64_ by The Executive

Issue No. 64 - 2015

Where have all the Followers gone?

• Long Live the King of British Newspapers: p.6

John Andrews

• Create an irresistible “Elevator Speech”: p.17 Jill Konrath

• Experience or Attitude? What to look out for in the Selection Process: p.38 Calvin Cassar

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Issue No. 64 - 2015

The Executive

Editor’s Letter

s being a leader a cushy job nowadays? I think not; the business leader has collective performance pressures rather than individual or departmental ones. So at times I feel that the added burden of strenuous heart-pumpings to our leaders is not compensated sufficiently by the feelings and benefits of self-actualisation and the financial rewards they gain by handling such roles. Whilst many of us are the high-flyers of our little island, many more are well-placed executives. For those of us who have reached or surpassed the 45-year age demographic of The Executive’s average reader, it is high time for us to succumb to whatever it is that life threw at us, or to whatever we’ve made out of it. From here on, chances are that breakthroughs in our careers will not happen. And dreaming for more is most probably just that - a dream. How many of us push our children to become good followers? Not many, I would think. And yet the people I envy today aren’t the top dogs of our businesses. They’re either specialists who tend to be the pillars of their employment, or line managers who are strong performers and whose levels of stress are synonymous with the lower level of responsibility that is bestowed upon the role. Whilst such things should not deter our folk from seeking higher rungs on the ladder of personal growth, we are shown by “Where Have all the Followers gone?” the sheer indispensability as well as the highly respectable connotations of being professional followers rather than the leaders and champions of the show. I would also like to take the opportunity to thank John Andrews for allowing me the pleasure of having interviewed him. Enjoy your read.

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Jason Attard

editor@the-executive.biz Published by:

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Issue No. 64 - 2015

CONTENT

The Executive

INTERVIEW WITH AN EDITOR

SELLING

17.

Long Live the King of British Newspapers

Create an Irresistible “Elevator Speech”

John Andrews

Jill Konrath

Experience or Attitude?

PEOPLE

What to look out for in the Selection Processes

Where have all the Followers gone? Giambattista Bufalino

Calvin Cassar 38.

29.

COMPANY HIGHLIGHTS J M Vassallo

Valletta Fund Management

EuropeanFunds.info & 3a Malta

The What’s What Series on European Funds

High-Strength Modular Panels:

VFM representatives attend a

the EVG-3D Construction System

Training Programme in London

pg. 15

pg. 37

www.the-executive.biz

pg. 47 The Executive 5

Issue No. 64 - 2015

The Executive

Interview with an Editor: John Andrews

Long Live the King of British Newspapers by Jason Attard One may argue that the principles of good business practice are synonymous throughout all industries; that the strategies and styles adopted in managing people ought not differ from one business to another. And yet, manufacturing companies are predominantly more hierarchical than service providers, whilst iGaming firms are typically more hedonistic than audit ones and are far less formal, though turnover figures are in the highest of brackets and professionalism nonetheless prevails throughout all aspects of their conducting business.

I reckon that this further stems from two factors: the base needs of different strata of employees become more complex alongside both the increased complexity of employment and the level of specialisition of the individual; and ‘industry type’ induces bargaining power to hop from the hands of the employer into those of

the employee.

Indeed, Maslow’s Hierachy of Needs and Porter’s Five Forces have been harping on at us about this for years.

The Executive interviews John Andrews, Consultant Editor for The Economist, not only to have his views on his profession but more so to garner his insights into such matters.

he Economist works with champions of the trade of writing, academia and correspondence. And yet, in the ‘About The Economist’ section online, one reads “Why is it anonymous? Many hands write The Economist, but it speaks with a collective voice. ….. The main reason for anonymity, however, is a belief that what is written is more important than who writes it.” How does one manage to convince, or attract market-leading writers to so interact? John explains that sometimes, of course, Economist journalists get hired away but it’s relatively rare. “The attractions of The Economist are the intellectual challenge of writing articles to be proud of; a collegiate atmosphere free from the jealousy and back-biting that characterise some other newspapers; and, of course, competitive salaries.”

6 The Executive

So the champion’s desire to be part of a glorified entity is stronger than that of self-actualisation. Are your champions managed any differently from the team in general? And how so, if they are at all managed in the traditional sense? John doesn’t think there to be any deliberate differences. Some writers are doubtless more gifted than others, or have more specialised knowledge of a particular area — but the joy of The Economist is that everyone’s voice can be both raised and heard. I ask if he agrees with the argument that it goes against the very nature of champions to become embodied within the team. He does not. “If you take the analogy of team sports, even the greatest stars rely on the rest of the team. Cristiano Ronaldo and Lionel Messi need their team-mates.” www.the-executive.biz

Photo by cngfotography, supplied by Hazlis & Rivas and CP Events, Co-organisers of The Economistâ&#x20AC;&#x2122;s Malta Business Summit

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Issue No. 64 - 2015

The Executive John Andrews is a consultant editor for The Economist, the prestigious British weekly and is one of its most experienced foreign correspondents as well as co-editor of ‘Megachange: The World in 2050’ amongst many others. This has put him at the helm of a weighty structure of leading economists, journalists and contributing academics. Should an editor be involved in the choosing of contributors? “A newspaper is not a democracy; the monarch is the editor.” Outside contributors - a rare instance at The Economist - should be chosen on the value they can add to a debate, or the explanation they can give for a particular situation. There is no point in having a “big name” solely because of the name. Very true, I thought, as I recalled processing content from big names with messages which are far less valuable than those extracted from submittings derived from lesserknown professionals. Should the editor of a publication have any involvement with the sales team? Should content directly facilitate sales? Does it at The Economist? He explains that the editor (including the editor of The Economist) should always be in touch with the sales team, and should seek to promote circulation by appearing on TV, etc. But the editor should be careful always to ensure editorial independence: you must never run articles on watches in the hope of getting more watchmakers’ ads! And you must not confuse sales with advertising. “It’s important for the editor to have good relations with the advertising and production teams, but he/she has to maintain a very strict “Chinese wall” between editorial and advertising.” John finishes off my question by saying that both circulation and shareholders’ dividends ultimately depend on the credibility of the editorial content.

