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Month: March 2015

Winning Culture With Core Values

Winning Culture With Core Values

By Robert Fish

Well-defined and leveraged Core Values are one of the most powerful mechanisms to grow a company, especially as it passes 50 employees and gains complexity.

Core Values define the character of your firm and create the foundation and frame upon which the organization is built. A company’s Core Values can exist by default or be developed and supported by design. “By default” is a dangerous way to run a business because employees won’t have a clear should/shouldn’t framework in which to make decisions. Well-designed Core Values are a simple set of rules that define the kinds of behaviors you want to see inside the business. They also eliminate the need for countless, more complicated rules and operating procedures that can destroy a company’s culture anshopping-list-707760_1920d chase off the A-players on your team.

The number one mistake I see with Core Values is they are rarely mentioned, and most employees don’t know what they are, let alone the key behaviors tied to each Core Value. Yet, getting Core Values right – and integrating them into every aspect of the business – generates huge leverage and saves a tremendous amount of time and trouble.

How To Leverage Core Values

1. Use Core Values as a baseline and a test for developing strategy. Does a growth strategy idea work within the Core Values? Or does it violate any of them? This is an effective method to screen out ideas that could pull the organization in the wrong direction.

2. Use Core Values to evaluate talent as part of the recruiting process. Drill deep into the behaviors that define each Core Value for your business. For example, the word “teamwork” may have different meanings to different companies and different people. You must have clarity on the specific behaviors that reflect each Core Value. You can teach Core Values to employees, but you’re better off hiring people who already share your organization’s Core Values. Most companies hire for skill and fire for fit. Getting clear on the Core Values and integrating them into the recruiting process can reduce the chance of poor hires due to wrong fit.

3. Use Core Values as an easy method to manage employees. Clearly defining Core Values and the behaviors that support them makes it easier and more productive to have difficult conversations. Employee problems are almost always due to a fit issue or some type of behavior that is getting in the way of production. Often, problem employees have the right skills, but the people dynamics get in the way of things. Well-defined Core Values are an easy way to help managers address problems early, get someone back on track or even make a more difficult decision clearer, faster. And the employee receiving the feedback is less likely to be personally offended or upset if you tie the behavior back to the Core Values.

4. Use Core Values in dealing with clients. Try to attract clients who share your view of the world and how you do things. And when a client becomes difficult or antagonistic with employees, use your Core Values as a framework to have a difficult conversation. Using a Core Value as a talking point takes the sting out of the dysfunction and makes the conflict less personal.

5. Try to use Core Values for marketing leverage. Look at Whole Foods. Shoppers are willing to pay a premium based on what Whole Foods believes… who they are… their Core Values. They will not buy certain species of fish to resell because of overfishing in certain parts of the world. They are willing to risk an economic hit to retain a Core Value. And look at how well the market responds to decisions like that.

6. Tie public praise for great work or deeds back to a company Core Value. If this can be done weekly, it can really imprint the Core Values into the mind and behaviors of everyone in the organization.

You can’t over-communicate Core Values. All employees should be able to name them, describe the key behaviors for each and tell a story about someone in the company living a Core Value in the past 90 days.

During facilitated planning sessions, we always open the meeting by asking about Core Value activity in the past 90 days. It’s a great warm-up exercise and a way to reinforce the concepts. One of the best early warning radars for anticipating trouble in a company is when no employee can tell a Core Value story from the past 90 days. Core Values are one of the best lead indicators of organization health. And healthy teams are winning teams.

 


Learn more about how to Scale and Grow your business – including more ways to build your A-team – at my April 29 Scaling Up Business Growth Workshop in Charlotte. These workshops, based on the Rockefeller Habits™ 2.0, have empowered more than 20,000 executives and their leadership teams with proven tools and strategies to scale up smarter. Click here for more information.

 

The Winning Team

The Winning Team

By Robert Fish

group-with-thumbs-up-150x150For a sports team to win the big game and stand atop the podium with the big trophy, it not only needs the best players at each position, but also all of the individual athletes working well together toward their ultimate goal: winning. To be the champ, an athletic team can’t just have the best players on the field, coaches on the sidelines or front-office staff to manage the day-to-day business. It also needs everyone who influences its success – vendors, sponsors, ticket buyers, consultants and the league office – to buy into what it’s selling.

The same things are true in business, and, just like in sports, a poorly functioning team will prevent you from achieving your version of the Ultimate Podium Finish™, the goals you’ve set that will determine whether you’ve beaten the competition and won the game of business in your field.

Just like in sports, your team isn’t just the people who work at your organization, but also your entire universe of customers, vendors, contractors, advisors, coaches, consultants, etc. You want to attract and retain A-players – the people who are onboard with your Core Values and achieving (or beating) performance goals – and weed out the players who drag your business down.

Build A Team Of A-Players

We’ve all heard stories about locker-room issues that prevent a sports team from winning games. This also happens in business. To build a team full of A-players you must address the things that repel A-players from your business. Often, this is management not taking any action to fix problems with B or C players, bad processes or customers who are more trouble than they’re worth to the bottom line.

A-players maintain your Core Values – the rules and behaviors that define your culture and personality – and are repelled by co-workers whose bad or inappropriate behaviors cause workplace tension or reflect poorly on your business.

First, make sure that everyone on your current team knows your Core Values and has a fair chance to show whether they can live by them.

Next, you need to identify your A-players and deal with the B- and C-players. Place everyone on an ABC matrix.

  • B-players: weak job performers, but their behavior reflects your Core Values
  • B/C-players: strong performers, but they have behavior problems
  • C-players: poor performance and poor behavior

Now you need to deal with what you’ve learned. Let’s tackle this in reverse order:

  • C-players: eliminate them, either by terminating them or finding a new role that will give them an opportunity to become A-players.
  • B/C-players: clarify behavioral expectations and give them an opportunity to change the attitudes or actions that are keeping them out of the A quadrant.
  • B-players: offer job training to help improve their job performance. (Consider Laurie Bassi’s exhaustive research, which showed that training and development produced a 672% ROI, more than any other investment a business owner could make.)
  • A-players: take actions to keep the A-players happy and engaged. (Dealing with the B- and C- players should help.)

Get Your A-Players Working Together

Building a team of A-players isn’t enough for small and midmarket companies to achieve the Ultimate Podium Finish™. Those A-players must work together, driving as a team toward your goals. The technique to breaking down those silos is creating cross-functional responsibilities. During your quarterly planning, identify quarterly Rocks, and the Tasks needed to achieve them, that involve multiple departments. Although one person is accountable for each Rock, he or she must work with people across the business to achieve it.

This strategy encourages leaders to work together, and it also exposes any interpersonal issues or other below-the-surface things that are preventing your people from being a team. As those issues surface, they must be quickly addressed with team-building exercises or other interventions to get healthy.

Why It’s Important

Just like in sports, your team can make or break your ability to achieve your Ultimate Podium Finish™. Take steps now to ensure that your team is full of A-players – high-performers who reflect your company’s Core Values and are committed to the business’ success.

 


 

 

Learn more about how to Scale and Grow your business – including more ways to build your A-team – at my April 29 Scaling Up Business Growth Workshop in Charlotte. These workshops, based on the Rockefeller Habits™ 2.0, have empowered more than 20,000 executives and their leadership teams with proven tools and strategies to scale up smarter. Click here for more information.