Four Highlights of the ATD’23 Conference

Posted on June 5, 2023 by Trish Cotter

In May, I traveled to San Diego to present at the Association of Talent Development’s ATD ’23 conference which featured over 250 sessions to educate and inspire professionals in the talent development field.

This is a terrific conference for Learning and Development (L&D) leaders to share insights, research, and best practices, and when my colleague Rita B. Allen, and I learned our presentation was accepted for the conference, we were thrilled. (Rita, author of Personal Branding and founder of Rita B. Allen Associates, has presented at the conference before and says only a small percentage of submitted presentations are accepted, so this was music to our ears.)

Our session, titled Think Like an Entrepreneur: Foster Creativity in Your Organization, aimed to help L&D professionals take lessons from entrepreneurship and apply them to their organizations. This is different from the audiences of entrepreneurs I usually present to. With this audience, there is an opportunity to bring some frameworks that might help foster the entrepreneurial mindset in their organizations or unleash their inner entrepreneur. For that, I am grateful for the opportunity.

Since this message is something that we’d like to share more widely, I’ll be writing blog posts on the elements of our presentation, including disciplined entrepreneurship, an antifragile and entrepreneurial mindset, and energy leadership. Before I dive into those topics, however, I’d like to share four highlights of the conference – and positive messages that I walked away with. These are not in any particular order, other than they build on each other.

Adam Grant

If you’re not already a fan of Adam Grant, he is an organizational psychologist at Wharton, a best-selling author, and the host of the TED podcast WorkLife. If you don’t follow Adam on social media, I suggest you start – his practical advice on work/life balance is a breath of fresh air. Adam hosted the opening general session, titled Think Again: The Power of Knowing What You Don’t Know. He covered a lot of ground, but three things stood out from his keynote:

Invitations into your network should be given to “disagreeable givers” — blunt people who aren’t afraid to tell you hard truths, but who also have your best interests at heart. An example for those familiar with the Ted Lasso TV series is Roy Kent.
“Unlearning” often focuses on making room for new learning. This lets you address things you are doing that are not servicing you or others. Adam explains it takes courage to unlearn. Unlearning requires the integrity to admit that you were wrong yesterday. Learning is how you evolve. Unlearning is how you keep up as the world evolves.
As an entrepreneur, Adam also discussed scientific thinking and its impact on startups. Thinking more like a scientist, having the ability to pivot, individuals with the humility and curiosity to search for information all support entrepreneurship success.

Priya Parker

Facilitator, strategic advisor, and author Priya Parker presented on The Art of Gathering. Priya presented a new – at least new to me – way of thinking about how you hold meetings and gatherings. She spoke about how these gatherings should be intentional and benefit from setting expectations around the goals of the meeting, party, or gathering. The intent in the design is critical to ensure that both the host’s and guests’ experience is as intended.

This made me think about how I am designing my summer entrepreneurship classes with MIT/Dalhousie with specific learning content. I do focus on the experience for the students, but the classes are much more focused on the content. This talk offered me a fresh look at hosting and attending events from now on, putting some boundaries around what is acceptable. It works best if you are super-specific about the intention of a meeting (or another event) and specify what you intend to accomplish. Priya recommends starting with a strong opening and closing as opposed to covering logistics.

Katrina Kennedy

Known to the training community as “the trainer’s trainer,” Katrina Kennedy’s session was titled It’s All About Retrieval and discussed the retrieval of information. She explained that retrieval is more than just recall; retrieval is accomplished in a way that you have context for the information. Learning needs to be varied, spaced, and interleaved. The retrieval practice needs to focus on learning. How many times have you re-read material several times and still not been able to recall the information when it is required?

Retrieval in practice is what we refer to as “use it or lose it.” If you want to play a piece of music and it is difficult to start, the struggle to learn to play it is actually a “desirable difficult” process that helps you solidify the learning. This isn’t about repetition. It is about spacing and breaking up the learning. In the classes I teach, I use breakouts to discuss further and debrief concepts as well as games to reinforce learning. Still, this retrieval discussion brought both the unlearning and learning of new ways of teaching and the intention to gather for a class together. The most memorable experiences will be those in which you have “desirable difficulty.”

University of Pennsylvania Chief Learning Officer Ed.D. Program

One personal highlight at the conference was the scholarly presentations of University of Pennsylvania Chief Learning Officer (CLO) doctorate graduates. I graduated from this program with an M.Ed. ’13 and Ed.D. ’14 and couldn’t be prouder! I wanted to give a shout out to these amazing presentations by my fellow Penn CLO grads:

Dr. Carol Henry (Implications for Practice: Behaviors and Competencies for Future Leadership Development Programs)

Dr. Jennifer Neumaier presented her dissertation: A Perspective Study on Cultural Conditions That Enable Social Learning.

Dr. Kandi Wiens, is a Senior Fellow and runs the master’s portion of the program at Penn, also presented the Ed.D. program and her research which will be out in her book due out next year, Burnout Immunity: How Emotional Intelligence Can Help You Build Resilience and Heal Your Relationship with Work. (Read her recent HBR article on Has Cynicism Infected Your Organization?)

If there was any concern that COVID slowed down the Penn CLO program, it was clear that this was not the case! Applications are up, the strength of diverse cohorts was showcased, and the quality of the research adding to the field of Learning and Development and other areas was on display at ATD ‘23.

In closing, post-COVID travel to a conference can often feel tougher than before, yet the amazing and energized professionals I met, and the concepts discussed at gatherings like this were worth the effort and can unexpectedly warm your heart.

A New Resource for Global Entrepreneurs

Posted on March 31, 2023 by Trish Cotter

In my mind, entrepreneurs are the “grittiest” types of people around – I’ve been one and I’ve taught entrepreneurship to hundreds of students through the entrepreneurship programs at MIT, including my five years as the director of MIT’s delta v student venture accelerator program, which launches student start-ups into the real world.

