For most businesses today, devising the right strategies and executing them in a successful manner, defines the level of their success in the highly competitive market. While most organizations employ qualified professionals to develop the most beneficial business strategies, they generally overlook the importance of so for the execution process. This is one of the major reasons why such business organizations falter in successful implementation of even the best of these plans. This problem can be easily overcome by hiring the services of renowned strategy execution consulting firms, which can help with the successful implementation of plans to ensure maximum benefits for the business. In order for affirm to be capable of handling the various challenges of strategy execution, it should be aware of the following five important aspects of the process. Identify And Align Strategy Projects : Each business organization has several projects going on at a single point of time. As such it is important for the strategy execution consultants to be capable of identifying the projects that can directly impact the success or failure of the plans and then align them with the policies that need to be executed. Each such project needs to be monitored for progress and performance and necessary modifications must be made to ensure that they help with successful execution of strategies. Make Proper Execution Decisions : Executing a strategy involves taking countless decisions on a daily basis in accordance with information obtained from various sources. As such the business excellence consultants responsible for making these decisions should be able to analyze the information in the right manner and understand its impact on execution policies. They also need to access the present business mood, general market scenario as well as the results expected after the execution of the specific plans. This information plays a vital role in ensuring that they make the correct execution decisions. Communicate Strategy Objectives : It is important for the strategy execution executives to not only have a clear understanding of the objectives intended to be achieved by specific plans, but also to be able to communicate the same to the business workforce. This helps the executives in extracting the performance level required for ensuring the successful implementation of plans and getting the desired results. Unless the workers involved in strategy execution clearly understand what needs to be done and why it needs to be done, executing it successfully is not possible. Reward Exceptional Performance : Like with any other aspect of a business, identifying and rewarding exceptional performers is an integral part of strategy execution. Such recognition helps in motivating the workers to perform and behave in a manner which is consistent with the execution process. In addition it keeps them focused about the objectives of the plan and drives them to improve their performance, which can help is better execution and enhancing overall business growth.
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Retained Executive Search – The Key To Building A Strong Leadership Pipeline Within An Organization12/28/2016 The role played by leaders in ensuring the success of any business organization cannot be undermined. At the same time it is not easy for a business organization to have enough leaders in the pipeline to replace the outgoing one in a smooth and hassle free manner. It is with a view to overcome this problem that a number of organizations are seeking the services of retained executive search firms in India to ensure that they do not have to keep a leadership position vacant for long due to the unavailability of the right professionals to take up the associated roles and responsibilities. In fact, many experts believe that hiring the services of such search firms is the key to building a strong leadership pipeline within the organization itself. This concept can be better understood by considering the following benefits offered by a company offering the services of retained executive search. Help In Hiring The Right Talent : A professional search firms helps the client organization in hiring the right talent in terms of the quality of candidates. These firms focus on providing their clients with candidates who are looking for long term sustainability within the organization, are capable of handling different roles at different levels, and are flexible enough to adapt to the changes in the organization policies from time to time. These are the basic attributes identified in prospective candidates considered suitable for taking up leadership roles in the future. Help The Business Organization Mould The Candidates : The executive search firms also help the client organizations to develop a right perspective towards the prospective candidates so that they can be prepared to fit the leadership roles in future. The firms help the business organizations understand the core competencies of the candidate, besides helping them develop the leadership and decision making style preferred by them, as well as integrating the fundamental motivational sources of the candidates with the nature of their job. Provide Assessment Tools : Most professional retained executive and leadership consulting firms provide their client organizations with diverse assessment tools to help them analyze the competency of the candidates. These tools are designed in accordance with the business needs and processes of the client organization and help in highlighting the skills that the clients seek in their future leaders. The identification of the right candidates and their abilities helps the management to focus on developing the same in a streamlined manner. Better Planning Of Resources : Being aware of the core competencies of the work force makes it possible for the management to devise more effective ways of using the existing resources. This means that the management is able to not only identify potential leaders but also the employees who