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How to Win in the Relationship Economy

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Jon Bartos' presentation from the Fordyce Forum 2008

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Page 1: How to Win in the Relationship Economy
Page 2: How to Win in the Relationship Economy

• Difficult to get people on the phone

• Candidates taking control of hiring processesCandidates taking control of hiring processes

• Candidates have multiple opportunities

• Offers getting turned down• Offers getting turned down

• Candidates accepting counter offers

• Employers doing everything to keep• Employers doing everything to keep good employees

• Becoming more difficult to• Becoming more difficult to influence decisions

Page 3: How to Win in the Relationship Economy

• Baby Boomers retiring(5‐10 million more jobs than people)( j p p )

• Multigenerational mix in the workforce

• Employment tenureEmployment tenure

• Unemployment (4.6% ‐ 5.1%)

• The Emergence of the Relationship economyThe Emergence of the Relationship economy

Page 4: How to Win in the Relationship Economy

Definition: “Economy created by the convergence of technology y y g gy

and the use of it that accelerates the power of relationships and facilitates dynamic communications

from peer to peer and to entire groups”– from peer to peer and to entire groups”

• Good for those in the networkGood for those in the network• Not good for those not

within network• Birth of social networking

Page 5: How to Win in the Relationship Economy

In this Economy:

“ Y l i hi ill b ill b“ Your relationships will be will be your net worth.”

“Your ability to influence decisions based on your relationship will be imperative to your success ”imperative to your success.

• TrustTrust• Influence

Page 6: How to Win in the Relationship Economy
Page 7: How to Win in the Relationship Economy

Understanding how to deal with different generations:

Page 8: How to Win in the Relationship Economy

• View of Work

• Loyalty

• Messages that Motivateessages a o a e

• Feedback and Rewards

• Work/Life Balance

• Communication MethodsCommunication Methods

Page 9: How to Win in the Relationship Economy

• Baby Boomers• What impact they will have on their team• The Vision of the company and how they will participate• Their word is still important to them• Respect their experience and accomplishments

• X Generation• What’s in it for them?• What s in it for them?• How the position can help their next step in their career• Training and Development they will receive• Work Life Balance

Y G i Mill i l• Y Generation or Millennial• How the job will keep them engaged• The work environment• The culture of the organizationg• Coach/Mentor relationships work• Watch out for Squatters• Life is Work and Work is Life• Use technology to your advantagegy y g• Power of Teams

Page 10: How to Win in the Relationship Economy

• Communication Priorities Today• Instant Message (IM)Instant Message (IM)

• Text message on cell

• Voicemail on cell phone

• Email

• Voice mail on land line

Page 11: How to Win in the Relationship Economy

• Explain roles and Set expectations up front

• Take “A” players to the market get exclusivityTake A players to the market, get exclusivity

• Find all available opportunities for “A” talentA talent

• Join only the social network media that you will use and focus on

• Relationship Marketing: Touch your candidate pool monthlyy

• Develop long‐term relationships – “Trusted Advisors”

• Platinum Rule not Golden Rule

Page 12: How to Win in the Relationship Economy

“It is not the strongest of the species that survive,It is not the strongest of the species that survive, nor the most intelligent, but the one most

responsive to change.”

‐ Charles Darwin

Page 13: How to Win in the Relationship Economy

Understand the importance of RelationshipsUnderstand the GenerationsUnderstand the Generations Build “trusted advisor” relationships

“Success in the

R l i hiRelationship Economy!”Economy!

Page 14: How to Win in the Relationship Economy

Jon BartosJon [email protected] 701 5910513.701.5910Jonathan Scott International, LLC5700 Gateway Blvd Suite 4005700 Gateway Blvd. Suite 400Mason, OH 45040www jonathanscott comwww.jonathanscott.com