management in the digital age - vistage presentation
DESCRIPTION
Management in the Digital Age We are entering an era of “Digital Darwinism,” when society and technology evolves faster than companies can adapt. More specifically, it is the way we manage people that has struggled to keep pace with the rate of change. We need to reinvent management Radical Transparency & Accountability How to use dashboards to bring your Goals to life in a way that engages and motivates your people. What works and what doesn’t in terms of setting goals and holding people accountable for performance - based on direct observations of thousands of client firmsTRANSCRIPT
Management in the Digital Age
PRESENTER: Stephen Lynch @StephenLynch
Vistage Presentation - Aug 2014 || @RESULTSdotcom
PRESENTATION AVAILABLE POST PRESENTATION:
www.RESULTS.com/slides
Management in the Digital Age
This is a fantastic time to be entering the business world,
because business is going to change more in the next 10 years than it has in the last 50
– Bill Gates
“It is not the strongest who survive, nor the most intelligent,
but the ones most responsiveto change”
Digital Darwinism = when technology and society evolve faster than your
company’s ability to adapt
I like the people
I work with.
Someday I’ll meet
them in person.
ALIGNMENT
company-wide goal
Company goal
Team goal 1
Individual goal 1
Team goal 2
Individual goal 2
Individual goal 3
MANAGEMENT
CHANGE
STANDARDIZED
Industrial age
work
CUSTOMIZEDNetwork age
work
LABOUR:obediencesystemsprocessesproductivity
TALENT:initiative
innovationcreativitypassion
Management 1.0
Management 2.0
1.0 is NOT WORKING
MANAGEMENT
▪ 92% of organizations do not measure KPIs
▪ 90% of strategies fail due to poor execution
▪ Only 27% of employees have access to
their company strategic plan
▪ Only 5% understand their company strategy
▪ Only 15% of employees know their
company’s top priorities
▪ Only 6% of employees know their own
priorities
GOALS & TASKS
▪ 70% of employees want regular conversations about their Goals with their manager
▪ But, only 36% of employees report their managers are having such conversations
ACCOUNTABILITY & RESULTS
▪ 67% of employees want regular performance feedback from their manager
▪ But, only 29% report actually getting feedback on their results from their manager
FEEDBACK
EMPLOYEES WANT MORE
MEETINGSare NOT WORKING
▪ 15% of an organization’s collective time is
spent in meetings
▪ 67% of meetings are rated as “ineffective”
by managers
▪ 92% of people admit multitasking during
meetings (checking email, unrelated work)
▪ $37 Billion wasted on unproductive
meetings per year in the USA
18%
actively disengaged
52%
not engaged
30%
engaged
DISENGAGED
70% of employees are
Top 3 Reasons why employees leave companies:
1.
Lack of faith in leadership
team
2.
disengaged; demotivated
3.
unappreciated
What does good management look like?
Drivers●●●●
●
Enhancers● People-focused managers● Build strong relationships and trust● Give encouraging feedback● Keep employees happy &
motivated.● Focus on taking care of people
“Drivers” vs. “Enhancers”
Which style of management is the most likely to increase employee engagement?
If you don’t have middle management,
you are middle
management!
“We are going to have to reinvent management; the way we lead, we plan, we organise, we hire, we motivate... because today, organisations are facing a set of challenges that are truly unprecedented."
– Gary Hamel
2.0
MANAGEMENT
"We leave the manner of accomplishing the mission to the soldier, allowing them the freedom to take whatever steps deemed necessary based on the situation."
Radical
Transparency
RED
YELLOW
GREEN
Traffic light concept
In the past we used spreadsheets
don’t engage peopleSPREADSHEETS
Now we use software
+ multiple integrations
Always aim for the STARS, if you miss…
..you’ll at least reach the moon
Everyone knows their ACCOUNTABILITIES
Key Performance Indicators
Projects + Tasks
ALIGNMENT
company-wide goal
Company goal
Team goal 1
Individual goal 1
Team goal 2
Individual goal 2
Individual goal 3
See how other teams are PERFORMING
Drill down to identify ISSUES
Looks like someone is struggling GOALS MISSED?
What’s happening here?LET’S HELP…
Assign a TASK to address the issue
Strategy Centre 1-Page Plan
Strategy Centre Thought Leadership Library
PRODUCTIVE Meetings + Live notes
RESULTS focused management dashboard
A COMPLETE SOLUTION FOR SMB
IDENTIFY WHAT’S HAPPENING IN YOUR BUSINESS RIGHT NOW
VISIBILITY INTO WHAT DIFFERENT PEOPLE AND TEAMS ARE WORKING ON
IDENTIFY WHICH AREAS ARE WORKING WELL AND WHICH REQUIRE ATTENTION
UNDERSTAND WHO’S EXCELLING AND WHO NEEDS HELP