Long Live the King of British Newspapers

Which writer ‘type’ do you prefer working with? He has no preference. “Diversity is the spice of life!” Rather than distinguishing themselves inherently from each other, he thinks that “if they are good journalists they are curious about the world — which is exactly the characteristic of a good academic.” Executives seem to thrive on order and structure. And yet too much of it dulls the brain. It is with this in mind that this journal’s mantra has always been ‘Creativity married with Conformity’. Has The Economist’s style of writing and of design changed much over time? “The writing style has been remarkably consistent over the decades, but there have been major changes in design (eg, moving to full colour and changing the typeface). The trick in making these changes is to give the impression of evolution rather than abruptness.” John argues that the editor should be involved in matters pertaining to design too, as well as in the selection of designers: “Design is extremely important and the editor must be comfortable with it.” He believes that it’s important to be creative in terms of covers, photos, captions — but one should not exaggerate a design just to create an effect. “There has to be editorial justification.”

“

A newspaper is not a democracy; the monarch is the editor.

”

Publications which are only secondarily concerned with lifestyle matters tend to work with individuals who are firstly academics and secondly journalists rather than vice versa. I have found these skillsets to instil diverse traits into their owners, or perhaps what I indeed found is that academics as well as journalists came into their respective professions because their individual character traits; predominant within the sectors of academia and journalism, pulled them into those roles. I ask John if his writers (and correspondents) are primarily journalists or academics. “They are a mix in their background, but write primarily as journalists,” he explains. “A PhD scientist hired for the science and technology section has to write in a way that will appeal to nonscientists as well as academics; that PhD scientist may later be transferred to a different section, or to a foreign posting, where his or her scientific qualifications are irrelevant.” www.the-executive.biz

Photo by Nina Adams at New Shed Photography, supplied by Hazlis & Rivas and CP Events, Co-organisers of The Economist’s World in 2015 Gala Dinner – Malta The Executive 9

Issue No. 64 - 2015

The Executive

Long Live the King of British Newspapers

John’s own Prospectus for today’s editors in the business world:

• Be intellectually rigorous; • Hire smart people; • Challenge received wisdom without being compelled to dismiss it; • Be internationally minded (we live in a global economy); • Be independent of business interests (journalists should not write on companies in which they have investments, but should not be forbidden to have shares);

• Be willing to speak truth to power; • Be aware of the need to evolve in a media market that is always changing; • Keep the publication’s values sacrosanct.

As to what John thinks of creativity in editing, “Good editing can really ‘lift’ an article, but it should always be careful not to introduce errors. If there is any change to the analysis of an article, it must first be discussed and argued through with the author.” Though quite subtle in nature, The Economist has made use of some of the world’s most daring front covers. The one carrying copulating camels comes to mind (’The Trouble with Mergers’, September 1994). “The editor must be involved choosing the cover. At The Economist there is a Monday morning meeting to discuss cover ideas — but ultimately the choice is the editor’s.” John finds it hard to choose his favourite The Economist cover, “because there have been so many fabulous covers. I think my favourites are probably the copulating covers (discussing mergers); the man who screwed an entire country (Berlusconi); and greetings, earthlings (Kim Jong-Il).” As he has evidenced a firm understanding of the strategic implications of good design, I prod on with design questions. On why The Economist switches between ‘left-aligned’ and ‘justified’ text, “It’s a design choice. I think the left-aligned gives a sense of brightness to feature boxes and to the letters columns, while justified text gives weight to the main articles (but that’s frankly a guess on my part!).” And on whether design ought to facilitate the understanding of content; to clarify and even enhance it, he believes that it is not there to simply space-fill, or to beautify an otherwise bland read. 10 The Executive

“It’s important to give visual flair to a page, which therefore puts a premium on design and lay-out. I hope that The Economist never goes in for ‘space-filling’: the usual problem is to cut, not to add!” Does John see a difference between British and American styles of writing? “There are perhaps some subtle differences,” he muses. “The British style, I would venture to say (and, of course, I’m British…), contains perhaps more wit and humour. American journalists writing for American publications sometimes take themselves too seriously…When they write for The Economist they usually get infected by the British style. John is an engaging and effective chairman (he has also chaired The Economist’s events in Malta) whose moderating skills have been honed over many years of involvement in business conferences and debates for The Economist. The role involves much of guiding and prodding people into the right, or wanted direction; and this is evident in his take on the guiding role of the editor. Do you allow your contributors to have their own styles? Or is it more of a question of integrating individual styles into that of the publication? “There is an Economist style, but there are plenty of variations within it. Most staff journalists quickly absorb the style; freelancers (trying too hard to adopt the Economist style) very often do not, and so find their copy at times heavily edited. He only agrees with the journal’s original mantra of leaving writings of acclaimed champions as untouched as possible up to www.the-executive.biz

Issue No. 64 - 2015

The Executive a point. “There is no value in changing copy for the sake of changing it — but no writer should be immune from the improving pen of a colleague.” From “advocates of free trade” to the “European organ” of “the aristocracy of finance”, The Economist has been accused of having various objectives, some more flattering than others. Yet amongst the thirteen factors listed within its original prospectus for editorial coverage of 1843, one finds ample evidence that it “look(s) mainly to an improvement in the condition of the people”, and that it battled against legislation which it found to do otherwise. Is the original prospectus still relevant today, I ask? “Absolutely!” he says. “It’s important to challenge ignorance and to underline our values.” Karl Marx had in his 6th chapter of ‘The Eighteenth Brumaire of Louis-Napoléon Bonaparte’ accused The Economist of being at the heart of “All modern finance, the whole of the banking business”. Was the accusation factual? And would it still stand today? “I’ve no idea whether Marx was right! Today we are an important commentator and analyst of the worlds of politics, economics and finance. But we are not so arrogant as to think we are the only such commentator and analyst. Pride comes before a fall — and we’ve managed not to fall for more than 170 years…”

Long Live the King of British Newspapers

Aspects to John’s Experiences which are relevant to the general business world:

• The ‘Creativity’ and ‘Perusal of Inner

Talent’ elements of field leaders’ typical self-actualisation needs are indeed stronger than the ‘Recognition’ elements of their self-esteem ones.