“The harder the challenge, the more it builds you up,” explains Leslie Feinzaig, founder and managing director of the Graham & Walker Venture Fund, when discussing the recent Silicon Valley Bank collapse. “The best entrepreneurs I know will face a hundred insurmountable obstacles – and come back for the 101st because they actively believe that with enough time and opportunity, they will come out victorious.”

If this is your mindset, my new ebook was written for you. It is a resource for entrepreneurs as they face challenges unique to start-up founders.

As more people become entrepreneurs, they claim ownership of their future and help to drive the economy of their own country – and potentially global economies as well. Start-up companies fuel world economies and have created a $6.4 trillio n start-up economy.

Exploring Start-Up Accelerator Programs Worldwide

During the time I spent at the Martin Trust Center for MIT Entrepreneurship, I was fully immersed in a wide variety of innovative technologies and start-ups – including working with students who had come to MIT from all over the world. I also traveled to various countries to present and share our insights on entrepreneurship and to gain knowledge from programs abroad. And while there are many programs to support entrepreneurs in the United States, I realized that start-up founders from other countries have fewer resources available to guide them.

That planted a seed in my mind to create a guide for entrepreneurs who may be exploring ways to start their own businesses, especially in countries outside the U.S. In my current role as an entrepreneurship consultant and coach, I’ve taken on a project to develop this resource. I also hope this ebook serves as a resource for global accelerators, governments, and other stakeholders as well.

Global Venture Funding Activity

According to data compiled by Crunchbase, global venture funding in 2022 totaled $445 billion — 35% lower as compared to 2021, but $100 billion more than invested in 2020. Regionally, the U.S. secures most of this investment at nearly 50%, followed by China (10%), the U.K. (6%), and India (5%) based on Dealroom data.

Some entrepreneurs may think that they need to be in the United States because of the amount of investment money here, but we’re seeing more money flow to other regions as well. Today, there are lots of options for entrepreneurs globally. Often, students I worked with at MIT realized they needed more time to get the required product fit and build the company with customer feedback. The growth of accelerators worldwide provides options if they decide to leave the U.S. and grow their companies in another part of the world – whether it is their home country or a region that is a good launching pad for their product or service. This growth of accelerators, government support, and growing entrepreneurial communities worldwide can provide entrepreneurs with this needed support.

Diversity, thought leadership, and collaboration all work together to make the global ecosystem of entrepreneurs a much richer place. I hope that the information I’ve collected about entrepreneurship around the world and how different countries support their entrepreneurs is helpful in your pursuits.

As a note, this ebook is NOT meant to be comprehensive – it is more of a directional guide. It does not cover all regions or all countries in any region. I also realize that entrepreneurial ecosystems are continuously evolving, so new information will always be coming to light. To that end, I’ve published this ebook under a Creative Commons license – I am open to other contributors who want to add to this resource from here – please feel free to reach out.

Take the Next Step to Entrepreneurship

If you are a student, an entrepreneur, an entrepreneur-to-be, or you work in an accelerator or government that is working to encourage entrepreneurship, I hope this ebook provides you with insight and resources to explore entrepreneurship further in a global sense!

Download the PDF ebook:

An Introduction to Start-Up Accelerator Programs around the World

This free ebook was designed to be shared – you don’t even need to fill out any forms to gain access.

In the face of Massive Layoffs, why should I work with an Energy Leadership Coach?

Posted on December 8, 2022 by Trish Cotter

People in today’s workforce face stress – and lots of it. Layoffs, quiet quitting, a general sense of pandemic fatigue, and recessionary pressures are hitting all of us.

For corporate leaders, this stress is multiplied. Leaders are dealing with teams that are unmotivated and exhausted. In some organizations, leaders need to cut positions and continue to drive the business forward with fewer resources. Paradoxically, in other companies, there are open positions that are difficult to fill, and existing team members are stretched thin.

Burnout is real, and whether your company is primarily working from home, returning to the office, or trying a hybrid model these days – you are likely facing challenges and trying to figure out what works best. (Of course, some industries such as healthcare never had the option to work from home and the stress of these workplaces can be off the charts.)

What can we do about it? This article is about Energy Leadership™ and how you can use your energy to show up every day as your best self.

What is Energy Leadership?

Your life experiences significantly impact how you perceive things. This affects your energy in different situations. Although you may not be aware of it, you may be realizing less than your full potential at work, at home, or in social situations.

Energy Leadership refers to both a particular and unique form of leadership, and to the process of leading energy so that it works for you, rather than against you. By learning and applying the principles and concepts of Energy Leadership, you can increase your ability to shift your own energy and the energy of those around you. When you do that, you will help inspire and motivate yourself and others, feel a greater sense of purpose, get more done with much less effort and stress, and constantly attract positive and powerful people and success to you.

If you manage people, an entire team, or a whole organization, your responsibility – and ability to influence the energy of that group – grows. Every interaction presents the opportunity to lead and have a positive impact on others. You not only need to show up with your best energy, but you need to motivate your team to recognize and harness their own energy.

That’s where Energy Leadership Coaching comes in.

How is Energy Leadership Coaching Different from Other Types of Coaching?

Many people are familiar with an executive coach, a career coach, or a life coach – Energy Leadership Coaching is different from all of these, yet it can help you with each of these aspects of your life.

Energy Leadership Coaching begins with an Energy Leadership Index (ELI) assessment, which applies a numerical value to the types of energy you experience in different situations. It is not a personality test; it is an attitudinal assessment. We use this assessment as a starting point, and coaching helps you identify where you believe you would like to spend more of your energy to gain the results you want.

You can work with a certified Energy Leadership coach, like me, with over 300 hours of coaching through iPEC, the Institute for Professional Excellence in Coaching. This will help uncover your unique energetic profile and your energetic stress reaction, and how they can be harnessed to reach your specific goals and potentially shift awareness and mindset.

