Give Job Candidates Interview Questions Before the Interview

Before candidates join for the interview round, Peoplism sends a thorough prep guide to sketch out expectations. “We tell the candidate most of the interview questions in advance. While it is a unique approach, I don’t understand why it’s that controversial and why other companies don’t do the same,” says co-founder Liz Kofman-Burns.

There are plenty of behind-the-scenes factors that contribute to someone being a … [ Read more ]

Authors: Amber Madison, Liz Kofman-Burns | Source: "Why Now’s the Perfect Time to Retool Your Hiring Process and Get Creative" | Original Publication: First Round Review | Subjects: Hiring, Human Resources | Company: Peoplism

Encourage Bad-News Sharing to Foster Open Dialogue

Sharing bad news—top-down, bottom-up, and across the organization—has a number of salutary effects beyond the obvious benefits of transparency. It can elicit empathy and support, break down barriers, and expand the pool of contributors to problem solving. Energy otherwise spent saving face can be channeled into more constructive use. The net result is not just top-down, bottom-up alignment, but stronger horizontal alignment. As with the … [ Read more ]

Authors: Deborah Lovich, Henning Streubel, Joseph Halverson, Robert Werner | Source: "When Leaders Say They Are Aligned—But Aren’t" | Original Publication: Boston Consulting Group | Subjects: Management, Organizational Behavior

Nail Executive Transitions to Avoid “Hero to Xero”

Whether they’re stepping into an existing pair of shoes or carving out a brand-new role, new leaders often face a dose of skepticism from the org. “Whether we intend it or not, a lot of people have a wait-and-see approach. We're excited about them, but is this going to work out? Versus having a vested interest in helping make that person successful,” says Anne Raimondi, … [ Read more ]

Author: Anne Raimondi | Source: "The 30 Best Pieces of Advice for Entrepreneurs in 2021" | Original Publication: First Round Review | Subjects: Human Resources, Organizational Behavior

Ditch Your To-Do List and Use Your Calendar Instead

Levels’ Sam Corcos has tinkered with a few time management techniques over the years, but the biggest win came from ditching his to-do list altogether and leveraging his calendar instead. Tactically, if Corcos has a task that needs to be completed, he now blocks off time for it on his calendar. “I used to have the habit of overcommitting myself, which became a major source of … [ Read more ]

Author: Sam Corcos | Source: "The 30 Best Pieces of Advice for Entrepreneurs in 2021" | Original Publication: First Round Review | Subjects: Personal Improvement, Productivity/Work Tips

Apply Relevant Investment Criteria

Depending on the structure of a company’s investment portfolio, decision makers may need to apply different criteria in order to highlight differences in the value drivers of various investment types. For example, a strict focus on internal rate of return and payback time may systematically favor incremental improvement investments at the expense of larger breakthrough investments that tend to have longer-term and uncertain payoffs.

The process … [ Read more ]

Authors: Sebastian Stange, Ulrich Pidun | Source: "The Art of Capital Allocation" | Original Publication: Boston Consulting Group | Subjects: Finance, Management, Strategy

The Premortem Technique
The premortem technique is a sneaky way to get people to do contrarian, devil’s advocate thinking without encountering resistance. If a project goes poorly, there will be a lessons-learned session that looks at what went wrong and why the project failed—like a medical postmortem. Why don’t we do that up front? Before a project starts, we should say, “We’re looking in a crystal ball, and … [ Read more ]

Profit Mapping
A profit map, the core analytical tool of profitability management, displays the profitability and cost structure of every product in every customer in the company. Profit maps show exactly where profit is flowing and where it is lost.

A profit map is not especially difficult to develop, but it is completely different from the information developed for financial reporting. Many finance managers make the … [ Read more ]

Review Profitability Before Expanding Capacity
When faced with the need to expand manufacturing capacity and the inherent investment required, first perform a thorough profitability analysis (a profit map) of each product produced from the capacity-constrained factories (this includes profitable products being sold unprofitably to selected customers). Since many companies have a significant amount of unprofitable business, it is quite possible that stopping the unprofitable sales can free up enough capacity … [ Read more ]

Deploy a Redeployment Pool
Intel monitors changing skill requirements and institutes a redeployment program when it becomes necessary to downsize a business. Under this program, managers effectively lay off people, and the head count of the business unit is moved off the payroll. These excised people enter a redeployment pool under the auspices of human resources. Once in the pool, employees generally have four to six months, and can … [ Read more ]

Fiercest Competitor Workshop
One good way to get at these disruptive designs (innovations) is to do what we at my firm call a "Fiercest Competitor Workshop," which starts with the premise that you have been fired from your old organization but you have access to ample capital and talent. Your task is to design the fiercest competitor that could take the market from your old firm. In my … [ Read more ]