3 Steps to Develop Your Team

Stop-Start-Continue – 3 Steps for Individual & Team Growth

by Andrew Cooke, Growth & Profit Solutions

3 Steps to Develop You and Your Team – Raise Performance, Achieve Outcomes.

Stop-Start-ContinueHow often do you take the time to stop, look at what you are doing and carry out a “self-audit”?  To reach our potential, or to help others to reach theirs, we need to do this periodically.  This can be used in your business, social or personal life.

Stop-Start-Continue 

There are three parts to this process:.

1.   Stop.

What are you doing that you can stop doing or need to stop doing? 

These might be things that you stop doing yourself, delegate to others, or is no longer required. This frees up time which you can utilise in the next two parts.  Time is limited, so make sure you use it on those things that matter, have priority and help you (or others) to grow and develop.

2.   Start.

What do you need to start doing that you are not currently doing? 

What are those things which will help you (or others) to grow, develop and achieve those things that they are looking for.  You can begin to do these things with the time you have freed up in the first step of Stop.

3.   Continue.

What are those things you need to continue doing?

Identify those things which are currently working for you, and which you can improve that will help you realise what you are looking to achieve. How can you leverage these things and the time to do more of them?

What to Do Next?

For yourself, think of three things for each of the three parts – STOP, START and CONTINUE.  Using the template below, especially if you are a leader or a manager in your business then try this to help your team and reports:

  1. Identify what each person should STOP, START and CONTINUE as regards their role and contribution.
  2. Get each person to do the same for themselves.
  3. Meet with each person and get them to share their ideas with you, and share your ideas with them.  This will create engagement, ownership and commitment for team members who are looking to grow and develop successfully.

Stop-Save-Continue Template

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How to Assess Potential High-Flyers

How to determine and assess future leaders, and where and how to focus your efforts in their development.

You are looking to develop future leaders for your business. How can you do this so that you can consistently evaluate them across the board? What is more important when you evaluate them – their past performance or their future potential? It isn’t an either/or question. You need to understand both their past performance, and to identify their future potential. This is where the Performance/Potential Matrix comes to hand.

Performance/Potential Matrix Overview

This consists of a 3×3 matrix contrasting the two elements:

  • Performance – this is the extent to which the person achieved their objectives (“the What”) and the extent to which they demonstrated the appropriate leadership behaviors. (“the How”).
  • Potential – this is a person’s capacity to be a top performer in a more senior role.

By assessing where an individual sits on each of these two axes you are able to determine two factors:

  • Where they currently sit as you and/or others perceive each individual;
  • With whom to focus your efforts and where (performance and/or potential)

An example of how each of the 9 grids can be labelled is shown below. In doing this the matrix provides a simple and effective tool by which to calibrate criteria and expectations, and acts as a diagnostic tool for development. As such its real value is in being a catalyst for robust dialogue and it facilitates shared ownership rather than one person’s opinion.

Headings

  • Red Headings – people in these grids are likely not to be retained
  • Grey Headings – these people are unlikely to progress futher, but given their level of performance may be best suited in develping further in their existing field
  • Yellow Headings – these people may develop further, but need attention and resources to help them develop. If they do not develop further, or sufficiently, they may slip into a red or grey box.
  • Green Headings – people with real potential who should be in the firs tier for leadership development.

Common Pitfalls to Using the Performance-Potential Matrix

  • Misunderstanding high-potentials – there are misconceptions about the term “high- potential.” People use the term to talk about all top talent, as opposed to talent with the potential to become leaders. It can be difficult for managers to assess “promotability”. Often most managers are subconsciously thinking, ‘Do they remind me of me?’ “
  • Using the tool for individual assessment. – the matrix is not designed for individual assessment, you need to be able to compare different people. Without comparison, it enables neither valid assessment nor career decisions about an individual.
  • Expecting too much. – the matrix is only one tool. You need to ensure that you use other mechanism with more data e.g. 360-degree reviews.
  • Using quotas for each box don’t try to allocate people by quote, you need to reach a common understanding and agreement where each person should be realistically placed.
  • Failing to include change management – when using it you need to engage peope so they understand it and buy-in to the approach and understand what the benefits are for employees and the organization.
  • Overcomplicating the process – don’t try to make the matrix more complex, the effort will usually not add significant insight or value.
  • Failing to differentiate between employees – once you have identified the stars and top performers, you need to direct resources towards developing them—higher salaries, plum work assignments, mentorships with executives, exceptional training opportunities and coveted job rotations—to retain them and develop their talent.