• A collegiate atmosphere free from jealousy and back-biting, and, of course, competitive salaries, are fundamental to high levels of staff retention.

• “Even the greatest stars rely on the rest of the team.”

• There is no point in having a “big name” solely because of the name.

• Both the satisfaction of the end-user as well as the shareholder is ultimately dependant upon the quality of the delivered product.

• Specialists should also be competent in other relative fields of work.

• “The trick in making (these) changes is to give the impression of evolution rather than abruptness.”

• “If there is any change to the analysis

of an article, it must first be discussed and argued through with the author.” Likewise, when internally wanting change, one should always discuss and argue it with the product creators.

• Individuals who try too hard to adapt to a base style very often do not.

• “...no writer should be immune from the improving pen of a colleague.”

• “Pride comes before a fall.”

“ I think my favourites are probably the copulating covers (discussing mergers); the man who screwed an entire country (Berlusconi); and greetings, earthlings (Kim Jong-Il).” www.the-executive.biz

The Executive 11

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The Executive

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Issue No. 64 - 2015

The Executive

COMPANY HIGHLIGHT: J M Vassallo

High-Strength Modular Panels: the EVG-3D Construction System

J M Vassallo is recognised as the leading local supplier of steel reinforcement and structural elements in the construction industry. The company was established way back in 1969 and boasts of a history of substantial projects. The company structure is based on three companies which are JM Vassallo Vibro Blocks Ltd – this is the parent company and manufacturing arm, JM Vassallo Vibro Steel Limited which is the trading company and finally CMT Laboratories Limited which is the Quality Control and Mechanical Testing arm of the group.

ver the past decades, JMV has consistently focused its efforts on manufacturing and the local market has always been well provided with a very reliable and efficient supply of construction materials. The company operates from a massive 20,000 square metre complex in Zebbug with substantial investment in new and innovative steel processing equipment. These include: mesh welding equipment, rebar processing lines, and steel section cutting and drilling lines to cater for the local construction industry. The most recent investment involved the introduction of an EVG 3D Wall and Slab Panel manufacturing line used exclusively for the manufacture of the EVG 3D Construction System.

The EVG-3D Construction System

It has always been the group’s main objective to source materials of the highest quality available in the market and ensuring that they conform to the highest standards. The group also operates an ISO 9001 Quality and Traceability System.

Strength and rigidity of the panels result from the diagonal truss wires welded to the cover mesh layers on each side of the panel combined with the concrete layers, thus ensuring the effective transfer of the shear forces for a full composite behaviour. Lateral forces are absorbed most effectively by the EVG-3D shear walls. The EVG-3D Building System provides a robust system that has a high resistance to hard and soft body impacts likely to be associated with normal residential and commercial use situations. The EVG-3D Construction System is expected to remain durable and serviceable for at least 50 years. All EVG-3D components meet the requirements of the relevant building codes and International Standards.

JMV Group has built a sterling reputation throughout the years, particularly for quality products and reliability in production and supply, making the group the leading point of reference in the local construction industry. As suppliers to major local contractors, JMV’s products have been used in the majority of local projects, and has over the years collaborated with various reputable European companies.

The EVG-3D Construction System is a cost-effective construction system offering a well proven building method using high strength, load bearing modular panels. The EVG3D Construction System consists of panels with a layer of galvanized mesh on either side of an EPS core, welded together by galvanised steel diagonals (trusses) which penetrate through the EPS core. The panels are joined in the desired configuration on site and sprayed with concrete to form a sandwich type construction.

For further information, contact the JMV Group on t: (+356) 21467 421, via email at sales@jmvibro.com, or visit the web site www.jmvibro.com www.the-executive.biz

The Executive 15

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Issue No. 64 - 2015

The Executive

SELLING

Create an irresistible

“Elevator Speech” Jill Konrath

“So What Do You Do?” Now that’s a million dollar question! If you answer it correctly, the thick walls protecting the inner sanctums of big companies come tumbling down and the red carpet is rolled out for you. Answer it incorrectly and you get stuck on the outside, envious of those who managed to get in and wondering why no one wants to meet with you. www.the-executive.biz

The Executive 17

Issue No. 64 - 2015

Create an Irresistible “Elevator Speech”

The Executive

veryday you meet people who could use your products or services or who know others who could benefit from what you do. But unless you tell them what you do in a clear, concise and compelling manner, these relationships go nowhere. That’s why you need an elevator speech – a short description of your business that enables prospective buyers to know who you work with and what value you bring to the relationship. An elevator speech conveys these marketing messages in a manner that literally attracts the right customers to you. In today’s fast-paced world, the average person is bombarded with thousands of marketing

messages from multiple mediums every single day. Advertising is everywhere – television, radio, road signs, email, banner ads, direct mail, clothing, pens, newspapers and magazines. These pervasive, and often intrusive methods of capturing attention have created a backlash; most people don’t even notice them anymore. To break through all this marketing clutter, it’s imperative to have an enticing elevator speech that speaks directly to the needs of your customers. And, it has to roll off your tongue easily, naturally and conversationally. Many people intuitively know this, but still struggle with how to respond.

Sellers often fail to be sufficiently well-prepared and struggle to deliver.

that something you say piques your prospect’s interest would undoubtedly back-fire. Do not try too hard to impress your prospects with your own importance; most people don’t like the implications of intellectual superiority or elitism. They’re intimidated by the big words and won’t ask questions that might make them look stupid. Every seller should seek to become an ‘Attractor’ with an enticing elevator speech that will invite and stimulate further discussion. The success of your elevator speech depends on your ability to craft a message that offers a strong promise of benefits to your target market. A really good one immediately differentiates you from your competitors.

www.the-executive.biz

The Executive 19

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Issue No. 64 - 2015

Create an Irresistible “Elevator Speech”

The Executive

“

Ramblers babble on-and-on, seemingly unaware of their affect on prospective buyers.

