The Development of Leadership
GOALS
HABITS
RESULTS
Andrew Bay, BA. CFP.
Division Director, Senior Financial Consultant
Bay Wealth Management BWM, Investors Group
Introduction
DMD
EBA
FOCUS
HUNTER LAIRD
INTERCAD
ISK
KLOHN
LEVELTON
MCELHANNEY
MMM
18 Years Servicing The Industry
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MOFFAT NICHOL
MORRISONHERSHFEILD
NORTHWEST
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Accredited Educators
YPG Sponsors &
Mentorship
Succession Planning
Business Structuring
Corporate Investing
Individual Financial
Advising
Association Group
Benefit Provider &
Insurance Specialists
The Leadership Gap –
What Are Soft Skills?
• Business Development – Marketing
and Sales
• Finance and Legal
• People Management
The Leadership Gap –
“Staff without these additional skills
are OFTEN inappropriate for
promotion to increasingly senior
positions within member
companies”.
The Leadership Gap –
What IS Leadership?
"a process of social influence in which a person can enlist the
aid and support of others in the accomplishment of a common
task".[
WikiPedia
The Development of
Leadership
Leadership
Isn’t
comfortable
The Leadership Gap –
Perception of the Problem
23 Leadership Interviews
• 14 Private Companies
• 6 Public Companies
• 2 Municipal Government
The Leadership Gap – Perception Problem
[The Perceiver] Who are they?
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Younger ‘Baby Boomers’
Started their career in the 80’s
Struggled through tough economic times early
3 firms on average before current
The Leadership Gap
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Perception of the Problem
Age Demographics & Economics
Procrastination
Industry Best Practices
Generational Attitudes
Opportunities for Development
The Leadership Gap
The Perception – > [Strengths] Positive
Traits
• Demonstrate initiative – ask for it!
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Demonstrate personal responsibility (own everything you do)
Not afraid of blame
Comfort with ambiguity
Be a quick thinker, but use good judgement before acting
Have a “wide vision” (not just your responsibilities within the
organization)
Strong conflict resolution skills
Act on an even keel (calm in the storm – stay cool)
Well travelled – wisdom in experience
Passion – natural curiosity
Strategic thinker – business minded
Strong character (unique and interesting – lots of outside interests)
Demonstrate you are committed for the long term
The Leadership Gap – Perception –>
[The Growth Opportunities] Negative
Traits
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Avoidance in taking personal responsibility
Too altruistic (“holier than thou” mentality)
Don’t appear to learn from mistakes
Ignorant of requirements to advance
Wanting something they don’t appear suited for (project
management but no interpersonal skills demonstrated)
Terrible written communication skills
Too focused on improving technical skills over soft skills
Not asking enough questions – making too many
assumptions
More interested in “status” than “accomplishment”
The Leadership Gap –
Age Demographics
• Millennials (Gen Y) 1980 - 2000
• Gen X
1965 - 1979
• Baby Boomers
1946 - 1964
The Leadership Gap –
Age Demographics
The Leadership Gap –
Age Demographics
Business Insider/Matthew Boesler
(data from St. Louis Fed)
The Leadership Gap –
Age Demographics
“19 percent of managers and 29 percent of
executives (will be) eligible for retirement by 2015.
PricewaterhouseCoopers (PwC) Saratoga’s
“2008/2009 Human Capital Effectiveness
Report,”
The Leadership Gap –
Age Demographics
The Leadership Gap –
Age Demographics and Economics
The Leadership Gap –
Age Demographics and Economics
The War for Talent
The Leadership Gap –
Procrastination
Oracle
Seven Steps for Effective Leadership Development
June 2012
The Leadership Gap –
Procrastination
Nearly half (46 percent) of companies said
“leadership” was the skill hardest to find in
employees and only 36 percent of
employees listed “leadership” as a strength
in their organizations
Of the companies polled, 39 percent offer
leadership development programs, but only
15 percent of employees feel the training
they receive is preparing them for the next
position
Saba and WorkplaceTrends.com
The Global Workforce Leadership Survey
March 31, 2015
The Leadership Gap –
Age Demographics and Economics
• Just over 1 in 5 Engineers today will leave (retire) the BC labour market by the
end of the forecast period.
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1 in 4 in Southeastern BC and the Vancouver Island Coast region
1 in 2 Engineering Managers
On average 800-850 will leave in each of the 10 years
Median age at retirement is between 63-64,
• averages by occupation not available
• Technologists and Technicians are losing experienced workers at a faster rate (1
in 4)
• 1 in 5 in Northern BC
• averaging over 900 a year
• 1 in 2 Supervisors, Petroleum, Gas and Chemical Processing and Utilities will leave over
the 10-year forecast.
