From the monthly archives:

May 2009

Are Your Benefits Still Beneficial?

May 25, 2009 · 0 comments by Terry Lauter Comp

36750362 The recession has taken its toll on many components of employers’ total rewards packages in recent months. While some of our client organizations have implemented minor benefit tweaks, others have implemented hefty increases in employee contributions for benefits and cancelled 401(k) matching. There is no one simple solution or pat answer, to be sure. But one thing that is clear amidst the clamor is that an effective communication plan is needed, no matter what your message is.

Clearly, the organization is well advised to make prudent benefits adjustments if they are needed to keep things afloat. The point we make is to do so in a thoughtful manner that will not result in unintended consequences. When it comes to the company’s Benefit Plan, you may be planning to raise deductibles, co-pays, or out-of-pocket maximums; eliminate some medical plan choices, or increase employee contributions to make ends meet. If so, the most critical thing to remember is that honest communication is key. Employees will be well positioned to react to your announcement when you give them the information they need to understand why you are doing what you are doing. Be as transparent as you can about the changes–let your team members know how much the company spends on benefit programs. We are constantly reminded that most employees in many organizations have no idea how much their company is spending on benefit programs until they leave and get a glimpse of COBRA premiums…shocking! And if the perceived value of the benefits is low, then you are not getting the bang for your buck, no matter how much your organization is spending.

Entitlement is still alive and well in corporate America, even in the midst of these tough times. But to change that mindset, it is clearly the employers’ move. Honest and straightforward communications will carry you far in gaining employees’ interest and respect. Benefit Plans still have value, in spite of the changes many organizations have been forced to make. Make sure that you do whatever it takes to get the message out!

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Working Smart: Focusing on the Vital Few

May 22, 2009 · 0 comments by Larry Comp

in Business Strategies, Management, Performance Development, Supervisory/Leadership Training

paretochart1 We all see so much wasted time at work, that I am always amazed to hear that the U.S. is one of the most productive nations in the world. Busy-ness seems to be replacing effectiveness as people go to endless meetings and spend hours sending and receiving emails.

Every once in awhile, I have to remind myself of the Pareto (80/20 Rule) Principle that states that 20% of what you do contributes to 80% of your effectiveness. You can apply this principle to various aspects of your business. For instance, 20% of our customers yield 80% of our revenue and 20% of our customers yield 80% of our profit, but not necessarily the same 20%.

We have a small group that meets at our home on most Sunday evenings. Last week, we all admitted that we seem to get wrapped up in busyness and are far less effective than we could be.

How are you spending your time? Are you focusing on the vital few areas that make the biggest impact…or on the trivial many?

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What is Your Unmatched Customer Value Proposition?

May 21, 2009

Have you noticed that it is getting harder and harder to compete in today’s marketplace? As customers demand and expect more, we must ensure that we offer an unmatched value proposition to our target customers. In the book, “The Discipline of Market Leaders,” the authors explain that there are 3 key value proposition models and [...]

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Simplify Your Mission, Vision and Values

May 20, 2009

A large number of companies develop their mission, vision and values as part of their organization’s strategic planning efforts. Unfortunately, many of them fail to achieve a solid return for their efforts. Three reasons for this are: (1) they are unclear about the difference between mission and vision; (2) they fail to engage their employees [...]

Getting Everyone on the Same Page

May 15, 2009

Over the years I have noticed that most companies do a pretty ineffective job of strategic planning. We all know how important strategic planning is to the long-term viability of an organization, but what’s really going on here? Well, many organizations never seem to get around to tackling this critical function. Others take a handful [...]

Peter Drucker Nailed It!

May 13, 2009

Several years ago, I had the privilege of hearing Peter Drucker, the “Father of Modern Management,” speak. At the time, he was already very old and nearly deaf, and didn’t seem to realize he was almost speaking in a whisper. The audience, however, was in total awe…and you could have heard a pin drop. I’ve [...]

Unlearning Lots in A Brave New World

May 11, 2009

You could easily accuse me of being a bit “over the top” about lifelong learning. I practically live for new books, new ideas, stories and concepts that I’ve never been exposed to before. Truly, I belong to the “cradle to grave” school of philosophy about the importance of continuously taking your education to a new [...]

Be a Value Builder

May 8, 2009

Several years ago, I was reviewing some Audio Tech Book Summaries and learned that organizations tend to fall into 4 operating profiles. These profiles are largely influenced by the Chief Executive.
The first profile is Underperformer and this is the worst. In this case, the organization lacks adequate focus on revenue growth or cost savings.
The second [...]

Key Business Strategies to Fuel Your Growth

May 6, 2009

Some organizations seem to operate without a business strategy, while others have way too many. We have guided many of our clients to focus on a half dozen, specifically:

Focus on profitable growth. Seems pretty basic, but it’s amazing how many companies experience declining profits, while their businesses are actually growing!
Start with the market and work [...]

What Can the Grateful Dead Teach Us About Business?

May 4, 2009

Each morning, when I turn on my computer, I am greeted by a new inspirational quote. Most of these are thought-provoking and I have saved hundreds of these gems over the years.
Surprisingly, one of my favorite quotes comes from Jerry Garcia of the famous 60s Rock Band: The Grateful Dead. I’ve seen a number of acts over [...]

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May 2009

Are Your Benefits Still Beneficial?

What is Your Unmatched Customer Value Proposition?

Simplify Your Mission, Vision and Values

Peter Drucker Nailed It!

Unlearning Lots in A Brave New World

What Can the Grateful Dead Teach Us About Business?

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