Benefits of the Performance-Potential Matrix

  • It allows managers to use the matrix to assess their people and calibrate them between the leaders.
  • Assists in the creation of meaningful, accountable development plans.
  • Allows you to aggregate relative comparisons between talent.
  • Stimulates discussion and constructive debate, and creating a shared and common understanding.
  • The accuracy of assessing performance and potential improves with multiple perspectives. Managers often have blind spots with their own employees, and are

unaware of how they are perceived by others. These discussions can help shine a light on superstars and poor performers.

  • Creates collective responsibility for the team in building a stronger organization. It encourages everyone to be candid, to listen to each other, and to develop each other’s employees.
  • It uncovers both individual and organizational strengths and weaknesses. As such the matrix serves as a needs assessment for development actions that need to be taken
  • Helps managers and leaders to assess potential which they normally struggle to do.

Next Steps

Work with your peers and use this tool to review your employees to identify your prospective leaders. Try looking at the people by yourself, then share your ideas, insights and reasonings with your peers to create insights, ideas and a common perspective. Use this to stimulate debate, and look to use other tools and means by which to identify the prospective leaders.

To view or download a PDF version of this blog click here.

Share your thoughts and ideas here, or email me at andrew.cooke@business-gps.com.au

If you found this article of use or interest please don’t hesitate to share it with others.

Click here to find out more about Andrew Cooke and Growth & Profit Solutions.

How to Hire for Attitude, Not Just Aptitude

How attitude is a good predictor of prospective employee success, and how you can identify those with the right attitude for your business.

The top challenge for CEOs according to a survey from the Conference Board (January 2013) is Human Capital – the ability to develop and acquire the right people, with the right skills needed to take the business to the next level.  But skills alone are not enough.

“Hire for Attitude, Train for Aptitude”

This is an old mantra which, if ignored, can be costly.  Companies I have worked with have found that recruiting people with the right skills can be costly if they do not have the right ‘attitude’, where there is a lack of ‘fit’.  This is reflected in a study by Leadership IQ of over 20,000 new hires over 3 years which found that 46% of the people about to be hired will fail within the first 18 months on the job. And they won’t fail for lack of skills but rather for lack of attitude.

Top 5 Reasons for Why New Hires Failed

The following are the top areas of failure (i.e., were terminated, left under pressure, received disciplinary action or significantly negative performance reviews):

  • Coachability (26%): the lack of ability to accept and implement feedback from bosses, colleagues, customers and others.
  • Emotional Intelligence (23%): the lack of ability to understand and manage one’s own emotions, and accurately assess others’ emotions.
  • Motivation (17%): insufficient drive to achieve one’s full potential and excel in the job.
  • Temperament (15%): attitude and personality not suited to the particular job and work environment.
  • Technical Competence (11%): functional or technical skills required to do the job.

The key point from this is that when new hires fail, and 46% of them will, 89% of the time it’s because of attitude and only 11% of the time because of skill.

As such, the key predictor of a new hire’s success or failure is their attitude, not their skills.  As such we need to be clear on what attitude we are hiring for. To do this requires two steps:

  • Define the Specific Attitudes – what are the attitudes that make your business different from the rest.  This is both in terms of what is good (which you want) and what is bad (which you want to avoid).
  • Adapting the Hiring & Interviewing Process – you need to make sure that you focus on these attitudes, so adapt how you do this as appropriate.

How Do We Do This?

Define the Specific Attitudes

Attitudes in themselves are not visible or tangible.  Where they are made apparent is in people’s behaviors.  How people behave is an active display of their attitudes.  Their behavior should also be a reflection of the business’ core values which provides guidance to people in the business.  A good example of how the core values are made tangible, and the expected behavior (and hence attitudes) is shown below.

