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Australia's ranking on the Gender Gap Index

As the world’s sixth largest country, Australia is well known for a strong economy, great holiday destinations, laidback lifestyles and some of the world’s most livable cities, including Melbourne ranking at number 1 on the Economist Intelligence Unit global “liveability” study and Adelaide's recent ranking in Lonely Planet's top 10 cities to visit in 2014.

However, when the topic centres on gender equality, Australia ranks 24th out of 110 countries according to the Global Gender Gap Report 2013. In sequential order, starting at number one, the top ten spots were taken this year by Iceland, Finland, Norway, Sweden, The Phillipines, Ireland, New Zealand, Denmark, Switzerland and Nicaragua.

Over the last four years, 95 countries have improved their performance and unfortunately Australia sits among the remaining 15 that have widened the gap, ranking four spots below its position at number 20 in 2009.

This being said, when it comes to investments made in women’s education, Australia is among the top ranking countries and the results of this is visible in women’s economic and political participation. Improving slightly on the Economic Participation and Opportunity sub-index, Australia gained one position from the previous year (rank 25 in 2012).

Ranking 69th for health and survival and 43rd for political empowerment contributes to the lower ranking position on the country on the index. Health and survival is determined by the sex ratio at birth and the life expectancy of females vs. males; while political empowerment is measured by the ratio of females to males with seats in parliament as well as in ministerial roles, and the number of years females have been head of state during the past 50 years.

Closing economic and participation gaps will be the next step for Australia, if we plan to rank in the top 20. In particular, gaps in senior positions, wages and leadership levels will need to be shortened as this will, in addition to moving Australia higher up on the index, have a large boosting effect on the economy and GDP.

A booming economy is strongly linked to a country’s innovation capabilities, and in order for Australia to continue to be innovative we need to encourage a diverse environment. Evidence suggests that companies that successfully integrate the female half of the available talent pool across their internal leadership structure benefit through more informed decisions and engagement in less risky behaviour.

Put simply, gender-equal teams are more successful and business leaders as well as policy makers must put in place practices that provide equal opportunities for women rising to leadership positions internally. Only then can we move toward a more gender diverse nation.

Warm wishes, Donny

How To Effectively Battle Work Guilt

High productivity is the demand of the working world today.

We feel this constant need to always be achieving results and keeping up with what is expected of our roles. But often we find ourselves being driven not by the power to be productive but by the guilt that comes with not meeting our expectations as well as others' expectations of us.

We’ve all been there, doing task after task long after working hours are over, only to feel that we haven’t been productive or done enough. We’ve waited for our managers to leave before we do, in the effort to not look like we’re ‘slacking off’. This form of guilt, commonly known as work guilt, can often be quite damaging and lead to a phenomenon called ‘obsessive-compulsive productivity’ creating a vicious cycle that you can’t seem to escape.

So how do we learn to break this cycle?

The first step is to start noticing when work guilt rears its ugly head. Start a log identifying all the triggers and your responses to them, and you will start to eliminate the reactive behaviour you have toward work guilt.

The next is to use a couple of techniques to eliminate the guilt and keep you in good standing with yourself, colleagues and employers.

1. State your goals clearly. Productivity is important, but there is only so much you can fit into an 8-hour day. Determine how much time you need to spend on tasks and be up front with your employer about overtime before starting a job. If you’re not willing to work late on certain days, be clear and give advanced notice so that your employer has knowledge of it to make the necessary changes.

2. Use your time more effectively. If you spend the entire day emailing and chatting with co-workers, you’re going to feel guilty that you didn’t get any work done. Cut down any time you’re wasting and focus on getting as much work done as you can in regular working hours. Tracking your time on tasks can help pinpoint time wasters and improve your productivity, as well as provide a written account of what you have accomplished, counteracting any guilt you might feel at the end of the day.

3. Working day in and day out is not good for even the brightest workers. It’s important to take time out. Put in a holiday leave request well ahead of time, work out project handovers and cover your bases, alert clients as to when you’ll be away from the office and don’t feel guilty when the time comes to take that well deserved break. It will give your mind some rest, eliminate stress and you will return to the workplace in a much healthier frame of mind, ready to tackle new projects efficiently.

4. Learn to say ‘No’. We often feel that by refusing to take work on we’re letting employers down. However, when you have enough on your plate and need to say ‘no’ for the right reasons, don’t hesitate. You’re more likely to let an employer down by taking on a project that you don’t have time for and won’t be able to deliver in the timely and quality manner you are known for.

