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Five Critical Components of Business to Ensure Operational Excellence – Business Operations Performance Management

Five Critical Components of Business to Ensure Operational Excellence – Business Operations Performance Management

by | Jul 12, 2021 | Business, Business Operations, Career, Leadership, Management, Performance, Productivity

In the day-to-day busyness of business, it is very easy to get mired in transactional stuff and lose sight of your mission and the reason you are in business and why you do what you do. How much more effective the organization would be and how superior the results if every person working on every task in the company can link it upwards stage by stage to the overall vision for the company ? If the person went home every day with a sense of fulfillment through finding Meaning in Work and knowing that his/her work contributed to a higher purpose? A shared vision is a very powerful motivator for people and operational excellence is possible only when there is a critical mass of people for whom business is personal.

Wishful thinking? Not really, when you consider that many studies have proved beyond a doubt that meaningful work leads to personal happiness, professional success AND profitable growth for the organization that provides this (clarity of vision, mission and inter-linkage to the efforts at ground-level).

So, how do you align your day-to-day business operations to ensure that you and your people are finding meaning in work? It all comes down to how well you have thought through, communicated and implemented these components of business:

Business Component #1: Vision Statement – A vision statement has the potential to become a rallying cry, a clarion call to unite every person in the company towards a higher purpose. Too often, vision statements are not clear enough or even inspiring enough to really become the powerful tool that it can be. Consider Nelson Mandela’s statement – “one team, one country” or Microsoft’s in the 90s – “A computer on every desk and in every home; all running Microsoft software.” A bold, definitive statement that shows people the destination and the purpose of their work is the starting point for everything. Coupled with a clear guidance on values and desired behaviours, a great vision statement can truly work to drive excellence in the organization. Read how Zappos.com CEO focused his team from “needing to motivate people to get things done” to “inspiring them to want to do things beyond expectations” (and so successfully) here.

Business Component #2: Strategic Planning – This is the next step, moving from the “where” to the how. A good strategic plan provides the map to achieve the vision. Working through the strengths and weaknesses of the organization, it should outline the actions that need to be taken to meet the goals. The plan should have clarity (admittedly difficult in the flux that exists in business today) and well-defined accountability and timelines so that it becomes clear and easy for everyone in the company to enable them in the decisions they need to make today to arrive at  to where the organization needs to be tomorrow. You will know if your strategic plan is clear if people around you understand what the story is – what leadership wants to do. Also, a strategic plan is not just about the future, referred to regularly, it can also be quite useful in assessing the current issues that are causing problems. Have a long-term strategy but refresh the plans operationally in shorter term periods so that the plan remains achievable and is not completely disconnected from reality.

Business Component #3: Budgeting – I call this “putting your money where your mouth is” or walking the talk. There is no point having a strategy if you are not willing to invest in it. This is where strategic planning gets transformed to operational realities. The budgets should be completely aligned to the strategic plan and not just the target numbers – in the short term and the long term – and thus serve as the guideline for communicating and executing on the business strategy. Break down the budget into tasks with timelines, identify the stakeholders best suited for each task, align existing processes and design new processes to ensure sustainability in advance. Assign accountability within the organization not just at the senior levels but right up to the front-line staff to ensure everyone knows and is signed up for the budget.  This helps in providing a clear line of sight for achieving the budget and hence the vision while building confidence in the budget within the organization itself.

Business Component #4: Measurements or Metrics – Numbers keep you honest provided they are not manipulated. Metrics help measure the effectiveness of the plan and the execution but is important to measure what is important :). Care must be taken to set metrics that actually drive the desired behaviors and do not risk people running after the wrong goals. The choices of key metrics need to be reviewed periodically – business is dynamic, why should metrics remain static? What makes sense to measure in today’s scenario may be irrelevant tomorrow. Also, it is not enough to measure, you also need to act. No metric is useful unless there is an action plan that arrives out of it and is communicated and implemented with urgency. Otherwise, a metric becomes just another number on a report that nobody pays attention to till it is too late. Metrics also serve the purpose of “milestones” or “scoreboards” for your vision to keep a track of the successes along the journey, create competitive spirit  and very importantly, serve as reasons to celebrate wins along the way.