can take on the role of the support team to help the leaders carry out their responsibilities in an efficient manner. “When people are financially invested, they want a return. When people are emotionally invested, they want to contribute.” – Simon Sinek No workplace can ever succeed if its employees are working solely for money. Till the time they do not get emotionally attached to their work, the efficiency would be less that 100% no matter what. Bonuses and increments are not enough to engage your employees all year round. Employee management is a crucial part of the company strategy and many companies nowadays are hiring Employee engagement consultants to do this job for them. As People Management Consultants, we have worked in wide number of situations. Today, we would like to share some of our experiences with you. We have come up with 4 things you should do in order to gain employee engagement in your company. 1. Assigning Work In Innovative Ways - Many people says, just assign interesting work to all your employees and they will be very happy. So, I want to ask a simple question to such souls. Should we eliminate the repetitive and boring work altogether? Anybody who owns a company knows very well, this is not possible. So I would say, you should rather assign a mix of work that is redundant and boring work sandwiched in two interesting tasks. This could help increase employee engagement without compromising on any work at all. 2. Lunch-ons - This time could help you connect with your team/employees in an informal way. You can talk about their hobbies, what they do in their free time, what other skills they possess. This would help you create a personal connection and also you can use this informal knowledge in deciding the work for a particular individual. 3. Walk-Around In Your Office - Like it is your living room (literally). Anybody would be more comfortable in an environment which feels like home. If you will be away from employees in your glassed cage, how will you ever be able to pose yourself as a role model and thus motivating them to be like you one day. Our surveys have proven that this small exercise helps a lot in increasing employee engagement. 4. A Thank You Can Go A Long Way - Whenever you ask an employee to do some work for you, even though he is being paid to work for you, a thank you with a smile can go a long way in boosting his morale and his respect towards you. He/She will feel important and hence would work with a great enthusiasm. In the current situation of the world economy, the companies are facing a major crunch to hire senior talent and decision makers. The multiple factors such as relocation, compensation, superiority and even their comfort in current role have made it strenuous to encourage senior talent to pursue new opportunities. To ensure the success of a business, employers have to ensure the presence of right talent in place. The desideratum of senior executives is not only financial augmentation but also to satisfy the psychological and self-recognition needs. This has made it difficult for employers to retain their talent. The role of the Executive Search firm becomes really important but tremendously challenging to find the befitting candidate for the Clients. Collated are a few obstaclesfaced by Executive Search firms 1. Clients Want to Hire with a Quick Turn-around time but have Ambiguity in their Requirement Clients these days require a Search firm to hire a senior management team member in a short time but do not have clarity on the hire needs. This pushes the client to change the role requirements multiple times during the search period. 2. Clients are too Reluctant to market the role and their Organization which makes the Candidate a Little Apprehensive In a few cases, Clients who don't appreciate that search is a collaborative process and also requires adequate selling, end up losing potential candidates. Due to the superior feeling of the Client, the candidate is taken aback. Also, by the interrogating one way style of the interview,the candidate loses confidence in the organization to work. 3. The Best Candidates Are Reviewing Multiple Offers The dilemma with Candidates is that,as they are actively looking out for a change, they are pursuing multiple opportunities to find the best proposition for themselves. The deciding criterion is no more the benchmark they set in terms of remuneration for themselves but also the growth prospect, designation increment, a challenging opportunity, a company with a good brand name and multiple other factors. 4. High Expectations of Candidates Even with a challenging Economy where the internal increment has been restricted to 8-12%, the candidates are looking for increment of 30-50% to switch their jobs. This makes it difficult for the Search firms to convince the candidate not to be pricey and consider the intangible factors and other benefits. As the companies are becoming Techno savvy, they are also using their internal network and referral programs to reduce their costs of hiring. But to find the right person from the industry and cast the net wide, they require an executive search partner who is cognizant of the market and can head-hunt the best candidature for the role. Therefore, in the war of Talent, the executive search firm tries to create a win-win situation for the Client and the Candidate. It has to be a collaborative effort from both the parties as they are in need of each other. The Client wants the befitting talent to grow the company even in the stressful economy and thus would need to push a little to give the Candidate a feel-good factor to accept the offer. On the other hand, the Candidate is also looking for his growth prospect and needs the Client to help him move to the next level. That’s where the Executive Search firms work as the mediator to make the marriage work. |
AuthorCornerstone India is a leading player in CXO Search, Board Search for Independent Directors and Leadership Advisory services. Archives
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