What Types of Energy May be Affecting Me?

You lead with your energy. Everyone has a unique level of energy due to lived experiences. Whether you are a corporate leader or not, your energy is how you lead and influence your friends, family, and colleagues. Everyone has the potential to positively or negatively affect those around them.

As an overview, there are two main types of energy: anabolic and catabolic. Anabolic is typically thought of as constructive, fueling, healing, and growth-oriented energy. Catabolic is typically thought of as draining, resisting, and contracting energy, yet catabolic energy can be helpful for focusing and protecting us when experiencing uncomfortable situations.

Both types of energy serve a powerful purpose. And you determine how to use each type of energy appropriately, either with a thought or mindset, emotion, action, or inaction.

Who Benefits Most from Energy Leadership Coaching?

Anyone who wants insight into where they are spending their energy can benefit from Energy Leadership coaching. It can help you find areas where you can do more of what you want to do and develop strategies to improve energy-zapping situations.

Why is this Especially Well-Suited for Corporate Leaders and their Teams?

Executives have developed patterns over time and are often frustrated by certain situations without understanding why. Energy Leadership helps bring issues to the forefront to let you make changes if necessary. How you show up matters and all of the people you interact with – whether employees or family or friends – look at your actions more than your words. With Energy Leadership coaching, you can identify patterns and learn to model your actions to best harness your energy.

Can Energy Leadership Help to Build Better Relationships with Remote Teams?

Connections are so key, particularly in a remote situation. Leaders need to consider how they show up to their employees. Are your employees just listening to video calls on mute and not interacting? Are new employees feeling connected to the organization and their teams? You can create an atmosphere of learning, risk-taking, and opportunities with a foundation of trust and creativity. However, you must understand what motivates you and your employees.

Improving team dynamics so there is accountability and understanding can significantly improve performance – whether in a remote, in-person, or hybrid situation. A manager or executive who feels there are barriers in the way of the organization’s creativity and communication can use Energy Leadership to improve interactions. Any time individuals or teams can better understand what is getting in the way of success – and fix the issue — results in a win for everyone involved.

What are the Takeaways?

Energy Leadership can profoundly change your leadership style. It helps you to become more self-aware and realize what messages you are sending, and how you can change this dynamic or shift your leadership style to bring out the best in your team.

Interested in learning more about Energy Leadership Coaching?

Send me an email and I’d be happy to share more information.

Celebrating Our Entrepreneurs

Posted on September 22, 2022 by Trish Cotter

Photo credit: MIT

It is with fond memories that I watched this year’s MIT delta v Demo Day presentations. Even though I was traveling out of the country, Demo Day generates the kind of enthusiasm and excitement that had me tuning in and watching the passion of these student entrepreneurs. (You can catch the replay of the Cambridge presentation here. The group also presented in San Francisco and New York City.)

MIT delta v Demo Day

Demo Day is an annual event that showcases the culmination of three months of work with the intensive delta v capstone educational accelerator program. Why am I so passionate about delta v? For five years I served as the director of this MIT program – a full immersion into a wide variety of innovative technologies and startups.

This year, watching from abroad, I saw a new cohort of entrepreneurs pitch their innovative and potentially world-changing companies to an audience of MIT students, mentors, friends, investors, and perhaps even customers. Kudos to Executive Director Paul Cheek, Jenny Larios Berlin, and Ben Soltoff, along with the entire Martin Trust Center staff for a successful Demo Day! Like any successful performance, there is an immense amount of hard work and preparation that goes into the final production. Like a proud parent, it was gratifying to pass the torch and see the program grow and move forward.

delta v 10-year Impact Study

In addition to celebrating this year’s delta v entrepreneurs, MIT just released an in-depth longitudinal study of the impact of delta v. I’d like to highlight some of the findings here to show how much this program has meant to the students and their startup companies, the MIT community, and to demonstrate the overall economic impact of the program.

The study was based on 10 cohorts of delta v students who comprised 181 teams. There were 692 participants during that time (67% were MIT students), and 322 of them (47%) responded to the survey. Some of the highlights include:

Survival Rate: Since its inception, 61% of delta v projects have become real companies that either continue to exist to this day or have been acquired. (For companies from the past five years of delta v, that number increases to 69%.)
Attractiveness to Investors: 63% of all the projects have resulted in companies that raised money.
Funding Attracted: The companies that have raised funding to date have totaled over $1 billion, and that continues to grow.
Founding Other Companies: Over 130 new additional companies have been created and raised an additional $2 billion beyond the companies started from the projects worked on in delta v.
Broader Entrepreneurship Communities: 68 (37.5%) of delta v startups were accepted into external, private/for-profit accelerators, including Y Combinator, TechStars, and Mass Challenge.
Connected Community: 83% of survey respondents say they are still in touch with their delta v cohort.

What’s Next for Me?

So, how can we help the next generation of entrepreneurs around the world be successful in their endeavors? Now that I’m working on the “fourth act” of my career, I’m working one-on-one with entrepreneurs and their startups in a consulting and coaching role.

These days I’m also traveling more for both pleasure and business. And, I’m working on an e-book resource on Global Entrepreneurship and Accelerator Programs around the World.

Interested in the e-book? Sign up here and I’ll send you a copy once it’s completed.

Regaining my Footing

Posted on July 26, 2022 by Trish Cotter

We take a lot of things for granted in this life … like walking.

Last winter I had some pretty extensive foot surgery. Sure, I expected some recovery time, but it was longer and involved more rehabilitation than I had counted on – I essentially needed to learn to walk again after being in a cast, and then a boot for three months.

Although this isn’t the heroic story of someone who learns to walk again after losing a limb or being in a severe accident, it certainly was humbling for me. This setback made me reflect on how, in life, sometimes you need to stop, assess, and start again from the beginning. When you can’t walk, it is certainly a wake-up call – and you put yourself in the hands of experts.