Work guilt is certainly something you can have control over and it all starts with acknowledging the issues. Use the tips above to help you and remember that you’re at your best when your stress levels are manageable and productivity comes from a place of motivation and happiness, not guilt or fear.

Warm wishes, Donny

Digital and Social Media

As a Business Executive, you can’t afford to ignore social media. Studies show that 2 billion consumers use social media and this number is expected to grow to 2.55 billion by 2017. Thinking at an executive level, social media must be incorporated as one of your company’s business strategies. It’s how your clients, customers and employees want to interact with your business.

This is the time for you to pull yourself away from the 70% of Fortune 500 CEOs that are not yet using social media. Recognize how Richard Branson (Founder and Chairman of Virgin), James Caan (CEO and Founder of Hamilton Bradshaw), and Doug Conant (Chairman of the Avon board of directors) made and maintained their own global presence. They share updates ranging from business to their personal lives and followers get to join them on a journey, all the while being exposed to the brand and its products and services. These executives stay active, follow their followers back and never forget to thank people who retweet them.

Look at social media as a way of “listening” to your clients and customers. Obviously, fans, followers and even “haters” are noisy when it comes to tweeting their likes and dislikes. Making sense of this noise is a great way of interpreting their minds and analyzing how your products and services can get into their evoked set of brands. Minimize the use of business lingo in your blogs and posts; it helps make them a bit more approachable.

Business executives can also use social media as a leadership tool to educate internal and external stakeholders, clients and customers. There are lots of webinars that are easily accessible on the cloud which can help create and promote your brand. Following competitor companies, finding the latest technology in line with your business and examining which strategy will be most effective for your company is paramount. You need to pick your channels and not try to be all things to all people. Facebook may not be relevant for your clients and customers but LinkedIn and Twitter may be very compatible.

As a business executive, you should aim to be a “digirati,” or what they call a digitally mature business. A digirati can make strategic decisions on where to excel in the digital space. This results in technology-enabled initiatives that improve engagement with customers and even transform business models. They continue to maintain leadership elements: vision, governance, the IT-business relationship and engagement with internal stakeholders. A joint study conducted by Capgemini and MIT Sloan showed that digirati are 26% more profitable, and also generate 12% higher market value ratios than their less mature digital counterparts.

So, what do you think? When it comes to digital and social media, are you in or out and do you have what it takes to be a digirati?

Warm wishes, Donny

Succession Planning: The Good and the Bad

To most, succession planning is not an important consideration for their business. Some even believe that it is only for family-owned companies. This however, is not the case.

Succession planning should be considered as vital as the company’s biggest goal. It provides a strong basis in terms of deciding who will be the next leader of a company in case of a sudden loss or unexpected retirement of the current leader. No matter how immortal the current business status of a company, succession planning can be used to determine whether the company has a potential key leader already developed who needs continued development and to be nurtured for the future.

Much like any other corporate activity, succession planning has a number of advantages and disadvantages. More often than not, these are practical things one should consider.

On the positive side, succession planning provides a continuous supply of strong and skillful leaders to a company. It is an opportunity to retain these successors and make them feel that they are essential for the growth of the company.

One way of developing a succession plan is to assess the qualifications of current employees – what do they already have, what do they lack and how you think you can help them develop and grow. Then compile a list of future talents that you think you might need for your future employees. This is actually an extension of talent management; something that business analysts believe has a very big impact on a company’s returns.

Also, bear in mind that regular employees who are assigned to do the day-to-day tasks keep the business going. It is important to include them in your plans. Succession planning is not only for executives or senior managers.

During succession planning, there is also an opportunity to conduct a SWOT Analysis. It will enable you to see the company’s needs now and in the years to come and align with your strategic direction. Once weaknesses and threats are clear, it becomes easier to deliberate how they should be faced and resolved.

There also can be a risk that during succession planning, an unworthy person might be appointed for a key role. Risk also increases if planning is held too early. A better candidate might be available after the decisions of succession planning have already been made.

Succession planning performed poorly has worse consequences for a company than if not done at all. Plans should be made only when the business is mature enough. Poor succession planning will produce poor decisions, which will lead to a weaker business model that is not prepared for the long-term.

