interactions.” Online in service of Extreme Humanity. In Schaefer gives the example of Glossier, this case, Weiss is the brand, and the cus- a buzzy New York-based skincare company tomer is the advertising.

32 every employee salary, every expenditure, served as a captain for an elite parachute unit strain of the Extremely Online ecosystem, the every financial. in the military, likened it to the bonds forged key distinction is that the employees collec- and offline realities are And then there is Bridgewater Associates, the in sport and mission, where teamwork is mea- tively value and trust in truth above all. world’s largest hedge fund. In one of the most sured by helping each person come to terms Until recently, Silicon Valley was the land mirrors of one another, reflect- extremes of the Extreme movement, the major- with their strengths and weaknesses. of techno-utopianism. In the wake of the Cam- ing as well as perpetuating and ity of all official interaction there is actually Whenever someone who is not present is bridge Analytica scandal, walkouts over sexual distorting each other. At the same digitally recorded; employees then spend time mentioned, they are sent a recording of the harassment, and employees pushing back over Online time we were dismantling personal every week reviewing videos of their colleagues conversation. “It does alter your behavior,” facial recognition software, Silicon Valley has privacy boundaries on Facebook, employers for learning and feedback purposes—both good McCormick says. “You’re constantly aware of become blanketed in a skepticism as thick and were removing cubicle partitions. Along with and bad. It’s all done in the spirit of radical the fact that whatever you’re saying you should intractable as the Bay Area fog. Part of Ocasio- glass conference rooms, companies are also transparency, which is also why everyone from be able to say in a room in front of 100 people.” Cortez’s allure to her fan base is that she has big recording and storing massive amounts of the CEO to entry-level hires rank one another’s Those who buy in tend to view the potential for ideas. People can—and certainly are—debating worker data. performances on a regular basis using a set of personal embarrassment as a sacrifice to the the merits of such ideas, and that is exactly what Amazon employees are physically tracked metrics known as the Dot Collector. Every dot gods of growth. Those who don’t, call it surveil- takes place every day at Bridgewater’s Connecti- to measure efficiency. Police cameras are ubiq- given and received is public. The data collected is lance culture. cut headquarters. Extremely Online has opened uitous. In academia, professors’ entire careers then used as a predictive power to partner people It comes back to the double-edged sword: a door, taking us into tunnels that lead between are readily visible online. A quick Google search with complementary and contrasting qualities. Publishing salaries may lead to pay parity. It congressional offices and generations, and that reveals what classes they teach, research inter- “It’s a whole new world,” says co-CEO David may also breed hostility. Documenting meet- connect the three-dimensional and the digital ests, published papers, how many times and by McCormick. “I’ve come to realize that kind of ings might prevent egregious sexual harass- self. It offers the red pill or the blue pill. And, yes, whom their findings have been cited, student candor is the basis for very deep and meaning- ment, but it might also stifle creativity. While there are many risks to widespread openness, ratings, and possibly even entire lectures. ful relationships.” McCormick, who wrestled in some ways the ethos of radical transparency but as McCormick puts it, “It’s more dangerous Other companies are now choosing to publish while a student at West Point Academy and that flows through Bridgewater’s lifeblood is a not to be having honest conversations.”

Do You: 1 Drive a car that was built 6 Celebrate your cake day after 1990? (aka Reddit birthday)?

2 Express emotions in emojis? 7 Regularly check three or more social-media platforms Take Our Quiz .... 3 Know of Ninja? How (Twitter, Facebook, about Dude Perfect? Instagram, LinkedIn, etc.)? Digital natives scoff at the antiquated notion that there is an online and an offline. The 4 Navigate among more 8 Have smart appliances or truth is, unless you live off the grid, you’re than three screens (laptop, a Nest in your house? online—the question is, to what extent. tablet, TV, phone, desktop, Answer yes to five or more questions and watch)? 9 Wear a Fitbit, Apple Watch, you’ve crossed the threshold to Extremely or pacemaker? Online. Otherwise, you can enjoy being 5 Own a strategically lowercase extremely online for a bit longer. placed Peloton? 10 Ever gone on a digital detox? The HR Hundreds of the country’s top HR executives worked for one of two guys. Coaching Tree What, exactly, did Mike Feiner and Bill Conaty do?

