January has gone by quickly. Are you making headway with delivering the target performance for the year? Some companies set audacious goals while others choose to raise the bar with steady increments. Regardless of the target level, business leaders need to ensure that their teams have what they need to reach the targets.
There are five areas where you could help:
Many consider this to be trivial but the key is to ensure that money is made available and invested in areas that would make the biggest impact. There needs to be a clear and impartial process to review the cost and benefits of each proposed investment. Spending money in a generic promotion campaign is not effective. Similarly, allowing teams to invest in random niche applications that are incompatible with other tools in the company leads to integration problems and workarounds.
The right expertise has a significant effect on success. Energy is spent on the most effective approach resulting in speed, better outcomes and morale. On the contrary, team members could be spinning their wheel when they need to learn through trial and error, which might not be the ideal approach for critical work. Place good people with the appropriate expertise to match up with needs.
Most companies use quite a few tools in running the business. These tools include sophisticated applications, basic spreadsheets, and manual mechanical tools. Revisit how these tools are deployed and verify whether they are used optimally. Check that the advanced functionalities are not forgotten. If a slight modification would eliminate tedious manual tasks, invest the necessary resources to ring in the productivity improvement. Bite the bullet to replace an antiquated tool when it is justified.
The quality of work is determined by the effort committed. An ambitious target logically demands more effort. There needs to be a mutual understanding of how much effort is needed. If a major initiative is required, the team could either focus on the major initiative or allocate time for the initiative whenever it could be accommodated. As there is a limit on the capacity available to take on additional work, it is wise to assess the workload and reassign work when the situation calls for it.
This includes acting as a sounding board when there are problems and things go off tangent. There will be unexpected situations that could make the target far from achievable. Realignment of resources might be necessary. Providing a venue for the team to seek direction and support boosts confidence and commitment.
If you are able to integrate the consideration for finance, expertise, tools, capacity, and support in a cohesive manner, you would propel your team to attain the target with a positive mindset.