”

Classic Elevator Speeches Let’s take a look at the classic elevator speeches people give to the “What do you do?” question. This will help you understand why you may not be attracting as many customers as you’d like. The Minimizer Most people are Minimizers. They position themselves by either their title or by their products/ services. Minimizers’ elevator speeches are brief and factual. Knowing their elevator speech needs to be short, they give the most concise response possible. They really dislike “puffery” and bragging too. Here are some common Minimizer responses to the big question: • “I sell software.” • “I’m a consultant.” • “I’m a mortgage broker.” • “I’m self-employed.” What’s wrong with the Minimizer’s elevator speech? When you lead with your title, most people immediately assume they know what you do. As a consequence, they’re typically not too interested www.the-executive.biz

in learning more. Plus, many jobs have really negative connotations. When you position yourself by the products or services you sell, you immediately put yourself into the same category as your competitors. How many other web designers are there? How about printing salespeople? Marketing communications companies? IT specialists? Placing yourself in the same category as your biggest competitors makes you a commodity. If someone needs what you do, they immediately want to know how much you charge or what your price is. No matter what you say, you’re in trouble! Buyers automatically compare your price tag to other suppliers – even though they don’t know why you may be a better value, more productive or more capable. The Rambler Much as I dearly love most Ramblers, they do drive me (and most everyone else) crazy. As you can imagine, Ramblers babble on-andon, seemingly unaware of their affect on prospective buyers. Based on my observations, there are two types of Ramblers.

Floundering-For-My-Niche Ramblers These Ramblers lack a clear target market and value proposition. In response to the “What do you do?” question, their elevator speech usually sounds like this: “I do a lot of things. I’ve done lots of sales training in the past. But lately lots of my customers have been asking me to do facilitation. I’m really good at helping companies launch new products. “Sometimes I write their marketing copy; sometimes I do PR. It really doesn’t matter. I like doing both – and I’m good at both. I’m doing this neat project right now for a client – it’s mapping the various futures for their markets so I’m into strategy development too.” The floundering Ramblers share everything they can do – hoping that something they say piques your interest. They don’t want to close down any opportunity to generate revenue. Unfortunately, their elevator speech has just the opposite affect. People much prefer to work with specialists. Also, what these Ramblers don’t know is that their elevator speech proThe Executive 21

Issue No. 64 - 2015

Create an Irresistible “Elevator Speech”

The Executive jects a sense of desperation and ‘lost-ness’ that’s unattractive to most all buyers. I-Love-My-Subject Ramblers Ask these Ramblers what they do and you’ll wish you never had. Typically they’re highly involved with their products or processes – and really love them. When they start talking, they don’t want to stop.

Boring! While these Ramblers are certainly specialists, they say so much that you don’t know what’s important or relevant in their elevator speech. And the last thing you want to do is ask them another question because they may bore you to tears. The Impresser

Here’s how their elevator speech might sound:

The Impresser wants to set himself apart – no, above – others. Their elevator speech sounds like this:

“We do process re-engineering with the various department, divisions, business units and subsidiaries from organizations as well as the numerous contractors that provide products and services that go into the development of your own branded and unbranded products. We initially start by doing a comprehensive assessment of the multiple groups involved in the process, covering questions such as …”

“I work with only the best companies in the industry. Elite Enterprises and SNOB are my biggest customers. I work closely with their CEO, Terry Gucci. I’m sure you’ve heard of her. We handle their COQS financial systems, specifically in the rearbitration of the microfunding from their international and intergalactic commercial markets.”

Rambling = Boring Every sales pitch must combat an inherent tendency to do so.

Impressed? You should be, because the Impresser goes to great lengths to ensure you understand just how important he is. High-falluting words and industry-specific acronyms fill his elevator speech. Also, you’ll hear lots of name-dropping; wellknown people and top-notch companies are part of the repertoire. The trouble with the Impresser’s elevator speech is that it’s offputting. Most people don’t like the implications of intellectual superiority or elitism. They’re intimidated by the big words and won’t ask questions that might make them look stupid. Again, another elevator speech which doesn’t deliver results. The Attractor The Attractor’s elevator speech is magnetic to the right listeners because it’s focused on their needs, issues and concerns. Here are several examples: • “I work with people who are struggling to sell their products or services into large corporate accounts.” • “I help small businesses win big contracts with large corporate customers.” • “I help technology companies who struggle launching important new products into the market and want to improve their time-to-profitability.” These are some of the different elevator speeches I have used. Each one of them has been successful for me. They all invite and stimulate further discussion – which is exactly what I want! Every seller should seek to become an Attractor with an enticing elevator speech that puts you in front of the right people who are most interested in what you offer.

www.the-executive.biz

The Executive 23

Issue No. 64 - 2015

Create an Irresistible “Elevator Speech”

The Executive

Contrary to what you may think, the more narrowly you describe what you do, the broader your appeal will be. Conversely, the more broadly you describe what you do, the less attractive your proposition is. People want specialists. Short and sweet makes a winner. If you can say your elevator speech (correctly) in less than ten seconds you’re doing well. Clearly Identify Your Target Market

Conclusion: Guidelines for Writing The success of your elevator speech depends on your ability to craft a message that offers a strong promise of benefits to your target market. A really good one immediately differentiates you from your competitors. Customer-attracting elevator speeches must convey TWO main ideas. They must specifically define your target customer. AND, they must help prospective customers understand the value they can receive from your product or service. Follow these guidelines to create your personal elevator speech. Talk Results, Not Products or Process Customers don’t care what you do. They don’t care how you do it. But they do care deeply about their business. They’ll be extremely interested if you can do things such as: • Solve a pressing problem. • Improve operational efficiency • Eliminate bottlenecks. • Increase sales or cut costs. • Enhance customer loyalty. • Open new markets. www.the-executive.biz

This is the most important thing to remember as you develop your own elevator speech. Focus on what the customer gets – the outcomes – not on what you do. Keep it Short, Simple and Concise One to two sentences is the maximum you should use. If you feel you absolutely must say more, you haven’t determined the true value you provide. Or, you love your product or process so much you feel compelled to describe it in all its glorious detail. Don’t. Limit yourself to just one or two outcomes. If you say more, you dilute your message and confuse your potential customers.