At some point in our lives, we all need to reach out for help and lean on other people (sometimes literally!). Taking those “baby steps” again as I re-learned the basics of balance, stability, and moving my body in the correct way made me think of the parallels to coaching. The physical shifts and the mental shifts involved mirror each other.

In my energy coaching practice, I am the one telling others to start at the beginning, work from the ground up, and lean on me for support. Just like my physical therapists, I am trying to help people get from one place to another. It’s not always easy, and often, it takes a lot of hard work over a period of time to get there.

I am now through the worst of it and walking several miles each day. I’ve realized the surgery and all the physical therapy were worth the end result. Here are the lessons I’ll try to hold on to and embed in my coaching practice:

Don’t take things for granted. Easy to say … hard to do. Be grateful for what you have and try not to be resentful when you no longer have those things.
It’s OK to start all over again. We are all starting from different places, and sometimes you need to regroup and go back to square one.
You will get discouraged. And angry. And furious. It’s natural to get discouraged but remember you are learning and perfecting the process.
Reach out for help. What resources do you have? Although it might not be in your nature, take stock of the people or organizations that are there to help and lean on them. When you lose hope, those folks can help lift you to the next milestone.
Take baby steps. It’s natural to want to hurry up and do all the things necessary to get better. But sometimes slow is good. If you can trust your guide (therapist/coach/mentor), learning each new step can end in a better result.
Be realistic. Be realistic with yourself that change is going to take time. Also be realistic about the milestones that will get you there.
Gain new perspectives. Sitting on the sidelines gives you a new appreciation, and also time to look at things with fresh eyes. Shifting your perspective may help you understand situations better
Be aware of your blind spots. Sometimes you don’t see the bumps in the road that may trip you up. When reassessing your goals, try to be consciously aware of your blind spots. Believe me, I have a new appreciation of physical accessibility issues, something that I had not considered much in the past.
Keep your skills current. This is always a good practice, but my forced slow-down gave me a chance to do some research and work on some new skills as I was recuperating.
Just keep swimming. As Dory tells Nemo, in Finding Nemo, “just keep swimming” or walking! Try to make forward progress each day. . Keep moving and you will regain strength, whether it is physical or mental.

Life may throw us curveballs, but we need to gain wisdom and knowledge from those experiences in order to forge ahead.

How to Hire for Diversity and Reap the Benefits

Posted on April 19, 2022 by Trish Cotter

Hiring struggles endure as companies try to employ and retain the talent needed to grow their businesses. The Great Resignation (or Great Reshuffle) continues in many industries as people consider new post-pandemic options. While nearly 4.3 million people in the U.S. quit their jobs in January (2022), there were also 11.3 million job openings, according to the latest report from the U.S. Department of Labor. What does this mean for hiring?

In my last blog post, I wrote about how to lead with empathy in hiring and recruitment practices. Part of leading with empathy is to make sure our workplaces are representative of the society we live in by implementing effective diversity, equity, and inclusion (DEI) hiring practices. This post will explore how companies and hiring managers can help make an impact, even when talent may be scarce.

There is much lip service given to diversity, equity, and inclusion, and some companies are making strides, but many companies are not. This quote resonated with me as a goal for DEI initiatives:

“As a society, if we begin to shape our practices around how we treat people, how our work environments are structured, the Great Reshuffle will end,” states Gina Ganesh, VP of People and Culture at Florence Healthcare. Treating all people well is the right thing to do. And hiring diverse candidates drives real progress, including bottom-line business results.

Diversity Drives Business Results

It has been proven that ethnically diverse companies perform 36% better than companies that are not. We’ll dive into that stat in a minute, but first, some important definitions and distinctions when thinking about a DEI recruiting strategy.

Diversity is the range of differences that make people unique, both seen and unseen. (Be mindful that diversity includes not only race and gender, but age, ethnicity, sexual orientation, physical disabilities, and neurodiversity).
Inclusion is an environment that engages multiple perspectives, different ideas, and individuals to define organizational policy and culture.

Remember, when you hire for diversity, you get the benefits of inclusion.

An important point according to Janet Stovall, Executive Communications Manager at UPS, in her TED talk. “Let’s be clear: diversity and inclusion are not the same things. Diversity is a numbers game. Inclusion is about impact. Companies can mandate diversity, but they have to cultivate inclusion.” Stovall is also clear that businesses can be a key force to dismantle racism.

McKinsey has done a series of studies on the topic of DEI and the latest study encompasses 15 countries and more than 1,000 large companies. This latest report, titled Diversity Wins shows that the relationship between diversity on executive teams and the likelihood of financial outperformance has strengthened over time.

See original source for all chart footnotes.

McKinsey explored how different approaches to inclusion and diversity could have shaped the trajectories of the companies in their data set and found two critical factors: a systematic business-led approach to inclusion and diversity, and bold action on inclusion.

One Leader’s Story on Building a Diverse Organization

The business case for DEI is there, but it’s not always easy. I’d like to (anonymously) share the story of a friend of mine who was trying to increase diverse hiring his organization.

He was the head of AI software for products at a Fortune 500 company and specifically set out to hire more female engineers. He met with his managers and discussed ideas. He challenged his staff to look through LinkedIn for candidates. He spent one morning combing through LinkedIn and personally wrote 100 cold/semi-cold emails to prospects.

I think it’s important to note that he didn’t delegate it out. From this initial outreach, he received 35 responses, and he reached out personally to all. Then he interviewed and hired several of these women. After a period of one year, 20% of his team were women – from less than 5% – and the percentages were still climbing.

A couple of things had to happen to make this work. He told his staff that they needed to get involved and invest in their networks – both college alumni networks and other networks of friends and past colleagues. He made it clear that hiring for diversity is key in jobs at every level. He also made sure that candidates met a diverse group of people within the company during interviews. His staff was taught to follow up with every candidate personally. These may seem like small things, but they were game changers for both the new employees and the organization’s depth.

