Evaluating Our Lives, Both in Retrospect and Now...What About the Future?

In an earlier posting the question was posed: Life's Lessons or What Have We Learned So Far?
Whether as a CEO, Senior Manager or entry level individual, we need to consider these issues.

The only way we grow as a person and in our contribution to society, is by evaluating what we have done in the past, what we are doing in the present and what we plan to do in the future. Especially, reflecting on what we want to be doing and contributing now and in the future is a critical life valuing process. Otherwise we wake up one day and life for the most part has passed us by.

Like in business, we need a plan, a life plan. This can be highly detailed or a "fly-over" view, but its is a critical process to be done periodically. Just like the pilots of aircraft, while the plane may be off-course 90+ % of the time, they ultimate land the winged monster. Likewise, by planning what we want to accomplish in life we may be off course most of the time, but if we have visualized and plotted the course, then we arrive close to where we want to.

Life coaches can help in this endeavor, or you can tackle it yourself. A proprietary methodology has been developed which I use with those that I help. It is not rocket science, but it is valuable as it forces a person to look at not only desires, wishes and ruminations, but also possible world events and economics that could positively and negatively affect these paths.

Recently, the article below became available and hence I am sharing it here. For some it might be morbid, but in reality, isn't the final breath we take, a bit late to change course or our plans?

I post it here with the link at the bottom of the article. Hopefully, you will find it helpful in evaluating one's life and purpose.

Top Five Regrets of the Dying

Posted on November 22, 2011 

Top Five Regrets of the Dying
By Bronnie Ware
For many years I worked in palliative care. My patients were those who had gone home to die. Some incredibly special times were shared. I was with them for the last three to twelve weeks of their lives.
People grow a lot when they are faced with their own mortality. I learned never to underestimate someone’s capacity for growth. Some changes were phenomenal. Each experienced a variety of emotions, as expected, denial, fear, anger, remorse, more denial and eventually acceptance. Every single patient found their peace before they departed though, every one of them.
When questioned about any regrets they had or anything they would do differently, common themes surfaced again and again. Here are the most common five:
1. I wish I’d had the courage to live a life true to myself, not the life others expected of me
This was the most common regret of all. When people realize that their life is almost over and look back clearly on it, it is easy to see how many dreams have gone unfulfilled. Most people have had not honored even a half of their dreams and had to die knowing that it was due to choices they had made, or not made.
It is very important to try and honor at least some of your dreams along the way.

From the moment that you lose your health, it is too late. Health brings a freedom very few realize, until they no longer have it.
2. I wish I didn’t work so hard
This came from every male patient that I nursed. They missed their children’s youth and their partner’s companionship.
Women also spoke of this regret. But as most were from an older generation, many of the female patients had not been breadwinners. All of the men I nursed deeply regretted spending so much of their lives on the treadmill of a work existence.
By simplifying your lifestyle and making conscious choices along the way, it is possible to not need the income that you think you do. And by creating more space in your life, you become happier and more open to new opportunities, ones more suited to your new lifestyle.
3. I wish I’d had the courage to express my feelings
Many people suppressed their feelings in order to keep peace with others. Many developed illnesses relating to the bitterness and resentment they carried as a result.
As a result, they settled for a mediocre existence and never became who they were truly capable of becoming.
We cannot control the reactions of others. However, although people may initially react when you change the way you are by speaking honestly, in the end it raises the relationship to a whole new and healthier level. Either that or it releases the unhealthy relationship from your life. Either way, you win.
4. I wish I had stayed in touch with my friends
Often they would not truly realize the full benefits of old friends until their dying weeks and it was not always possible to track them down. Many had become so caught up in their own lives that they had let golden friendships slip by over the years. There were many deep regrets about not giving friendships the time and effort that they deserved. Everyone misses their friends when they are dying.
It is common for anyone in a busy lifestyle to let friendships slip. But when you are faced with your approaching death, the physical details of life fall away. People do want to get their financial affairs in order if possible. But it is not money or status that holds the true importance for them. They want to get things in order more for the benefit of those they love. Usually though, they are too ill and weary to ever manage this task. It is all comes down to love and relationships in the end. That is all that remains in the final weeks, love and relationships.
5. I wish that I had let myself be happier
This is a surprisingly common one.

Many did not realize until the end that happiness is a choice.
They had stayed stuck in old patterns and habits. The so-called ‘comfort’ of familiarity overflowed into their emotions, as well as their physical lives. Fear of change had them pretending to others, and to their selves, that they were content. When deep within, they longed to laugh properly and have silliness in their life again.
When you are on your deathbed, what others think of you is a long way from your mind. How wonderful to be able to let go and smile again, long before you are dying.

Life is a choice. It is YOUR life. Choose consciously, choose wisely, choose honestly. Choose happiness.
Original source – http://www.inspirationandchai.com/Regrets-of-the-Dying.html

CEO Survey Says that in the Next 3-5 Years, Talent Shortages, Limited Skilled Candidates are Major Impediments to Growth in Asia Pacific

In a recent Summit held for CEO's, specifically concerning Asia Pacific Economies (APEC), the results from 320 Industry Leaders who participated in the PwC survey, were revealing and in many ways consistent with earlier postings.