Do you work with certain industries such as technology companies or professional services firms? If so, include it in your elevator speech. Do you work with certain types of people such as executives, salespeople, plant managers, or accountants? If so, spell it out. Whoever hears your elevator speech should know exactly what kind of businesses or people you work with. Remember, your elevator speech doesn’t have to attract everyone – just those who might be able to use your products or services. Make Sure It’s Conversational An elevator speech is not an ad or a slogan or a tagline, so avoid words you wouldn’t normally use if you were talking to people. You don’t need to sound “catchy.” Remember, when you’re talking to people you use lots of contractions. You don’t say “are not”, you say “aren’t” in everyday conversation.

Jill Konrath’s career is defined by her relentless search for fresh sales strategies that actually work in today’s business environment. Jill is a frequent speaker at sales conferences and kick-off meetings. Sharing her fresh sales strategies, she helps salespeople to speed up new customer acquisition and win bigger contracts. www.jillkonrath.com The Executive 25

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Issue No. 64 - 2015

Executive Humour

The Executive

Executive

HUMOUR

“And this is the exact point we put Scruffy in charge of marketing and sales.”

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The Executive 27

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Issue No. 64 - 2015

The Executive

PEOPLE

Where have all the Followers gone? Giambattista Bufalino

Many researchers, experts and non-experts, consider leadership as one of the catalysts of success for every organization. Books, courses, master programmes (such as the MBA course) share the common aim to provide leaders with the necessary skills to successfully manage employees. Bookshelves are full of fascinating books with similar titles, such as: ‛The Secrets of a successful leader’, ‛ How to be a leader’, ‛10 rules for successful leadership’. One of the characteristics of mainstream leadership is a misperception of a leader being the hero; perhaps it is because we are brought up with stories of great and heroic leaders shaping history and this myth is perpetuated by our current business culture: ‘Always be a leader, not a follower’ seems to be the most widespread slogan of today’s society. www.the-executive.biz

The Executive 29

Issue No. 64 - 2015

Where have all the Followers gone?

The Executive

he leadership industry has established an unprecedented growing popularity, but it has also shown its limits (Kellerman, 2012). Where have all the followers gone? Much of the work on followership has been developed in the leadership context and conceived from a leader-centric perspective. So as to not generalise this approach, we need to clarify how followers influence attitudes, aptitudes and leaders’ behaviours and how they are affected in turn. Hence, one should not simply ‘reverse the lens’ in focusing on the follower’s role - creating a follower-centric approach - without considering the leader and the context. In 2009 Prof. Agho from Indiana University interviewed 302 senior executives to explore their perceptions on distinctive characteristics of leaders and followers. The results revealed that from a leader’s perspective (99 percent),

the followership was important for the unit performance and for the quality of work. Findings reaffirmed what Kelley (1992), one of the most influential scholars and pioneers of the followership research, had attested: followers contribute to an average of 80 percent of the success of organisations, while leaders only contribute 20 percent. Recently I attended a lecture titled Followership: a perplexing case of obliteration ? held by Angela Thody from University of Lincoln (2014). She explored the existing gap between the strong stream of leader-centric studies and the limited follower presence in business management and educational leadership research. To the right you can find some questions I have freely adapted and tailored from Thody’s questionnaire (2014) which may be helpful to find out whether you are a follower and/or a leader.

To understand the follower, one must first consider the leader.

You as a Follower and/or Leader: 1. Do you hold a post-graduate degree/diploma/certificate in followership?

2. Have you ever attended/organized a professional development course related to managing from the bottom up (i.e. how to manage one’s superiors)?

3. Have you read (or come across) a book on ‛how to be a follower’?

4. Do you have a post graduate degree/diploma /certificate in leadership?

5. Have you attended/organized or used for your staff a professional development short course on managing from the top-down ( i.e. how to lead)?

6. Would you define your current professional role-status as primarily that of a leader?

7. If not, would you define your current professional role-status as having some element of leadership?

8. Would you define your current professional role-status as primarily that of a follower?

9. If not, would you define your current professional role-status as having some element of followership?

www.the-executive.biz

The Executive 31

Issue No. 64 - 2015

Where have all the Followers gone?

The Executive I am confident that part of your answers will establish the view that many of us are followers. This interesting delivery by Thody, made me question whether the romanticised fantasy that a leader is the one and only is nothing but a mere illusion since the relationship between a leader and his/her respective followers is one in which they co-exist, ie: leadership cannot exist without followership and vice versa. Why has this topic been given such little importance? What are we missing by ignoring followership? We should give appropriate space and dignity to the category ‘follower’ which is commonly associated with negative images and terms such as ‘passive’ and ‘weak’. Thody (2000; 2003), referring to the negative connotations of followership, argued: “No-one wants to be regarded as one who follows blindly like sheep nor do people in the egalitarian twenty-first century perceive themselves as of lower status to others”. In an era of networked organisations and increasingly flat and flexible organisational structures, it is not always possible to define who exactly is a follower. A project manager in a team can play the role of a follower in another organisation whilst a teacher can be

in charge of a voluntary organisation. We are all followers and leaders in different spheres of our lives. Followers and leaders are always roles and functions of specific contexts and not people with inherent characteristics (Baker, 2007). Leaders need followers to develop and implement their vision. Without followership, leadership can’t exist. This intrinsic union can be metaphorically represented by the Möbius strip (Hughes, Ginnet and Curphy, 1999). Like the property of the strip of Mobius that has only one surface, leadership and followership cannot be considered separately in organizations. Leaders are not the only people who have the power: followers exert wide influence on the leader’s success (Offerman, 2004) and it can be argued that the follower gives the leader power through the choice to follow (Kilburn, 2010). In my present role as a middle leader I continuously experience elements of following: on the one hand I am a follower of the business strategy, on the other hand I get and receive all the multiple requests coming from the bottom line. Somehow we are all followers and maybe we should provocatively rename our job positions to ad-

The Möbius strip is a surface with only one side and only one boundary.

