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Mentoring is defined as career advice and guidance and sponsorship is advocacy. High performing women need to take control of their own career advancement. Communicate your intention to advance your career. o Make sure your position has P&L responsibility. They need to advocate for an advocate or sponsor.
Studies show that a person’s emotional intelligence (the ability to manage one’s own emotions and the emotions of others) is not only more important than their IQ, but the single most important variable in career and life success. It is a must-have for every HR and L&D pros’ library and toolkit. ” 10.
The CFO update in particular was excellent – we learned how the company measured financial success, how to read a basic P&L, and what variable costs employees could help control in their jobs. I cut my teeth on corporate America there and have carried those lesson with me throughout my career.
I've written about the rising significance of soft skills, including in the March 2011 issue of HBR (coauthored with Kevin L. The CIO has to know what's going on in finance and marketing, for instance, and P&L experience is important even for support functions like humanresources.
Two decades ago, organizations were designed around stand-alone business units, so all managers had to understand finance, technology, manufacturing, sales, marketing, strategy, humanresources, and more. If successful, they then were given responsibility for increasingly larger businesses.
Every manager has a P&L that he or she is responsible for," he says, "and while we don''t make sharing rooms a hard and fast rule, it''s our sense that when people have their own budgets and ownership for their profits, they''ll continue to operate that way.". Cutting costs Humanresources Organizational culture'
Like it or not, most of us think about career success in terms of moving up the hierarchy. Look," he said, "I currently have 10,000 people reporting to me and responsibility for the largest P&L in the company. The head of HumanResources even asked the CEO whether Bill's job-grade and performance bonus should be reduced.
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