If you’re a hiring manager at your organization, chances are that you have had a couple of new hires that haven’t worked out the way that you hoped. The costs can be staggering when you really sit down and analyze them. In work done by Dr. Bradford Smart, author of Topgrading, the estimated cost of a bad hire ranges from 5 to 27 times the amount of the person’s actual salary. The good news is that there are ways to systematically reduce the chances of this happening on your next hire.
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.
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.
High performance teams are critical to success in today's fast-paced and ever-changing business environment. In order to remain competitive, it is imperative that organization's build high performance capacity. Some common characteristics of high performing teams include:
It is difficult enough to engage employees that are in the same office as you, let alone keeping a geographically dispersed group of employees engaged. 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.
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 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.
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.
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.
Managing the daily, weekly, and monthly workload is a challenge for team members and leaders alike, but in very different ways. Teams have their KPIs and know what tasks they need to complete in order to achieve those goals. Team leaders and managers have the added tasks around team goals, team KPIs, other issues and other team projects that round out their to-do lists. The difference is that leaders have people to delegate to on their team that can complete the task. The challenge for any leadership style is finding the right person for job, and it doesn't always have to be you.
"Any change, even a change for the better, is always accompanied by drawbacks and discomforts." -Arnold Bennett
Whether you or an external force initiated the changes that are about to take place, preparation is essential for you and your organization. Change management tools can be the catalyst for immense success or supreme failure.
Early on in the process, develop a think rhythm about the future adjustments, the impacts of change management, and an employee focus. Change management is much harder than project management or business processes, as you are dealing with human beings that have feelings that they bring to the workplace.