Three warning signs your career is in peril


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Do you feel your career has hit a rough patch? Don't panic, this happens to at least 50 per cent of executives at some point in their career. What you should know is that it doesn't come out of the blue. The trick is to spot the warning signs in time and to know what to do about it when it happens to you.
The three warning signs are:
1. It's all gone quiet. You're getting less feedback than you used to from people above and below you. Sadly this is unlikely to be because you've attained perfection.
2. Changes in your firm come as a surprise. You can't understand why nobody sought your opinion on the new hire, new initiative or new strategy.
3. You have less energy than you used to and you don't know why. Most executives have a strong sense of their own value. The flip side is it's easy to become closed and defensive when challenges come your way. But this retreating response could be the death knell for your car­eer if you're about to plateau.
Can you bounce back?
Definitely – a roadblock only requires a 90-degree turn. But once you're over the shock of the missed promotion or failed bid, you'll need to take a close look in your crucible moment at what went wrong and why.
If you've been going nowhere fast, these are the biggest career derailers:
1. A lack of self-awareness. You need to know what your personal strengths and weak­nesses are and how other people see you.
2. An inability to cope with change. Build resilience and develop the capacity to cope with the demands of your environment. This might involve some painful experiences when you question everything, but you will emerge with a surer understanding of who you are and where you are going.
3. A lack of 360-degree influence. You struggle to map out others' needs and interests, and the interdependencies with your own.
4. Poor communication across the hierarchy. You often think people understand you when they don't. It's not about what you think you transmit, it's about the message that is received. It's about understanding how to communicate.
5. Insufficient social capital. You have little ability to get things done through other people and fail to influence key constituencies, although you're not sure why.
So how do you turn it around?
The first step to coming back from a derailment moment is understanding what has happened. When the initial shock wears off, instead of just feeling defeated, defensive and angry, consider: "What does this tell me about myself and my development needs?"
Don't waste time working on your worst weaknesses though – you're better off avoiding situations where you're not in your strong suit and building a team around you that love the things you hate. There's a big difference between time wasted working on weaknesses, as opposed to valuable time spent working on one or two development needs – concentrate on the middle ground. Focusing on what you're brilliant at might be gratifying, but there's little growth in that.
Try something that's new and different, building on your existing skill set. Don't allow yourself to become indispensable in your current role. Too many of us are so busy milking the cow we forget to diversify.
Careers are an emergent process. You have to figure out the journey you're on. Who are you? Where are you going? What do you need to master to get there? Your development needs lie somewhere between your strengths and weaknesses.
Have the courage to confront the difficult questions. Are you in the right job? The way to know this is to think of the perfect "big win" day for you; would your employer agree? Approximately 50 per cent of us aren't in the best job for us, but typically lack the self-awareness and courage to do something about it. Have your mid-life crisis now by asking yourself fundamental questions about what success means for you in your career.
Finally, drop the idea that you either have it or you don't. Failure is an opportunity to learn. And careers are no longer ladders – the real survivors treat their careers like an emergent experience; a career is a maze to be navigated. That takes persistence and adaptability.
­Richard Jolly is an adjunct professor of organisational behaviour. The column was co-written by Randall Peterson, professor of organisational behaviour and academic director, Leadership Institute, London Business School.
business@thenational.ae
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NOVAK DJOKOVIC
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Wimbledon: 5 (2011, 14, 15, 18, 19)
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ROGER FEDERER
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RAFAEL NADAL
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French Open: 13 (2005, 06, 07, 08, 10, 11, 12, 13, 14, 17, 18, 19, 20)
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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Company name: Suraasa

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Founders: Rishabh Khanna, Ankit Khanna and Sahil Makker

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Industry: EdTech

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Walks for an hour every morning

Completed a Bachelor of Commerce degree in Loyola College, Chennai, India

2019 is a milestone because he completes 50 years in business

 

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Rainbow

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(Kemosabe)

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