This is the first of three blog posts in a series on performance based culture. In this series Jennifer Turner and Marie Thompson, leaders from our Human Resources and Talent Development groups, discuss three pillars to developing an engaged and high performing workforce.
How do leaders of an organization create an environment to support a performance based culture? Creating the culture requires a well thought out plan, incorporating an approach that begins at the top of the organization and cascades throughout the entire organization. It requires leaders to clearly communicate their vision and values for the organization, leverage the strengths of their teams and talent and provide corporate resources and tools. An organization focused on all three imperatives will have an engaged and high performing workforce positioned to achieve corporate goals and results.
In this first post, we’ll discuss communicating a clear vision…
Leaders in a performance based culture are able to clearly communicate the corporate vision and strategic initiatives of the organization. These leaders set clear expectations and department goals so each associate knows how the work of their teams contributes to the organization achieving their intended business results.
Instituting a Performance Management Process provides associates and managers with a roadmap to achieving departmental goals and developing talent. At Boston Financial we have a five-step collaborative process that starts at the beginning of the year when strategic goals are cascaded throughout the organization. Individual Performance & Development Plans (IDPs) are created to outline “WHAT” the associate will do to contribute to the corporate goals. In addition, leadership success factors guide associates on “HOW” they need to do their job in order to be successful. These leadership success factors illustrate what the company values. At Boston Financial we have aligned our leadership success factors into five key competency areas: Deliver Results, Collaborate and Partner across Teams, Know the Business, Model Integrity and Continuous Learning & Self-Management. Areas of development are identified and appropriate training and skill-building are made available. Throughout the year managers provide feedback and coaching to associates on their progress towards their goals and development.
Performance incentives are also available to reward, recognize and motivate individuals and teams. Managers are empowered to award spot bonuses and many teams have created department-specific peer recognition programs. Outstanding individual contributors may also be nominated for the Sterling Award, a quarterly program that has a personal monetary component as well as a charitable contribution to the charity of the associate’s choice. Many of our associates have also been recipients of awards sponsored by several of our clients through their own recognition programs.
Stay tuned next week for part two of this series where we’ll discuss leveraging your talent’s strengths.