Goals – Page 10 – mardihumphreys.com

Lessons for Losers

Competition is a central theme in American society. The Super Bowl and the Olympics happening at the same time gave us competition overload. Even the men honored for President’s Day won a contest. You’re in contests every day. At work, you’re competing with teammates for the next promotion, on social media you’re competing with “friends” for likes, at home you’re competing with hostile Minecraft mobs for survival. Given the nature of competition, there can only be one winner. That means the majority of contestants are going to lose. How are the losers supposed to recover?

Perspective

Winning a contest often involves luck (preparation meets opportunity). When you have one shot at beating the competition, like the Super Bowl, many variables have to combine in just the right order to win. That’s one of the reasons underdogs are so appealing. After the Bengals lost the Super Bowl, quarterback Joe Burrow’s comments were full of responsibility for his performance, grace for his team, respect for his opponent, and hope for the future. His emotionally intelligent response after the loss is a template for how you can react when your team experiences a setback at work.

Perseverance

When you have to wait four years for a shot at a gold medal, having an off day during your short program can crush your spirit. In 2018 men’s figure skater, Nathan Chen, was favored to win gold in PyeongChang. But a series of failed jumps left him placing fifth in the men’s singles competition. Like a true statistics and data science major, Chen spent the next four years analyzing what went wrong and what it would take to fix it. He had plenty of experience dealing with adversity in regard to figure skating. When he started, his family was impoverished. He used his sister’s skates and all the money his mother could scare up to pay his coach. Chen seemed to learn early in his training that the only failure is giving up. The rest is just gathering data. His perseverance paid off when he won the 2022 gold medal in men’s singles figure skating in Beijing. His tenacity after the loss is a reminder to refine, iterate, and try your process again after your team experiences a setback at work.

Pivot

Everyone has to accept the outcome of a Presidential election otherwise democracy doesn’t work. If those who don’t like the outcome refuse to accept it and actively work to change it, then the nation can’t move forward. You don’t have to like the result in order to accept it. For example, Al Gore did not like the outcome of his 2000 Presidential contest with George W. Bush. But on December 13, 2000, after the Supreme Court decided 5-4 (another contest, btw) that Bush was the President of the United States, Gore said this: “Let there be no doubt, while I strongly disagree with the court’s decision, I accept it. For the sake of our unity as a people and the strength of our democracy, I offer my concession.” He turned his desire to serve the public into raising awareness of the dangers of climate change. Gore wrote and starred in An Inconvenient Truth for which he won an Academy Award for Best Documentary in 2007. His decision to shift focus after the loss is an inspiration to try new ideas after your team experiences a setback at work.

What lessons did you learn from the losers of the Super Bowl, Olympics, and Presidential elections that inspire you to keep competing? Please share in the comments.

Isn’t It Romantic?

It’s not the most romantic topic to discuss for Valentine’s Day, but since close to three out of four American couples say that money is what they fight about most, let’s get to the bottom of the problem so that we can get back to the love.

Our Lips Are Sealed

No one talks about money. Do you know what your coworkers’ salaries are? Trends indicate that 2022 will be the year to normalize pay transparency. If you can get comfortable talking with your team about money, then it will be easier to discuss with your partner too. Fights about money aren’t really about the money. They are about how we feel about the money. We bring all kinds of beliefs about it to our relationships including what society taught us about it, how our family used it, and our past experiences with it. For example, if you’d rather save money than spend it, then the pain center in your brain activates when your partner makes a purchase that you consider expensive. You may feel like you work hard to earn your paycheck and it’s bad enough that taxes, insurance premiums, retirement savings, etc., come out of it before you even see a penny and now your partner is spending what’s left on whatever they want. The spender got joy out of the purchase, but is now frustrated by your judgement of their decision. Both of you are making up negative narratives about one another in your heads because neither one of you feels good talking about what just happened. Now MY head hurts.

