As a CEO, you have specific challenges from a leadership perspective. You have to keep your team connected to your overall strategy, make sure they get the resources they need to be successful and drive focus & accountability at every level—this is no small task, for sure! CEOs who use Rhythm have some incredible resources right at their fingertips to help them do just that.
Job Scorecards (or employee scorecards) have been a hot topic recently. Many companies are looking for a way to provide more constant and balanced feedback and coaching to employees, instead of just an annual review. The scorecard approach allows company managers to achieve their strategic objectives.
The truth is, traditional annual performance reviews can be riddled with anxiety. Many times employees perceive a connection to salary or a raise, which is stressful for everyone. The true value of a performance review - an opportunity for development and coaching - is often missed. The role and goal clarity that the employee scorecard provides enables managers to be more involved in employee performance.
After recently reviewing thousand of Annual Plans and Quarterly Plans, I can say without a doubt that improving employee engagement seems to be top of mind for everyone this year. How on earth do you keep today's dynamic and diverse employees happy, engaged and productive? It's the million dollar question that we ask ourselves year after year.
According to Gallup, companies with highly engaged workforces outperform their peers by 147%. Gallup also concluded that 87% of employees worldwide are not engaged. So, how do you know if your company is on the right side of those statistics? You need to start measuring employee engagement KPIs this quarter so that you can keep your A Players and reduce employee turnover. This is not just a function for the human resources department, the best team managers measure employee satisfaction KPIs on their teams.
We talk a lot about plans - annual plans, quarterly plans, team plans, project plans. But what’s your plan for the next 90 days? What are you doing? How will you deliver predictable results with your individual plan?
We all know that Rhythm strategic management software is about focus, alignment, and accountability. While most of the consulting I do is with teams, I love it when I get the opportunity to work with someone one-on-one. They are usually struggling with one question: How do I gain personal focus while still supporting my team’s plan?
Here are some great ways to center yourself, prioritize your own personal 13-week race, and set yourself up to deliver predictable results.
The most common pitfall I see in companies who are new to Rhythm and the Rockefeller Habits is thinking that setting targets for their KPIs is the same thing as having a plan. A complete plan includes KPIs, Company Priorities, Personal Priorities, and Red/Yellow/Green success criteria for all. A KPI target is simply the goal that you are trying to achieve, it is a metric. What is your team going to do in order to hit the KPI? Those are your key priorities, or quarterly rocks that will help you improve your business to meet the KPI targets.
Executive Weekly Meeting Team Size
For the most effective weekly team meeting, your weekly leadership meeting team should consist of 8-10 people. If your group is too large, consider who truly should be part of the executive team meeting. Perhaps some people should participate at the departmental team-level weekly staff meeting only if they aren't part of the strategic planning process. You can always invite them into the executive meeting when they have an important project that you need to discuss when it is time for an important update or discussion. Your goal is to avoid unproductive meetings by inviting too many people for the entire executive meeting, when they might only be relevant for a portion of the meeting.
Executive Meeting Framework
Also, the executive team should be using your Quarterly Plan as the framework for the meeting. The plan should consist of 3-5 Strategic Company Initiatives and 3-5 Personal Priorities each. Owners of those Priorities should have statused them Red, Yellow or Green prior to the Weekly Leadership Team Meeting. You need to discuss long term growth initiatives, not just the "urgent" items from your daily firefighting that need to go through the executive decision-making process.
Mergers and Acquisitions (M&A) are not for the faint of heart. Any CEO who has navigated those waters will tell you it is a tremendous challenge to blend cultures, systems, processes and teams successfully. The statistic is 70-90% of M&A's fail -- that's a scary number! Instead of focusing on that metric, let's talk about numbers we should be measuring around M&A.
Every acquisition deal starts with an incredible amount of due diligence. Are the cultures and values compatible? Do the product lines and customer bases support each other? Do the numbers work and take us down a path of growth? Ultimately, if the deal goes through, benefits have been seen by both parties. Now, it's up to the newly-merged company to both preserve the current value of the organization and meet growth projections. It's a delicate balance.
Planning Sessions are exciting - the possibilities are endless, the team is optimistic and ready to conquer the world! You spend countless hours discussing, debating and agreeing on your Core Values & Purpose, BHAG, Brand Promise, Key Initiatives and Quarterly Rocks. Decisions are made. Targets are set. Your One-Page Strategic Plan is beautiful! The work gets put into a Word doc and filed away for everyone to access. "Let's really do it this year," everyone says...
What is process implementation and what does it mean to me? As companies grow, the need to strategic establish implementation processes to help you scale to meet your business goals becomes inevitable. We've all reached a place in our role when the way we used to do things no longer works and we have to innovate. Necessity becomes the mother of invention - there's really no way to avoid it in a healthy growing company. The best companies are continually improving and have systems to implement a new process quickly and effectively.
The truth remains, however: implementing new processes at work is hard. It's some of the most difficult work that teams do. Some teams struggle with change itself - it pushes people out of their comfort zone and sometimes there is resistance. Other teams struggle to develop the processes themselves - they can't agree on the best way to proceed to improve the business process. Even if you can define a new process and make some headway on changing people's mindsets, there is still the uphill battle for implementing the key processes that turn plans into action. Management teams can help their employees to implement a new business process in five simple ways to maximize their implementation efforts.
Since the release of Patrick Thean's book Rhythm, it has been so exciting to speak with people who are implementing Rhythm in all types and sizes of organizations. It truly works for any business - regardless of revenue size or number of employees!
Many smaller organizations using the Rhythm methodology are using Excel spreadsheets to track their progress. And, for many that works. But for those who are now experiencing rapid growth, there comes a time when old systems no longer work. You hit a ceiling of complexity, and I'm reminded of Marshall Goldsmith's What Got You Here Won't Get You There.