Motivating smart

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Motivating smart principles include creating a family-like community

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Motivating smart

  1. 1. Motivating Smart – Cutting-Edge Employee Management Practices for the New Economy The Smart Guide to Human Resource and Management Seminars Presented by Warren J. Rutherford The Executive Suite
  2. 2. Program <ul><li>Motivating Smart Survey </li></ul><ul><li>Our new economy – knowledge based </li></ul><ul><li>Company future strategies – planning </li></ul><ul><li>The Family – Like Community </li></ul><ul><li>Alignment to do the Right Things Right </li></ul><ul><li>Decision-making & Behavior Styles </li></ul><ul><li>Steps to doing the Right Things Right </li></ul>
  3. 3. Motivating Smart Survey Please rank on a scale of 1 to 5, 5 being the highest, your company’s score for each statement below. Statement Score <ul><ul><li>Average Score = (Total/5) </li></ul></ul><ul><li>We have open and honest communication that empowers employees. </li></ul><ul><li>Employees hold each other accountable against agreed upon plans and standards. </li></ul><ul><li>Employees are committed to jointly owned, shared goals, values, and beliefs. </li></ul><ul><li>Employees consider their jobs rewarding and interesting. </li></ul><ul><li>Employees' values, motivations, and talents are understood and measured. </li></ul>
  4. 4. Motivating Smart Survey <ul><li>Results - </li></ul><ul><ul><li>If your average score is 4 to 5, you are motivating smart. </li></ul></ul><ul><ul><li>If your average score is 3 to 3.8, you are in the caution zone & need improvements to your motivating program. You can benefit from better alignment, making you much more productive & profitable. </li></ul></ul><ul><ul><li>If your average score is < 3, you are in the danger zone & are probably out of alignment, may have poor motivational programs, and are much less productive & profitable than you could be. </li></ul></ul>
  5. 5. The Economy We Knew <ul><li>1978 NYU Stern School of Business Study (5,000 companies) </li></ul><ul><li>95% correlation between balance sheet and business value </li></ul>
  6. 6. The New Economy We Need to Know & Understand <ul><li>2005 NYU Stern School of Business Study </li></ul><ul><li>28% correlation between balance sheet and business value </li></ul><ul><li>Intangibles – the 72% </li></ul><ul><ul><li>Intellectual Property </li></ul></ul><ul><ul><li>Strategy </li></ul></ul><ul><ul><li>Brand </li></ul></ul><ul><ul><li>Systems </li></ul></ul><ul><ul><li>Processes </li></ul></ul><ul><ul><li>Access to Capital </li></ul></ul><ul><ul><li>Off balance sheet items </li></ul></ul><ul><ul><li>Customer reputation </li></ul></ul><ul><ul><li>Executive Team </li></ul></ul>
  7. 7. Why it is Important! <ul><li>Only 5% of a workforce understands their company’s strategy. </li></ul><ul><li>Only 15% of senior management spends more than 1 hour a month defining strategy and aligning operations to it. </li></ul><ul><li>Only 25% have their operations aligned to the strategy. </li></ul><ul><li>Only 40% align company from budget to strategy. </li></ul><ul><li>David Norton, Balanced Scorecard Report, Vol. 3, No. 5 (Sep/Oct 2001) </li></ul>
  8. 8. Strategies to Succeed <ul><li>How do people contribute to the success of our business? </li></ul><ul><li>Cornell Study – </li></ul><ul><ul><li>Workforce alignment requires - </li></ul></ul><ul><ul><ul><li>The right types of people, </li></ul></ul></ul><ul><ul><ul><li>In the right places at the right times, </li></ul></ul></ul><ul><ul><ul><li>Doing the right things right. </li></ul></ul></ul><ul><ul><ul><li>A company with the right types of people has employees with the knowledge and skills necessary to help that company achieve its goals. </li></ul></ul></ul>
  9. 9. Family – Like Community <ul><li>3 different strategies used to motivate people – </li></ul><ul><ul><li>Family – Like Community – employees are motivated primarily out of a sense of responsibility to one another and the company; </li></ul></ul><ul><ul><li>Interesting & Rewarding Jobs – employees are provided with challenging work opportunities and chances to learn and grow; and </li></ul></ul><ul><ul><li>Fair Compensation – Companies use compensation to motivate people & pay higher wages than their competitors. They also use incentives to attract, reward, and retain their people. </li></ul></ul><ul><li>Creating a Family – Like Community were found by the Cornell researchers as strongly and positively related to creating the best, long-term workforce alignment. </li></ul>
