I was honored to have my article Cultures That Create a Climate for Change Are More Innovative, featured in the Winter 2022 Journal of the American Management Association (AMA) Quarterly (pg. 23). I am privileged to share it with my trusted readers/followers as well.
Businesses have to start thinking outside of the box. What other goals could a company have? Goals, Coaching, Accountability & Rewards, Productivity Pyramid ® Each executive, director, manager and supervisor should brainstorm with each direct report on three to six specific goals for their area. One additional goal should be a personal goal. For instance: read books, cook, exercise, weight loss or any personal goal.
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. What I would like you to think about, is a personal monthly COACHING session with your direct reports, where the above techniques are used to improve their work situation. If monthly coaching sessions are held, how easy do you think it would be to hold an employee accountable? Much easier than an annual review.
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.
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. Productivity Pyramid ®
One hundred percent of companies have a revenue goal. Most have a net income goal that is usually only known by upper management. But what other company activities should be company goals? Productivity Pyramid ®
A productivity improvement program, Productivity Pyramid ®, with a pay for performance program where there are company and employee goals with monthly coaching sessions should be implemented. This method raises company 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 traits to create a winning atmosphere and team culture that will produce superior results.
Productivity Pyramid ® holding on to your A Performers. A productivity improvement program, Productivity Pyramid ® with a pay for performance program where there are company and employee goals with monthly coaching sessions should be implemented. This method can raise a company productivity by over 400% and help you get those A performers. If monthly coaching sessions are held, how easy do you think it would be to hold an employee accountable? Much easier than an annual review.
Most companies utilize an annual employee performance review or no review at all. Preparation for this review is tedious and not very enjoyable. One must think back on the year and remember the good and bad employee performance elements. This process is painful. The ultimate outcome has many flaws. Productivity Pyramid ® Revenue and Profits
Productivity Pyramid ® increases profits and value for companies. Now the magic of turning supervisors from critics to coaches. Each month schedule one hour per employee to go over WAYS THAT YOU BOTH CAN HELP TO ACHIEVE THE EMPLOYEE’S GOALS. Try incorporating all of the characteristics shown above for a good coach. What happens is the employee’s annual goals magically get completed in two – three months. Then more goals are given and both help to achieve. This happens over and over to raise productivity by four to ten times.
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 relatives 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.
If monthly coaching sessions are held, how easy do you think it would be to hold an employee accountable? Much easier than an annual review. When it comes to having a successful company, employee retention is an important factor that can help you to get there as if you are always recruiting, your workload can increase and may affect the productivity of your employees in the long run. In order to improve upon this, you need to consider the value of your high potential employees and blogs, like those that can be found at Together can help you to keep ahold of the workers that help to make your company the success that it is. Not only that, but monthly coaching sessions can also help to make a big difference.
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. 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.
Next, each employee is asked to develop (with the help and guidance of their supervisor) six-eight goals with one as a personal goal (such as losing weight, gym workouts, reading books, visiting shut-ins, etc.) Now the magic of turning supervisors from critics to coaches. Each month schedule one hour per employee to go over WAYS THAT YOU BOTH CAN HELP TO ACHIEVE THE EMPLOYEE’S GOALS. Try incorporating all of the characteristics shown above for a good coach. What happens is the employee’s annual goals magically get completed in two-three months.
Coaching Concepts and Practice Session The rule of thumb is if you lose an A performer, it takes you 3 years of salary to get them back. Having goals accountability and rewards for your team ensures that you keep your A performers because it’s a huge expense to get another one back.. Have you ever had a good COACH? This often occurs on an athletic team. What are the characteristics of a GOOD COACH? Encouragement, teaching, and helping to improve skills, immediate feedback, patience, to name a few.
If your company is getting to the stage where you want buyout a company or maybe complete a merger. You will need a valuation for that. In finance, valuation analysis is required for many reasons including tax assessment, wills and estates, divorce settlements, business analysis, and basic bookkeeping and accounting. Since the value of all things will fluctuate over time, valuations are as of a specific date. Valuations do not last forever; you will need to get them whenever a big event comes up. Remember value always changes.
When criticism is needed, use a technique such as the “Sandwich” principle: Two positive comments sandwiching the constructive thought. Also, a good coach using “Active Listening” techniques. This means that “listening” is more important than “telling” or “suggesting”. Especially at first; gather the facts, listen to understand the situation BEFORE suggestions are given. Work as a team to suggest and improve performance. This must be trained and practiced. If this: Goals – Coaching – Accountability – Reward system is implemented employee productivity and company profits will soar.
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. What I would like you to think about is a personal monthly COACHING session with your direct reports where my productivity pyramid techniques are used to improve their work situation. If monthly coaching sessions are held, how easy do you think it would be to hold an employee accountable? Much easier than an annual review.
The rule of thumb is if you lose an “A” performer, it takes you 3 years of salary to get them back. Your management team is important as long as we go to the next step which is Scalable. Scalable means you can take your system and it can be duplicated in other cities or other areas. You’ve got a system. If this: Goals – Coaching – Accountability – Reward system is implemented employee productivity and company profits will soar.
Try to incorporate all of the characteristics used in my last article for a good coach. Employee Performance/Productivity Monthly Coaching Dreading those annual reviews? Looking for a better solution? Productivity Pyramid ® Annual Employee Reviews – Why They Don’t Work – And What You Can Do. PRODUCTIVITY METRIC
One way to track the progress of the productivity increase is to create the Productivity Metric. Track monthly by department, division, and company. Go back three to five years and see what is was before and then continue tracking the goals – coaching – accountability – reward system is implemented
PRODUCTIVITY METRIC : = REVENUE/FTE
Have you ever had a good COACH? This often occurs on an athletic team. What are the characteristics of a GOOD COACH? Productivity Pyramid® Nate, Portland, OR will implement this concept to improve performance. He learned other key business concepts from Dale Richards’ presentation on Business Valuation Principles – How to Increase Your Business Value, Financially, Operational and Strategically.
