3 More Questions (Walter Driver) with David Novak and Koula Callahan
Jan 29, 2024
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David Novak, former CEO of Yum! Brands, shares his best recruiting strategies, thoughts on mergers and acquisitions, and the importance of managing your inner world. They discuss creating an appealing work environment, aligning cultures in M&A, and the power of emotional and mental consistency in leadership.
Spending time with candidates outside the office and involving trusted employees during the interview process are effective recruiting strategies.
Identifying companies that align culturally and bring value is crucial in successful mergers and acquisitions.
Deep dives
Creating an environment where talented people want to work
Flosser's focus is on creating an environment that attracts talented individuals. It's his belief that as a leader, you are responsible for making your company a club people want to be a part of. One of David's best recruiting strategies at Young Brands was to spend time with the candidates outside of the office, getting to know their heart and soul. He involved his wife, Wendy, in the process, relying on her insights. Additionally, he had candidates interviewed by the most talented and culturally aligned employees, ensuring a good fit. David emphasizes the importance of personally reaching out to references to gather genuine feedback.
Embracing mergers and acquisitions
Walter Driver highlights the constant need to explore mergers and acquisitions in the gaming industry, as external innovation is always happening. David suggests identifying companies during the strategic planning process that can bring value to your company. Evaluating cultural compatibility, added value, and potential synergies are key factors to consider in mergers and acquisitions. David emphasizes the importance of aligning cultures and ensuring that the acquired company brings capabilities your company lacks. By assessing these three aspects, leaders increase their chances of successful mergers and acquisitions.
Managing the inner world for leadership success
Walter Driver emphasizes managing the inner world as crucial for effective leadership. It involves achieving emotional consistency, acting as the foundation for building a thriving institution. David agrees and shares his practices, such as daily exercise, devotional, gratitude journaling, and anticipation of positive experiences. Both David and Kula acknowledge the negative impact of emotionally volatile leaders and the need for leaders to create a safe and consistent space for their teams. Consistency is cited as essential to building trust, and developing personal rituals and practices that contribute to mental consistency is key for effective leadership.
Get coaching from David by signing up to receive his Weekly Leadership Plan. It builds on each podcast episode by offering actionable steps you can take each week to incorporate the learnings from the episode into your leadership style. It only takes about 5 minutes and is a great way to start off your week!