MIKE FEINER BILL CONATY

36 37 Story RUSSELL PEARLMAN Photographs SEAN HAZEN

So-called Interestingly, they’re different in person, “coaching trees” with Conaty, a Vietnam-era veteran, being the more reserved, and Feiner on the blunter side. are quite the rage But even more curious is how their styles differ. Conaty insisted that his troops become “highly in sports these days, visible and highly credible,” a slogan that could be found pinned on the board behind nearly every referring to coaches who develop assistants GE HR employee’s desk. GE’s HR employees had to that go on to great success elsewhere. You can build trusting relationships with the operations trace nine NFL head coaches—including Bill managers they worked with. “We wanted people Belichick—to two-time Super Bowl winner Bill out front, and we wanted them to understand the MICHAEL KORS KOHLS HERTZ AMAZON Parcells, for example. As for the corporate world, needs of the business,” Conaty says. legends like Jack Welch and Silicon Valley guru Feiner likewise wanted his HR teams to build Peter Thiel have their own protégés sprinkled reputations as business problem solvers, but he through C-suites around the world. also had no qualms about dropping high-potential And then there’s Mike Feiner and Bill Conaty. young people into situations that, on paper, they Where the protégés have gone Never heard of them? That’s understandable; were not prepared for. “If you’re not sure what to they’ve never run a company (or coached a do, I’ll tell you, but go fix the thing,” Feiner says. professional sports team, for that matter). But in In 1984, Feiner sent Ken DiPietro to the world of human resources, the two are quite southeastern Michigan to completely redo the epic. In fact, you might call them the progenitors company’s labor negotiations strategy. DiPietro THE HARTFORD AXA BAXTER GOODYEAR of two of the world’s greatest coaching trees. was 24 at the time. “Feiner expected you to Feiner was the head of human resources at understand the business and shape it, regardless Pepsi for 20 years until the mid-1990s. Conaty of age and experience,” says DiPietro, who went had the same role at GE for 15 years until the on to run HR for Dell, Microsoft, Lenovo, and mid-2000s. (Today they both consult, among Biogen. “You were thrown into the deep end, sink other roles.) Together they groomed, pushed, or swim. I found that fantastic.” and mentored thousands of HR executives, more Only in the past few years have many than 250 of whom became the top HR executives organizations realized that HR executives aren’t at one of the 1,000 largest companies in the just there to figure out the firm’s health insurance country, including Amazon, Google, American plan and write the employee handbook. Indeed, UNICREDIT AMGEN Express, BP, and General Mills. Not that either two of HR’s main mandates, creating a positive of them ever did this count, by the way. Dan work culture and attracting (and keeping) Kaplan, a senior client partner in Korn Ferry’s talented employees, are viewed as essential to CHRO practice, noticed the pattern some years the success of the enterprise. Feiner and Conaty ago and did the math. churned out executives who’ve known that for “For years people talked about the talent decades. “It’s about time the rest of the world coming out of the Pepsi and GE systems, but it caught up,” says Feiner. was largely the work of two great leaders,” says We decided we had to know more about the Kaplan. “Working for either Mike or Bill almost pair. In separate interviews with Dan Kaplan, ( GE ) became a requirement for anyone wanting to here’s what they told us about the skills all top HR become a head of HR.” people have, and the value of mentoring. CONATY

38 HR has never been CONATY particularly glamorous. to promotions) was to solve a How’d you get involved? business problem. Pepsi was taking Forge a real close working on the world’s most recognized relationship with the leadership CONATY trademark, Coke, and to do that team, up and down, and be a successfully we needed to create resource for all. Be a confidante and After finishing operations a meritocracy. be a legitimate business partner. management training, I could have CONATY At the top, for HR people to really taken a promotion in operations, be effective, they cannot be viewed but took a more lateral move to HR people take problems off desks. as being in the pocket of CEO. You personnel in Erie, Pennsylvania, Managers, particularly executives, need to have a great relationship which is what GE called HR in 1971. will get plenty of those from legal, with the CEO, but don’t let it be I knew that in a company like GE, finance, compliance, and elsewhere. the only relationship, or you’ll last the more broad-based your skills HR has to be different. Even today, about a year. were, the longer your legs would you see HR folks who are great FEINER get, and that this might be a chance problem identifiers, but not-so-great to get an inside look and make a problem solvers. Whether it was Even well-managed companies dramatic difference. a plant manager or [GE CEO] Jack don’t work that well. You’re FEINER Welch saying, “What do we do?” empowered to change and improve I’d say, “You don’t do anything, I’m things. Also, help line leaders AMERICAN EXPRESS BIOGEN DUPONT MICROSOFT My father went to law school but working on it.” create an environment in which had to take over a haberdashery people feel that they’re building a when he lost his hearing in his 20s. cathedral. It was a boring job, and I thought he So what traits and was miserable. A lot of that steeped skills do good HR Where the protégés have gone into my DNA. People ought to be leaders share? What did you think when engaged and fulfilled, whatever your direct reports would your job is. So that led me to HR. FEINER quit and take top jobs at other companies? The No. 1 requirement for being So, you weren’t just an HR person is courage. You’re FEINER negotiating healthcare sometimes going up against plant WENDY’S DELL GAP GENERAL MILLS plans and writing managers and telling them their Over time, I have felt enormous employee handbooks? leadership is terrible. You also have pride and some degree of sadness. to be a change agent; you’re never I’d see Pepsi lose some of its best FEINER satisfied as an observer. Having a and brightest, but they were getting seat at the table is not sufficient, it’s really great jobs. Really good HR people don’t want about advising other leaders at the CONATY to do the company handbook. They table how to up their game. want to get people to say at the end CONATY I can’t ever say I got surprised. of each day, “Wow, I did a great Some folks would come to me job, I feel appreciated, I mattered.” Courage is definitely important. and say they had two or three Two-thirds of employees have no Depending on the company culture, opportunities, and it was incredibly commitment or loyalty— you have to be able to push back. gratifying that they would come BNY MELLON YUM! BRANDS that’s tragic. If you don’t push back on an issue to me to discuss their options and that is important to you, then you solicit my opinion. will get rolled. You also always What do you mean that have to be in a learning mode; you HR should be business can’t have a been-there, done-that Have you two problem solvers? mentality. ever traded notes about HR? FEINER What did you try to FEINER The whole reason we designed and instill in the people ( PEPSI ) installed a human capital system you hired or oversaw? Believe it or not, we’ve never met. (which created a vigorous approach I’d very much like to, though. FEINER 40 As they move into management, many The Millennial Generation Yers are discovering Managers some unexpected challenges. Have Arrived