The US Marine Corp

The US Marine Corps has Core Values of Honor, Courage, and Commitment.  The concept of these core values runs throughout all aspects of Marine life, beginning in recruit training and continuing into combat. These “warrior ethos” provide guidance to Marines in difficult ethics situations and as a reminder to provide good order and discipline. These values are defined as:

  • Honor – integrity, responsibility and accountability.
  • Courage – do the right thing, in the right way, for the right reasons.
  • Commitment – devotion to the Corps and my fellow Marines.

Adapting the Hiring & Interviewing Process

Too often, when interviewing, we focus on prospective employees’ technical skills and competencies.  Why?  They are the easiest to assess but, as we have seen, they are a very poor predictor of the success or failure of a new employee.

When you look at jobs being advertised the experience, skills, and qualification that are detailed it can be seen that the business advertising the position has the expectation that a perfect candidate will apply.  This is about as far from reality as you can get.  Realistically, there is no ‘perfect candidate’ and, as such, there can only be attitudes that are right for your business – they will never be perfect.

Tests for Finding the ‘Right’ Attitudes

  • High Performers’ Test – what are the distinguishing attitudinal characteristics of your top performers.  List up to 10 responses that reflect your business.  For example:
    • They own the problem.
    • They always see problems as opportunities.
    • They are great listeners and communicators.
    • Etcetera.
  • Low Performers’ Test – what are the distinguishing attitudinal characteristics of your low performers.  List up to 10 responses that reflect your business.  These are not just the opposite of the attitudinal characteristics that make a high performer. For example:
    • They avoid responsibility and are quick to blame.
    • They focus on themselves rather than others.
    • They do the bare minimum work required.
    • Etcetera.

Once you’ve got your two lists, conduct a quick assessment to make sure every point is on target. This can be done by asking yourself the following two questions about each attitude listed:

  • How does this attitude add value or competitive advantage to this organization? (If the attitude brings no benefit to the organization, it doesn’t belong on the list).
  • Who cares about this attitude? (If the attitude doesn’t bring benefit to your customers, it doesn’t belong on the list)

Doing this provides insight into both what you want and what you don’t want in the terms of attitudes and the associated behaviors.  It then helps you to prepare for the interview by focusing on how they respond to questions around both these areas.  However, how the questions are phrased is just as important as what the question is.  You need to develop the question with the kind of response that you are looking for in mind.  But that is a separate article.

In summary, be clear on what values, attitudes and behaviors you want in your business, and which you want your new employees to exemplify in what they do and how they do it.  Get clarity by distinguishing the attitudinal characteristics of both your top and low performers – this helps you to identify what you want from a potential employee, and what you don’t want.  Around this then adapt your interview and hiring process to ask the kind of questions that will help you elicit answers which will help you determine the prospective employee’s values, attitudes, and behaviors.  Take this into account when you look at their technical skills, as it is their attitude that is a predictor of their skills – not their technical skills and competencies.

To view or download a PDF version of this blog click here

Share your thoughts and ideas here, or email me at andrew.cooke@business-gps.com.au

If you found this article of use or interest please don’t hesitate to share it with others.

Click here to find out more about Andrew Cooke and Growth & Profit Solutions,

4 Ways to Manage for Long-Term Results (& Its Not About Profit!)

Managing for profit can be detrimental to your business in the longer-term.  Discover the 4 guidelines to help your business thrive, not just survive.

We are in uncomfortable times.  Europe is facing a myriad of difficulties, China’s growth is looking to slow-down (albeit continuing), competition is more intense and customers are more demanding and better-informed. Yet amongst these difficulties there are companies who are not just surviving but thriving.

How are they managing to do this and what can we learn and apply from them?  Here are four guidelines for thriving, not surviving.

1. Manage for Value, Not For Profit.

You can’t manage profit – profit is an outcome of your revenues and costs.  You can manage your revenues and your costs, but you cannot directly manage your profit..