"Talent Shortages" was ranked 2nd in barriers to growth, however it is THE one area that can be tackled by corporations compared to the number 1 barrier(s) identified. The number 1 barriers to growth were: "Corruption" and "Inconsistent Regulations across the Region"(these barriers are beyond the ability of a corporation to effectively address).

The 2 major identified challenges to having the right talent in place are: "Competitors recruiting our best people" AND "Limited supply of skilled candidates." These were followed by: "Difficulty in deploying experienced talent globally" AND "Difficulty recruiting and retaining employees under the age of 30." "High Staff Turnover" in Fast Growing Economies will also be a major challenge that will need to be addressed.

In Mature Economies in Asia, a very major issue is: "Retirement of a significant portion
of the workforce." While not addressed in this survey, this also applies to North America (US and Canada) and Europe, with our aging and low growth populations.

So from this survey, it seems apparent that hiring those with good "job fit" to reduce turnover and increase retention, while also providing training to upgrade Leadership/Management skills in preparation for growth, will be critical. Long these lines, succession planning and strategic planning need to be exercised, expertly.

So how is your company positioned in addressing these issues? Have you planned for them and are contingencies developed?

A link to the entire study is: The 21st century workforce. Re-envisioned. Key findings from the APEC CEO Survey

Talent and Skills Shortages Number One Risk in Asia Pacific and 4 Other Risks

In the earlier post about Corporate Risks ( Global Risks to Consider and Recent Analysis by Lloyd's- Has Your Company Considered These? ) that need to be considered. It was identified that Lloyd's had ranked these Global Risks, but they also identified Regional Risks. The  image below came from the report that they assembled for 2011. It is very interesting that Talent and Skills is the Number One Risk for Asia Pacific, given the unemployment rate and educational levels in the region and the flood of youth coming up.

So, CEOs and Senior Managers need to seriously consider this, not only if they are planning to expand in the region, but also if new entries (start-ups) are being planned. It will require expert Succession Planning and Strategic Planning efforts to address this risk issue and the others identified, as well as Coaching, Mentoring, Training and Team Development for key corporate members to help fill this gap.

The BPO industry in the Philippines, identified several years ago, that while the industry could do a good job of hiring and filling entry level positions, when they promoted effective call agents, for example, these people did not have the managerial skills to handle a "Front-Line Manager" position. In many instances they were promoted to their level of "incompetence." So the bottle-neck to growth was not having identified and trained potential new managers soon enough to handle the high influx of new candidates for entry level positions.

Consequently, they changed their processes in Pre-Hire to identify 5-10% of the people considered for the entry level position(s), who had the right IQ and EQ to fit into their organizations, and who had good "job fit" with the Benchmarks/Job Pattern /Performance Modeling for not only the entry level position (significantly reducing turnover), but also for the Front-Line Manager position. They would "mark/follow" these people by observation and possible early training to assume the higher level position. This experience was possibly the early warning signs that Lloyd's seems to be now reflecting in their study, now.

For the Asia Pacific Region, Lloyd's identified the following 5 areas of major risks to be considered or addressed:
    1) Talent and Skills shortages
    2) Currency fluctuations
    3) Inflation
    4) Loss of Customers/Cancelled Orders
    5) Company Reputation Risk

As also highlighted in the area: CEO, Senior Manager, Leadership, Strategic Planning and Charisma , it is essential that CEOs, Senior Managers, and Corporate HR Managers identify at least 3-5% potential Leaders within each level of the organization (bench strength) in order to help address sustainability for the corporation. Without bench strength, just like for a sports team, while the top players are available and not injured, the team does well; but without the organizational depth and strength, it can result in high fluctuations in corporate performance over time.

The question remains: How Well Positioned Is Your Company for the Upcoming Forecasted Risks within the Region - Presently and for the ensuing 5-10 years? The future and investments are yours to make to position the company for growth and profitability! To ignore these risks could be at the peril of the corporation and organization.


Risks - Then and now: what has changed?

Global Risks to Consider and Recent Analysis by Lloyd's- Has Your Company Considered These?

Evaluating risk is critical for any company and industry, and it is a necessary component in any Strategic and Business Plan. Of course, if CEOs and Senior Managers are looking at acquisitions and investments, there are additional kinds of risks that need to be identified, evaluated, determined, and compared to the internal hurdle rate required/desired by the company. Some of these risks are:

    Country (political and financial)

    Industry

    Company

    Competitor

    Geographical (likelihood of hurricanes, typhoons, tsunamis and earthquakes)

    GeoPolitical

    Terrorist

    Utility Interruption

    Cyber

    Environmental

    Global

Lloyd's recently identified various risks in 2011, which have changed significantly from 2009. In 2009 the top risks were: the cost of credit, currency fluctuation (which has moved down to number 4) and insolvency.

In 2011, on a global basis, they have now ranked the areas as:

1) Loss of Customers (because of economic contractions and dwindling number of companies),

2) Talent and Skills Shortages,

3) Company’s Reputational Risk,

4) Currency Fluctuations

5) Changing Legislation

Talent, in particular, is a surprising find given the high unemployment rates around the World. As a result, the link to the entire study is below, as well as including the specific portion on Talent and Skills Shortages which is include below.