isn’t even the only millennial-aged senior leader in the office. The firm’s chief opera- tions officer hasn’t had her 30th birthday enior vice presidents yet. Boyd keeps telling himself that the are expected to manage age number is irrelevant, but sometimes a significant amount it isn’t so easy. “It all comes down to of work and people, respect,” he says. “Be tactful when the and Samuel Boyd is no discussions are hard and try to lead by exception. At Capital example. Don’t ask anything of others Asset Management Group, that you wouldn’t ask of yourself.” a financial planning firm in Managing a team is challenging at Washington, DC, he oversees a the best of times. It’s always a balancing staff of nine while bringing in money act of meeting business goals while jug- from clients—$120 million over the last gling a workplace full of different gen- five years. He’s been an active member of erations, all with their own set of wants his industry’s leading trade association and needs. But in offices around the Ssince 2016. Most recently, he bought a world, there’s a growing number of lead- 15 percent stake of the firm and began ers who are bright, talented, and most working with the firm’s founder on a critically, young. Millennials—that mas- long-term succession plan. sive cadre of 75 million Americans born That’s a lot of responsibility— between 1981 and 1996 (there are 2 bil- especially for a 31-year-old. And Boyd lion millennials worldwide)—already

Photographs by Randall Cordero THE PROBLEM

There are more than 5 million millennial-aged managers in the US now who are short on experience and long on ambition. WHY IT MATTERS entered the workforce en masse years express anxiety about moving into Millennials likely will make up 75 percent ago, and now they are rapidly becoming management. It isn’t about not wanting of the total US workforce—and the majority managers and even senior executives. to lead—a majority of them do; rather, of managers—by 2030. The shift may sound ridiculous to baby it’s about not getting the right training, THE SOLUTION boomers and Gen Xers, many of whom or developing the right skills or emo- still hold false notions that millennials tional intelligence to lead effectively. Better and more extensive management as a group are averse to working hard and Millennial managers face a challenge training, with an eye toward long-term successions to the C-suite. have lightning-short attention spans. But that their older predecessors haven’t it shouldn’t be a surprise. The average faced in decades—how to balance their age of a first-time manager in the United generation-­specific tendencies with States is about 30, an age milestone that the attributes of great leaders. There’s half the millennial generation has now another related challenge for organiza- reached. Indeed, one recent study found tions, too: how to develop these young that 83 percent of US employees have managers now so they grow into great already seen millennials managing C-suite executives a few years from now. boomers and Gen Xers in their offices. But interview these newcomers to the boss title, and many will quietly

illennials are

MANAGEMENT already the driving force in TRAINING FOR THE employment. In YOUNGER SET M2016, 54 million millennials were either working or looking for work, making it Steps organizations can take to help the largest generation in the US labor millennials develop into great managers: force for the first time. The group might Identify high-potential not have taken over the C-suite yet millennial-aged talent. (only two Fortune 500 companies have “The earlier you start leadership development, the quicker the compound millennial-aged CEOs), but they’ve made interest of those programs starts to plenty of inroads in management levels accrue,” says John Petzold, head of throughout organizations. As of last year, Korn Ferry’s CXO practice. there were anywhere from 5 million to Tailor programs to the age group. 11 million millennials in management, Research shows millennials tend to get business, or financial operations roles, more from flexible online development programs than time spent in a classroom. according to the US Department of Labor. Nevertheless, millennial managers Improve the “soft skills.” are still trying to dispel the labels put Self-awareness, conflict management, upon them years ago by older gen- and other emotional intelligence skills are valuable leadership abilities (and erations. The one particular mark that they can be taught). stands out is that millennials feel an overwhelming sense of entitlement. Mil- Give them some power. Consider giving millennials leadership lennials, or so the theory goes, want the roles on team-based projects. “Empower keys to the kingdom immediately, even young leaders in genuine and meaningful though they don’t have a large depth of ways,” Petzold says. experience or skill. Perhaps the biggest trait of millennial managers is feedback— giving and receiving a lot of it.

