If You Care About ROI, Follow This Strategy

When you measure progress within your organization, you don’t do it by checking off each individual activity done by your team. You do it by looking at how well you’re accomplishing your overall company goals. So why do we often approach projects from the opposite direction?

A common mistake that leads to loss of ROI and efficiency stems from our human need to get swept up in the details. Now, there’s nothing wrong with getting all the details right, but details shouldn’t be first in the pecking order of priorities.

For progress to happen, you need to measure your activities. But without goals and a strategy, you can’t measure anything accurately. If you don’t have a solid plan of alignment, you won’t prioritize what actions and details need the most attention.

The flaw in quick solutions

As we’ve all learned in the last year, crises happen, and they can happen overnight. Organizational pivots can be spurred by internal and external events within your market, industry, or location. With varying levels of success, businesses responded to shifts caused by the pandemic by implementing new technology, changing processes, and rearranging priorities.

Even outside the pandemic, it’s incredibly easy for organizations to implement “solutions” to their problems, creating more friction. For instance, many organizations struggle with data duplication because they use different systems to track their prospecting and sales, marketing, and client management. The result is a chaotic mass of unusable data that provides extremely limited information to those who need it.

Here’s how to ensure your organization avoids this type of costly mistake by changing your approach to problem-solving.

Stepping back

Before you decide to implement a solution for a problem, start by following these steps.

1. Identify your core goal

Your goal should be in the context of the result you’re looking for, not the solution. For instance, “We need a system to help us manage our prospecting” is an example of a solution statement. A goal statement looks more like, “We want to make more informed decisions around how we manage our prospecting and have a smoother handoff between prospecting/sales and client management.” Starting with the goal statement stops you from identifying possible solutions before you’re ready and keeps the door open to make connections between this goal and other related goals.

2. Review department alignment

If you want to save time and resources, spend time reviewing how this goal might affect other departments; specifically, determine if it aligns with issues cropping up in those departments. In the case of data duplication, if an organization approaches marketing, sales, and client management as separate tasks, they miss what it’s all about: the entire customer experience.

Suppose they approached this issue with a broader lens. In that case, they could implement a tool to combine each of these activities under one system, resulting in no data duplication and a smoother transition between the customer journey stages.

3. Identify your KPIs

If you’re interested in measuring how well a solution is working (which you should be for several reasons, ROI aside), then identify core KPIs you can use to track a tool’s success. Keep them measurable, attainable, and specific.

To continue with the example used above, KPIs for this type of solution might involve:

  • Increased customer retention rates
  • Increased closed deals
  • Decreased time for client onboarding

Refer back to your goal statement to help you identify the results you hope to achieve.

Don’t skip ahead

If you find a new tool that seems excellent, great!

But stop before implementing it.

It’s easy to get excited about a solution without first clarifying your goal. Who doesn’t like to nerd out about new solutions? But if you don’t have processes in place to stop new solutions from being implemented before completing these steps, you’ll end up wasting time, money, and resources.

These steps should be followed for nearly every activity, process, and solution your organization implements. So even though you’re excited, stop, take a step back, and make sure you cover these bases before running ahead with your new solution. The results will be far more impactful, efficient, and sustainable.

 

Photo by Flamingo Images

Content provided by Q4iNetwork and partners 

Four Ways to Fight Burnout

Even before the pandemic, employee burnout was a top concern for employers. The Mayo Clinic describes burnout as “a state of physical or emotional exhaustion that also involves a sense of reduced accomplishment and loss of personal identity.” It manifests in many ways that are quite literally dangerous for employees. Symptoms of burnout include insomnia, fatigue, heart disease, vulnerability to illness, and death.

So, let’s talk about some simple and practical approaches to fighting burnout in your workplace. First things first, employers need to take responsibility for leading the fight. It’s not your employees’ job to fight burnout on their own. Burnout is often caused by systemic issues in a company’s culture, leading to overworked employees who don’t have the time or resources to manage their workload.

It’s best to approach the fight from all angles and not assume there is a one-size-fits-all solution for your company. Here’s where you can start.

