 Possible or ImpossibleYou've heard people say “anything is possible with hard work, talent and perseverance." However, there is a fine line between thinking something is possible and wishing it was possible. What tilts the balance is taking action. A mindset that does not slip into inaction is the key to successful attainment of possibilities. Without this, even great possibilities become just wishful thinking. In 2020, take action to maximize your possibilities and achieve what seems impossible  Scaling Culture in Growth CompaniesOver the past few years there has been a marked increase in the rise of growth companies across the globe. As they scale, these companies must ensure they have the right people and systems in place to maintain their speed of growth. Culture, a key differentiator for these businesses, can be difficult to manage when a company scales from 10 to 1,000 employees. CEOs and investors, concerned about the long-term impact of culture on corporate performance, are taking steps to ensure they are promoting the right mindsets, behaviors and attitudes to evolve culture and avoid problems. No longer a "nice to have" benefit for growth companies, culture has taken center stage as a key metric in valuation.  Signs that your culture needs a reboot
Your company culture is not only vital for growth, but defines competitive advantage and ensures the business has a favorable reputation in the eyes of employees, customers, prospects and investors. What's your company doing to evolve culture? Value ShiftAccording to a recent Glassdoor Survey 3 in 4 candidates consider culture the top differentiator when seeking job opportunities, Glassdoor surveyed over 5000 individuals, and more than half prioritize culture over compensation.  Trends Innovating the Future of WorkArtificial Intelligence Bottom-up Performance Management Employee Experience Evolution of Conscious Brands Increase of Women in Leadership and Tech roles Mental Health Wellness Inclusive Workplaces Internal Recruiting Mission-driven Organizations Whole Employee Mapping Fluid Organization Design Generational Diversity in the Workforce Demand for Work-life Balance Building a Strategic Workforce for the Future How prepared is your company for the future of work?  Bottom-upOver 90% of managers believe their organization’s performance management process does not correspond to the actual work done by their teams. Consequently there is a significant dissatisfaction with performance evaluations. HR has struggled to address this challenge, using numerous methodologies and solutions, such as continuous performance management, pulse surveys, OKR and so on. Yet, none of these methods have been effective. This is because rater bias and challenges with adoption hinder the value of most methodologies and discourage quantifiable results in performance management.  To be effective, performance management must be future-centric, solve problems and start from the bottom.Performance management becomes about the work and best way of working. The employee becomes an active participant in detecting and reporting potential problems. Managers gain visibility as to what aspects of the role employees are more successful in and can leverage this knowledge to align people according to the best use of their capabilities. Bottoms-up performance management delivers a better understanding of how employees across the organization work and helps determine real contributions. Employees are rewarded purely on their performance. Their performance goals and targets are clearly defined and communicated to them formally. Employees feel motivated and accountable for their performance and strive to achieve and even exceed the targets set for them. With consistent year-over-year administration, Bottoms-up performance management results in critical information about the potential to scale, skill gaps and where development would make an impact. The business can use this information to achieve more focused hiring to complement the existing talent pool, better understand how compensation dollars should be applied and who is promotable or transferable to other roles within the organization. The ripple effect of using a Bottoms-up approach to performance management provides visibility into ways to improve communication, processes, controls, and results in retention of key team members, who will feel empowered to discuss better ways of working and in doing so become committed to the success of the business.  As you consider 2020 initiatives, factor this topic into your wellness program.Published by Ana Alfonso Pagliery, CEO/Board Executive Helping clients buy, sell, separate, integrate, reshape, restructure or rethink their businesses, while achieving financial success. M&A | Investment | Partnerships Comments are closed.
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