Did you meet your peers before you signed the contract?
As you can see from this graph below, the people you spend most of your adult life with are your partner and your co-workers. So you better like them!
Connectivity is critical to our well-being and happiness.
Human beings are a social species, wired to connect.
According to Maslow’s Hierarchy of Needs, besides food, water, and safety, love and belonging are the most important needs we must fulfill. This includes our desire for interpersonal relationships, intimacy, to connect with others, and to be integrated into a group.
When these needs are met, our overall well-being improves, and we live a more fulfilled life.
The 2021 World Happiness Report found that people who experienced an increase in connectedness with others during the pandemic had:
✔️Greater life satisfaction ✔️More resilience ✔️Better mental health
Human connection also decreases health risks and improves physical well-being and longevity. Strong social connections strengthen the immune system and increase your chances of a longer life by 50%.
We find the contacts in our community who really enjoy their roles are the ones who get along with and respect their colleagues.
Given we recruit in the strategy and management consulting space, the caliber of their colleagues seems to be a big contributor to this as many of our candidates come from prestigious consulting firms where they are surrounded by like-minded individuals.
On moving into industry, a consultant needs to be able to work alongside many different types of stakeholders at all levels from the mailroom to the c-suite, this is great experience for them and invaluable for their growth. If they can prove they can influence at all levels they often thrive.
However, we find ex-consultants are happiest when the immediate team they are working with, and the leadership they report to, are made up of smart, dynamic, interesting, and ambitious individuals.
A big complaint we get from some strategy & management consulting candidates who have moved into industry is that they are missing the intellectual stimulation that they received previously in consulting and their pace of learning and growth is affected by this.
The industry clients who use our services ensure the quality of the individuals in their teams remains high. Their teams are made up of excellent talent which in turn attracts more excellent talent.
Many of our clients offer a peer coffee as they make offers, and some of our candidates insist on this which we encourage.
You may be bought into the line manager or interviewer but ensure you have the full picture so do proper due diligence on the tribe you are signing up to belong to. Did you meet your peers before you signed the contract?
During every initial conversation with a new candidate, I always ask about their salary expectations.
It is such an important part of my job to educate candidates on what salaries they can expect in the market and equally to educate our clients on how much they should be paying.
BUT one thing that happens all too frequently in conversations with candidates is that their salary expectations align with their next promotion – whether that is 6 months or in some cases even 12 months down the track.
I completely appreciate that career paths in management consulting firms are mapped out for you.
You know exactly when you will receive your next promotion and exactly how much your salary will increase, but unfortunately, our in-house clients are looking at the amount of experience you have RIGHT NOW.
That’s not the amount of experience you have if you spent another 6 months or 12 months in the role, but if you are applying for the job right now, they are looking at the experience you have right now.
Our clients take into consideration not only your level of experience but also your experience versus their current team members. They look at the parity of their teams compared to new hires and unfortunately if you are too expensive, they simply won’t interview you.
Whilst salaries play such an important part of our careers and growth and I’m hearing more and more lately that the driver of salary increases is due to rising inflation and mortgage payments and increasing financial pressures, it is really important to consider the value that you are bringing with your job application.
So how can we work together to overcome this?
THINK ABOUT YOUR REAL MOTIVES FOR MOVING
Hot market doesn’t necessarily mean massive pay bumps.
It often means choice of roles, but in-house strategy roles aren’t paying a premium to secure the best talent, so it’s really important to consider why you want to make the move.
➡️ Is it for more money?
➡️ Is it for work life balance?
➡️ Is it to become entrenched into one business rather than working across multiple industry projects?
Whatever the reason behind your move, it’s really important to consider your value and how much experience you have right now.
If you’d like to understand more about current market salaries, please send me a message or email me at email@example.com
WHAT DOES LEADERSHIP IN 2023 LOOK LIKE AND WHAT DO THE EXPERTS SAY?- IT’S THE PERFECT TIME TO RELEASE THE LION WITHIN
As we all know, Leadership is a complex and multi-faceted concept, encompassing a range of skills and attributes that are essential for achieving success in various fields of life.