1. PTO and the benefit of benefits 

MetLife’s recent study found that 86% of employees considered health insurance a “must-have” and ranked comprehensive employee benefits as one of the most critical drivers of employee well-being. The same study also found that comprehensive employee benefits were a driver for increased employee productivity and loyalty. 

Ensure you’re giving your employees the support they need to take care of themselves mentally and physically. Consider offering them a week’s more PTO than you did the previous year and see what it does for employee engagement, productivity, and retention.

If you’re not sure this is the right move for your business, make an experiment out of it. Record your numbers for retention, engagement, productivity, and wellness for the previous year, and compare them after one year of offering your new plan.

2. Workload monitoring

Providing a reasonable workload is a leading factor in decreasing employee stress and burnout. While this may seem obvious, it can be a tricky task to work out exactly how much work is too much (or not enough) for your employees. Do your research and develop a strategy for identifying when workloads are too high and when they need to be decreased and spread out.

Involve your employees in this process. They can help you gain insight into the ebb and flow of their workload and inform you how to best respond to the challenges they face. Make sure to keep an open dialog between employees and managers and encourage honesty.

3. Human management

This leads us to understanding the different causes of burnout and how to address them. While burnout is often a direct result of a failure on the company’s behalf to manage employees strategically, sometimes it results from external issues.

The year 2020 is an excellent example of how employees may deal with the same workload they always have but struggle to keep up due to added stress from their environment, like:

The minute you ask an employee to put aside their needs, you set your company and your employee up for failure.

Design a culture that recognizes productivity naturally ebbs and flows along with our ability to manage stress, workload, and well-being. Allow your employees to be human and open about their challenges. If an employee feels like they can take a day off or ask for extra help on a project without retaliation, their stress level won’t rise, and they’ll be better equipped to get back on track and manage their workload like the dedicated employee they are.

4. Recognition

MetLife found that employee recognition was the ultimate driver in increasing productivity, engagement, and loyalty, and decreasing stress, burnout, and depression. A simple “thank you” or “great job” can be the difference between an employee feeling burned out and feeling accomplished. There are many creative ways to celebrate and acknowledge your employees, so there isn’t a good excuse for not doing it.

Looking forward

This may be an old topic, but it’s never been more relevant. As you move into 2021 and the decade beyond, you must maintain a sincere effort to help your employees lead healthy lives at work and at home. Fighting burnout will save you money, protect employee health and well-being, and give you both stronger legs to stand on.

 

Photo by ANDRANIK HAKOBYAN

Content provided by Q4iNetwork and partners 

Getting the Competitive Advantage: Optimizing HR

Your HR team worries about a lot of things.

They worry about compensation, compliance, retention, engagement, attraction, productivity, company culture, and more. Over the past few years, HR has gotten more and more attention as leaders recognize its ability to drive results and growth.

If your C-Suite hasn’t yet, it’s well past time to start strengthening the ties between HR and your leadership teams. With the right direction, HR can provide insights into different levels of your organization that direct managers, individuals, and high-level leaders can easily miss.

Uncovering the competition

A large part of attracting and retaining top industry talent is standing out among your competitors. This requires an intimate knowledge of the different factors employees care about right now, not what ten years ago.

HR has a unique window into this subject. They have access to internal team reviews, the benefits you offer, and professional development plans. They’re there for interviews and can track what questions candidates ask about the culture, what you offer, and how your business is run.

All this is a roundabout way of saying HR has the hard data you need.

If you’re wondering why a clutch of employees all left at the same time or why you don’t see a strong ROI on your benefits plan, your HR team has the answers in substantial, verifiable numbers. Their insight can be invaluable when deciding what perks to offer or how to develop company loyalty and engagement.

Setting you up for success

While HR may have a lot of insight into your organization’s critical parts, it’s essential to remember they are busy. Without a concerted effort on behalf of the leadership, their wisdom can go unspoken, unused, and wasted. To make sure you don’t waste your opportunity for development, take these steps.