Synopsis An ‘elevator speech’ is a short description of your business that enables prospective buyers to know who you work with and what value you bring to the relationship. It’s imperative to have an enticing elevator speech that speaks directly to the needs of your customers. Placing yourself in the same category as your biggest competitors makes you a commodity. People much prefer to work with specialists. Thus, rambling on in the hope that something you say piques your prospect’s interest would undoubtedly back-fire. Do not try too hard to impress your prospects with your own importance; most people don’t like the implications of intellectual superiority or elitism. They’re intimidated by the big words and won’t ask questions that might make them look stupid. Every seller should seek to become an ‘Attractor’ with an enticing elevator speech that will invite and stimulate further discussion. The success of your elevator speech depends on your ability to craft a message that offers a strong promise of benefits to your target market. A really good one immediately differentiates you from your competitors.

www.the-executive.biz

The Executive 33

ÂŠ The Executive

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Issue No. 64 - 2015

Where have all the Followers gone?

The Executive

Agho ,A. (2009) Perspectives of senior-level executives on effective followership and leadership. Journal of leadership and Organizational Studies, 16(2)159-166. Appleby, R. (1997) A middle management course: professional development or manipulation? Teacher Development, 1(2) 293-306. Baker, S. D. (2007) Followership The theoretical foundation of a contemporary construct. Journal of Leadership & Organizational Studies, 14 (1) 50-60. Hughes, R. L., Ginnett, R. C., and Curphy, G. J. (1999). Leadership: Enhancing the lessons of experience (3rd ed.) Boston, MA: Irwin/McGraw Hill.

here to this perspective: from HR Manager to HR Follower; from Marketing Manager to Marketing follower ...Being a good follower is much more than being a YES man or rebel; but being able to tell the truth in a responsible way, suggesting to the leaders its vision and its solutions. A good followership requires qualities to be developed and the ability to be a ‘Star Follower’ (Kelley, 2008), which means being critical to success of all groups and organisations and acting with “intelligence, independence, courage and a strong sense of ethics”. The description of the ideal middle manager as “responsible, autonomous and accountable “(Appleby, 1997) sums up the way which a follower should be. We could imagine followers as firms providing goods and services to their customers, which are their leaders: in this way, followers maintain their self-identity and at the same time meet the needs of the leader. Think about a CEO who is a successful leader but a problematic follower: he will come into contrast with the Board or other shareholders with predictable consequences. The follower should assume greater awareness of his/her role, hence the importance of support development paths and practical training on followership. Hurwitz and Hurwitz (2012) offer a concrete action plan. www.the-executive.biz

Step one Let’s start having open discussions about followership in a way that these can have a positive impact on business discourse. This decision strongly depends on the corporate culture and on the values given to employees of all hierarchical levels. Step two Getting to the heart of the followership development skills focusing on training, coaching and mentoring. Step three Let’s begin measuring and providing concrete and actionable feedback on followership. This could be implemented through mechanisms of performance evaluation or by defining the followership in skills assessment. The purpose of this reflection is not proposing a followercentric vision, offering patterns already employed in leadership studies. The core is to focus on how to build followership and leadership skills in an ‘integrated package’, introducing innovation and efficiency in organisations. Leadership is not just the scope of the leader, and followership is not just adhered to by followers. After all, leading is about following, and following is also about learning to lead.

Hurwitz and Hurwitz (2012), Firms also need good followers, The Bottom Line October 2012 (retrieved from http://www.cpaontario.ca/MediaRoom/MediaCoverage /2012mCoverage/1009page15752.pdf ) Kellerman, B. (2012) The End of Leadership. New York: Harper Business. Kelley, R. (1992) The Power of Followership. New York: Doubleday. Kelley R (2008) Rethinking followership. In Riggio R, Challeff I and Lipman- Blumern J (Eds) The art of followership. New York: Doublerday. Kilburn, B. R. (2010) Who are leading? Identifying effective followers: a review of typologies. International Journal of the Academic Business World, 4 (1) 9-17. Thody, A. (2000). Followership or followersheep? An exploration of the values of non-leaders. Management in Education, 14(2) 15-18. Thody, A. (2003) Followership in educational organisations: a pilot mapping of the territory. Leadership and Policy 2, (2)141-156. Thody, A. (2014) Followership: a perplexing case of obliteration? [lecture] Doctoral Study School, University of Lincoln, 18 October.

Giambattista Bufalino is HR Manager at LB Group and a PhD Student at the University of Lincoln. Specialising in business /education training and leadership, Giambattista’s research and professional interests include human resource development, and the ongoing professional development of teachers, educational leaders and managers. The Executive 35

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Issue No. 64 - 2015

COMPANY HIGHLIGHT: Valletta Fund Management

The Executive

VFM representatives attend a Training Programme in London

Part of Valletta Fund Management’s (‘VFM’) mission is to continuously train their authorised representatives. Bank of Valletta (‘BOV’) employees from six different BOV Branches have recently attended a two day training programme in London at Insight Investment Management (Global) Limited and Waverton Investment Management Ltd.

he group were given the opportunity to meet the fund managers of Insight Investment Management (Global) Limited for the Vilhena funds, sub-managed by Insight Investment Management (Global). The representatives also attended a presentation for the Vilhena Broad Opportunities Fund - a fund also managed by Insight Investments and considered as one of the core investment solutions used for their customised UK pension propositions. During the presentation, the Fund Manager explained that the Fund has consistently delivered attractive, equity-like returns with lower level of volatility. As part of the training programme, the BOV staff visited the trading floor at Insight Investments, a valuable experience for anyone working in the investment field.

an investment portfolio in the current market conditions. The group present were later treated to a business lunch, during which they had the opportunity to discuss Waverton’s multimanager strategies with Mr John Bellamy, Portfolio Manager and Director at Waverton Investments Management.

