My TED Talk: Leading in the Digital Era

CharleneLi_TED

I crossed an item off my bucket list when I gave a TED Talk at TED@IBM on Sept. 23rd. The event was part of the new TED Institute, which partners with companies to create TED-curated events.

The title of my talk was “Giving Up Control: Leading in the Digital Era”. One key data point from Gallup that continues to astound me is that worldwide only 13% of people are engaged in their work. It’s higher in the US, standing at 30% but that’s still terrible!

I believe that a big reason for this is that we don’t give enough autonomy to, and respect the growing agency of our employees, especially for the Millennials who crave purpose and meaning in their work. The hierarchies that exist in our organizations were designed for a bygone era where efficiency and scale were paramount. But today, speed, innovation, and creativity are the sources of competitive advantage.

Companies have been responding, deploying collaboration platforms and enterprise social networks to connect people throughout the organization. Shrinking the distance between previously siloed departments, or between executives and the front lines sounds great — unless you’re a middle manager.

The biggest problem leaders face in the digital era is that power and influence are being decoupled from titles and organizational structure. So how can you be an effective leader? Here are the three things that organizations can do:

  1. Create a Culture of Sharing. Instead of hoarding information to be powerful, leaders have to become facilitators who accelerate the sharing of information across a networked organization.
  2. Encourage the Practice of “Followership”. The size and quality of your network, not your title, determines how much power and influence you have, and thus, how much you can get done. If employees could build their “followership” across the organization and even outside the organization, then even if their titles or jobs changed, they could still be highly effective. This creates tremendous security that allows these managers to make tough decisions that might otherwise jeopardize their livelihood.
  3. Ensure Networks are being used to Make Meaningful Decisions. People are smart — they won’t devote time to engaging unless they know it’s going to make a difference. The biggest mistake I’ve seen organizations do when trying to transition into the digital era is to use these new tools to create the equivalent of a digital water cooler — talking rather than getting work done. No wonder they don’t last! Get leaders to pay attention, make key decisions on these networks and people will come.

What each of these has in common is the need to give up control. In the talk, I shared the journey I’m going through as the parent of teenagers, as they push for greater autonomy and trust to make their own decisions. In our work, if we truly want to have an engaged workforce, then we’re going to have to lead differently, and establish a new kind of relationship and trust that’s created and deepened with these digital tools.

I’ve embedded the slides and script of my talk below. In a few weeks, the video of my talk will be available and I’ll embed that here as well. I hope you find these materials helpful in your journey to become a leader in the digital era.

How to Tell If You’re Just Dabbling with Digital

Digital transformation is hot — in a new Altimeter Report, “The State of Digital Transformation”, we found that 88% of organizations we surveyed said that they were undergoing a formal digital transformation effort, which Altimeter defines as “the re-alignment of, or new investment in, technology and business models to more effectively engage digital consumers at every touchpoint in the customer experience lifecycle.”

But the research found that only 25% had mapped their out the customer journey, while another 12% were in the process of a mapping effort and were awaiting results. What was striking was that 42% of respondents said that while they were not officially researching the digital customer journey they had made efforts to update those digital touch points with new social and mobile investments and initiatives. [Read more...]

Help with My New Report: Employee Engagement & Advocacy

Businessman holding paperI’m passionate about Open Leadership, and the imperative to be open, authentic and transparent in the way we lead. This is all the more important when looking at how to engage employees, and tapping them for the bright shiny object de jour “employee advocacy”.

To that end, my colleague Jon Cifuentes and I are working on a new Altimeter report on how companies create holistic strategies that increase internal employee engagement and external employee advocacy. The report looks at the fundamental disconnect between organizations wanting active and engaged employees and the actual execution of employee collaboration, engagement, and advocacy efforts. [Read more...]

The Twitter IPO: Some Initial Analysis

Twitter just tweeted that it has filed a confidential S-1, with the appropriate disclaimer. Here are a few reasons why this filing and IPO warrant close scrutiny.

  • Twitter is the last of the Big Four to go public. In the social networking ecosystem, Twitter is seen as a must have in terms of a social strategy, and is the only major player left that is still up for grabs — YouTube (owned by Google), LinkedIn (IPO), and Facebook (IPO) are all spoken for. Other upstarts like Pinterest are just getting started so Twitter is going to be the talk of the town into 2014, which is the earliest the IPO can be expected. There will be a certain “last call” mentality to the Twitter IPO that wasn’t there for Facebook.
  • Confidential filing gives Twitter control. Twitter took advantage of the JOBS Act pass last year, which allows firms with less than $1 billion in revenue to file an S-1 confidentially. This means that unlike Facebook, Twitter won’t be subjected to a microscopic dissection of every word of its filing. This is a good thing, because Twitter’s business model isn’t the easiest to explain. As Twitter begins the roadshow, they’ll be able to roll out their story to investors in a systematic, orderly way that enables them to tell their growth story to the world.
  • Timing and Friends benefit Twitter. Twitter should be saying a big “Thank You” to Facebook for carving out the path before them. Facebook has spent the past year educating the market about social media advertising, doing much of the heavy lifting and laying out the red carpet for Twitter.
  • Challenge: Twitter’s Advertising Model. The biggest challenge that Twitter has is that its main form of revenue comes from “sponsored tweets” which is a form of native advertising (see Altimeter’s just-published report on Native Advertising). The problem with these sponsored tweets is that they are not, at present, a standard ad format that can travel outside the Twitter platform. That makes ad buying — and scaling to media buyers — more difficult.
  • Discipline to Stick to the Business. The tweet that Twitter posted one minute after the “filing” one shows everyone at the computers with the next, Now, back to work.” The company has been preparing for this day, and realize that it’s a long, long slog for the next approximately six months before the actual IPO. The team will need discipline to focus on the work, rather than pulling out spreadsheets to calculate their potential net worth. Not an easy thing to do!

These are still early days, and I anticipate that we’ll learn a lot more about Twitter’s business over the next few weeks and months. I, for one, am eager to not just see the numbers, but also to hear their story. Because as one of the four foundational platforms of the social space, they have the ability to shape the future as they envision it unfolding. And the vision that Twitter CEO Dick Costello and his team roll out is sure to be interesting.

New Book: The Seven Success Factors of Social Business Strategy

I’m very proud to announce the publication of an eBook that I co-authored with Brian Solis, entitled “The Seven Success Factors of Social Business Strategy“.

Based on research as well as real-world experience with our clients, Brian and I found that there are common characteristics of successful social business strategies, the most important one being a laser focus on achieving business goals. In fact, the most successful businesses are those with an executive who can articulate the vision and strategy roadmap almost as well as the social strategist. [Read more...]