Business Component #5: Execution – And finally, the most difficult part of the process – execution and execution at the speed that is needed. Larry Bossidy, the former CEO at Allied Signal, Inc. and Honeywell, and the co-author of Execution: The Discipline of Getting Things Done, said it like this: “Corporate strategies are intellectually simple; their execution is not. The question is, can you execute? That’s what differentiates one company from another.”  I have written about getting things done in complex organizations earlier – the point in this context is injecting the right “dose” of urgency into the organization. Spread energy and enthusiasm into the organization through the execution phases to generate alignment, urgency, and engagement in a majority of employees in the organization – to answer the “what is in it for me” question and to make the work “personal” and hence drive operational excellence through meaning.

The common important thread through all the above is of course, the culture that is built, lived and sustained throughout the organization – without the right culture, you may set everything up perfectly but the desired outcome will be far from reality. If people do not feel they have a safe environment or that there is mutual trust and respect, the energy gets drained out battling office politics, pacifying egos management and conflict management. There is no energy left for people who wish for meaning in their work, look for it and work towards it in their everyday activities. Operational excellence becomes a mirage. As Louis Gerstner said – ‘I came to see, in my time at IBM, that culture isn’t just one aspect of the game—it is the game.’

What have you seen worked in finding meaning in work in your organization? What vision statements do you think are great examples? How do you give meaning to your own work? I would love to hear and learn from you.

Pic Courtesy : http://www.flickr.com/photos/dunechaser/4395780325/

AI vs Humans: The Way Forward

AI vs Humans: The Way Forward

by | Apr 27, 2018 | Artificial Intelligence, World of Work

In the last two weeks, we have taken a deep dive into Artificial Intelligence (AI) backed technology, and its role in the world of work. Having spoken about the role of AI in recruitment, the reasons why it can never really replace human recruiters, and how AI can be used to eliminate HR and recruitment bias, we sum up the series with this post which advocates a nuanced approach towards Artificial Intelligence (AI) in the human world. While AI is here to stay and that is for sure, AI can never replace the humane qualities of politeness, empathy, compassion and humour.

With the advent of AI in almost every conceivable sphere our lives, the fact that AI will change our lives like never before can be said to have safely crossed the threshold of just speculation. Technology, and its innumerable by products – such as AI are important, but they can never wholly be independent of the indispensable human touch. Especially in fields such as recruitment which are based entirely on human resources, one cannot replace value of real human interaction to gauge and hone human talent, with mechanics of technology. While technology is an aide to help simplify the job of recruitment, and help perform tasks efficiently and effectively, it cannot replace the human connect.

Anupama Raju in her article “Beyond AI”, takes a witty stand on the tussle between AI and the human touch. Quoting from her article,

Every day, debates continue to rage between two schools — one that sees AI as some kind of evil force that will annihilate the human race, take away jobs and another that sees its wondrous possibilities. Amidst all this, one clear pattern is the machine’s or computer’s ability to advance till the day technological singularity will occur — when AI will reach human levels of intelligence. According to futurist Ray Kurzweil, this could happen in the next 30 years. We see AI around us every day as we rely, like hapless babies, on our smart phones, as the algorithms complete words and sentences for us in our WhatsApp messages, as we hang on to Google for every little piece of information, as we tumble dry our clothes in intelligent washing machines, visit a smart store or proudly display our Alexas. Henry Thoreau once said men have become the tools of their tools. Now more than ever!

AI is already becoming an area of billion-dollar investments for many companies globally. Departments that traditionally relied on human intelligence could all be augmented or perhaps replaced by an AI or a super intelligence. We will see more workplaces where AI will create superlative experiences for employees.

