Move Your Enterprise from Strategizing to Executing
Everyone talks about, “business execution leads to greater success”. Those organizations that do it well are household names and have a distinctive brand that lasts. Most organizations, however, get lost in their transition of strategy to execution. So, how can your enterprise create the foundation for business execution that moves it from “strategizing” to “executing”?
Enterprises that are great at business execution link their business and people strategies together and ensure they are enabled by effective work processes. Poor execution, resulting in lost market share, customer interest and margin erosion occur when organizations have a brilliant strategy, but fail to execute. What went wrong? Why do so many companies fail to execute? What is stopping them from being successful?
Execution excellence is achieved through the successful integration of and effective implementation of four enterprise growth pillars:
Enterprising Strategy — a long term plan of action designed to achieve a particular set of strategic business objectives. Strategy is management’s game plan for strengthening the performance of the enterprise. It states how business should be conducted to achieve the desired objectives. Without a strategy management has no roadmap to guide them. See PEO’s Enterprise Growth / Strategy information.
Business Innovation — innovative practices and plans to support or deal with business continuity needs such as turnarounds and having an inspired workforce culture.
Alignment – ensuring that the enterprise, by design, is structure to meet head on the challenges of today and tomorrow. Specifically, alignment must be realized as it relates to the enterprise’s business structure, key functions, reporting relationships, and performance goals and accountability.
Execution Excellence — plans, tactics and programs to ensure that the enterprise is able to execute its business strategy with efficiency and speed. The ability to execute is what separates the winners from the losers. Enterprises that prosper are far more efficient in converting strategies into returns. It has been proven that bottom line results are far more dependent on execution (85% vs. 15%)1 than on strategic plans. The measurable gap between strategy and execution when reduced by even a small percentage goes right to the bottom line turning shareholders into satisfied investors and executives into winners.
See PEO’s execution excellence accelerators below:
Succession and Development
Ensure Business Continuity through Highly Capable Talent
High performance business execution requires the right people in the right places doing the right work to drive maximum impact throughout your organization. And, having the right leadership to succeed and lead for the future is imperative for sustained enterprise success.
Building and developing a strong talent pool is a key component of how enterprises prepare themselves for real results, today and for the future. Enterprises need to proactively plan for organizational change and the future, and balance that with the employee aspirations.
At PEO, we can help you identify, develop and retain talent at every level of your organization.
By using our robust succession management insights, practices and tools, your organization can easily map your critical staffing moves. Plus, take advantage of our performance and development action planning tools to create talent development plans and learning objectives to address critical leadership or skill gaps — all while providing team members with greater visibility into the future of their careers.
By proactively engaging in leadership succession planning, your organization will strategically identify your “star” or “up-and-comers”. Using this information, you can develop them for upcoming job transitions without losing your valuable internal knowledge base. Learn how our Succession and Development insights and practices can help your organization dramatically improve your alignment, execution, performance and results.
Important questions about succession and development to reflect upon:
- Do we have a plan to fill any critical leadership positions in the event a key leader leaves?
- Do we have a strong leadership pipeline?
- Do we know who are key leaders are?
- Are we developing our up-and-comers to lead in the future?
- Have we identified our key strategic positions?
- Have we assessed our existing leaders and up-and-comers against our core competency needs? If so, what are the gaps?
- Do our leaders and up-and-comers have development objectives and plans aligned to the needs of the business?
- Are we blending internal and external candidates for promotional opportunities?
We have extensive hands-on and real life experience in helping our clients build a succession framework and plan, identify leaders and up-and-comers for growth or promotional opportunities, create development objectives and learning plans, etc.
Manage Growth through a Well Designed Workforce
Economic uncertainty, growth constraints, changing workforce dynamics, skills shortages and demand for skilled talent are forcing enterprises to change the way and locations where they conduct business. Whether it’s a new business unit, a realignment, downsizing, merger, acquisition or divestiture, we can help out with the workforce design.
Understanding the risk associated with not having the right mix of talent and carefully planning and designing your workforce makes a huge difference in your ability to execute your strategy. With effective workforce planning, your enterprise can:
- Identify the core people competencies for your business based on the strategy, core values and business principles
- Help identify the skills, knowledge, experience and character of leadership position successors and conduct internal assessments to determine candidate suitability
- Identify the skills and competencies needed to meet your growth strategy, any gaps produced by workforce projections and the associated risks
- Understand and quantify the financial implications of strategic workforce planning decisions
- Assess the cost of employee turnover
- Model the skills and competencies needed to meet your future growth strategy
- Forecast employee transition gaps and career progression and then analyze where any gaps might impact on your ability to execute your strategy
PEO Methodology Helps Deliver Real Results
PEO’s proven methodology accelerates an enterprise’s ability to design and execute effective workforce plans. The five key elements to our framework are:
- Strategic Positioning: identify future state workforce requirements and scenarios
- Supply and Demand Forecasting: identify and project the size and shape of the future workforce needed to execute the business strategy
- Workforce Risk Assessment: determine workforce risks that pose a threat to business strategy execution
- Strategy, Impact and Cost Modeling: build the workforce strategy, identify and determine key initiatives along with impacts and costs
- Workforce Transformation Plan and Accountability: explore and confirm integration and change management approach to align workforce transitions into the overall corporate strategy, determine accountability for change and then how to measure success
Performance and Goals
Focus Performance Goals on Achieving Strategic Results
Ensuring employees perform to their best has never been more critical to business today than ever before.