Start the conversation

At the beginning of every year, sit down with your HR team and start a high-level conversation about your organization’s current state. Ensure you hit the major talking points: benefits, employee engagement, retention, compliance, and culture. Get a gauge on where they think you are on the competitive landscape. Think about and ask such questions as:

  • What are your competitors offering?
  • Who have your employees left your organization to work for?
  • What do employees care about currently?
  • What are the trending challenges employees are struggling with?

Use this conversation as an opportunity to brainstorm ideas, solutions, and possible challenges. Identify three high-level, long-term goals you have.  Break those goals down into actionable, measurable, short-term goals to focus on throughout the year.

Revisit, review, repeat

Set quarterly meetings to review progress on each of these goals. Make sure to set the tone for open, honest communication. Your HR team needs to know it’s okay to talk about these issues because without that confidence, these meetings will be useless. It can help to focus on hard data to de-personalize successes and failures.

Make these reviews about progress and engage and encourage your team’s creativity to solve problems and develop new ideas to help you keep your competitive advantage. Set measurable, SMART goals to create a clear path forward.

Unlock your potential

Since the HR department touches different parts of your organization, its ability to affect change and assess your company’s health can be meaningful. Don’t miss out on this opportunity to gain real insight, gauge where you are in your competitive landscape, and set yourself up for success. Strong leaders understand the need for transparent internal processes for growth, and HR has the insights to get you on the right path.

Together, your potential is more significant than you may think.

 

Photo by Roman Samborskyi

Content provided by Q4iNetwork and partners 

Driving Growth with Purpose

Keeping employees engaged is a constant worry for leaders. There are many ways to address engagement in the workplace. Benefits, company culture, and professional development are some aspects of the employee experience that drive engagement. But if you look at engagement from a personal—even emotional—level, there’s something deeper at play.

Think about the last time you became disengaged with a project. What was the deriving factor behind your disengagement? More often than not, we become disengaged with our work because we feel it doesn’t matter. We become disengaged with our roles when we lose our sense of purpose.

That deep human need to feel valuable, of use, and appreciated—to feel like we matter­—plays a central role in whether or not we give our 100% at work or if we slowly decline and become less and less interested in our contributions.

While creating a supportive company culture, good managers and fair compensation can make a huge difference in employee engagement. It’s important not to leave out this simple yet critical part. You need your employees to feel like they matter to you, your organization, and your customers. 

So how do you do that? Try these steps.

Ask them about their career goals

Whether an employee is just starting or has been with your company for years, engaging them in a discussion around their future and interests can make a serious impact. By doing so, you can:

  • Align their aspirations with your goals for the future of your business. Maybe their interests lie in learning a new set of skills your organization could use!
  • Show them you acknowledge their individuality, path, and personal trajectory outside of your organization.
  • Get them thinking about how they can grow within your company—creating a path to a good future for both them and your organization.
  • Help them realize the work they’re doing will play a part in their future opportunities.

Recognize, recognize, recognize

And the more often you do it, the better.

Did an employee write a great email? Tell them. Did a team complete a project without any hiccups? Celebrate it. Tell your managers to watch the individuals on their teams and identify and celebrate their particular strengths. When people feel seen, they put more intention in their actions. Appreciation goes both ways, so make sure you’re not stingy with yours.

Make your organizational goals personal

A great way to foster purpose is to help your employees see their role from a broader perspective. Engage them in conversations about the future of the company. Ask for their advice and input on how things could be better, and center all of this around your organizational goals. Help your employees see how their role is essential to your organization’s success.

Consider having interdepartmental check-ins where each department talks about how they rely on one another. When your company meets a goal, celebrate your employees for making it happen.  

Be flexible when you can, where you can

Employees have lives outside of your organization. They have families, personal goals, friends, doctors’ appointments, and mental and physical health to manage. So, when an employee approaches you for help, be it flex time, extra time off, or medical leave—supporting them to the best of your ability can make a lasting impact on their loyalty and engagement. They’ll feel valued and taken care of as individuals, and that will translate to how they see themselves as employees.

Some employees expect to be resented for taking time off—and in many cases, it’s true. They fear losing their jobs, their position, and their standing. Show them it’s safe to be human and that you have their back.