It’s a perception Sunaina Mehra For one thing, many millennial man- encounters all the time. The 27-year- agers are driven by a sense of purpose. In old earned three degrees as an under- a study by American Express, 68 percent graduate and is a black belt in karate. of millennials said they want to make a After two promotions in five years, positive difference in society and expect she’s now the director of marketing their company to do the same. Even more at a New York-based wealth manage- clear-cut, 81 percent said that you must ment firm, and her days are filled with have a higher purpose in order to be truly giving advice to, or making decisions successful, and 78 percent want their with, her Generation X-aged CEO, firms to share their own values. and making sure her team does the That sense of purpose is driving the needed work. It’s another story outside vanguard of millennial-aged managers. the office, however. “I’ll go to some By her mid-20s, Michaela Shiloh had C-suite networking event, and they produced music for multiple megastars, think I don’t know what I’m talking including Janet Jackson, Britney Spears, about,” Mehra says. and Pitbull. But she’d seen the music That kind of intergenerational industry’s underbelly—artists get warfare can be tricky. In fact, accord- locked into terrible long-term contracts, ing to one survey, the top two things and she had been kept from getting a fair millennials said their education did not share of royalties. prepare them for was managing others So the 27-year-old started her own and working with older people. It isn’t Los Angeles-based company, BDRM surprising that millennials are charting Records, and hired a team that shared their own leadership course. her goal of changing the industry’s tune.

MILLENNIALS BY THE NUMBERS

BORN DURING TOTAL NUMBER IN THE NUMBER NOW THE YEARS POPULATION US WORKFORCE IN MANAGEMENT

MILLION 1981 75 IN THE US 5.2MILLION —TO — —TO BILLION WORLDWIDE 53 1996 2 MILLION 11 .2MILLION

SOURCE: PEW RESEARCH, US BUREAU OF LABOR STATISTICS More than 80 percent of millennial bosses say o be sure, there are prior leaders have done plenty of issues millennial a poor job of addressing managers are struggling with. Some of those boil down to a lack Tof experience, but not all of it. They are issues of gender and disdainful of the work of their predeces- racial diversity. sors. More than 80 percent of millennial bosses say prior leaders have done a poor job of addressing issues of gender “We are having a lot of fun coming up and racial diversity in their workplaces, with new standards and creating better according to the Inc. survey. contractual agreements for artists,” Indeed, learning how to manage Shiloh says. people, regardless of their ages, who Millennials are also trying to develop recently used to be your peers, requires a flexible management style early. some tact. “You don’t want to make When millennials began entering the them feel stupid or spoken down to,” workforce in droves starting in the says Samara Cooperberg, a 28-year-old mid-aughts, they saw firsthand how public relations executive who oversees well—or poorly—baby boomer and Gen X six people. bosses treated their own teams. The best Some assistance from their employ- managers, they saw, could adapt their ers could help, but at least right now, leadership styles to get people engaged. many organizations don’t prioritize Savvy millennial managers have grooming millennials as leaders. To picked up this agility right away. Sam some degree, the shift has caught many Boyd has been charged with digitally off guard. According to the Harvard transforming the office, including using Business Review, the average age for virtual files over paper ones and email leadership development training is up over phone calls. But he saw that certain and a litany of others since they were three personal and professional goals. there in years—at 42. (See “Manage- clients and employees were struggling born. They’ve always known where they “We want to be able to see what is going ment Training for the Younger Set” on and, in some cases, frustrated. So he set stood, so it isn’t surprising, as at least on, without having to micromanage page 45 for steps companies can take.) up a rule: anyone born before a certain one polling firm surmised recently, that anybody,” Mehra says. But at the end of the day, the mil- date, client or employee, would be exempt millennials are building that feedback That feedback loop is part of an lions of millennials who are managers from the transformation. “That’s the way loop with their subordinates. overarching desire by millennials or soon will be are going to have to many older clients like to communicate, For instance, Mehra expects end-of- for transparency. More than half of learn to own the fact that they are now and it’s important to be cognizant of the-week reports from her team letting millennial-aged managers want what’s bosses. Don’t make excuses. Hold your- that,” Boyd says. “If you send an email to her know what each individual accom- called “active transparency,” meaning self accountable. Recognize problems 70-year-old clients, they may not read it.” plished, what’s on the docket for next companies should make all financial and find solutions for them. And don’t But perhaps the biggest trait of mil- week, and if there are any issues she information available to employees. Only apologize for being there. Cooperberg lennial managers is feedback—giving can help out with. But she’s also talking 37 percent preferred partial transparency says the best advice she ever got was and receiving a lot of it. Members of the to them throughout the day using the —the status quo at many firms now— from a former supervisor. “Run with generation have been hearing about workplace communication software according to a survey done by Inc. and it, and know you were promoted for a performance from sports coaches, music Slack, and once a month talks to team Fast Company magazines in conjunction reason,” she says. “So just go out and instructors, after-school dance teachers, members individually about their top with the career website The Muse. get it done.” ADAM LET THERE BE LIGHT PENENBERG

MORE COMPANIES ARE WAKING UP TO T HE CRITICAL ROLE OF OFFICE LIGHTING.

BU T WHAT HAPPENS WHEN WE W ORK FROM HOME?

