Many times during Advantexe’s business acumen and business leadership talent development engagements, we have the chance to sit down and talk with business leaders about key issues and challenges they see in their world of business. These conversations are usually over dinner after a solid day of training when we have the chance to talk and engage in a deep and open dialogue about what we saw during the training day and how our observations relate back to the business world.
Last week, we talked with a group of leaders about what’s on their minds, and one of the interesting topics we discussed was new employees entering the workforce for the first time. The conversation got a little raucous and after about thirty minutes, it turned into a list of things that these experienced leaders would share with new employees starting their first jobs. Here is the list of six critical business acumen tips this group of leaders compiled and we suggest that it can be used by leaders coaching new hires and for new hires to think about as they start their first jobs.
1. Determine How You Define Career Success
In previous generations, success was very black-and-white. It looked like having a job for 40 years, a pension when you retired, a picket fence, and a good quality of life. Today those things are completely antiquated as generations have evolved to both sides of the spectrum ranging from pure wealth creation to pure philanthropic jobs that are all about doing well for people and mankind.
In the last few months, I have met many wonderful young people setting out on their new careers; some are going to Wall Street and investment banking while others are looking to help people. While the young man I know going to Wall Street is a terrific person, I am struck every day by a young woman I met who is a Program Coordinator for the Veterans Multi-Service Center of Philadelphia. In both cases, they have good ideas of what success for themselves looks like. It’s a great conversation to have that creates an open dialogue and collaborative performance alignment.
2. Put your Smartphone Down
Everyone in the group was unanimous that this issue has reached epidemic proportions. Their new hires are addicted to their smartphones and literally can’t put them down or focus on anything else for more than 10 seconds. It is infuriating and obnoxious and will be a major career derailer if not addressed. There is always a time and place to stay connected and communicate with friends and family but it cannot be in the middle of the business day and in a critical meeting. One leader in the group said that the epidemic has become so severe that she has to take everyone’s smartphones from them in the beginning of meetings to ensure that she can have their attention.
3. Build a Network
Social media presents unparalleled opportunities for building networks and relationships. Cultivate them, nurture them, and build them. Your network will be the single most important asset for your career over the next 40 years.
4. FILO
FILO stands for “first in / last out.” You are the newest person in the business and you must learn how to pay your dues. Malcolm Gladwell his book Outliers brilliantly observes that success is not an accident; is the result of hard work and 10,000 hours of practice to become excellent at what you do. Be the first one into the office and be the last one to leave the office, and you will have a much better chance of being successful.
5. Everyone Doesn’t Get a Gold Star for Doing their Jobs
You have been hired for your new job because someone or a group of people believe in you and your capabilities. A good leader will provide feedback and coaching and will help you grow in your career. But don’t expect a gold star for everything that you do well; that is an expectation of the job. Unfortunately, you have been given trophies for coming in 6th place in your soccer league and you expect a trophy for trying hard. In the real world, you don’t get gold stars for doing a good job.
6. Understand the Business
The group of leaders with whom we spoke told story after story of employees in their companies who really didn’t know what their companies actually did. One leader shared that every couple of months or so he does a developmental session with new employees who have been on the job for 90 days and asks them to conduct a classic “elevator exercise.” In the exercise, he says that the new employee just got on an elevator with the CEO of the company. The CEO asks two questions: who is the CEO of your company and can you tell me in 30 seconds or less what we do? The leaders shared that more than 50% of the time the new employee didn’t know the name of the CEO and that almost all of the business overviews were poor. It is critical to know these things and more about your company after the first day!