Start Me Up

Talk about money. When you decide to share your partner’s financial responsibilities, you both have to be self-aware enough to know what your values, triggers, and goals are. Then you both have to be brave enough to calmly communicate them to your partner on a regular basis. The two of you are in this financial situation together and need to maintain a team mindset. Keep your first conversation basic. Talk about a budget. For example, at least discuss what you have to spend (bills), what you have to save (emergency fund), and what you want to spend (leisure). If the word budget has a negative connotation for either you, or your partner, or both, then rename it. Call it Spending Plan, or Our Money Goals, or whatever label reminds you both that this agreement is a tool to help you build your future together. Ahhh…now we’re back to the love.

Let’s Dance

I oversimplified the solution, and simple doesn’t mean easy. Achieving financial compatibility can be more complicated than learning the Viennese Waltz. I boiled it down to give you a launch pad. The very act of starting the money conversation will give both of you peace of mind. You can’t put a price tag on that.

Why do you think talking openly about money is taboo in our society? Please share in the comments.

Hidden Treasure

Photo by Tima Miroshnichenko from Pexels

Continuous improvement is my business, so I’m habitually looking for manual processes to automate. Some of my clients get nervous because automation could eliminate an employee’s job. But that employee has a big advantage over the automating software application: soft skills. Only human beings can combine wisdom, communication, leadership, and self-awareness to get work done. If the employee is valuable, then I suggest the client take this opportunity to advance them into leadership. That decision calls for careful consideration because individual contributors tend to get promoted for their technical skills. However, the promotion often comes with people to manage requiring soft skills the new manager may not have. Here are three characteristics to look for when identifying a potential leader.

Growth Mindset

Leaders are constantly learning, questioning their own assumptions, and seeking feedback. For example, leaders:

Take personal initiative to adopt the company’s mission. They decide to find their role in furthering it even if being an individual contributor is not their dream job
See the big picture and think strategically about how they can help the organization get from where it is to where it wants to be
Not only focus on what they can control during a crisis but also look for new opportunities the crisis may spawn
Realize the next step toward a goal may require two steps back
Develop confidence when they refuse to be victims of setbacks
Favor performing small experiments to get the team comfortable with failure. They frame these failures as necessary to eliminate what doesn’t work
Don’t wallow in regret when they make a mistake. Instead, they find out where they went wrong to prevent it from happening again
Recognize the importance of celebrating every baby step the team takes toward their goal

Inspires Collaboration

Bestselling business author Daniel Pink, says 70% of employees spend at least some of their workday “persuading or convincing others.” People who do this well and for the benefit of both the project and the people working on it, are leaders. They:

Positively build, cultivate, and engage a disparate team to promote a workplace culture of diversity, equity, inclusion, and belonging
Give relentless respect to earn trust and strive for mutual understanding
Rally the team to buy in to the plan that will complete the mission
Manage conflict to foster debate instead of defense
Encourage everyone on the team to maintain an attitude of, “It’s us against the problem, not us against each other.” This bonds the team and makes everyone stronger for the next challenge

Chronic Curiosity

In his book, Play Nice But Win, Michael Dell, Founder, Chairman, and CEO of Dell Technologies says, “Change, true transformation, is a race with no finish line.” Thanks to technology the rate of change is increasing and it’s not going to slow down. Leaders:

Champion transformation and look for what is coming next
Are more interested in relevant results than in looking the smartest person in the room
Apply the scientific method to business challenges. For example, COVID is forcing leaders to think critically about how work gets done because business “as usual” no longer exists. Solving that challenge begins with curiosity

What qualities do you look for in a potential leader? Please share in the comments.

Be Like Betty

Betty White and I are birthday buddies. This January 17 is a more somber celebration as I both fondly and gratefully contemplate her example of a life well lived. To be (basically) a centenarian is an amazing accomplishment, but her longevity isn’t the most impressive thing about Betty White. When People magazine asked her about it recently, Betty attributed her long life to being a cock-eyed optimist. She said, “I got it from my mom, and that never changed. I always find the positive.” That mindset guided Betty to make wise choices regarding her T.E.A.M.; especially when it came to her work. Here are a few examples.

