Many believe there's a thin line between love and hate. Personally, I'm still on the fence and somewhat baffled by this depiction. Love and hate are two emotionally charged words that are polar opposites. However, since both feelings involve a great deal of passion, and passion is said to borderline insanity, I guess it's no stretch to see a line drawn.
But if we're haphazardly drawing lines in the sand, there is another, less touted, groove that I will make ... The fine line between those who deceive and achieve. The fact that the two key words in this statement rhyme may be all it takes to make this phrase a catchy one.
In the business world, many believe that it is a necessity to have robust accountability measures in place. When something doesn't meet forecast or go as planned, somebody needs to be held responsible.
Unfortunately, the lack of accountability measures and sheer acts of evasiveness may be more common and palpable at individual contributor or lower management levels, but it also exists at the very top of organizations; which is why key leaders like the CEO, CFO and Sales EVP work very carefully to choose every word. But before we delve into some of their tactics, let's first discuss the origin of where the chicanery begins, the resume.
A recent survey from Career Builder finds that 58% of employers have caught embellishments or downright lies on resumes. The most common offenders include:
57% embellished their skill sets
55% pumped up responsibilities
42% fiddled with dates of employment
34% inflated job title to sound more impressive
33% exaggerated academic degree(s)
26% lied about work history
18% false accolades or awards.
When I think of a padded resume, it's hard not to be reminded of Scott Thompson, former Yahoo CEO, who was quickly booted by the board after only four months at the helm for claiming to have a degree in computer science when he didn't. What's more alarming than Scott's dishonesty at the top-level is to question how many other charlatans have slipped through undetected.
It's never easy to identify less than honest behavior when it occurs and those who pull it off are usually quite good at it. This doesn't mean that we should believe everything we hear or not be inquisitive by questioning those things that don't appear to add up. The Sarbanes-Oxley Act (SOX) was established in 2002 to raise the bar on accounting standards, and ultimately protect investors against the financial reporting scandals observed from publicly traded companies like Enron and WorldCom.
This type of policy and auditing has helped but it's not foolproof. There are still many in the organization who have much to lose and will go through great lengths to spin the story. Remember how desperate times call for desperate measures. Listed below are a few examples of when executives have tried to put lipstick on a pig or view the landscape through rose-colored lenses.
When stock price is low - Beware of those companies who buyback company shares as a tactic to improve earnings per share (EPS) numbers. While others may waste time and money on performing a reverse stock split. Learn the reasons why The Street values the company where it does.
When sales are stagnant or declining - Beware of the person who's neck is on the line with everything to lose, or those multi-million dollar orders that drop during the last second of the quarter. Always be watchful of those who have the most to gain financially; e.g., quotas and performance based bonuses.
When company needs funding or is being acquired - Beware of statements, claims, generalizations and anything else that isn't proven. When the data or reporting is incomplete or gets overly complex, it's typically for good reason. Spend may be improperly pooled or accounted for and unconventional assessments can be created to spin false signs of promise.
When new products get released - Beware of the claims that sound too good to be true or of those who face tremendous pressure to perform by a certain date. The immediate need for top-line revenue growth tempts many to risk the release of a product before it's ready. This may result in recalls, lawsuits and expose the company to even greater damages down the road.
When executives turnover at top positions - Beware of companies with high attrition rates. When a company cannot hold on to its talent, it's for good reason. Unfortunately, the specifics are very rarely shared or publicized throughout the company. This is to avoid a mass exodus. So, at the end of the day, if you weren't paid substantially to be the last person standing ... don't take it personally it's just business.
Follow us on Twitter...
Join us on LinkedIn...
Purchase a Signed Edition of Welcome to the Big Leagues...
Latest Press Release: The Corporate Rookie PR
David Tu, President, DCL Inc
Luigi Sciabarrasi, Senior VP, DTZ
David Laverty, COO, Nixon Inc
Spencer Hughes, Radio Host, The Spencer Hughes Show
Todd Kauffmann, Senior VP, UBS Financial Services
Bettina Koblick, CHRO, Symantec
Peter Gebert, VP Finance, Mannkind Corp
Jeanne Phares, VP, Group Controller, Macerich
Jay Kaufman, VP Marketing & Strategy, Annai Systems
Jack Morgenstern, Global Head, Wipro Technologies
Sally Jenkins, VP Marketing, VMware
Andrew Del Matto, CFO, Fortinet
Steve Menchen, Scientific Fellow, ThermoFisher Scientific
John Sorci Jr., VP Global Operations, Symantec
10 Responses