Quarterly profits are no longer an accurate picture of company performance. There can be delays and sometimes misleading information. When talking about shift and success, there are 3 areas related to people dynamics: culture, relationships, and individuals, then there are 3 relate to process, which are strategy, systems and resources.
Two examples from real life
In one London insurance company, there were generally high levels of performance and culture. These areas were scoring near the top levels. When the situation was examined more closely, however, some worrying facts appeared. The company leaders tended to rate the culture more highly than individual employees. Some individuals indicated burn-out syndrome.
The trainings in place lagged behind developments and were not able to keep pace with the actual needs of customers. When the company realized that, it changed its induction and training strategy in order to maintain a competitive edge.
At a management consultancy based in the US, issues were the following: people were motivated and the culture was strong, but many employees were tired of working overtime. They felt stressed. Also, there were hidden areas where urgent development was needed. New personal development plans were created and strategic decisions about what the company should stop doing and in what it should continue to build upon were clarified. After a year and a half, the company revenues increased 5 times.
Lessons learned?
- People are living assets that create all the other assets.
- Employee engagement on its own doesn't guarantee success. However, its absence equals failure for any company.
- Values and culture are important: you can't financially incentivize your way to lasting success.
- Personal leadership cannot be separated from the development of the organization itself.
-jk-