Posts Tagged ‘productivity’

Effectively Investing Money to Motivate People

Tuesday, May 25th, 2010

As the economy gains momentum, what is the most effective area for companies to increase spending on employees?

Companies often default to spending money on financial incentives, partially because they believe money is what counts to employees. In the McKinsey Quarterly article “Motivating People, Getting Beyond Money”  (http://bit.ly/93Dj87) their survey indicates that companies should seriously consider non-financial incentives. The three keys areas the survey recommends to focus on are:

  • praise and commendation from their manager
  • attention from leaders, such as one-on-one coaching
  • opportunities to lead projects or task forces

In the survey all three of these areas were considered to be more effective in motivating people than any of the financial compensation options.  Plus the non-financial options do not increase the long term cost of employee benefits allowing companies to remain more flexible should the economy sputter it’s way to a recovery.

What gets in the way of companies implementing the non-financial options to engage and inspire employees?  My observation is that there are three

reasons why companies don’t invest more heavily in the non-financial options:

  • It is difficult to tangibly measure the immediate impact and long term value of having higher quality connections with employees.
  • Management has so many other immediate short term tasks on their to do list that undertaking a longer term strategic program of increasing contact with their people gets pushed to the side.
  • No one ever really taught us how to communicate and as managers we don’t know how or don’t feel comfortable giving recognition or having one-on-one conversations with our direct reports.
Impacts of Coaching

Impacts of Coaching

An earlier post (http://bit.ly/baLMhE ) indicated that  the average return on coaching is 6 times the investment.  This is usually a short term return and does not take into account the long term learning benefit that the person being coached gets to repeat year after year.  Nor does it take into account the long term learning benefits that a manager may generate with their direct reports.

I believe learning how to communicate and coaching the people that report to you will give your company the best return in the long run.  Unfortunately it  is not the easiest or fastest answer.  It requires a commitment on the part of management to learn a new skill, practice and take the time to connect with their people.

With an investment in non-financial initiatives now companies could exit the down turn stronger than they entered it.

Jacque

Walking our Talk with Working Easy

Wednesday, April 7th, 2010
Watching the Coast Guard work while we work.

Watching the Coast Guard work while we work.

Beyond publishing this blog we really are committed to working easy 4 life balance.

If you’ve been following our posts you’ve probably noticed that we like having fun too.  Sometimes this means being flexible and doing things outside the box of running a business.  When we formed our strategic alliance we decided to have  regular meetings, and we’ve been really consistent at sticking to our commitment. It’s such a wonderful way to hold ourselves accountable and stimulate creative synergy.  It’s way more fun than having an internal meeting with me, myself and I.

We usually have our meetings on the phone, which requires each of us to be in our offices – or not….  sometimes one of us is on a cell phone, travelling in another city, or country.  As long as one of us is on the computer to record pertintent notes it works beautifully.  The other day I had another meeting scheduled not long after our call, but it was a 1.5 hr commute away.  I pulled out my blue tooth headset jumped in the car and we continued our meeting.  It was an extraordinarily productive brainstorming session and we mapped out the next steps for our strategic alliance for the coming months.

What was really interesting to me, is my commute time is usually very unproductive, other than getting me where I need to go.  I often get brainwaves for building the business, but seldom record the ideas.  The better ones will run in the background of my consciousness, adding to the internal to do list and then to the heap of things not done.  Ever notice how we can conjure up far more activity in our imagination than we can ever accomplish in real time?

Anyway, what was exceptional about this drive, was Jacque was on the other end of the phone, to capture our creative ideas.  We now have topics for speaking engagements, the next few issues of our newsletters and Catalyst-LIVE radio shows .  And it was all incredibly easy and fun!

I highly recommend working collaboratively, or having a business building buddy.  It really does make work easier.

Coaching Generated Big Returns

Tuesday, March 2nd, 2010

The following is a recent quote from Fortune Magazine:

“Of the monetary payoff from the coaching they got, these managers described an average return of more than $100,000, or about six times what the coaching had cost their companies.” Fortune, 2/19/01,

– “Executive Coaching — With Returns a CFO Could Love”

In my own work I have also found this to be true.  Some companies that I have worked with have generated astronomical returns on investment of 2,500%.  I believe there are some key factors that determine if a company will be able to generate an ROI of at least 600%.

