Why do some companies achieve results year after year and others in the same space cannot?
Why do some organizations experience double digit percentage growth every year while the industry ambles along at a sub 10% growth rate?
There are patterns that can be identified within the high achievers. Some are intuitive and others are not. Here’s what we have found among the companies who struggle to get above industry standard growth rates.
• Most have a plan in place and the strategy is generally sound – although not fully understood by most of the employees.
• Most have pockets of greatness which gets most of the attention and fanfare.
So how do we ask ourselves the tough questions in a way that gets us into a scoring position (exceeding average growth rates)? Here are a few items that may help in your exploration of this issue:
1. Reject the easy answers:
Companies who allow their leaders to accept excuses that seem logical can unwittingly promote failure. An example could look like this: You lose a client, then rationalize that the client was difficult, was only focused on price, was not a fit, etc. Or worse, pretend that we really didn’t lose the client, it’s just that the need for the client product and service is simply no longer there. Allowing people in your organization to rationalize subpar performance is the first barrier to growth.
2. Build on your best assets:
As stated above, most companies have pockets of greatness. They also have high-performers and should focus on finding ways to identify and share the best practices of the high-performing people or teams. Companies that can transfer best practices within their organization quickly and efficiently are ones that have a better chance of achieving consistently high growth.
No matter what business a company is in, their purpose and meaning for existence is what makes the employees loyal and engaged. Leaders who talk about numbers and strategy without connecting it to meaning and purpose are holding the company back. They don’t share stories of the difference they make. Every company makes a difference. What is yours? Even the most self-motivated people can get discouraged if they are not reminded and shown that the work they do is valued – and benefits other people!
”Strategy of the Day.” “New Shiny Toy.” It’s easy to overwhelm an organization with new expectations they don’t accept because they don’t tie together. Everyone has full plates and without reinforcement the employees come to realize that if they ignore it long enough, it will go away. That is why it’s so important to introduce new tools, behaviors, and processes in a sequenced approach, one change at a time with a system of reinforcing activities that build upon each other.
If you would like to move results at your organization more quickly, take a minute to give yourself and your organization a quick self-test in the areas above.
Of course, McHenry Consulting has expertise in this area; we can help you move to a place of high energy and highly-engaged employees who experience what it’s like to win!