  10. 10. Alignment Enhances Productivity and Profit <ul><li>Doesn’t it make sense that - </li></ul><ul><ul><li>An aligned workforce increases productivity and profit, </li></ul></ul><ul><ul><li>We need to better understand our employees to further drive the success, growth, and performance of our business. </li></ul></ul><ul><li>A study of large publicly traded firms, found that companies using “ high performance ” human resource practices have market values that range from between $16,000 and $40,000 per employee higher than firms that do not use such practices. </li></ul>
  11. 11. Aligning Your Company Practices to Motivate People to do the Right Things Right Requires You To - <ul><li>Develop your company’s long-term strategy and plan with your employees – </li></ul><ul><li>Develop a comprehensive orientation program for all new employees; </li></ul><ul><li>Hold company-wide meetings to share information about the company with your employees on a quarterly basis & openly share information with your employees regularly; </li></ul><ul><li>Sponsor company social events; </li></ul><ul><li>Work hard to create a strong social environment at work; and </li></ul><ul><li>Offer profit or gainsharing pay. </li></ul>
  12. 12. How Employees (& Owners ) Think <ul><li>There are 3 ways we can think about anything – </li></ul><ul><ul><li>Our head – systems & structure </li></ul></ul><ul><ul><li>Our hands – practical, let’s get it done </li></ul></ul><ul><ul><li>Our heart – empathy, the impact on others </li></ul></ul><ul><li>Each of us has a different balance of these 3 styles & explains why our decisions and actions are different. </li></ul><ul><li>The way we make decisions & how we use them are at the core of who we are. They are key to our preferences, our strengths, and our weaknesses. </li></ul><ul><li>If you know your strengths, how can you use them to positively influence the company? </li></ul><ul><li>How does knowing that help to ensure that employees can contribute more (or less) to certain desired activities? </li></ul><ul><li>We know that balanced decisions involve each of these 3 styles. </li></ul><ul><li>Think Company-Person Alignment & Workforce Alignment. </li></ul>
  13. 13. How Employees (& Owners ) Behave <ul><li>There are a variety of behavioral assessments in the marketplace, we will discuss DISC. </li></ul><ul><ul><li>D = Decisive – ( Problems ) Problem-solver, results-focus, </li></ul></ul><ul><ul><li>I = Interactive – ( People ) Interact with others, show emotions, </li></ul></ul><ul><ul><li>S = Stability – ( Pace ) Persistent, steady, </li></ul></ul><ul><ul><li>C = Cautious – ( Procedures ) Standards, protocols </li></ul></ul><ul><li>Being self-aware (and aware of others behaviors) often can assist employees to contribute in ways that are more natural for them. </li></ul><ul><ul><li>Understand how to communicate better, </li></ul></ul><ul><ul><li>Identify the ideal job climate, </li></ul></ul><ul><ul><li>Be more effective, </li></ul></ul><ul><ul><li>Develop a motivational work climate, </li></ul></ul><ul><ul><li>Know what they can improve on, and </li></ul></ul><ul><ul><li>Understand how they share and learn. </li></ul></ul>
  14. 14. Developing Your Company’s Long-Term Strategy and Plan <ul><li>Develop the Strategy and Plan with your employees – </li></ul><ul><ul><li>Use a facilitated process to discuss company-wide </li></ul></ul><ul><ul><ul><li>SWOT, </li></ul></ul></ul><ul><ul><ul><li>Goals & objectives, </li></ul></ul></ul><ul><ul><ul><li>Strategies to accomplish goals, </li></ul></ul></ul><ul><ul><ul><li>Action plan, </li></ul></ul></ul><ul><ul><ul><li>Mission, and </li></ul></ul></ul><ul><ul><ul><li>Vision </li></ul></ul></ul><ul><ul><li>During the facilitated process remember to ask employees how these goals, strategies, mission, and vision FIT with their view of the company’s future success AND their view of their own future success. </li></ul></ul>