Betty Spent Her TIME Honing Her Craft

After co-hosting a daily variety show, Hollywood on Television, in 1952 she began hosting solo. For the next four years she improvised five and a half hours of live television six days a week by herself. At the same time, she produced and starred in another television show called Life with Elizabeth, for which she won her first Emmy. Over the following 70 years, Betty won seven more Emmys plus a Grammy, two Screen Actors Guild awards, and many other accolades. She wasn’t in the entertainment industry to win awards, but they are evidence of her job performance.

Betty Spent Her ENERGY Seeking New Projects

Her big break into celebrity came when she did a guest spot on the Mary Tyler Moore show. She did the job so well, she was made a permanent cast member. Betty’s role on Hot in Cleveland happened the same way. The Snickers commercial she did for the 2010 Super Bowl led to a guest hosting gig on Saturday Night Live. Betty knew what she could do, identified the need, and provided value where she could. Those soft skills are crucial to every industry.

Betty Spent Her ATTENTION on Leadership

The Golden Girls was groundbreaking television at the time the show began airing. It spotlighted the needs of an often overlooked segment of the American population. The premise of Betty’s final sitcom, Hot in Cleveland, challenged society’s standards and perceptions of women’s beauty.

Betty Spent Her MONEY on Under-resourced Organizations

She was as famous for being a life-long animal lover as she was for being an actress and her work funded her passion. Betty’s fame generated a fan club: Bet’s Pets. The membership dues all went to various animal rescue charities that Betty participated in.

In choosing to spend her T.E.A.M. in these ways, Betty created an enviable legacy. I’m grateful that she not only left us with an abundance of her work roles to enjoy, but also with life roles to model.

Betty White’s life story is much larger than I can tell within my usual 500 words. You don’t have to Google very hard to find articles describing why she is regarded as a pioneer, cultural icon, and national treasure. How has her passing prompted you to examine your purpose for work and life? Please share in the comments.

Fiscal Fitness

I know you’re all in the holiday spirit and everything, but before the year gets away from you, stop for a minute and think about what you need to do with your finances before January 1. Taxes are the obvious consideration, but also think about your savings goals and protecting your credit rating.

Taxes

Slow Down: With the economy trying to recover from the effects of COVID-19, you may find yourself in a lower tax bracket next year. If you are able to defer receiving any year-end bonuses until January, they won’t be taxed this year. If you can afford it, you may also want to delay collecting payment from a few clients until January so that income won’t be taxed in 2021.

Speed Up: It’s not too late to take advantage of tax deductions for this year. Do you itemize your return? If so, do you have any expenses like medical payments, interest payments, or state taxes that you can pay now? Also, charitable deductions are still a great way to lower your taxable income if you follow the rules.

Saving

How did you do on your savings goals this year? Check the numbers on your long-term savings goals like a vacation, car, or house. Are you on track? Can you pay for holiday gifts without using credit cards? At this time of year you may be disappointed at the commercialization of the holidays and want to make them more meaningful by less money spending and more blessing counting. Use this mindset to embrace minimalism. The result is savings on decorations, food, and gifts. Consider giving presents that cost you something other than money. For example, invite a friend over for a mid-week holiday coffee date or a multi-player game of Fortnite. Your time is more valuable than your money. Did you get a holiday bonus? Think about depositing it in your IRA.

Credit

You may be making more purchases with credit cards this holiday season. It’s best practice to check your credit score monthly, so If you haven’t in a while, now is the time. Some credit cards offer this as a service when you have an account with them. If you’re thinking about getting a mortgage or car loan in 2022, you want to make sure your score is at least 700. Also, be mindful to keep your credit use below 30% of your total available credit, otherwise it can negatively impact your credit score. If you have debt on multiple credit cards or outstanding loans, instead of depositing that bonus check (you know, the one I keep harping on) in your IRA, use it to make an extra payment. Paying off debt is almost always the first priority.

The eye of the hurricane between the holidays and the new year allows you a bit of time to think. Use it to brainstorm what you’d like to accomplish next year. Let your imagination run wild. The sky is the limit. Maybe you want to buy a yacht or start your own business. Then, think about what finances you need to support those goals. What baby steps can you take in 2022 to achieve them?

What is your financial New Year’s resolution? Please share in the comments.

