My offer to send out “The 80/20 Company Checklist” generated enough interest to make it this week’s topic. I define successful organizations as 80/20 Companies. In an 80/20 Company, 80% of what Management does is spot on and, as a results of treating Employees appropriately, these special and very rare Companies generate high performance, high productivity and high profit. 80/20 Companies also constantly work to improve the other 20% of their organization because they know that in the time of the WorkQuake™ being an 80/20 Company is not good enough! I use the following criteria to determine if an organization is an 80/20 Company. Any Company answering “Yes” to these 13 Questions is an 80/20 Company. Does your Company make the cut?
1. Does the company include Department’s Front Line Leaders in the hiring process?
Yes ______ No _____
2. Does the company have an “On Boarding Program”, which includes coaching and mentoring, to inculcate new Employees into the company’s culture and turns them into Core Employees?
Yes ______ No _____
3. Does the Company have a Communication Plan in place that is a dialogue and not a monologue?
Yes ______ No _____
4. Does the Company have an adequate Compensation Plan primarily based on Individual and/or Work Team Performance?
Yes ______ No _____
5. Does the Company provide a sufficient Benefit Package (health care, holidays, vacation, etc.) to its Employees?
Yes ______ No _____
6. Does the Company have sufficient Recognition and Rewards Programs for “above and beyond” behavior?
Yes ______ No _____
7. Does the Company conduct annual Employee Focus Groups, Satisfaction Surveys and 360 Degree Reviews?
Yes ______ No _____
8. Does the Company provide Training and Development Programs, including coaching and mentoring, for Supervisors, Managers and Front Line Leaders?
Yes ______ No _____
9. Does the Company conduct quarterly Performance Improvement Sessions that include Improvement Programs for each Employee?
Yes ______ No _____
10. Does the Company have a Continuous Operational Performance Improvement Program that encourages Employee participation in the innovation process?
Yes ______ No _____
11. Does the Company get rid of “The Others” (Employees who should have been terminated yesterday) as soon as they reveal themselves?
Yes ______ No _____
12. Does the Company adequately recognize and reward Core Employees (those Employees who consistently perform at 110%)?
Yes ______ No _____
13. Does the Company treat all Employees with Respect and Dignity?
Yes ______ No _____
The Bottom Line: Companies that are not 80/20 Companies will not thrive in the WorkQuake™ of the Knowledge Economy.
Question: Is your Company an 80/20 Company? If not, why not?
Paul Glover, President Go to www.trainingeverydayleaders.com for more information about how to be an 80/20 Company in the Time of the WorkQuake™.