Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

What's Your Employee Ownership Quotient?


Published on

Published in: Business, Technology

What's Your Employee Ownership Quotient?

  1. 1. Welcome<br />Boosting Your Employee “OQ” – “Ownership Quotient”<br />May 13, 2011<br />The Service Profit Chain Institute<br />
  2. 2. Our Speakers Today<br />Joe Wheeler<br />Executive Director, The Service Profit Chain Institute<br />Ava Abney<br />Chief, Office of Quality Management, <br />G. V. “Sonny” Montgomery VA Medical Center<br /><ul><li>Malcolm Baldrige National Quality Award Examiner since 2003
  3. 3. State of Florida Quality Award Lead Examiner since 2004</li></li></ul><li>The Service Profit Chain Institute<br />The Service Profit Chain Institute is a consulting firm dedicated to helping companies achieve better performance by improving the linkage between employees, customers and profits. <br />Founded by Joe Wheeler in collaboration with James Heskett and W. Earl Sasser of The Harvard Business School.<br />Points of Differentiation:<br />Proven, results-driven approach to Customer and Employee Experience implementation<br />Access to Thought Leaders and Senior Line Executives with relevant ‘Best Practice’ experience<br />Focused on helping clients build internal capability to achieve sustainable results<br />
  4. 4. The Ownership Quotient: Putting the Service Profit Chain to work forunbeatable competitive advantage<br />The Ownership Opportunity<br />Build Ownership Into Your Strategic Value Vision<br />Leverage Value Over Cost<br />Put Customers to Work<br />Boost Your Employee OQ<br />Engineer Ownership Through Anticipatory Management<br />Build a Strong and Adaptive Ownership Culture<br />Sustain Your Success<br />
  5. 5. AgendaBoosting Your Employee “OQ” (Ownership Quotient)<br /><ul><li>Cycle of Employee Ownership: Key areas of your business with the most impact on building “employee owners”
  6. 6. Real-life Examples of the link between inspiring and empowering employee accountability and creating “customer owners”
  7. 7. Tips for boosting your Employee “OQ”</li></li></ul><li>The Payoff<br />Employee-ownersexhibit such enthusiasm for their organization that they infect countless customers with similar satisfaction, loyalty, and dedication. <br />Customer-ownersin turn are so satisfied with their experiences that they tell their stories to others, persuade others to try your product, and provide ideas for new and improved products and services.<br />
  8. 8. Employee Owners<br /><ul><li>Have a stake in the game
  9. 9. Work harder and smarter
  10. 10. Feel connected to the greater cause
  11. 11. Do what it takes to exceed service goals and expectations</li></ul>> Loyalty<br />Ownership<br />
  12. 12. The Ownership Opportunity<br />Employee Ownership:<br />Offering ideas about how to improve processes<br />Recruiting new potential employees<br />Recommending new products and services<br />Customer Ownership:<br />Offering constructive complaints<br />Recruiting new customers<br />Recommending new products and services<br />Ownership<br />Employee Owners:<br /><ul><li>Provide 3.5 times the number of actual referrals per year
  13. 13. Convert approximately 57% of those prospective employee into actual new employees
  14. 14. Provide almost twice the number of suggestions for improvement each year</li></ul>Customer Owners:<br /><ul><li>Provide almost 50% more actual recommendations per year than non-owners
  15. 15. Convert approximately 68% of those prospects into new customers
  16. 16. Provide significantly more suggestions for improvement each year than non-owners</li></ul>Apostle-like <br />viral behaviors<br />Commitment<br />Loyalty<br />Satisfaction<br />Trial<br />Awareness and curiosity<br />
  17. 17. The Ownership Opportunity:Findings from One Company…<br />Where employees are owners, <br />customers are happier…<br />
  18. 18. Discussion Poll - 1<br />In your organization as a whole, what % of employees do you feel are owners? <br /><ul><li>Less than half (50%)
  19. 19. Between 50% and 80%
  20. 20. More than 80%</li></li></ul><li>Discussion Poll - 2<br />What % of your organization’s customers do you feel are owners?<br /><ul><li>Less than half (50%)
  21. 21. Between 50% and 80%
  22. 22. More than 80%</li></li></ul><li>Strategies for Inspiring Ownership<br />
  23. 23. Selection<br /><ul><li>Behavioral Interviews