On their second day, the BOV representatives visited the offices of Waverton Investment Management Ltd, at St James’s Square in London and attended a series of presentations on the Vilhena Global Themed Fund, the Vilhena European Multi-Manager Fund and the Vilhena Global Balanced MultiManager Fund. Experts in the field discussed the market opportunities and challenges and the benefits of diversification in

The value of the investment can go down as well as up and any initial charges may lower

Speaking prior to the event, Mr Mark Agius, Executive Head – Valletta Fund Management, commented that “VFM will continue to be committed to provide on-going training opportunities to BOV representatives, keeping them abreast of market developments and updated with the performance of VFM’s investment solutions.

the amount invested and the amount received upon redemptions. Investments should be based on the full details of the Prospectus, Offering Supplement and Key Investor Information Document (‘KIID’) which may be obtained from Valletta Fund Management Limited (“VFM”), Bank of Valletta plc Branches/Investment Centres and other Licensed Financial Intermediaries. VFM is licensed to provide Investment Services in Malta by the MFSA. The Vilhena Funds SICAV plc is licensed by the MFSA and qualifies as a UCITS.

VFM is a company jointly owned by Bank of Valletta p.l.c. and Insight Investment Management Limited, one of the UK’s largest asset managers and a BNY Mellon Asset Management company. Set-up in 1995, VFM is responsible for assets under management of over €750 million (as at the 28th of February, 2015) across liquidity, income, income and growth, growth and absolute return focused investment solutions. VFM, TG Complex, Suite 2, Level 3, Brewery Street, Mriehel BKR 3000, Malta. Tel: 21227311, Fax: 21234565, Email: infovfm@bov.com, Website: www.vfm.com.mt www.the-executive.biz

The Executive 37

Fishing for Souls (Zielenvisserij), 1614

'Come, follow me,' Jesus said, 'and I will make you fishers of men.' At once they left their nets and followed himâ&#x20AC;? (Mark 1:16â&#x20AC;&#x201C;18)

Issue No. 64 - 2015

The Executive

PEOPLE

Experience or Attitude? What to look out for in the Selection Process Calvin Cassar

The gospels give an account of how Jesus went about to selecting his closest circle of followers, and the persons he was envisaging as holding the potential to lead his church. Analysing the episode with a utilitarian lens, one can see how Jesus eschewed selecting persons holding prior experience in preaching, healing or rhetoric, but instead opted to recruit persons who worked in a seemingly distant industry (fishing) but which he saw as presenting attitudes and characteristics relevant to his plan. Analysing retrospectively, his â&#x20AC;&#x153;fishers of menâ&#x20AC;? were persons with weaknesses but also with key attributes such as loyalty, perseverance, and tenacity. In the account, Jesus appears to place greater value on attitude and personality characteristics, rather than relevant experience in a similar role. Within the organisational context and in recruitment in particular, debate arises on the relative value to be placed on the two factors. In the ideal recruitment scenario, the company or selecting committee, carries out a rigorous screening exercise of a set of prospective candidates, ending up with one person (or the required number of persons) holding the relevant experience and the right attitude for the job. On a practical level, however, such an outcome tends to be more the exception rather than the rule, as often the recruiter ends up making compromises in specific areas. When this is the case, it is not uncommon for persons involved in the selection process to debate on what to give more value to, experience or attitude? In this article the relative value of experience and attitude will be discussed with the aim of identifying when and where one should place emphasis. There is value in both, so it thereby becomes important to determine what is gained and what is lost by expressing the specific preference. www.the-executive.biz

The Executive 39

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Issue No. 64 - 2015

The Executive

ork experience has been defined as “the time or period which a person has spent in a role or task” (Cambridge Dictionaries, 2015). In discussing work experience, one can also differentiate between within role experience, (for example, when a person moves from a human resources position to another human resources role) and within industry experience (for example, a person moving to a human resources position in the automotive industry, having worked in a human resources role in the automotive industry) (Motowidlo and Van Scotter, 1994). Within the organisational context, applicants presenting withinindustry experience are often seen as particularly attractive options as employers and managers perceive that: • By recruiting a person with experience with a competitor the company will gain an employee capable of performing and achieving results faster than if it were to hire a person without this experience.

Experience or Attitude? What to look out for in the Selection Process

• As an ancillary to this, training costs are perceived as being lower, as in part this will be covered by the baggage the new employee brings with him or her.

Synopsis

• Recruiting a person with experience and from within the same industry will deprive resources from a competitor, possibly allowing gains to be made on the market.

By recruiting a person with experience

While prior experience can be of value to an organisation, this generally comes at a cost. Experience typically needs to be paid for as most attractive candidates will look for the value to be derived from a possible move, and this often takes the form of financial remuneration.

than if it were to hire a person without

Additionally, challenges sometimes are encountered as the new employee is typically expected to fit in within an already existing structure and culture, and the prior experience may have shaped expectations as to how these should be.

with

competitor

the

company

will gain an employee capable of performing and achieving results faster

this experience.

While prior experience can be of value to an organisation, this generally comes at a cost.

When

recruiting

experienced

people, challenges sometimes are encountered as the new employee is typically expected to fit in within an already existing structure and culture,

Employing inexperienced personnel in crucial roles will result in interesting permutations from the service offering.

and the prior experience may have shaped expectations as to how these should be.

Gains to be made by recruiting on the basis of attitude rather than experience include the possibility of moulding the

person

based

company

requirements as well as company culture.

