Showing posts with label driving. Show all posts
Showing posts with label driving. Show all posts

Friday, 30 November 2012

Super-talented employee driving you crazy? How to deal.

FORTUNE -- Dear Annie: I've never seen this problem addressed in your column, but I can't be the only one struggling with it. About six months ago, I got this great new job leading a team of 18 software developers and designers, and everything's going great, with one exception. One of our most talented people is also the most difficult and unpredictable. He has terrific ideas and often comes up with elegant solutions to challenges that have other people tearing their hair out. He's also the brain behind two of our biggest hit products.

However, he's not at all interested in project deadlines, he's dismissive of other people's ideas, and he's so absorbed in his own work that he misses a lot of meetings, so he's never quite up to speed with the details of what's going on. I want to keep him here (he's already changed jobs four times in eight years, and I know for a fact he gets other offers all the time), but his prima donna act is bad for the whole team. How can I get him to play well with others? — Baffled Boss

Dear Baffled: Ah. Sounds like a textbook example of what executive coach Katherine Graham Leviss calls a high-maintenance high-performance (or HMHP) employee. "These people tend to be visionary, big-picture thinkers. They're independent producers, and they're very driven, but they're not process-oriented. They're focused on results," she says. "Once they have a mental image of the outcome they want, they go after it without regard to how what they're doing affects teammates."

Leviss runs XB Insight, a coaching firm that specializes in taming HMHPs for Fortune 500 companies and the National Football League, and she wrote a book you might want to check out called High-Maintenance Employees: Why Your Best People Will Also Be Your Most Difficult…and What to Do About It.

MORE: Fortune's Blue-Ribbon Companies

"HMHPs are tremendously valuable if properly managed," Leviss says. "And luckily, they're highly coachable. One thing this personality type can't stand is feeling out of control. So once you create an awareness of the problems an HMHP's behavior is causing, he or she is likely to feel a sense of urgency about getting back on top."

How do you do that?

1. Set up consistent processes and guidelines. "If there's no process in place, HMHPs will create their own," says Leviss -- and that can lead to chaos. But don't let an HMHP determine what the process is going to be, even though he or she will probably try. Instead, assign designing the structure of a project, including deadlines, to "more methodical, step-by-step team members who are good at that."

2. Assign them tasks they can "own." This is largely a matter of turning an HMHP's outsized ego to your, and the rest of the team's, advantage. Since these are people who want to put their own stamp on their work -- and since "they're usually highly technically proficient," Leviss notes -- put them in charge of the part of each project where they can shine the brightest.

To bring out an HMHP's best performance, Leviss says, make it about him. "Instead of saying, 'The team has to get to X result by such-and-such a date,' focus on his part of it: 'In order for the team to get to X, you have to produce Y.'" Then stand back. "It's usually pointless to tell an HMHP how to get there," says Leviss. "He or she will just try to find a better way, and they usually can."

3. Make your expectations clear. Sit down with your HMHP for a frank discussion of exactly what isn't working, and don't hesitate to be blunt about it. "You don't need to 'sandwich' your remarks with praise, as you might with other employees, because HMHPs already know they're extremely talented," Graham Leviss says. "So get right to the point: 'Here's how what you're doing -- skipping team meetings, for instance -- affects everybody else, and here's what I need you to start doing instead.'

MORE: How HP's Meg Whitman is passing the buck

"We do this kind of coaching with NFL athletes," she adds. "It takes a little while for new habits to form, but hold people accountable and remind them of the changes you've said you want to see."

4. Provide as many learning opportunities as you can. High-performance employees get bored more easily than others (which helps explain why they tend to change jobs so often). They also "like to feel that they're on top of the latest, newest, hottest" trends in their field, Leviss notes. So be on the lookout for cutting-edge training, interesting conferences, and other learning experiences you can offer your HMHP. Whatever the cost, it's lower than the price of replacing him.

5. Keep the challenges coming. Leviss, a self-confessed HMHP, writes in her book that, having changed jobs six times by age 30, she had an epiphany: "I loved my job when I was working on new projects or new problems…. It was the thrill of something new that kept me going…. Most high-maintenance employees are unhappy when a project is over and they don't have another one in sight."

This eventually motivated her to start her own company, but you probably don't want your HMHP to do that in this case -- so make sure he never runs out of fresh puzzles to solve. A definite upside of having HMHPs around: One of their defining characteristics is that they don't know the meaning of the word "overwork."

Good luck.

Talkback: Have you ever worked with, or tried to manage, an HMHP? Do you think you are one? Leave a comment below.