THE

SOLUTION Deploy ideal lighting estimated 3.8 billion email accounts in the office—and offer guidelines A N worldwide fire off more than a quarter WHY IT for at-homelighting. work of a trillion messages each day, some MATTERS of them not even spam. Out of this staggering sum, Companies are

alreadybillions spending on some will be sent outside of typical working hours THE and the controlled environment of the workplace.

improvingproductivity. employee PROBLEM Such was the case for Sam Hagerman, founder and Our sensitivity to owner of a boutique building company in Portland, light is greater

than most realize, Oregon. He had just returned from a festive holiday especiallyworking. when party at his alma mater, shed his tuxedo, brushed his teeth, and crawled into bed. Work still weighed on him, though, so he snatched his laptop to check email. The only light in the room shone from the laptop’s backlit screen, which he had darkened so as not to disturb his wife. There he found a message from a client he had spent countless hours wooing. This, he hoped, would be the news he had been waiting for. Hagerman did not like what he read. The client complained that his firm was making the process too difficult for her. Too difficult for her? Hagerman thought, remembering the two years he had put into the deal. Perhaps deft diplomacy would salvage things, but Hagerman lost his patience and replied to his team: “I think this fish is rotten at the head. Let’s cut bait.” Then he shut his laptop and went to sleep— not realizing he had hit “reply all.” The deal, of course, was over by the time the client saw the email the next morning. Possibly, the late hour affected his judgment. But Hagerman had sent the email in the dark, and studies show that we humans act differently in low light than we do in the light of day. When the lights are dim, humans tend to feel less connected to others. In the shadows we care less about what others think of us. One theory is that ambient darkness lowers a per- son’s visual acuity and makes him feel hidden from others. So we let down our guard and are more apt to make more hedonistic (read: authentic) choices. For Hagerman, this may have meant letting off steam instead of managing the client.

53 HOW TO LIGHT UP A ROOM LIGHT IN THE WORKPLACE

E T O thrive in today’s globally competitive environment, companies at the top of their game expend great effort toward giving their workers any edge. In addition to generous compensation packages, they provide perks and benefits that range from health club memberships to on-site laundry facilities to stress-busting programs. But there’s also a critical link hiding in D B C plain sight that helps people function at their very best. We are talking about light. Vision comprises 80 to 85 percent of our perception of the world around us. So perhaps it shouldn’t be surprising that lighting can act on people in subtle and not-so-subtle ways. It can affect how we feel, what we do, and how well (or A poorly) we do it. The right light can wake us up in the morning—as much as a strong cup of coffee—or help us wind down for a blissful night’s sleep. It can coax greater productivity, concentration, and creativity out of workers. Lighting can be designed to change throughout the day, mimicking the movement of the sun and helping us keep our bodies and minds in sync. Or it can be used to help shift the mood in the evening, making it ideal for a networking event. Coupled with decent ventilation, studies show that good lighting can improve employee job satisfac- tion by almost 25 percent, increase productivity by 16 percent, and lower absenteeism. A And it can minimize mistakes, too: an associate professor at Harvard University Task reportedly reduced errors at NASA Mission Control by switching to rich blue lighting, BULB which could also be applied to healthcare settings to reduce medical errors. Always use focused INTENSITY Equally true, however, the wrong lighting can be harmful. A study at Cor- illumination for nell University found that people working in offices with poor lighting saw a work surfaces. 15 percent drop in their creativity while having a 6.5 percent higher likelihood of falling sick. Artificial light such as the kind emitted by fluorescent and halogen B 1000lux 750lux 500lux 300lux bulbs has been connected to disruptions in our internal body clocks, which Natural Hospitals, Laboratories, Office Spaces, Computer causes the light-triggered release of hormones that regulate bodily function. Maximize by Detailed Mechanical Conference Workstations, To some degree, businesses have long understood the importance of good removing window Task Areas Workshops Rooms Classrooms lighting. They employ lighting designers and other experts who know what coverings or adding skylights. sparks our brains and what doesn’t. They choose the kinds of lights they believe will yield the best results—when to turn up the lights or tune their color spec- C trum to increase concentration and coax greater productivity from workers. Over Pendant at WeWork, there’s even a 14-person team dubbed “The Dream Squad” tasked DISADVANTAGES ADVANTAGES A great way to with designing the ideal lighting for co-working spaces. balance lighting OF OF But the obvious question is, what about all the legions of people who don’t throughout a POOR LIGHTING QUALITY LIGHTING work in company offices or special co-working spaces? They take their work large, open layout. home with them, or are the harried folks you see typing reports and holding D videoconferences on the run, or replying to texts and emails in coffee shops, air- Accent ports, and aboard airplanes at all hours of the day and night. These digital doers Eye strain Reduced eye strain aren’t getting much guidance, yet their performance can obviously have a great Dimmable wall Drowsiness Better mood impact on an organization’s performance. fixtures can set a calming mood Boredom Comfort For his part, Eric Higgs, founder of Florida-based LumaStream, suggests that on bland walls. these people seek cooler lighting “while they are maximizing productivity and Headaches Higher energy warmer light into the evening.” Of course, this is easier said than done for the E Low productivity More productivity business warrior who’s checking into a hotel at 2 a.m., waiting for a flight to In-Ceiling

