The Rest of the Story spotlights the dangerous career tipping points of your promotion from mid-level management into senior leadership positions. The change is seismic, and if you don't understand the expectations, you'll discover your career stalling while you wonder why.
ThriveWithNancy Podcast addresses the tricky points you run into daily as a woman executive. Nancy Fredericks shares all the secrets she's acquired as an experienced thought-leader. She's passionate about sharing practical, insider solutions with women executives to tap into on your way to achieving all of your career hopes and dreams.
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Stay tuned to acquire practical insights into that often challenging, mysterious, tough world of becoming a senior executive. Now for the rest of the story, Welcome to thrive with Nancy. This podcast is dedicated to you, an executive woman who has done well in your career, and you're up for boosting the results you achieve even higher in podcast 44, we discuss the first of two dangerous career tipping points. Now it's time to examine the second we're paying particular attention to the shifts needed to be successful, which means giving up your skills that you are comfortable with right now. And as important to recognize it, isn't merely the executive who loses when you don't give up those comfort skills. The company does as well. That shift has to be made for the greater good of you and your company. Are you ready to address the next season in your career? Moving from mid-level management into senior level influential position in the organization at this point in your career, it is the first time instead of managing task driven people where everyone reporting to you is the employee directly responsible for developing, producing, servicing, producing kind of genius work through your personal expertise. So you're no longer touching those people. Your role now gets tricky. You're managing employees to perform a wider variety of distinctive functions that you're unfamiliar with. That you're not the expert at. And perhaps you're even a neophyte at doing this work. Something you may never have experienced in years, perhaps not even since you first took on a position at the company, you could no longer rely on your technical knowhow as your primary asset. You gotta erase that from your memory banks. Now you'll depend on a broader array of strengths, communicating delegation, strategic planning, team building, and leadership skills. Yes, you are still responsible for the end product. However, you're no longer personally touching all the detail. It is your job to know the essential tracking point and to keep your eyes on them, to ensure your staff is on time within budget, introducing incremental improvements, and that your employee's focus is aligned with the end results. Your group is required to achieve all of this entails an enormous shift in attitude, behavior skills, and approach. And sometimes women, instead of making this shift, dig in deeper and work harder and think they have to learn what they don't know in order to be the manager, your company would never have promoted you. If they didn't know you had skill sets to manage even unfamiliar areas. And I've gotta tell you if you're relying on your company to develop these leadership attitudes and behaviors, there's a strong possibility you'll be left in the career dust. So to speak, a Gardner study affirms this when only 29% of human resource professionals believe employees receive support that fits their unique needs. Can I get it any clearer than that? Your leadership development rests in your hands. Let's unpack this a little more. As you move into higher positions, you begin for the first time to have leaders reporting to you. They're already proven their accountability. So managing them requires a very, very different set of skills. Now, your job is to provide the long-term vision that will both inspire and give the division clear results for them to pursue on their own. Then you must trust in their abilities and expertise. The success here will be determined based on your long-term vision, judgment of talent and competency to motivate and enroll them into a collaborative endeavor that produces outstanding results. Your primary role is very different, much bigger than anything you've been measured for before. What your employees need from you at this level is the budget to produces sustainable cost effective results. What they need from you is the capital equipment and the people assets to get the job done. They need you to create the strategy to provide profitable outcomes for the organization. They need you to develop a culture for success. It necessitates a bigger you, they don't want you managing them. Your people don't want you to be managing them and their daily calendars. It's about the empowerment of others at this new higher stage in your career journey. And this demands powerful, soft social skill development, not merely leaning in with your expertise development here, your ability to communicate strategies, concepts, and principles, rather than simply priorities, projects and tasks is absolutely central to your success and your companies, your talent to back innovative ideas and spread them across the company is now coming to the forefront. Your view of the world is out into the future. Not simply today. It is a bigger picture, broader breadth view , not how to do it. The top of the trees, not the finer detail of each individual