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Five Skills Key to Successful Business Operations Management – You Could be Great at Operations if..

Five Skills Key to Successful Business Operations Management – You Could be Great at Operations if..

by | Jul 15, 2021 | Business, Business Operations, Career, Leadership, Management, Managing Yourself, Performance, Productivity, World of Work

You cannot be a good business leader unless you thoroughly understand the business operations in your organization and how it links to its performance. I have noticed one big reason business strategies fail – it is the unbelievable reality that senior leadership many a times doesn’t understand the basics of their business. How it runs and what makes it run. An operations mindset is extremely critical for all leaders – No matter how good you are at framing strategy; it also has to get executed successfully for an organization to succeed. This is where the business operations team can play a big role, by not only providing insights to the leadership on the ways to improve business performance through profitable growth and strategic management of costs and risks but also to reduce the gap between strategy and execution through disciplined process implementation. Quite a few big buzz words there. But it boils down to one thing – to succeed in business, you have to understand and be good at operations. I strongly believe an operational mindset is a mental “muscle” that can be developed. For all those who want to develop this muscle or are thinking of a career in business operations, this post is for them.

So without further ado, here are the five top skills/loves that I believe are must-haves for those who want to enhance the performance and productivity of organizations through understanding and improving their operations:

Must-Have #1 – You love people:

Lee Iacocca said:  “In the end, all business operations can be reduced to three words: people, product and profits. Unless you’ve got a good team, you can’t do much with the other two.” Understanding people across multiple functions and roles and leveraging their strengths is extremely important to meet objectives – in an operational role where you have to work mainly in a matrix structure where you have lots of responsibility but not always the required hierarchical authority, this becomes paramount. You must know how to connect with people and energize and enthuse them. Communication skills, beyond the verbal and the written, the ability to listen and read between the lines is an useful asset to align people to your goals. And all this is not possible unless you have a genuine interest and love for people.

Must-Have #2 – You love numbers:

Does the idea of deciphering lots and lots of rows and columns of numbers spread across sheets give you the shivers ? As they say, the devil lies in the details and to be good at operations, making sense of numbers must excite you. Plenty of common sense plus and an ability to derive meaning out of the different ways numbers can be combined or dissected to arrive at the right performance metrics for early warning signals for the business as well as measuring the results is part and parcel of the operations role. Knowing your numbers and the different levers that can be applied to them makes you the master of the game.

Must-Have #3 – You love wearing multiple hats:

In operations, you have to be put yourself in the shoes of different functions on a day-to-day basis – sales, IT, finance, business, delivery – to be able to understand the requirements from all perspectives and execute on it. A specialist in operations with a generalist bent of mind to connect all the dots in the organization for the right solutions.  You have to become the subject matter expert in many things at the same time. Quoting from an article by Vikram Mansharamani in HBR – there appears to be reasonable and robust data suggesting that generalists are better at navigating uncertainty. Professor Phillip Tetlock conducted a 20+ year study of 284 professional forecasters. He asked them to predict the probability of various occurrences both within and outside of their areas of expertise. Analysis of the 80,000+ forecasts found that experts are less accurate predictors than non-experts in their area of expertise. Tetlock’s conclusion: when seeking accuracy of predictions, it is better to turn to those like “Berlin’s prototypical fox, those who know many little things, draw from an eclectic array of traditions, and accept ambiguity and contradictions.” Ideological reliance on a single perspective appears detrimental to one’s ability to successfully navigate vague or poorly-defined situations (which are more prevalent today than ever before).

Must-Have #4 – You love solving puzzles:

Providing smart and creative recommendations for business process improvement is one of the key areas in which business operations team can be key contributors. As an operation person, you have to identify the problems, dig for knowledge in the vast amounts of available data and then analyze it to arrive at the areas of focus. As per research by Gartner, through 2012, 80% of organizations will struggle to recruit the talent required to meet their business analytics objectives. This needs an inquisitive mind, a persistent approach and deduction skills. If you are a crossword or Sudoku fanatic, you are in the right “zone” here 🙂

Must-Have #5 – You love WORK:

Back end work, strategic work, boring work, last-minute deadline work, grunt work,  thinking work, transactional work, delegated work, filling in for someone else work – your work landscape in an operations role will constantly be changing and switching. So, you must have a great love for work by itself and in itself in all its myriad shapes and forms. If you are particular about doing only one type of work and consider certain types of work below you – this is certainly not the role for you. The duties and responsibilities in this role are fluid and are different from company to company or even business head to business head. I have rarely across a defined job description that remains constant over a period of time in my career. So, your guiding principles and measuring stick for your work should be based on what you want to achieve, not what type of work is needed to get there. A passion for work coupled with an ability to set your own standards for excellence is crucial in this role.

In addition to the above, a  business operations person must be able to exude confidence, have conviction and be firm on what he/she believes is the right thing to do. It is only then that by focusing on some of the points where structure, processes, people and systems intersect, and engaging and influencing all the stakeholders involved to work on those critical junctions, the business operations team can release benefits that ripple across the organization.

What other skills do you think are necessary for successful business management and operations? What have I missed? Please share your experiences below. I would love to hear and learn from you.

