Performance currency “is the currency that is generated by your delivering that which was asked of you and a little bit extra. The former is valuable especially at the start of your career, but the latter is even more valuable, growing in importance as your career matures. Two concepts that Carla often talks about often, signalling their importance, are (i) performance currency and (ii) relationship currency. Performance Currency and Relationship Currency So therefore, you need to make sure that that person who is speaking has your best interests at heart and has the power to get it, whatever it is for you, to get it done behind closed doors.” There is a measure of subjectivity in how they say what they're going to say to influence the outcome. There is a measure of subjectivity in what they say and how they interpret any objective data that you might have. There is a measure of subjectivity in who is presenting your case. So that means it has that measure of subjectivity. “The combination of the two did not equal maximising my success, so I had to ask myself what’s missing in this success equation… You cannot have a 100% meritocratic environment when there is a human element involved in the evaluative equation, because by definition, that makes it subjective… there's not one evaluative process that I can think of, whether it's in academia, health care, financial services, not one that does not have a human element. One of Carla’s insights that is particularly useful for those starting out is that career success is not merely a function of how smart you are and how hard you work. And, on the topic of performance reviews: for more on preparing for your one-to-one performance discussion with your direct manager, see our post: Ace your Performance Appraisal. During his career, our Executive Director has experienced these types of meetings a number of times, including when selecting bursary candidates at a previous employer, and Carla’s description of the importance of someone speaking on your behalf is spot-on. This ranking then is “translated into a bonus range that would be assigned to each professional”. In her talk, Carla references the year-end evaluation process, called moderation in some companies, where employees are allocated into categories e.g. It is roughly 13½ minutes long, and below the video we recap highlights, together with more of her pearls on performance, relationships, perceptions, power, risk and mistakes, among others. Bankers Top 25 Most Powerful Women in Finance, and Black Enterprise’s Top 75 Most Powerful Women in Business, to mention a few.Ĭarla’s belief is that “we are blessed so that we can be a blessing to someone else.” As a result, she remains actively involved in her community and carries the energy of that empowering spirit to each presentation.Carla’s TED talk, given at TEDWomen 2018, focuses on sponsors, people “who will speak on your behalf in the top-level, closed-door meetings you’re not invited to (yet)”. She has been named to Fortune Magazine’s 50 Most Powerful Black Executives in Corporate America, U. Her presentations are colored with her experience as a senior member of the equity syndicate desk, executing transactions such as initial public offerings for UPS, Martha Stewart Living Omnimedia, Ariba, Redback, and the $3.2 Billion common stock transaction for Immunex Corporation. With audiences, Carla is applauded for her grace and humor, as well as what she calls “Carla’s Pearls,” delightful bits of evergreen wisdom. President Barack Obama appointed Carla to chair the National Women’s Business Council in 2013. Prior to joining Morgan Stanley, Carla received from Harvard Business School an MBA, Second Year Honors and an AB in economics from Harvard University, Magna Cum Laude. Harris began her career with Morgan Stanley in the Mergers & Acquisitions department in 1987. The breadth of her industry experience enables her to move effortlessly from topics of technology, retail, or media sectors to healthcare, telecommunications, and transportation. Carla Harris is a Senior Client Advisor, Former Vice Chairman, Managing Director at Morgan Stanley.
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