It can be challenging to find effective ways to make employees feel seen and valued, but the effort is worth it. It will foster strong, loyal relationships and a sense of value and purpose for everyone. This value will translate into high-quality work, dedicated employees, and a culture and brand that will attract, retain, and drive talent.

 

Photo by Vassiliy Kochetkov

Content provided by Q4iNetwork and partners 

Five Steps to Developing an Innovative Organization

More than ever, we know how valuable a genuinely innovative team can be. Organizations that weren’t flexible enough to find solutions to 2020’s problems have suffered and closed their doors. On the other hand, agile, innovative, and quick-thinking organizations have had a much easier time navigating this year’s challenges.

Changes are happening fast—not only in our economy but also:

  • In how customers communicate and set their expectations,
  • In businesses adopting new processes and technology platforms,
  • In the ways people communicate with one another, and
  • In the types of resources people need and use.

Because of this, flexibility and innovative growth are the keys to developing thriving businesses in the years to come.

If you’re looking around at your team thinking, “Well, this isn’t us,” don’t worry! Innovation and flexibility aren’t innate traits that we either have or don’t have. They are teachable, learnable skills.

To help put your organization on the right track in 2021 and beyond, try these five tips.

1. Encourage honest, open feedback

Growth can’t happen without collaboration, and true collaboration results in the best your organization and team have to offer. But that can’t happen without a system designed to encourage and nurture open and constructive feedback. This atmosphere often comes from the top down.

Consider how you, as a leader, ask for and receive feedback:

  • Do you ever ask your team’s advice?
  • Do you ask for their input when developing new processes or reviewing old ones?
  • Do you encourage their feedback on projects?
  • Do you celebrate their input?

Take note of how you demonstrate the value of open, constructive feedback. Then work to encourage it in areas where it’s lacking. Remember to train new employees to expect feedback and to feel confident enough to give their own. Make time in meetings to discuss ideas as a group and ask each person’s opinion. Single out people who seem shy and help bring them out of their shells (and the same goes for those who are incredibly confident—single them out!).

The goal is to work open feedback into everyone’s expectations about how things are developed and created within your company. When people expect it, it’s much easier to receive it, and it feels a lot less scary to give it.

2. Professional development

One way to nurture innovation is to make an effort to stop employees from stagnating in their career development. Offer opportunities for them to learn new skills, to expose themselves to new ways of thinking, and to move forward.

Yes, it will help deepen the resources they can offer your organization, but it will also foster employee loyalty, engagement, and satisfaction. Professional development adds value for everyone involved, and your team’s productivity and strength will demonstrate that.

3. Psychological safety

For innovation to thrive, there needs to be a level of psychological safety within your organization. Employees need to feel free to try new things, to fail, and to try again. Fear of failure is one of the main reasons things fail in the first place—because people were never able to try.

Train your employees to try new things. Develop their confidence and encourage their ideas. This atmosphere will foster excitement and work against the age-old resistance to change.

4. Employee empowerment

One way to encourage growth and innovation is to provide employees with a strong sense of ownership over their contributions. Train your managers to empower their team to take the initiative. Does someone have a new technology they think would be an asset to the company? Encourage them to prove to you why their idea is a good one.

When employees feel like their work is guided by their inspiration, knowledge, and expertise, they’ll be more likely to put more energy into what they’re doing. Ownership leads to excellence.

5. A values system

Review your values. Far too often, organizations’ values look something like this: integrity, dedication, and excellence. If that sounds familiar, then you’ve got some work to do.

Develop a values system that genuinely reflects your goal of driving growth, encouraging development, being challenged, taking individual ownership, and pushing the goal post farther each year.

Your values are the road map to your company’s future. They inform how you approach challenges and navigate difficult situations. Give them the thought they deserve and encourage your employees to take them to heart. As your team develops around these concepts and begins to identify with the values you create, you’ll see the magic that happens when a team is empowered, driving growth, and taking ownership of your company’s future. It can be a beautiful thing.

Keep working at it. Keep coming back to it. And watch your organization thrive.

 

Photo by ammentorp

Content provided by Q4iNetwork and partners