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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

SELECT TO BE SUCCESSFULWHILE ENJOYING PROFITS!

First, Break All The Rules

Value Pawn & Jewelry/Gallup Studies - 2002-2007

how do the best managers build a great place to work
How do the Best Managers Build a Great Place to Work?

Value Pawn & Jewelry/Gallup Studies - 2002-2007

search for what the best has in common

Search for what the best has in common!

Gallup interviews with 80,000 Managers around the world.

Value Pawn & Jewelry/Gallup Studies - 2002-2007

what to look for the 4 keys
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

first key of great managers
First Key of Great Managers
  • Do not select for skills and knowledge
  • Do select for TALENT

Value Pawn & Jewelry/Gallup Studies - 2002-2007

what causes someone to excel in a role
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

what where is talent
What & Where is TALENT?

Value Pawn & Jewelry/Gallup Studies - 2002-2007

define talent
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

understanding talent
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

15 years and up
15 Years and UP

A structured Network Begins

Value Pawn & Jewelry/Gallup Studies - 2002-2007

roads with the most traffic get widened the ones that are rarely used fall into disrepair

“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

slide12

There is a limit to how much you can rewire someone’s mind!

Value Pawn & Jewelry/Gallup Studies - 2002-2007

the world according to talent
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

the difference between
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

skills knowledge talent
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

second key of great managers
Second Key of Great Managers
  • Do not set expectations
  • Do define the right outcomes

Value Pawn & Jewelry/Gallup Studies - 2002-2007

human beings are messy
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

three rules of thumb
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

third key of great managers
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

the big question
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

which do you think will help you improve the most knowing your strengths or knowing you weaknesses
“Which do you think will help you improve the most? Knowing your strengths or knowing you weaknesses?”

Value Pawn & Jewelry/Gallup Studies - 2002-2007

slide22

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

your child comes home with the following grades what to do
Your child comes home with the following grades….what to do?

Value Pawn & Jewelry/Gallup Studies - 2002-2007

The Gallup Organization 2002

slide24
WHY??????????

ANYBODY CAN BE ANYTHING THEY WANT TO BE.

Conventional Wisdom 101

Value Pawn & Jewelry/Gallup Studies - 2002-2007

conventional wisdom
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

gallup research leads to these assumptions
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

the strengths based organization
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

fourth key of great managers
Fourth Key of Great Managers

Help each person find the right fit!

Value Pawn & Jewelry/Gallup Studies - 2002-2007

sooner or later
Sooner or later……

Conventional Wisdom’s answer is :

UP!

Value Pawn & Jewelry/Gallup Studies - 2002-2007

flaws of the conventional career
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

self discovery is the driving guiding force behind a healthy career

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

the four keys of great managers
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

find the right fit
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

remember
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

slide35
NOW……

How well has this worked at Value?

Pleased You Asked….

Value Pawn & Jewelry/Gallup Studies - 2002-2007

gallup results
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

how can i do this
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

now break all the rules and laugh all the way to the bank
Now, Break all the Rules and laugh all the way to the bank!

Value Pawn & Jewelry/Gallup Studies - 2002-2007