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SELECT TO BE SUCCESSFUL WHILE ENJOYING PROFITS!

SELECT TO BE SUCCESSFUL WHILE ENJOYING PROFITS! First, Break All The Rules How do the Best Managers Build a Great Place to Work? Search for what the best has in common! Gallup interviews with 80,000 Managers around the world. Conventional Wisdom Select for skills Define the right steps

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SELECT TO BE SUCCESSFUL WHILE ENJOYING PROFITS!

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  1. SELECT TO BE SUCCESSFULWHILE ENJOYING PROFITS! First, Break All The Rules Value Pawn & Jewelry/Gallup Studies - 2002-2007

  2. How do the Best Managers Build a Great Place to Work? Value Pawn & Jewelry/Gallup Studies - 2002-2007

  3. Search for what the best has in common! Gallup interviews with 80,000 Managers around the world. Value Pawn & Jewelry/Gallup Studies - 2002-2007

  4. Conventional Wisdom Select for skills Define the right steps Help each person to overcome weakness Help each person learn to get promoted Gallup Study Results Select for talent Define the right outcomes Focus on each person’s strengths Help each person find the right fit What to look for…..The 4 Keys Value Pawn & Jewelry/Gallup Studies - 2002-2007

  5. First Key of Great Managers • Do not select for skills and knowledge • Do select for TALENT Value Pawn & Jewelry/Gallup Studies - 2002-2007

  6. What causes someone to excel in a role? ……..skills? ………knowledge? TALENT ……the first of the 4 keys of Great Managers! Value Pawn & Jewelry/Gallup Studies - 2002-2007

  7. What & Where is TALENT? Value Pawn & Jewelry/Gallup Studies - 2002-2007

  8. Define Talent “Great managers define talent as being a recurring pattern of thought, feeling or behavior than can be productively applied.” First , Break All the Rules What the World’s Greatest Managers Do Differently (Simon & Schuster, 1999) Value Pawn & Jewelry/Gallup Studies - 2002-2007

  9. Understanding Talent • At 3 years of age, a child is flexible and active • 3 to 15 years of age, a child begins “pruning” ideas and concepts • 15 years of age and up, the child begins to build on a structured network of thoughts behaviors and ideas Value Pawn & Jewelry/Gallup Studies - 2002-2007

  10. 15 Years and UP A structured Network Begins Value Pawn & Jewelry/Gallup Studies - 2002-2007

  11. “Roads with the most traffic get widened. The ones that are rarely used fall into disrepair.” Dr. Harry Chugani, Professor of Neurology Wayne State University Medical School Value Pawn & Jewelry/Gallup Studies - 2002-2007

  12. There is a limit to how much you can rewire someone’s mind! Value Pawn & Jewelry/Gallup Studies - 2002-2007

  13. The World According to Talent Remember: Talent is defined as a recurring pattern of thought, feeling or behavior that can be productively applied. • Nothing Special about talent • People whose talents fit their role are special Value Pawn & Jewelry/Gallup Studies - 2002-2007

  14. The difference between ….. • Skills – Math is a skill • Knowledge – Factual/Experiential • Talent – All of the above along with the ability to apply the skill and knowledge in a productive manner. Value Pawn & Jewelry/Gallup Studies - 2002-2007

  15. Skills/Knowledge can be transferred from person to person Skills/Knowledge tend to be specific to the situation Talent is not transferable….so you must identify it when you have someone join your team Talents are transferable from situation to situation Talent is specific to the person Always select the right talent for the role Skills, Knowledge & Talent Value Pawn & Jewelry/Gallup Studies - 2002-2007

  16. Second Key of Great Managers • Do not set expectations • Do define the right outcomes Value Pawn & Jewelry/Gallup Studies - 2002-2007

  17. What Great Managers do: Define the right outcomes, and then let each person find their own route. Human Beings are Messy • Conventional Wisdom: “Wall “em in” “Let ‘em loose” Value Pawn & Jewelry/Gallup Studies - 2002-2007

  18. Three Rules of Thumb • Insist on steps when ACCURACY or SAFETY is involved. • Insist on steps when a company/industry STANDARD is at stake. • Don’t let the steps obscure the outcome. Value Pawn & Jewelry/Gallup Studies - 2002-2007

  19. Third Key of Great Managers • Focus on each person’s strengths • Don’t try to motivate someone into doing something well • They either have the talent to do the job or they do not Value Pawn & Jewelry/Gallup Studies - 2002-2007