Newark, typing an email on a mobile phone in the back of a taxi—or accidentally Uniform overhead hitting “reply all” to a client’s email in bed after a long day. lighting help to reduce eye strain Illustration: Richard Montoya during work time. Sources: energy.gov, lumens.com, greenbusinesslights.com, cisco.com, mountlighting.co.uk 54 WHAT BUSINESSES DO

O ffices typically employ three basic types of lighting applications: general lighting for open spaces, task lighting for desks and focused work, and videoconference lighting. But they all have one thing in common: they utilize blue light, which tends to energize us humans. That’s because of the way we process light, which potentially can cover the spectrum of colors. It comes down to nature. The sun, which is the ultimate lighting source, provides full spectrum light—light that not only spans the entire visual spectrum, it also has colors we can’t even perceive. When the sun rises it gives off warm colors like orange and red, which suffuse us with calm. At the height of the day, with the sun overhead, the light is cooler, which means it’s sharper and enriched with more white and blue hues. As the sun heads toward the horizon, the colors become warmer again, until nightfall. That’s nature’s way of telling us it’s time to sleep. “A lot of our body chemistry is based on the day-night cycle, which we refer to as the circadian rhythm,” says Stan Walerczyk, principal of Lighting Wizards and chair of the Human Centric Lighting Society. “If you do not get sufficient exposure to sunlight, your circadian rhythm gets messed up and that, in turn, messes up your hormones—and then you’re all screwed up.” WHAT ABOUT THOSE But there is nothing natural about working inside in an office: “We spend 90 percent of our time indoors,” Higgs says. “Our biological clocks are out of sync OUTSIDE THE OFFICE? from work and life conditions.”

That’s why companies have to give lighting some serious thought, especially if workspaces are in windowless settings. People who work in such conditions M illions of Americans work outside the office. One poll found that report lower scores on quality-of-life measures, while studies show those with 43 percent of employed Americans spend at least some time working windows in their workplaces received 173 percent more white light exposure remotely. Companies, meanwhile, are finding that allowing their workers to during work hours. They then slept an average of 46 minutes more per night. telecommute is simply good business, saving millions of dollars in office space It isn’t just the existence of light that affects workers, it’s also the type and (and expensive lighting designs), raising morale and loyalty, and meeting the quality of light. “There’s no question different spectrums of light can cause dif- demands of younger job seekers—i.e., millennials—who prefer it. ferent effects,” Higgs says. Cooler lighting is more typical in a workspace than Obviously, organizations can’t come into people’s homes, but experts in the home since it is perceived as more energizing, while warmer light, with its think guidelines for remote workers might help in a number of ways, such as red and orange hues, settles you down. reminding workers about the pitfalls of communicating with staff, vendors, Until recently, many companies opted for florescent lights in offices because and customers late in the evening or in places with poor lighting. Raising it was cheaper in the short term through energy savings. But such artificial light awareness is half the battle. has been connected to disruptions in our internal body clocks. The good news: as For his part, Walerczyk advises investing in a tunable lamp in homes and the cost of LED lighting has dropped, there’s been a movement among companies home offices, which can be adjusted to emit more blue light to energize, and more for more “human-centric lighting.” red or orange light when it’s time to wind down. Being near natural light always The experimentation, though, has only begun. For instance, for the 2015 helps, so put your office desk near a window, and ditch any fluorescent or halogen season, the Seattle Mariners hired Walerczyk to design and implement an LED lamps you might have. Above all, “email and text should be turned off while lighting strategy in the home team’s locker room. The goal was to design the people are sleeping or resting,” he says. lights to intensify the players’ moods, increase energy levels, and improve their Not one to lack ingenuity, Sam Hagerman, the construction firm owner who on-the-field performance. accidentally hit “reply all” on a message his client wasn’t supposed to see, came “We tuned it so that before a game the players were exposed to blue-enriched up with his own proactive, foolproof steps to prevent anything like that from light and after the game they received a warmer light, so they could eventu- happening again. He had an assistant set up a passcode on his mobile phone so he ally go to sleep easier,” Walerczyk says. (The team’s record improved, although couldn’t respond between the hours of 10 p.m. and 5 a.m. with players regularly switching teams it’s hard to track the lighting’s role.) “I made her promise not to tell me the code,” Hagerman says.

56 57 DOWNTIME

PURSUING PLEASURE. PURSUING LIFE.

