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The 80/20 Company Checklist

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!

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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?

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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?

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Yes ______ No _____

3. Does the Company have a Communication Plan in place that is a dialogue and not a monologue?

Yes ______ No _____

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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?

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Yes ______ No _____

6. Does the Company have sufficient Recognition and Rewards Programs for “above and beyond” behavior?

Yes ______ No _____

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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?

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Yes ______ No _____

9. Does the Company conduct quarterly Performance Improvement Sessions that include Improvement Programs for each Employee?

Yes ______ No _____

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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?

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Yes ______ No _____

12. Does the Company adequately recognize and reward Core Employees (those Employees who consistently perform at 110%)?

Yes ______ No _____

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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.

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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™.