Image courtesy – http://www.flickr.com/photos/michaelheiss/3090102907

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/

HR Essentials – 5 Things to Have in Place

HR Essentials – 5 Things to Have in Place

by | May 4, 2018 | Management, World of Work

An HR department is indispensable to an organisation – regardless of how big or small the organisation is. While the overall nature of the role and responsibilities of an HR team remains the same across organisations, the finer details depend on the organisational principles. Aspects such as recruitment, training, professional development, employee relations, compensation and benefits, and labor law compliance form the core of an HR body. How efficient the HR team is has a direct influence on the efficiency and success of your overall organizational goals.The reason being, an HR department works closely with the employees who in turn are the lifeblood of any organization.

Regardless of what the details are of how your HR department functions, having these five things in place improves the efficiency of your HR department in a significant manner.

  1. Keeping Pace with New Technologies

    Constantly revising your HR strategies based on the latest technologies sounds tedious, however it is the very opposite of that. Keeping pace with the new technologies enables you to find more efficient ways which help you do what you do better, and faster. For example, using Artificial Intelligence for the initial process of screening potential candidates will save you a lot of time, as against screening all applications manually. Investing in new technology helps your HR staff become more productive and also gives them the time to focus on more important tasks.

  2. Integrating Online Systems

    Instead of having several independent applications to manage various tasks, it is much more efficient to integrate it all into one place. For example, a separate system for payroll management, another for employee review, or time management – managing these independently takes up much more time. By investing a little bit in a customized software, you will increase the efficiency of your tasks related to staff management and internal communication. This makes transacting every day business smooth.

  3. Having a Brand Profile for Recruitment

    The HR department plays a key role in the recruitment processes of any organization. While the individual departments will focus more on the skill set of the potential candidates, it is up to the HR department to source candidates whose ethos and principles match those of the organization. This is important in creating the kind of work culture you aspire to have in your organization. And towards this end, it is important to have a brand profile based on the guiding principles and goals of the organization.

  4. Having a thorough and fair performance review system

    In order to help your employees stay motivated, inspired and productive, you have to invest time in developing a thorough and fair performance review system. The only way to help your team do their best is to apprise them of their performance on a regular basis. Having a fair system of performance review is as important as having a system in the first place. Creating a space which encourages dialogue is an important aspect.

  5. Paying attention to the finer details

    It is always the finer details that make all the difference to the work environment of an organization. Taking a deep dive into the existing HR structure and changing things for the better is the best thing you can do for your organization. For example, do you still have outdated HR policies like a no reference policy, or the bell curve performance review policy, or an insensitive bereavement pay policy?  Have a look at the five outdated HR policies that need to go. Are your employees protected against sexual harassment? Do you have a POSH committee in place? How gender sensitive is your organization? These are all things that an HR department needs to address. And these are the details that set an organization apart from the rest.

Have more things to add to this list? Share with us! The best part of our day is definitely reading what you write to us!

Making Your Remote Employees Feel Valued

Making Your Remote Employees Feel Valued

by | Apr 10, 2018 | working from home, World of Work

Work from home is becoming an increasingly viable option – for both employees as well as employers. With this development, there is a need for employers to pay more attention to making the “virtual work space” more conducive, and employee friendly. One of the most important aspects which has a direct impact on the productivity levels of your employees is how valued they feel. This can be an especially difficult task to achieve, and to measure when your connection with your employees is through remote access. But is it really?

You would be surprised the small ways in which you can make your Remote Employees feel valued. In this blog post, we speak about some elementary ways which should define the norms of every work place which encourages Work from home/ remote spaces options.

  1. Clarity in Communication

    This aspect is a crucial unit for developing a healthy relationship with your employee, and for ensuring that they are at all times aware of their deliverables. One of the main concerns remote working raises is the fact that responsibilities, goals and outcomes are not streamlined meticulously – unlike in physical work environments. When this happens there is the danger of your employee under performing for no fault of his/her, which means you lose out on the valuable skill set of someone you have   invested time in to select and recruit. Being clear in communicating goals, outcomes and responsibilities helps employees feel more engaged, and in sync with their work, which in turn has a direct impact on the quality of work they churn out.

  2. Checking in

    Really one of the easiest and most basic way of showing your employees that you care. That you value your relationship with them beyond the contract of employment. Once again, since we are speaking about work in a remote environment, checking takes just a bit more effort than it would if it were a physical office. That, however cannot be an excuse for not keeping in touch with your employees. Establishing a system for this is a great way of making sure that you check in regularly. For example, every month schedule one day for a team call (if your team is spread out), and one day for individual calls. There are so many ways you can do this, and with just a little bit of thought, you can truly help your employees be enthusiastic about the work they do. And if you have a team of enthusiastic employees who feel valued, you’re a winner.

  3. Be there for them

    A good manager has an open door policy, and his team is aware of this. This applies even to teams which work remotely. In the context of the blog post, one could safely argue that this aspect is especially important to have your remote employees feel valued. Operate with a degree of decentralization, especially when it comes to your team having access to you when they need you. If your team comprises of employees who work remotely, because of an absence of a traditional physical work space they might need to reach out to you more often than other ‘regular’ employees. In which case, take care to stress on the fact that you are available when your team needs you. No better way to set precedence about this other than by leading through example.

If we summarize all the three things we’ve said above, there is one main takeaway – communication. The quality of communication between colleagues is something that determines the overall work environment – even when the work environment is virtual. And we’d say, especially when the work environment is virtual. While these small efforts wouldn’t cost you anything, bypassing them surely would. The quality of work you expect, is directly proportional to how motivated your team feels to deliver the expected quality. And feeling motivated is a direct by-product of feeling valued.

Do you have a remote team and are you proud of your team management techniques? Share your story with us and we will share it with the world!

 

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.