Human Resource Consulting Services Newsletter

February 2004 – Keys To Business Success

Every highly successful organization has at least one common attribute which is crucial to its long term success and growth. The best of the best in any industry or line of business know that they can only maintain their competitive advantage and continue to grow because they have harnessed the minds, energy and commitment of their people. These highly profitable organizations have learned that the key to success lies in employee engagement and alignment. Some describe this strategy as "getting people to act like owners of the business". Other organizations describe this as "employee involvement" or "quality improvement". The strategy, regardless of how it may be described, has certain key concepts in common. Here is a brief formula for success:

1. Train your people to understand the business. This is often the most critical, yet overlooked key to success. How do you expect your people to act like owners if they don't understand what drives your business? Employees at any level of the organization need to know about your customers, products or services, the business plans and goals, and the organization's mission and philosophy. They also need to understand how their job impacts expenses, profits, quality and customer satisfaction.
2. Communicate with your people. Top management must maintain an open and regular dialogue regarding the business and other issues which affect your industry and your people. Be willing to share both the good and the bad news. Most people have a need to feel involved. Allow your employees the opportunity to feel like they do make a positive difference by exchanging information and ideas.
3. Align your goals and objectives throughout the organization. Make sure that everyone understands your long and short term business goals and targets for success. If customer satisfaction is key to success, make sure every stakeholder has the commitment, the tools and the incentives to deliver customer satisfaction.
4. Hold all of your stakeholders accountable for results. Usually its only the owners and management people who are accountable for business results. Why not allow everyone in the business some level of personal accountability for their contribution? This can be accomplished in any number of ways; through performance appraisals, gain-sharing, profit-sharing, bonus plans or any other number of recognition programs. The key here is to reward and recognize those people and groups who deliver positive results!

The top organizations, those that set the pace for their competition, know these keys to success work and they are far more important than technology, physical assets or financial backing. Without the commitment, energy and intellect of your people, no business can survive in today's competitive environment!

David Swan, President
Human Resource Consulting Services
13879 E. Saratoga Dr., Suite 101
(Tel) 303.400.1510
(Fax) 303.400.1509
(Cell) 303.870.3554