  24. 24. Panel Interviews:
  25. 25. Build-A-Bear Workshop
  26. 26. Southwest Airlines
  27. 27. Realistic Job Previews
  28. 28. Cultural Fit</li></li></ul><li>Selection<br />Three Simple Truths:<br />“Who” rather than “What.”<br />Right folks in the right seat on the right bus!<br />Regardless of how you do the math…wrong folks do not equal right direction! <br />Jim Collins<br />Good To Great<br />
  29. 29. Onboarding<br /><ul><li>Make a great first impression
  30. 30. Wegmans Food Markets:</li></ul>Orientation: Living Who We Are:<br />Flown into Rochester<br />Danny and Colleen Teach<br />Leave with DVD <br /><ul><li>Connect them to the BIG Picture
  31. 31. Involve key leadership</li></li></ul><li>Onboarding<br />“68% of customers leave a company because of indifference.” <br />Tom Peters<br />
  32. 32. Coaching & Development<br /><ul><li>Involve them in goal setting
  33. 33. Make goals realistic
  34. 34. Focus on improvement
  35. 35. Harrah’s Entertainment
  36. 36. Link to larger goals
  37. 37. Provide ongoing learning</li></li></ul><li>Coaching & Development<br />“I must follow the people. Am I not their leader?”<br />Benjamin Disraeli<br />
  38. 38. Empowerment<br /><ul><li>Educate your staff on available resources
  39. 39. Encourage risk taking
  40. 40. Be clear about parameters
  41. 41. Ritz-Carlton
  42. 42. Give them freedom</li></ul>“Our new employee Katherine can commit up to $2,000 of the hotel’s funds to bring instant resolution to a guest’s problem.”<br />Laura Gutierrez, Director of Human Resources for the Ritz-Carlton Dearborn in Michigan<br />
  43. 43. Empowerment<br />“If you want creative workers, give them enough time to play.” <br />John Cleese<br />
  44. 44. Engagement<br /><ul><li>Workplace Design
  45. 45. Job Design
  46. 46. Team Learning
  47. 47. Meaningful Work
  48. 48. Idea Generation:
  49. 49. Fairmont Hotels & Resorts
  50. 50. Baptist Health Care</li></li></ul><li>Engagement<br />“The task of the leader is to get his people from where they are to where they have not been.”<br />Henry Kissinger<br />
  51. 51. Clinical Accountability <br />Report of Excellence<br />Indicator<br />New Indicator<br />Actual Result<br />World Class Target<br />One year of World Class <br />Results<br />Score of <80<br />Action Plans using <br />Score of 80<br />-<br />100<br />FOCUS<br />-<br />PDCA Re<br />-<br />monitoring<br />No change continue <br />monitoring<br />Performance Evaluation<br /><ul><li>Focus on observable behaviors
  52. 52. Align to strengths:
  53. 53. Rackspace
  54. 54. Tie back to organizational goals
  55. 55. Baptist Health Care</li></li></ul><li>Performance Evaluation<br />The health of the culture is directly proportional to the consistency of the leaders’ responses to behaviors, both positive and negative. <br />
  56. 56. Recognition <br /><ul><li>Be specific
  57. 57. Fairmont Hotels & Resorts
  58. 58. Make them feel like winners
  59. 59. Rackspace
  60. 60. Leverage intrinsic rewards
  61. 61. Encourage peer recognition
  62. 62. Tailor it to their style
  63. 63. Baptist Health Care</li></li></ul><li>Recognition<br />“Limited recognition and praise” was cited as the most common reason employees left a company. It was ranked higher than compensation, limited authority, personality conflicts, and all other responses.”<br />Robert Half International <br />
  64. 64. Strategies to Try TODAY to Boost You Employee Quotient<br /><ul><li>Foster a relationship between customers and employees that creates a powerful bond to your Brand
  65. 65. Demonstrate the Cycle of Employee Ownership
  66. 66. Follow the POWER!SERVICE best practice tips shared today</li></ul>Page 27<br />
  67. 67. Tool Kit for Inspiring Ownership<br />Paper Version:<br /><ul><li>Set of case studies and tips that provide managers with best practices that have the biggest impact in terms of results</li></ul>Online Version:<br /><ul><li>Set of case studies and tips
  68. 68. Customer Loyalty Calculator
  69. 69. Employee Turnover Calculator</li></li></ul><li>POWER!SERVICE™ System<br />
  70. 70. Thank You<br />Thank you for participating in our webinar!<br /> You are eligible for the following: <br />A recording of this webinar and a copy of the presentation will be available on our website later today..<br />Automatic subscription to the POWER!SERVICE Post<br />Complimentary Access to the POWER!SERVICE Readiness Assessment<br /><br />