The Execution Challenge
Strategy execution is where the difference is made. The challenge is connecting the gap between strategy and coherent execution plans, as described in published research from Wharton, INSEAD and McKinsey; Leadership has great strategies, but many fail to translate into actionable tactics that are consistently tracked through to completion.
Too frequently stakeholders are unable to understand objectives, the impact of their activities or their role and responsibility in a change.
According to research published in The Harvard Business Review Turning Great Strategy into Great Performance, less than 60% of strategy execution initiatives deliver the financial outcomes.
Our enterprise solutions enable leadership teams to define, track and manage delivery of their strategy across the entire organisation.
Real time reporting provides the single view of all objectives, supporting strategies and change activities. All stakeholders can understand their objectives, role and performance which underpins overall delivery.
Key reasons execution fails:
- Initiatives don’t align with strategy
- Processes don’t align with strategy
- Employees and stakeholders fail to engage
- Poor communication
- Lack of leadership
- Using the wrong measures
Agility & change - While the market continues to demand greater agility from organisations, many of them still depend on how open their managers are to change processes. Agility is not only an option, but a condition to be up to date and competitive.
Communication & culture - Transparency and openness has a huge impact on employee communication. If employees feel like their opinions are welcome and needs are being met, they are more likely to speak up when something is wrong. A positive culture fosters a sense of openness, helps ensure that everyone is on the same page.
Leadership & governance - Leadership and governance can reinforce or undermine achieving your performance outcomes. With the right tools, business leaders and their stakeholders can focus embedding those things that support the key qualities and behaviours that shape a more positive and performance outcome focused culture.
Alignment - Are all elements of your business from market strategy to organisation structure arranged in such a way as to best support the fulfilment of your long-term purpose. Ensure your accountability system reinforces the behaviours needed to implement your strategy.
Ways of working - Most companies, have a bias toward tackling issues through hierarchy, performance metrics usually through projects - with a manager,
a set of objectives, and milestones. Often this approach is too cumbersome, the answer lies in empowering, coaching,
and trusting people to see the problems and take steps to solve them.
Planning & execution - It’s no secret that most strategic plans fail to deliver their intended results. Often, the problem isn’t the strategy, but how it’s implemented. Get people focused on the results they need to accomplish, instead of overloading them with activities and to-do lists. When the desired results are clear, it brings tremendous focus.
Using 339 research studies across 230 organisations in 49 industries and 73 countries, including nearly 1.9 million employees; analysis further confirmed the well-established connection between employee engagement and key performance outcomes. In studying differences in performance between engaged and actively disengaged employees, those organisations scoring in the top half on employee engagement nearly doubled their odds of success compared with those in the bottom half.
While those in the top quartile in employee engagement outperformed bottom quartile ranging from 10% to 70% across customer ratings, profitability , productivity, turnover, safety incidents, shrinkage (theft), absenteeism, patient safety incidents and quality (defects) from. If employees truly are a company's best asset, then their care and support should be a priority, engagement can't be imposed from above, it's about creating a cultural shift in the way organisations behave.
Making employee engagement central to your business strategy is a fundamental element of achieving your desired performance outcomes.
The Three Types of Employees
Engaged workers stand apart from their not-engaged and actively disengaged counterparts because of the discretionary effort they consistently bring to their roles. These employees willingly go the extra mile, work with passion, and feel a profound connection to their company. They are the people who will drive innovation and move your business forward.
Contrast this with actively disengaged employees, who are more or less out to damage your company. Not only are they unhappy at work, but they are intent on acting out their unhappiness. They monopolise managers' time and drive away customers. Whatever engaged employees do -- such as solve problems, innovate, and create new customers -- actively disengaged employees will work to undermine.
Not-engaged employees offer perhaps the greatest untapped opportunity for businesses to improve their performance and profitability. Not-engaged workers can be difficult to spot. They are not overtly hostile or disruptive and likely do just enough to fulfil their job requirements. They sleepwalk through their day, uninspired and lacking motivation. They have little or no concern about customers, productivity, profitability, safety, or quality. They are thinking about lunch or their next break and have essentially "checked out."
The majority of the global workforce is not engaged: most employees reluctantly head to work, lacking energy and passion for their jobs. Converting this group of employees into engaged workers is the most effective strategy that any organisation can implement to increase performance and sustainable long-term growth.
Because better is possible our goal is to help you raise awareness so more of your people fully accept their personal responsibility to making things better. We help you in taking action to develop your people and culture, build engaged, high-achieving teams by tapping into the connection between engagement and performance.
Put people at the heart of your business - Our powerful, easy-to-use platform automatically surfaces personalised actions for every leader so everyone plays a part in building an employee experience that attracts, engages and retains the best people - ultimately delivering returns back to the bottom line.
Research over many years, industries and organisations provides a general breakdown across employee types.