To not consider many of these risks, if not all of them, could lead to a major folly. Has your company evaluated and considered these on a regular basis? If not, why not? If nothing else, it leads to thoughtful ruminations, but hopefully much more than that!

"2. Talent and skills shortages

Talent and skills shortages

The prioritisation of ‘talent and skills shortages’ as the second most important risk facing businesses - and one of only two risks respondents felt insufficiently prepared for - begs many questions.
In a time of business mergers and record unemployment, the pool of surplus talent should, in theory, be significant. And yet, at the very top of organisations, there is huge anxiety about the suitability of available staff for the roles required.
Concern over talent or skills shortages could be due to a number of factors, some of which are discussed in the Index. Respondents across all sectors agree this is a significant and widespread problem.
The resulting business risks could include everything from poor product development to inappropriate risk management strategies.
Many sectors are waking up to the risk and taking action. Some companies, for example, are undertaking audits to identify staff at risk of being poached and targeting packages accordingly.
But prevention is just part of the solution and many industries are investing in processes to identify and train the talent they need from scratch."

Risks - Then and now: what has changed?

Keys to Customer Loyalty Drivers and the Need for Sales People Who Deliver Value

In an earlier blog posting  (Different Selling Techniques - Challengers vs Relationship Builders, vs Lone Wolves vs Hard Workers vs Reactive Problem Solvers ), it was identified that "Challenger" Sales people were more successful than "Relationship" Sales People and other types of Sales people and customer service.

Obviously, a reasonable relationship needs to be maintained with a client, because otherwise, anything that the Sales Person may present to the client will be dismissed or not considered, or at most....the client will not allow a Sales Person to even meet with them to hear what they have to say. Given today's market place, just getting in the door to decision makers on any level, is much more challenging given the time constraints in heavily over worked and matrixed buying decision makers.

The context of the "Relationship Manager", however, is a person who builds a good rapport with the client but that is about all. This type person may answer questions about the product/service and help in simplified ways, but little more is provided. The needs by purchasing, or the customer, has become much more complex and as a result, more is being expected by a supplier than in the past.

Alternatively, in certain cases, the product/service may be viewed as a commodity, in which case the buying decision is driven mostly by price.

In recent research from the Sales Executive Council, this research has determined that the customer driver for loyalty for a supplier comes largely from the experienced Sales Person and amounts to a 53% loyalty influence. These Sales People demonstrate and provide significantly more support to the client by giving:
1) a unique value proposition(s),
2) navigating alternatives for the client,
3) avoiding landmines (how to use the product without problem(s))
4) demonstrating and showing a better understanding in how to use the products in unique or unusual way(s),
5) an easy methodology to buy from, and
6) the supplier has widespread support within the organization (i.e. depth of penetration at the account) on multiple levels.

In comparison, the other factors like: Company and Brand (19%), Product and Service Delivery (19%) and Value-to-Price Ratio (9%), were significantly lower in influence.

So the key to developing a strong and lasting relationship with the client is to demonstrate ways to use the product and service in ways that may not be immediately apparent to the client, or by highlighting the product in new and maybe more complex ways. However, it is also always better to penetrate the client on multiple levels than with just the single apparent buying decision person(s). While none of this is overly surprising, it it is helpful to refresh how to better serve the client by gaining their support and loyalty.

Building and developing strong Sales Teams along these lines will most likely be keys to success in the present, more complex and global World marketplace.

Algorithms and Their Effect on Searches Engines and Social Media and What You Get in the Way of Results

As we broaden our marketing efforts on social media sites, and even as simply as using a search engine, we need to be aware of the effect that Algorithms are having within the the global internet.

We can understand the possible need by these websites and search engines to customize results to yield more items that meet our needs and interests, given the vast amount of information available today. Still we need to make sure that we are cognizant about the "results" that we get and realize that they are just a small view into into a vast World of information.

A friend recently sent me a link to a YouTube video (see below) which highlights the ramifications for all of us, from CEO and Senior Management on down. How to combat it? Is there a way?

At times we get Google requests if we want to focus searches on the country where we are located, or Worldwide. But, with the ongoing revelations about FaceBook changing privacy settings without approval as an example, we will most likely need to be constantly vigilant to make sure that we are protected while also getting the necessary information we need, not "customized" to a person's or company's view, as there may be a lot of critical information that can be overlooked or not made immediately available to us.

This kind of "slant" on information provided to us, can have significant effects on strategic planning and in particular, competitor analysis, succession plans, and other areas of our strategies. Consequently, we need to be aware of how this kind of "customization" by providers can skew our perspective of the World, allowing us to be blindsided at times, especially if the information is not verified by direct customer contact and information gathering techniques. Reliance on single sources like the internet may not afford us an adequate view of the world to thwart the rise of competitors from unknown areas of the marketplace.

Being informed about how search engines and social media works, is essential in our new quest to use this powerful media and how we communicate. Enjoy the video below:

What FACEBOOK and GOOGLE are Hiding from world