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Springfield Chamber Membership Breakfast: Spring 2011
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Springfield Chamber Membership Breakfast: Spring 2011

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Presentation includes financial tips from Tom Draggoo of Siuslaw Bank and Workplace Culture & Productivity from Meri Justis.

Presentation includes financial tips from Tom Draggoo of Siuslaw Bank and Workplace Culture & Productivity from Meri Justis.

Published in: Business, Technology

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Transcript

  • 1.  
  • 2. Top Three Business Tips Tom Draggoo Assistant Vice President Business Development Officer
  • 3. Plan your Work & Work your Plan
    • Conservative projections, sufficient capital, willingness to “bet the house.”
    • Know what your financial reports are telling you and act accordingly
      • Accounts receivable – avoid concentrations, don’t be someone’s bank
      • Sole proprietors – pay yourselves last
      • Save for a rainy day; business goes in cycles
  • 4. Under-Promise & Over-Deliver
    • This has everything to do with customer service
    • Phone calls, voice mail, email, RSVPs to invitations, good manners, etc.
    • Set realistic deadlines and then meet or beat them
  • 5. Code of Ethics
    • Sets the tone for the entire organization and creates a culture of integrity
  • 6. Code of Ethics
    • Rotary International’s Four-Way Test of the things we think, say or do:
      • Is it the truth?
      • Is it fair to all concerned?
      • Will it build goodwill and better friendships?
      • Will it be beneficial to all concerned?
  • 7. Questions
    • Tom Draggoo
    • Assistant Vice President
    • Business Development Officer
    • 541.746.7900
    • [email_address]
  • 8.  
  • 9. IT’S YOUR BOTTOM LINE SPRINGFIELD AREA CHAMBER OF COMMERCE MEMBERSHIP BREAKFAST Presented by T HE J USTIS G ROUP Workplace Culture and Productivity
  • 10. Harvard Business Review Study Service-Profit Chain Premise: When service companies put employees and customers first, a radical shift occurs in the way they manage and measure success. The J ustis G roup Putting the Service-Profit Chain to Work Harvard Business Review
  • 11. Leadership Profitability & Growth Putting the Service-Profit Chain to Work Harvard Business Review Employee Productivity Drives Profitability and Growth The J ustis G roup
  • 12. Leadership Internal Quality Employee Satisfaction Employee Loyalty Employee Productivity External Service Value Customer Satisfaction Customer Loyalty Profitability & Growth Putting the Service-Profit Chain to Work Harvard Business Review Employee Productivity Drives Profitability and Growth The J ustis G roup
  • 13. Work Place Culture and Productivity
    • The Bad News:
    • Employee Retention Ranges from 44% to 60%
    • ( Surveys: Manpower, Monster & Career Builder)
    • Cost of Turnover ranges from 25% to 250% of the annual salary per exiting employee
    • 45% of employees plan to look for a job in 2011 (Blessingwhite Research)
    The J ustis G roup
  • 14. Work Place Culture and Productivity
    • Cost Associated with Turnover:
    • Exit Costs : HR, Managerial Handoff, Lost Customer/Contacts, Lost Knowledge
    • Absence Costs : Coverage, Productivity, Disruption
    • Recruitment Costs : Advertising, Internal/External Recruitment, Hiring Manager, Screening
    • Onboarding Costs : Onboarding, Training, and Productivity Ramp-up
    The J ustis G roup
  • 15. Work Place Culture and Productivity
    • According to the US Bureau of Labor Statistics, the average non-farm turnover rate is 3.3%
    • How does your company’s
    • turnover rate compare?
    The J ustis G roup
  • 16. Top Reasons Why People Leave
    • My career 26% - I don’t have opportunities to grow/advance.
    • My work 15% - I don’t like what I do or it doesn’t make the most of my talents.
    • My finances 15% - I want to earn more money.
    • My desire for change 12% - I want to try something new.
    • My manager 10% - I don’t like working for him or her.
    • Other 18% - (economy, job conditions, company mission)
    The J ustis G roup Blessingwhite Research
  • 17. Work Place Culture and Productivity
    • Blessingwhite Research:
    • Employer caution : …compared to 2008, more employees who can be considered high performers are planning to exit.
    The J ustis G roup
  • 18. Work Place Culture and Productivity
    • Just working on retaining employees is not enough.
    • You want engaged employees!
    The J ustis G roup
  • 19. Work Place Culture and Productivity
    • Once we get past the issue of compensation, people want to contribute and see their contribution make a difference.
    • They want opportunities for learning, development, promotions and to feel as if they are part of the success.
    The J ustis G roup Blessingwhite Research
  • 20. Work Place Culture and Productivity
    • Engagement Defined:
    • Contribution to the company’s success
    • Personal satisfaction in their role
            • 33% Engaged
            • 24% Almost Engaged
            • 15% Crash & Burners
            • 10% Honeymooners & Hamsters
            • 18% Fully Disengaged
    The J ustis G roup Blessingwhite Research
  • 21. Work Place Culture and Productivity
    • So, what can we do to keep our best people – and keep them engaged in the work we do?
    The J ustis G roup
  • 22. Work Place Culture and Productivity
    • Coaching, relationships and dialogue:
    • Managers must understand each person’s talents, interests and needs and match those with the company’s objectives.
    • Tie employee goals to the company’s objectives.
    • They also need to build personal, trusting relationships with employees.
    • And they need open and frequent dialog with employees to head off problems that can lead to disengagement.
    The J ustis G roup Blessingwhite Research
  • 23. Work Place Culture and Productivity
    • Trust, communication and culture:
    • At the top level, a business owner must earn trust by being consistent in words and deeds.
    • It’s also important to communicate frequently.
    • Finally, create a culture where your company’s values are truly reflected in day-to-day business practices. In other words, walk the walk, don’t just talk the talk.
    The J ustis G roup Blessingwhite Research
  • 24. 7 Keys to Increasing Productivity
    • Hire right the first time
    • Terminate non-engaged employees
    • Give 80% of your management time to coaching, relationship building and dialoguing with the Engaged and the Almost Engaged
    • Train managers to lead proactively
    • Develop and maintain a goal setting culture
    • Celebrate achievements
    • Establish realistic work/life balance expectations for everyone
    • Be consistent in all things – create trust, open communication and honesty
    The J ustis G roup
  • 25. Work Place Culture and Productivity
    • Questions?
    The J ustis G roup
  • 26. Work Place Culture and Productivity
    • Insights and Actions
    • (Card on table)
    The J ustis G roup
  • 27. Work Place Culture and Productivity
    • Thank You
    The J ustis G roup
  • 28.