Successful companies look at managing value – they ascertain whether what they do creates and provides value both to them and their customers, or not.  You need to create value for both parties in order to be able to capture value for yourself.  Too many companies look at their relationship with their customers as a zero-sum game or as a win-lose opportunity i.e. we are dealing with a pie of a set size, so if I want a larger slice of the pie then the other has to have less and vice-versa.  This is a weak mind-set which immediately puts you in conflict with your customer.

Rather, look at your customer relationships as a win-win opportunity – the opportunity to create and grow value with each other.  This mindset allows the size of the pie to be increased, allowing you to capture more value, even if the split remains the same.  This enables you to collaborate with your customers and create long-term opportunities and relationships, rather than short-term gains at the cost of your customer relationships.

As such value is a driver of profit – the greater the value, the greater the opportunity to drive profitable outcomes.

2. Manage for the Long-Term

Too many businesses are driven by short-term considerations and take actions which, although they may provide relief in the short-term, destroy value in the long-term.  For example, investment in R&D may be cut now to save money and improve short-term profit – but it destroys value in the mid-to long-term as those assets which can create future value in the years to come are weakened, undermined or even destroyed.

3. Manage the Development of Your People

Every company claims that “people are our most important asset,” but few mean it. Frequently business’ investment in leadership development is cut during hard times – at exactly the time when it is needed most to enable and empower high-potential managers to lead the business to success and through these hard times.

In a recent survey of leadership globally, it was found that many of those countries with strong supplies of leaders today are facing a shortfall in the future – this includes countries such as the UK, Australia and Canada.  As such, business leadership is an important issue not only now but in the future (for further information see the blog “The Ticking Talent Timebomb”).

4. Manage your Focus – Be Customer-Centric 

Business needs to understand their customers in terms of what they need, what the business can offer, and how this translates into value for both parties.  As such you need to be able to properly address and craft your offerings to meet their needs.

Furthermore, you need to know not only what business you are in – but what business you are not in.  I have seen many companies grow and expand their offerings beyond what is their core business in response to meet their customers’ demands.  However, this has come at a cost.  As a result, management focus and attention is dispersed, scarce resources are allocated ineffectively and inefficiently, the business lacks the necessary skills to operate in these new areas, costs increase and margins reduce, and the business grows in an unstructured and  ad hoc manner which is difficult or impossible to consolidate.  All of which increases the level and range of risks to which the business is exposed, often beyond the gain that they might realise from this unstructured growth.

Summary

Don’t focus on profit – focus on value and you will achieve profit.  However, this requires discipline, courage and the willingness to invest in the long-term and in developing your people to ensure that you deliver what the customer needs and values.

What are you doing to grow your ability to create, share and realise value?  What has been stopping you and how have you overcome these barriers?

Share your thoughts and comments here.

Share the knowledge, share the wealth!

 

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Click here to find out more about Andrew Cooke and Growth & Profit Solutions.

9 Things Successful People Do Differently

9 tips on how to meet your goals and grow your capabilities

Do you think you can tell?
Do you think you can tell?

In Part 1 of this article, we identified why we are our own worst enemy when it comes to identifying how to improve ourselves.  Here we look at what we can do to help us, given the fact that we are not always the best person to do so.

Psychologist, Heidi Grant Halvorson, recently studied the science of success asking – Why have you been so successful in reaching some of your goals, but not others? Decades of research on achievement suggests that successful people reach their goals not simply because of who they are, but more often because of what they do.  As such, in her ebook – “Nine Things Successful People Do Differently” – she identified the following:

1. Get specific. When you set yourself a goal, try to be as specific as possible. This gives you a clear idea of what success looks like and helps to keep you motivated until you get there. Also, think about the specific actions that need to be taken to reach your goal.

2. Seize the moment to act on your goals.
Achieving your goal means grabbing hold of these opportunities to work on our goals before they slip through your fingers.  To seize the moment, decide when and where you will take each action you want to take, in advance. Again, be as specific as possible. Studies show that this kind of planning will help your brain to detect and seize the opportunity when it arises, increasing your chances of success by roughly 300%.

