Raising Business Performance.
by Bob Jones | Page Views: 590 | Published: 04/08/2009 | Updated: 04/08/2009 |
In the constant search to create and sustain a high performance organisation, how do you attract, retain and optimise really great people who can deal with any transformational challenge that the turbulent "more-for less" 21st Century business world can throw at them?
Taiichi Ohno (1912-1990) is considered to be the father of the Toyota Production System also known as Lean Manufacturing - a generic process management philosophy that is currently 'a hot topic' in the Financial Services Sector.
'Lean' - as it is now more commonly known -focuses on improving overall customer value through the reduction of Ohno's original 'seven wastes': transportation, inventory, motion, waiting, overproduction, over-processing and defects. But it was only recently that some 'new wastes' were added to this list including one which we believe should be the single biggest issue on the minds of many business leaders today i.e. the waste of untapped human potential. Research from the Performance Forum shows that disengaged employees are costing financial services companies in the US $300bn per year, in the UK the equivalent is ?7bn a year. Troika's own benchmarking surveys of both the life and pensions and investment management sectors have shown that if the weakest performers could emulate that of the strongest then this could add 42% to the bottom line. With the size of some of the numbers involved it's clear to see that even small incremental changes can produce dramatic results.
In attempting to squeeze the most juice out of their human capital many large firms are being drawn into a talent management "feeding frenzy", but is this the right response?
Many firms do a great - and similar - job of mapping their managers on to a nine-box matrix to define a future leadership cadre which is then often ring-fenced and exposed to a whole array of very worthy development o.....
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Authors Bio Details:
Bob Jones - Inspirational Development Group Team Development, Team Building Management & Team Leadership Training. http://www.inspirationaldevelopment.com