Clinton Korver wrote a great article for Harvard Business Publishing. He talks about his experience running a start-up and why it’s especially important during tough times to share information with your employees. He says that he went against the advice of his venture capitalists. They feared losing employees, customers, and other investors if the bad news got out. Clinton found that being completely forthright strengthened his relationships with his employees. —— —— One of my radio managers did that when our company wasn’t doing so well. I appreciated the honesty and how it put all of us on the same page. —— Honesty is high on most of our lists of core values. However, do we really think that we should always be honest? For example, picture yourself standing with your best friend adoring her newborn baby boy. You think he’s the least attractive baby you’ve ever seen. She’s going on and on about him, when she asks you the dreaded question … Isn’t he the best looking baby you’ve ever seen? Would you tell her what you really think? Or would you pick your words carefully to avoid hurting her feelings? Of course, this is a different situation than the first one presented – being honest with your employees, even when things are not going well. But it illustrates that there can be a second value at stake – the desire to not cause undue harm. Is there a reason to tell your friend what you really think? What good will come from it? —— I’ve come to believe strongly in open-book management. As a general rule, I think the more you share with your employees, the better. Having said that, I have found you also have to know your employees. Open-book requires a higher level of maturity from your employees. If that’s not present, sharing more just creates undue emotional distress. —— The reason an ethical dilemma is a dilemma is because two or more core values at odds with each other. These situations flow up to the leader. You have to find a good solution. It’s a personal decision. There likely will be disagreement on the best way to handle it. That’s why it’s so important to have a framework in place for these kinds of decisions. This framework will help you: be more efficient in making decisions like this make decisions that are consistent instead of all over the board build goodwill with all affected parties respect the face you see in the mirror at the end of the day We have a great resource that helps you set up the framework so when an ethical dilemma comes your way you’re prepared. It outlines the three steps to solving an ethical situation: Know your core values Select an ethical model that helps you apply those core values Use a problem-solving process to work through the situation at hand So we’ve presented an ethical dilemma today … should you share all news with your employees, even the bad stuff? What do you think? Subscribe to The Bigg Success Show in iTunes.  Subscribe to the Bigg Success feed. Related posts How to Attract and Retain the Next Generation of Talent If You Want to Increase Your Profit, Don’t Put Your Customers First Keep Your Employees Happy And Watch Your Profits Grow! (Image by darktaco) Less

The financial news seems to be all gloom and doom these days. The reports are that we’re not in a recession, but times are tough for a lot of people. No matter how tight things get, we still have bills to pay. People are responding to this very intelligently. They’re turning to public transportation, eating out less, seeking cheaper forms of entertainment, and cutting back on unneeded items. But what do you do if that isn’t enough? .  .  Tapping your retirement plan … It’s tempting to pull money out of your retirement plan, like a 401(k), especially if you change jobs. In fact, about 40 percent of job changers in their twenties and thirties have done just that, according to a recent report by the Financial Industry Regulatory Authority (FINRA). … could cost you $130,000 … If you’re under 59½, it’s usually not a good idea to cash out your retirement plan. Let’s look at the example that FINRA used: You’re 30-years old with $20,000 in your 401(k). If you earn just 6% on that money until you retire at 62, you’ll have nearly $130,000 in your account, without making any additional contributions. … and then some! Of course, you can start over. But you lose the power of money compounding on top of money on top of more money, all accumulating tax free until you take it out. So it’s like taking at least two steps backward. But that’s not all. Here are 4 other steps back: You’ll have to pay income taxes out of this money, since it was invested pre-tax. There’s also a 10 percent penalty for early withdrawal (unless you’re over 59½) Your employer is required to withhold 20 percent toward income taxes. If you owe money, your creditors can’t touch your 401(k) unless you cash it out. By the time you get a check, that $20,000 will probably be more like $14,000 net of everything. So cashing out of your retirement plan is a short-term solution with long-term consequences.  Subscribe to The Bigg Success Show in iTunes.  Subscribe to the Bigg Success feed. Related posts 63 Moves to Stop Living from Paycheck to Paycheck Don't Make This Costly Mistake  (Image by nighthawk7) ShareThis Less