Help Me Help You

You don’t get a raise because you need the extra money. You get a raise because you’ve made a positive impact on the bottom line and the company anticipates you’ll contribute in the future. If you executed duties above your job description, brought in revenue, and/or saved the company money, then you deserve a raise.

It’s Work

If you don’t have a “Brag File” yet, start one. Right. Now. Populate a new folder on your desktop with complimentary emails from both clients and coworkers, the link to your recommendations page on LinkedIn, awards, and any other evidence of the great job you did over the past 365 days. With this research, write a report quantifying your value to the company using explicit data to empower your case. For example, “I saved the company $19,800 in training expenses through my network connections and research.” Practice talking about how what you’re currently working on will benefit the company in the near future. Check out websites like salary.com to find out what others with your job title make. All these things pulled together enable you to enter the meeting knowing your worth.

It’s Scary

Your goal is to make you, your manager, and your company successful. You did your due diligence and have every reason to be optimistic, but it’s natural to feel nervous. Set a positive tone when you walk into the room. After greetings and small talk, use your curiosity to dive into your agenda. Ask your manager what their priority is right now. Follow up their answer with what you did this past year to help them get closer to their goal by pulling that report from your Brag File. Thank them for their insight. Tell them you’ll use it to further refine your process to assist them in achieving their priority. Of course, that means you will take on more responsibility and you anticipate that more compensation accompanies that effort. Say that with a poker face. Take the emotion out of the conversation. Report what you did to further the company’s success last year, demonstrate how you intend to keep doing it next year, and put a dollar amount on what the company should invest in your time, energy, and attention. It’s more scary to not get the raise you could’ve received if you’d simply asked for it.

It’s Worth It

Seventy percent of employees who ask for a raise get one. You may be told no even though you performed your job above and beyond its description. COVID-19 decimated our economy and your employer may not have the funds to give you a pay increase right now. Ask if the company is open to other forms of compensation (e.g., flexible schedule). If your requests are rejected, schedule a meeting for six months from now to revisit the possibility. Ask what KPIs your manager would like to see you hit in the interim. Keep your manager updated on your progress either through scheduled 1:1s or an end-of-week emailed report showing that your work is aligned with both your manager’s and the company’s goals.

If the compensation conversation intimidates you, reframe your fear as excitement. You’re anxious to share the good news of how you’ve improved both yourself and the company during the past year. If your enthusiasm is welcomed by your manager, then that’s a good sign you have a future with the company. If it isn’t, well, that tells you something too.

What do you do to build up your confidence to ask for a raise? Please share in the comments.

Sleep On It

“I’ll sleep when I’m dead,” is the hustler’s motto. There are at least a couple of movies and a couple of songs with that statement as the title. It implies that strong people don’t need sleep. In reality, getting adequate sleep not only makes us stronger, but also smarter, and not getting enough sleep can eventually kill you.

How Much is Enough?

A recent study by the CDC found that 41 million Americans in the workforce are sleep deprived. How many hours an adult needs varies by person; it can be anywhere between six and ten. When you don’t get enough, you accumulate a sleep debt that sooner or later your body will force you to pay. If you feel moody, are making more mistakes than usual, or falling asleep in meetings, then you aren’t getting enough. That lack of sleep can lead to poor decision-making, depression, and/or burnout. If you deny your brain the time it needs to recharge, then it will punish you with poor functioning, like trouble focusing on tasks, misunderstanding communication with your team, and difficulty controlling stress. These indicators can manifest in as few as three consecutive nights of sleeping six hours or less.

Why is it Important?

You need to be physically healthy to do your best work, and getting enough sleep is key to your physical health. Your body repairs its tissues, manufactures hormones to fight infections and viruses, and lowers your blood pressure while you sleep. Also during sleep, your brain constructs and reinforces neural pathways that help you remember things you’ve learned, which strengthens your ability to solve complex challenges at work.