Faced with constant fierce competition, doing more with less, and challenges to pricing stability, enterprises must execute with absolute precision or succumb to competitive pressures.
To succeed, enterprises must have a workforce that clearly understands the enterprise’s strategic objectives, align to them, and be as agile as never before to adapt quickly to the competitive landscape.
PEO’s powerful Performance & Goals methods and tools enable executives and senior managers to understand the relationship between the corporate strategy and themselves, align their personal objectives, priorities, and actions to those priorities, define success and monitor performance results, in real time.
PEO Focuses Executives and Senior Managers on What Matters Most
PEO’s proven methodology and tool, the Individual Performance Scorecard, immediately link executive and senior manager personal objectives, priorities, measures of success and personal development to corporate strategic priorities. The five key benefits to our framework are:
Executive and Sr. Manager Strategic Alignment: every executive and senior manager personal annual and quarterly performance objectives and priorities are linked to strategy. Personal objectives are designed to be “smart” so that they are clear, focused, and working towards the achievement of corporate strategy.
Measures that Drive the Right Behaviour and Results: what gets measured; gets done! PEO’s methods and tools focus executives and senior managers on the right quantitative measures that drive the right behaviours which, in the end, drive the right results. With each measure comes a performance target. Our job is to provoke thinking, alignment and commitment towards the best results.
Committed Actions for Expected Results: one of the key failures in the workplace is the assumption that work and results just happen without a plan. Still, even today, most executives don’t have clear plans for managing personal effectiveness for results. So, to remove that risk at work, PEO’s Individual Performance Scorecard ensures that executives and senior managers plan the actions, activities, and resource requirements to ensure their personal objectives are met.
Development Objectives Focused on Achieving Strategic Results: too many organizations waste financial resources on training and development initiatives and actions that don’t link to or support strategy. At PEO, we abhor waste. So, we’ve designed our Individual Performance Scorecard with a focus on personal development that is linked to supporting the right leadership behaviours and competencies for sustained results.
Monitoring and Reporting Personal Performance Results: our tools and approach enable executives and senior managers and their direct managers to monitor expected results in a consistent and meaningful way. With our way, there will be no surprises.
Just ask us for more information about our unique methods and tools to focus and deliver on expected executive and senior manager results.
Total Rewards Strategy
Optimize Your Rewards Investment to Drive Employee Results
Managing your cost of business is critical for ensuring a healthy bottom line. An integral part of business expense is your investment in people. Why not get the best bang for your buck when spending valuable resources on people – compensation, benefits, work-life practices, recognition, and career development – to attract, motivate and retain people?
Having the right total rewards strategy and plan helps organizations manage their cash outflow to engage, encourage and reward those employees demonstrating the best behaviour and achieving the best results.
With the right total rewards strategy, both the enterprise and the employee can enjoy certain advantages. Specifically, it can:
- Drive enterprise success through greater talent attraction, engagement and retention
- Guide investment decisions for the enterprise while encouraging informed choices for the employee
- Clarify the employer-employee relationship
- Position the rewards programs in the right market to manage cost and employee expectation
- Build a distinctive employment brand
- Increase the return on rewards and create value for the enterprise
PEO can help your enterprise design and adopt a more strategic, comprehensive and integrated approach to total rewards that includes both financial and non-financial rewards. Under this approach, we develop a customized solution to help your enterprise prioritize rewards investments according to the needs and preferences of key talent segments in your enterprise.
Just ask us for more details of how we can help you and your enterprise.
Incentive Review and Design
Linking Incentive to the Right Measures Drive Right Results
All too often enterprises fail miserably at creating the right incentive plan, short or long term, to driving the right business results. The key culprit is the failure to choose the right measures that focus executives, senior managers, and teams on the right behaviours. Using the wrong measures only defocuses employees and ultimately annoys them because of the conflict between personal performance and resultant reward.
At PEO, when helping clients design high impact incentive reward programs that make sense. We always start with the end in mind; meaning, we check in to the financial, business and customer strategies of the enterprise, then, we determine the measures that drive the right behaviours and results.
Because we believe in keeping it simple, we educate our clients and then build the right incentive reward program and change management plan to inform, engage and then encourage executives, senior managers and team to focus on and achieve the right results.
Our PEO rewards specialists have designed countless reward incentive programs in countless industries across North America. Just ask us about our experience, credentials and how we can help your organization.