…At the same time, I’m not sure about the effectiveness of the algorithms of politeness, empathy, compassion or humour that could be fed into the machines. These are some factors that make life in the workplace and home worth living.

“There are some factors that make life in the workplace and home worth living.” And these factors are precisely the ones that separate humans as sensitive, rational, thinking beings from automated machines. In our hopes and efforts to shrink the world through technology so that every aspect can be capitalized, with efficiency and with speed, let’s remember to pause and look back every now and then.

Being happy in the now, being mindful in the now, being kind and present and human –  supersedes everything else. In the larger scheme of things, it is with the human qualities such as these do we create the moments we cherish for life. AI, and everything else is just a by-product of human intelligence, which cannot and should not replace the latter.

Eliminating HR and Recruitment Bias with AI

Eliminating HR and Recruitment Bias with AI

by | Apr 25, 2018 | Artificial Intelligence, World of Work

Some of the biggest challenges in the field of recruitment stem from HR (Human Resources) bias, which impact the crucial aspects of diversity, inclusiveness and equality in the world of work. These issues can be hard to resolve since a lot of times certain prejudices or biases are so deep-seated and normalized, that one doesn’t even realize they are being biased. With a judicious use of AI in recruitment and HR, we can hope to create and sustain a more equal and diverse work space. And here is how.

  1. Using AI to root out bias during recruitment

    This by far is one of the best uses of AI. While AI learns the patterns of recruitment by analyzing the past history, it is possible to mould the algorithms in a way so that while playing the necessary filters of finding probable candidates, it doesn’t stick to the past biases in recruitment. In this case, the result is having a much greater chance at a diverse work force, and at a fair recruitment process which keeps in mind only the necessary qualifications which defines the successful candidate. Thus, keeping at bay any and all biases related to gender, caste, class, religion, et al.

  2. Using AI to identify gender biased job descriptions

    Here is something Amanda Bell, Director of Recruiting at Lever, has to say about Gender biased job descriptions:

    “Luckily, this can be pretty easy. Review your job descriptions with the lens of “Who is the audience here?” If your answer is “any qualified candidate, regardless of gender,” you’ve done a good job! It’s not just about the presence of gender-specific pronouns – it’s also about using language that is inclusive of all genders. Stay away from phrases like “kick ass,” “ninja,” and, believe it or not, “brah.” You can also ask a few employees of various genders to read the descriptions and solicit feedback.”

    In fact, this problem is deeper and more pervasive than we think. Even seemingly harmless words have an impact on how gender inclusive the descriptions are. With the help of AI, we can move a step closer to creating gender inclusive job descriptions. This is often the very first step of recruitment. And getting the beginning right, helps ensure the standards of fairness all through the process.

  3. Using AI to see the “invisible bias”

    While bias in recruitment, and the way job descriptions are crafted can be identified to a certain extent, there are multiple other forms of biases which aren’t visible. These are often the more insidious ones. And are also often the mound of biases leading up to the formation of the glass ceiling.

    Turns out, it is very much possible to sniff these biases out with the help of AI. For example, Joonko, a new application powered by AI, acts as a diversity coach. Based on experiential learning of CEO and Co-founder of the product, Ilit Raz, she designed it after becoming aware of the several forms of unconscious biases she as a woman faced in her everyday work life. In contrast to the available AI tools which mostly look at recruitment biases, this tool aims at illuminating unconscious bias in workplace situations where very few people even think or feel it exists.  “We try to catch these ‘micro-events and point them out to managers and workers immediately.”, says the co-founder on what the product aims at.

    This is a beautiful way of blending technology and human understanding to create a truly inclusive and fair workplace.

  4. Using AI to eliminate biases from Performance Management Systems

    It is no secret that performance assessments are often shrouded by conscious and unconscious biases of the individual entrusted with the task. An unfair assessment of an individual’s contribution to the organization definitely impacts the overall work space environment, making it a less happy place for people to thrive and work in. A way of dealing with these biases is by using AI in performance management systems. It can take care of two main things that are often said to influence a manager’s decision making with respect to performance assessment:

    – Regency Effect: i.e., when a manager bases the performance of an individual on a recent event, rather than looking at his/her performance over a period of time, cumulatively.
    – Contrast Effect: i.e., when a manager compares or contrasts an individual’s performance against someone else’s, instead of comparing it to the pre-set standards for the given task role.