Today on The Bigg Success Show, we welcomed Phil Rosenberg. Phil is the founder of reCareered, a career coaching service that helps job searchers get past the biggest challenge in today’s competitive jobs market – to get noticed.   Phil, what does reCareered mean?     It means someone who is seeking a job change, or trying to revitalize their career, or someone who is between jobs and wants help with how the job markets have changed in the last eight years or so.   How has the job market changed?     Eight years ago, the majority of resumes were delivered on paper. Around 2000, it changed to where most resumes were delivered digitally.   And how does that change the resume itself?     It changes it completely. The paper-based resume had to be static. The only way to customize it was by a cover letter. A digital resume can be searched. It also increased the number of resumes that went into most companies, by as many as ten-fold.   We always hear about search engine optimization and how you want to rank at the tops of the pages for Google. But apparently you can do the same for your resume … it can be optimized?   You bet, and it’s especially critical in today’s world. Most major employers get thousands of resumes for each job, but they only staff to look at twenty to thirty. That’s two to three percent. So your goal, in submitting your resume today, is getting to the top two or three percent. Through resume search optimization, you can manage that process rather than have it be random. My strategy with my clients is to make a resume a single-use document – to have it infinitely customizable so that you’re gaming the search engine and forcing it higher up the search page.   How do we make a good impression right upfront?     There’s been research from the University of Toledo and Stanford University that states that interview decisions are made within the first two to thirty seconds. That blew me away. The rest of the interview is just somebody justifying their initial decision. So it’s a “gut feel” decision that may occur even before you shake hands. It’s all about preparation. Learn about your client – how they communicate (verbally and non-verbally), how they dress, how they look. If you want a job, go to a place that’s close to their office and sit there during lunch. Talk to people from that company who are getting lunch there. On a Friday night, go to Happy Hour at a bar close to their office and talk to people from that company. When you talk to them, watch their body movements. What’s the tone they use? What’s the speed they use to talk? You can also do that with their written communication – their web site, annual reports, press releases. The key to all this is communicating to your audience that it seems like you already work there.   It reminds me of the book, Guerilla Selling. It’s all about learning about your customer, in that case, but in the case the employer you’re going after – getting as much information as you can, wherever you can. It’s amazing how much information you can gather.   Sure. That’s also an effective way to use LinkedIn, Facebook or your own personal network. Chances are you have contacts within that company. A lot of people only use those contacts to see what jobs are available and to ask them to pass their resume along. They leave out some of the greatest uses of a network – talking to people within an organization to find out what an organization is like and what the communication style is like. Listening for how they’re answering questions rather than just what they’re saying.   This is fantastic advice because you do want to fit in. It’s all about mimicking. When you’re at an interview, should you sit up straight and lean forward or should you try to have your body language be similar to the body language of the interviewer? From what I’ve read, you should try to mimic that person.   That’s exactly what you’re doing – it’s called mirroring. You’re trying to show that you fit in. You speak the same language. You’re really trying to act like you already work at the company. It takes a ton of preparation. A lot of people aren’t willing to put that preparation in, but the people who do get a huge, almost an unfair, advantage. Phil's links You can get free daily job tips from Phil at his blog or visit his main site, reCareered, the place for resume search optimization and job search 2.0.  Subscribe to The Bigg Success Show in iTunes.  Subscribe to the Bigg Success feed. ShareThis Less

Bigg Challenge Rick has been a manager now for about six months. He has an employee who is under-performing. Rick thinks he may need to fire this employee, but he’s never done that before. He says he would welcome any suggestions we can provide. Bigg Advice Do you remember the Cheers episode where Norm Peterson became the executive’s executioner – his job was to fire people. So he took them out for drinks and, by the time it was done, the employee who was being fired felt sorry for Norm. Because as Norm once said, “It’s a dog eat dog world and I’m wearing Milk Bone underwear.” So there’s one option, but not one that we necessarily recommend for the real world! Company procedures Look to your company’s policy manual for guidance on how to proceed.  Also, discuss this with your boss so you fully understand company protocol and precedents. No surprises Except for the most egregious situations, you’ve done something wrong if it’s a surprise. To make sure they’re not surprised, you should follow a process. For example, issue a series of warnings with repercussions for not correcting the performance deficiencies Round and round we go Sit down with your employee and explain the problem. Discuss what needs to be done to correct it, tell him or her when you’ll review performance again, and outline the consequences if it’s not corrected (e.g. a 3-day suspension without pay). At the scheduled time, repeat this process. This time the ramifications have to be greater. (e.g. termination of employment). So if you reach this review and the situation hasn’t improved significantly, the result should be obvious to your employee. You’re giving them a chance to improve their performance and also covering your liability because you’ll document this entire process and have them sign off each step of the way. An example George said that in his early days in business, he was managing his field staff. They worked without direct supervision because they performed work at the customer’s home or office. George had hired a young man who just couldn’t work without ongoing oversight. George went through the rounds outlined above with little improvement. Finally, he let the employee go. He recommended that this young man get a job in a place where someone could watch over him. He encouraged the young man come back and reapply for employment once he got used to working in a supervised environment. That never happened because the young man found that he liked working with supervision better. Firing someone doesn’t have to be negative. Offer any help you can provide. Make suggestions. And realize that sometimes it’s just not a good fit – it doesn’t mean they’re a bad person, or that they couldn’t be helpful to any employer. It just means it’s not working out for both of you here. Thanks, Rick, for sharing your bigg challenge. We’re sure you’ll handle it just fine. Do you have a bigg challenge? Tell us so we can help. Type it in the box and hit submit to send it to us. Your Name (required) Your Email (required)   cforms contact form by delicious:days Related posts The One Minute Manager and Corporate Layoffs How to Offer Criticism Without Being Critical  (Image by w00kie, CC 2.0) ShareThis Less

