Posts Tagged ‘evaluation’

But how does this effect my bottom line?

Since I started my own business, I have been a student of one of the greatest institutions of learning possible…experience.  No matter how much you think that you know, you can always learn new things (I talked about this in the blog post “I don’t even know what I don’t know!).  One of the major things that I have been questioned on more than once recently is “How will what you do, and the services that you offer, effect my bottom line?  How does it help me?”  I can honestly say that when I hear these types of questions, I can’t help but stop for just a second and think to myself, “Really?!”  In the “Operations” world of senior leadership and management, everything needs to be quantifiable.  In other words, it needs to have some type of number that can be shown on a chart or graph, and generally should be indicating an increase of good things or a decrease of negative things.  This can be quite challenging when talking about Performance Consulting.

In many cases I have experienced that when you mention that you can increase engagement, job satisfaction, improve communications through all levels and job performance the first thing that you hear is “That’s great, but what will that do for my bottom line?”  With that in mind I want to talk a bit about qualitative vs quantitative data, and how the difference in data can eventually lead to customized solutions that can impact the bottom line.  This is for the business owners, CEO’s, COO’s, CFO’s, President’s, VP’s/SVP’s/EVP’s and every other leader and senior leader that has wondered this same thing.

Let’s say for just a moment that your business is running well.  Do you even think twice to see if there is room for improvement?  Or do you put assessments and evaluations on the backburner in favor of cranking out more product or selling more of whatever it is that you offer?  In most cases the thought of improvement happens when expectations and performance are not seeing eye-to-eye.  unfortunately the truth is that by that point you are already experiencing negative ramifications that will persist, even beyond the initial implementation of a solution.  But this can be stopped!  By simply having an evaluation done regularly (read quarterly, or at least bi-annually/annually) throughout the organization, you can identify challenges with your human capital and the processes that they complete every day and head them off before they begin to cause major detriment.

The first type of evaluation that can be done is qualitative.  This is going to be based on the feelings and impressions from the participants, from their perspective of reality.  This is extremely important because in most cases, their perception is their reality.  With a qualitative evaluation you can move pretty quickly and can find areas that may need to be focused on further.  That is where the quantitative evaluations come in.  They are based on numbers and can show how certain things are working in relation to, or are impacting, other factors.  This is where you begin to see the impact to the bottom line, and can better define what is working and what isn’t.  Be aware though that this will in most cases be a much more time and resource intensive process.  In some cases, you can combine these two types of measurement and have a blended approach that allows for the collection of multiple types of data at the same time.

The message here?  While as human beings, and especially as business people, we have become accustomed to the immediate gratification that so many things provide the key in this is to be patient.  Also, when thinking about having a Performance Consultant come in to assist your organization, understand that we don’t want to give you misinformation and promise you something that might not be right, so let us help find out where the improvement could happen, and THEN determine where and how that will impact your business.  Preferably, let us come in and do it PROACTIVELY before everything hits the fan and is dripping off of your eyelashes…it’s much less painful for both of us.