Managing Breakthrough Performance in the New Economy
Updated: Jan 8, 2019
As a leader and perpetual learner, I'm always looking for how to best help my clients excel not only today but in the future. We are all experiencing the increasing rate of change due to technology, changing demographics, customer expectations, and domestic and global economies, just to name a few. I'm sure for you, as it is for me, there is no such thing as rest when it comes to managing in the New Economy.
Recently, I heard the keynote speaker, Ryan Estis, at the Manufacturing First Expo and Convention. Ryan's energetic presentation provided not necessarily new ideas, but a focus that can help all of us achieve greater performance. These 4 concepts were:
Initiate Continuous Reinvention
Unleash Human Potential
Be a Culture Champion
Take Action Now
First, Initiate Continuous Reinvention. Former President and CEO of Intel, Paul Otellini said, "Great companies execute and disrupt at the same time. Often they disrupt themselves." Stepping outside your comfort zone and being more comfortable with uncertainty is not only a good idea, it's necessary. Inviting conflict into your organization to achieve greater results not only generates innovation, but increases commitment. Recognizing and appreciating that engagement from your employees creates a culture that continually grows and prospers.
Second, Unleash the Human Potential. A Gartner survey showed that 89% of business leaders believe that customer experience will be their primary basis for competition for 2016. This is up from 36% just four years ago. So what does this mean for you as a leader? First, you need to have effective two way communication. As Stephen Covey states, "Seek first to understand, then to be understood." People need human connection, and human connection comes from nurturing and inspiring the human spirit. Second, you need courage. Courage to set the example and deliver consistently. You need to 'go first' so that people know what they can expect from you each and every day. Create standards, set expectations, and follow through. As the Millennials continue to populate the workforce, making up 50% of the workforce by 2020, the expectations continue to grow. They are not the older generations, they are their own generation. They want to be treated as VIP's, they want regular feedback and development, not annually, but daily, weekly, monthly, quarterly. They want to have confidence in leadership and the future. They want flexibility and open-mindedness, and they want to be recognized for personal accomplishment. In reality, they aren't asking for anything the rest of us don't want as well. The difference is, they are demanding it or they won't stay.
Third, Be a Culture Champion. As leaders you need to be a 'future maker'. You need to be responsible for making the future happen and inspiring others to do the same. You as a leader and the culture you create organizationally needs to embrace your core values and create career opportunities that "change lives." How you choose to show up to work every day, who you impact that day, and how you will be remembered by the people you worked with today, not only determines the leader you are, but the culture you want to create. None of us want to come to work and bring home a paycheck, we want to have a life changing career where we have integrity, respect, teamwork, innovation, and excellence. Every day is an opportunity for us as leaders to be 'future makers'.
Lastly, Take Action Now. What are you going to do over the next 30 days that will impact how you Initiate Continuous Reinvention, Unleash Human Potential and Be a Culture Champion?
If success in the New Economy is based on your ability to provide an exceptional customer experience, then your employees, your customers, and your partners all expect leadership that is invested, engaged, and shows up each and every day to have an impact on those they interact with every day.
How do you want to be remembered by the people you worked with today? How will you create Breakthrough Performance?
Jayne McQuillan, CPA, MBA, CEPA is a strategic management consultant, and the owner of Journey Consulting, LLC, in Green Bay