Unfortunately, there is bad news here. Two years after this initiative, there was a full reorganization and my friend parted ways with this company. The commitment to hiring for diversity was not sustained, the DEI focus faded within the organization, and progress was lost. I believe that the moral of this story is that enabling real change takes both time and commitment, and awareness is only the first step.

Beyond the Rooney Rule

The “Rooney Rule” – a diversity initiative started by the National Football League that calls for interviewing minority candidates for top jobs – has been adopted by corporate America, but experts believe it hasn’t made much of an impact.

As companies release detailed information about the diversity of their workforces, the data shows that women and people of color are well-represented in the lowest rungs of many company workforces, but there’s often little representation in leadership roles and board positions. When companies adopt a Rooney Rule, they’re pledging to add at least one candidate to their interview pool to increase gender and racial diversity, but that’s usually not enough to foster real change.

To make a meaningful impact, hiring managers should aim to interview a slate of candidates that’s 30% diverse, according to Alina Polonskaia, global leader of the D&I practice at executive recruiter Korn Ferry. Companies could also set a standard of having their executive ranks mirror the gender and race breakdown of the usually much-more-diverse entry-level workforce. In addition, employers should also use the same diversity standards they are applying for new hires to people being considered for promotions.

How Diversity can be Your Superpower

Let’s take a look at a study focused on hiring for B2B sales roles. This study by Forrester, commissioned by Outreach, confirms it is time for us all to commit to diversity, equity, and inclusion. Since sellers are the first point of contact for a company, sales reps must represent the world around them, and organizations must commit to DEI or risk losing revenue and talent.

Sales leaders understand the need for diverse teams; 67% of respondents say it’s important for their team to represent the world around them. However, although sales respondents in North America say DEI is important, they are not ranking DEI efforts over other priorities. Respondents ranked almost every other sales leadership skill before DEI. Yet, customers are demanding diversity now.

A separate Forrester Study on Diversity Drives Sales Success, reports the following metrics:

60% of respondents stated that diversity within their sales team has contributed to their teams’ success.
82% predict that the racial or ethnic diversity of their sales team will be equally or more important in the next two years.
72% believe that DEI will play an equally important or more important role in business decisions in the next two years.

They conclude that companies with strong DEI practices have better-performing sales teams, including higher forecasts, higher conversion rates, and higher sales attainment.

How to Walk the Walk

The Inclusion Solution blog points out, “it’s not just about introducing shiny new initiatives and hiring the first head of DEIBJ (diversity, equity, inclusion, belonging, and justice) — it’s about displaying a real, sustainable commitment to these efforts through financial and human resources deployed over time… not just when the cameras are rolling and the topic is trending.”

To that end, here are some strategies and ideas on how to walk the walk and incorporated diversity in your hiring to reap the benefits of inclusivity. Some are tactical tips, others are broader, more strategic initiatives gathered from the reports, experts, and sources mentioned in this blog.

Focus on developing an equitable talent process, purposely create diverse and inclusive teams, and create development programs for under-represented groups. (Korn Ferry)
When conducting campus recruiting, think beyond Ivy League schools and schools you may be personally connected to, and consider Minority-Serving Institutions (MSIs) (Excelencia in Education)
A “work from anywhere” environment can foster diversity hires. In an all-virtual environment, there are very few limitations in terms of where to find talent. (Bloomberg)
Challenge your definitions of “professionalism” and “leadership” within your organization – and then hire and promote diverse leaders. (Mac’s List)
Broaden your lens on DE&I, including embracing neurodiversity. One big benefit of an inclusive work culture is that it fosters diversity of thought, different approaches to work, innovation, and creativity. (Deloitte)
Provide education around and try to use inclusive language. (Mac’s List)
Training is a good start, but mature organizations do more. Leaders need to model inclusive behavior, and the organization as a whole needs to value and measure progress toward DEI goals. (Forrester)
Strengthen leadership accountability and capabilities for inclusion and diversity (I&D). Companies should place their core-business leaders and managers at the heart of the I&D effort—beyond the HR function or employee resource-group leaders. (McKinsey)
Enable equality of opportunity through fairness and transparency. Deploy analytics tools to show that promotions, pay processes, and the criteria behind them, are transparent and fair. (McKinsey)
If companies want to do a better job of retaining diverse talent, they can’t go back to “business as usual.” It’s time to make work more equitable, and while flexibility is not the panacea, it is a step in the right direction. (Harvard Business Review)
Workers overall want to feel like their boss cares about them. Gen Z wants a culture built on mental health and wellness. (LinkedIn)
Flexibility is increasingly prized, particularly by underrepresented groups. Leaders who hope to retain top talent and maintain diversity must act swiftly and deliberately to counter the forces of proximity bias. (i.e., if managers spend most of their time working in the office, that is likely to lead to a double standard of valuing employees who also come into the office). (Future Forum)
Continue pushing the conversation forward, even if you don’t have all the answers. DEI strategy is an essential element of building a strong business that is able to attract and retain great talent and connect with a diverse customer base. (Forrester)

As you search out new talent, there are a lot of nuances that you need to consider. Your HR team may have guidelines, and you may want to “go with your gut” in terms of what is right, but there are many factors and issues involved. Educate yourself and become an agent for change, dedicating the time and commitment necessary to foster inclusivity for all.

Leading with Empathy – A New Outlook on Hiring and Retention

Posted on January 12, 2022 by Trish Cotter

As we enter the new year, HR managers and CEOs face a wake-up call. Employee recruitment and retention are major priorities for so many businesses this year, with companies unable to fill positions as we face continued uncertainty with COVID and the Great Resignation – now also being termed the Great Reshuffle.