Best Practices

Get on a schedule. Go to bed and wake up at the same times every day. Then, before bedtime:

Three hours: Finish eating, and drinking caffeine and/or alcohol
90 minutes: Finish vigorous exercise
60 minutes: Turn off the TV, cell phone, and laptop. Read a real book, listen to soothing music, or meditate instead
At bedtime: Eliminate light and noise and adjust the room temperature; cooler is more conducive to sleeping

Damage Control

After a sleepless night:

Try to begin your day with exercise, outside if possible. You could go for a run or ride your bike, but a brisk walk through nature while breathing in fresh morning air and listening to your favorite songs followed by gentle stretching will also put you in a good mindset to face the day.
Your body may try to rest at an inopportune time later in the day. If that happens, it’s more productive to take a 15-30 minute break to let your brain rest than to keep plowing through your to-do list.
Caffeine may get you through the morning, but the crash could have you zoning out during your afternoon Zooms. If you can’t grab a 15 minute nap, then take 10 minutes to either meditate or eat a healthy snack and chase it with a glass of water while watching an uplifting video; maybe this one. If you don’t have 10 minutes, then take one or two minutes to either stretch or take a few deep breaths.

Many of us have trouble sleeping since the advent of COVID-19. What are some things you do to get a good night’s sleep? Please share in the comments.

It’s About Time

When did the United States know it was time to bring workers from the fields to the factories? Who decided working eight hours a day for five days in a row was the best schedule for optimum productivity? The 40-hour workweek became a law in the United States in 1940. If we haven’t thought about how long it should be since then, may we please use COVID-19 as the trigger for redefining how long it is now?

Not News

How long both the workweek and the workday should be is not a new conversation. One of my favorite thinkers is organizational psychologist Adam Grant. He has lobbied for the death of the five-day workweek for at least a couple of years. There is plenty of evidence to support his position from respected sources like The Atlantic, The Wall Street Journal, and The Huffington Post.

Mother Knows Best

The catch is, if employees spend less time on the job, isn’t it logical that the job should pay less? Mothers have struggled with this prevalent employer attitude for years. In Mika Brzezinski’s book, Know Your Value: Women, Money, and Getting What You’re Worth, Carol Smith, former publisher of Elle magazine told Mika, “I love hiring women (for) four days a week because they actually will produce at least five days’ worth of work for four days’ worth of pay.” As an employer that’s a benefit to her, but as a woman, it is a detriment. Her story in the book goes on to note that the moms of young children who work for her are willing to do anything to have a four-day workweek including accepting 60% of their salary.

Proof of Concept

Of course, employees do not want to make less money, but why should employers shorten the week without also shortening the paycheck? Here are two examples. This article talks about a four-day-workweek-no-pay-reduction experiment the company Buffer offered its employees. To shorten their workweek, they cut back on meetings and social events, sped up the pace of their day, and improved their focus (e.g., employees reported spending 35% less time surfing the web). The experiment was so successful, it’s still running. Buffer made $21 million in revenue in 2020. Also, American businesses should vet the plan Iceland commissioned from Alda (Association for Sustainable Democracy), an Icelandic non-profit, and Autonomy, a British think tank, to condense the workweek. These two organizations partnered to run two large-scale trials of a four-day workweek from 2015-2019. They published their results in June 2021. In addition to productivity remaining the same or improving in their test-subject companies, the study also concluded that employee welfare markedly increased (e.g., less burnout). Even if employers prioritize revenue over employee well-being, these studies prove a four-day workweek is profitable.

Life always holds an element of uncertainty. Did we really need a pandemic to remind us of what our priorities should be and how far we’ve strayed from them? Let’s rethink the current workweek model and consider what compensation for productivity could look like in 2022.

Would you rather be paid for your time or your productivity? Please share in the comments.

The Talk

It’s time for “the talk.” Not THAT talk; you need to talk to your family about retirement savings-both theirs and yours. Yes, the economy is suffering right now and it’s tempting to push pause on long-term savings, but the future keeps coming and everyone from Baby Boomers to Gen Z should continue to plan for it.

Don’t Count on It

Do not make the mistake of counting on the United States government to fully fund your golden years. Social Security is intended for use as an emergency resource, not your main source of income after you leave the workforce. Plus, by 2034, projections reveal that the Social Security Administration will be paying out more benefits than they are taking in through payroll taxes because there will be more retirees than employees. If Congress steps in then it probably won’t run out. But if you want to live the rest of your life comfortably, then you should fund your own retirement.

