PEOPLE PROBLEMS ARE HAVING A DESTRUCTIVE IMPACT ON YOUR BOTTOM LINE - PROPERTY FIRM PRODUCTIVITY CASE STUDY
August 28, 2017
It’s not lack of planning, failure to test the market or under capitalization that most often cause business failures, says Noam Wasserman, a 42-year-old associate professor at Harvard Business School. Instead, nearly two-thirds of early stage failures stem from people problems.
Sooner or later most companies experience problems with their employees that negatively affect morale, productivity, and eventually the bottom line. In any organisation, people problems in the workplace can have a dire effect on an organisation’s profits.
A “Team Strengths Audit” allows management to understand the underlying sub-conscious signature strengths that drive behaviour, including being able to measure individual productivity.
With a productivity score out of 10, a high score is crucial to be able to follow through and complete a project, close more sales or finish tasks.
Property Case Study:- Audit on Productivity
The following Case Study explains why a likeable sales person’s low productivity traits caused high costs to this high end property firm.
Role: Sales consultant Salary: $50k + Super + Unlimited incentives
After 6 months of no sales, the CEO decided to audit the strengths of the newest sales person. His high enthusiasm and optimism were contagious. The CEO and team had been very happy with the verbal forecast of the very likeable and presentable sales person and were caught up in his enthusiasm.
The Strengths Audit showed that his high optimism (Scores 8/10) and high energy (Scores 8/10) were driving the excitement and enthusiasm. With a Productivity Score of 3/10, his internal strengths DNA showed that he did not have an internal ability to strategize the steps, systems and procedures necessary to achieve the outcome.
The CEO changed his role from sales to marketing, hoping that a new approach would work. After another 7 months of no results, the person was let go, resulting in costs of $59,312.50 Salary + Training Costs + Disruption to the Office Costs + Lost Opportunity Costs. This was an expensive lesson that could have been avoided, because “hope” isn’t a great business strategy.
Don’t wait until people problems start having a destructive impact on your success. December is the best time of year to evaluate your team, define what must be addressed and go confidently go into the New Year with strategies that will ensure your business thrives, not just survives!
2017 is the year to Design your Dream Team with an “Ideal Champion Role Model” for every role!
Audit your team strengths – what are the DNA traits that your successful people have that can be emulated when hiring?
Design your future “Dream Team” based on the strengths of your best people as role models.
Create a permanent Dream Team Benchmark for your Ideal Role Model Champions. New hires must “match or exceed” their strengths scores.