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Ten Steps To Building A High Performance OrganizationPresentation Transcript
Ten Steps to Building a High Performance High Value Organization Dr. Shayne G. Tracy
Ten Steps to Building a High Performance Organization 10. Communicate, Communicate, Communicate 9. Harness the Power of Technology 8. Develop a Succession Plan 7. Recognize and Reward Top Performance 6. Create a “Learning” Culture 5. Create an “Earning” Culture 4. Get the Right People in the Right Positions Doing the Right Thing 3. Define Your “System” and Develop Metrics 2. Know and SERVE Your Customer 1. Define Your Business and Develop Your Strategy
Building an Asset...NOT Just a Business! “What choice can I make and action can I take in this moment to create the greatest net value?” —Peter Demarest, Answering the Central Question
Define Your Business and Develop Your Strategy What business are you really in? What value do you create and deliver? “The value of any currency is defined by the receiver, not by the holder...” —Dr. Donald M. Carmont Is your “currency” current? How often to you re-visit your strategic plan? Do you have a third pair of eyes?
Know and SERVE Your Customer “One who knows the customer best has no competition!” Who is your customer? Who do you WANT to be your customers? Have you applied the 80/20 rule to determine which customers drive value and margins? What customers should you “fire”! Are you creating a unique customer experience Loyal customers build your brand and asset
Define Your “System” and Develop Metrics Map your business processes from the customer’s experience Inspect your system of processes for impediments to delivering the ultimate customer experience MAP (measure, assess, plan) your metrics for each process Develop scorecards for the four dimensions People, operations, finance, and customer
Get the Right People in the Right Positions Doing the Right Thing Which positions create the greatest value? Are you properly recruiting, selecting, hiring and compensating appropriate to value creation? Are you investing “value” in positions that don’t generate “value”? Are you valuing people who create value?
Create an “Earning” Culture Choose to develop an earning culture: not a culture of entitlement or fear In an earning culture, job security is possible but not promised An earning culture is a culture where value is rewarded, not perfunctory performance An earning culture differentiates between poor performers and top performers
Recognize and Reward Top Performance Recognition begins with compensation commensurate with contribution (value for value) Recognition doesn’t have to be financial Don’t overlook the “power of appreciation” The best reward systems are those where workers are involved in determining what will be rewarded and how
Create a “Learning” Culture A “learning” culture is first and foremost a culture that views the workplace as the classroom All mistakes, successes, and everything that occurs is embraced as “lessons learned” Learning organizations link their training and development to: Strategic intent Employee development: developing leaders from the shop floor to the top floor Career development and succession
Develop a Succession Plan Don’t wait for retirement to overtake you before you develop your exit strategy and succession plan Employees that are coached, mentored, valued and engaged remain loyal and are your best pool of candidates for future leadership Do you have a replacement that you are mentoring and grooming to take over?
Harness the Power of Technology Recognize that technology is a “support” system and shold not “supplant” your core business model Technology is an enabler to accelerate the achievement of your strategy Don’t sacrifice “high touch” at the altar of “high tech”
Communicate, Communicate, Communicate Communication is the lubricant that makes the machinery of your organization function Communicate is more than “telling” Communication is ultimately “understanding” Effective leaders achieve this by being among their people, listening to their people, engaging their people, and keeping everyone informed Operate on a “first-to-know” basis Openness builds the trust that builds your value