My notes following Prof. Markides lecture at the London Business School
I though I'd drop you a quick note as I've just attended another of these fantastic lecture from prof. Costas Markides at the LBS this evening. Here are my notes :
The new generation expects to change jobs many times : As a leader, the question is not any more "how can I attract the best talent”, but “how can I keep its motivation high" -> for this you need to make your company "special" so your people stay even if a competitor offer them a better salary (e.g. via culture, sense of purpose, non financial incentives,..).
Work patterns analysis are showing we are growingly “Decentralised Workaholics” , we tend to work all the time, from any place, we are more open to the external ecosystem -> for this, leaders need new control mechanism = values based via "emotional commitment", not rules based. It’s a full time job with CEO impersonating the values and systematically behaving accordingly
Customers are more informed, less loyal. Traditional branding/marketing doesn’t work, you need viral/word of mouth bottom up and for this, Product and Customer Experience are kings. Customer centric behavior has to be institutionalized in company culture. Continuous innovation is the only sustainable competitive advantage (He used his famous study about children vs adult creativity - ping me if you don't know the anecdote, it's a powerfu onel)
“Change” only happen when the need for it is conveyed emotionally, not rationally: e.g. studies show 90% of people who had major heart surgery come back to behavior that got them in trouble 6 months after surgery (eg smoking, alcohol, lack of exercise). Mentioned a couple of technics to make this happen (mostly about visualization of both positive and negative outcomes)
And we then discussed a few case studies, from pure player like Zappos (1.2B$ trade sell to Amazon because of “employee value”) to interesting incumbents like Roche, Nestle
That's all folks, onwards now! F.