• Median age at retirement is between 61-62
• Just under 1 in 4 Geoscientists and Oceanographers
• Median age at retirement is 67
Asia Pacific Gateway
Skills Table - 2015
The Leadership Gap –
Age Demographics and Economics
Engineers
• 15,600 jobs will need to be filled
• 47% generated by Expansion
• 53% by Attrition
• just under 2% of the estimated job openings in BC
Technologists and Technicians
• 14,770 jobs will need to be filled
• 61% generated by Expansion
• 39% by Attrition
• just over 1.5% of the estimated job openings in BC
Geoscientists and Oceanographers
• 780 jobs will need to be filled
• 30% generated by Expansion
• 70% by Attrition
Asia Pacific Gateway
Skills Table - 2015
The Leadership Gap –
Age Demographics and Economics
90,000
Labour Force Supply: All E, T&T Occupations, British
Columbia Moderate Scenario
85,000
80,000
75,000
70,000
65,000
60,000
55,000
2015
2016
Asia Pacific Gateway
Skills Table - 2015
2017
2018
2019
2020
2021
2022
2023
Base Supply
2024
The Leadership Gap –
Industry Best Practices
• CEEA initiatives
• Formalized Mentorship Programs
• YPGs – in house and industry Programs
The Leadership Gap –
Industry Best Practices
Build your network by getting involved
Don’t be afraid to take some reasonable risk
Take some time to think and act strategically
Learn to listen, probe, and comprehend issues
Build and apply your soft skills (beyond technical)
Speak up in an informed and articulate manner
Continually find and develop successors
Identify your mentors in both formal and informal
situations
• Keep balance in your life
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Allan Russell,
President and CEO of McElhanney
The Leadership Gap –
Age Demographics
How Millennials Could Upend Wall Street and Corporate America
Morley Winograd and Dr. Michael Hais - May 2014
The Leadership Gap –
Generational Attitude
The Leadership Gap –
Development – Belief System
Belief System
The Leadership Gap –
Development – Belief System
Cal Newport – Solving Gen Y’s Passion Problem
September 2012
The Leadership Gap –
Development – Belief System
1/ Be patient – finding one’s passion takes time
2/ Passion is a privilege – not an entitlement
3/ Work hard while you wait
The Leadership Gap –
Development – Belief System
Beliefs
Results
Attitudes
Habits
The Leadership Gap –
Development – Belief System
What am I
really good at?
What makes
me $$$?
Passion
What do I
enjoy doing?
What makes a
difference?
The Leadership Gap –
Development – Change Habits
Top Leadership Traits / Habits
• High Emotional Intelligence
• Excellent Communication Skills
• Strong Confidence
The Leadership Gap –
Development - EQ
What is EQ?
Emotional intelligence (EI) is the ability to recognize
one's own and other people's emotions, to
discriminate between different feelings and label them
appropriately, and to use emotional information to
guide thinking and behavior
The Leadership Gap –
Development - EQ
EQ accounted for 67% of the abilities
deemed necessary for superior
performance in leaders, and mattered
twice as much as technical expertise
or IQ
Goleman, D. (1998). Working With Emotional
Intelligence
The Leadership Gap –
Development - EQ
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Self-Awareness
Self-Regulation
Motivation
Empathy
Social Skill
The Leadership Gap –
Development - EQ
The Leadership Gap –
Development - EQ
The Leadership Gap –
Development - EQ
The Leadership Gap –
Development - EQ
The Leadership Gap –
Development - EQ
The Leadership Gap –
Development - EQ
Tests for EQ?
The Leadership Gap –
Development - EQ
Can EQ be
learned or
improved
upon?
Yes!!
The Leadership Gap –
Development - Communication
How do we communicate?
• 7% Word Choice
• 38% Vocal Tonality
• 55% Body
Language
Dr. Laura Sicola
The Leadership Gap –
Development - Communication
“Vocal Executive Presence”
Dr. Laura Sicola
The Leadership Gap –
Development - Communication
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Toastmasters/Dale Carnegie
Volunteering
Social Events
Public Speaking
Association involvement
Listen to Great Speeches
Committee Work
Sing
The Leadership Gap –
Development – Build Confidence
“21 Day Positive Focus”
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What were your five top accomplishments for the day?
Why did they matter to you?
How can you build on them?
What specific steps do you need to take to build on
them?
Dan Sullivan
The Leadership Gap –
Development – Read Great Books
Top 8 Reads from todays Leadership
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The Prince (Niccolo Machiavelli)
Catcher in the Rye (J.D. Salinger)
How to Win Friends and Influence People (Dale Carnegie)
5 Dysfunctions of a Team (Patrick Lencioni
Good to Great (James Collins)
Built to Last (James Collins)
7 Habits of Highly Effective People (Stephen Covey)
What Got You Here Won’t Get you There (Marshall Goldsmith)
The Leadership Gap –
Development – Follow Wise Words
Parting Advice Quotes • Be patient (persevere when it’s not fun – you will be rewarded
eventually!)
• Find a mentor – don’t ask, just glob onto someone you want to
emulate
• If asked to do something you don’t like – do it (with a smile on your
face)
• The 80% of what we do is pretty ordinary, but it must be done, and it
allows us to do the 20% that’s pretty damn cool
• Be goal oriented –and less egalitarian! Don’t be afraid to want to win
• Have a service mindset within your team
• Take opportunities that seem interesting – don’t be risk adverse
• Be humble and compassionate to your peers
The Leadership Gap –
Development – Follow Wise Words
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Define your goals
Build a sustainable belief system
Discover your gaps (opportunities)
Develop mentorship and training
Fulfill your passion!!
The Leadership Gap
Thank you!