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T mythology, the last place anyone would want to be was in a labyrinth. On the surface, labyrinths seemed easy to navigate, with only one way in and out, but they were often In dark, and their continuous twists and turns made it easy to get turned around and confused. And, at least in the Greek versions, there was a minotaur—a part man, part bull monster—inside, ready to eat anyone that crossed its path. Actual labyrinths, however, are surpris- unplug,” says Nicholas Pearce, PhD, clinical Bolshoi Zayatsky ingly serene. professor of management and organizations Often found on college campuses, at Northwestern University’s Kellogg School Island, Russia churches, or parks, their looping paths are of Management. There are more than a dozen a chance for anyone to spend a few medita- The most famous example is a labyrinth labyrinths on this island. Estimated to be about 2,500 tive moments. “It’s a terrific tool for lead- inside the Chartres Cathedral in France. Its years old, the labyrinths and their ers, because it gives them a framework to classic design, consisting of 11 concentric exact meaning are uncertain, circles meant to mimic the sacred journey Chartres, France but may be connected with the of a pilgrimage, has inspired many other movements of the earth around the sun or the solstices. similar structures. One such Chartres-style Dating back to the early 13th labyrinth is located in Palos Park, Illinois, a century, the Chartres Cathedral Maze or Labyrinth? labyrinth has been associated southern suburb of Chicago, at The Center, a with pilgrimages since the Middle A maze nondenominational community focused on Ages and still attracts both with many wellness and healing. Rev. Chris Hopkins, spiritual pilgrims and tourists. paths to pastoral director of The Center, walks the choose, some 39-foot-diameter labyrinth almost every day of which dead- as a way of becoming more grounded. end, is meant “I practice sitting meditation, but that’s kind to confound. of a struggle. When I can be outdoors, simply walking the path, I find myself becoming pres- A labyrinth ent,” Hopkins says. Slowly, the busyness of the with only day retreats, and Hopkins becomes more aware one looping of her surroundings: the breeze, the birds, even path is her own breathing. It’s relaxing and, at times, meant to transformative, she says, adding that if you Hogsback, enlighten. do become distracted or turned around on the path, that’s a valuable lesson, too. “There’s no South Africa wrong way to walk a labyrinth,” she says. Set against a backdrop of forests Spanning the globe, here are four of the most and mountains at The Edge intriguing labyrinths—minus any minotaurs. Mountain Retreat, this labyrinth and the pathway leading to it Lands End, See the video, take the journey at measure more than a mile— kornferry.com/institute. making it one of the longest such San Francisco walks in the world. A “hidden labyrinth” awaits visitors along the Coastal Trail at Eagle’s Point, overlooking Golden Gate Bridge. It was created by a San Francisco artist who was inspired by historical labyrinths, including the classical Chartres design.

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Break the Wheel: Question Best Practices, Hone Your Intuition, and Do Your Best Work By Jay Acunzo Unthinkable Media

The world is flooded with advice, ideas, and experts, but it’s also important to think for yourself in the face of conventional thinking and best practices, says keynote Books for the Poolside speaker and podcaster Jay Acunzo. The one-time digital media strategist at Google helps readers escape stale approaches and trendy tactics that hold employees back. Our summer reading list mixes Acunzo provides six fundamental questions that readers can ask themselves in any situation to help make the best pleasure (reading) and business (work lessons). possible decision.

BY RENEE MORAD

Loonshots: How to Nurture the ultimate summertime drama—how much time the Crazy Ideas That Win to devote to work during your few days off. Ninety- Wars, Cure Diseases, and six percent of professionals tell Korn Ferry that they Transform Industries connect with work while on vacation, and nearly half of them say By Safi Bahcall Itthat work’s during time off creates conflict within their families. St. Martin’s Pres So, instead of checking back with the office multiple times a day, Radical breakthroughs can launch spend time with your loved ones, then curl up with a book about enduring companies, sustain empires, and empower individuals—but only how to be more effective when you get back to the office. These if we understand the human forces books can help executives become more self-aware, motivate that can get in the way. In Loonshots, teams, and even help accomplish seemingly impossible projects. physicist and biotech entrepreneur Safi Bahcall shows how we can manipulate forces—such as how teams are structured and how people are rewarded—to make groups receptive to major changes rather than leery of them.

Growth IQ: Get Smarter About the Choices That Will Make or Break Your Business By Tiffani Bova The Hard Thing About Hard Things: Portfolio Building a Business When There Are According to Salesforce growth expert Tiffani Bova, No Easy Answers repeatable, reliable growth depends on your capacity By Ben Horowitz to make the right series of choices at the right time. She HarperCollins explains that a great growth game comes from context, combination, and sequence. Context requires choosing Ben Horowitz knows all about the trials the best growth plan based on your existing product mix, and tribulations that come with being an competitive landscape, and customer base. When you entrepreneur; he’s the cofounder and partner of combine and sequence your strategies, you’ll create a the iconic Silicon Valley-based venture capital multiplier effect. firm Andreessen Horowitz. In his book, he offers up lessons about how to identify things you’re not doing but should be focused on, the best ways to integrate new employees, and more. The lifelong rap fan also ties in lyrics from his favorite songs to really make his business lessons hit home.

