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Springfield Chamber Membership Breakfast Spring 2011
 

Springfield Chamber Membership Breakfast Spring 2011

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Workplace Productivity & Culture - Presented by Meri Justis

Workplace Productivity & Culture - Presented by Meri Justis

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    Springfield Chamber Membership Breakfast Spring 2011 Springfield Chamber Membership Breakfast Spring 2011 Presentation Transcript

    • Workplace Culture and ProductivityIT’S YOUR BOTTOM LINE SPRINGFIELD AREA CHAMBER OF COMMERCE MEMBERSHIP BREAKFAST Presented by T HE J USTIS G ROUP
    • 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. Putting the Service-Profit Chain to WorkThe Justis Group Harvard Business Review
    • Employee Productivity Drives Profitability and Growth Leadership Profitability & Growth Putting the Service-Profit Chain to WorkThe Justis Group Harvard Business Review
    • Employee Productivity Drives Profitability and Growth Leadership Internal Quality Employee Satisfaction Employee Loyalty Employee Productivity External Service Value Customer Satisfaction Customer Loyalty Profitability & Growth Putting the Service-Profit Chain to WorkThe Justis Group Harvard Business Review
    • Work Place Culture and ProductivityThe 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 Justis Group
    • Work Place Culture and ProductivityCost 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-upThe Justis Group
    • 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 Justis Group
    • 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 Justis Group Blessingwhite Research
    • Work Place Culture and ProductivityBlessingwhite Research: Employer caution: …compared to 2008, more employees who can be considered highperformers are planning to exit.The Justis Group
    • Work Place Culture and Productivity Just working on retaining employees is not enough. You want engaged employees!The Justis Group
    • 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 Justis Group Blessingwhite Research
    • Work Place Culture and ProductivityEngagement 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 DisengagedThe Justis Group Blessingwhite Research
    • 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 Justis Group
    • 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 Justis Group Blessingwhite Research
    • 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 Justis Group Blessingwhite Research
    • 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 honestyThe Justis Group
    • Work Place Culture and Productivity Questions?The Justis Group
    • Work Place Culture and Productivity Insights and Actions (Card on table)The Justis Group
    • Work Place Culture and Productivity Thank YouThe Justis Group