Successful team culture is made, not born. This is the fifth article in the series Playing the Game Called Profit Land.
On the way to Financial Freedom Kingdom, are your team members supported at every turn?
Automation seems to be growing day by day. In many ways, it’s absolutely a positive move forward. For example, in business, automation can lead to improved efficiency and productivity, cost-savings, reduced operational errors, heightened compliance, and greater customer service. Those are great things!
But let’s not confuse automation with autopilot. Even in autopilot, the airline captain still needs to pay attention to weather, altitude, and navigating takeoff and landing. Or consider a “self-driving” car— for now, it requires someone behind the wheel paying attention. Even GPS-guided navigation trips up from time to time, requiring human intervention (and override!).
Likewise, just because you’ve oriented and trained your team members doesn’t mean you can “set it and forget it.” Performance management is a critical component on the road to Financial Freedom Kingdom when playing the game of Profit Land. Let’s look at some best practices for best team performance.
Complacency: The Enemy of Profitability
Achieving your company’s mission requires a cohesive team that is forever growing, learning, and improving. Complacency is the enemy of profitability. A big “win” one quarter doesn’t ensure the next will follow that precedence—unless, that is, you’re consistently focused on performance management.
No matter what industry you’re in, it’s imperative to measure, develop, and motivate employee performance at individual, team, and company-wide levels. This guarantees you’re actively driving business objectives that are critical to your company’s success.
To be clear, this is not strictly about conducting performance “reviews.” While regular check-ins and feedback are important, CEOs need to look at the bigger picture. What might that landscape look like? Consider these benefits of a more holistic approach to performance management:
- Identifies both obstacles and opportunities as they arise
- Draws a direct line between company vision and employee contribution
- Empowers employees, because they feel inclusive to the company’s mission
- Strengthens employee growth and professional development
- Opens the door for strategic brainstorming among team members
- Fosters employee retention
That last one is a biggie these days. One of the primary reasons for the pandemic-spurred “Great Resignation” is that employees felt undervalued in their work and chose to move on to a more fulfilling environment. Sometimes, it wasn’t even about compensation. Many accepted a wage cut because they knew they were moving on to something healthier—emotionally and professionally.
It’s safe to say those individuals knew something was missing in the day-to-day, and it very well could have been a lack of support from upper management.
Before you put up any objections, I’d like to assure that performance management doesn’t have to be a complicated burden on you or your HR professionals. It might simply involve a five-minute one-on-one conversation to explore an employee’s challenges over the past week. Or, setting collaborative goals (weekly, monthly, quarterly) that motivate employees to be proactive in their own performance obstacles.
It could even be a public display of employee recognition. If you’ve done your job, and created a healthy company culture among all employees, accolades to one person isn’t a “slight” to any other. Working together toward the company’s mission means one employee win is a win for all. Instead of a competitive environment, it becomes a collaborative one.
Plus, positive reinforcement has been proven to nurture self-confidence. This further enforces employees’ role within the organization, leading to even greater performance.
Supporting the People Behind the Process
It’s not wrong for CEOs and other company leaders to wish for smoother processes within their business operations. But, the answer to that doesn’t solely rest in automation. In fact, it’s the people behind the processes that can make the biggest impact. The key is ensuring your culture club members are being supported at every turn on the journey to Financial Freedom Kingdom. The Officeheads team can help you develop a culture club that sets every team member up for success to reach Financial Freedom Kingdom. Reach out to us today to see how!