A lot of attractive people complain that people assume things about them without getting to know them. It’s assumed that they’re unintelligent, superficial, and even arrogant. You’ve been given the gift of physical attractiveness, which has to mean you’re lacking in other areas. In the social world, you’re just the pretty boy or girl. But does that perception carry over into the professional world? Is there a bias against people who are good-looking?   Green Without Envy Economists Markus Mobius of Harvard University and Tanya Rosenblat of Wesleyan University did a study to see how looks affected the hiring process. They divided participants into five groups: Two of the groups never saw a photo of the candidate or the candidates themselves The other three either saw the candidate’s photograph or in-person. The groups who saw the candidates were much more likely to hire the more attractive candidate, even though the less attractive candidate was just as qualified. These employers predicted that the attractive candidates would be more productive, and would be rewarded for it with higher pay. Even Greener Pastures Daniel Hamermesh, an economist at the University of Texas, is one of the world’s foremost authorities on the economics of beauty. Dr. Hamermesh has focused on how beauty effects financial success in the workplace. His research confirms the results of the study we just referenced – that beauty gains an advantage because the doors of opportunity open more frequently. So they make connections, learn skills, and grow professionally. Then they’re able to leverage that first opportunity into many more opportunities, which results in even higher pay. He also offers little hope for the unattractive. His research has shown that spending money on things to enhance your looks is a waste. You’ll only get back about 15 cents in pay for ever dollar you spend. Our bigg quote today is by an unknown author: “We could learn a lot from crayons; some are sharp, some are pretty,some are dull, while others bright, some have weird names, but they all have learned to live together in the same box.” The more colors you have, the more colorful your world can be. Questions for you Socially, we often hear pretty people complain that they’re discriminated against. But research seems to show that it works to their favor in the workplace. From your experiences, do you think good looks are an advantage or a disadvantage? Is there a difference between men and women? Are good looks more important in the workplace for men or for women? How about age? Is this something you think affects young people more than older workers or vice versa? What do you think of Dr. Hamermesh’s finding that it doesn’t pay to try to package yourself better? Do you think it makes a difference? Share your thoughts by leaving a Comment. Subscribe to The Bigg Success Show in iTunes.  Subscribe to the Bigg Success feed. Related posts The Confidence Game The Single Most Destructive Thought You Can Have Where Are You If You Ain’t Where You Are The Greatest Miracle In The World (Image by svilen001) ShareThis Less

  Bigg Challenge:  We received an e-mail from Patrick, who was approached about a job. He met with the prospective employer and accepted their offer. Then he got an unsolicited counter offer when he told his current employer that he was resigning. He wants to know if he should accept it. Bigg Advice: Congratulations, Patrick! Isn’t it nice to be wanted? It sounds wonderful, but the reality is that it can be quite stressful. We feel the need to preface our comments – we can give you general advice, but only you can decide which offer you should accept. Why did you accept the offer from your prospective new employer? It’s unclear from the e-mail why you wanted to leave. There are many possible reasons why you may have been drawn to your prospective employer’s offer. Was it money? Maybe you were unhappy at your current job – you just hadn’t started actively searching yet. Perhaps the new job seemed like a better opportunity. We’ll assume that if was a combination of these factors. Why did your current employer counter? We can think of two possible explanations for your employer’s counter offer. First, they may be buying time. Perhaps they’re not prepared to do a search now. The timing is bad because of current business volume. There could be any number of reasons for them to buy time. Just be aware of this. Second, they may truly value you. They really don’t want you to go. They’ve invested in you – you’re part of their future plans. It’s hard to judge intentions. Assume the best, but keep the worst in the back of your mind. Get it in writing. Negotiate your counter offer as if it was a brand new job. If you’ve been promised more money, it will be easy to judge whether they come through. It’s more difficult with other factors. You may want to travel less. Maybe you want more flexibility. Or you need more time off. Perhaps it’s growth opportunities that you seek. These factors are harder to deliver. So ask your current employer to put their offer in writing. Tell them that you appreciate their counter. You want to fully evaluate it. You prefer to stay with them, but you want to know that you’re making the right decision. Seeing it in writing will help you do that. Maintain your relationships. We don’t believe you should let your prospective employer know about the counter offer. They probably expect that anyway. However, you should make your final decision very quickly. Somebody will have a position to fill. Lingering only makes that a bigger problem. Whatever you decide, don’t burn bridges with the affected party. Thanks for sharing your bigg challenge with us, Patrick. We hope our bigg advice helps you! Do you have a bigg challenge? We’d love to help. E-mail it to bigginfo@biggsuccess.com Our Bigg Quote today is by Karl Albrecht. “Start out with an ideal and end up with a deal.” You’ve been dealt a good hand. Play your cards well. Maintain your poker face. Draw from within and then place your bet. Next time, we ask you, “What’s your pickup line?” We’ll discuss how to grab someone’s attention with a great opening line. Until then, here’s to your bigg success! Related Posts: Bigg Solutions ShareThis Less