Tuesday, January 24, 2017

Top 15 Ways Key Leadership Can Waste Money This Year

Source: hiphopwired.com
...and every year thereafter.

I usually write in an uplifting tone, sharing positive information, which when applied, can garner great results.

This post is a bit different. Sometimes you have to warn, present insights in a way that spotlights the downside. The good news, if you take to heart the observations in this post and quickly take action, profits can rapidly be rescued!

But, left unaddressed, the financial bleed and "human resource" headaches will continue.

Here we go...

In my experience, when reviewing with company leaders the human side of their operations,  it's easy to spot ways in which profits can be bolstered through operational adjustments. Those "easy to spot" elements will be addressed in the list to follow. They are part of the checklist I use in assessing a company's operational infrastructure and strength to best leverage the human side of the enterprise.

Here are my top 15 Ways Key Leadership Can Waste Money in 2017 -- each point is reflective of something missing in an organization's operation, talent and human resource practices.

(This is more thoroughly addressed in my latest executive briefing book Show Me The Money!)

1> Attempts at leadership and management development through periodic, ad hoc 1 day "training" workshops or seminars.

2> Having a leadership team that has not taken the time to establish collective values and vision for how they will operate.

3> Having a leadership team that has done the above, but for which leaders are not held accountable.

4> No formalized leadership and management development program that is part of, embedded in the operational infrastructure of the organization and which supports continuous growth, development and alignment to company needs at all levels.

5> No defined, intentional company culture that consistently communicates and sets expectations for employee behavior and atmosphere.

6> Continue to let HR and leadership industry trends and lingo cloud or distract from essential, basic operational practices.

7> Have random employee training without any accountability for implementation.

8> Have random employee training without any practical ties to needed business outcomes.

9> Don't train employees on how to successfully manage conflict. (This alone wastes so much time &  money through loss productivity!)

10> Keep and continue to allow dysfunctional bosses.

11> Keep and continue to allow toxic employees.

12> Wait until the end of the year to give employees feedback on their performance.

13> Don't hire beyond the job description  - meaning put more emphasis on perceived experience on a resume vs. the quality of the person and fit for the culture.

14> Not being willing to invest in employee development.

15> Keep and continue to allow underperforming employees with no help or coaching.

Honestly, there's more...I had to stop myself, because my complete list would be overwhelming. I know these are good starters and are high-impact issues.

Now, what will you do with this information? You could have a senior leadership strategy meeting (including HR of course).

Recommendation => Use this as an informational resource to enhance your view of the human side of operations. Having a more educated view I call being behavior and financially literate.  It's the absence of this knowledge that is causing a company's leadership to lead in a way that undermine the very efforts being made to increase profits, growth, and value.

Let me know your thoughts below or you may want to schedule a complimentary strategy session.
Pick up our latest executive briefing Show Me The Money! Book | Kindle

Remember -- any one of these could have a substantial, positive impact on operations and profits. If you are not clear that the items listed above directly and substantially impact profits, I highly recommend you read Show Me The Money! or connect with me via phone or email. joann@thehumansphere.com | Ph: 888.388.0565

========================================================================================== The Human Sphere is a business growth, leadership development consultancy that partners w/ senior leadership to improve operational performance and increase profits through human-centric, results-based leadership. Learn more here: www.humansphere.com

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