A perfect example of a good succession plan is what happened at Apple. Its iconic CEO Steve Jobs practiced a proactive succession plan. While he was battling pancreatic cancer, he reduced the chances of a power struggle and publicly backed his successor, Tim Cook. If a successor had not been chosen, it is unlikely that Apple’s core business would have been able to maintain its momentum two years on since the passing of Jobs.

Warm wishes, Donny

Understanding People Is A Key Factor In Transition Management

Change or getting out of one’s “comfort zone” can really frighten employees in an organisation and yet the pace of innovation demands that organisations keep ahead of or at least keep pace with change to ensure sustainability, competitiveness and remain relevant to their customers and clients. A great strategy that could establish a business on a projectory path of success could still fail if it is not implemented well using appropriate methodologies of Transition Management.

What does this mean? Well, the starting point is to understand people. Sounds easy? Maybe, maybe not. A lot of leaders and managers struggle to understand the human factors when it comes to our attitudes at work. We have a tendency to assume that everyone has the same values as we do and that we are all one way or another driven to behave by the same reasons. Plans, outcomes or implementing a change can all go awry if employees do not have ownership by being included in the planning stages or believe in either the idea or the plan.

It is not due to malicious behavior to jeopardise the implementation of a change, it is how people naturally behave when it comes to change. One of the greatest books that simply highlights this behavior is called, “Who Moved My Cheese?” by Spencer Johnson.

The combination of a strategic plan with business logic and employees with emotional factors and buy in are a typical marriage forged into a transition management model. As long as the implementers of a strategic change understand this marriage, the likelihood of success increases.

To understand this concept better, try applying it on a personal level. Managing change can be tough and while we all subconsciously manage transition in our daily lives (a new home, career, partner, computer, even a new route to work) we may involuntarily resist any form of change that we do not understand or cannot see any form of benefit. Our minds are often set to perceive the current situation as the best we can achieve which can limit ideas and possibilities for improvement. We create a paradox where the result is using the transitional management skills we learnt in life to maintain the status quo.

Transition management should never be looked down upon. It should be used in cooperation of our subconscious to our conscious. As leaders of change, we must understand that people fear change however, understanding the fears that employees have can be used to enhance our focus and appreciate the resistance and convert it into motivation so that we all CAN rise to the occasion to accept and implement change.

Warm wishes Donny

Mastering Your Thoughts

Mastering your thoughts can be a challenge to say the least. People often forget or don’t know how powerful one’s mind can be and in turn how destructive it can be without applying control.

Your mind, specifically your thoughts, affects your perception and therefore, your interpretation of reality.

Put simply, it pays to be the master of thoughts. To be the master of your thoughts can dramatically transform your life. To change this, your way of thinking can change nearly every other aspect of your life. From destructive to constructive, illogical to logical, being misinterpreted to being understood and from frustrated to being fulfilled.

A remarkable book on time management (Getting Things Done by David Allen) covers what many people do not recognise, ie there is no point of thinking of something over and over again. There is no point of worrying about something, as it is a thought that does not evolve, it can create a compounding amount of fear and stress and can turn into an endless loop.

It is those kinds of thoughts; the illogical, destructive and obstructive that we need to dispel in order to focus our energy on our work, our loved ones and ourselves so we can be in control of our own life.

“Think of your head as an unsafe neighbourhood, don’t go there alone.” – Augusten Burroughs, Dry

Thought mastering has been sought for several millennia. Buddhism teaches thought mastering through meditation, to control breathing, to be tranquil and to be insightful so you may have a peace of mind while exploring the avenues of your mind. Though Buddhists have been teaching it for over 2500 years, it has yet to be mainstreamed into modern curriculum and unfortunately leaves most people without a coping mechanism when dealing with stress, frustration and being unable to focus.

Being able to recognise the thoughts that accumulate when we are unfocused, frustrated and stressed is the first step to mastering our thoughts. Then to practise, either intersect and exchange negative thoughts with focused positive thoughts or to directly end the negative chain of thoughts with breathing techniques and ‘an empty mind’ are the foundations to mastering your thoughts.

If we can manage to be the master of our thoughts, our potential is limitless. Knowing the methodology of mind over matter, we begin to understand that success is psychological and learn to interrupt and stop any thoughts of worry. This will alleviate our former selves and build our latter selves to become masters of our thoughts.

Warm wishes Donny