As the middle market strategy execution experts, we get asked a lot of questions about KPIs or Key Performance Indicators for firms to manage the metrics that matter. In fact, we get hundreds of thousands of yearly views on our KPI blog posts alone! Our comprehensive KPI Guide is one of the most valuable free resources that we offer to the middle market community free of charge to help companies determine the right set of KPIs for their business if they don’t have the resources to utilize our expertise and KPI dashboard software to create a balanced scorecard (BSC) of their performance.
Team meetings are a key component of any business. It’s important that the employees know and understand what’s going on with the company and what expectations they need to meet in order for the company to be successful. It is one of the best ways to create a culture of continuous improvement. Want to run a great meeting and save time each and every week? Just follow our tips on how to run a team meeting.
How does your team react to the weekly meeting? Is it a task they dread? Do they welcome the break from their desks? Do they get frustrated because every single meeting always seems to be about the concerns of one single person? Do the meeting participants believe it is time well spent? We have found that companies that take control of their meetings get a huge return on their investment with high employee engagement.
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.
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. 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 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 whole business to catch up to this advancement.
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.
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 2020. 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.
Verne Harnish notes in his book Mastering the Rockefeller Habits that the difference between organizational vision and organizational alignment as drivers toward success is a whopping 99%. He demonstrates that vision = 1%, while team alignment = 99% yet few organizations put as much effort into creating organizational alignment as they do creating their vision statements, BHAG, 3 year strategic plan and more. The truth is aligning your organization around your strategic plan enables your team to execute against its goals and scale up the company.
Think about the power of that assertion for a moment. Why is it that organizational alignment (or organisational alignment) is exponentially more important to success than vision? The importance of organizational alignment, can't be understated - but how do you achieve it? How can I increase the level of organizational alignment in my company culture? What type of work structure allows you to achieve increasingly better business performance? You need to get into a Rhythm of 3 Year Strategic Planning, Annual Planning, Quarterly Execution Planning, and Weekly Team Meetings. Teams work more effectively when they know what their role in the company plan is, so make sure that you communicate that effectively and often
How an employee moves through the ranks and advances in a company usually starts with them being an exceptional entry-level employee. The manager recognizes the talent, the perseverance, the alignment to core values, and develops that employee towards a promotion. This employee continues to dazzle — they hit all of their KPIs and grow revenue by leaps and bounds. They reach their targets each quarter. They’ve earned a promotion to Senior Employee as part of their career development.
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.
In any industrial company, there are business goals to hit, KPIs to measure and OKRs (Objectives and Key Results) to complete. In manufacturing companies, the business goals and KPIs carry a different weight because of the raw material costs, labor costs, supply chain issues, and other factors involved in getting your product to market. Strategic planning has a special role in manufacturing so you know where your business is starting from and what end goal you want to achieve. Quarterly planning is key in accomplishing those targets.