Mistakes today seem costlier than ever. While that might not necessarily be the case, the pace of business seems to exacerbate every misstep, making it harder for organizations to recover.
The worst part for many organizations is that so many mistakes are avoidable. It just requires a little forethought and planning on the front end, but too often, leaders are focused on the immediate results, and they fail to take a longer-term view of the opportunities before them.
Experiences both inside and outside of the office are changing the employee experience and redefining how companies create — and retain — successful teams. Employers should take notice. Replacing an employee can cost upwards of 33% of their annual salary, according to Employee Benefits News, and Gallup estimates it costs businesses at least $1 trillion annually.
The work experience and team structures are changing, and personal preference is driving how, when and where employees work, ushering in the people-first era. Companies will need to adopt new methods to engage with all employees on their terms.
In my experience, there are five mistakes organizations routinely make, particularly as the world is moving into the people-first era. More importantly, here are simple ways organizations can avoid repeating these gaffes.
Organizations Often Lack Vision
So many problems can be traced to a common misstep: organizations often lack a vision. It almost seems unconscionable this day in age, but without one, team members are not working toward anything, making it hard to quantify success. It’s not limited to small organizations or start-ups; there are large organizations with household names that many would consider “successful” that don’t have a clear vision.
Sadly, according to research from Gallup, a mere 13% of employees strongly agree that their organization’s leadership effectively communicates. Equally disappointing is that only 15% strongly agree their organization’s leadership makes them feel enthusiastic about the future. Given the fact that these types of leaders are stacking the decks against their businesses, it should come as no surprise that just one in three (34%) are engaged.
Remedying this requires a measure of honest self-reflection on behalf of a company’s top brass. Once they recognize the need, they can take action to develop and convey the vision and ensure the team is on the path to success.
Businesses Have a Solution in Search of a Problem
We live in an exciting time. New technologies hit the marketplace daily, but there is a downside to this level of development.
In looking at the readiness for Industry 4.0, which is the trend toward automation and data exchange, Deloitte found more than a third (35%) of leaders cite too many technology choices as one of the top three challenges hampering preparedness.
It’s far too easy to follow the market. By this, I mean too often companies will watch their competition, and take action when their competitors do.
Decisions must be intentional. They must serve a purpose. No one should ever implement a solution for the sake of it. Instead, organizations must identify the problem they need to solve and find a tool that helps them accomplish their goals.
They Don’t Put the Right People in the Right Roles
It’s hardly an original thought to say an organization is only as good as its people. But, what I can’t figure out is why companies are so bad at managing their talent. It is all too common for organizations to put people in roles that aren’t right for them.
The best path to success requires putting the right people in the right roles — and empowering their success. Ensuring future success is something that should be intentionally addressed during the onboarding process.
Setting expectations at the beginning will help ensure the entire team is working toward a common and clear goal.
Leaders Too Often Think They Know Everything
For too long, organizations turned to know-it-alls to lead the institution, mistaking their confidence for competence. These people blindly power forward, thinking they know best.
They are often successful for some time, but eventually, the world will catch up to them, and when it does, their teams will leave for greener pastures, and their competitors will surpass them all because they were too prideful to recognize they could still learn as a leader.
But, the world is changing. The workplace expectations are changing, and employees today want — and expect to have — a voice. A voice in day-to-day decisions and empowered to contribute to the long-term vision and organizational objectives.
They Neglect to Listen to Employees
An organization’s employees are its eyes and ears on the ground, and they are quite often the face of the company to the general public and to customers. So, as we enter the people-first era, leaders must treat them for what they are: experts.
Managers, according to a recent Gallup survey, are “uniquely positioned to be the one person in the organization who unlocks purpose, especially for younger generations.” Workers are seeking guidance and direction.
It is unfathomable that anyone neglects to listen to employees. It takes little time — certainly less time than trying to hire replacements for neglected team members who depart— and doesn’t have to cost any more than a cup of coffee.
How are you planning to focus on your team and avoid mistakes by putting people first?
