happy at work conference; david bonifacio - makati, philippines
TRANSCRIPT
DAVID BONIFACIODIRECTOR OF STRATEGY, CBTL HOLDINGS INC. MANAGING DIRECTOR, NEW LEAF VENTURES MANAGING DIRECTOR, ELEVATION PARTNERS MANAGING DIRECTOR, IDC MANPOWER PRESIDENT, ISSHO GENKI INTERNATIONAL !TWITTER: DAVIDBONIFACIO EMAIL: [email protected]
Reasons for Employee Turnover
2%20%
15%
15%18%
29%Career OpportunitiesLack of FitManagement / Work EnvironmentFlexibility / SchedulingPay / BenefitsJob Security
Turning Around Employee Turnover, Gallup Business Journal
“Most of the reasons employees cited for their turnover are things that managers can influence.”
Turning Around Employee Turnover, Gallup Business Journal
``
88%
- 50 employees x 88% disengaged = 44 people - 44 people x 15 minutes wasted/day = 660 mins wasted - 11 hours x P100/hour rate = P1,100 lost per day
The problem with
P33,000 lost from disengagement per
month
``
88%
- 50 employees x 88% disengaged = 44 people - 44 people x 15 minutes wasted/day = 660 mins wasted - 11 hours x P1000 of potential value generated = P11,000
The problem with
P220,000 potential value lost per month
“The lost productivity of disengaged employees costs the U.S. economy $370 Billion annually.*
*National Business Research Institute
Achieves objectives.
Comes to work early.
Communicates effectively with each other
Innovates and grows
Attracts other excellent people to the company
Generates amazing value for the company
Purpose-Driven (Meaning)
!Performance-Oriented
(Results) !
Principles-Led (Values)
by Doug Ready, MIT Sloan
Purpose-Driven (Meaning)
!Performance-Oriented
(Results) !
Principles-Led (Values)
by Doug Ready, MIT Sloan
BE PURPOSE DRIVEN
• Define your company purpose. What are you driving towards?
• Define the purpose of each person in your organization. Answer the question, “Why am I here?”
• Constantly communicate the group purpose and each individual’s purpose.
BE PERFORMANCE ORIENTED
• Define the performance expected. Define how this performance is connected to the company purpose and the individual’s purpose. People should know how they’re judged.
• Measure and Develop: Measure and Develop performance. Don’t just expect it.
• Carrots and Sticks: Reward what you want more of. Punish what you want less of.
BE PERFORMANCE ORIENTED
Undefined expectations = Unmet expectations Unmet expectations = Dissatisfaction
BE PERFORMANCE ORIENTEDNotes on Measuring:
You can’t manage what you don’t measure. (“I have a feeling” or “I think” don’t count.)
!Measuring the wrong thing leads to wrong decisions.
(Measure things that contribute to achieving the purpose.) !
Interpreting measurements wrong leads to wrong decisions. (Validate with data. Validate the data itself.)
!Use new tools to measure. Ask others how they measure.
(We use tools like Asana and PayrollHero)
BE PERFORMANCE ORIENTEDNotes on Developing:
Start with expectations. (Company and Client Expectations)
!Define what skills are required to meet expectations.
(Ask yourself: What do we have to be good at?) !
Develop people to excel in these skills. (Training programs, exposure, books, mentors, etc.)
!Expand responsible people. Remove irresponsible people.
(If they’re good, invest more. If they’re not, don’t waste anymore.)
BE PRINCIPLES-LED
• Define your values. What are non-negotiably important to you? How should everyone aspire to behave?
• Defend your values. Especially from yourself.
• Demo your values. People follow the leader.
–May 22, 2014
“As I continue preparations for my talk on worker happiness, I keep seeing the need to stress the importance
of executors (actual people) who will push (sometimes fight) for actual change and the need to adopt new
methods (actual processes, strategies, and policies), and to embrace and learn new tools (actual technologies) that all
come together to provide an engaged workforce that is both productively achieving company goals and is happy and committed. Someone has to do it. That someone has to do new things. That someone doing new things needs
innovative tools.”
THANK YOU!EMAIL: [email protected] TWITTER: DAVIDBONIFACIO