iamc excellence in the new normal 3.13
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Industrial Asset Management Council - Professional Development Conference - Charleston, SC March 2013TRANSCRIPT
Excellence in the NEW Normal
IAMC Professional Forum
I will not waste one minute of your time…
• I have a ton to cover and I will go pretty fast.• Please take lots of notes, think/work hard and feel free
to ask questions or give comments at ANY time.• I am happy to answer any of your questions, offer advice
and recommend books at any time after this session.• [email protected]
The slides are already posted at:
www.SlideShare.net/johnspence
To customize this program…
• David Snyder
• Susan Reber
• Bob Hess
• Cary Hutchings
• Joe Milano
The consensus:
• We are all looking to improve our business, whether it be the real estate professional looking to site a business in the most cost effective manner, the service provide looking to earn a commission in the excellent performance of his or her trade, or the economic developer looking to bring investment and jobs into their communities. How can they lead the process in best way they can to accomplish these objectives.
A few of my clients:
For the past 21 years…
What does this mean to me?
How can I use this idea?
What can I do right away?
I am NOT a guru…
To get the most from our session together…It is absolutely critical that you be brutally honest with yourself today.
So let's get started with a little self-test on page 2
The Four – I’s
• Ignorance• Inflexibility• Indifference• Inconsistency
Page 3
How to avoid the Four I’s
• Aggressive external market focus.
• Ridiculously high level of customer focus.
• Keep the “Main Things” the main things.
• Bullish on knowledge sharing and learning.
• Teamwork is mandatory – not optional
• Passion and commitment at all levels.
• Foster a healthy paranoia.
• Revel in change.Page 3
• The willingness… even enthusiasm… to change EVERYTHING combined with the wisdom to understand what must NEVER be changed.
The Key To Success in the New Normal…
NimbleosityNimbo-licious
The Pattern of Business Success
(T + C + ECF) x DE = Success
Talent
Talent + Culture
Cecil Van Tuyl
“It is all about people, people, people. You can kid yourself about a lot of things in your business, but at the end of the day it will always come down to people.”
The level of highly satisfied and engaged EMPLOYEES in your business.
The number one factor in increasing the level of highly satisfied and engaged CUSTOMERS in your business is…
Key Drivers of Customer Satisfaction and Loyalty
Financial Performance
Quality P&S&
Customer Relationship
EmployeeSatisfaction
Empowerment High Standards
Long-termOrientation
Enthusiasm, Commitment,
Respect
Training &Development
Fair Compensatio
n
CR= 104.12% increase in profits
CR= .404
CR=.334
CR=.277
CR=.275CR=.249
CR=.280 Coaching
CR=.285
CR=.371
CR=.365
CR=.191
CR=.247
TolerateNothing
Less
From: Practice What You Preach by Maister
Global study:16 countries529 companies15,589 respondents
Chart: 4Workshop: 5
Actively disengaged employees can reduce revenues by up to 22%, while highly satisfied and engaged
employees can drive profits up by as much as a 189%
Culture = Cash
What do engaged employees look like?
1. They give more discretionary effort.2. They consistently exceed expectations.3. They take more responsibility and initiative.4. They receive better customer service ratings.5. They offer more ideas for improvement.6. They promote and model teamwork.7. They volunteer more for extra assignments.8. They anticipate and adapt better to change.9. They persist at difficult work over time.10. They speak well of the organization.
1 - 10
Workshop: 6
The key elements of a winning culture: Employees
FunFamilyFriendsFair
FreedomPridePraiseMeaning
Accomplishment
1 -10
Workshop: 7
The Six Universal Drivers of Engagement
1. Caring, competent, and engaging leaders.
2. Effective managers who keep employees informed, aligned and engaged.
3. Effective teamwork at ALL levels.
4. Job enrichment and professional growth.
5. Valuing employee contributions.
6. Concern for employee well being.
1 - 10
Workshop: 7
1,300,000 interviews: Basic 4 + 1
Goal Setting
TrustAccountability
Communications
RECOGNITION
Page 8
Extreme Customer Focus
Web of Value: VOC + MOT + WOM
Page 8
Extreme Customer Focus
VOC
Moments Of Truth
Page 8
VOC + MOT Workshop: Page 9
WOM = Your BEST form of advertising!
43% - 74% of purchasing decision = WOM/T
The Keys to positive WOM
Kaizen
For those who are prepared…Chaos brings opportunity.
325,9054.1
14,300,000
The Evergreen Project
10 year study of 160 top companies
40 distinct industries
200 management practices
Winners, climbers, tumblers, losers
Winners had an average Total Return to Shareholders of 945%...
The Losers only averaged a TRS of 62%
From: What (really) Works by Joyce, Nohria, Roberson
The Four Primary Practices:
1. A sharply focused, clearly communicated and well-understood strategy for growth.
2. Flawless operational execution that consistently delivers the value proposition.
3. A performance-oriented culture that does not tolerate mediocrity.
4. A fast, flexible, flat organization that reduces bureaucracy and simplifies work.
Workshop 11
The Secondary Management Practices:
• Talent = find and keep the best people.
• Key leaders show commitment and enthusiasm for the business.
• Embrace strategic innovation.
• Master the power of partnerships.
From: What (really) Works by Joyce, Nohria, Roberson Workshop 11
10 – 15%
Where are we going + how will we behave on the way?
FocusDifferentiation“No”
Stakeholders + guiding collation
Vision + ValuesStrategyPlansGoals / ObjectivesTactics / Actions
Procedures / ProtocolsRepeatable ProcessClear / consistent / relentless
Training +time / money /
supplies / people
Measure / TrackCommunicate
Transparency Renewal
Praise + Celebration and
Eliminate Mediocrity
WS Page 12
Accountability
1. 100% Clarity
2. 100% Agreement
3. Track & Post
4. Coaching
5. Reward / Punishment
Page 12
The 6 Keys to Winning in the New Normal
1. People
2. VOC
3. MOT
4. WOM
5. Kaizen
6. Execution
Strategy Map / Word Cloud: Pages 13 & 14
Final Workshop: Pages 15 - 17
Excellence in the NEW Normal
IAMC Professional Forum
THANK YOU
If you have any questions at all please do not hesitate to send a note or call. My email address is: [email protected]
My twitter address is: @awesomelysimple
Also, you might find value in the ideas I share in my blog. You can sign up for it at:www.blog.johnspence.com
Lastly, these slides have already been uploaded to:www.slideshare.net/johnspence