Frequently Asked QuestionsBelow is a list of questions we are often asked about deploying performance management initiatives. Please contact us for more information. Strategy
How quickly will we see results? You'll see results within the first 12 weeks and probably within the first 2 hours as part of our Blast! Session. The early benefits are:
We are so confident in this that we tie our compensation to your success. I don't have time for something like this. Companies have to survive the short term in order to prosper in the long term. For example, a company needs good financial records to keep itself in business. That would take priority over a scorecard initiative. If there were short-term projects that affect survival those would clearly take priority. Otherwise, companies should follow a formal prioritization process to determine which initiatives to move forward with. Adding to that, all companies need a process for planning and execution management. Typically the scorecard process improves upon existing methods and because of its efficiency, ultimately saves companies' time. Logistically, the Senior Staff needs to assign a person to lead the scorecard initiative. This person could spend between 25% and 50% of his or her time during the first 12-week phase of the project. Senior Staff members should expect to spend about 40 hours on the initiative. Finding the time for the Senior Managers is typically easier than assigning the staff person. Senior managers spend time on strategy anyway and the scorecard process can be built into that time. Particularly in smaller companies, finding someone to lead the internal process is tougher. Finding the resources is a question of priority - can other initiatives be put on hold for the scorecard project? What is going on that is more important than strategy, execution and alignment? Ultimately this process will save everyone time. Time spent planning is preventative. The time assures that managers don't have to spend time fixing problems later. More importantly, planning significantly enhances your ability to succeed. Things change so much - what is the point to having a strategy? Especially in times of change, having a strategy is always better than not having one. A strategy is nothing more than a hypothesis for how to react to a given set of conditions. As conditions change, so should your strategy. Going one step further, the strategy needs to be continually assessed and improved. Hopefully the vision won't change. But it is likely that you'll continually redefine how you will achieve the vision in reaction to your successes and failures. In times of change the strategy assures you are as prepared as you can be and that you are ready and able to adapt. We're doing fine right now. If your company is meeting all of its goals and does not have a performance management plan in place, it is probable that the performance management plan would enable your company to reach for even higher goals. There is no better time to introduce performance management than when things are going well. You have an opportunity to both improve results by raising standards and put systems in place that will warn you of negative results before they happen. We don't have the money. We appreciate that especially in times like this, finding the money for any new initiative is difficult. That is why we base our compensation on the results we generate. If you are not happy with the results, we don't get paid. That decreases your risk significantly. The upside is that over the long term your company will save money through improved planning and a focus on execution. The process often helps companies identify new revenue opportunities as well. This is another reason why we have a Blast! Session - to understand the value without your having to make a financial commitment. We have already begun measuring things. Measuring is a critical step to developing a performance management system. It is only one step though. The key is not just to measure, but to make sure you are measuring the right things. Companies can typically only focus on 20-30 metrics at a time. Are the metrics you are using driving your strategy? Do they provide a balanced perspective that not only looks at financial health, but at the things that drive financial health? Are the metrics motivating to staff? We don't really have targets that we need to hit. At the end of the year, it is what it is. People generally give what is demanded of them. Few things are as motivating as a clearly defined and achievable goal. In their book Built to Last ,Collins and Porras identified the presence of long-term goals as one of the hallmarks of excellent companies. If your company has succeeded in the absence of defined goals, wait until you see what happens once you do set goals! We don't have the data we need. Large companies often lack between 30 - 50% of the data they need. It is not unusual for a small company to have none of the data they need and for it to take one year to get it all. This process helps companies define the data they need and data is critical - that which gets measured, gets done! We don't need a consultant to help us with this. It's pretty basic stuff. The concept for this is simple. Implementing it is tough. The toughest part is getting buy-in from the relevant people. Among other benefits, consultants can facilitate the buy-in process. Ultimately though, if your company has the resources and skill to do this in house, great! If you've never worked in this industry, how can you help us? We know this industry better than anyone. One of the greatest values we can provide is helping to facilitate the strategic process. Our experience helps us draw on examples from outside your industry, which often spurs innovation in your company. We can help define a process for devising and executing strategy, as that process is common to all businesses. My boss doesn't typically go for this kind of thing. This process only works with the support of the head of your company. While the CEO's time commitment to this process typically fits into his or her current schedule, that person needs to assure that the rest of the company buys into the program. Without that commitment the performance management process won't work. We've found that once most managers commit a few minutes to understanding the basics of performance management, they quickly become supporters of it. I understand the need for a high-level scorecard. How does that get translated to staff? Senior management, including the CEO, will sign-off on a scorecard for the overall business. The next step is to cascade that scorecard down and throughout the organization. This is done in an organized fashion. First the CEO's reports create scorecards for their divisions that indicate what they are doing to generate the results for the overall scorecard. That process is then repeated until all employees know what they are contributing to the overall scorecard. What do you think of the book Execution by Bossidy? Execution is important for a number of reasons. Because it has been so popular it has made people more aware of what execution means and why it is critical. Bossidy also outlines a high-level system for monitoring execution which is quite useful. What we do with our clients complements the concepts in the book in that our efforts are to realize all the things that Bossidy espouses. What books/resources can you recommend if I wanted to learn more about it? Some of our favorites include: Balanced Scorecard: Step by Step by NivenBalanced Scorecard by Kaplan and Norton The Strategy Focused Organization by Kaplan and Norton You can find a number of articles by searching for Balanced Scorecard or performance management at www.hbsp.com. Does performance management and Balanced Scorecard apply to small companies? The concept is relevant to a business of any size. The way the system gets developed and implemented is different for small companies. It is harder for a smaller company to assign the resources and they often lack formalized strategic planning departments. Our expertise is in adapting performance management and Balanced Scorecard to smaller businesses. What can you send me? We have a variety of materials designed to familiarize you with our process. Please contact us at Inquiry@A2Xconsulting.com for more information. How can you guarantee results? We can guarantee results because we are confident in our ability to deliver. This confidence is based on our experience. This confidence allows us to adapt our fee structure. Consultants typically bill based on the number of hours worked. Our payment is tied to our ability to satisfy your criteria for success. How quickly will we see results? You'll see some results within the first three months, such as reductions on your electric bills. Some early benefits include:
We don't have the money to invest in this? We understand cash flow and are skilled at identifying projects with a short payback period and a high return on investment. We will tie our compensation directly into your success so your risk is minimal. Where are the best places to start? The best place to start is to use sustainability as a lens to look at the various aspects of your business. Through building awareness, your team will start to solve problems, save money and create revenue opportunities. There are a myriad of state and federal incentives offered for the purchase of countless energy efficient products. Please read more about them in our incentives section. In addition, we will conduct an energy audit of your business, that will provide you with detailed information about how you can cut energy costs and improve efficiency in your organization. How do I get my employees involved? We will help you develop an energy awareness campaign that will educate and inspire your staff to collectively participate in conserving energy and reducing waste. It is a fun, teambuilding program that galvanizes your staff to make a significant impact in your workplace. We'll teach you how you can reduce your carbon footprint as that plays an inegral role in helping you determine where you can conserve. Once the staff sees positive results, the program typically runs on its own, with support from us as needed throughout the process. How do I learn how to purchase green, energy efficient products? We will advise you on your energy efficiency purchasing ranging from eco-friendly office supplies to energy efficient HVAC units. We will run training seminars for your staff so they have the tools they need to purchase for energy efficiency. |