View the original article here

Tuesday, 27 November 2012

Opinion: Ford stock not driving over fiscal cliff

Thelma and Louise plunged their Ford Thunderbird off a cliff. But Ford investors are confident that Alan Mulally can avoid a similar fate even though lawmakers in Washington have yet to reach a deal on taxes and spending cuts.

The opinions expressed in this commentary are solely those of Paul R. La Monica. Other than Time Warner, the parent of CNNMoney, and Abbott Laboratories, La Monica does not own positions in any individual stocks.

Anyone who's seen "Thelma and Louise" knows that cars and cliffs don't tend to get along too well. But shares of Ford (F) are up nearly 15% since the broader market first started to slip in October on fears of the looming fiscal cliff.

Interestingly enough, Geena Davis and Susan Sarandon drove a baby blue Ford 1966 Thunderbird into the abyss at the end of the movie.

The fact that Ford has done well is a bit surprising. You'd think that worries about higher taxes and spending cuts would drive (sorry!) people away from the auto dealerships. Why make a huge purchase at a time when there is so much economic uncertainty? Throw in concerns about Europe's debt crisis and a slowdown in China and it's even more shocking that investors are favoring Ford right now.

Yet Ford isn't the only automaker whose stock has thrived while the S&P 500 has dipped. Shares of General Motors (GM), Toyota Motor (TM), Honda Motor (HMC) and even unprofitable electric car maker Tesla Motors (TSLA) are all up too.

Jim Kee, president of South Texas Money Management in San Antonio, said that it makes sense for auto stocks to be rallying. He pointed to statistics that show the average age of cars and trucks on the road in the U.S. is now at an all-time high of 11 years.

"We are just at the early stages of an upswing in auto sales. There is so much pent-up demand," said Kee, whose firm owns shares of Ford and GM.

But even though times may be looking good for all automakers, Ford's stock has been the best performer of the bunch. And that trend could continue.

Related: Ford posts $1.6 billion profit despite problems in Europe

For one, Ford's stock remains pretty cheap. The stock is trading at less than 8 times 2013 earnings estimates. That's a tad more expensive than GM, which is valued at about 7 times earnings forecasts. But Ford is a bargain compared to its Japanese rivals. Toyota and Honda both trade around 10 times profit projections for their next fiscal year.

Ford, which in case you forgot was the one member of Detroit's Big Three that didn't need a government-assisted bailout/bankruptcy, also has something that GM lacks: a dividend. Ford reinstated its quarterly payout earlier this year thanks to improvements on its balance sheet. Ford had gotten rid of its dividend in 2006. But its new dividend yields a decent 1.8%, which is higher than the rate on the 10-year U.S. Treasury note.

Kee said he likes Ford and GM equally. But for many investors, Ford appears to be the preferred choice because of the fact that it didn't have to go through Chapter 11. Kee conceded that the Treasury Department's stake in GM may be an overhang on the stock.

It makes sense. Used car salesmen may have a bad reputation. But politicians and bureaucrats in Washington, D.C., are probably hated even more. So, until GM can completely shed the Government Motors tag, Ford may continue to look more attractive than its bigger Detroit competitor.

But perhaps the best news about Ford in recent weeks is the fact that its well-respected CEO, Alan Mulally, isn't going anywhere for a few more years. There had been rumors that Mulally might soon retire, but earlier this month Ford announced he would remain CEO until "at least 2014."

Mulally is widely credited with keeping Ford away from bankruptcy. During his tenure, the company was prescient enough to borrow money before the credit markets froze in 2008. Ford has also boosted its market share during the past few years thanks to an emphasis on more fuel-efficient vehicles such as the Focus, Fusion and Fiesta.

"Ford has come up with some great products over the past few years and the fact that Mulally will still be around for a few years is a great sign. He has enhanced the value of the company. It's as simple as that," said Bob Bacarella, manager of the Monetta Fund in Wheaton, Ill. Bacarella said Ford is a long-time holding in the fund and he thinks the stock could double over the next few years.

Related: Ford's smooth CEO succession -- plus a few bumps

Ford also smartly followed the lead of companies like IBM (IBM) and Apple (AAPL) and formalized a clear succession plan for the firm. Ford promoted Mark Fields to the title of chief operating officer, paving the way for Fields to take over for Mulally once he does retire.

Contrast this seamless transition with the mess made by chipmaker Intel (INTC), which announced earlier this month that CEO Paul Otellini would be stepping down next May. Intel did not name a successor and left the door open for the company to hire an outsider as opposed to just promoting from within.

Of course, Ford could get hurt if the U.S. plunges over the fiscal cliff. But Ford appears to be on much more solid footing than its rivals -- and with Mulally still having his hands on the CEO steering wheel, investors are hoping Ford can avoid the disastrous fate that met Thelma and Louise's T-Bird.


View the original article here