It’s the post-new economy era. So what does that mean for today’s job seekers and professionals looking for the next golden ring? It means, once again, the rules of engagement in the workplace have changed, and we’re here to sound the alarm for all who think hard work is enough. It’s not. Longevity? Nope. Loyalty? Not quite.
Worker productivity has indeed jumped 9.4% in the third quarter, signaling what some analysts are calling the beginning of a “self-sustaining economic expansion.” But whether an assistant or a director, employees today must strategically align their professional goals with those of their company in order to take their careers to the next level.
To get you there, BLACK ENTERPRISE talked with four executives at thriving companies. The upshot? Diversity, partnering with employees, globalization, and personalized marketing will help you get the keys to the kingdom. But before you revamp your résumé, read on to learn what these progressive companies expect you to bring to the party. Because just as companies now know that it’s not just about selling their products, employees are learning that it takes more than the “right” credentials to beat out the competition.
Contrary to popular belief, diversity is not the same as affirmative action. Minorities cannot rely on race alone to propel their careers. “When it comes time for movement [up the corporate ladder], it has to be about finding people who can contribute value versus finding people that [the corporations] are comfortable with,” says Robert Morris, founder, president, and CEO of The Center for Diversity Assessment, Analysis & Audits in New York City.
At the same time, however, shades of brown are fast becoming the new landscape of America, both in the workplace and the consumer marketplace. A 2003 study published by the University of Georgia projects that by 2008 the combined buying power of African Americans, Asians, and Native Americans will exceed $1.5 trillion. This represents a 231% gain since 1990. And minority buying power is growing at a much faster rate. In 2003, whites saw a 14% increase in buying power, while minorities saw an increase of 22%.
“People who believe diversity is dead don’t understand the power of diversity as it relates to profits and measurable gains,” says Donna DeBerry, senior vice president of diversity and assistant to the chairman of Wyndham International in Dallas. Wyndham learned that hard-won lesson three years ago after the NAACP gave the company a D rating, saying it wouldn’t encourage blacks to stay at the company’s hotels as it didn’t believe the chain supported the African American marketplace. That boycott resulted in a financial loss for the company, which hired DeBerry to forge new partnerships with diverse organizations like the NAACP; the National Council of La Raza, a nonprofit organization established to improve life opportunities for Hispanic Americans; and the National Minority Supplier Development Council.
“Before 2000, the percentage of our business with minority and women-owned businesses was 1%—today it’s 22%,” says DeBerry, who defines diversity as all of the similarities and differences among individuals such as age, gender, race, language, physical abilities, and learning styles. Today, in the employment ranks, African Americans make up 21.49% at Wyndham; black executives represent 4.41%, and black officials and managers total 11.4%.
“Diversity is not going to be a choice,” DeBerry says. “With the changing demographic, many companies won’t be able to sustain themselves if they don’t reach out to untapped markets.” So how can you get in on the new drive for diversity? First, do your homework. At the onset, the company should reflect your goals and attitudes about how business is done. For example, “If you’re looking for a company with progressive diversity initiatives, you need to know that the initiative is coming from the top,” DeBerry says.
To begin, review the CEO’s diversity messages, the company’s Website, and statistics showing the number of African Americans in key positions such as director, vice president, or group manager. Also, look at the makeup of the board of directors and investigate whether any support organizations of color exist. This will indicate the level of dedication a company really has to its diversity initiatives. Of the 18 board members at Wyndham, one is black and two people are of color.
Knowing this information will empower you to make informed decisions about your next career opportunity.
DIVERSITY
Gone are the days when workers are treated like unruly children to be kept in line. In an economy where companies are wringing the last bits of energy out of overstretched employees, every member of the corporate team must pull more than his or her weight. That’s especially true for managers. But even under the burden and pressures of workload, managers are still charged with effectively communicating the company’s goals and objectives to members of the front line.
Chris Womack, senior vice president of generation at Southern Company, an electric utilities corporation in Atlanta, understands that importance, noting that miscommunication can lead to high employee turnover, which directly affects the bottom line. “The costs of high employee turnover are intangible,” says Womack, “but they can range from $50,000 to $70,000, depending on the person.”
That’s why management-employee relations are crucial to a company’s success. In the past couple of years, Southern Co. has beefed up its communication signals by using group e-mail, newsletters, and online meetings. In fact, “we require our managers to have ongoing face-to-face interaction with the front line,” says Womack, 45, underscoring the company’s open-door policy.
This makes
good business sense. Not only do employees need to know an employer’s expectations but they should also have a good sense of the company’s growth initiatives, strategic opportunities, and new revenue-generating streams. Never mistake the importance of such information. It’ll give an overall picture of how the company is doing and show you what you need to do to effectively sell the company to clients and customers, says Womack.One of the best ways to get the skinny on a company is to network with colleagues and decision makers. Ask about their goals in the company and the performance measures of the company. “It’s all about being open and honest with employees,” Womack says. “Honesty fosters a positive work relationship and makes people want to actually work [harder] for a company,” particularly in public companies, which must disclose this information.
“Companies are really looking for leaders,” Womack says. He explains that in today’s corporations the expectation is different from what they would expect from a traditional manager. “A manager is more methodical in what he or she does; a leader is more motivational.”
For those fresh out of business school or even undergraduate programs, start reading books on leadership such as Stephen R. Covey’s The 7 Habits of Highly Effective People (Simon & Schuster; $15) and Built to Last: Successful Habits of Visionary Companies (HarperCollins; $17.95) by James C. Collins and Jerry I. Porras.
