[EXECUTION] Benefits of “Big Data” for your business

According to W. Edwards Deming, “the fundamental job of a leader is prediction.”

To do this, you need data— the right data presented in the right way so you can make the right decisions.

Mid-sized and large corporations are hiring and training an army of “business intelligence” analysts so that they can capture, analyze, evaluate and leverage all sorts of data to do a better job at sales, marketing, customer service, creating the best team, and increasing profits. 

And they will use this information to target your customers and gain market share.

Facebook Google and Amazon and Netflix and Youtube know more about us that some of our friends and they are using it to sell us more products and services.

But all is not lost, your business can do the same even without the same volume of data and spending millions on fancy math majors and software.

I suggest that a place to start is to implement four “Rockefeller Habits”:

Rockefeller Habit #5. Gather Employee Input

Rockefeller Habit #6. Gather Customer Input

  • These should be regular parts of your intelligence gathering, topics for discussion at your weekly management meeting, and inputs for your quarterly and annual planning cycle.
  • Customer and employee data provide insights about what your company does well, needs to improve, and opportunities to provide something your competitors do not [for a competitive advantage]

The next Rockefeller Habit that is relevant to your data gathering is:

#9. Key Performance Indicators KPI for Everyone

  • Employees want to know “did I have a great day or week?”- having a clear and simple KPI can let them know this and keep their focus and efforts aligned with department and company goals.

Lastly, if every department and individual has the right KPI for your business, the most beneficial way to use all this data to evaluate, motivate and re-prioritize is to implement:

Rockefeller Habit #10. Scoreboards Everywhere [see below for last week’s email “8 Benefits of a Dashboard for your Business.”

  • These Habits are part of an “Accountability Management System”– where you have a single place to capture, track, review, evaluate, and use all your Data for strategic thinking and implementation planning.

It may sound a bit daunting, but we have seen clients develop their KPI and dashboards in about 3 months, and then build the habits to incorporate into their “execution rhythm” in another 3 months [or sooner.]

Flying with instruments calibrated to your journey is definitively more effective than flying blind.

[EXECUTION] Measure What Matters: Book summary

I had lunch yesterday with my now-retired business partner and mentor, Dr. Jerry Newman. 

Since 1977 he has been teaching CEO’s and business managers that their
People systems and Pay need to align with business goals, and that all should be objectively measured.

You know, since Jimmy Carter was President… I was wearing polyester striped bell-bottoms, and during the stagflation years before Reagan and the economic growth of 1981-2008 and 2016 until now.

Not new news, people! 

I also just read “Measure What Matters” by John Doerr- who worked with Google and Intel and the Gates Foundation to do just that.

Here is an excerpt, and you can click this link to download a nice summary of the book.

Summary of Measure What Matters Part One – OKRs in Action 

 “We don’t hire smart people to tell them what to do. We hire smart people so they can tell us what to do.” — Steve Jobs 

One of the most sought benefits of implementing an OKR [Objectives and Key Results] strategy is corporate alignment. 

Getting the entire organization focused on the company’s most crucial Objectives is key to employee engagement and ultimately success in the market. 

Studies suggest that only seven percent of employees genuinely understand their company’s strategies, and, what’s expected of them to help reach these corporate objectives. 

What is the connective tissue that enables this alignment? OKRs, (Objectives and Key Results) can provide the linkage and visibility to create true alignment in any organization. 

In this chapter, Doerr uses a football team analogy to illustrate why connecting Objectives is a blend of top-down and bottom-up planning. Setting successful OKRs requires a balance of cascading Objectives and Key Results down through the organization, and input from employees into their personal Objectives. (With the important caveat that personal Objectives must be in support of, connected to, the company’s top priorities). 

The top-down cascading connects everyone in the organization, creating alignment; and the bottom-up planning gives individuals a greater sense of ownership, creating engagement. 

Doerr quotes an exasperated CEO who states, “At any given time, some significant percentage of our people are working on the wrong thing. The challenge is knowing which ones!” 

Learn more-Atiim book summary “Measure What Matters”

Resources – Recruiting & Selection

In this module you will learn how to attract ideal candidates, what screening elements to use in your selection process and what tools you can use to learn more about your candidates to make your selection.

Videos

Training 7 – Recruiting & Selecting A Players

Bonus Pre-Selection Tools:

  1. Assessments and Reference Checking
  2. Applicant Processing

Documents

  • Ideal Candidate Profile
  • Interview Questions

Articles

To your People success,

-Diana Southall, People Coach and creator of the People Plan™

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If you are ready to create your own People Plan, learn more about our Toolkit resources.

Resources- Clarifying Expectations

Why Clear Job Expectations Are Important:

  • They get everyone on the same map!
  • Creates a roadmap for each employee to:
    • Clearly understand expectations and standards of performance.
    • Benchmark their own performance (with key results).
  • Tool for managers to select, train, manage
    • Identify causes of performance gaps.
    • Basis to discuss and improve poor performance.
    • Recognize and motivate exceptional work.
    • Determine training and development plans for employees.

Videos

Training 1 – 9 Steps to Build A Fabulous Team

Training 2 – Clarifying Job Expectations 

Documents

Articles

 

To your People success,

-Diana Southall, People Coach and creator of the People Plan™

————————————————————————————————-

If you are ready to create your own People Plan, learn more about our Toolkit resources.

 

Resources – Training & Development

This module focuses on how to create action plans and the steps to identify and groom people for advancement within the organization, helping you build a team of skilled and involved employees that do a great job.

Videos

Training 6 – Training and Development Action Plans

Documents

Articles

 

To your People success,

-Diana Southall, People Coach and creator of the People Plan™

————————————————————————————————-

If you are ready to create your own People Plan, learn more about our Toolkit resources.

Resources – Performance Discussions & Issues

This module focuses on how to prepare for and deliver performance feedback via one-on-one discussions and then ongoing corrections and compliments.

Video

Training 5 – Performance Discussions & Addressing Issues

In this video you will learn how to:

  • Start (continue) annual performance discussion process
  • Build a foundation for ongoing coaching conversations
  • Improve relationship and trust with employees
  • Address the performance or attitude issues you have been avoiding

Documents

Articles/Resources

 

To your People success,

-Diana Southall, People Coach and creator of the People Plan™

————————————————————————————————-

If you are ready to create your own People Plan, learn more about our Toolkit resources