The most recent statistics from the U.S. labor department said there were 10.6 million job openings at the end of November 2021 and 6.9 million unemployed people – 1.5 jobs per unemployed person. The number of “quits” hit a new high of 4.5 million in November. An article in The Guardian explains, “Quitting, most economists will tell you, is usually an expression of optimism. And yet, 2021’s quits happened against a larger economic picture that remains difficult to interpret with confidence.”

Some of the reasons people are quitting their jobs, according to USA Today and The Guardian, include:

Retirement – Most of the 5 million people who have left the labor force since the start of the pandemic are over 55 and have retired – early or naturally.
Career or industry switching – Others are switching careers or industries, for example, from restaurants and hotels to technology and warehousing, leaving some sectors with lots of openings and fewer candidates to fill them. Not surprisingly, given the stress on educators over the past two years, teachers are most likely to leave the labor force as compared to their counterparts in other industries.
Work-life balance – Thirteen percent of workers said they quit because their jobs didn’t provide work-life balance.
Care insecurity – Related to work-life balance, mothers with college degrees and telework-compatible jobs were more likely to exit the labor force and more likely to be on leave than women without children. One of the underlying reasons is an unequal distribution of labor at home and a critical degree of burnout contributing to “care insecurity.” Care insecurity is defined as uncertainty about daycare and school schedules that are unpredictably interrupted by periods of quarantine prompted by exposure to COVID.
Entrepreneurship – One-third of workers quit jobs to launch businesses. This may be either necessity- or innovation-based entrepreneurs.

The short-term outlook for the labor market suggests workers are likely to continue to have considerable bargaining power in 2022, says Indeed in its 2022 Labor Market Outlook report. But interestingly, job seekers remain hesitant. Active job search – that is, people taking specific steps to land work, like responding to job ads – hasn’t budged since the summer.

Where does all of this leave employers as they seek to recruit solid candidates to fill open positions?

Recruiting During a Time of Resentment

From the conversations I’ve had with friends, family, and colleagues recently, businesses that are hiring aren’t doing themselves any favors. Too many companies are approaching recruiting without empathy making it difficult to recruit good people. At the same time, prospective employees are hesitant and may have negative experiences with previous employers. Maybe it’s time for HR Managers to take a step back and look at their hiring processes.

You’re essentially recruiting during a time of resentment. People are disheartened, they’re tired, they’re sick of COVID, and at times sick from COVID. They may be working in an industry, such as healthcare, teaching, hospitality, or retail, where they are on the front lines every day and are looking for something different and less stressful. On the other hand, many office workers have the advantage of being able to work remotely, but that has its challenges as well. Are they being supported and mentored? Are they learning and growing? If this is going to be the new normal – rather than just a phase to get through – are you fully invested in making it successful?

New recruits will be precious resources in your company. Do you understand how to communicate effectively and listen to their thoughts and ideas?

5 Tips for Hiring and Retaining Employees with Empathy

Here’s a collection of tips for hiring with empathy. I believe that companies who approach their hiring process this way demonstrate to recruits that they support their employees and provide a positive work environment. Empathy then needs to be reflected in the workplace to retain your talent.

Stop Ghosting Prospects

Maybe this should be common sense, but it’s not. If a candidate has taken the time to interview with you, they at least deserve a response – positive or negative. And a candidate who may not be right for a specific position today may be worth connecting with in the future, so keep that door open. Although many companies are using recruiting technology to automate the hiring process, we need to remember that there are real people behind each resume.

Fifty-two percent of job hunters say a lack of response from employers is their biggest frustration, according to Websolutions. In the current hiring environment, candidates have higher expectations for proactive, transparent, and frequent communications from employers. This needs to be communicated from the heads of HR to all the hiring managers involved in the process. If your current screening process is handled by a bot, you could be losing out to great people including referrals from current employees.

2. Prioritize Soft Skills

LinkedIn’s Global Talent Trends survey shows that bad hires are almost never a matter of hard skills alone. Prioritize soft skills – such as creativity, persuasion, collaboration, adaptability, and time management – in your hiring process. Although hard skills certainly matter, most hiring and firing decisions come down to soft skills.

Part of the issue is that soft skills are more difficult to evaluate than hard skills. You can reasonably determine if a programmer has the right coding skills, or a translator has the right language skills, to perform adequately in their jobs. However, identifying poor soft skills is much harder, which is why this is often discovered too late, after a hire has been made.

Source: LinkedIn

3. Fully support Flexibility and Remote Work

Pre-pandemic, businesses expected that in five years 38% of their remote workforce would be fully remote, while today they expect 58% to be fully remote in five years, says Upwork in its Future Workforce report.

Career Builder adds that 35% of job seekers say they will turn down an offer if the employer does not offer a remote work option. The pandemic has forced the issue of remote work and flexible work schedules, making it a priority for employees. As companies consider return-to-the-office policies, they must realize there has been a mindset shift for many employees, and flexibility is now valued more than ever. It may be better for business too.

An Airtasker survey shows on average, remote employees work 1.4 more days every month, or 16.8 more days every year, than those who work in an office – and on workdays, they spend more time getting things done. Many workers are more productive and less stressed in a work-from-home environment since there is no commute, less water cooler talk, and more opportunity to fit exercise into their daily routine.

Source: Airtasker

4. Hire People You want to Coach

As a certified, professional coach, I spend time coaching people on energy leadership, and how you “show up” truly matters. Are you hiring people who will show up with an positive attitude and a mindset to think out of the box, bring all their creative skills, and work as a team?

Companies need to look at their interviewing process in a couple of ways. Are they looking to find the perfect candidate, or can they hire for aptitude and attitude? If they can identify the right aptitude and attitude, will the company culture embrace that and provide the training to help them grow? You may want to map out your hiring process from the humanistic viewpoint.

5. Listen to People to Retain Them

Once you’ve hired good people, you need to work hard to keep them. According to a recent Fast Company article, 2022 will be a key year for companies to live up to their promises to employees, or risk losing them. The best way to retain workers includes listening to their needs, accommodating their different work styles, and addressing inequities.