While the role of humans in the world of work can never be completely over taken by AI, there are things that AI can help humans do better. With the right balance, and insights, AI powered technology can help us move towards fairer, equal, diverse and happy work spaces.

Key Employee Engagement Strategies for Talent Retention

Key Employee Engagement Strategies for Talent Retention

by | Mar 13, 2018 | Management, Performance

For any business to be successful, it must have three things: a robust overall strategy, exceptional leaders, and engaged employees. This society has moved from an economy driven by the agricultural and manufacturing industries to a service oriented, personally connected economy.

One hundred years ago, employees were tasked with manual labor and had no vested interest in the business that employed them.

Today, with the demand for highly skilled talent, it is essential for employers and leaders to engage their employees and make them feel as if they are an integral part of the business.

In the past we wrote a blog post on employee engagement which was received with a lot of positive response by our readers – Five Must-Dos to Improve Employee Engagement – Transform the Zombies into Humans. We follow-up, with this guest post which analyzes employee engagement in a more recent context, and does so quite effectively.  John Hawthorne backs his insights with research on the key employee engagement strategies that stay relevant today.

Employee Engagement Most Recent Data

In 2017, Gallup’s State of the Global Workplace report revealed that only 15% of employees worldwide are engaged in their jobs – meaning that they are emotionally invested in committing their time, talent, and energy to adding value to their team and advancing the organization’s initiatives.

This means that the majority of employees show low overall engagement. Workplace productivity was low and employees and organizations are not keeping up with workplace demands fast enough.

More Gallup research shows that employee disengagement costs the United States upwards of $550 billion a year in lost productivity. As employee engagement strategies become more commonplace, there is an amazing opportunity for companies that learn to master the art of engagement.

Jacob Shriar, in a piece on OfficeVibe, tells us that

  • Disengaged employees cost organizations between $450 and $550 billion annually.
  • Highly engaged business units result in 21% greater profitability.
  • Highly engaged business units realize a 41% reduction in absenteeism and a 17% increase in productivity.
  • Highly engaged business units achieve a 10% increase in customer ratings and a 20% increase in sales.
  •  Companies with engaged employees outperform those without by 202%.
  • Customer retention rates are 18% higher on average when employees are highly engaged.

These statistics are just the beginning of why employee engagement is so important.

Why Is Employee Engagement So Important?

The term “engagement” has been used so often and in so many different situations that it’s become hard to define. Many people think it means happiness or satisfaction, but it’s much more than that.

According to Gallup, who has been collecting and measuring employee engagement data for nearly 20 years: “Though there have been some slight ebbs and flows, less than one-third of U.S. employees have been engaged in their jobs and workplaces.”

Imagine if every employee was passionate about seeing the company and its customers succeed. The only true way to ensure that your customers are well taken care of is by taking care of your employees. This is known as the service-profit chain, a concept first introduced by Harvard Business Review in 1998. It’s still as relevant today as it was then.

Profit and growth are stimulated primarily by customer loyalty. Loyalty is a direct result of customer satisfaction. Satisfaction is largely influenced by the value of services provided to customers. Value is created by satisfied, loyal, and productive employees. Employee satisfaction, in turn, results primarily from high-quality support services and policies that enable employees to deliver results to customers.

The service-profit chain is the flow from the culture you create to the profits you generate and every step in between. The key is to start internally. When you create an environment where employees are happy, productive, autonomous, and passionate about what they do, they’ll provide better service to your customers.

That amazing service will create many loyal customers, leading to sustainable growth and profits. That’s why it’s important for every leader in an organization to understand the service-profit chain and how each step impacts the other.

