From the small screen to the cinema, horrible bosses have been under a harsh spotlight recently, often for their lack of being able to provide proper feedback to employees.
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One survey released this month found that nearly half - 46 per cent - of employees say they have worked for an unreasonable manager. While many workers stayed in their job and dealt with the issue, 27 per cent quit once they had something else lined up, according to OfficeTeam, a staffing agency in the US that developed the survey.
But it isn't just bad bosses that make missteps when leading their employees in an organisation. Even nice managers make mistakes, sometimes due to their fear of giving critical feedback.
Some employees tend to drone on during office meetings, for instance. Yet if a manager doesn't provide feedback then workers can't become aware of their weaknesses and they'll continue droning on, losing their audience and the impact of their message.
Giving people feedback is an act of trust and confidence, according to Peter Bregman, a strategic adviser to chief executives and their leadership teams. It shows that managers believe in an employee's ability to change and that they will use the information to become better. It also shows faith in someone's potential, and a sign of commitment to the team and to the larger purpose and goals of the organisation.
Mr Bregman recently shared some tips with the Harvard Business Review on how to ensure feedback is compassionate and not just critical:
Ask permission
Start by asking: "Can I give you some feedback?" This evens out the power dynamic, makes it easier for a manager to speak and prepares the other person to accept the feedback more openly.
That doesn't mean that accepting criticism will be easy. But even though it may be difficult, letting someone know what everyone else already knows is the opposite of aggressive. Aggressive is not giving people feedback and then talking about them and their issues when they aren't around. Aggressive is watching them fail and not helping.
Ironically, when managers avoid sharing feedback, it usually comes out at some point anyway, as gossip or in a burst of anger or sarcasm or blame directed at the person. And that's aggressive. Passive-aggressive. To avoid that kind of ugliness, it's critical not to delay.
Don't hedge
When people are uncomfortable criticising, they try to reduce the impact by reducing the criticism. Sometimes they sandwich the criticism between two compliments. But hedging dilutes and confuses the message. Instead, be clear, be concise, use a simple example, make it about the behaviour, not the person, and don't be afraid of silence.
Even skilled managers loathe giving critical feedback, but they should keep in mind that telling someone they talk too much or they appear insincere is not mean - it's helpful. Some topic areas may feel aggressive or confrontational, such as telling someone they dress poorly, appear insincere or walk all over others. But Mr Bregman argues that, without question, all employees - executives included - should weigh in, as long as what they say comes from caring or supporting the other person, and not from sympathy or malice.
Do it often
Managers should tell people what they think that's both positive and negative. That's how companies create a culture in which people are open and honest for each other's benefit. If management offers feedback only once in a while, it feels out of character and more negative.
Of course, not all feedback needs to be critical. Positive feedback is excellent at reinforcing people's productive behaviour, encouraging them to use their strengths more effectively and abundantly. Offer it frequently. Just do so at a different time than when critical feedback is shared.
* with Reuters
nparmar@thenational.ae
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Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Expert advice
“Join in with a group like Cycle Safe Dubai or TrainYAS, where you’ll meet like-minded people and always have support on hand.”
Stewart Howison, co-founder of Cycle Safe Dubai and owner of Revolution Cycles
“When you sweat a lot, you lose a lot of salt and other electrolytes from your body. If your electrolytes drop enough, you will be at risk of cramping. To prevent salt deficiency, simply add an electrolyte mix to your water.”
Cornelia Gloor, head of RAK Hospital’s Rehabilitation and Physiotherapy Centre
“Don’t make the mistake of thinking you can ride as fast or as far during the summer as you do in cooler weather. The heat will make you expend more energy to maintain a speed that might normally be comfortable, so pace yourself when riding during the hotter parts of the day.”
Chandrashekar Nandi, physiotherapist at Burjeel Hospital in Dubai
