|New Year, New People Strategy |
By Mark Mitford, Managing Director at
HR Catalyst Consulting
We know, chances are you have one or more New Year’s resolutions you have committed to for 2017. We hope you are still keeping those resolutions and moving towards your goal(s)!
Let’s migrate over to your business now…
What resolutions have you made regarding your business? Perhaps it’s around more work life balance, or becoming a more effective leader. Our challenge for you is to come up with a people strategy for your business. OK, your next question is going to be, ‘where do I start?’ That’s what this article is about, so don’t panic and keep reading.
Three key people processes that may need a “tune up,” a major overhaul, or perhaps just getting started.
- Invest in your leadership team by training them. At least 95% of high-performing companies have one thing in common – good leadership. Whatever training you put into your leaders will pay off exponentially in your top and bottom financial line success.
If you can afford formal leadership training great, there are plenty of options for good outside experts to support your needs, we can help you with ideas there. If you don’t have the luxury to afford an outside expert; you can start small, have your leadership team read a good leadership book each month or each quarter.
Have your leaders all read the same book and then spend 1-2 hours per month discussing “golden nuggets” they gleaned from the book and most importantly, how they are going to apply those “golden nuggets” into their leadership style.
Here’s a few to consider putting on the list.
- The Oz Principle
- Good to Great
- The 7 habits of highly successful people
- Create a talent management process for your employees. What the heck is a talent management process? It’s actually simple, yet complex.
Every company, regardless of size, has a performance curve of top and bottom performers. Yes, we did say every company. You have a top 25% of performers and a bottom 25% of performers. The top 25% drive your business success, and of course, your bottom 25% slow down your business success.
If you move the performance level of your lower performers higher, that will drive business success. Also, candidly, if you exit lower performers you can upgrade your talent and find higher performers to replace them. Discussing the performance level of your staff on a quarterly basis is not only a good thing, it will also help you make good people-decisions that will impact your business’s success.
- Hold regular review or “touch base” meetings with employees; monthly or quarterly meetings with employees are great.
- companies are doing away with the annual review process and moving towards more frequent conversations around performance
- create a forum to talk with your employees and listen to their needs, leaders should do more listening vs. talking
- ask employees what help they need from you to be successful
- ask them what barriers exist internally that stop them from doing their jobs better, if you listen to your employees, they will share great ideas with you
We challenge you to implement all three of these initiatives above in the first quarter of this year!
If you need help, please feel free to reach out to us to have a discussion on how to get started.
Whatever your HR needs – whether putting together a compliant employee handbook, acquiring a new business, helping you lower your employee turnover or going through a major transformation within your company – we can support your needs. We are available for retained or project-based engagements. No HR need is too big or too small.
Feel free to reach out to Mark via email if you’d like more information.