Business Financial Principles and the Productivity Pyramid ®

A CEO of an Employee Assistance Program (EAP), reported that 20%-25% of all people are having some life issue right now. That means many employees are currently struggling with a life issue. Life issues could include: financial problems, a sick child, sick parents, divorce, close relative untimely death, abuse, etc. If the workplace can help employees cope with these life difficulties, productivity will increase.

What is the productivity change for an annual employee review system? As a five-year Vistage Chair, we have had several speakers that indicate that an annual review has zero or negative impact on employee productivity.

Executives typically use” top-down” communication, instead of bottom-up coaching and listening. Good coaches engage the participant to bring forth ideas and ways to improve their position, activities, and skills. In a bottom-up coaching session, skills are discussed and trained. An effective coach uses the above traits to create a winning atmosphere and team culture that will produce superior results.

Whether an employee has gone through any life problems or not, productivity can always be improved with the right materials, whether that be through coaching or software. Nowadays, technology can help immensely in a number of sectors to improve productivity. For example, with things like https://bamboosolutions.com/products/navigator/, employees are able to find what they need quickly and digest information more easily. Software like this make employees work days much easier.

Keep in mind that the team must work towards the same preset goal while each is using their own skills. This does not mean that any skill is worth more than another. The key element is to recognize your weaknesses and fill your team with stronger members that can improve your business. Learn the keys of delegation and hold the team responsible, then reward for quality performance.

Jessi, Houston, TX, Emerging Leaders Group learned key financial and coaching concepts from Dale Richards’ presentation on Business Financial Principles and the Productivity Pyramid®. Jessi is part of a Vistage Emerging Leaders Program and loved the presentations and concepts.