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Five Gadgets for Your Golf Game

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❸ Theragun G3 Pro / $599 theragun.com/products/g3pro Sync That Putt ! ❹ Smart Shoes / $360 iofitshoes.com Countless new digital products are hitting ❹ golf courses. We try to lower our handicap. ❺ InBirdie Smart Putting Green / $265 inbirdiesmart.com BY PETER LAURIA

a smartphone, this digital putting green records a exactly how far the ball is from the center of the host of data and allows for practice on greens of up to green. We know exactly which club to use now! The our tee shot at the 18th hole at Pebble Beach is gorgeous, avoiding 49 feet with three different grass speeds. device’s accompanying app reminds us that there’s ❺ the craggy coastline on the hole’s left and turning the 543-yard We then put on a pair of Smart Shoes. The Inter- a sand trap just beyond the green, too. Y net of Things-enabled footwear measures how much The round goes quickly, but all that swinging par-5 round killer into a much more manageable 300-yard par 4. a body shifts weight when swinging a club. The can leave a body awfully sore. So, once we reach The small device clipped to your visor calls out exactly how many yards shoes send data to an app on a smartphone, which in the clubhouse, we break out the Theragun G3 to the hole, and an app on your phone reminds you how to avoid repeating turn will make adjustment suggestions in real time. Pro. This personal massager features six different that hitch in your swing. You make another fantastic shot, then eagle the Once we’re at the course, we slide our golf bag attachments to target various muscle groups. Since hole and seal the 2019 US Open title. onto the frame of a Finn Cycle, a hybrid scooter- it’s only about three pounds, it’s easy to use while caddie that looks more like a Harley than a golf waiting for the bartender to serve up a post-round ❶ Big data has made its way to the fairway, where technology players expect nowadays,” Adams says. cart. We mount it, motorcycle-style, and zip to the Arnold Palmer. apps, sensors, and internet-connected devices This year, golfers are going to see a bundle of first hole. While not available for individual pur- can help all golfers improve their games (even if digital products that can, among other things, chase yet, golfers can rent them at various courses this year’s US Open title may be out of reach). analyze swing mechanics, improve putt accuracy, around the world starting this year. It’s a heck of a Indeed, courses that don’t offer GPS yard- and even speed up a round, says Marc Simon, who lot cooler than a golf cart. age indicators with hole descriptions oversees the annual PGA Merchandise Show in Our first shot off the tee lands in the middle linked to smartphones or embedded Orlando, Florida. of the fairway, which is great except we can’t in golf carts are seen as antiquated, To test out a few, we warm up before we even figure out which club to use next. So we switch says Matt Adams, the best-selling go to the golf course. The InBirdie Smart Putting on the GPS Audible Golf Range Finder, a small, author, Golf Channel regular, and Green lets us take a few practice putts, which will lightweight gadget that conveniently clips onto a host of the daily Fairways of Life hopefully minimize the chances of our missing a hat or glasses. The device contains information on talk show. “This is the kind of 4-footer in front of the boss. By linking its app to more than 30,000 courses worldwide and calls out

64 65 THE 2600 Suite AvenueStars, 1900 the / of Briefings Additional copies:Additional ENDGAME

Jonathan Dahl [email protected] Los Angeles, CA 90067 CA Angeles, Los VP, Chief Content Officer, Korn Ferry

The Right Homecoming ( +1 Service:CustomerCirculation Reprints: Advertising: Tiffany( Sledzianowski+1 Carrie Shapiro +1 ( +1 Shapiro Carrie have missed her. A colleague whose executive roles. And, no matter what sex you contagious energy and wit touched the are, companies tend to devalue experience from magazine I ran back then with one creative a distant past. flairI after another. And then she was gone. The upshot from all this is how these

Off to travel some, start a family, and, I hear, returning women will affect a pressing issue: 212

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Department stats suggest that older women, to 3 percent difference globally, according to many of whom took hiatuses like my colleague, Korn Ferry research. But once you pull the lens are coming back and joining corporate payrolls. back and move across sectors and countries, And doing so in force. that same research shows the gap grows It makes sense; many have disturbingly large—as high as 20 per- watched their kids move on, cent and 30 per­cent. As Ben Frost,

or gone through a divorce, a rewards data expert at Korn and environmentally responsible manner. Produced utilizing solar power in a sustainable PRINTED IN THE U.S.A or watched their successful Ferry, explains, it’s the male entrepreneurial or free- dominance in higher paying lance ventures run out of roles that creates the gap. steam. Still others worry Now comes a chance to about retirement or health attack this persistent problem in coverage. But whatever the perhaps in a meaningful way, by reason, their return raises a placing women who are returning . critical question: What roles will to work in strong and sensible roles—

companies offer them? and at pay levels their male colleagues are The assumption is that someone like my getting. To be sure, it’s going to be complicated colleague would be judged by the great work for firms to balance the experience someone she has done and the years of experience she had in their past with the tech skills and time has ( not to mention her savvy, leadership lost during their break. But, in my mind, the potential, and so on ). It’s how we’d assume winning firms will be the ones that create men would be judged, right? But we know, career ramps for this group to deal with issues KornFerryCopyright2019, © ISSN of course, that’s going to be battle number of rust, and to ensure they land in promising 1 949 one. Men, after all, continue to hold the huge positions and at the right pay levels. In other - 8365 majority of higher management and higher words, the homecoming they deserve.

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