3. Know exactly how far you have left to go. Achieving any goal also requires honest and regular monitoring of your progress — if not by others, then by you yourself. Check your progress frequently — weekly, or even daily, depending on the goal.

4. Be a realistic optimist.
When you are setting a goal, by all means engage in lots of positive thinking about how likely you are to achieve it. Believing in your ability to succeed is enormously helpful for creating and sustaining your motivation. But whatever you do, don’t underestimate how difficult it will be to reach your goal.

5. Focus on getting better, rather than being good.
Believe you can get the ability to reach your goals is important.  , but so is believing you can get the ability. Many of us believe that our intelligence, our personality, and our physical aptitudes are fixed — that no matter what we do, we won’t improve. As a result, we focus on goals that are all about proving ourselves, rather than developing and acquiring new skills.

Research suggests that the belief in fixed ability is completely wrong — abilities of all kinds are profoundly malleable. Embracing the fact that you can change will allow you to make better choices, and reach your fullest potential.

6. Have grit – the willingness to commit to long-term goals, and to persist in the face of difficulty. Again, you can develop your ‘grit ability’.

7. Build your willpower muscle. Your self-control “muscle” is just like the other muscles in your body — when it doesn’t get much exercise, it becomes weaker over time. But when you give it regular workouts by putting it to good use, it will grow stronger and stronger, and better able to help you successfully reach your goals.

To build willpower, take on a challenge that requires you to do something you’d honestly rather not do. Start with just one activity, and make a plan for how you will deal with troubles when they occur. It is hard in the beginning, but it gets easier. As your strength grows, you can take on more challenges and step-up your self-control workout.

8. Don’t tempt fate. No matter how strong your willpower muscle becomes, it’s important to always respect the fact that it is limited, and if you overtax it you will temporarily run out of steam. Don’t try to take on two challenging tasks at once, or over-expose yourself to temptation.

9. Focus on what you will do, not what you won’t do. Plan how you will replace bad habits with good ones, rather than focusing only on the bad habits themselves. Research on thought suppression (e.g., “Don’t think about white bears!”) has shown that trying to avoid a thought makes it even more active in your mind. The same holds true when it comes to behavior — by trying not to engage in a bad habit, our habits get strengthened rather than broken.  If you want to change your ways, ask yourself, What will I do instead?

So what does this all mean?

To achieve your goals overcome the common mistakes above; build, develop and apply your abilities; and use this knowledge to your advantage from now on.

What has worked for you to help you reach your goals?  Have you tips or ideas of your own that you would like to share?

Share your ideas, insights, and experience – and share the wealth!

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About Andrew Cooke and Growth & Profit Solutions (“GPS”)

Who Knows You Best?

Can you tell how good your performance is or how you can improve?  Read on to find out, you might be surprised…

Do you think you can tell?

Those of you who are Pink Floyd fans will immediately recognize the lyrics from the song, “Wish You Were Here”.  The first part of the song, for those of you not familiar with it are below:

So, so you think you can tell Heaven from Hell,
blue skies from pain.
Can you tell a green field from a cold steel rail?
A smile from a veil?
Do you think you can tell?

Let’s be honest – yes we can!  The difference between them is immediate and obvious, and we can all do this easily. Here is another question:

“Do you think you can tell who knows you best?”

If I was to ask you that then you would probably see one word – “Me!”  Yet you would be wrong. How you see yourself and how other people see you are only weakly correlated.

The research suggests that other people’s assessment of your personality predicts your behaviour, on average, better than your assessment does. The truth is, we don’t know ourselves nearly as well as we think we do. When it comes to performance, our surprising self-ignorance makes understanding where we went right and where we went wrong difficult, to say the least.

If you want to be more successful — at anything — than you are right now, you need to know yourself and your skills. And when you fall short of your goals, you need to know why. This should be no problem; after all, who knows you better than you do?

Why is this?

The problem is our brain.  Just because its our doesn’t mean we know what it’s doing – most of what happens is below our consciousness awareness, it’s not directly accessible to us at all.  As psychologist Heidi Grant Halvorson described it our unconscious mind is like a Cray supercomputer processing everything at high speed, whereas our conscious brain has the power of a Post-It note – unable to handle much and when too much is asked of it, it starts dropping things.  This means when things start going wrong we often have difficulty in understanding why.

