If the Federal Reserve considers a base unemployment rate of 5.0 - 5.2 percent as "full employment" then what is the current 4.1 percent, "over-employed"? I bet you don't feel over-employed! Most of the business owners I know are desperate to find and keep skilled talent. Often the success of their business goals is tied directly to their ability to put the right people in some newly created seats. So what do we do when we've looked under every rock, offered ridiculous finders fees and yet still feel like we're scraping the bottom of the barrel?
Huh, did I really say we stop looking for talent?
Yes, yes I did.
You see now is the time to call the "Philly Special." The play that no one expects. The perfect call when our backs are against the wall but we need to keep moving forward. The trick play that I'm recommending is for you to turn all of your attention inward and begin to create levels of productivity that no one in your industry thinks is possible. They will never see it coming!
Imagine being able to provide the same value as your competition but with only 80% of the effort. What if you could do it with half? Let me show you three practical ways to start your productivity journey so that at the end of the game you've not only won but you had the guts to do what no else thought was possible.
#1 FOCUS -> In EOS we say "Less is More" likely a thousand times to our clients. But Gerald Weinberg illustrates this simple concept in what he calls "Loss due to Context Switching." Basically the more projects you have to juggle the less productive you will be.
Based on the chart above you could see a 25% increase in productivity just by reducing the number of active projects from 5 to 3! I recommend you learn the power of Rocks, a simple yet practical 90-day rhythm for focusing on the truly important.
#2 EXECUTE -> Did you know that more than 90% of strategic plans are not successful? The reason most often cited is a breakdown in execution. Yet companies who are better than average in execution claim to accomplish 20% more of their important objectives. I recommend utilizing our one page V/TO tool to ensure that everyone in your organization is aiming their energy in the same direction. Amazing things happen when everyone is rowing together.
#3 MEASURE -> You may have heard the old cliche: "What gets measured gets done." But there is so much more power in measurables. Imagine if everyone in your business had at least 1 number that related directly to their definition of success for the week. Gino Wickman, in his book Traction, highlights these 8 benefits.
Numbers cut through murky subjective communication between manager and employee.
Numbers create accountability.
Accountable people appreciate numbers.
Numbers create clarity and commitment.
Numbers create competition.
Numbers produce results.
Numbers create teamwork.
Numbers solve problems faster.
I would imagine that even if you realized one or two of these benefits you would see dramatic increases in productivity. All 8 should lead to another double-digit increase in your ability to get stuff done!
Focus. Execute. Measure.
Sounds simple enough yet everyone is focused on finding more or better talent. If you are like this imperfect leader then the motivation to hire over improve is simple enough, It's based on responsibility. Dr. Deming notably led us to the 94/6 rule which states that problems in a business can be traced to the system 94% of the time and only 6% to people. But he then goes on to state that it's the leaders, not the workers who are responsible for the health of the system. Which leads me to this imperfect insight.
If you are blaming your problems on a lack of talent then you are
shirking your responsibility as a leader to steward what you have.
Don't be like everyone else. Invest significantly right now in a system that organizes all the human energy at your disposal. While your competition is busy covering all the potential talent search options, you'll throw the unexpected Philly Special touchdown pass and surge ahead with higher productivity, stability, and profitability!
A System to Safeguard us from our imperfections...
EOS is designed to help you organize all of that human energy. It harmoniously orchestrates the day to day so that you can run a better business.
The Entrepreneurial Operating system is designed to help owners get more from their business. Trust the system that has been used by over 50,000 businesses to help you build value despite our vulnerabilities.
EOS is Real. Simple. Results.
Ready to share what's holding you back? Email me for a free consultation at firstname.lastname@example.org or call me at 717.502.2084.