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May 2009
Dear subscriber,

I write this E-News after joining Twitter. Twitter, a free social messaging utility for staying connected has been a good experience. Check me out at twitter.com/drpalan. I read the article "they know there's no success like failure’ in Fortune magazine. It made great sense considering the current economic scenario and changing human capital landscapes, the theme for Asia HRD Congress 2009.

Let us cover in this E-News:
The article - They know there is no success like failure
Managing B players
Asia HRD Congress 2009
They know there is no success like failure
The saying adversity makes you stronger holds true for many but how do you actually rebound towards success. This article covered six key areas:
  1. Keep taking risks
    David Neeleman founded Morris Air, sold it to Southwest Airlines and got fired. Still he went on to create JetBlue, a success story. He says, it's not what happens to you, it's how you deal with it and what you make of it.
  1. Don't let the doubters get you down
    Ted Turner started CNN despite all the doubters. Two decades later, he was on SUCCESS magazine and defined the global standard for round the clock news.
  1. Seek a purpose
    The ability to impact with purpose has been the defining path for Oprah Winfrey.
  1. Visualise the next big win
    John Mack lost a power struggle at Morgan Stanley in 2001 only to return as CEO in 2005. He says he does what great athletes do - think about winning all the time.
  1. Learn from your mistakes
    Mickey Drexler, Gap CEO was fired after he built it into a $14 billion giant. Now, the CEO of J. Crew, he says what he learned from that episode was not to over expand at the expense of profitability.
  1. Remember that failure can be temporary
    Hedge Fund investor Eddie Lampert bought K Mart and later acquired Sears. He is being seriously tested now as the value of his largest investment has fallen 46% in the last 12 months. He says it has been difficult but he remembers Warren Buffet being down 50% twice in his career. Warren Buffet was actually down thrice.
Managing B players
In the past, the War for Talent focused on getting the STARS, the A players who were conventionally defined to be several times better than others. They were seen to add value to the organisation by quantum leaps. This led to the majority of the average performers in an organisation to be ignored or insufficient attention being paid to. While non performers being weeded out were understandable, the labels attached to B players was deemed unfortunate. Professors Tom DeLelong and Robert Sutton highlighted this issue in their books and articles. My work in the past months has been directed towards writing a book on Managing B performers. I have a slide share presentation at Linkedin.
Asia HRD Congress 2009
The Asia HRD Congress 2009 is just one week away. The event scheduled for May 11 to 13 at the Palace of the Golden Horses will be opened by the Honourable Minister of Higher Education and the Awards Ceremony will be graced by the Honourable Minister of Human Resources, Government of Malaysia. Great speakers, practitioners, consultants and authors will present some great sessions addressing the theme: Changing Human Capital Landscapes. To register, please email karina@smrhrgroup.com
Have a great month and will be in touch in June, just after the Asia HRD Congress 2009.
Best wishes,
Palan
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