When you fail to reach a goal you try to establish why(for example, lack of innate ability, lack of effort, poor preparation, using the wrong strategy, bad luck, etc). Of all of these possible culprits, it’s lack of innate ability we most frequently hold responsible.  As such, innate ability is the go-to explanation for all of our successes and our failures.

Research shows that this is rarely the case – for either succeeding or falling short.  If we need to improve performance we need to know where to place blame.  As we can’t find it ourselves, we need to help to find the right answers.

How do we do this – we focus not on who people are, but what they do.

To find out more, and to read the second part of this article then “Do You Think You Can Tell?” – Part 2 at growthandprofit.wordpress.com

What have been your experiences?  What works for you? Share your ideas and thoughts, and share the wealth!

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Click here to find out more about Andrew Cooke and Growth & Profit Solutions.

The Difference Between Being Involved & Committed

The Chicken & The Pig

An executive coach is not a silver bullet for your problems.  But what do you need to do before you engage an executive coach, and to make sure you get the most out of your time with them?

Coaching is a two-way process and dialog, based on open, honest  communication and a strong commitment to self-improvement and learning.  It requires effort, discipline and humility – on both sides.

Commitment

But the question to ask yourself is are you ready to be coached?

Coaching starts with the coachee – the person being coached.  There is an old joke that goes, “How many shrinks does it take to change a light bulb? One, but the light bulb must want to change.”

If you want to be coached you need to be committed: “The difference between involvement and commitment is like ham and eggs. The chicken is involved; the pig is committed”

Unless you are willing to change, and are committed to doing so, then no coach can help you.  Before a coach can help you, you need to help yourself so you in turn can help others.  It is like being on an airplane when an emergency occurs – the first instruction is for you to put you oxygen mask on yourself before you help others.  So you need to be willing to change before any other change can take place.  Change starts with you, not with others.

Even if we think that we want to change this is not always true.  The human capacity for self-deception is well-known.  We can rationally believe that we want to change, but unless we are emotionally invested in changing it will not last.  Logic makes people think, but emotions makes people act.

We often overestimate our capacity to change ourselves.  Even in situations which can be life-threatening our resistance to changing ourselves.  Studies show that, when giving up smoking, it takes on average seven attempts and five years; and that half of those quit on New Year’s Eve start smoking again within ten days.  This is despite the overwhelming evidence and availability of information on the risks associated with smoking.

How Do We Reduce Our Resistance to Change

1. Create Commitment, Not Compliance

Research has shown that compliance, when you are responding to a demand, incentive or threat only works in the short-term.  As soon as the pressure is removed people revert to their original behavior.  This is because we are not motivated to change – motivation only comes from within yourself, not externally.  Demands, incentives or threats are there to make you avoid something.

Commitment comes from within you because you are personally engaged in achieving a personal change.  This is the only way of maintaining the change for the long-term and on an on-going basis.  As such commitment comes from your beliefs and mindset.

However, a mindset is not just brought into being.  It has to be developed – you need to view the change as an opportunity and not a problem; to see the opportunity to grow the pie rather than seeing it as of a fixed size where others only gain if you lose and vice-versa.

2.  Commit to the Coaching Process, Don’t Just Participate

When it comes to a breakfast of eggs and bacon there is a major difference – the chicken is participating, but the pig is committed.  Which are you – the chicken or the pig – when it comes to the coaching process?  You need to be invested in it and have skin in the game.

3. Be Honest with Yourself

Do you really want someone to coach you and to be candid and honest with you? Or are you looking for having you ego stroked and lots of unqualified encouragement?  If you are the latter then don’t hire a coach – save your money and don’t waste the coach’s time.

Coaching will do nothing for you unless you are willing to change.  Be clear on whether you want to be coached or not, what you want to achieve from the process, and whether you are committed to it or not.  It’s up to you.

Click here to find out more about Andrew Cooke and Growth & Profit Solutions.