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Roll out the Habits of the Highest Achieving People in your Business
You may have heard of the 80/20 rule – which claims that 80% of your output comes from only 20% of your time. Similarly, 20% of customers contribute to 80% of revenue, and 20% of workers contribute to 80% of a business’s success. You get the picture.
So, how can you apply this to your business?
In the case of your workforce, you shouldn’t go out and let 80% of them go – but you can capture the magic of the top 20% and pass it on to the whole of your team. Imagine what your business growth would look like if you could bottle the formula and share it out evenly amongst your employees! With a few tweaks to your management style, it’s easier than it seems. This blog reveals 6 simple things you can do right now to maximise the potential of your whole workforce, from engineers and service technicians to back office staff.
1. Recognise your stars
The better performers among your employees always deserve recognition. Observe who is inputting more effort than others. Give them rewards for their hard work and celebrate their achievements. When other workers see this, they will be encouraged to achieve more too.
2. Give your team the right tools
There’s nothing more frustrating than feeling held back by cumbersome processes at work. Giving your people the tools they need to be effective in their job can make a huge difference to engagement and performance, from accounting and HR software to job management software out in the field.
3. Engage with your staff
The priorities for a successful modern business have changed, making it essential to build a strong rapport with your colleagues. You need to involve yourself as much as possible within the office. Meeting up with staff frequently shows you care about well-being and about development and progress.
A minimal amount of effort can bring a dramatic change to the work culture of your business and your employees will perform better if they feel a part of your vision.
4. Champion accountability
As a business owner, you are the overarching administrator of the business. You are required to make difficult decisions and to take any necessary actions to benefit the company. You can discontinue problematic products, change suppliers or discipline underperforming employees. Accountability in the workplace is about employees taking responsibility. It encourages good behaviours, is linked to increased commitment, and is a great morale booster. Guide your staff, listen to them and empower them. Set realistic expectations and hold your people to account
5. Be bold and learn from your mistakes
It can be hard to introduce inventive and forward-thinking ideas if fearing a negative outcome stops you in your tracks. Have the courage to make bold changes to your company, whether that is giving one of your team member’s ideas a platform or letting underperforming people go. Any successful business leader will tell you that they have made numerous mistakes before hitting on a winning formula – Dyson spent 15 years creating 5126 versions of his now world-leading vacuum cleaner! Learning is a lifetime process, especially in the business world and making mistakes will provide some of your most valuable lessons. Your top people know this – when they make a mistake, they find a solution.
6. Prioritise
Keeping your business running smoothly and successfully is your overarching priority, and that is why you need to handle other things on a priority basis. Ask yourself “is the task I’m about to do in the top 20% of my activities or in the bottom 80%?” Teach this to your employees.
Try applying some of these methods to your management strategies. You will be surprised at how relatively little (20%) of your efforts can bring such positive results.
Practical tip:
Make a “to-do” list and prioritise tasks. Then note the amount of effort required to complete the tasks and compare this with the results. For example, preparing a marketing presentation may take a large amount of effort and time but only reap small rewards. Whereas, calling a customer to resolve a query might take relatively little time, but yield very positive results.
As a business owner, you need to make the right decision at the right point to maximise potential growth. Understanding business means you can focus effort on the 20% that makes a significant difference, instead of the 80% which is having less of an impact. And that is exactly what your top performing people are already doing. With your guidance, more people in your business can achieve this too.
To maximise your output and profit, you just have to focus on the people and things that matter most. One thing that can help give you more visibility to make you and your team more effective is Field Service Management Software. Give us a call today for a free demonstration.