Many companies have strong Annual Plans but fail to execute on them and miss their targets year after year. They know that they are missing something, but they aren’t sure what. There are many reasons why nearly half of all companies fail to meet their annual targets, but one of the most important reasons is that they fail to implement a strategic software system to drive company execution. As more employees work from home, they need to have an operating system for the business to stay aligned for the full year. It's time to ditch the strategy execution spreadsheet and upgrade to a system that can help your remote teams collaborate around common goals with complete alignment.
by Patrick Thean and the Rhythm Team
Business is moving faster than ever before, and these days your business needs to be as nimble possible to respond to the rapidly changing business landscape. In today’s nonstop global economy, there is always somebody, somewhere trying to capture part of your market and your customers. This has only increase with the global coronavirus COVID-19 pandemic, you need to be able to pivot faster than ever. You need to create an organization able to respond to the changes in the market more quickly than ever, or you will lose market share to the competition. Unfortunately, many of the legacy software tools that businesses use don’t adapt fast enough to work in today’s cutthroat global economy and need to be modernized. Software teams realized this decades ago and quickly shifted from the outmoded Waterfall methodology to the Agile software development framework; it is time for the traditional business planning to catch up to this advancement when implementing business strategy.
In working with middle market CEOs and their employees and they often wonder about their employee productivity and professional development. I often find that they are overlooking one of the biggest components of productivity, are your employees engaged or are they motivated? The team members may be motivated by a bonus and they will be productive, but if a team member is also engaged with their work - and its purpose - they are almost a third more productive. Let's talk about employee motivation and engagement, as they aren't the same thing.
As an employer, you want your workforce to be both engaged and motivated. With employee engagement at around 15% worldwide and 34% in the United States according to Gallup, it is important to know the difference between employee engagement and motivation. Engaged employees will decrease your employee turnover rate and you'll have much happier and longer tenured employees! This reduces training and recruiting costs to help the bottom line over the long term
As strategy planning experts, we often get asked how to run a strategic planning meeting, as great strategic meetings don’t happen by accident. They happen because someone is committed to THINKING through the purpose and outcome, PLANNING all of the details in advance, and DOING the hard work of running the meeting. This is the role of an excellent virtual planning facilitator that can help you better define your strategy, create a winning annual plan and leave with an action plan to get your annual initiatives done. In order to facilitate a planning session, there is a lot of hard work that needs to be done. These same techniques should be used for in person sessions and virtual strategic planning sessions with your management team.
Did you know that nearly half of all companies fail to meet their financial targets? Much of this lack of success can be traced back to poor annual planning sessions. Perhaps you talked about the targets and set them, but you failed to create an action plan to get there. I understand - there is an amazing amount of work that goes into facilitating a winning planning session. We know how hard it is, as our Rhythm experts have facilitated thousands of successful planning sessions to set our customers up for success. This blog will give a high-level overview of the five keys to creating a winning annual plan for 2021. To have an effective planning meeting make sure you and your leadership team follow the five steps highlighted in this article to have an effective planning meeting.
In my last blog, I talked about how most meetings suck. Now, I want to focus our energy on ways that we can fix them and have effective meetings. One of the biggest complaints that I hear about bad meetings is the lack of an agenda or getting it two minutes prior to the meeting. While having a meeting without an agenda is horrifying, I have attended several bad meetings that had a detailed agenda sent well ahead of time! The problem was that the agenda didn’t cover all of the areas that the company needed to discuss in order to grow their business. It isn’t just having an agenda; it is about having the right management meeting agenda template focused on solving problems facing your organization.
At Rhythm Systems, we work with clients to ensure they are measuring the metrics that matter to allow them to achieve their dreams and goals. Our strategy execution software allows you to create KPI dashboards to ensure team accountability, alignment, and execution-ready quarterly plans. The staffing industry KPIs for recruiting that we have compiled below represent many of the metrics that can be measured. However, make sure that you pick the top recruiting KPIs that work for you and your team.
The body has four main vital signs that doctors use all around the world to determine the condition of a patient. The four vital signs are body temperature, pulse rate, respiration (breathing) rate and blood pressure. These are measurements of the basic functions that keep you alive. They need to be functioning properly in order for anything else to work, including your brain! These metrics are just four of the hundreds of potential measurements that a doctor could use to assess the health of a patient. However, the four vital signs are the most important elements of a patient’s current state of health. Once the vital signs are stable, the doctor can begin to diagnose the long-term treatment of the patient, but they don’t do that until they know the vital signs have stabilized. Do you know the vital signs for your company's success at achieving its strategic plan and key business objectives?
Employee engagement for remote workers is a huge topic in the market today, especially with the Coronavirus (COVID-19) limiting travel and forcing a large part of the working population to work from home that don't typically do so, throwing their work life balance into chaos. It is difficult enough to engage employees that are in the same office as you, let alone engaging employees virtually. In today’s hectic and fast-paced work environment, organizations need to do everything they can do to create an engaging workplace that helps find, attract and develop A-players no matter where they are located.
What is a skip-level meeting?
As defined in an article by Jared Lewis, "In a skip-level meeting, upper-level management bypasses mid-level management to talk directly to non-managerial employees. Although there's not typically a special position known as a 'skip-level manager,' senior managers conducting these types of meetings are considered skip-level managers." The manager meets with employees to try to better understand their team members, build trust in the organization and get a better sense of the work environment challenges facing your front line employees. Skip level meetings for employees are just as important as they are for managers, and both should be well prepared prior to the "skip level meeting." Done properly, the skip level meeting is an effective tool to improve communications across your organization.