One member of the Fast Company Impact Council, Angie Klein, CEO of Visible, predicts, “We’re going to see a pretty big shift from talking about The Great Resignation to ‘The Great Retention,’ with [companies] focused on doing what it takes to keep talent. Employees aren’t really leaving because they’re unsatisfied—some are—but because they want to see what’s out there at a time when it seems far less risky to do so. Putting in proactive-retention measures while ensuring that we manage to drive meaning and purpose—there will be a heavy focus in retention like we have never seen before in corporate America.”

One employee retention tool that is gaining popularity is the “Stay Interview,” where a manager sits down with an employee to explore what it takes them to stay at the company. Ideally, these are regularly occurring conversations, built on a foundation of trust, where the employer doesn’t only focus on the job, but the individual’s professional and life goals.

Conclusion

Recruiting and retention are always challenging, but our current environment makes it even more so. However, I don’t believe the number of jobs out there is the reason you can’t find good people. I believe the primary issue is that companies are not putting the proper emphasis on recruiting and retaining talent, including a humanistic approach.

To find the right people, you may want to look at your processes and see if you can create a more empathetic way to attract and keep the best people.

A Coach’s Insider Advice for Filling Open Positions

Posted on October 25, 2021 by Trish Cotter

As a coach and a mentor, I’m often asked for advice from job seekers. We are in a unique job market right now, a recent survey by Bankrate shows that 55% of Americans anticipate looking for a new job over the next year. This phenomenon has been nicknamed the Great Resignation by media outlets.

In response to the pandemic, “there have been a lot of epiphanies and reckonings that have occurred … with respect with how we’re prioritizing ultimately our values, and of course how work fits into that,” says Mark Hamrick, senior economic analyst at Bankrate, the company that conducted the research. Americans are prioritizing flexible work arrangements, higher pay, and job security in their search.

Flexibility is now the fastest-rising job priority in the U.S., according to a poll of more than 5,000 LinkedIn members. Working parents want to adjust their hours to suit their parenting schedules, single people want the freedom to change cities, while still keeping the same employer. Freedom and personal control within a job feel like much more vital priorities.

And yet, there hasn’t been much change in the hiring and recruiting process. As companies look to fill roles, there are too few people for open positions. Hiring managers and staff are investing more of their own time and paying recruiters, but jobs remain open. It’s time to shake up the process and hire for aptitude and then invest in training good people.

According to the Bureau of Labor Statistics, job openings surged to an all-time high of 10.1 million at the end of June, outnumbering the 8.7 million unemployed individuals. Given these stats, you would think that companies would be trying hard to connect with job seekers and make the right fit to fill these open positions. But companies and hiring managers need to think outside the box and expand their horizons. Are you actively looking to recruit women who have taken a break from the workforce with flexibility and daycare options? Are you proactively reaching out to diverse talent sourcing and recruiting associations? Have you considered making your educational requirements less stringent to open the pool of candidates to those with relevant life experience? Are you considering the value of older candidates who can bring years of knowledge and mentorship to the position?

Rather than stick to the way your company has always done things, focus on aptitude, empathy, and coachability. Here are some insightful questions that should prompt real conversations about success that can be accomplished if the company and candidate end up working together.

Tell me about an achievement that you are proud of – either personal or professional – and what you did to make that happen. This is very open ended and lets the candidate demonstrate goals and success.
In your research on our company, what is something you found that we could change or do differently to be more successful? This will let the candidate know you are open to their input and will may uncover some new ideas from a fresh perspective.
How do you think you can make a difference in our organization? Again, it gives the candidate a chance to show big picture thinking and define what success could look like.
What skills are you working on improving, and how do you plan to get there? The opposite of the “weakness” question, this is a positive spin on skill development and opportunities, and shows if someone is a lifelong learner.
Do you feel that you would be a good cultural fit here? If not, what could we do differently? This can start discussions on diversity and supporting all employees. Although some candidates may not feel comfortable opening up, if the interviewer lets the candidate know they are striving to be inclusive, it may go a long way.

An interview shouldn’t be an interrogation or include tricks or puzzles to solve to make it to the next level. Adam Grant, organizational psychologist at Wharton, recently wrote an article for The Wall Street Journal, titled, The Real Meaning of Freedom at Work, in which he states, “For several generations, we’ve organized our lives around our work. Our jobs have determined where we make our homes, when we see our families and what we can squeeze in during our downtime. It might be time to start planning our work around our lives.”

As you are recruiting to fill open roles in your organization, do so with the goal of truly assessing the fit of this person for this role and your organization – and do so with an open mind toward hiring for aptitude.

Taking a Well-Deserved Break … and What I’ve Learned

Posted on August 9, 2021 by Trish Cotter

Recently, I left my job at MIT, and I don’t have another job. As the Executive Director of the Martin Trust Center for MIT Entrepreneurship, my days (and many nights) were filled with activity – working with students, teaching, and shaping entrepreneurship education programs. All that has stopped, and I’ve taken time to be still, breathe, take stock, and think.

This time of reflection is providing me a much clearer view of what is possible—and realizing the big picture is even bigger than I thought. Quitting your job is not for everyone (and I am very fortunate that I’m in a position where I could do that), however, taking time to make room for other activities is something I highly recommend to everyone. Creating space to see that there are other opportunities, different ways to work, new skills to learn, and passions to embrace is enlightening. (My new passion is tennis! Who knew?)

I have had three acts thus far in my career. I held roles from engineer to executive in tech companies. Then, as an entrepreneur, I navigated two startups through to IPOs, and my third act was a career in academia teaching entrepreneurship in the classroom and through hands-on programs. Each transition had its moments where I said, “What did I get myself into?!” Yet, digging in and being open to learning proved to be rewarding in every case. I’ve had great rides with successful companies, enjoyed relationships with diverse and interesting colleagues, and embarked on learning experiences I could never have imagined. I have traveled the world, thrived in new environments, and have seen colleagues soar and cheered on their success. I’ve learned so much about people and how they think, work, celebrate, and come back from setbacks. It makes you realize that the people you work with truly can make or break any job experience.

