Is Your Business Ready for a 4th Quarter Win?
By Ann Close, Close HR Connections
AS WE CELEBRATE THE START OF FOOTBALL SEASON, WE know one indication we’re in the 4th quarter of a game is when coaches and players alike hold up four fingers to signify it’s the 4th quarter. It’s a reminder that it’s time to finish strong and win the game.
The 4th Quarter Assessment
As a business leader, your 4th quarter also means it’s time to finish strong and accomplish what you set out to accomplish. So, like a football coach, you need to take a quick assessment of the first three quarters of 2017 – both the wins and losses – and decide what game plan adjustments you need to make to your team/employees in order to finish successfully. These adjustments may also include changes to the company budget, cost reductions, profit margins, and focusing your team on the clients who truly fit your core business.
As any coach finds from season to season, team strategies change and with that some players no longer fit within the team framework. It’s important to consider the direct and indirect costs that a poor performer can have on your team and your customers:
• Strain on valuable company resources – people, time, and money.
• Hardship on other team members as they attempt to pick up the slack from the under-performer.
• Turnover of valuable team members who become frustrated and burned-out, keeping in mind that replacement costs can be between 30-50% of the base salary of the open position.
• Loss of customers and/or costs related to fixing customer dissatisfaction issues.
• Legal expenses surrounding complex employee relations issues.
As we head into the 4th quarter of 2017, tackle team talent acquisition, engagement, and management responsibilities head on. Invest the time, effort, and money into building a successful team. Doing so will
result in transforming a good company into a winning company.
As Bear Bryant used to say, “Tough teams win the 4th quarter.” Is your team/business ready to win the 4th quarter of 2017?
So, what does team management look like for your business?
It’s taking a solid look at:
• Skill gaps that might require the addition of team members.
• Nagging concerns ranging from attendance to productivity and team work to customer service issues.
• Addressing poor performers.
• Rewarding key team members.
4th Quarter Game Plan
• Address the issue(s).
• Make necessary adjustments.
• Develop/revise goals.
• Communicate/document expectations.
• Provide regular feedback.
• Document progress.
• Make the tough calls that are in the company’s best interest.