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Growing business performance through people
Growing Business Performance Through Your People discusses three types of employees that affect business performance and tools to engage people. There are engaged employees who increase productivity and performance, disengaged employees who decrease performance, and actively disengaged employees who are harmful to performance. Three core reasons to increase engagement are the potential for higher performance, reduced costs of turnover, and reduced costs of staff issues like absenteeism. Tools to engage employees include surveys to diagnose engagement levels, 360 degree feedback to help managers understand how to support employees, performance frameworks to align goals, and leader development programs. Case studies show these tools can identify engagement issues and provide action plans to address them.
Growing business performance through people
- 1. Growing Business Performance ThroughYour People
- 2.
- 3. Agenda • Three typesof employees that affect business performance • 3 Core reasons to increase engagement • Tools to engage people and case studies • Next Steps
- 4. Three Types of Employeesthat Affect Business performance
- 5. Gallup Research “Engaged workersare the lifeblood of their organizations. Organisations who rated in the top 25% of engagement have significantly higher productivity, profitability, and customer ratings, less turnover and absenteeism, and fewer safety incidents than those in the bottom 25%” Gallop Research undeniably shows higher engagement = higher performance
- 6. Engagement and Productivity • 100+% •60-90% • 50% and below
- 7. Higher Business Performance Engagement % Goalis 2 widgets pm/pp 2 100% 2 75% 1.5 50% 1 Engagement % Goal is 1 innovation per quarter that attracts business 1 100% 1 75% 0.75 50% .50 Engagement % Goal is 1 innovation per quarter that improves process/reduce cost 1 100% 1 75% 0.75 50% .50
- 8. 3 Core Reasonsto Increase Engagement Potential for higher performance Reduce cost of turnover Reduce cost of staff issues
- 9. Higher Business Performance Staff are morecommitted to helping grow your business Staff speak positively about business in their networks, which helps your business and employment brand Customers are more satisfied dealing with positive engaged staff Staff are more motivated to innovate and continuously improve how they do things
- 10. Reduce the costof Turnover The cost of turnover is between 100-300% of managerial salaries and 50-120% of Operational • Downtime when people leave. Often staff that are leaving have been disengaged for a long time • Downtime when people start • Recruitment/Training time by manager and/or trainer • Recruitment costs • Some roles are difficult to replace • 70k salary could cost up to $210k
- 11. Reduce Cost ofStaff Issues Absenteeism – how much does it cost your business? 2% of 1m wage bill = $20,000pa Staff issues - can cost between $5000-30,000 Cost of distracted staff Managers forced to focus on issue not the business Hourly rates of all those involved x hours to resolve Cost of consultants Cost to settle or resolve
- 12. What do top performing organisations do…? (Gallup) 1.Provide a clear vision to their people on how they connect to the company’s mission and growth plans 2. Accountability and Performance – what get’s measured/reviewed gets done 3. Communication - Understand what your people need and connect them to your business purpose 4. Development and Ongoing Learning Opportunities 5. Give managers tools to engage people
- 13. Managers need helpto understand your peoples’ needs, in order to build engagement
- 14. Potent tools to support managers engageyour people Team Survey 360 Degree Feedback Performance & Development Framework Leader Development
- 15. Surveys – Diagnoseyour unique business Diagnose your teams needs Report produced that highlights key trends to focus on Individual issues can be identified and worked through as part of survey (with authorisation from employee) Action Plans are developed with the business and their managers to grow engagement
- 16. Survey case studies Business thoughtpay was key issue Communication and relationships with managers and mixed messages from managers had lowest ratings Acknowledgement for contribution was rated second lowest Feedback on performance was rated third lowest Training and Develop was rated Fourth lowest
- 17. Survey case studies Survey identifiedpockets of negativity affecting morale Relationship and mixed messages from leaders was an issue Lack of clarity on purpose and contribution Feedback on performance was rated as poor Training and Develop was rated as poor
- 18. Potent tools to support managers engageyour people Team Survey 360 Degree Feedback Performance & Development Framework Leader Development
- 19. 360 Degree Feedback and Coaching 1. Quicklyhelps managers to understand what their stakeholders need from them 2. Coach provides a customized, clear development plan to guide the manager 3. Manager gets key data on how to build great work relationships with your people 4. Stakeholders will value managers who show they can work to their needs 5. Engagement and performance will improve
- 20. 360 Degree Feedback and Coaching Case Studies Leadersgenerally are always surprised about their positive/negative blind spots Multiple people saying the same thing is more likely to be a catalyst for change Leaders value the customised coaching focussed on how to help them engage their people The Leaders leader values the development plan to help them coach and support their leader The stakeholders value the ability to provide confidential feedback
- 21. Potent tools to support managers engageyour people Team Survey 360 Degree Feedback Performance & Development Framework Leader Development
- 22. Business Purpose: Mission, values strategy, annual plan Alignyour people and structure to business purpose Develop, support, grow your people capability Review, recognise and adapt Business Performance Performance and Development Framework
- 23. Performance and Development Framework Efficacy Surveys and researchprove staff want to understand their contribution and be acknowledged for it Businesses who establish business goals and align staff to this, have higher performance Managers need these tools to engage people and deliver higher performance The process has to be continuous to be successful Managers need help and support to implement effectively
- 24. Potent tools to support managers engageyour people Team Survey 360 Degree Feedback Performance & Development Framework Leader Development
- 25. Leader Development: 5 Csof Performance Management Clear Consistent Collaborate Constructive Feedback Coach
- 26. Leader Development: Team Dynamics Poor teamfunction can cripple performance and cost time and $ Managers need tools to develop their team Tools help team members understand more about self and others style Communication, problem solving, decision-making, conflict resolution improve Business performance improves
Editor's Notes
- #5 .