Recruiting people from outside the industry

makes

gaining

alternative

perspectives to the status quo possible.

www.the-executive.biz

The Executive 41

Issue No. 64 - 2015

The Executive

Experience or Attitude? What to look out for in the Selection Process

“

companies recruiting on the basis of attitude, appear to do so as a consequence of placing value on potential rather than immediate knowledge or skills

”

In his autobiography Steve Jobs (Isaacson, 2011) recounts how he courted John Sculley, who was then president of Pepsi-Cola, so as to become CEO of Apple. Jobs recounts how his background in consumer marketing was key for Apple at the time and he perceived that this could be of value to the organisation. Although the relationship between Jobs and Sculley turned sour over time, the latter was still able to increase sales at Apple from $800 million to $8 billion in his ten year spell, and he contributed by making key product and marketing decisions. Top calibre experience within a corporate framework proved instrumental in achieving these results. www.the-executive.biz

The Value of Attitude Attitude is being defined within this context as the a set of evaluations of one’s job that constitute one’s feelings toward, beliefs about, and attachment to one’s job (Judge and Kammeyer-Mueller, 2012). In a sense companies recruiting on the basis of attitude, appear to do so as a consequence of placing value on potential rather than immediate knowledge or skills (Gottfredson, 1997). The gains to be made by recruiting on the basis of attitude include:

• the possibility of moulding the person based on company requirements as well as company culture. • the return to be obtained from a high potential person in the long run. • the cost savings in salary paid, at least in the initial stages, when compared to hiring a person with experience. • the widened pool for selection purposes, allowing greater flexibility in the recruitment process and decision making. The Executive 43

Issue No. 64 - 2015

The Executive

Experience or Attitude? What to look out for in the Selection Process

Because Tesla Motors recruited from outside the automotive sector, a flurry of ideas from outside of the industry was garnered and made use of in their perusal of rapid growth.

Cambridge Dictionaries Online: http://dictionary.cambridge.org/dictionary/british/work-experience [Accessed 23 January 2015].

Gottfredson, L. S. (1997). Why g matters: The complexity

A strong training and on-boarding process can help assist in the strategy of recruiting personnel based on attitude as training can help bridge lacunae in skills and competencies that the persons might bring to the table. Tesla Motors is one of the fastest growing start-ups in the United States and a success story in the automotive industry; the company was founded in 2003 by Martin Eberhard and Marc Tarpenning and in slightly more than 10 years it went on to become worth $25 billion, roughly half of the valuation of General Motors (Tesla, 2014). The company needed to grow at a rapid pace and often faced significant skill shortages in technical areas. As a result in part because of need, but also as set in the human resources strategy, the company opted to recruit persons with experience from outside the automotive sector. This led to a flurry of contributions and ideas from persons whose mind set which was not shaped by prior experience as to how a car company should be run. This has allowed the company to grow quickly on the global market, and with the possibility of taking on board talent that has provided an alternative perspective to that www.the-executive.biz

laid out by its competitors in a relatively saturated market.

of everyday life. Intelligence, 24, 79-132.

Isaacson, W. (2011). Steve Jobs. New York : Simon & Schus-

Conclusion Overall, contingency is key and organisations should make employment decisions based on their own business requirements. At the same time, it is important for the decision makers to realise what the implications of their decisions are, in such a way as to allow the persons involved to take an informed decision. Irrespective of the value placed on the within industry experience and attitude continuum, companies should strive towards achieving sound technical recruitment processes based on a methodical understanding of their requirements, and a structured assessment of the candidates applying for the job. Experience and attitude are not mutually exclusive in applicants but when a compromise is called for, it is important to realise what would be gained and lost in the process. Human resources professionals often act as fishers of men (and women), and they should be well aware of how they manage their processes in order to achieve the intended outcomes.

ter.

Judge, Timothy A.; & Kammeyer-Mueller, John D. (2012). â&#x20AC;&#x153;Job Attitudesâ&#x20AC;?. Annual Review of Psychology 63, 341â&#x20AC;&#x201C;367.

Tesla Motors, (2014). About Tesla, Tesla Motors. [Available online at: http://www.teslamotors.com/about [Accessed 20 December 2014].

Van Scotter, J., & James, R. (1994) Evidence that task performance should be distinguished from contextual performance. Journal of Applied Psychology, 79, 475-480.

Calvin Cassar is Human Resources & Administration Manager at Mizzi Motors Limited. He holds particular interest and expertise in recruitment, assessment and quantitative analyses having gained exposure in these through academic as well as work experiences. The Executive 45

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inspire@paulbellard.com Paul Bellard is not available for booking through any speaker agencies.

Issue No. 64 - 2015

COMPANY HIGHLIGHT: EuropeanFunds.info and 3a Malta

The Executive

The WHAT’S WHAT SERIES ON EUROPEAN FUNDS

It is a common perception that various aspects of EU Funds make them an impossible exercise of administration, micro-management and bureaucracy. Compared to the relatively leaner management of privately-funded projects, EU and any other public funding does call for added checks and balances. Public accountability, fair treatment, open competition and transparency are core principles that need to be respected throughout. EuropeanFunds.info and 3a Malta are presenting the ‘What’s WHat Series on European Funds’ via a set of business breakfasts held at Hilton Malta. These sessions are to be held on the 7th, 14th, 21st, and 28th of April, 2015. Accredited by the Malta Institute of Accountants, 12 CPE Hours will be alloted towards attendance. They will aim to explore the essential aspects of the management and control of EU funds, through the first-hand experience of an accountant and two former Senior EU-Funds Managers within the Ministry of EU Affairs (PPCD). This Programme happens as Malta’s 2014-2020 Operational Programmes unfold. A timely event that will dispel perceptions and uncover new potential for your organisation.

7th April : Applying for European Funds Explaining the new project application processes and offering helpful tips how to make your application a winning one.

21st April : Public Procurement in EU-funded projects Walking through the complexities of contracts implementation, the contractual tools available to manage them effectively and the red-flags for auditors.

14th April : Project Management of EU-funded operations Identifying the steps of the project lifecycle, what is expected of the project manager and the accounting standards to be applied to.

28th April : Financial management & audit of EU-funded projects Exploring the re-dimensioned role of financial management and audit in the new results- oriented 2014-20 programmes.

Register now at www.europeanfunds.info or contact us on contact@europeanfunds.info for more information. www.the-executive.biz

The Executive 47

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