Archive for the 'Management' Category

The worst employee is the one who is not good enough to keep and not bad enough to fire. These people are the worst to have on your team, as they have figured out a way to do just enough to get by and don’t add any true value to your organization.

Effective leaders have the courage to hold each team member accountable to high performance standards and don’t tolerate mediocrity. They understand the importance of the following guideline…

Hire slow, fire fast. Effective leaders take time to hire the best and don’t compromise their standards just to fill a position.

And remember, it’s all about the relationship.

There is a simple formula for improving performance within your organization. In fact, it’s so simple that most people miss its magic. Following is the formula…

Relationships!!

Yes, it’s that simple. You won’t receive results without relationships. The main reason most managers miss the magic of relationships is they don’t take the time to develop real, authentic relationships. Effective leaders practice the R.A.R.E. strategy…Random Acts of Recognition Everyday.

The R.A.R.E. strategy is a simple act of daily discipline that, compounded over time, will result in meaningful relationships and powerful results.

1. Hire slow
2. Fire fast

Far too many leaders take too little time to hire the best and too much time to get rid of the worst. It takes both patience and courage to follow this sound hiring philosophy.

And remember, it’s all about the relationship.

For those who have ever made bad decisions:

1. Stop! Are you so caught up in the hairball of life that you rarely stop to reflect on where you are and what you need to change to improve your life?
2. Ask the right questions from the right people. These questions should be asked of your Personal Board of Directors. Remember, the right people are those who tell you what you need to hear not necessarily what you want to hear.
3. Listen to their answers. Don’t bother asking the questions if you are not willing to listen objectively to their answers, as it would be a waste of time and energy. Capture their answers in writing - don’t rely on your memory.
4. Think about the consequences. Remember that you, and only you, are responsible for your life choices and the consequences of such. By thinking about your choices before making decisions, you are more likely to respond (good!) than react (bad!). When you act before thinking (ready, fire, aim!) you usually make poor decisions.
5. Respond appropriately. As you adhere to this four-step discipline, you will most often make good decisions that lead to a more fulfilling life. An illustration: When you have a follow-up visit to your physician after taking a prescribed medication for a sickness or illness, you receive one of the following diagnoses: “You are reacting (bad news)” or “You are responding (good news).” The previous four steps will help you to respond vs. react as you focus on making the right decisions for your life.

A final thought on decision-making: Never make important decisions when you are tired or angry.

I want to share one of the most powerful examples of improved performance that I have ever witnessed. One of my favorite clients, the CEO of a community bank in the Midwest, called to share some exciting news. The conversation went something like this - “Byrd, I wanted to share some great news with you. Since your visit with our team (eighteen months prior), our asset size has nearly doubled!” He had obviously grabbed my attention and I asked him how his team was able to achieve this phenomenal growth.

“During the session with our management team, you shared the #1 want of our employees - the need to feel appreciated - and mentioned that it wasn’t the big things - pay, benefits, etc. - that make the difference, but the little things done on a consistent basis that would improve employee morale and increase performance and profitability. Well, we decided to implement your “R.A.R.E.” technique - Random Acts of Recognition Everyday, and it really worked!

One recent example is that we announced an ambitious plan to increase branch deposits by 1.7 million dollars over a ninety-day period. We exceeded this goal, achieving an average of three million dollars per branch!” My next question was the obvious, “How did you do that?” His response - “Well, we simply implemented the R.A.R.E. recommendation, paying our staff one dollar per letter sent to existing and prospective customers, thanking them for their business and mentioning our portfolio of financial products. An example of our team’s response is that one member of our accounting department sent 900 personal letters and another administrative employee mailed 500 letters! I received great satisfaction in presenting the $1,400 in rewards.

This positive energy permeated our organization and the results speak for themselves, a true-life example that passionate hearts committed to a shared vision can accomplish the impossible. Needless to say, we are enjoying the best year in the history of our bank! We are a living example of what happens when leadership focuses on hearts and souls, not the bottom line.”

This executive focused on the one thing all organizations have in common - people. He understands that when management takes care of employees, they will take care of the bottom line. This simple act of daily discipline produced profound results. Success is truly high-touch, not high-tech! Are you practicing “R.A.R.E.?”

And remember, it’s all about the relationship.

Effective leaders understand that open and honest communication is the lifeblood of trust. There will be low levels of trust without the presence of open and honest communication. Following are a few words to reflect upon…

“We need people in our lives with whom we can be as open as possible. To have real conversation with people may seem like such a simple, obvious suggestion, but it involves courage and risk.” – Thomas Moore

“You must speak straight so that your words may go as sunlight to our hearts.” – Cochise

And remember, it’s all about the relationship.