As someone with many, varied job experiences, I’ve realized that experience is double-edged sword. On the one hand, you know how to do things, and perhaps you have even forgotten what others have not yet learned. However, experience also can leave you in a lane you know too well and prevent you from taking the risk of trying—and potentially failing—at new skills. When you are starting fresh, you know there will be new risks, new failures, and new experiences.

I am extremely fortunate to have enjoyed every job I’ve had, but I do realize my enjoyment of work is dependent on my own attitude and approach. Approaching each new role as a learning experience helps you get over the hurdles and enjoy the successes. I’ve worked with folks who had deep expertise but lacked some of the skills I have, and we ended up being a terrific team. I am fortunate to have friends from my very first job and from my most recent job, and I make a concerted effort to keep in touch with these people. My network—and talent tree—is something that was built organically with people I enjoy, and it makes a career so rewarding.

In my research findings for my doctorate, it wasn’t a real surprise that matching new graduates with seasoned employees in data analytics roles was a recipe for success. The veterans could contextualize situations for the students based on experience, and the recent graduates would apply that context to achieve a much more robust analysis. Later, my work at MIT included building mentorship programs and creating networking relationships between students, alumni, and startup founders. When I was no longer running these programs, I realized I needed to apply my networking and mentorship skills to myself as well.

Although I am a certified professional coach, it’s true that even coaches need a coach. If you want to do something different and are unsure about how to get there, working with a coach is a perfect way to figure out these decisions. I needed a coach to look at why I was working so hard; although I enjoyed the work and the people, it didn’t feel like it was enough for me at the time. My coach helped me realign my values and aspirations—something that had not been done for quite some time.

I have always been curious, optimistic, and a contributor, but I needed more balance, less commuting (yes, I still commuted through most of the pandemic!), and a good challenge to be passionate about. The first two were difficult to manage in my last job, but there was no lack of challenge, in fact, there were actually too many challenges! I spread myself so thin because I wanted to do everything and for everyone—and this led to an erosion in my passion for my job.

So, as I take time to reflect, I’m betting on myself and focusing on balance. Just creating the space to reflect has let me think about of all sorts of exciting things I can do next, both professionally and personally. I am enthusiastic about the future and approaching new challenges with the renewed energy that taking a break has given me. I hope my story inspires you to give yourself some space to think, reflect and renew!

On to the Next Chapter …

Posted on May 11, 2021 by Trish Cotter

Have you ever finished a riveting book and realized that the plot, characters, and setting have left an indelible mark on your being? That is how I will always remember the Martin Trust Center for MIT Entrepreneurship – the people, energy, and ideas will forever imprint the fabric of my life.

When I joined the Trust Center nearly six years ago, I blogged about Disciplined Entrepreneurship – the framework we use for the entrepreneurship program at MIT’s Trust Center based on the book by Bill Aulet, the Center’s Managing Director. One of the ideas that resonated with me then, and continues to do so, is that “ideas mean nothing without execution.”

Reflecting on the past six years, I realize that my time at MIT was about more than a job, it was about the execution of entrepreneurship. It was a chance to shape the lives of aspiring entrepreneurs who had big dreams and ideas to change the world for the better and help them to shape and execute those ideas into concrete plans. At the Trust Center, we like to say that MIT’s student entrepreneurs tackle the world’s big problems, and it was exciting to help make that happen.

Here’s the synopsis of how I landed at the Trust Center, and filled many roles, ultimately becoming the Director of MIT delta v, as well as an Entrepreneur-in-Residence and a lecturer at the MIT Sloan School of Management on entrepreneurship topics.

In 2014, I had completed my doctorate in work-based learning at the University of Pennsylvania’s Chief Learning Officer program, and I wasn’t sure what my next step should be. I had the option to get back into the corporate world and focus on business analytics, but instead decided to pursue a role in education. I was hired by MIT as an Entrepreneur-in-Residence and to help lead the student venture accelerator program, which is now known as delta v. From there, my role has expanded to teaching entrepreneurship classes, spearheading global programs, and becoming a spokesperson and thought leader representing MIT’s entrepreneurship initiatives.

This was definitely something new and different for me, and I had to push myself out of my comfort zone and embrace the challenge. The results achieved have certainly been beyond what I could have anticipated six years ago, including the expansion of the Trust Center – both physically and via online with Orbit, growing delta v both in size and in scope, partnerships with other universities, and instituting a flagship program to support the mental health of entrepreneurs. There were also many awards and accolades along the way, both personally and for the program.

But I’m not here to toot my own horn … I want to sincerely thank the whole team at the Trust Center for their support, teamwork, and camaraderie over the years – our group is quite the entrepreneurial talent tree. I’d also like to thank all the students who I was able to work with and mentor on their entrepreneurial journeys. Your enthusiasm and bright light made the hard parts of this job rewarding and worthwhile.

For those of you who are rethinking your own career situation, after the past year this may be exactly the right time to open yourself up to new experiences and find that that your next chapter was better than your last. I am leaving a job I love for the unknown – of course, this is a risk, but as an entrepreneur you bet on yourself, and make the choice to wake up with a “wow” in terms of what is going to happen today.

For me, this is the time to move beyond what has become well-loved and comfortable, and to take a leap into the next chapter – the fourth in my career. First, I was an engineer who moved up through the executive ranks. Second, I focused on startups, leading two companies to successful exits. Third, was my move into academia at MIT by leveraging my startup experience. And, for the fourth chapter, I’m not 100% sure what it will be yet, but stay tuned – that is the exciting part!