  15. 15. Develop a Comprehensive Orientation Program for Employees <ul><li>If existing employees can list your mission, vision, goals, strategies – chances are they participated in your strategy & planning sessions. </li></ul><ul><li>New employees need this information – starting at the interview process – and continuing with an orientation program. </li></ul><ul><li>Orient new employees to learn in greater detail – </li></ul><ul><ul><li>Your strategy & plans, </li></ul></ul><ul><ul><li>Customer relationships, </li></ul></ul><ul><ul><li>Methods to demonstrate employee commitment, </li></ul></ul><ul><ul><li>Level of job involvement, </li></ul></ul><ul><ul><li>Adaptability of company & employees to changing conditions, </li></ul></ul><ul><ul><li>Helping behaviors patterns, & </li></ul></ul><ul><ul><li>Knowledge sharing. </li></ul></ul>
  16. 16. Hold Company-Wide Meetings <ul><li>Hold Quarterly meetings to share progress, discuss, and recognize employees in the following areas: </li></ul><ul><ul><li>Progress in achieving your annual goals & plans, </li></ul></ul><ul><ul><li>Customer relationships – Examples that provide a high level of service, </li></ul></ul><ul><ul><li>Employee commitment – Examples that show commitment & discuss other ways, </li></ul></ul><ul><ul><li>Level of job involvement – Examples of extra effort that goes above and beyond the job requirements, </li></ul></ul><ul><ul><li>Adaptability to changing conditions – Examples of new skills, knowledge, taking on new tasks and roles, </li></ul></ul><ul><ul><li>Helping behaviors patterns – Examples where employees helped each other, </li></ul></ul><ul><ul><li>Knowledge sharing – Examples of best practice discussed and distributed </li></ul></ul><ul><li>Let the employees who are highlighted present and share their information with others </li></ul>
  17. 17. Company Social Events & Activities <ul><li>Develop camaraderie – variety of activities & events can develop </li></ul><ul><li>Sports activities – active or spectator </li></ul><ul><li>Fundraisers – for non-profits, special causes </li></ul><ul><li>Annual outings/picnics </li></ul>
  18. 18. Creating a Strong Social Environment <ul><li>What do your employees value? </li></ul><ul><li>What motivates them? </li></ul><ul><li>What talents did they bring to the company? </li></ul><ul><li>How can you better enable them to employ their values, motivations, and talents? </li></ul><ul><li>ASK! Show them you care. </li></ul>
  19. 19. Profit or Gain – Sharing Pay <ul><li>Profit sharing – A system where </li></ul><ul><ul><li>A portion of pre-tax profits are placed into a pool that will be distributed among eligible employees. </li></ul></ul><ul><ul><li>The amount distributed to each employee may be weighted so that employees with higher base salaries receive a slightly higher amount of the shared pool of profits. </li></ul></ul><ul><ul><li>Generally this is done on an annual basis. </li></ul></ul><ul><li>Gainsharing - A system that includes </li></ul><ul><ul><li>A financial measurement and feedback system to monitor company performance and distribute gains in the form of bonuses when appropriate, and </li></ul></ul><ul><ul><li>A focused involvement system to eliminate barriers to improved company performance. </li></ul></ul>
  20. 20. Creating Alignment with Family – Like Community <ul><li>Employees want to be valued, they want to know that their values and their behaviors, their knowledge, abilities, and capabilities will be desired. </li></ul><ul><li>They want an honest, respectful, and effective communication process that motivates and inspires. </li></ul><ul><li>They want a company environment where they can be their competitive best, productive best, and effective best – without thinking that they are being forced to be that way – but by thinking and knowing that they and you want to be that way. </li></ul><ul><li>Practical experience suggests that the employer and employees work together to create meaningful motivating systems that can increase company productivity & profit. </li></ul><ul><li>Make it a dynamic, motivating environment. </li></ul>
  21. 21. Summary <ul><li>When there is a family like community that has a </li></ul><ul><ul><li>Strong social environment, </li></ul></ul><ul><ul><li>Sponsored social events & outside activities, </li></ul></ul><ul><ul><li>Regular company meetings, and </li></ul></ul><ul><ul><li>A competitive compensation system – </li></ul></ul><ul><li>There is a greater likelihood that you have practices that will help you to Motivate Smart and be more productive and profitable. </li></ul>
  22. 22. Thank you! For more information - Warren J. Rutherford Owner The Executive Suite 129 Airport Road Hyannis, MA 02601 [email_address] www.theexecutivesuite.com 508-778-7700

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