One of the most critical elements of effective leadership is courage, which enables leaders to take bold decisions and pursue their goals even in the face of adversity and uncertainty (like the current global socio-economic climate). Courage is often described as the quality of being fearless or brave, but it is much more than that. It is the ability to face one’s fears, to confront difficult situations, and to take calculated risks. A courageous leader is not afraid to speak their mind, challenge the status quo, and make tough choices, even when these decisions may be unpopular or met with resistance.
To release the lion within, a leader must have the courage to tap into their inner strength and unleash their full potential. This requires a deep sense of self-awareness, as well as a willingness to take risks and make bold moves. It also requires a strong sense of purpose, a clear vision of what the leader wants to achieve, and the determination to see it through.
When a leader releases the lion within, they embody a range of qualities that inspire others and drive success. They are confident and assertive, yet humble and empathetic. They are passionate and driven, yet patient and persistent. They are visionaries who can see beyond the present moment, yet grounded in reality and practical in their approach.
One of the most important aspects of releasing the lion within is the ability to inspire others.
A courageous leader leads by example, demonstrating their commitment to their goals and their willingness to take risks. They also inspire their team members by recognizing their strengths and helping them to reach their full potential. This not only improves morale and motivation but also helps to build a culture of trust and respect, where everyone feels valued and supported.
Finally, another key aspect of releasing the lion within is the ability to adapt to change. In today’s fast-paced and rapidly evolving world, leaders must be agile and flexible, able to respond to changing circumstances and embrace new opportunities. A courageous leader is not afraid to take risks and try new things, even if they are outside their comfort zone. They are willing to learn from their mistakes and adapt their approach as needed, always striving for continuous improvement. #OaktreetalentSearch #Executivesearchleadership #Chiefstrategyandtransformationofficer.
Firstly, are your expectations of how and when you will get promoted in industry roles too high? Management consultants are used to getting regular promotions. Score well on your performance reviews and you are usually aware of which promotion cycle you will secure your next run up the ladder.
In corporate and start-ups however promotions work very differently.
Yes, you need to perform, but your performance is only 10% of the equation. 30% relates to your image and how others perceive you at work. Your perceived gravitas and EQ etc. A whopping 60% + is attributed to your exposure.
Doing a good job is all well and good but if nobody knows about it you are likely to get overlooked.
I find this is a problem for top-performing consultants moving into the industry who do not know how to network, look up the chain, and self-advocate for themselves and then get frustrated when overlooked for a promotion.
Daily my colleagues and I are having conversations with candidates who are exploring the market only to get their next run up the ladder.
NEWSFLASH- There are not many in-demand roles out there that will just give you the next level up and a 30% increase in salary just because you feel you deserve it and are not getting it where you are! (Can you tell we have this conversation on a daily basis?)
So you need to self-advocate to the right people at the right time.
You need to be clear on what you want from your career and what your career goals are. How can you communicate this to others if you do not know yourself? Get specific.
Now think about your energy and your presence and work on your confidence. If you believe in yourself others will follow suit. (Just mind not to go too far the other way, a massive ego can also be your downfall.
Look up and identify who can help you get to where you want to be. What are their goals and values?
Ensure you understand what management’s expectations are and what good looks like from their perspective. Do you understand where the company is going and how you play a part in that success?
Some useful tips to help for self-advocating and being seen.
1. Schedule catch-ups and mentoring sessions with a variety of stakeholders.
2. Build genuine, mutually beneficial relationships with them. Ask them what is keeping them up and night. Can you put your hand up to take some of their stresses off them? They will remember that!
3. Speak up in meetings. Be present in the office when you know management is around. The value of those water cooler chats is undeniable, although, with more flexible working, these are happening less and less. Be the one that stands out.
4. Work on your executive presence. Do you have a blind spot, ask for honest feedback from peers and friends. Many don’t as they do not like to feel critiqued however you want to make sure, when you are standing out to leadership, it is for the right reasons.
