Somewhere between the end of budgeting and the start of the
new year, leaders have the opportunity to reflect and invest some use-it-or-lose-it money on improving future success.
The question is, what should you choose to do?
Koliso is here to help. We apply the science of psychology
to the practice of business. Seven points across three key areas follow for businesses
to invest in. How you can accomplish this list is noted at the end of
the article.
STRATEGY—SET GOALS
HOW?
1. Be confident; be modest.
Visionary goals expressed with modest confidence motivate. However,
many leaders think they need to set audacious goals backed up by statements of
supreme confidence. This can actually work against productivity. Instead, express
modest confidence and focus on the achievable. For more see our article, “How Confident Should a Leader Be?”
2. Have (self-motivated) fun.
Individuals work better and enjoy it more when they have the
right balance of control and challenge. Psychologist Mihaly Csikszentmihalyi
calls this being
in a state of “flow.” Engaged employees on average create 15 to 20 percent more
shareholder value. An end-of-year planning session should encourage staff to
set goals that have just the right degree of challenge while leaving them in
control and confident.
3. Have your year-end session facilitated by an outsider.
Facilitating an end-of-year session means more than planning
the timing and agenda. Keen judgment is required to enable everyone to
participate while keeping the session on track. A facilitator can bring an
outside perspective, which allows you the opportunity to participate freely.
PERFORMANCE—REVIEW THE PROCESS
4. Make sure every employee understands their contribution
to success.
Before the new year begins every employee should have his or
her goals and contributions to success documented and agreed to. Just the act
of writing down goals and having them “signed off” builds commitment. This is a
time for questions and uncertainties to be clarified so that everyone’s goals
and commitments are aligned to the big picture.
5. Make sure you are using reward and recognition
strategically.
Psychologists understand that “the behavior you get is the
behavior that gets rewarded.” While self-motivation is powerful, a person’s
desire to bring their best efforts to their work will gradually be extinguished
if they are not recognized for good work. Find ways to tie good performance to
what matters most to employees: social recognition, financial reward and career
security.
6. Have plans in place to hold employees accountable.
Accountability is the mirror image of reward and
recognition. When people do well they should be rewarded and when they don’t
they have to be held accountable. One reason is for the health of the
organization: when you’re not getting the right results you have to take
corrective correction. Something needs to be done whether it’s focused on
training and coaching to manage the employee up or intervention to manage the
employee out.
Another reason to hold employees accountable is to benefit
the morale of the rest of the employees. There are many examples in social
psychology of the “social reference” effect; employees take their cues about
what is acceptable from the way others are treated around them. The employees
you let off with a lower standard gradually poison the people around them into
thinking a lower standard is acceptable.
LEADERSHIP—TIME FOR AN AUDIT
7. Systematically review the leadership behaviors of your
team.
If you really want to start 2013 off properly, consider doing
an assessment of your team’s management and leadership.
Looking inward: do you have the right skills,
style and standards?
Looking outward: are the goals, roles, processes and relationships of your team appropriate to where you want to end up next year?
Looking forward: do you have plans in place on a daily, weekly, quarterly and annual basis so the work of the team is focused on ongoing success?
Looking beyond: is there a big picture perspective that shows how you are ready to exploit, confront, adapt and avoid according to what your environment is doing over the long term?
Looking outward: are the goals, roles, processes and relationships of your team appropriate to where you want to end up next year?
Looking forward: do you have plans in place on a daily, weekly, quarterly and annual basis so the work of the team is focused on ongoing success?
Looking beyond: is there a big picture perspective that shows how you are ready to exploit, confront, adapt and avoid according to what your environment is doing over the long term?
HOW TO?
Get Koliso involved. Successful
organizations choose us to lead them through the points listed above, which—in
a bit of a predictable cycle—makes them continue to succeed!
Are you ready for success in 2013? Ask
us confidentially to take a look and we’ll let you know. info@koliso.com
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