  20. THE BIG QUESTION “What is the best way to improve one person’s performance?” It is not what you think………… Value Pawn & Jewelry/Gallup Studies - 2002-2007

  21. “Which do you think will help you improve the most? Knowing your strengths or knowing you weaknesses?” Value Pawn & Jewelry/Gallup Studies - 2002-2007

  22. FACT Those who choose to focus on their strengths and manage around their weaknesses are a minority in every country in the Gallup Study. The Gallup Organization Study - 2002 Value Pawn & Jewelry/Gallup Studies - 2002-2007

  23. Your child comes home with the following grades….what to do? Value Pawn & Jewelry/Gallup Studies - 2002-2007 The Gallup Organization 2002

  24. WHY?????????? ANYBODY CAN BE ANYTHING THEY WANT TO BE. Conventional Wisdom 101 Value Pawn & Jewelry/Gallup Studies - 2002-2007

  25. Conventional Wisdom • Development: Help people find their weakness and fix it • Rate the performance and develop the person • Spend time on weaknesses as needed • Focus on improvement areas • Rate the person next year Value Pawn & Jewelry/Gallup Studies - 2002-2007

  26. The best in a role all create the same outcomes, using different behaviors. Some behaviors can be learned. Many prove very hard to learn. (talent vs. skills and knowledge) Weakness-fixing prevents failure. Focusing on improvement areas will provide a temporary fix. Strengths-building leads to success. Gallup Research Leads to these Assumptions Value Pawn & Jewelry/Gallup Studies - 2002-2007

  27. Develop performance by rating the person Define required competencies Rate competencies Identify lacking competencies Encourage/train to improve in these areas Rate the person next year Rate performance and develop the person Define required performance outcomes Rate on performance outcomes Identify talents and non-talents Help the person strengthen talents and manage weaknesses Rate outcomes next year The Strengths-Based Organization Value Pawn & Jewelry/Gallup Studies - 2002-2007

  28. Fourth Key of Great Managers Help each person find the right fit! Value Pawn & Jewelry/Gallup Studies - 2002-2007

  29. Sooner or later…… Conventional Wisdom’s answer is : UP! Value Pawn & Jewelry/Gallup Studies - 2002-2007

  30. Flaws of the “Conventional Career” • One rung does not necessarily lead to another • It creates a shortage of respect and prestige • It actively prevents world-class performance in every role Value Pawn & Jewelry/Gallup Studies - 2002-2007

  31. Self-discovery is the driving, guiding force behind a healthy career!!!! Gallup Management Study – Value Pawn & Jewelry Stores - 2007 Value Pawn & Jewelry/Gallup Studies - 2002-2007

  32. The Four Keys of Great managers • Hire for TALENT • Define the right outcomes and don’t set expectations • Focus on each person’s strengths and manage around their weaknesses • Help each person to find the right fit Value Pawn & Jewelry/Gallup Studies - 2002-2007

  33. FIND THE RIGHT FIT!!!! • Self –discovery is the driving, guiding force behind a healthy career • Great Managers hold the mirror up to their people • They Create heroes in every role • Must practice tough love Value Pawn & Jewelry/Gallup Studies - 2002-2007

  34. REMEMBER…… • Conventional Wisdom is not always the best way to go • Identifying a person’s strengths is a win-win situation • Satisfied and productive employees are those who are in the right role! • Weaknesses are here to stay…deal with them. Value Pawn & Jewelry/Gallup Studies - 2002-2007

  35. NOW…… How well has this worked at Value? Pleased You Asked…. Value Pawn & Jewelry/Gallup Studies - 2002-2007

  36. Gallup Results • World Class in Customer Satisfaction – Most of Value’s customers are passionate about doing business with Value. • Better than 94% of Gallup Clients in Employee Satisfaction. • Most profitable on a per store average of the reporting pawn chains. Value Pawn & Jewelry/Gallup Studies - 2002-2007

  37. How can I do this? • Treat customers and employees alike as you would like to be treated. • Compensate employees well and expect top notch productivity. • Look for ways to get better every day. • Keep your store(s) neat, clean and always ready for you to inspect. • Play well with others! Value Pawn & Jewelry/Gallup Studies - 2002-2007

  38. Now, Break all the Rules and laugh all the way to the bank! Value Pawn & Jewelry/Gallup Studies - 2002-2007

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