tree branch. Within the forced mentality, you will spend equal time focused on the internal functions. As you do external relationships with wall street analyst, peers in other companies, stockholders and other corporate leaders around the country. It is a vast horizon where the success of your division or company is your performance evaluation. Let me offer three leadership mindsets. You may not have considered in the past, but I assure you they will impact your career. Future first is a diversity equity and inclusion leadership mindset. Did, you know, 88% of organizations are saying they're accelerating the de and I efforts in their company, according to a corn ferry survey and company boards, CEOs, and other senior teams are the drivers to this initiative. Those are who you wanna align with and be seen by what does this mean to you in terms of action. Now that you know, this is a priority, consider volunteering for a de and I company wide project, or educate yourself on the topic or make sure it is part of your dialogue when you're hiring or you're involved in people development. These deeds open the door to being seen as a leader before you need to demonstrate it as part of your job responsibilities. Second, the human leadership mindset. I know for many of you, you've been upping the ante on your tactical tactical target driven activities. But now that may harm, you hear that it could harm you. The higher you go, the more you rely on softer, stronger social skills, which unfortunately are rarely groomed explicitly or fostered in the companies that hire you and what you have to know, it's now a highly wanted skill set . So you wanna make sure that you are good with people. According to Gartner research, 90% of human resource leaders believe that to succeed in today's work environment, managers must focus on the human aspects of leadership. What do they believe you should be focusing on being authentic, empathetic, and adaptive. Additionally, I was looking at research from Stanford Institute and the Carnegie Mellon foundation, where they found that 75% of long term success depends on people skills while only 25% on technical knowledge. Is that a mic drop moment? What percentage of your attention and time do you spend on improving your people skills? Is it enough? Third financial leadership mindset. Okay. Be real. How much do you know about your department's budget or your company's profit and loss statement? Or have you read the annual report? You might wonder why I even have this on the list. Since in all likelihood, it isn't a requirement for your current position. It's because finances are the measurement of success in every company. And if you don't understand it, reaching the higher levels in your organization is going to be far more difficult. Sadly, I see there's typically not enough focus by women managers on money. Garnering such acumen only improves. Hear this, your chances for higher salary, more diverse career opportunities and greater career growth. If you answered no to the financial question, what do you need to do? Financial savvy? I have to tell you was one of the weaknesses I addressed early in my career to tell you the truth. I like money a lot, but financials are not a passion of mine. I asked a CFO to mentor me in my case, it was a he and he was happy to do so. I studied several levels of business finance until I could hold my own in a conversation. And in the planning for the organization, those two actions gave me the foundation I needed to boost me up the corporate ladder. Handily. What can you think of taking on for yourself? Oh , and list . I forget hiring staff that had strengths and passions in my areas of weakness was an important factor to my success. And yes, all of these three can be acquired and honed. Have you identified the mindset you intend to focus on and nail? Is it on de and I or the human side or finances? Yes, you're right. It does take time, but gosh, is it exciting to be contributing at an influential level? To me it's always been well worth gathering your courage and going for it. I bet this has been a real game changer from the way you've been planning your leadership development kind of mind boggling, isn't it I'd appreciate you hitting the like button or subscribe or share this podcast. I'm committed to your success and that of other women. And I want you to look forward to going into work each and every day , because much of the anxiety and the pressure you experience is gone. I need you to spread the word to other women together. We can transform this world. Have you ever looked at your career development with these three leadership mindsets? If you haven't, I would be honored to explore partnering relationship with you to develop and add more executive level skills to your bag of tricks. Check out the, your strategic edge coaching program. I offer with extras such as a typically $125 a month. Thrive at work mastermind virtual program with other dynamic executive women that I give you for free. When I'm coaching you, that's at www.thrivewithnancy.com forward slash executive slash. If you're interested in talking to me, click the link on the page to schedule a free discovery call. I'd love to discuss how together we can achieve. All you hope is possible for your career. And perhaps even to discuss some new ideas you've never thought of before. Let's bring all your giftedness and possibilities to life. Remember no one ever makes it to the top or even arrives at their next career destination alone.