It’s Not About the Money

When talking to your family about future finances, you’re not really discussing money. Whether it’s your adult children who want you to carry them on your insurance or your parents who want you to be the executor of their wills, money is just a representative. What you’re really talking about is both expectations and emotions. Whether fear, resentment, kindness or generosity, feelings are attached to financial conversations. These discussions are not one-and-done. For example, when your parents began telling you about the birds and the bees, it wasn’t just one talk, was it? When our daughter was three years old she asked me where babies came from. I told her Cleveland. That satisfied her for two years. As she grew older, her questions grew more specific. It’s the same for the money talk. As everyone in your circle of care ages, the questions you ask them should become more specific. For example, when speaking with:

Gen Z – Do you have an emergency fund with at least $1000 saved? If not, they should think about automating their savings. Here is how to create a plan
Millennial – Are you aggressively paying off debt? Here are some pros and cons
Gen X – Are you taking advantage of catch-up retirement savings? Here is how they work
Baby Boomer – Have you thought about where you want your assets to go after you’re gone? Here is what they need to know if they live in the great state of Ohio

Awkward

How you manage your money is a very personal choice. When it has the potential to impact, either positively or negatively, the people you care about, you must talk to them about it no matter how awkward it feels. Opening up a dialogue before a financial emergency happens allows you to remain calm when the crisis hits. It may even prevent the crisis. The result of uncomfortable money conversations with your loved ones is it becomes more comfortable the more you do it. The result is peace of mind, and you can’t put a price tag on that.

What stops you from talking to your people about their and your future finances? Please share in the comments.

The Tide is High

You kept your business solvent during the pandemic. Now vaccines are available and buildings are reopening. Both you and your workforce are deciding where to go from here. Pivots like switching the product you manufacture (e.g., making hand sanitizer instead of bourbon) or shifting your employees to working from home has not only burned everyone out, but also revealed work-life integration paradigm shifts. You need to both retain your current workforce and attract new employees, but how? This week, let’s focus on keeping the folks you have.

Pivot Again

You regularly adapt your business to market conditions. This shift in the balance of power is a condition more abrupt than most, but it offers you a gift. It forces you to look at your mission, vision, values, policies, and procedures and sift them through the filter of The Platinum Rule. For example, employees hear the siren call of flexibility and autonomy in their jobs. Are your company’s paid time off policies amenable to employees with caregiving duties to young children, aging parents, chronically ill partners, etc.? If not, then it behooves you to reevaluate those policies. If your employees are being washed away by the Talent Tsunami, then you need to take a long, hard look at your company’s culture, protocols, and development paths. If your workforce was happy before the pandemic, then they would not be so tempted to leave now. You will be wise to shift your mindset to focus more on taking care of your employees and repeatedly communicating that commitment. People want to work in an environment where they feel valued. If your company has a vision the workforce can believe in, you coach them to share it, and demonstrate how their jobs are integral to realizing it, then employees get invested in meeting the company’s goals and want to stick around.

Engagement Brings Retention

The inconvenient truth is it’s cheaper to keep an employee than to hire a new one. If you don’t know what your employees need to achieve work-life integration, or to feel appreciated, now is the time to ask and actively listen to their answers. Individual contributors who feel they belong and have purpose are less likely to burn out. How do you know if your employees are burned out? Ask them. Company-wide email surveys are easy to create, send, and compile results. You can ask questions like: How do you think the company handled pivoting during COVID-19? How many days a week do you want to WFH? If the company reimburses you for upskilling, will you agree to work for us for a year? The answers will give you data that will not only help you to assess the risk of employees leaving, but also reveal what you can do to keep the good ones.

“Bye” the Way

Unless employees signed a contract saying they’d do one, they are not obligated to give exit interviews. A smart employee will not grant one if they don’t have anything nice to say. An exit interview is more of a benefit to you than to them. It’s an exiting employee’s gift of feedback to you. If the resigning employee grants one, stick to questions that will help you retain other employees. For example: What could the company have done to make it easier for your team to communicate with each other?

What are you doing to encourage your employees to join you in making your business succeed? Please share in the comments.