Learnings from Irish sports stories
If you tuned into the media at all last week it was hard to miss the main sports story which was the decision of boxing coach Billy Walsh to move to the United States to coach their women’s boxing team at the Olympics. It was surprising that this was the main sports story in a week when Ireland crashed out of the Rugby World Cup despite high expectations but it made for some interesting reading nonetheless and there are a number of key lessons here for those in business who are trying to manage their organisations well as well as retaining their key people.
It seems it was considered a done deal that Billy would sign a new contract and this had even been shook on when it was agreed. If this is the case you would have to wonder what went so wrong after this. The answer is that although the main terms were agreed in principle this was not followed through on and in fact the Irish Amateur Boxing Association actually emailed Billy a few days after the meeting to suggest amendments to the contract. Contract negotiations for existing as well as new employees can be tricky affairs and the involvement of a supportive third party can help ensure these are finalised in a professional way. It is also vital that all stakeholder are involved throughout and issues don’t arise at a later point regarding approvals etc.
When Trust between an employee and an employer is compromised engagement levels are affected and performance dips. It’s difficult for leaders to always be aware of potential risk areas within their teams which is why it is vital that you create a conflict positive culture. Conflict is normal and is necessary for high performance as it helps generate the creative thinking necessary to innovate. If someone feels they cannot discuss their concerns or issues then they are more likely to pack it in when the opportunity arises. Although this may seem sudden for the individual it is often the only option they can see. Sometimes this is OK for the Organisation as some turnover can be healthy and can reinvigorate the team but not when it is your star performer and you are unprepared to manage their succession.
It is worth remembering that there are times when an employee or prospective employee will make demands that are not reasonable and/or the organisation simply cannot accept. It is at times like this that you really see the value of a good succession plan which you can utilise straight away. When negotiating you need to have a BATNA which stands to best alternative to a negotiated agreement. It weakens your negotiating positon if you do not have or are not aware of what this is. No deal is sometimes better than a bad deal… When we coach and consult with clients we work this through beforehand so you are not overly influenced in the heat of the moment.
Key questions to consider:
- Have you got a succession plan in place?
- Have you developed a negotiating strategy when dealing with a key person in your company?
- How much trust exists, what can be done to improve this?
- Do you have visibility of any potential problems coming down the line?
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