Also identify mentors to help your personal and professional development. Look for people who are in the position, department, or area you desire. The idea is to link with individuals in the organization who have an excellent leadership track record with the company. As they grow within the organization, mentors often present opportunities to their protégés. Also, look for leadership opportunities outside of your organization in professional groups and charitable organizations.
EMPLOYEE RELATIONS
Robert Dixon, vic
e president of information technology at Procter & Gamble, in Cincinnati, and the newest member of its Global Leadership Council, credits his success to the first global assignment he accepted in Brussels, Belgium, 10 years ago. Despite initial reservations, Dixon and his wife and two children count their three-year assignment as a highlight. “Once we got to Brussels, the world just opened up,” says the 46-year-old. “I found that African Americans do extremely well in overseas assignments, mostly because we’re open to other cultures.”
The assignment also helped him develop new business relationships in Europe. “I advanced the careers of several Europeans who worked for me,” says Dixon. “Several took international assignments in other countries, including the U.S. Your network expands when you advance someone’s career.”
Ten years ago, there were only a handful of overseas assignments at Procter & Gamble. Today, it sells its products in more than 160 countries. As a result, the company expects its senior executives to have two to five years of international experience.
“African American executives generally have wonderful overseas assignments,” says Dixon. “They experience fewer racial barriers, more socialization and integration with other expatriates, and experience more of the local culture.” Living in another country is a life-changing experience. Dixon says you can make the transition smoother by having a plan.
Here are a few considerations:
Finding a home in your new country. Most expats rent instead of buying. Invest a fair amount of time finding a landlord with a good track record with foreigners. The local expat community should be an excellent source of information.
Lifestyle. Things you take for granted can be a challenge overseas, like finding a good hairstylist and a church. Look for other African Americans from the states in the embassy, military, or American women’s and men’s clubs.
Family. As an executive overseas, you’ll have built-in support and a familiar culture in the work environment. However, your family has to develop its own network in the new country. They also have more downtime in the beginning because those social connections are still blossoming, so be prepared to provide emotional support for your family.
Is there an overseas assignment in your future? To be selected, you must possess a strong performance track record, a great reputation, and be culturally sophisticated. “Although English is the international business language, when you know a language like French or Spanish, the door of receptivity just opens up,” says Dixon. “Also, in certain relationships with customers or consumers, they only speak the local language. Reach out and let them know you’d like to establish relationships with people from other countries when they visit your headquarters,” he says. To get a better feel for the country and its surroundings, get to know the locals.
Getting a global assignment should start as early as business school. Dixon says college and business students should study abroad and master a foreign language. “Be really clear about your aspirations and the series of assignments you need to achieve to get to your goals.”
GLOBALIZATION
Successful companies understand their target demographic. Take the New York Knicks, for example. Although the team isn’t No. 1 in the NBA, it has a fan base that is loyal—and growing. The Knicks franchise has one of the highest renewal rates for subscription tickets in the league. How do they keep fans coming back, particularly in the New York post-9-11 economy?
Anucha Browne Sanders, the Knicks senior vice president of marketing and business operations, attributes the team’s success to a number of factors. “We have a series of retention programs,” she says. “We know our tickets have a high price
point, so we offer our customers a number of incentives. “Season ticket holders have access to discount parking, forums where subscribers meet and greet team executives, and are treated to spectacular halftime shows. In addition to the Knicks City Dancers, subscribers enjoy performances by the Knicks City Kids and the Knicks Double Dutch and Streetball teams. Last year, the franchise established a special halftime talent search program. In the past, performers such as Kool & The Gang and Gloria Gaynor have headlined ’70s night.Browne Sanders says the team’s location has also helped the franchise leverage new customers. The Knicks is one of the only teams that play in the center of a major city—and Madison Square Garden is located right on top of one of New York City’s major transportation hubs. Last August, the franchise’s ads dominated most of the advertising space in Pennsylvania Station.
Why the sudden pitch to the commuter crowd? “We have more [lower-priced] tickets available now than in the past,” admits Browne Sanders, who notes that their high-end subscription base, which includes celebrities and the city’s powerbrokers, remains strong.
In a case of smart marketing, the team is branding the lower-priced section of the arena as festive and fun. “The decrease in lower-priced subscription sales has given us an opportunity to attract more fans,” she says. “We want to create the sense that these folks are special.
The Knicks also recognize the importance of diversity to a city like New York by advertising to communities that would respond to visiting players like Yao Ming and Dirk Nowitzki. “New York is an international city and we know that these players will attract new customers,” says Browne Sanders. The push to keep the Knicks brand strong is always foremost in the franchise’s mind. “We get a read in terms of brand image by doing research,” she says. “Many of our season subscribers manage their subscriptions online, and this gives us an opportunity to ask them how we’re doing. We also do focus groups, telephone surveys, and keep tabs on how our merchandise is selling in the marketplace by looking at the attendance numbers.
If you think of your company as a client, you can incorporate this type of strategy into your career goals. What are you doing to keep yourself relevant, up-to-date, a commodity that is in demand? As Browne Sanders says, we have to create something more than the ticket itself—there has to be some meat under it. As a corporate player in an evolving workplace, you have to do more than look good and talk smart; you have to implement corporate-wide initiatives, take on high-level assignments, and be known as the go-to person in a pinch.