Key Employee Engagement Strategies

Organizations need to pay attention to specific priorities to engage employees. Employees are more likely to become truly engaged and involved in their work if your workplace provides these factors.

Employee engagement must be a business strategy that focuses on finding engaged employees, then keeping the employee engaged throughout the whole employment relationship. Employee engagement must focus on business results. Employees are most engaged when they are accountable, and can see and measure the outcomes of their performance.

Employee engagement occurs when the goals of the business are aligned with the employee’s goals and how the employee spends his or her time.

The glue that holds the strategic objectives of the employee and the business together is frequent, effective communication that reaches and informs the employee at the level and practice of his or her job.

Engaged employees have the information that they need to understand exactly and precisely how what they do at work every day affects the company’s business goals and priorities. (These goals and measurements relate to the Human Resources department, but every department should have a set of metrics.)

Employee engagement exists when organizations are committed to management and leadership development in performance development plans that are performance-driven and provide clear succession plans.

When businesses actively pursue employee engagement through these factors, employee engagement soars to a ratio of 9:1 employees from 2:1 employees with concurrent improvements in the business success.

Employee Engagement Examples

There are of course many ways to show your employees they are valued, and to keep them focused and engaged on company success. According to Forbes, there are certain items in the benefit package that will help in creating employee engagement:

  • Health Insurance
  • Company Parties (social engagement)
  • Gifts (new babies, appreciation luncheons)

Employees go home to different roles–parent, caregiver to a loved one, a church or civic leader, spouse, bandmate, freelancer, artist, neighbor–and the people they are closest to impact their lives and perspectives about work in meaningful ways. Acknowledging those relationships and showing they are a priority will increase employee engagement.

How to Improve Employee Engagement

In a recent article in Forbes, Brent Gleeson, a former navy seal and successful businessman, gives solid advice on ways to improve employee engagement.

When managers are engaged, their team members can confidently state the following:

  • I know what is expected of me and my work quality.
  • I have the resources and training to thrive in my role.
  • I have the opportunity to do what I do best – every day.
  • I frequently receive recognition, praise and constructive criticism.
  • I trust my manager and believe they have my best interests in mind.
  • My voice is heard and valued.
  • I clearly understand the mission and purpose and how I contribute to each.
  • I have opportunities to learn and grow both personally and professionally.

The steps for improving engagement aren’t complex, they simply must be prioritized. This means engagement must be a core function of the manager’s role. The following steps can help the manager to accomplish this.

Step 1 – Put Everyone in the Right Role

Again, get the right people on the bus and make sure they are in the right roles. This means that all talent acquisition and retention strategies have to be aligned with meeting company goals.

Step 2 – Give Them the Training

No manager or leader can expect to build a culture of trust and accountability — and much less improve engagement —without setting the team up for success. This means providing the proper training and development while removing obstacles.

Step 3 – Task Meaningful Work

Engaged employees are doing meaningful work and have a clear understanding of how they contribute to the company’s mission, purpose and strategic objectives. Again, this is why they first have to be placed in the right role. I’ve made the mistake of hiring great talent just to get them in the door – but didn’t have a clear career path or role for them. If you don’t sort those details out quickly, they will leave.

Step 4 – Check in Often

The days of simply relying on mid-year reviews for providing feedback are long gone. Today’s workforce craves regular feedback — which of course leads to faster course correction and reduces waste. Use both formal and informal check-in strategies — and use them every week.

Step 5 – Frequently Discuss Engagement

Successful managers are transparent in their approach to improving engagement — they talk about it with their teams all the time. They hold “state of engagement” meetings and “engage” everyone in the discussion — and solutions.

Again, these principles are not complex, but must be prioritized. Companies that get this right will drive greater financial returns, surpass their competitors, and easily climb to the top of “the best places to work” lists.

Are Your Employees Engaged?

Employee engagement is critical to the success of any business. When a business has engaged and invested employees, it is in their best interest to protect the productivity and profitability of the business, and the image the business has in the community. Engagement also results in employee retention, which saves the business money in turnover and training. There is no downside to getting your employees engaged and invested in your business.

