According to Jack Welch, former CEO of GE and Executive Chairman of The Jack Welch Management Institute, the three most important metrics to measure the health of your business are employee engagement, customer satisfaction, and cash flow. Welch says that which each of these is important, the latter two are difficult for an individual to change quickly. However, employee engagement is something that is in the hands of every leader, every day—whether you’re managing one, ten, a thousand, or ten thousand.
Welch recommends the following exercise which should really help get everybody on the same page, not just in January but monthly for the first quarter and then quarterly. Begin thinking through the means of improving your employees’ engagement.
Ask yourself these questions:
1. Has my team really bought into the mission?
2. Do they understand where we’re going, and why we’re doing what we do to get there?
3. Equally important, or perhaps more important, have I made it clear to them what’s in it for them when we get there?
4. Am I celebrating their achievements, reaching the milestones we’ve established?
5. Am I coaching them in a constructive manner so that they feel I have their back?
6. Do they always know where they stand?
7. Have I given them the freedom and the authority to raise these same questions with their team?
He further recommends measuring employee engagement sometime during the year and ask the following question: Do you experience in your “everyday work” the message that management is preaching in meetings, speeches, and annual reports? Welch believes that question gets at the issue of whether management is walking the talk or just blowing smoke.
[Via LinkedIn Pulse Blog]
The Talent Management Institute has developed an integrated talent eco-system that can solve the engagement and retention problem. Click on the following link to learn more about TTMS and get a free copy of the special executive report, “Fully Engaged Top Talent: Key to Excellence for Knowledge-based Enterprises.” www.talentmanagementinstitute.com