  • The most senior person in the company or group has participated in coaching and is now a role model for others who take coaching.
  • Several other people in management also participate in coaching.   The more people on the leadership team that have received coaching the more successful the program.
  • Team development initiatives are taken to foster open communication and collaboration across the company or group.
  • Managers adopt a coach approach and consistently meet with staff in both group meetings and one on one.
  • Finally you need to stay the course and keep using and applying what you have learned.  As soon as you go back to your old ways, so will your results.

While doing the work with these companies, staff came to regard their organization as the best place that they ever worked.

Companies or groups within a company that have maintained these results for the longest period of time have consistently practiced doing all of the above.  It is a long term game.

Jacque

Work Easy Interview with Cindi Pree, Virtual Business Partner

Friday, February 26th, 2010

Upon meeting Cindi Pree of the Kulshan Group it was quickly apparent we shared similar views on working easy for life balance. Having started and operated a few businesses, she now shares her knowledge and expertise as a Virtual Business Partner. Visit Cindi at www.kulshangroup.com

Here’s her story.

Working Easy is huge for Cindi, but it hasn’t always been the case. A one-time home school mom, on top of all the usual routines, she, “spent many years running – berating myself for not getting enough done. That’s not working easy.”

After a divorce she decided to find a happier life, and came to understand there was a healthier way to work and live too.  Her search led her to meditation and spirituality. Jill Bolte Taylor’s “My Stroke of Insight” showed her how being disconnected from her right brain was tied into working hard. She gave herself permission to play – meditate, paint, even do nothing.

Cindi realized it wasn’t necessary to be frantic to be productive and she wasn’t going to do it anymore.

Past work with realtors working east coast hours and weekends, made Mondays hell. We worked frantically for 3 days to catch up, she says.  “Eventually I recognized a pattern though; we were always caught up by Wednesday and she developed a new mind set.  “It’s going to be OK,” she would tell herself and her staff.

Studying the teachings of Abraham she learned that time is a perception, it’s a human construct. The way we divide up the day is made up.  We have all kinds of time; it’s how we use it that counts. She alludes to Steven Covey’s Big Rock story. We need to decide what our big rocks are. “For me it used to be getting the work done. Now the priority is how I feel when I am working.  I continuously check in, moment to moment, and ask how it feels?”

Now if she puts in a long day it’s because she has done her ‘gut check’ and she’s doing it because she wants to, not because someone says she should or has to.

When asked what supports her in working easy she says, “It’s really important to know your strengths and weaknesses – analyze your work style and make sure what you’re doing works for you. Because I’m a linear person I look at and incorporate tools, systems and procedures, and create short cuts.”

Drawing on Lean Manufacturing, Kaizen and 6 Sigma principles, she strives for efficiency.  She asks Five Whys: ask yourself why you are doing something five times and you’ll get to the core of it.  If your answer is ‘because this is the way I’ve always done it’, or ‘because someone told me to’ there is likely room for change.

She looks for ways to be productive, “If I am more productive here, then I have more time to play!”

She always asks, “Does it benefit me? Is there a better way? Is there a better tool?  If I’m using a tool, am I using it the best way?” Fewer mouse clicks to complete a task shaves off time. Even if it’s a few hundredths of a second it adds up every time you repeat it

Are you sending the same kind of documents often? Create templates. Looking for the same website over and over again? Make shortcuts. If you are reaching across the desk to grab something many times a day, move it to where it is handy. Keep visual clues, and use color coding to track projects.

Cindi’s recommendation: “Get in the habit of finding something to change before you start each day. Once you start doing this and you see the increased ease you will find more and more ways to streamline. Even after all the years I’ve been doing this I still find myself asking why I’m doing things a particular way.”

She also recommends spending a little money to have someone show you how to use the tools you have efficiently. We get bombarded by new tools all the time, but we don’t need to run out and buy them all. Bottom-line: A mind set of looking for ease has to come first, otherwise implementing the time-saving real world stuff just leaves room to fill up with a longer ‘to do’ list.

I tried Cindi’s tip of starting my day with changing something.  I really like this and plan to continue!

Lynne