John Hawthorne is a health nut from Canada with a passion for travel and taking part in humanitarian efforts. His writing not only solves a creative need it has also lead to many new opportunities when traveling abroad. This article was originally published on Floship.com, you can read it here.

5 Small Investments you Can Make to Boost Employee Engagement

5 Small Investments you Can Make to Boost Employee Engagement

by | Jan 18, 2018 | Management, World of Work

Employee engagement is not just another buzzword or a metric that your organization needs to keep track of. It is all about creating a work space, where your employees can get up in the mornings and say, “Great, I’m going to work. I know what I’m going to do today. I’ve got some great ideas about how to do it really well. I’m looking forward to seeing the team and helping them work well today”. (source)

The best definition we could find on what employee engagement really means is this, “Employee engagement is a workplace approach resulting in the right conditions for all members of an organisation to give of their best each day, committed to their organisation’s goals and values, motivated to contribute to organisational success, with an enhanced sense of their own well-being” (source: engageforsuccess.org).

The process of employee engagement is a continuous one which begins during the on-boarding process – right at the outset, and carries on. And to really make employee engagement a continuous process, one of the best ways to go about it is through making small investments, which make a big difference.

Here are five proven ways of increasing employee engagement, without having to spend any money (or atleast not much).

  1. Creating a culture of Mentoring

    Bringing about changes to the organizational culture is often hard, but without a doubt, one of the best ways to bring about the change you want to see in your organization. Having a culture of mentorship or mentoring, within your organization is a great way to boost employee engagement. When your employees know they can reach out to trusted mentors within the work place to help them address issues they are facing at work, or help them be more productive with valuable guidance, it provides a definite boost to the levels of their engagement.

  2. Recognizing the value of Mental Health

    Making investments in caring for your employees’ mental health should not be an exception anymore, but a rule. While countries in the West have started taking mental health awareness and interventions with more seriousness than before, India though picking up pace, still has a long way to go. To let your employees know that their mental health comes before anything else, is an indispensable way of you showing that you care. And a place where employees feel cared for, will be a place they will devote their 100% to. Have you read our previous blogs on metal health yet? And do you believe that mental health should be your number one resolution for 2018? If you don’t, maybe you should have a look at this.

  3. Recognizing the value of Feedback

    Without a system of regular and consistent feedback, there can be no way for employees to know how they are faring. Their growth may be stunted, and despite possessing talent and skills to mature within the organization, they might begin to slack. This is the very reverse of what employee engagement aims for. Creating a system of feedback goes a long way in ensuring employee and employer satisfaction. Issuing constructive and timely feedback helps employees to stay focused and confident to do their best.

  4. Recognizing the value of Flexibility

    By giving your employees the gift of “choices”, you move towards creating a workplace with significantly higher levels of employee engagement. Making space for flexible conditions for work is a powerful way of boosting productivity. For example, many organizations still associate the option of working from home as one that triggers lower levels of productivity. Research though, has shown results quite contrary to this assumption.  Allowing your employees flexible schedules, and the option of working from home could actually be a win-win situation for both parties!

  5. Implanting Trust

    Trust perhaps, is the single most important investment you can make in your employees. Think back to the process of recruitment you may have, and you will realize how most of the process was in fact a scrutiny of whether you can trust the job you want to give out, at the hands of the person you are looking to hire. It is the same trust that must be preserved and nurtured after you complete the process of hiring and the recruit glides into his/ her role. Matters like choosing to delegate (and then letting go until the completion of the task!), being open to new ideas, being open to flexibility and feedback, are some small yet significant ways that help you show that you trust your employees. Could there be a better way of keeping them engaged, and happy? We think not!

Still wondering what employee engagement is all about?

Your employees can said to be truly “engaged”, when they are committed and motivated towards what they have been entrusted to do. And it leads to happier workplaces and happier bottom-lines.