Read your CV or Linked In profile through the eyes of a robot!
I have had a fair few coffee’s post the New Year, with good contacts of mine asking for advice as they embark on a new job search. Many have relied of word of mouth for past career opportunities but as they get more senior, the competition increases. They ask me what they need to be doing to be as appealing to the hiring managers of the big roles they are after.
Here are some of the basics:
Gone are the days that recruiters rely on a rolodex and a solid network of contacts, (I am showing my age now). 90% of recruiters, both internal and external, pay Linked In A LOT of money for the privilege of accessing their super smart AI tool Linked In Recruiter.
This tool highlights potential candidates to recruiters and hiring managers based on a set of criteria the user inputs.
So take some time to look at your Linked In profile. What would the AI tool tell the user about you? Does your profile reflect the role you WANT or just list a load of responsibilities you had in roles of the past 10 years? Or does it say nothing at all?
Will the AI tool be flagging you as a potential candidate for that stretch role?
As technology becomes smarter, AI tools like ChatGPT are being used to scan CV’s and cover letters. Users can simply copy and paste cover letters or CV’s and ask it to search for key job criteria. It will comb through text to determine if candidates have relevant experience. Even if this process is being done by an internal talent person or EA and not an AI tool, they too are looking for specific terms, words or achievements.
Just like AI tools, internal recruiters are often not subject matter experts on every role and rely on you to make it obvious that you are relevant for that role which is why it is important for you to tailor your resume to the role you want using the businesses terms, phrases and the words they use in the role descriptions. (For instance, do they call it “Blue sky thinking strategy” and you say “Corporate strategy”)
Finally, when you have managed to get the attention of a hiring manager, you want your profile to sell not tell!
Don’t just list roles and responsibilities.
My clients want to see quantifiable achievements directly related to the work you did. How did your input benefit that business?
We have a free resume template and insights on our website for anyone who may need it.
Of course, we are safe in the knowledge that our years of networking will safeguard us from such tools that will still miss excellent talent and cannot determine character and gravitas but if you are active in the job market, you need to think about being an obvious choice for the role you want beyond word of mouth.
WHAT HAVE BEEN THE TOP BOOK RECOMMENDATIONS FROM THE GUESTS I HAVE HAD ON MY STRATEGY BITES PODCAST TO DATE?
Do you have a few minutes to read? No matter where you are or what you’re doing, reading can be a great way to expand your knowledge. My guests typically come from Management Consulting or the world of Strategy, and have succeeded in their chosen paths. So by spending a few minutes reading my blog or listening to my podcast, you can likely benefit in some way.
Managers are always looking for ways to improve their management skills. Instead of taking a course, why not read the best books on management? These books have been recommended by top consultants around the world. Find out which ones you should be reading!
🎆Toby Norton-Smith-Smith-MD of X15 Ventures 📕Valuation: Measuring and Managing the Value of Companies by Tim Koller, Marc Goedhart, David Wessels
🎆Deanne Stewart -CEO of Aware Super 📕The Five Dysfunctions of a Team by Patrick Lencioni & 📕The Ideal Team Player: How to Recognize and Cultivate The Three Essential Virtues by Patrick Lencioni
🎆Jean Hayden – Strategy & Operations Director Google Cloud 📕True North: A Memoir by Jill Ker Conway & 📕Master of the Senate: The Years of Lyndon Johnson by Robert Caro
🎆James Twiss – CEO – Beforepay 📕War & Peace Novel by Leo Tolstoy
🎆Diane Smith-Gander AO – ED & NED and Former McKinsey Partner 📕Mentally at Work: Optimising health and business performance through connection by Genevieve Hawkins & 📕Strategy Beyond the Hockey Stick: People, Probabilities, and Big Moves to Beat the Odds by Chris Bradley, Martin Hirt, and Sven Smit & 📕Not Always Diplomatic: An Australian Woman’s Journey Through international affairs by Sue Boyd